Lessons from Covid-19. A Stronger EU: Staying together in a new policy space

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JULY 5, 2021

from 3PM CEST

h. 3 PM  Opening Session

Introductory Remarks

  • Pasquale Lucio SCANDIZZO, President, Villa Mondragone Economic Development Association
  • Orazio SCHILLACI, Rector, Tor Vergata University of Rome
  • Enrico GIOVANNINI, Italian Minister of Sustainable Infrastructures and Mobility

h. 4 PM      Panel

Villa Mondragone, Economic Development and European Recovery Challenge

  • Chair: Edmund S. PHELPS – Nobel Prize, Columbia University


  • Giovanni TRIA, former Italian Minister of Economy and Finance
  • Beniamino QUINTIERI, Tor Vergata University of Rome
  • Luigi PAGANETTO, Tor Vergata Economic Foundation

h. 5 PM      Villa Mondragone Economic Development Association Annual Meeting

The meeting is intended to discuss the next year activity of the Association

h. 5:30 PM

Will the EU Grow Faster than in the Past Decade after Covid-19?

  • Chair: Dominick SALVATORE, Fordham University, Introductory remarks


  • Peter PRAET, ECB, Monetary and fiscal policies complementarities: will the honeymoon turn into conflict?
  • Catherine L. MANN, OECD, Next Generation EU and prospects for productivity growth in Europe
  • Robert KOOPMAN, WTO, Trade’s role in the post Covid-19 European recovery
  • Marco BUTI, European Commission, The answer is yes. But if and only if…


Per vedere le sessioni basta cliccare sulle frasi in azzurro che riportano al link Youtube della diretta

JULY 6, 2021

from 9:30AM CEST

h. 9:30 AM                            Introductory Remarks

  • Speaker: Renato BRUNETTA, Italian Minister of Public Administration

h. 10-11:30 AM                     Farmindustria Session

Covid-19: Some Evidence on Pandemic and Vaccines

  • Chair: Thorvaldur GYLFASON, University of Iceland


  • Gylfi ZOEGA and Marias H. GESTSSON, University of Iceland, Covid-19 and the golden rule of social distancing
  • Franco MOSCONI, University of Parma, The new European industrial policy and the case of ‘pharmaceuticals and biotechnology’ industry
  • Mauro MARÈ, LUISS, Luca DI GIALLEONARDO, Antonello MOTRONI, Mefop, Francesco PORCELLI, University of Bari, Family ties and the pandemic: Some evidence from Sars-CoV-2
  • David TURNER, Balazs EGERT, Yvan GUILLEMETTE, and Jarmila BOTEV, OECD, The tortoise and the hare: The race between vaccine rollout and new Covid variants

h. 10-11:30 AM                     School of Oriental and African Studies Session

Covid-19 Pandemic: Perspectives from Emerging and Developing Countries

  • Chair: Ben HARDY, School of Finance and Management, SOAS University of London
  • Introductory Address: Pasquale SCARAMOZZINO, SOAS and Tor Vergata University of Rome, Tor Vergata and SOAS: A Long and fruitful collaboration


  • Christine OUGHTON, SOAS University of London, Juana Paola BUSTAMANTE, Tor Vergata University of Rome, Vanesa PESQUÉ-CELA, Liverpool John Moores University, and Damian TOBIN, University College Cork, Resolving the patents paradox in the age of Covid-19 and climate change
  • Laurence HARRIS, SOAS University of London, Recovering from Covid-19: Economic scenarios for South Africa
  • Bassam FATTOUH, SOAS University of London and Oxford Institute for Energy Studies, Diversification strategy under deep uncertainty for MENA oil exporting countries
  • Hannes GOEGELE, SOAS University of London, A polycentric approach to collective action in global public health

h. 11:45 AM-1:15 PM          Assessing Next Generation EU and Evolution of European Economy

  • Chair: Michele BAGELLA, Villa Mondragone Economic Development Association


  • Paul VAN DEN NOORD, Amsterdam School of Economics and Lorenzo CODOGNO, London School of Economics, Assessing next generation EU
  • Sergio INFERRERA, IWH-CompNet, Globalisation in Europe: Consequences for the business environment and future patterns in light of Covid-19
  • Tobias ADRIAN, Christopher ERCEG, Jesper LINDÉ, and Pawel ZABCZYK, IMF, Navigating the global lockdown: Macro-financial policy trade-offs under Covid-19
  • Mattia BEVILACQUA, London School of Economics, Meryem DUYGUN, Nottingham University Business School, and Davide VIOTO, Bank of England, The effect of Covid-19 related policy interventions on international systemic risk

h. 11:45 AM-1:15 PM          SIE Session

Covid-19 and Economic Policies for a Sustainable Recovery

  • Chair: Marcello SIGNORELLI, University of Perugia and CdP SIE


  • Nicola ACOCELLA, Sapienza University of Rome, Pandemic and the future of European Monetary Union
  • Charles A. GOODHART, LSE, Donato MASCIANDARO, Bocconi University, and Stefano UGOLINI, University of Toulouse, Pandemic recession and helicopter money: The lesson of Venice 1630 for today Central Banking
  • Annamaria SIMONAZZI, Sapienza University of Rome, Germany’s two models and the long-term sustainability of the Eurozone
  • Pompeo DELLA POSTA, University of Pisa, Enrico MARELLI, University of Brescia, Donatella SACCONE, University of Pollenzo, and Marcello SIGNORELLI, University of Perugia, Public investment multipliers: Theory, empirical evidence for EU countries and policy implications

h. 1:45-2:15 PM                    Introductory Remarks

  • Speaker: Patrizio BIANCHI, Italian Minister of Public Education

h. 2:15-3:45 PM                    IRENA Session

Energy and Ecological Transition

  • Chair: Francesco LA CAMERA, DG IRENA, The energy transitions outlook: A pathway to 1,5 degrees
  • Moderator: Damian BRANDY, IRENA


  • Griffin THOMPSON, Georgetown University, Energy transition or socio-political transformation?
  • Elizabeth PRESS, IRENA, The geopolitics of energy transition
  • Kingsmill BOND, Carbon Tracker Initiative, The impact of the energy transition on financial markets. Peaking demand and feedback loops
  • Rabia FERROUKHI, IRENA, Transition policies: a socio economic perspective
  • Dolf GIELEN, IRENA, Decarbonising the end-use sectors

h. 2:15-3:45 PM                    Posteitaliane Panel

Digital Transformation of the Financial System

  • Chair: Franco PASSACANTANDO, LUISS, The issues at stake


  • Nicola BILOTTA, IAI, The entry of Tech Giants into the monetary system
  • Riccardo DE BONIS, Bank of Italy, Currency competition: A historic revival?
  • Jan KNOERICH, King’s College London, The Central Bank digital currency of China

h. 4-5:30 PM                         IMF Session

Climate Risks, Carbon Price and Sustainable Finance Market

  • Chair: Domenico FANIZZA, Executive Director, IMF


  • Ralph CHAMI, IMF, A Framework for a new nature-based economic paradigm
  • James ROAF, IMF, A proposal for an international carbon price floor
  • Fabio NATALUCCI, IMF, Sustainable finance markets: Recent developments and climate data challenges and opportunities
  • Pierpaolo GRIPPA, IMF, Climate risks and the fund financial sector assessment program

h. 4-5:30 PM                         SNAM Session

Productivity, Digital Transformation and Sustainable Growth

  • Chair: Gloria BARTOLI, LUISS


  • Miria PIGATO, World Bank and Ryan RAFATY, Nuffield College, The Covid-19 crisis and the road to recovery: green or brown?
  • Era DABLA NORRIS, Mariya BRUSSEVICH, and Salma KHALID, IMF, Who will bear the brunt of lockdown policies? Evidence from tele-workability measures across countries
  • Francesco MANARESI, OCSE, The roots of the productivity slowdown: insight from OECD countries
  • Mercedes TERUEL CARRIZOSA, Universitat Rovira i Virgili, Alex COAD, Waseda Business School, Clemens DOMINICK, Florian FLACHENECKER and Mario Lorenzo JANIRI, European Commission, Péter HARASZTOSI and Rozalia PAL,EIB, The relationship between new digital technologies, internationalization and high-growth enterprises

h. 5:45-7:15 PM                    Adler Group Session

Automation, Smart Working and Employment

  • Chair: Alberto PETRUCCI, LUISS


  • Jean-Benoît EYMEOUD, SciencesPo University, Nicolas PETROSKY-NADEAU, FRB San Francisco, Raül SANTAEULÀLIA-LLOPIS, Barcelona GSE Etienne WASMER, SciencesPo University, Labor dynamics and actual telework use during Covid-19: Skills, occupations and industries
  • Lucia RIZZICA and Walter GIUZIO, Bank of Italy, The use of smart working arrangements in Italy during the pandemics: Evidence from public administrations
  • Paolo DI CARO, University of Catania and Ugo FRATESI, Politecnico di Milano, The role of the cohesion policy for sustaining the resilience of European regional labour markets during different crises

h. 5:45-7:15 PM                    Panel

The Bioeconomy, the Pandemic and the New Global Health System

  • Chair: Pasquale L. SCANDIZZO, Villa Mondragone Development Association


  • Sergio ABRIGNANI, University of Milan, The pandemic as a global stress for the health structures and the biotech industrial system
  • Ralph CHAMI, IMF, The Bioeconomy and global health: Implications for fragile and remittance-dependent States
  • Fabio FAVA, University of Bologna, A regenerative bioeconomy for a new approach to human global health
  • Justus WESSLER, University of Wageningen, A global investment program against present and future pandemics

Per vedere le sessioni basta cliccare sulle frasi in azzurro che riportano al link Youtube della diretta

JULY 7, 2021

from 9:30AM CEST

h. 9:30-10 AM                       Introductory Remarks

  • Speaker: Paolo GUERRIERI, SciencesPo University

h. 10-11:30 AM                     Asian Development Bank Panel

EU-ASEAN Trade Relations in the Context of the Next Generation EU Instrument and Recent Regional Developments

  • Moderator: Francesco ABBATE, Adjunct Professor, University of Turin


  • Pramila CRIVELLI, Economist, Asian Development Bank
  • Luong Hoang THAI, DG Ministry of Industry and Trade, Perspectives from the Coordinator for ASEAN-EU economic partnership (tbc)
  • Peter BERZ, Head of Unit, DG Trade, European Commission (tbc)
  • H.E. SIM Sokheng, Secretary of State at the Ministry of Commerce of Cambodia, Perspectives  from an ASEAN LDC
  • Chris HUMPHREY, Executive Director, EU-ASEAN Business Council, Perspectives from the private sector
  • Claudio DORDI, Former Chief Technical Advisor EU MUTRAP

h. 10-11:30 AM                     Global Value Chains and Trade

  • Chair: Beniamino QUINTIERI, Tor Vergata University of Rome


  • Elisabetta GENTILE and Gaaitzen J. DE VRIES, Asian Development Bank, Income convergence by developing Asia: Accounting for jobs and earnings in global value chains
  • Anirudh SHINGAL, European University Institute and Prachi AGARWAL, Jawaharlal Nehru University, How did GVC-Trade respond to previous health shocks? Implications for Covid-19
  • Simona GIGLIOLI, University of Rome Tor Vergata, Giorgia GIOVANNETTI, Enrico MARVASI, and Ariana VIVOLI, University of Florence, The resilience of Global Value Chains during the Covid-19 pandemic: The case of Italy

h. 11:45 AM-1:15 PM          UniCredit Panel

The Future of Macroeconomic Policies after the Pandemics. What Will Be the New Normal?

  • Chair: Leonardo BECCHETTI, Tor Vergata University of Rome


  • Lorenzo BINI SMAGHI, Société Générale
  • Carlo COTTARELLI, Università Cattolica
  • Jean-Paul FITOUSSI, SciencesPo University
  • Stefano MICOSSI, Assonime
  • Marcello SIGNORELLI, Università degli Studi di Perugia

h. 11:45 AM-1:15 PM          Riccardo Faini Session

Public and Fiscal Policies. Italy in the European Recovery

  • Chair: Riccardo BARBIERI HERMITTE, Italian Ministry of Economy and Finance


  • Davide ASSALVE, Cristina COLLURA, Elena GIACHIN RICCA, Ottavio RICCHI, and Serena TEOBALDO, Italian Ministry of Economy and Finance, Towards a new European fiscal framework: Assessing the implications of recent reform proposals
  • Giovanni DI BARTOLOMEO, Paolo D’IMPERIO, and Francesco FELICI, Italian Ministry of Economy and Finance, Fiscal policy response to the Italian Covid-19 crisis: A counterfactual analysis
  • Alberto CAGNAZZO, Carlo FAVERO, Valeria MACAUDA, Francesco NUCCI, and Cristian TEGAMI, Italian Ministry of Economy and Finance, Sovereign spread and economic policy: Simulations with the new ITFIN model
  • Luigi BONATTI, University of Trento and Lorenza Alexandra LORENZETTI, Università Cattolica, Public policies and long-run growth in a model with environmental degradation

h. 1:45-2:15 PM                    Introductory Remarks

  • Speaker: Rainer MASERA, Guglielmo Marconi University

h. 2:15-3:45 PM                    Monetary Policy, Private Bank Behaviour and Inflation

  • Chair: Francesco MONGELLI, ECB


  • Nina BUDINA, Valentina BONIFACIO, Luis BRANDAO-MARQUES, Balazs CSONTO, Chiara FRATTO, Philipp ENGLER, Davide FURCERI, Deniz IGAN, Rui MANO, Machiko NARITA, Murad OMOEV, Gurnain Kaur PASRICHA, and Hélène POIRSON, IMF, Distributional effects of monetary policy
  • Marco BERNARDINI and Annalisa DE NICOLA, Bank of Italy, The market stabilization role of central bank asset purchases: High-frequency evidence from the Covid-19 crisis
  • Lorenzo BURLON, Carlo ALTAVILLA, Francesca BARBIERO, and Miguel BOUCINHA, ECB, The Great Lockdown: Pandemic response policies and bank lending conditions

h. 2:15-3:45 PM                    Investment Vs Debt Trade-Offs, State-Owned Enterprises and Zombie Firms in the Post Pandemic Scenario

  • Chair: Giampaolo GALLI, Osservatorio Conti Pubblici Italiani, Università Cattolica


  • Rozalia PAL and Laurent MAURIN, EIB, Investment vs debt trade-offs in the post-Covid-19 European economy
  • Audinga BALTRUNAITE, Mario CANNELLA, Sauro MOCETTI, and Giacomo ROMA, Bank of Italy, Board composition and performance of state-owned enterprises: Quasi experimental evidence
  • Anne EPAULARD, Mathieu CROS and Philippe MARTIN, SciencesPo University, Will Schumpeter catch Covid-19

h. 4-5:30 PM                         ANIA Session

Fiscal Policies in EU

  • Chair: Fabrizio MATTESINI, Tor Vergata University of Rome


  • Massimiliano PISANI, Anna BARTOCCI, and Alessandro NOTARPIETRO, Bank of Italy, The Covid-19 shock and a fiscal-monetary policy mix in a Monetary Union
  • Luca ROSSI, Bank of Italy, Revisiting the case for a Fiscal Union: The federal fiscal channel of downside-risk sharing in the United States
  • Giovanni PIERSANTI, Audrey DE DOMINICIS, University of Teramo, Paolo CANOFARI, Università Politecnica delle Marche, and Alessandro PIERGALLINI, Tor Vergata University of Rome, Fiscal policy and sovereign debt dynamics: (Re-)assessing the intertemporal viability of the government budget using a model-based and consistently measured sustainability indicator
  • Martino TASSO, Giuseppe FERRERO, and Massimiliano PISANI, Bank of Italy, Policy mix during a pandemic crisis: A review of the debate on monetary and fiscal responses and the legacy for the future

h. 4-5:30 PM                         Panel

The Challenge of Sustainable Development of Africa

  • Chair: Samuele ROSA, IMF


  • Nico VALCKX, IMF, Commodities, energy transition, and the future of Africa
  • Edward GEMAYEL, IMF, Achieving the sustainable development goal in the post-Covid world
  • Giovanni MELINA,IMF, How to boost the post-Covid-19 recovery in Africa and elsewhere? Policy lessons from country applications of the DIGNAR Model
  • José GIJON, IMF, Program design in LICs/AFRs during and after Covid

h. 5:45-7:15 PM                    Giancarlo Marini Session

Young Economist Session

The Next Generation Challenge

  • Chairs: Paolo CANOFARI, Università Politecnica delle Marche, Giovanni PIERSANTI, University of Teramo, Luisa CORRADO and Pasquale SCARAMOZZINO, Tor Vergata University of Rome


  • Niccolò FRACCAROLI, Brown University and Alessandro PIZZIGOLOTTO, Norwegian School of Economics, Credit shocks and populism
  • Sara MANCINI, Leonardo BECCHETTI, Tor Vergata University of Rome, and Erminia FLORIO, HEC Montréal, Internet exposure and social capital
  • Beniamino PISICOLI, Tor Vergata University of Rome, Banking diversity, financial complexity and resilience to financial shocks: Evidence from Italian Provinces
  • Francesco SALUSTRI, University College London, Leonardo BECCHETTI, Fabio PISANI, Tor Vergata University of Rome, and Lorenzo SEMPLICI, LUMSA University, The frontier of social impact finance in the public sector: Theory and two case studies
  • Daniela FANTOZZI, ISTAT and Alessio MUSCARNERA, Tor Vergata University of Rome, A news-based policy index for Italy: Expectations and fiscal policy
  • Juana Paola BUSTAMANTE, Tor Vergata University of Rome, The effect of innovation on employment: A Firm-level analysis of manufacturing firms in Colombia

8 luglio 2021

h. 9:00 Apertura dei lavori

  • Vincenzo CELESTE, Direttore Generale per l’Unione Europea, Ministero degli Affari Esteri e della Cooperazione Internazionale

h. 9:15       Le conclusioni della XXXII Conferenza di Villa Mondragone

  • Luigi PAGANETTO, Fondazione Economia Tor Vergata e Pasquale Lucio SCANDIZZO, Villa Mondragone Economic Development Association

h. 9:45       Interviene

  • Patrizio BIANCHI, Ministro dell’Istruzione (in collegamento)

h. 10:00     Le indicazioni di policy di Villa Mondragone e l’Europa di domani

  • Beniamino QUINTIERI, Professore di Economia e finanza internazionale, Università degli Studi di Roma “Tor Vergata”
  • Jean-Paul FITOUSSI, Professore Emerito, SciencePo University (in collegamento)
  • Adolfo URSO, Presidente, Fondazione Farefuturo
  • Vincenzo SCOTTI, Fondatore della Link Campus University
  • Giorgia GIOVANNETTI, Prorettore alle Relazioni internazionali, Università di Firenze
  • Francesco LA CAMERA, Direttore Generale, Irena
  • Marco ALVERÀ, Amministratore Delegato, Snam (in collegamento)
  • Domenico FANIZZA, Direttore Esecutivo per l’Italia, IMF
  • Gloria BARTOLI, Segretario Generale, Osservatorio Produttività e Benessere
  • Marco LEONARDI, Capo Dipartimento per la Programmazione e il coordinamento della politica economica, Presidenza del Consiglio dei Ministri (in collegamento)

h. 12:00     Intervengono

  • Manlio DI STEFANO, Sottosegretario, Ministero degli Affari Esteri e della Cooperazione Internazionale
  • Laura CASTELLI, Vice Ministra, Ministero dell’Economia e delle Finanze

h. 12:30     Conferenza stampa


  • Alfonso RUFFO