Transformational Recovery: Seizing Opportunities from the Crisis

Rabat, Morocco

June 23-24, 2022

The Bank Al-Maghrib, the International Monetary Fund, and the IMF Economic Review have organized a joint conference on “Transformational Recovery: Seizing Opportunities from the Crisis” to be held in Rabat, Morocco on June 23-24, 2022The COVID-19 crisis left emerging and developing countries dealing with medium- and long-term challenges, which have been aggravated by the immediate effects of the war in Ukraine.Emerging and developing countries face the need to deal with immediate challenges, while not undermining long-term development goals. However, they also have an opportunity to “bounce back better” by investing in new policies to cope with future crises and tackle the key development challenges of our times. Against this backdrop, the conference features an outstanding set of academic and policy sessions on issues related to the post-pandemic growth. All timings below are in local time.

Click here to download the call for papers.

*Indicates sessions that will be livestreamed on this page.

Thursday, June 23, 2022

8:00-8:30 am


8:30-9:00 am

Opening Remarks*

Abdellatif Jouahri (Governor, Bank Al-Maghrib)

Gita Gopinath (First Deputy Managing Director, IMF)

Jihad Azour (Director of the Middle East and Central Asia Department, IMF)

9:00-9:05 am  Short video presentation: Open Morocco*
9:05-10:15 am 

Keynote address: Work and Well-being after the Crisis*

Christopher Pissarides (London School of Economics)

Moderator: Pierre-Olivier Gourinchas (Economic Counsellor and Director, Research Department, IMF)

10:15-10:30 am  Coffee break
10:30 am - 12:15 pm

Session 1: Climate Change

Chair: Prachi Mishra (IMF)


Projecting the Impacts of Temperature Change: The Role of Macroeconomic Dynamics | Paper

Gregory Casey (Williams College), Stephie Fried (Federal Reserve Bank of San Francisco), and Ethan Goode (Federal Reserve Bank of San Francisco)

Discussant: Felix Kubler (University of Zurich)


Asset Overhang and Technological Change

Hans Degryse (KU Leuven), Tarik Roukny (KU Leuven), and Joris Tielens (National Bank of Belgium)

Discussant: Fabrizio Core (Erasmus University Rotterdam)

12:15-1:15 pm

Lunch break

1:15-3:00 pm

Session 2: Structural Change

Chair: Halim Jadi (Bank Al-Maghrib)


AI, Firms, and Wages: Evidence from India  | Paper

Alexander Copestake (IMF), Ashley Pople (University of Oxford), and Katherine Stapleton (World Bank)

Discussant: Paolo Falco (University of Copenhagen)


Trade Integration, Industry Reallocation, and Welfare in Colombia  | Paper

George Alessandria (University of Rochester) and Oscar Avila-Montealegre (Central Bank of Colombia)

Discussant: Simon Galle (BI Norwegian Business School)

3:00-3:15 pm

Coffee break

3:15-5:00 pm

Session 3: Public Finance

Chair: Achour Aya (Bank Al-Maghrib)


Time Series in Tax Performance | Paper

Anders Jensen (Harvard University)

Discussant: İrem Güçeri (University of Oxford)


Cross-Sectional Facts for International Macroeconomists | Paper

Sergio de Ferra (University of Oxford)

Discussant: Fernando Broner (CREI)

5:00-5:15 pm

Coffee break

5:15-6:30 pm

Panel Session: Gender, Inequality, and Inclusive Growth*

Moderator: Jihad Azour (IMF)

Roberta Gatti (World Bank), Rabéa Naciri (Association Démocratique des Femmes du Maroc), Ratna Sahay (IMF)

Friday, June 24, 2022

8:30-10:15 am

Session 4: Development

Chair: Najat El Mekkaoui (Paris Dauphine University and Member of the Board of Bank Al-Maghrib)


Roads, Competition, and the Informal Sector | Paper

Elena Perra (University of Trento), Marco Sanfilippo (University of Turin), and Asha Sundaram (University of Auckland)

Discussant: Antonio Spilimbergo (IMF)


Calculating the Costs and Benefits of Advance Preparations for the Next Pandemic | Paper

Rachel Glennerster (University of Chicago), Christopher Snyder (Dartmouth College), and Brandon Tan (IMF)

Discussant: Rui Mano (IMF)

10:15-10:30 am

Coffee break

10:30 am - 12:15 pm

Session 5: Finance

Chair: Abdessamd Saidi (Bank Al-Maghrib)


The Unholy Trinity: Regulatory Forbearance, Government-Owned Banks, and Zombie Firms | Paper

Anusha Chari (University of North Carolina at Chapel Hill), Lakshita Jain (University of North Carolina at Chapel Hill), Nirupama Kulkarni (CAFRAL, Reserve Bank of India)

Discussant: Ryan Banerjee (Bank for International Settlements)


Fintech Entry, Firm Financial Inclusion, and Macroeconomic Dynamics in Emerging Economies | Paper

Alan Finkelstein Shapiro (Tufts University), Federico S. Mandelman (Federal Reserve Bank of Atlanta), and Victoria Nuguer (Inter-American Development Bank)

Discussant: Harald Hau (University of Geneva)

12:15-1:15 pm

Lunch break

2:15-3:30 pm

Panel Discussion: The Economic Effects of the War and of Sanctions*

Moderator: Pierre-Olivier Gourinchas (IMF)

Rabah Arezki (Harvard Kennedy School) and Elina Ribakova (Institute of International Finance)

3:30-3:45 pm

Coffee break

3:45-5:30 pm

Session 6: Labor

Chair: Jawad El Othmani (Bank Al-Maghrib)

Worker Mobility and Domestic Production Networks | Paper

Marvin Cardoza (Dominican Republic Tax Authority), Francesco Grigoli (IMF), Nicola Pierri (IMF), and Cian Ruane (IMF)

Discussant: Luca Mazzone (IMF)


Jobless and Stuck: Youth Unemployment and COVID-19 in India | Paper

Swati Dhingra (London School of Economics) and Fjolla Kondirolli (University of Sussex)

Discussant: Semih Tumen (TED University)

Organizing Committee: Kenza Benhima (HEC-Lausanne and Guest Editor, IMF Economic Review), Emine Boz (IMF and Co-Editor, IMF Economic Review), Kerem Cosar (University of Virginia and Guest Editor, IMF Economic Review), Andrei Levchenko (University of Michigan and Editor, IMF Economic Review) Prachi Mishra (IMF and Co-Editor, IMF Economic Review), Andrea Presbitero (IMF and Associate Editor, IMF Economic Review), Abdessamad Saidi (Bank Al-Maghrib), Mohamed Taamouti (Bank Al-Maghrib)

IMF Conference Coordinator: Tracey Lookadoo