Launch of the AXA Chair on Household Finance and Insurance at the Einaudi Institute for Economics and Finance (EIEF) and debate on: Is there a role for philanthropy in funding research?
With the participation of:
Ignazio VISCO, Governor, Banca d’Italia
Frédéric de COURTOIS, CEO, AXA MPS
Luigi GUISO, AXA Chair on Household Finance and Insurance, EIEF
Marco PAGANO, President, EIEF
Ezra Suleiman, President of the Scientific Board, AXA Research Fund
Godefroy BEAUVALLET, Head of the AXA Research Fund
Edward C. PRESCOTT, 2004 Nobel Prize in Economics, Arizona State University
Flavio VALERI, CEO, Deutsche Bank Italy; Luigi ZINGALES, University of Chicago
In 2008 the AXA Group set up the AXA Resarch Fund, with the mission of encouraging top-level research on global risks by funding research projects and institutions in Europe and worldwide. The AXA Research Fund has so far granted, through a competitive and meritocratic process, approximately e 3,5 m to Italian excellences, contributing to the creation of two chairs and funding some post-doctoral fellowships. One of the chairs has been created at the Einaudi Institute for Economics and Finance (EIEF, www.eief.it), an independent research institute founded in 2008 by Banca d’Italia with the aim of producing research in the fields of economic and finance at the highest international levels. EIEF offers a research environment that, by adopting the standards of the best international academia, attracts both Italian talents currently abroad and high-profile foreign scholars, thus helping to slow down or even reverse the brain drain hindering Italy. The support by AXA Research Fund to the creation of the AXA Chair on Household Finance and Insurance represents a sign of recognition for EIEF and for its ambitious project. The research conducted under the Chair will contribute to stimulate and advance the public debate on important topics, from the role of financial education to that of regulation of intermediaries offering financial services to households. The funding of the Chair by the AXA Research Fund is just one among the many possible ways in which private organizations can take responsibility for the production of research, intended as a public good. Research is a key driver for the future of a country, to secure long-term growth and to improve the quality of life. The current predicament of public finances makes it however imperative to find new and innovative ways of financing research, harnessing the inventiveness, the generosity and the corporate responsibility of the private sector, similarly to what happens successfully
in other countries. The launch of the chair provides an excellent opportunity to discuss these topics.