2016

Developments in Macroeconomics

Workshop in honor of Clifford Wymer

June 16-17, 2016

Organizers: Giovanni Di Bartolomeo (Sapienza University of Rome), Daniela Federici (University of Cassino and Southern Lazio), Enrico Saltari (Sapienza University of Rome), Paolo Canofari (Luiss, Rome).

Venue: Aula 10 – Facoltà di Economia – Sapienza Università degli Studi di Roma – via del Castro Laurenziano, 9. Roma 00161, Italia. Tel. +39(0)6/49.766.921, Fax +39(0)6/49.41.621

June 16, 14.00

Authorities’ welcome

Session chair: Giancarlo Gandolfo

• Giancarlo Gandolfo (Accademia dei Lincei), “Introduction.”

• Kieran Patrick Donaghy (Cornell University), “Impacts of monetary policy on the welfare of different income groups in Indonesia,” with Gunawan Wicaksono (Bank of Indonesia) and Clifford Wymer (Sapienza University of Rome). Discussant: Denis Richard (International Monetary Fund).

• Peter Jonson (Reserve Bank of Australia), “A macro-economic policy model of the United Kingdom 1855–2014 with investment, share prices and Animal Spirits,” with Clifford Wymer (Sapienza University of Rome). Discussant: Massimo Franchi (Sapienza University of Rome).

Coffee break

Session chair: Patrizio Tirelli

• Giuseppe Arbia (Cattolica University of Rome), “Testing the significance of impact measures in spatial panel data models.”

• Daniela Federici (University of Cassino and Southern Lazio), “Endogenizing the ICT sector: A multi-sector approach,” with Clifford R. Wymer (Sapienza University of Rome) and Enrico Saltari (Sapienza University of Rome). Discussant: Massimo Tivegna (University of Teramo).

• Francesco Nucci (Sapienza University of Rome), “Labor force participation, wage rigidities, and inflation,” with Marianna Riggi (Bank of Italy). Discussant: Enrico Marchetti (University of Naples Parthenope).

June 17, 9.30

Session chair: Francesco Nucci

• Giuseppe Ciccarone (Sapienza University of Rome), “Macroeconomic equilibrium with imperfect rationality and market frictions,” with Francesco Giuli (University of Rome Tre) and Enrico Marchetti (University of Naples Parthenope). Discussant: Giuseppe Ferrero (Bank of Italy).

• Elmer Sterken (University of Groningen), “Public debt, economic growth and the real interest rate: A panel VAR approach to EU and OECD countries,” with Kazuo Ogawa (Osaka University) and Ichiro Tokutsu (Kobe University). Discussant: Giuseppe Travaglini (University of Urbino).

• Cristiano Cantore (University of Surrey), “Labor share and monetary policy,” with Filippo Ferroni (Banque de France and University of Surrey), Luca Fornaro (CREI), and Miguel Leon-Ledesma (University of Kent). Discussant: Marco Di Pietro (Sapienza University of Rome).

Coffee break

Session chair: Daniela Federici

• Patrizio Tirelli (Bicocca University of Milan), “PIIGS in the Euro Area. An empirical DSGE model,” with Alice Albonico (Bicocca University of Milan) and Alessia Paccagnini (University College Dublin). Discussant: Alessandro Piergallini (University of Tor Vergata, Rome).

• Tatiana Damjanovic (University of Durham), “Fiscal policy in a model of firm entry and financial frictions,” with Dudley Cooke (University of Exeter). Discussant: Tiziano Ropele (Bank of Italy).

Lunch

Session chair: Enrico Saltari

• Margarita Rubio (University of Nottingham), “Prudential policies under incomplete information,” with D. Filiz Unsalz (International Monetary Fund). Discussant: Federico Signoretti (Bank of Italy).

• Elton Beqiraj (Sapienza University of Rome), “Forward guidance and heterogeneous beliefs,” with Giovanni Di Bartolomeo and Marco Di Pietro (Sapienza University of Rome). Discussant: Nicola Acocella (Sapienza University of Rome).

Concluding remarks by Clifford Wymer