Stabilization Policy Amid Shifting Global Relations

Published on 18th of September 2025

The Banque de France (BdF) and the European University Institute (EUI) are organizing their yearly joint conference that will take place in Paris on November 28, 2025.

The conference will have Federica Romei (University of Oxford and CEPR) as a keynote speaker. It will cover a variety of themes related to the new directions in academic research and their policy implications. These topics include (but are not limited to):

The Impact of Tariffs on Global Trade and Growth
Monetary Policy in a Fragmenting Global Economy
The Future of US Dollar Dominance: Challenges and Opportunities
Geopolitical Risks and Their Impact on International Finance
Challenges for Emerging Markets under shifting international dynamics
Macroeconomic dimensions of economic security
Fiscal imbalances and global inflation

The event is hosted by the Banque de France, and co-sponsored by the Pierre Werner Chair at the EUI and the Banque de France.

Program

8:45 – 9:15	Registration and Coffee
9.15 – 10.00	Geopolitics and global interlinking of fast payment systems, Massimo Ferrari Minesso (European Central Bank) Discussant: Elia Moracci (Banca d’Italia)
10:00 – 10.45	Sanctions and Currencies in Global Credit, Roger Vicquery (Centre for Macroeconomics) Discussant: Konstantin Egorov (University of Antwerp)
10.45 – 11.05	Coffee Break
11.05 – 11.50	Tariffs and Monetary Policy: New Evidence, Alessandro Franconi (Banque de France) Discussant: Anna Rogantini Picco (European Central Bank)
11.50 – 12.34	Trade Fragmentation, Inflationary Pressures and Monetary Policy, Ludovica Ambrosino (London Business School) Discussant: Simon Lloyd (Bank of England)
12:35 – 13:55	Lunch
13:55 – 14:40	Optimal Monetary Policy, Tariff Shocks and Exporter Dynamics, Francesco Pappada (University of Venice, Paris School of Economics) Discussant: Chengzi Yi (European University Institute
14.40 – 15.25	Exchange Rate Stabilization and Monetary Transmission, Paul Fontanier (Yale University) Discussant: Kenza Benhima (HEC Lausanne)
15.25 – 15.45	Coffee break
15.45 – 16.30	The United States as the International Lender of Last Resort, by Diego Bohórquez (Banca d’Italia) Discussant: Andrea Ferrero (University of Oxford)
16.30 – 17.30	Keynote speech by Federica Romei (University of Oxford

Organisers:
Nuno Coimbra (Banque de France)
Giancarlo Corsetti (Pierre Werner Chair, European University Institute)
Giulia Sestieri (Banque de France)

The event is hosted by the European University Institute, and co-sponsored by the Banque de France and the Pierre Werner Chair at the EUI.

Stabilization Policy Amid Shifting Global Relations... (PDF - 205.38 KB)