2013 (Bicocca)

Advances in DSGE Models

University of Milan Bicocca, Prin 2008 Final Workshop, June 13-14, 2013

Organizers: Patrizio Tirelli (University of Milan Bicocca), Giovanni Di Bartolomeo (Sapienza University of Rome).

Venue: Edificio U7- Sala del Consiglio (4th floor) Dipartimento di Economia, Metodi Quantitativi e Strategie di Impresa - Università degli Studi di Milano-Bicocca - Piazza Ateneo Nuovo, 1 Milano 20126, Italy – Tel: (+39 02) 6448-3089 Fax: (+39 02) 6448-3085.

Thursday – June, 13

13.30 Registration and welcome

Session 1. Chair Luisa Lambertini (University of Lausanne)

• 14.00 Emiliano Santoro (Università Cattolica Milano), Loss aversion and the asymmetric transmission of monetary policy, Discussant: Giovanni Di Bartolomeo (Sapienza University of Rome).

• 15.00 Andrea Tambalotti (Federal Reserve, New York), The effects of the saving and banking glut on the U.S. economy, Discussant: Federico Signoretti (Bank of Italy).

• 16.00 Coffee break

• 16.30 Stefano Neri (Bank of Italy), Financial intermediation and the real economy: what role for monetary and macroprudential policies?, Discussant: Lorenza Rossi (University of Pavia).

• 17.30 Patrizio Tirelli (University of Milan Bicocca), US trend inflation reinterpreted. The role of fiscal policies and time-varying nominal rigidities, Discussant: Efrem Castenuovo (University of Padua).

18.30 End of the session

20.00 Social dinner

Friday – June, 14

Session 2. Chair Stefano Neri (Bank of Italy)

• 9.30 Barbara Annicchiarico (University of Rome Tor Vergata), Igem: A dynamic general equilibrium model for Italy, Discussant: Patrizio Tirelli (University of Milan Bicocca).

• 10.30 Luisa Lambertini (University of Lausanne), Monetary and fiscal policy interactions with debt dynamics, Discussant: Alessandro Piergallini (University of Rome Tor Vergata).

• 11.30 Coffee break

• 11.40 Lorenza Rossi (University of Pavia), Firm entry, endogenous markups and the dynamics of the labor share of income, Discussant: Giovanni Di Bartolomeo (Sapienza University of Rome).

• 12.40 Alessandra Pelloni (University of Rome Tor Vergata), Real wage rigidities, labor market imperfects and financial shocks, Discussant: Andrea Colciago (University of Milan Bicocca and NCB).

13.40 End of the session and Lunch