Past Event

An alpine divide? Comparing economic cultures in Germany and Italy

A discussion of Italian and German macro-economic cultures and performances.

Date: April 13, 2021, 1:00 pm Topic: European Macroeconomics & Governance

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Bruegel · An alpine divide? Comparing economic cultures in Germany and Italy

At this event we presented “The Value of Money. Controversial Economic Cultures in Europe: Italy and Germany” (published by Villa Vigoni) and had a discussion on Italian and German macro-economic cultures and performances.

When the Bretton Woods system collapsed in the early 1970s, Italy and Germany embarked on radically different monetary policies. The result was an increase in the value of the D-Mark from 170 Italian lira under Bretton Woods to 990 lira at the start of European Monetary Union. What was behind this development and did it reflect a fundamental alpine divide between Germany and Italy in the conduct of macro-economic policy? Has this divide persisted in EMU and, if so, does it threaten EMU, or is it receding?

What does the interaction between Italian and German economic cultures tell us about dynamics within the ECB? And what do these dynamics tell us about actions during, say, the financial crisis?

Schedule

Apr 13, 2021

13:00-13:30

Kick-off remarks

Chair: André Sapir, Senior Fellow

Patricia Mosser, Director, MPA Program in Economic Policy Management, Columbia University

Hiroshi Nakaso, Chairman, Daiwa Institute of Research

Marianne Nessén, Senior Advisor to the Executive Board, Sveriges Riksbank

Jean-Claude Trichet, Honorary Chairman of Bruegel

13:30-14:15

Conversation and Q&A

Chair: André Sapir, Senior Fellow

Thomas Mayer, Founding Director, Flossbach von Storch Research Institute

Patricia Mosser, Director, MPA Program in Economic Policy Management, Columbia University

Hiroshi Nakaso, Chairman, Daiwa Institute of Research

Marianne Nessén, Senior Advisor to the Executive Board, Sveriges Riksbank

Francesco Papadia, Senior Fellow

Jean-Claude Trichet, Honorary Chairman of Bruegel

Speakers

Thomas Mayer

Founding Director, Flossbach von Storch Research Institute

Patricia Mosser

Director, MPA Program in Economic Policy Management, Columbia University

Marianne Nessén

Senior Advisor to the Executive Board, Sveriges Riksbank

Hiroshi Nakaso

Chairman, Daiwa Institute of Research

Francesco Papadia

Senior Fellow

André Sapir

Senior Fellow

Jean-Claude Trichet

Honorary Chairman of Bruegel

Location & Contact

Katja Knezevic

[email protected]

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