Workshop on Macroeconomic Dynamics: Theory and Applications
24th Edition of the workshop organized by the Luiss Department of Economics and Finance.
Day One – December 18, 2025
2:25 pm Opening Remarks
2:30 pm Unequal Decoupling
Sergio de Ferra, University of Oxford
Discussant:
Cristiano Cantore, Sapienza University
3:15 pm Losing Grip? The Quantity Theory of Money in the Context of Currency Competition
Linda Schilling, Washington University in St. Louis
Discussant:
Bernardo Mottironi, Luiss University
4:00 pm Break
4:30 pm Accounting for Credibility: Monetary-Fiscal Interactions and the Credibility of Central Bank Mandates
Alessandro Dovis, University of Pennsylvania
Discussant:
Andrey Alexandrov, Tor Vergata University
Day Two – December 19, 2025
10:00 am Why does the Federal Reserve cut rates when public debt rises?
Andrea Ferrara, Northwestern University
Discussant:
Andrea Foschi, Bank of Italy
10:45 am Break
11:15 am Consumption Inequality, Household Risk, and the Business Cycle
Francesco Furlanetto, Norges Bank
12:00 pm Discretionary Spending is the Business Cycle, and Why It Matters for Monetary Policy
Chiara Vergeat, London Business School
Discussant:
Andrea Papetti, Bank of Italy
Local Organizers:
Marco Bernardini (Bank of Italy); Nicola Borri (Luiss); Francesco Lippi (Luiss, EIEF, and CEPR); Ettore Panetti (University of Naples Federico II and CSEF); and Marianna Riggi (Bank of Italy).
Scientific Committee:
Giorgio Bellettini (University of Bologna); Marco Bernardini (Bank of Italy); Nicola Borri (Luiss); Tito Cordella (The Johns Hopkins University, Bologna); Giulio Fella (Queen Mary and CEPR); Gianluca Femminis (Catholic University of Milan and CLE); Francesco Lippi (Luiss, EIEF and CEPR); Marco Maffezzoli (Bocconi University and IGIER); Tommaso Monacelli (Bocconi University, IGIER and CEPR); Ettore Panetti (University of Naples Federico II and CSEF); Marianna Riggi (Bank of Italy); Lorenza Rossi (Lancaster University); and Alessandro Secchi (Bank of Italy).