Program for the IARIW-Bank of Italy Conference March 29-April 1, 2023



Thursday, March 30


8:45 AM- 9:00 AM: Welcoming Remarks
Welcoming Remarks
  • Marina Avallone (Bank of Italy, Director of the Naples Branch)
  • Catherine Van Rompaey  (World Bank and IARIW President)
  • Andrea Brandolini (Bank of Italy and Programme Committee Chair)


9:00 AM- 11:00 AM: Opening Session
Opening Session: Monetary Policy and Income Inequality – I

Chair: TBA

  1. “Monetary Policy and Inequality” Proposal

Marco Jacopo Lombardi (Bank for International Settlements), Emanuel Kohlscheen (Bank for International Settlements), Benoit Mojon (Bank
for International Settlements), Egon Zakrajsek (Bank for International Settlements)

  1. “Who Takes the Cake? The Effects of Monetary Policy on Income Inequality in the Euro Area: its Class-Specific Impact” Proposal

Natalia Martín Fuentes (European Central Bank and University of Málaga), Salvador Pérez Moreno (University of Málaga), Elena Bárcena Martín
(University of Málaga)

  1. “Monetary Policy and Income Distribution in the Covid-19 Pandemic Crisis: a European Perspective” Proposal

Sergio Rossi (University of Fribourg)

  1. “Real-Time Inequalities and Policies during the Pandemic in the US.” Proposal

Simona Giglioli (Bank of Italy), Luisa Corrado, (University of Rome Tor Vergata), Daniela Fantozzi (ISTAT)

Discussion: TBA

11:00 AM-11:30 AM: Break
11:30 PM- 13:30 PM: Session 2


Session 2: Monetary Policy and Income Inequality – II

Chair: TBA

  1. “Effects of Monetary Policy on Income Distribution: Evidence from Brazil based on a Bayesian Vector Auto-Regressive (B-VAR)” Proposal

Andre De Melo Modenesi (Universidade Federal do Rio de Janeiro), Rosangela Baillini (UNICAMP), Kleyton Costa (Holistic AI), Bernardo Modenesi Modenesi (Michigan Institute for Data Science, MIDAS), Debora Pimentel (Universidade Federal Rural do Rio de Janeiro, UFRRJ), Norberto Montani Martins (UFRJ)

  1. “Behaviour, Expectation and Monetary Policy: A Comparative Analysis to Study Economic Inequality” Proposal

Sugata Sen (Panskura Banamali College), Susmita Banerjee (Charu Chandra College), Soumitra Kundu (Narasinha Dutt College)

  1. “Micro Level Data for Macro Models: the Distributional Effects of Monetary Policy” Proposal

Daniela D Fantozzi (Istat) Luisa Corrado (University of Rome Tor Vergata)

  1. “An Empirical Investigation of the Gendered Effects of Monetary Policy” Proposal

Francisco G Villarreal (UN Economic Commission for Latin America and the Caribbean), Nicole Bidegain (UN Economic Commission for Latin America and the Caribbean)

Discussion: TBA

13:30 PM- 14:30 PM: Lunch


Session 3: Monetary Policy and Wealth Distribution

Chair: TBA

  1. “The Role of Monetary Policy, Asset Prices, and the Distribution of Wealth in the US ” Proposal

Alessandro Franconi (European Central Bank), Giacomo Rella (Roma Tre University)

  1. “The Role of Federal Reserve Policy in Creating Wealth Inequality” Proposal

Aaron M Medlin (University of Massachusetts Amherst), Gerald Epstein (University of Massachusetts Amherst)

  1. “Monetary Policy’s Distributional Impacts on Wealth and Employment in the US Evaluating Outcomes by Race and Gender” Proposal

Melanie G Long (The College of Wooster)

Discussion: TBA

16:00 PM-16:30 PM: Break
16:30 PM- 18:30 PM: Session 4


Session 4: Effects of Monetary Policy on the Functional Income Distribution

Chair: TBA

  1. “Is “Inflation First” Synonymous with “Rentiers First” in the Pursuit of MonetaryPolicy? The Dominance of the Taylor Rule and the Rentier Income Share in Industrialized Countries” Proposal

Mario Seccareccia (University of Ottawa), Guillermo Matamoros Romero (University of Ottawa)

  1. “The Impact of Monetary Policy on Functional Income Distribution: a Panel SVAR Analysis (1970-2019)” Proposal

Stefano Di Bucchianico (University of Tuscia), Antonino Lofaro (Roma Tre University)

  1. “A Time-Varying VAR Analysis of the Macroeconomic Impact of Changes in the Pasinetti Index in the U.S.” Proposal

Sylvio Antonio Kappes (Federal University of Ceará), Pedro Hugo Clavijo Cortes (Gettysburg College), Louis-Philippe Rochon (Laurentian University)

  1. “Monetary Policy Rules and the Inequality-Augmented Phillips Curve” Proposal

Lilian N. Rolim (University of Campinas), Laura Carvalho, (University of São Paulo), Dany Lang (University Paris 13)

Discussion: TBA

Friday, March 31

9:00 AM- 10:30 AM: Session 5
Session 5: Distributional Effects of Central Bank Policies

Chair: TBA

  1. “The Effect of Monetary Policy on Inflation Heterogeneity along the Income Distribution” Proposal

Michael Ehrmann (European Central Bank), Miguel Ampudia (European Central Bank), Georg Strasser (European Central Bank)

  1. “On the Foreseeable Distributive Impact of Central Bank Digital Currencies” Proposal

Jacopo Temperini (Sapienza University of Rome), Lucio Gobbi (University of Trento), Carlo D’Ippoliti (Sapienza University of Rome)

  1. “Asymmetric Effects of Borrower-Based Measures on Household Access to Finance and Default” Proposal

Radu Popa (National Bank of Romania, Bucharest Academy of Economic Studies), Simona Ichim (National Bank of Romania), Florian Neagu (National Bank of Romania, Bucharest Academy of Economic Studies)

Discussion: TBA

10:30 AM-11:00 AM: Break
11:00 AM- 12:30 PM: Session 6
Session 6: Financial Markets and Inequality

Chair: TBA

  1. “Is the Financial Market Driving Income Distribution? – An Analysis of the Linkage between Income and Wealth in Europe” – Proposal   

Ilja Kristian Kavonius (European Central Bank), Veli-Matti Törmälehto (Statistics Finland)

  1. “Cyclical Transactions and Wealth Inequality” Proposal

Jung Sakong (Federal Reserve Bank of Chicago)

  1. “Financial Inclusion, Inequality in Financial Access, and Income Inequality– Evidence from European Countries” Proposal

Panchanan Das (University of Calcutta)

Discussion: TBA

12:30 PM-13:30 PM: Keynote Speech
Gianluca Violante, Princeton University


13:30 PM- 14:30 PM: Lunch
14:30 AM- 16:30 PM: Session 7
Session 7: The Distributional Accounts: Use and Construction

Chair: TBA

  1. “Cashing in on Wealth: links between Wealth and Income Inequality from the Lens of Distributional Wealth Accounts” Proposal

Luís Teles Morais (Nova School of Business and Economics), Nina Blatnik (European Central Bank), Ilja Kristian Kavonius (European Central

  1. “A Flow-of-Funds Analysis of the Japanese Economy: Inequality among Households and among Firms ” Proposal

Masako Tsujimura (Faculty of Data Science, Rissho University), Kazusuke Tsujimura (Keio University)

  1. “The Distribution of Household Income in the Framework of National Accounts: the Italian Experience, 2015-2020.” Proposal

Marina Sorrentino (Istat), Gabriella Donatiello (ISTAT), Luciano Cavalli (ISTAT), Paolo Consolini (ISTAT), Stefania Cuicchio (Istat)

  1. “Linking Macro and Micro Data to Produce Distributional Accounts for the NonFinancial Corporations” Proposal

Lucia Modugno (Bank of Italy), Andrea Neri (Bank of Italy), Luigi Infante (Bank of Italy)

Discussion: TBA

16:30 PM-17:00 PM: Break
17:00 PM- 18:00 PM: Session 8


Session 8: Advancing Statistical Methods

Chair: TBA

  1. “Combining Survey and Administrative Data to Estimate the Distribution of Households’ Deposits ” Proposal

Andrea Neri (Bank of Italy), Francesco Vercelli (Bank of Italy), Matteo Spuri (Bank of Italy)

  1. “Measuring Households’ Exposure to Economic Shocks. An analysis at the Intersection of Income, Financial Wealth, and Debt ” Proposal

David Loschiavo (Bank of Italy), Antonietta di Salvatore (Bank of Italy), Federico Tullio (Bank of Italy)

Discussion: TBA

18:00 PM-18:30 PM: Closing Remarks
Ignazio Visco, Bank of Italy’s Governor