The Third International Conference on the Climate-Macro-Finance Interface (3CMFI):

The Leibniz Institute for Financial Research SAFE
Goethe University Frankfurt
Theodor-W.-Adorno-Platz 3, 60323 Frankfurt am Main (Germany)

 

Program Notes and Index of Sessions

 

Summary of All Sessions

Click here for an index of all participants

#Date/TimeTitle/LocationPapers
1March 23, 2026
8:45-9:55
REGISTRATION AND COFFEE0
2March 23, 2026
9:55-10:10
WELCOME - F. Heider (SAFE & Goethe University of Frankfurt), C. Meinerding (Bundesbank), C. Morana (University of Milano-Bicocca & RCEA-EUROPE), C. Willeke (European Central Bank)0
3March 23, 2026
10:10-11:00
KEYNOTE 1: Balancing Growth, Stability, and Sustainability in a World of Rising Challenges — Sabine Mauderer (Bundesbank), Chair: Caroline Willeke (European Central Bank)0
4March 23, 2026
11:00-12:00
BUNDESBANK SPECIAL SESSION - Chair: Christoph Meinerding (Bundesbank)0
5March 23, 2026
12:00-13:30
LUNCH0
6March 23, 2026
13:30-15:30
CLIMATE AND FINANCIAL MARKETS5
7March 23, 2026
13:30-15:30
CLIMATE POLICY AND TAXATION5
8March 23, 2026
13:30-15:30
CLIMATE RISK AND MACRO-FINANCIAL IMPACT 15
9March 23, 2026
13:30-15:30
FINANCIAL RISK AND ASSET PRICES5
10March 23, 2026
13:30-15:30
GREEN BONDS5
11March 23, 2026
13:30-15:30
INTERNATIONAL TRADE AND COMPETITIVENESS5
12March 23, 2026
13:30-15:30
PRODUCTIVITY AND SUPPLY SIDE DYNAMICS5
13March 23, 2026
15:30-16:00
COFFEE BREAK0
14March 23, 2026
16:00-17:00
KEYNOTE 2: The Political Economy of Silicon Valley and its Implications for Financial Stability — Hilary Allen (American University), Chair: TBA0
15March 23, 2026
17:00-18:00
KEYNOTE 3: AI and the European Economy — Philip Lane (European Central Bank), Chair: Florian Heider (SAFE & Goethe University of Frankfurt)0
16March 23, 2026
18:00-19:00
Cocktail Reception (Goethe University of Frankfurt Campus)0
17March 23, 2026
19:30-21:30
Pay‑as‑you‑go informal gathering at WAXY’s Irish Pub & Restaurant (Rahmhofstraße 1, 60313 Frankfurt am Main)0
18March 24, 2026
8:00-8:30
REGISTRATION0
19March 24, 2026
8:30-10:30
CLIMATE AND FINANCIAL RISK4
20March 24, 2026
8:30-10:30
CLIMATE CHANGE AND THE HOUSEHOLDS5
21March 24, 2026
8:30-10:30
ESG AND THE GREEEN TRANSITION5
22March 24, 2026
8:30-10:30
GREEN TRANSITION AND THE CORPORATE SECTOR5
23March 24, 2026
8:30-10:30
MACROECONOMIC SHOCKS5
24March 24, 2026
8:30-10:30
MONETARY POLICY AND CREDIT5
25March 24, 2026
10:30-11:00
COFFEE BREAK0
26March 24, 2026
11:00-13:00
CARBON EMISSIONS AND MONETARY POLICY5
27March 24, 2026
11:00-13:00
CLIMATE CHANGE AND THE ENERGY SECTOR5
28March 24, 2026
11:00-13:00
CLIMATE POLICY AND CORPORATE DYNAMICS5
29March 24, 2026
11:00-13:00
CLIMATE RISK AND MACRO-FINANCIAL IMPACT 25
30March 24, 2026
11:00-13:00
FISCAL POLICY AND FISCAL RISK5
31March 24, 2026
11:00-13:00
GEOPOLITICAL RISK5
32March 24, 2026
13:00-14:30
LUNCH0
33March 24, 2026
14:30-15:30
ECB SPECIAL SESSION - Chair Livio Stracca (European Central Bank)0
34March 24, 2026
15:30-16:30
KEYNOTE 4: Climate Transition Risks and the Energy Sector — Stefano Giglio (Yale University), Chair: Francesco Paolo Mongelli (Goethe University of Frankfurt)0
35March 24, 2026
16:30-16:40
REJOINDER0
 

35 sessions, 94 papers, and 0 presentations with no associated papers


 

The Third International Conference on the Climate-Macro-Finance Interface (3CMFI):

Detailed List of Sessions

 
Session 1: REGISTRATION AND COFFEE
March 23, 2026 8:45 to 9:55
 
 
Session 2: WELCOME - F. Heider (SAFE & Goethe University of Frankfurt), C. Meinerding (Bundesbank), C. Morana (University of Milano-Bicocca & RCEA-EUROPE), C. Willeke (European Central Bank)
March 23, 2026 9:55 to 10:10
 
 
Session 3: KEYNOTE 1: Balancing Growth, Stability, and Sustainability in a World of Rising Challenges — Sabine Mauderer (Bundesbank), Chair: Caroline Willeke (European Central Bank)
March 23, 2026 10:10 to 11:00
 
 
Session 4: BUNDESBANK SPECIAL SESSION - Chair: Christoph Meinerding (Bundesbank)
March 23, 2026 11:00 to 12:00
 
 
Session 5: LUNCH
March 23, 2026 12:00 to 13:30
 
 
Session 6: CLIMATE AND FINANCIAL MARKETS
March 23, 2026 13:30 to 15:30
 
 

Sustainability Regulation Index and Its Impact on Global Equity Returns
   By Anjeza Kadilli; University of Applied Sciences of Western Switzerland, Geneva
   Presented by: Anjeza Kadilli, University of Applied Sciences of Western Switzerland, Geneva
 

Uncovering transition risk: A new stress testing approach for the banking sector
   By Roberto Calogero Panzica; banco do portugal
   Martin Saldias; Banco de Portugal
   Presented by: Roberto Calogero Panzica, banco do portugal
 

Climate policy and banks’ portfolio allocation
   By Dennis Reinhardt; Bank of England
   Presented by: Dennis Reinhardt, Bank of England
 

Trump the Greenium? Evidence about the US Withdrawal from the Paris Accord
   By David Echeverry; Universidad de Navarra
   Presented by: David Echeverry, Universidad de Navarra
 

The Effects of Climate Change and Climate Policy on Credit Risk
   By Erik Kole; Erasmus University Rotterdam
   Rasmus Lönn; Erasmus School of Economics - Erasmus University Rotterdam
   Matthijs Leegstra; Erasmus School of Economics, Erasmus University Rotterdam
   Presented by: Erik Kole, Erasmus University Rotterdam
 
Session 7: CLIMATE POLICY AND TAXATION
March 23, 2026 13:30 to 15:30
 
 

Policy Uncertainty and Heterogeneous Effects of Climate Policy
   By Garth Heutel; Georgia State University
   Givi Melkadze; Georgia State University
   Alessandro Sardone; Halle Institute for Economic Research (IWH)
   Presented by: Alessandro Sardone, Halle Institute for Economic Research (IWH)
 

Mirrleesian Carbon Taxation
   By Andrea Chiavari; University of Oxford
   Alexandre Kohlhas; University of Oxford
   Presented by: Alexandre Kohlhas, University of Oxford
 

Carbon, Biodiversity and the Option Values of Climate Policies
   By Ottmar Edenhofer; Potsdam Institute for Climate Impact Research
   Max Franks
   Presented by: Max Franks,
 

The Macroeconomics of Green Transitions
   By Gregor Boehl
   Flora Budianto; Technical University Vienna
   Elod Takats; BIS
   Presented by: Elod Takats, BIS
 

The Green Energy Transition in a Putty-Clay Model of Capital
   By Natalie Rickard; Bank of England
   Presented by: Natalie Rickard, Bank of England
 
Session 8: CLIMATE RISK AND MACRO-FINANCIAL IMPACT 1
March 23, 2026 13:30 to 15:30
 
 

Temperature Distributional Shocks: Identification and Macroeconomic Effects
   By Maria Dolores Gadea; University of Zaragoza
   Jesus Gonzalo; Universidad Carlos III de Madrid
   Andrey Ramos; Bank of Spain
   Presented by: Maria Dolores Gadea, University of Zaragoza
 

Extreme Weather in Europe: Determinants and Economic Impact
   By Marcelle Chauvet; University of California Riverside
   Claudio Morana; Università di Milano-Bicocca
   Murilo Silva; Union College - NY
   Presented by: Claudio Morana, Università di Milano-Bicocca
 

Global Temperature and the Global Financial Cycle
   By Paolo Gelain; Federal Reserve Bank of Cleveland
   Marco Lorusso; Newcastle University Business School
   Presented by: Paolo Gelain, Federal Reserve Bank of Cleveland
 

Climate Minsky Moments and Endogenous Financial Crises
   By Matthias Kaldorf; Deutsche Bundesbank
   Matthias Rottner; Bank for International Settlements
   Presented by: Matthias Kaldorf, Deutsche Bundesbank
 

The macro-regional effects of green public funds
   By Carolin Nerlich; ECB
   Presented by: Carolin Nerlich, ECB
 
Session 9: FINANCIAL RISK AND ASSET PRICES
March 23, 2026 13:30 to 15:30
 
 

Measuring Bank Regulations: A Text-Based Approach
   By Sami Mahmood; National University of Singapore
   Presented by: Sami Mahmood, National University of Singapore
 

Do Bank Stress Tests Constrain Growth?
   By Sam Deegan; University College Dublin
   Presented by: Sam Deegan, University College Dublin
 

International Banking Flows and Financial Crises
   By Francesco Molteni; Independent & RCEA
   Presented by: Francesco Molteni, Independent & RCEA
 

Managing Financial Crises
   By Gianluca Benigno; HEC- University of Lausanne
   Alessandro Rebucci; Johns Hopkins University
   Aliaksandr Zaretski; University of Surrey
   Presented by: Aliaksandr Zaretski, University of Surrey
 

A No-Arbitrage Approach to Asset Pricing using Panel Data
   By Fabio Araujo; BCB
   Antonio Galvao; Michigan State University
   João Issler; Getulio Vargas Foundation
   Presented by: João Issler, Getulio Vargas Foundation
 
Session 10: GREEN BONDS
March 23, 2026 13:30 to 15:30
 
 

Green Portfolios
   By Juan Carlos Parra-Alvarez; Aarhus University
   Frederik Lundtofte; Aalborg University
   Thomas Fischer; Lund University
   Presented by: Thomas Fischer, Lund University
 

Anticipating corporate emissions depending on the ambition and early action of companies
   By Loïc Marcadet; Université d'Orléans
   Tom Picard; Nexialog Consulting
   Matthieu Picault; IESEG
   Presented by: Loïc Marcadet, Université d'Orléans
 

The carbon footprint of green bonds: evidence from project-level data
   By Emmanouil Pyrgiotakis; University College Dublin
   Presented by: Emmanouil Pyrgiotakis, University College Dublin
 

Cui prodest? The heterogeneous impact of green bonds on companies' environmental performance
   By Andrea Zaghini; Banca d'Italia
   Presented by: Andrea Zaghini, Banca d'Italia
 

The greenness of European Green Bonds
   By Paola Galfrascoli; University of Milano-Bicocca
   Gianna Monti; University of Milano-Bicocca
   Elisa Ossola; Università di Milano-Bicocca
   Presented by: Paola Galfrascoli, University of Milano-Bicocca
 
Session 11: INTERNATIONAL TRADE AND COMPETITIVENESS
March 23, 2026 13:30 to 15:30
 
 

Dissecting Trade Uncertainty
   By Juan M. Londono; Federal Reserve Board
   Sophia Qin; Stanford University
   Sai Ma; Federal Reserve Board
   Presented by: Juan M. Londono, Federal Reserve Board
 

Tariffs across the supply chain
   By Nicolò Gnocato; European Central Bank
   Carlos Montes-Galdon; European Central Bank
   Giovanni Stamato; European Central Bank
   Presented by: Nicolò Gnocato, European Central Bank
 

Persistent Global Growth Differences and Euro Area Adjustment: Real Activity, Trade and the Real Exchange Rate
   By Adrian Ifrim; JRC, European Commission
   Robert Kollmann; Universite Libre de Bruxelles & CEPR
   Philipp Pfeiffer; DG ECFIN, European Commission
   Marco Ratto; JRC, European Commission
   Werner Roeger; DIW; VIVES, KU Leuven
   Presented by: Robert Kollmann, Universite Libre de Bruxelles & CEPR
 

U.S. Competitiveness and External Debt. Some overlooked aspects of the crisis in the “American order”
   By Fabiana De Cristofaro; Italian Ministry of Economy and Finance
   Emiliano Brancaccio; University Federico II
   Presented by: Fabiana De Cristofaro, Italian Ministry of Economy and Finance
 

A well-crafted BEER: Identifying the fundamental drivers of real exchange rates
   By Mirjam Salish; European Commission and Oesterreichische Nationalbank
   Mathilde Dufouleur
   Milan Vyskrabka; European Commission
   Stefan Zeugner; European Commission
   Presented by: Mirjam Salish, European Commission and Oesterreichische Nationalbank
 
Session 12: PRODUCTIVITY AND SUPPLY SIDE DYNAMICS
March 23, 2026 13:30 to 15:30
 
 

Diagnosing Structural Forecast Errors: A Neural Network Framework for DSGE Models
   By Alice Albonico; Università di Milano-Bicocca
   Marco Guerzoni; Università Milano-Bicocca
   Florin-Andrei rusu; ECB
   Presented by: Marco Guerzoni, Università Milano-Bicocca
 

Tail risk propagation in inflation expectations
   By Omid Ardakani; Georgia Southern University
   Presented by: Omid Ardakani, Georgia Southern University
 

Why Do Supply Disruptions Lead to Inflation? Survey Evidence from the COVID Pandemic
   By Thomas Kohler; Bochum University of Applied Sciences
   Jean-Paul L'Huillier; Brandeis University
   Gregory Phelan; Williams College
   Maximilian Weiß; University of Tübingen
   Presented by: Thomas Kohler, Bochum University of Applied Sciences
 

Firms Adaptation in a Critical Input Crisis
   By Costanza Tomaselli; Imperial College Business School
   Presented by: Costanza Tomaselli, Imperial College Business School
 

Spillovers, Innovation Difficulty, and the Dynamics of Productivity
   By Alice Albonico; Università di Milano-Bicocca
   Marco Guerzoni; Università Milano-Bicocca
   Presented by: Alice Albonico, Università di Milano-Bicocca
 
Session 13: COFFEE BREAK
March 23, 2026 15:30 to 16:00
 
 
Session 14: KEYNOTE 2: The Political Economy of Silicon Valley and its Implications for Financial Stability — Hilary Allen (American University), Chair: TBA
March 23, 2026 16:00 to 17:00
 
 
Session 15: KEYNOTE 3: AI and the European Economy — Philip Lane (European Central Bank), Chair: Florian Heider (SAFE & Goethe University of Frankfurt)
March 23, 2026 17:00 to 18:00
 
 
Session 16: Cocktail Reception (Goethe University of Frankfurt Campus)
March 23, 2026 18:00 to 19:00
 
 
Session 17: Pay‑as‑you‑go informal gathering at WAXY’s Irish Pub & Restaurant (Rahmhofstraße 1, 60313 Frankfurt am Main)
March 23, 2026 19:30 to 21:30
 
 
Session 18: REGISTRATION
March 24, 2026 8:00 to 8:30
 
 
Session 19: CLIMATE AND FINANCIAL RISK
March 24, 2026 8:30 to 10:30
 
 

When Climate Risk Becomes Local: Evidence from the U.S. Municipal Bond Market
   By Frederic Grüninger; Ruhr University Bochum
   Presented by: Frederic Grüninger, Ruhr University Bochum
 

Does Biodiversity Risk Affect Financial Risk? Evidence from U.S. Firms.
   By Almudena García-Sanz; Complutense University of Madrid
   Presented by: Almudena García-Sanz, Complutense University of Madrid
 

Sectoral Green Risk Premia and Transition Risk
   By Matteo Bondesan; Collegio Carlo Alberto
   Andrea Flori; Politecnico di Milano
   Luca Regis; University of Torino
   Luca Trapin; Università di Bologna
   Presented by: Matteo Bondesan, Collegio Carlo Alberto
 

Climate Change As a New Source of Systemic Risk: European European Banks and Climate Risk Exposure
   By Claudia Cannas; Università Cattolica del Sacro Cuore
   Presented by: Claudia Cannas, Università Cattolica del Sacro Cuore
 
Session 20: CLIMATE CHANGE AND THE HOUSEHOLDS
March 24, 2026 8:30 to 10:30
 
 

Impact on house prices of an energy renovation obligation for homebuyers
   By Peter Reusens; National Bank of Belgium
   Presented by: Peter Reusens, National Bank of Belgium
 

Housing Market Structure and Energy Efficiency Renovation
   By Egle Jakucionyte; Bank of Lithuania
   Swapnil Singh; Bank of Lithuania and Kaunas University of Technology
   Presented by: Egle Jakucionyte, Bank of Lithuania
 

The Green Transition and Households' Macroeconomic Expectations: A Survey Experiment
   By Tjantana Barro; University of Konstanz
   Michal Marencak; National Bank of Slovakia
   Giang Nghiem; Leibniz University Hannover
   Presented by: Michal Marencak, National Bank of Slovakia
 

Disaster Risk and Wealth Inequality
   By Alexander Dietrich; Danmarks Nationalbank
   Gernot Mueller; University of Tuebingen
   Maximilian Weiß; University of Tübingen
   Presented by: Maximilian Weiß, University of Tübingen
 

Climate change and socio-economic inequality in the US
   By Tatjana Dahlhaus; Bank of Canada
   Barbara Sadaba; Universidad Diego Portales
   Presented by: Barbara Sadaba, Universidad Diego Portales
 
Session 21: ESG AND THE GREEEN TRANSITION
March 24, 2026 8:30 to 10:30
 
 

Network Embeddedness and ESG Performance: A Spatio-Temporal Analysis of Chinese Firms
   By Jiayi Hu; University of Leeds
   Presented by: Jiayi Hu, University of Leeds
 

The Green Value of BigTech Credit
   By Dan Su; Cheung Kong Graduate School of Business
   Presented by: Dan Su, Cheung Kong Graduate School of Business
 

How banks’ sustainability activities shape borrowers’ ESG performance: Evidence of peer effects through lending networks
   By Geyao Zhang; University of Leeds
   Presented by: Geyao Zhang, University of Leeds
 

Carbon Pricing Policies and Executive Compensation Tied to ESG Performance
   By Weimian Ai; Singapore Management University
   David Samuel; Singapore Management University
   Liandong Zhang; Singapore Management University
   Presented by: Weimian Ai, Singapore Management University
 

On the roadmap for EU sustainable finance requirements
   By Marco Angheben; European Datawarehouse
   Maitane Puente Gonzalez; European Datawarehouse
   Presented by: Marco Angheben, European Datawarehouse
 
Session 22: GREEN TRANSITION AND THE CORPORATE SECTOR
March 24, 2026 8:30 to 10:30
 
 

Does Financial Development Favor Firms’ Clean Technology Adoption?
   By Shengyu Li; Tilburg University
   Presented by: Shengyu Li, Tilburg University
 

Strategic Integration of Developing Countries in Green Global Production Networks: The Differential Impact of Exchange Rate Policies on International Renewable Energy Investment
   By Ilias Chiboub; Mohammed V University of Rabat
   Hicham sadok; Mohamed V university in Rabat
   Presented by: Ilias Chiboub, Mohammed V University of Rabat
 

Climate Risk in the Supply Chain: Evidence from the Cost of Debt
   By Enrico Onali; University of Bristol
   Yunfan Sheng; University of Bath
   Presented by: Enrico Onali, University of Bristol
 

Carbon Risk in Loan Pricing: Commitment Channels and Real Effects
   By Yao Dong; King's College London
   Martina Hengge; IMF
   Fabian Valencia; International Monetary Fund
   Richard Varghese; International Monetary Fund
   Presented by: Yao Dong, King's College London
 

Can firms finance their low-carbon transition via the bonds market? Empirical analysis of the EU ETS and bond issuances
   By Nada Fadl; University of Cologne
   Presented by: Nada Fadl, University of Cologne
 
Session 23: MACROECONOMIC SHOCKS
March 24, 2026 8:30 to 10:30
 
 

High Frequency Cross Sectional Identification of Military News Shocks
   By Edoardo Briganti; Bank of Canada
   Presented by: Edoardo Briganti, Bank of Canada
 

Quantifying Demand Shocks in the Green and Digital Transition
   By Andrea Bastianin; University of Milan
   Luca Rossini; University of Milan
   Presented by: Andrea Bastianin, University of Milan
 

Dancing in the Dark: Sentiment Shocks and Economic Activity
   By Maximilian Boeck; Friedrich-Alexander-University Erlangen-Nuremberg
   Zeno Enders; Heidelberg University
   Michael Kleemann; Deutsche Bundesbank
   Gernot Mueller; University of Tuebingen
   Presented by: Zeno Enders, Heidelberg University
 

International Transmission of U.S. and U.K. Monetary Policy Surprises
   By Saroj Bhattarai; University of Texas at Austin
   Arpita Chatterjee; Federal Reserve Board
   Woong Yong Park; Seoul National University
   Presented by: Arpita Chatterjee, Federal Reserve Board
 

What volatility reveals: agnostic identification of exchange rate shocks in the Trump era
   By Lucas ter Steege; Deustche Bundesbank
   Sofia Velasco; Banco de España
   Presented by: Sofia Velasco, Banco de España
 
Session 24: MONETARY POLICY AND CREDIT
March 24, 2026 8:30 to 10:30
 
 

Public debt and monetary policy transmission: evidence from advanced and emerging Europe
   By Christopher Johns; Georgetown University
   Aaron Mehrotra; Bank for International Settlements
   Fabrizio Zampolli; Bank for International Settlements
   Presented by: Aaron Mehrotra, Bank for International Settlements
 

How Do Quantitative Easing and Tightening Affect Firms?
   By Egemen Eren; Bank for International Settlements
   Denis Gorea; Bank for International Settlements
   Daojing Zhai; Yale
   Presented by: Denis Gorea, Bank for International Settlements
 

The Limits of Fiscal and Monetary Policy Coordination in Liquidity Transmission
   By Ioannis Paraskevopoulos; Universidad Pontificia Comillas
   Presented by: Ioannis Paraskevopoulos, Universidad Pontificia Comillas
 

Banks, Firms, and Households: Credit Shock Amplification and Real Effects
   By Jin Cao; Norges Bank
   Cedric Huylebroek; KU Leuven
   Presented by: Jin Cao, Norges Bank
 

Monetary Policy and Credit Gap: What about Central Bank Independence?
   By Bilge Karatas; Utrecht University
   Presented by: Bilge Karatas, Utrecht University
 
Session 25: COFFEE BREAK
March 24, 2026 10:30 to 11:00
 
 
Session 26: CARBON EMISSIONS AND MONETARY POLICY
March 24, 2026 11:00 to 13:00
 
 

The ECB’s Green Put: From Cheap Talk to Priced Action
   By Tristan Jourde; Banque de France
   Urszula Szczerbowicz; SKEMA Business School
   Floris Van Dijk; Banque de France
   Presented by: Tristan Jourde, Banque de France
 

The Power of Words: Central Bank Green Communication and Performance of Energy Sectors
   By Karen Davtyan; Autonomous University of Barcelona
   Adel Kalozdi; Universitat Autonoma de Barcelona
   Presented by: Karen Davtyan, Autonomous University of Barcelona
 

Carbon Emissions and the Transmission of Monetary Policy
   By Jose Nicolas Rosas; Banco de España
   Presented by: Jose Nicolas Rosas, Banco de España
 

Greenback? Sustainable Investing and the International Transmission of Monetary Policy
   By Marco Garofalo; Bank of England - University of Oxford
   Presented by: Marco Garofalo, Bank of England - University of Oxford
 

Does Climate Vulnerability Weaken Monetary Policy Transmission? Evidence from Emerging Markets and Developing Economies
   By Liuqing Yu; National University of Singapore
   Ramkishen Rajan; National University of Singapore
   Sasidaran Gopalan; National University of Singapore
   Presented by: Liuqing Yu, National University of Singapore
 
Session 27: CLIMATE CHANGE AND THE ENERGY SECTOR
March 24, 2026 11:00 to 13:00
 
 

Green Tax Pass-Through to Retail Fuel Prices and Firm Heterogeneity: Evidence from France
   By Nikolaos Charalampidis; Université Laval
   Justine Guillochon; Laval University
   Presented by: Nikolaos Charalampidis, Université Laval
 

Fracking the Union? Oil Shocks and the Rise of U.S. Political Polarization
   By Rubens Morita; University of Exeter
   Charisios Grivas; Aalborg University
   Presented by: Rubens Morita, University of Exeter
 

Soft Power: Does It Help Foster CO2 Emissions Reduction?
   By Carlo Andrea Bollino; Università di Perugia
   Marzio Galeotti; Università di Milano
   Presented by: Carlo Andrea Bollino, Università di Perugia
 

Renewable Technologies and Global Spillovers as Drivers of the Energy Transition – A Model-Guided Study and GVAR Empirics
   By Willi Semmler; New School NY, University of Bielefeld
   Presented by: Willi Semmler, New School NY, University of Bielefeld
 

Modelling the Transition of Fossil Fuel Corporations
   By Elena Diaz; Universidad Pontificia Comillas
   Isabel Figuerola; ICADE,
   Ioannis Paraskevopoulos; Universidad Pontificia Comillas
   Presented by: Elena Diaz, Universidad Pontificia Comillas
 
Session 28: CLIMATE POLICY AND CORPORATE DYNAMICS
March 24, 2026 11:00 to 13:00
 
 

Drought Shocks and Corporate Dynamics: Evidence from European Firms
   By Leonardo Ciotti; Luiss Guido Carli University
   stefano di colli; Confindustria
   Matteo Renghini; Università Politecnica delle Marche
   Presented by: Leonardo Ciotti, Luiss Guido Carli University
 

Product Relatedness and Latent Production Potential of Green Goods in the EU: Evidence from International Trade Flows
   By Andrea Brasili; EIB
   Gino Magnini; Cambridge Econometrics
   Presented by: Andrea Brasili, EIB
 

Cross-Border Transmission of Climate Policies through Global Production Networks
   By Marius Fourné; Martin-Luther-University Halle-Wittenberg and Halle Institute for Economic
   Presented by: Marius Fourné, Martin-Luther-University Halle-Wittenberg and Halle Institute for Economic
 

Carbon Pricing and AI Diffusion: How Climate Policy Reshapes Automation and Labor Markets
   By Ibrahim Tahri; International Institute for Applied System Analysis
   Presented by: Ibrahim Tahri, International Institute for Applied System Analysis
 

Climate Change Policy Shocks and the Labour Market Dynamism
   By Angelica Bertucci; University of Pavia
   Presented by: Angelica Bertucci, University of Pavia
 
Session 29: CLIMATE RISK AND MACRO-FINANCIAL IMPACT 2
March 24, 2026 11:00 to 13:00
 
 

Accounting for Ocean Impacts Nearly Doubles the Social Cost of Carbon
   By Francesco Granella; CMCC Foundation
   Presented by: Francesco Granella, CMCC Foundation
 

The macroeconomic effects of extreme weather events in Spain: a high-frequency, regional approach
   By Miguel Angel Gavilan Rubio; European Stability Mechanism
   Jemima Peppel-Srebrny; European Stability Mechanism
   Presented by: Jemima Peppel-Srebrny, European Stability Mechanism
 

Climate stress test of the global supply chain network: the case of river floods
   By Georgios Papadopoulos; Bank of Greece
   Javier Ojea-Ferreiro; Bank of Canada
   Roberto Calogero Panzica; banco do portugal
   Presented by: Georgios Papadopoulos, Bank of Greece
 

Quantile Analysis of Climate Risks and Financial Stability in Emerging Market Economies
   By Margaux Person; Nantes University
   Presented by: Margaux Person, Nantes University
 

The Climate, it is a Changing - An Analysis of Regional Temperature Anomalies in China Using Extreme Value Theory
   By Marc Gronwald; Xi'an Jiaotong-Liverpool University
   Xin Jin; Duke Kunshan University
   Sania Wadud; University of Leeds
   Presented by: Sania Wadud, University of Leeds
 
Session 30: FISCAL POLICY AND FISCAL RISK
March 24, 2026 11:00 to 13:00
 
 

Fiscal Risks and Consolidations
   By Francesco Frangiamore; Università degli Studi di Palermo
   Davide Furceri; International Monetary Fund
   Domenico Giannone; Johns Hopkins University
   Faizaan Kisat; Princeton University
   Pietro Pizzuto; Università di Palermo
   Presented by: Francesco Frangiamore, Università degli Studi di Palermo
 

The Macroeconomic Effects of Sovereign Risk: New Evidence from U.S. Debt Ceiling Episodes
   By Dario Cardamone; University of Notre Dame
   Presented by: Dario Cardamone, University of Notre Dame
 

Under Pressure: Sovereign Debt Challenges in a Warming World
   By Caterina Seghini; Banque de France
   Stephane Dees; Banque de France
   Annabelle de Gaye; Banque de France
   Presented by: Caterina Seghini, Banque de France
 

AI Meets Fiscal Policy: Mapping Government Spending Actions Across 64 Countries
   By Shuvam Das; International Monetary Fund
   Presented by: Shuvam Das, International Monetary Fund
 

Decoding climate-related risks in sovereign bond pricing: A global perspective
   By Sofia Anyfantaki; European Central Bank
   Presented by: Sofia Anyfantaki, European Central Bank
 
Session 31: GEOPOLITICAL RISK
March 24, 2026 11:00 to 13:00
 
 

A Geopolitical Risk Indicator for the Euro Area
   By Yevheniia Bondarenko; Deutsche Bundesbank
   Nayeon Kang; Deutsche Bundesbank
   Vivien Lewis; Deutsche Bundesbank
   Matthias Rottner; BIS
   Yves Stephan Schueler; Bundesbank
   Presented by: Nayeon Kang, Deutsche Bundesbank
 

Economic Narratives and Realities of Geopolitical Risk
   By Sarah Arndt; European Central Bank
   Yevheniia Bondarenko; Deutsche Bundesbank
   Vivien Lewis; Deutsche Bundesbank
   Matthias Rottner; Bank for International Settlements
   Yves S. Schüler; Deutsche Bundesbank
   Presented by: Yevheniia Bondarenko, Deutsche Bundesbank
 

The geopolitics of rarity: Mapping strategic trade dependencies for rare earths
   By Agnieszka Gehringer; Technische Hochschule Köln
   Presented by: Agnieszka Gehringer, Technische Hochschule Köln
 

Sanctions and the EU–Russia trade relationship
   By Cristiano De Cesari; Università di Padova
   Giulio Cainelli; University of Padova
   Roberto Ganau; University of Padova
   Presented by: Cristiano De Cesari, Università di Padova
 

Chinese Banks and their EMDE Borrowers: Have Their Relationships Changed in Times of Geoeconomic Fragmentation?
   By Catherine Casanova; Swiss National Bank
   Eugenio Cerutti; International Monetary Fund
   Presented by: Catherine Casanova, Swiss National Bank
 
Session 32: LUNCH
March 24, 2026 13:00 to 14:30
 
 
Session 33: ECB SPECIAL SESSION - Chair Livio Stracca (European Central Bank)
March 24, 2026 14:30 to 15:30
 
 
Session 34: KEYNOTE 4: Climate Transition Risks and the Energy Sector — Stefano Giglio (Yale University), Chair: Francesco Paolo Mongelli (Goethe University of Frankfurt)
March 24, 2026 15:30 to 16:30
 
 
Session 35: REJOINDER
March 24, 2026 16:30 to 16:40
 
 

 

Index of Participants

Legend: C=chair, P=Presenter, D=Discussant
#ParticipantRoles in Conference
1Ai, WeimianP21
2Albonico, AliceP12
3Angheben, MarcoP21
4Anyfantaki, SofiaP30
5Ardakani, OmidP12
6Bastianin, AndreaP23
7Bertucci, AngelicaP28
8Bollino, Carlo AndreaP27
9Bondarenko, YevheniiaP31
10Bondesan, MatteoP19
11Brasili, AndreaP28
12Briganti, EdoardoP23
13Cannas, ClaudiaP19
14Cao, JinP24
15Cardamone, DarioP30
16Casanova, CatherineP31
17Charalampidis, NikolaosP27
18Chatterjee, ArpitaP23
19Chiboub, IliasP22
20Ciotti, LeonardoP28
21Das, ShuvamP30
22Davtyan, KarenP26
23De Cesari, CristianoP31
24De Cristofaro, FabianaP11
25Deegan, SamP9
26Diaz, ElenaP27
27Dong, YaoP22
28Echeverry, DavidP6
29Enders, ZenoP23
30Fadl, NadaP22
31Fischer, ThomasP10
32Fourné, MariusP28
33Frangiamore, FrancescoP30
34Franks, MaxP7
35Gadea, Maria DoloresP8
36Galfrascoli, PaolaP10
37García-Sanz, AlmudenaP19
38Garofalo, MarcoP26
39Gehringer, AgnieszkaP31
40Gelain, PaoloP8
41Gnocato, NicolòP11
42Gorea, DenisP24
43Granella, FrancescoP29
44Grüninger, FredericP19
45Guerzoni, MarcoP12
46Hu, JiayiP21
47Issler, JoãoP9
48Jakucionyte, EgleP20
49Jourde, TristanP26
50Kadilli, AnjezaP6
51Kaldorf, MatthiasP8
52Kang, NayeonP31
53Karatas, BilgeP24
54Kohler, ThomasP12
55Kohlhas, AlexandreP7
56Kole, ErikP6
57Kollmann, RobertP11
58Li, ShengyuP22
59Londono, Juan M.P11
60Mahmood, SamiP9
61Marcadet, LoïcP10
62Marencak, MichalP20
63Mehrotra, AaronP24
64Molteni, FrancescoP9
65Morana, ClaudioP8
66Morita, RubensP27
67Nerlich, CarolinP8
68Onali, EnricoP22
69Panzica, Roberto CalogeroP6
70Papadopoulos, GeorgiosP29
71Paraskevopoulos, IoannisP24
72Peppel-Srebrny, JemimaP29
73Person, MargauxP29
74Pyrgiotakis, EmmanouilP10
75Reinhardt, DennisP6
76Reusens, PeterP20
77Rickard, NatalieP7
78Rosas, Jose NicolasP26
79Sadaba, BarbaraP20
80Salish, MirjamP11
81Sardone, AlessandroP7
82Seghini, CaterinaP30
83Semmler, WilliP27
84Su, DanP21
85Tahri, IbrahimP28
86Takats, ElodP7
87Tomaselli, CostanzaP12
88Velasco, SofiaP23
89Wadud, SaniaP29
90Weiß, MaximilianP20
91Yu, LiuqingP26
92Zaghini, AndreaP10
93Zaretski, AliaksandrP9
94Zhang, GeyaoP21

 

This program was last updated on 2026-02-02 10:26:08 EDT