Bank of Italy co-hosts applied macroeconomics conference focused on global shocks and policy responses

The Bank of Italy jointly organized its second conference on applied macroeconomics with the Bank of Canada and the Centre for Applied Macroeconomics and Commodity Prices at BI Norwegian Business School. The event brought together researchers from academia, central banks and international institutions to examine how geopolitical tensions, commodity markets, fiscal and monetary policy, international finance and technological change are reshaping the global economy. Bank of Italy Deputy Governor Chiara Scotti emphasized the role of applied macroeconomic research in assessing global shocks, understanding structural change and updating analytical tools for policymaking. Keynote lectures examined how oil shocks affect household inflation expectations and how sanctions influence oil markets and international trade, while research sessions addressed defense spending, tariffs, monetary policy transmission, financial spillovers and the distributional effects of commodity shocks.