Workshop on “Long-term investors’ trends: theory and practice”

3rd 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 organized the 3rd Research Workshop on “Long-term investors’ trends: theory and practice”. The event took place, in hybrid mode, on July 11th, 2022 at the Bank of Italy, in Rome (Italy).

Program

9:30 – 9:50 Welcome address
Paolo Angelini (Banca d’Italia) and Pietro Garibaldi (LTI@UniTO)

9:50 – 10:40 Keynote speech
Financial Intermediaries and Externalities
Mariassunta Giannetti (Stockholm School of Economics)

10:40 – 11:20 Long-Horizon Investing in a Non-CAPM world
Dimitri Vayanos (London School of Economics)
Discussion: Paolo Vitale (Università di Chieti e Pescara)

11:20 – 11:40 Coffee Break

11:40 – 12:20 You can’t always get what you want (when you want it): cross-border effects of the US money market Fund reform
Daniel Fricke (Deutsche Bundesbank)
Discussion: Angela Maddaloni (European Central Bank)

12:20 – 13:00 Shock amplification in an interconnected financial system of banks and investment funds
Katarzyna Budnik (ECB)
Discussion: David Aikman (King’s College London)

13:00 – 14:30 Lunch break

14:30 – 15:30 Panel Session “Challenges from the rapidly changing investment landscape: inflation, geopolitical risks, exit from accommodative policies”
Chair: Magda Bianco (Banca d’Italia)
Participants: Silvana Chilelli (Eurizon), Andrea Filtri (Mediobanca), Dario Focarelli (ANIA), Giovanni Siciliano (UNIPOL).

15:30 – 16:10 Hot Off the press: News-Implied Sovereign Default Risk
Chukwuma Dim (Frankfurt School of Finance and Management)
Discussion: Sabina Marchetti (Banca d’Italia)

16:10 – 16:30 Coffee Break

16:30 – 17:10 Time-Varying Environmental Betas and Latent Green Factors
Emanuele Chini (EDHEC/ERCII)
Discussion: Lorenzo Schoenleber (Collegio Carlo Alberto)

17:10 – 17:50 Climate Linkers: Rationale and Pricing
Jean-Paul Renne (HEC Lausanne)
Discussion: Federica Zeni (World Bank)

17:50 – 18:30 Macro Trends and Factor Timing
Alessandro Melone (The Ohio State University)
Discussion: Paolo Porchia (LUISS)

Organizing Committee

• Pietro Garibaldi (University of Torino)
• Marcello Pericoli (Banca d’Italia)
• Luca Regis (University of Torino)
• Marco Taboga (Banca d’Italia)

Venue

Centro Convegni “Carlo Azeglio Ciampi”
Via Nazionale, 190
Roma