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Date: 23 - 24 July 2007
Venue: European Central Bank, Frankfurt
Please note that the conference is by invitation only.
Description:
The European Central Bank (DG-E and DG-R) will be holding a conference on “Globalisation and the Macroeconomy” in Frankfurt on 23-24 July 2007. The Conference will bring together researchers from Central Banks, the academic community and international organisations in a 2-day meeting to present papers and discuss globalisation and its impacts on economic activity and inflation.
The main objectives of the Conference are to improve our understanding of the pace and changing characteristics of globalisation in order to more accurately identify the various channels through which globalisation affects the macroeconomy.
In particular, the Conference aims to improve our understanding and measurement of globalisation, to quantify the effects of globalisation on activity and inflation, and to assess how globalisation may be changing the transmission of shocks to the economy. A concluding panel discussion will address the implications of globalisation from a policy perspective.
Contact: Email
Preliminary Programme:| 08:30 - 09:00 | Coffee and registration |
| 09:00 - 09:30 | Welcome address Jürgen Stark (European Central Bank), pdf 66.2 kB, en |
| Session I: | Globalisation of production and new trade paradigms Chair: Lucrezia Reichlin (European Central Bank) |
| 09:30 - 10:30 | Quality, Trade and the Moving Window: The Globalization Process John Sutton * (London School of Economics) Paper, pdf 305 kB, en, Presentation, pdf 135 kB, en Discussant: Eckhard Janeba (University of Mannheim), pdf 103 kB, en |
| 10:30 - 11:00 | Coffee Break |
| 11:00 - 12:00 | Deeper, Wider and More Competitive? Monetary Integration, Eastern
Enlargement and Competitiveness in the European Union Gianmarco Ottaviano * (University of Bologna), D. Taglioni and F. di Mauro Paper, pdf 280 kB, en, Presentation, pdf 461 kB, en Discussant: Jonathan Eaton (New York University), pdf 274 kB, en |
| 12:00 - 13:00 | Trade and Foreign Direct Investment in Business Services: a Modelling Approach James Markusen * (University of Colorado) Paper, pdf 67.1 kB, en, Presentation, pdf 30.2 kB, en Discussant: Holger Görg (The University of Nottingham), pdf 300 kB, en |
| 13:00 - 14:00 | Lunch |
| Session II: | Globalisation, trade and exchange rates Chair: Filippo di Mauro (European Central Bank) |
| 14:00 - 15:00 | Outsourcing and Volatility Paul Bergin * (University of California, Davis), R. Feenstra and G. Hanson Paper, pdf 184 kB, en, Presentation, pdf 158 kB, en Discussant: Philippe Martin (University Paris 1, Panthéon Sorbonne Economie and Paris School of Economics), pdf 38 kB, en |
| 15:00 - 16:00 | Trade Integration, Competition and the Decline in the Exchange Rate Pass-through Sylvain Leduc * (Federal Reserve Board), C. Gust and R. Vigfusson Paper, pdf 370 kB, en, Presentation, pdf 569 kB, en Discussant: Tommaso Monacelli (University of Bocconi), pdf 186 kB, en |
| 16:00 - 16:30 | Coffee Break |
| 16:30 - 17:30 | Does the exchange rate belong in monetary policy rules? Conventional answers versus solutions from a monetary business cycle model with endogenous tradability Douglas Laxton * (International Monetary Fund), M. Kumhof and K. Naknoi Paper, pdf 336 kB, en, Presentation, pdf 166 kB, en Discussant: Roland Straub (European Central Bank), pdf 176 kB, en |
| Evening | Dinner Keynote Speaker: Jean-Claude Trichet (European Central Bank) |
| 09:00 - 10:00 | Invited Speaker: John Taylor (Stanford University) “Monetary Policy in a Global Economy” Presentation, pdf 310 kB, en |
| Session III: | Macroeconomic impacts of globalisation Chair: Hans-Joachim Klöckers (European Central Bank) |
| 10:00 - 11:00 | The Dynamics of Trade and Competition Jean Imbs * (Université de Lausanne), N. Chen, A. Scott Paper, pdf 556 kB, en, Presentation, pdf 310 kB, en Discussant: Laurence Ball (John Hopkins University), pdf 35.3 kB, en |
| 11:00 - 11:30 | Coffee Break |
| 11:30 - 12:30 | Globalisation and inflation in the OECD economies Isabell Koske * (OECD), N. Pain and M. Sollie Paper, pdf 642 kB, en, Presentation, pdf 232 kB, en Discussant: Olivier de Bandt (Banque De France), pdf 105 kB, en |
| 12:30 - 13:30 | The impact of rising imports from low-cost countries on Euro Area prices and labour markets – some preliminary findings Gabor Pula * and Frauke Skudelny * (European Central Bank) Paper, pdf 401 kB, en, Presentation, pdf 197 kB, en Discussant: Ernest Gnan (Bank of Austria), pdf 194 kB, en |
| 13:30 - 14:30 | Lunch |
| 14:30 - 15:00 | Globalisation and the Macroeconomy: A presentation of stylised facts for the euro area Bob Anderton and Geoff Kenny (European Central Bank) |
| 15:00 - 16:30 | Policy panel Chair: Lucas Papademos (European Central Bank) Panel members: Frederic Mishkin (Federal Reserve Board) Anthony Venables (University of Oxford) Marco Buti (European Commission) |
