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FRDB Fondazione Rodolfo Debenedetti

Structural Reforms without Prejudices

fRDB-CEPR-IMF Joint Conference

12 March 2009

Università Bocconi
Via Roentgen 1, Milan
Room AS02 (floor -2)


Organisers: Tito Boeri (fRDB and CEPR), Francesco Caselli (LSE and CEPR), Antonio Spilimbergo (IMF and CEPR).

The conference, sponsored by the CEPR, fRDB, IMF, aims to provide a forum for discussing theoretical and empirical research on the causes and consequences of structural reforms. The conference is intended to discuss innovative research on the impact of structural reforms on economic  performance and to facilitate the exchange of views among researchers and policymakers.

Contributions will shed light on aspects of how such reforms operate in practice, how they interact with each other as well as with macroeconomic policies and political institutions. The conference aims to advance our understanding of these issues, especially in relation to the following topics:

  • New datasets for measuring financial, labour, product, trade, and public sector reforms;

  • Political institutions and structural reforms;

  • Impact of structural reforms on economic growth and welfare;

  • Timing and sequencing of structural reforms;

  • Interactions between structural reforms and macroeconomic policies.

 Partecipation is open to the public, but please register by writing to

For further information on the workshop, please contact: 
- United Kingdom: Anggreini Kasanan, CEPR Meetings Assistant at or +44 20 7183 8807
- Italy: Roberta Marcaletti (fRDB) at or +39 025836 3342.




Session format: 45 minutes per paper, with 30 minutes presentation by the author, 15 minutes for the discussant.


09.00-09.45:  The Euro and Structural Reforms
                      Alberto Alesina (Harvard University and CEPR)
                      Silvia Ardagna (Harvard University)
                      * Vincenzo Galasso (IGIER, Università Bocconi, Milan and CEPR)

Discussant: Antonio Spilimbergo (International Monetary Fund and CEPR)

09.45-10.30:  Who Benefits from Capital Account Liberalization? Evidence from Firm-Level Credit Ratings Data
                      Alessandro Prati (International Monetary Fund)
                      * Martin Schindler (International Monetary Fund)
                      Patricio Valenzuela (European University Institute)

Discussant: Riccardo Rovelli (University of Bologna)


10.30-11.00: Coffee break


11.00-11.45:  A Tale of Two Reversals: An Analysis of the Relationship between Financial Reform and Political Liberalization
                      Nauro F. Campos (Brunel University, CEPR, IZA and WDI)
                      * Fabrizio Coricelli (European Bank for Reconstruction and Development, University of Siena and CEPR)

Discussant: Enrica Detragiache (International Monetary Fund)

11.45-12.30:  Where Does Regulation Hurt? Evidence from New Businesses Across Countries
                      * Silvia Ardagna (Harvard University)
                      Annamaria Lusardi (Dartmouth College)

Discussant: Giuseppe Bertola (Università degli studi di Torino and CEPR)


12.30-14.00: Lunch


14.00-14.45:  Regulation, Allocative Efficiency and Productivity in OECD Countries - Industry and Firm-Level Evidence
                     Jens Arnold (OECD)
                     * Stefano Scarpetta (OECD and World Bank)
                     Giuseppe Nicoletti (OECD)

Discussant: Filippo Taddei (Collegio Carlo Alberto, Turin)

14.45-15.30:  Dynamics in Chilean Unemployment
                      Gonzalo Reyes Hartley (Superintendencia de Pensiones, Santiago, Chile) 
                      *Jan C van Ours (CentER, Tilburg University and CEPR)
                      Milan Vodopivec (World Bank)

Discussant: Fabiano Schivardi (University of Cagliari)


15.30-16.00:  Coffee break


16.00-16.45:  Reforms, Finance, and Current Accounts
                      *Giuseppe Bertola (University of Turin and CEPR)
                      Anna Lo Prete (University of Turin)

Discussant: Francesco Caselli (London School of Economics and CEPR)

16.45-17.30:  Transition Fatigue? Cross-Country Evidence from Micro Data
                      *Riccardo Rovelli (University of Bologna)
                      Anzelika Zaiceva (IZA, University of Bologna and DARRT)

Discussant: Tito Boeri (IGIER-Università Bocconi, Milan and Fondazione Rodolfo Debenedetti, Milan and CEPR)


17.30 – 19.00: Final Panel - Structural Reforms during Bad Times
                        Enrica Detragiache (International Monetary Fund)
                        Gert Jan Koopman (Director Economic Service and Structural Reforms, European Commission)   
                        Jean Pisani-Ferry (Director Bruegel) 
                        Domenico Siniscalco (Vice Chairman Morgan Stanley Europe)
Chairman: Wolfgang Munchau (Financial Times)


19.00: Dinner


* Indicates the presenter