ECB Annual Research Conference 2026
Geoeconomics and the International Trading System
16 and 17 September 2026
Frankfurt am Main
The rules-based multilateral international trading system is under strain. Great-power competition, security concerns, and the deliberate use of geoeconomic dependencies for strategic ends point towards a fundamental shift in the relationship between economics and geopolitics. This year's Annual Research Conference wants to contribute to a better understanding of the underlying dynamics by showcasing the latest academic research and by providing a forum for researchers and policymakers to exchange ideas and discuss Europe's options in this new global environment.
Programme
All times are local (CET)
* indicates the presenter
- 8:30
-
Registration
- 9:15
-
Welcome address
Luc Laeven, Director General Research, European Central Bank
-
Session 1
Geopolitics and GlobalisationChair: Luc Laeven, Director General Research, European Central Bank
- 9:30
-
A Network Approach to Geopolitics
- Ernest Liu, Princeton University
- Stephen Redding*, Stanford University
- Bennett Smith-Worthington, Princeton University
- David Yang, Harvard University
Discussant: Isabelle Mejean, Sciences Po
- 10:30
-
Coffee break
- 11:00
-
Hegemonic Globalisation
- Fernando Broner, Centre de Recerca en Economia Internacional
- Alberto Martin*, Centre de Recerca en Economia Internacional
- Josefin Meyer, Deutsches Institut für Wirtschaftsforschung Berlin
- Christoph Trebesch, Kiel Institute for the World Economy
Discussant: Dmitry Mukhin, London School of Economics
- 12:00
-
Lunch break
- 14:15
-
Policy panel
Geoeconomics and Trade: Risks, Resilience and Policy ResponsesChair: Boris Vujčić, Vice-President, European Central Bank
Panellists:
- Beatrice Weder di Mauro, Geneva Graduate Institute
- Kevin O'Rourke, Sciences Po
- Andres Velasco, London School of Economics
- 15:45
-
Coffee break
-
Session 2
Critical Dependencies, Industrial Policy, and Geoeconomic PowerChair: Christophe Kamps, Director General International and European Relations, European Central Bank
- 16:00
-
International Power
- David Yang*, Harvard University
- Ernest Liu, Princeton University
Discussant: Massimo Morelli, Bocconi University
- 17:00
-
Coffee break
- 17:15
-
Trade and Industrial Policy in Supply Chains: Directed Technological Change in Rare Earths
- Laura Alfaro*, Inter-American Development Bank
- Harald Fadinger, University of Vienna
- Jan Schymik, University of Mannheim
- Gede Virananda, New York University Stern School of Business
Discussant: Kalina Manova, University College London
- 18:15
-
End of first conference day
- 18:45
-
Dinner – by invitation only
- 8:30
-
Registration
- 9:00
-
Jean Monnet lecture
Paul Krugman, City University of New York
Chair: Philip R. Lane, Member of the Executive Board, European Central Bank
- 10:15
-
Coffee break
-
Session 3
The Welfare Effects of Sanctions and TariffsChair: Isabel Vansteenkiste, Principal Counsellor, European Central Bank
- 10:45
-
Evading Sanctions
- Lisa Scheckenhofer, ifo Institute
- Feodora A. Teti*, ifo Institute
- David Torun, University of Zürich
- Joschka Wanner, University of Würzburg
Discussant: Christoph Trebesch, Kiel Institute for the World Economy
- 11:45
-
Coffee break
- 12:00
-
A World Trading System for Whom? Evidence from Global Tariffs
- Rodrigo Adão, University of Chicago Booth School of Business
- John Sturm Becko, Princeton University
- Arnaud Costinot*, Massachusetts Institute of Technology
- Dave Donaldson, Massachusetts Institute of Technology
Discussant: Meredith Crowley, University of Cambridge
- 13:00
-
Farewell
- 13:10
-
End of conference
- 13:00
-
Lunch – by invitation only
This programme may be subject to change without notice.
Audiovisual notice: A photographer will be present at the event taking photographs for our internet / intranet webpage. If you prefer not to have your photograph taken, please approach the photographer directly. The event may be filmed and the video recording, or parts of it, may be published on the internet / intranet.
General information
European Central Bank
Main Building, C2.02
Sonnemannstrasse 20
60314 Frankfurt am Main
Germany
English
Participants are requested to arrange their own transfers, unless indicated otherwise.
Luca Dedola, Alistair Dieppe, Justyna Ferstl, Georgios Georgiadis, Luc Laeven, Georg Strasser, Isabel Vansteenkiste (all European Central Bank)
Justyna Ferstl
ARConference@ecb.europa.eu