European Central Bank conference
Frankfurt am Main, 2-3 December 2010
| Conference dates | Thursday, 2 December and Friday, 3 December 2010 |
| Conference venue | European Central Bank Eurotower Kaisertrasse 29 60311 Frankfurt am Main Germany Conference Room CVII, 2nd floor Tel.: +49 69 1344 0 Fax: +49 69 1344 6000 Email: info@ecb.europa.eu |
| Dinner venue | Thursday, 2 December 2010, 7.30 p.m. Restaurant "Emma Metzler" Schaumainkai 17 (Park of museum for applied art) 60329 Frankfurt am Main Tel.: +49 69 6199 5906 |
| Conference language | English |
| Programme | The conference is by invitation only and is closed to the press. |
| Contact | Directorate General Economics Monetary Policy Strategy Division Helen James Tel.: +49 (0) 69 1344 6569 Fax: +49 (0) 69 1344 7604 E-mail: helen.james@ecb.europa.eu Directorate Communications Publishing, Events and Protocol Division Nia Sheppard Tel.: +49 (0)69 1344 8575 Fax: +49 (0)69 1344 5775 E-mail: nia.sheppard@ecb.europa.eu |
| Organising committee | Jacopo Cimadomo, Bartosz Maćkowiak, Ad van Riet, Leopold von Thadden,Oreste Tristani, and Jean-PierreVidal. |
Thursday,2 December
| 8.40a.m. - 9.10a.m. | Registration |
| 9.10a.m. – 9.15a.m. | Welcome address Philippe Moutot, Deputy Director General Economics, European Central Bank |
| Morning session Chair: Philippe Moutot, European Central Bank |
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| 9.15a.m. - 10.15a.m. | Paper 1: Fiscal and monetary policy interactions Chris Sims (Presenter), Princeton University presentation Discussant: Seppo Honkapohja, Suomen Pankki – Finlands Bank presentation |
| 10.15 a.m. - 11.15 a.m. | Paper 2: Fiscal policy in an expectations-driven liquidity trap paper Karel Mertens (Presenter), Cornell University, with Morten Ravn, University College London presentation Discussant: Gauti Eggertsson, Federal Reserve Bank of New York |
| 11.15 a.m. - 11.45 a.m. | Coffee break |
| Paper 3:Non-standard monetary policy measures, monetary financing and the price level: exploring the nexus Huw Pill (Presenter), European Central Bank, with Alain Durré, European Central Bank presentation Discussant:Andrew Levin, Board of Governors of the Federal Reserve System presentation |
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| 12.45 p.m. - 2 p.m. | Lunch (foyer CVII) Afternoon session Chair: Pablo Hernandez de Cos, Banco de España, Chairman of the Working Group on Public Finance of the European System of Central Banks |
| 2 p.m. - 3 p.m. | Paper 4: Stabilization versus Sustainability: Macroeconomic Policy Tradeoffs paper Eric Leeper (Presenter), Indiana University, with Huixin Bi, Bank of Canada and Campbell Leith, University of Glasgow presentation Discussant: Russell Cooper, European University Institute, Florence presentation |
| 3 p.m. - 4 p.m. | Paper 5:The Great Escape? A quantitative evaluation of the Fed’s non-standard policies paper Marco Del Negro (Presenter), Federal Reserve Bank of NewYork, with Gauti Eggertsson, Federal Reserve Bank of NewYork; Andrea Ferrero, Federal Reserve Bank of NewYork and Nobuhiro Kiyotaki, Princeton University presentation Discussant: Thomas Laubach, Goethe University, Frankfurt am Main presentation |
| 4 p.m. - 4.30 p.m. | Coffee break |
| 4.30 p.m. - 5.30 p.m. | Paper 6: Financial frictions, financial integration and the international propagation of shocks Giovanni Lombardo (Presenter), European Central Bank, with Luca Dedola, European Central Bank Discussant: Gianluca Benigno, London School of Economics presentation |
| 7.30 p.m. | Dinner at the Emma Metzler restaurant, Frankfurt am Main Dinner speech: Jürgen Stark, Member of the Executive Board, European Central Bank |
Friday, 3 December
| 8.30 a.m. - 9 a.m. | Registration Eurotower lobby |
| 9 a.m. - 9.15 a.m. | Opening remarks José Manuel González-Páramo, Member of the Executive Board, European Central Bank |
| Morning session Chair: KarstenWendorff, Head of Public Finance Division, Deutsche Bundesbank |
|
| 9.15 a.m. - 10.15 a.m. | Paper 7: Fiscal stimulus and distortionary taxation paper Harald Uhlig (Presenter), University of Chicago, with Thorsten Drautzburg, University of Chicago presentation Discussant: Roberto Perotti, Bocconi University presentation |
| 10.15 a.m. - 10.45 a.m. | Coffee break |
| 10.45 a.m. - 11.45 a.m. | Paper 8: Government debt and optimal monetary and fiscal policy paper Klaus Adam (Presenter), Mannheim University presentation Discussant:Andrew Scott, London Business School presentation |
| 11.45 a.m. - 1 p.m. | Lunch (foyer CIV) |
| Afternoon Session Chair: Frank Smets, Director General Research, European Central Bank |
|
| 1 p.m. - 2.30 p.m. | Policy models used by the European Commission and the ECB |
| Presentation 1: Fiscal stimulus and exit strategies in the EU: a model-based analysis paper Jan in ’t Veld (Presenter), European Commission, with Werner Roeger, European Commission presentation |
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| Presentation 2: Fiscal policy in the ECB’s New Area-Wide Model Mathias Trabandt (Presenter), European Central Bank, with Günter Coenen, European Central Bank; Markus Kirchner, University of Amsterdam and Roland Straub, European Central Bank presentation |
|
| 2.30 p.m. - 4 p.m. | Concluding panel: Lessons of recent events for macroeconomic research and for monetary and fiscal policy-making in the euro area Chair: Frank Smets, European Central Bank Panellists: Eric Leeper, Indiana University, Roberto Perotti, Bocconi University, Chris Sims, Princeton University and Harald Uhlig, University of Chicago presentation |
"Monetary and fiscal policy challenges in times of financial stress" Call for papers
Deadline for submission: 15 August 2010
Topics
The Directorate-General Economics and the Directorate-General Research of the ECB are organising a conference on "Monetary and fiscal policy challenges in times of financial stress" in Frankfurt am Main on 2-3 December 2010. The conference will bring together researchers from central banks, international institutions and academia to discuss the role of monetary and fiscal policy in times of financial crises.
The conference will provide a forum for presenting the latest advances in various empirical and theoretical issues. Possible topics include (but are not restricted to):
- The policy response to the financial crisis: design and effectiveness of monetary and fiscal policy measures
- Monetary and fiscal policy after the crisis: exit strategies
- Monetary and fiscal policy interactions at the lower bound on nominal interest rates
- Monetary and fiscal policy challenges specific to the euro area
- Macroeconomic responses to severe financial crises: lessons from past episodes
- Challenges in modelling monetary and fiscal policy: is there a need for a new paradigm?
Conference programme
downloadInvited speakers
Eric Leeper (Indiana University), Christopher Sims (Princeton University), and Harald Uhlig (University of Chicago) have confirmed their participation.
Submission of papers and deadlines
Complete manuscripts should be sent in PDF format to mpfp2010@ecb.europa.eu by 15 August 2010. Authors of accepted papers will be notified by early September 2010.
Expenses
Travel expenses of presenting authors and discussants will be reimbursed. Participants from central banks and other official institutions will be expected to cover their own expenses.
Organising Committee
Jacopo Cimadomo, Bartosz Maćkowiak, Leopold von Thadden, Oreste Tristani, Ad van Riet, and Jean-Pierre Vidal.