2nd LTI/Bank of Italy Workshop on “Long-term investors’ trends: theory and practice”

The Long-Term Investors@UniTo (LTI@UniTO) initiative and the Directorate General for Economics, Statistics and Research of the Bank of Italy are organizing the 2nd Research Workshop on Long-term investors trends: theory and practice. The event will take place, online, on April 8th, 2021.

Confirmed keynote speakers are: Carlo Favero (Bocconi University) and Elisa Luciano (University of Torino and Collegio Carlo Alberto).
The workshop will be introduced by the Director of LTI@UniTO Pietro Garibaldi and by the Deputy General Director of the Bank of Italy Piero Cipollone.

WORKSHOP THEMES AND AIMS

The workshop will bring together researchers and professionals working on long-term investors trends, both theoretical and applied, to discuss research papers and agendas. It aims at fostering interactions between economists and professionals. Contributions from young researchers and professionals are particularly welcome. All accepted papers will be discussed by an expert in the field.

PROGRAM

9:50 – 10.15 Welcome address
Piero Cipollone (Banca d’Italia) and Pietro Garibaldi (LTI@UniTO)
Download Cipollone’s address

10:15 – 11:00 Keynote speech – Elisa Luciano (Università di Torino and CCA)
“Cyclical Risk Appetite in Insurance Companies”download slides

Session I – Large investors, risk and financial markets
Chair: Jean Charles Rochet (University of Geneva)

11:00 – 11:40 Insurability of Pandemic Risks
H. Gründl (Goethe Un.), D. Guxha (U. St. Gallen), Anastasia Kartasheva (U. St. Gallen & Wharton UPenn), Hato Schmeiser (U. St. Gallen) download paper /slides

Discussion: Michel Dacorogna (Prime Re Solutions) download slides

11:40 – 12:20 Investment funds, risk taking, and monetary policy in the euro area
M. Giuzio (ECB), C. Kaufmann (ECB), Ellen Ryan (ECB), L. Cappiello (ECB)

Discussion: Taneli Makinen (Banca d’Italia)

12:20 – 13:00 Benchmark Effects from the Inclusion of Chinese A-shares in MSCI global indexes
S. Antonelli (Banca d’Italia), Flavia Corneli (Banca d’Italia), F. Ferriani (Banca d’Italia), A. Gazzani (Banca d’Italia)

Discussion: Alessia Paccagnini (University College Dublin) Download slides

13:00 – 14:20 Lunch break

Session II: Fintech
Chair: Luca Regis (LTI@UniTO)

14:20-15:00 Epidemics, Infrastructural Disparities and FinTech Adoption
C. Aksoy (EBRD), B. Eichengreen (Un. of Berkeley), Orkun Saka (Un.of Sussex)

Discussion: Enrico Sette (Banca d’Italia)

15:00 – 15:40 Robo-Advising for Small Investors
M. Bianchi (Un. of Toulose), Marie Brière (AMUNDI) download paper

Discussion: Francesco D’Amuri (Banca d’Italia)

15:40 – 16:20  Should Retail Investors Listen to Social Media Analysts? Evidence from Text-Implied Beliefs
Dim Chukwuma (Frankfurt School of Management) download paper

Discussion: Fabio Trojani (University of Geneva and UniTO)

16:20 -16:40 Coffee Break

16:40 – 17:30 Keynote speech – Carlo Ambrogio Favero (Università Bocconi)
“Factor Models with drifting prices” download paper/slides

Session III – Investors and market trends
Chair: Marcello Pericoli (Banca d’Italia)

17:30 – 18:10 Do Speculators Exacerbate Managerial Myopia? Evidence from Margin Traders in China
Jun Chen (UC San Diego) download paper

Discussion: Roberto Marfè (University of Torino and CCA)

18:10 – 18:50 Accounting for Low Long-Term Interest Rates: Evidence from Canada
Jens Christensen (San Francisco Fed), G. Rudebusch (San Francisco Fed), P. Shultz (Wharton Business School) download paper

Discussion: Dora Xia (BIS) download slides

ORGANIZING COMMITTEE

The program is organized by Pietro Garibaldi (University of Torino), Marcello Pericoli (Banca d’Italia), Luca Regis (University of Torino), Marco Taboga (Banca d’Italia).