Banque de France

The Role of Protectionism and Fragmentation in Macroeconomics

Published on 10th of April 2026

At a time of rising geopolitical tensions, increasing barriers to trade, and heightened fragility in global supply chains, the conference aims to bring together scholars, researchers, and policymakers to discuss the macroeconomic implications of these trends.

The conference will take place in Paris on October 23, 2026.

Agenda

09:30-10:00	Registration
10:00-11:30	Session 1: Tariffs and Industrial policies
10:00-10:30	“Industrial Policies, Global Imbalances and Technological Hegemony” Ambrogio Cesa-Bianchi (Bank of England, CEPR)
10:30-10:40	Discussant: Paul Bouscasse (Sciences Po, CEPR)
10:40-10:45	Q & A
10:45-11:15	“The Propagation of Tariff Shocks via Production Networks” Gernot Mueller (University of Tuebingen, CEPR)
11:15-11:25	Discussant: Francesca Monti (Université Catholique de Louvain, CEPR)
11:25-11:30	Q & A
11:30-12:00	Coffee Break
12:00-13:00	Session 2: Keynote Speech Giancarlo Corsetti (EUI, CEPR)
13:00-14:00	Lunch
14:00-15:30	Session 3: Geopolitical Risk
14:00-14:30	“Geopolitical risk and inflation heterogeneity in the Euro Area” Alejandro Van der Ghote (European Central Bank)
14:30-14:40	Discussant: José Nicolàs Rosas (Banco de Espana)
14:40-14:45	Q & A
14:45-15:15	“Adapting to Brexit: the response of corporate structures to geopolitical uncertainty” Elisa Faraglia (University of Cambridge, CEPR)
15:15-15:25	Discussant: Gabriel Smagghue (PSE)
15:25-15:30	Q & A
15:30-16:00	Coffee Break
16:00-17:30	Session 4: Fragmentation and Trade
16:00-16:30	“Trade policies, export costs and firm dynamics” Ida Hjortsø (King’s College London, CEPR)
16:30-16:40	Discussant: Banu Demir-Pakel (University of Oxford, CEPR)
16:40-16:45	Q & A
16:45-17:15	“Demystifying trade patterns in a fragmenting world” Xin Weining (IMF)
17:15-17:25	Discussant: Vincent Vicard (CEPII)
17:25-17:30	Q & A
17:30	End of the Workshop + Drinks
19:30	Dinner (by invitation) Banque de France

Organisers:
Alessandro Franconi (Banque de France)
Charles Serfaty (Banque de France)

The Role of Protectionism and Fragmentation in Macroeconomics... (PDF - 183.95 KB)

The Role of Protectionism and Fragmentation in Macroeconomics

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