BAFFI CAREFIN Centre –  Bocconi University
Via Roentgen 1, 20136 Milan, Italy

With friendly support of INTESA SANPAOLO




Friday, November 8, 2019

In cooperation with

There seems to be general agreement that „populism“ has been on the rise over the past decade, and that it has implications for election outcomes and economic policies. There is the notion that populist economic policies oriented towards short-term gains at the cost of long-term structural growth, favor pressure groups at the cost of minorities and other groups less relevant for electoral outcomes, and do generally not attach great importance to economic facts and analysis. This conference first asks what „populist economic policies“ are. Are they actually a new phenomenon? Are they confined to specific political camps? How would they be classified in more conventional economic categories? Once more clarity on the definition has been achieved, second, the question is asked about causalities: Have past economic developments (fiscal consolidation, reform fatigue, economic inequality, financial crisis, unemployment) led to public discontent and thus encouraged or even forced „populist“ policies; or do populist narratives merely serve as justification for the policies taken against mainstream economists‘ advice?


Friday, 8 November 2019
Donato Masciandaro, Professor of Economics, Chair in Economics of Financial Regulation Director, BAFFI CAREFIN Centre Bocconi University I SUERF
Opening Speech
Prof. Mario Monti, President, Bocconi University I SUERF Honorary Member
SUERF Annual Lecture 2019

Central banking in challenging times

Claudio Borio, Head of the Monetary and Economic Department, BIS I SUERF Fellow presentation

Chair: Jakob de Haan, SUERF President and Head of Research, De Nederlandsche Bank
Session I: Populism and Economics
Chair: Ernest Gnan, Head, Economic Analysis Division, OeNB I SUERF

Populism and European Economic Dynamics

Stefan Gerlach, Chief Economist, EFG Bank presentation

Populism: Demand and Supply?

Massimo Morelli, Professor of Political Sciences, Bocconi University presentation
Coffee break
Session II: Economics and Culture
Chair: Vincenzo Galasso, Full Professor of Economics, Bocconi University

Collective Emotions and Protest Vote

Francesco Passarelli, Associate Professor of Economics Professor, University of Turin

New Populism in Latin America

Antonio Spilimbergo, Deputy Director, Research Department, IMF presentation
Session III: Populism and Central Banking
Chair: Sylvester C W Eijffinger, President, Tilburg University Society I SUERF Fellow

Political Pressure on Central Banks

Carola Binder, Assistant Professor of Economics, Haverford College presentation

Populism and Central Bank Independence

Itai Agur, Senior Economist, IMF presentation
Session III: Populism and Central Banking (continued)

Autocratic Breakdown: Does central bank independence matter?

Cristina Bodea, Professor of Political Science, Michigan State University presentation

Populism, Political Pressure and Central Bank (in)dependence

Donato Masciandaro, Professor of Economics, Director, BAFFI CAREFIN Centre Bocconi University I SUERF presentation
Coffee break
SESSION IV: High Level Policy Panel
Luljeta Minxhozi, First Deputy Governor, Bank of Albania
Chair: Ryszard Kokoszczynski, Member of the Board, Narodowy Bank Polski (NBP) I SUERF
Daniel Daianu, Chairman of the Romanian Fiscal Council and Special Adviser to the Governor, National Bank of Romania
Jakob de Haan, SUERF President , University of Groningen and De Nederlandsche Bank presentation
End of Conference