CONFERENCE IN HONOR OF FRANCESCO GIAVAZZI
On the occasion of Francesco Giavazzi's 70th birthday, Bocconi University will celebrate his career and his contributions to economics.
September 20,2019, 5:30pm
Aula Magna, Via Röntgen 1
Gianmario Verona (Rector, Bocconi University)
High Public Debts and Low Interest Rates
The last financial crisis has left a legacy of low interest rates but also of higher public debts in several countries. Low interest rates create room to use expansionary fiscal policies to lift aggregate and demand and expand public investment, but high public debts and ageing populations push in the opposite direction. In this new environment, should fiscal rules in the Eurozone be reconsidered, and how? Is there a need for greater coordination between fiscal and monetary policy, and if so should the Maastricht rules preventing debt monetization be relaxed? For how long can Italy keep procrastinating debt stabilization without triggering a financial crisis?
Richard Portes (London Business School and CEPR)
Alberto Alesina (Harvard University)
Olivier Blanchard (Peterson Institute for International Economics)
Stanley Fischer (BlackRock Investment Institute)
Veronica Guerrieri (Booth School of Business, University of Chicago)
Charles Wyplosz (Graduate Institute of International and Development Studies)
IGIER - Università Bocconi