SUERF/BAFFI CAREFIN Centre Conference

Populism, Economic Policies and Central Banking

Date:    Friday, 8 November 2019
Venue: BAFFI CAREFIN Centre -  Bocconi University
            Via Roentgen 1, 20136 Milan, Italy


With friendly support of INTESA SANPAOLO

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?

Programme

Friday, 8 November 2019
08:15	Registration
08:45	Welcome
	Donato Masciandaro, Professor of Economics, Chair in Economics of Financial Regulation Director, BAFFI CAREFIN Centre Bocconi University I SUERF
08:50	Opening Speech
	Prof. Mario Monti, President, Bocconi University I SUERF Honorary Member
09:20	SUERF Annual Lecture 2019
	Central banking in challenging times Claudio Borio, Head of the Monetary and Economic Department, BIS I SUERF Fellow SUERF Policy Note_Issue 114
10:00	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
11:00	Coffee break
11:30	Session II: Economics and Culture
	Chair: Vincenzo Galasso, Full Professor of Economics, Bocconi University New Populism in Latin America Antonio Spilimbergo, Deputy Director, Research Department, IMF Presentation Collective Emotions and Protest Vote Francesco Passarelli, Associate Professor of Economics Professor, University of Turin
12:30	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
13:30	Lunch
14:15	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
15:15	Coffee break
15:45	SESSION IV: High Level Policy Panel
	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
17:00	End of Conference