3rd FINPRO - Finance and Productivity Conference

3rd FINPRO - Finance and Productivity Conference

 A conference jointly organised by the Bank of Italy, CEPR, CompNet, EBRD & IWH.

The topic of this year's FINPRO conference was: "Green Deal: reformation, evolution, and revolution" and took place on 8-9 June 2023 at the Bank of Italy in Rome

Our keynote speaker was Philippe Aghion (INSEAD and CEPR).

The official program can be found here.


Welcoming Address

by Ignazio Visco (Governor Bank of Italy) and  Filippo di Mauro (Chairman of CompNet)

Session 1: Climate shocks and resource reallocation 

1. "Climate Change, Firms and the Macroeconomy" by Andrea Caggese (Universitat Pompeu Fabra)

Discussant: Matteo Alpino (Bank of Italy)

2. "Carbon Pricing, Credit Reallocation and Real Effects" by Andrea Fabiani (Bank of Italy)

Discussant: Tim Eisert (Erasmus University)

Session 2: Sustainability reporting and finance

3. “Glossy Green” Banks: The Disconnect Between Sustainability Reporting and Lending Activities by Mariassunta Giannetti (Stockholm School of Economics and CEPR)

Discussant: Luana Zaccaria (EIEF)

4. "Sustainability or Greenwashing: Evidence from the Asset Market for Industrial Pollution" by  Qiping Xu (University Of Illinois Urbana Champaign)

Discussant: Clement Mazet-Sonillac (Bocconi)

Session 3: “Green” profits and technology adoption

5. "Corporate Taxation and Carbon Emissions" by Thorsten Martin (Bocconi University) Discussant: Giacomo Caracciolo (Bank of Italy)

6. "Financing the Adoption of Clean Technology" by Adriano Rampini (Duke University and CEPR)

Discussant: Cristiano Cantore (Sapienza University of Rome)

Session 4: Policy Panel Green Deal: reformation, evolution, and revolution" with Paolo Angelini (Deputy Governor, Bank of Italy), Pilar Castrillo (Deputy Head of Economic Analysis, ESM), Isabel Vanstenkisten (Director General, International Departmecnt at the ECB) Moderator: Filippo di Mauro (Chairman, CompNet)

Session 5: Costs of energy, emissions, and firms

7. "The Effects of the 2021 Energy Crisis on Medium and Large Industrial Firms: evidence from Italy" by Annalisa Frigo (Banca D'Italia)

Discussant: Chiara Criscuolo (OECD)

8. "The Effect of Carbon Pricing on Firm Emissions: Evidence from the Swedish CO2 Tax" by Per Strömberg (Stockholm School of Economics and CEPR)

Discussant: Carolina Villegas-Sanchez (ESADE)

Keynote Speech by Philippe Aghion (INSEAD and CEPR)

Session 6: Credit and banking

9. "Climate, Amenities and Banking: El Nino in the US" by Filippo De Marco (Bocconi University and CEPR)

Discussant: Ralph de Haas (EBRD)

10. "Credit supply and green investments" by Emilia Garcia-Appendini (Central Bank of Norway)

Discussant: Matteo Paradisi (EIEF)