The Euro at ten: lessons and challenges
5th ECB Central Banking Conference
Frankfurt am Main, 13 - 14 November 2008
Please note that attendance is by invitation only.
The Fifth ECB Central Banking Conference brings together experts from central banks, academics, representatives of European and international institutions, as well as of the financial press, to reflect on the lessons and challenges of ten years of single currency. It features six sessions of discussions, among which a concluding high-level policy panel.
The first two sessions on the first day focus on “What has the EMU brought to consumers and the corporate sector”. The opening session of the second day discusses the “Challenges for monetary policy and financial stability from globalisation”. The fourth session debates on “The euro and enlargement: the challenges ahead”. The last session before the policy panel provides academic views on “optimal currency areas”.
The Conference ends with a discussion on “International interdependencies and monetary policy” - webcast live (see link on the right-hand side) - with the Chairman of the Federal Reserve Board of Governors, Ben Bernanke, the Governor of the Bank of Israel, Stanley Fischer, the Deputy Governor of The People’s Bank of China, Su Ning, the Governor of the Banco de México, Guillermo Ortiz and the President of the ECB, Jean-Claude Trichet.
Programme
| Opening address: 14:00 |
Lucas Papademos Vice-President, European Central Bank, en |
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| Session 1: 14:10 |
Economic and Monetary Union (EMU) after ten years: what has the EMU brought to consumers and the corporate sector? Prices and quantities Chair: Gertrude Tumpel-Gugerell (Executive Board Member, European Central Bank) Main Speaker: Charles Wyplosz (Professor, Graduate Institute of International Studies, Geneva) Francesco Paolo Mongelli (Senior Adviser, Directorate Monetary Policy, European Central Bank), download Discussants: Francesco Caselli (Professor, London School of Economics), download Vítor Manuel Ribeiro Constâncio (Governor, Banco de Portugal), download |
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| 15:30 | Coffee Break |
| Session 2: 16:00 - 17:30 |
Economic and Monetary Union (EMU) after ten years: what has the EMU brought to consumers and the corporate sector? The evolution and the role of financial markets
download Chair: José Manuel González-Páramo (Executive Board Member, European Central Bank) Speakers: Philip Lane (Professor, Trinity College Dublin) download Sebnem Kalemli-Ozcan (Associate Professor, University of Houston) Simone Manganelli (Principal Economist, Financial Research Division, European Central Bank) Elias Papaioannou (Assistant Professor, Dartmouth College) José Luis Peydró-Alcalde (Economist, Financial Research Division, European Central Bank), presentation download, paper download Discussants: Marco Pagano (Professor, University of Naples) download Axel A. Weber (President, Deutsche Bundesbank) download |
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| 19:00 | Shuttle service to dinner venue from the main entrance of the InterContinental |
| 19:30 | Reception and dinner Römer (City Hall) Dinner address: Jean-Claude Trichet (President, European Central Bank), en |
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| Session 3: 09:00 |
Challenges for monetary policy and financial stability from globalisation
download Chair: Lorenzo Bini Smaghi (Executive Board Member, European Central Bank) Main Speaker: Raghuram G. Rajan (Professor, University of Chicago Graduate School of Business) download Discussants: Stephen G. Cecchetti (Head of the Monetary and Economic Department, Bank for International Settlements) Seppo Honkapohja (Member of the Board, Suomen Pankki) download |
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| 10:20 | Coffee Break |
| Session 4: 10:40 |
Panel: the euro and the enlargement: challenges ahead Introduction: Francesco Giavazzi (Professor, Università Bocconi) Panellists: Erik Berglöf (Chief Economist, European Bank for Reconstruction and Development) download Vítor Gaspar (Head of Bureau of European Policy Advisers, European Commission) Athanasios Orphanides (Governor, Central Bank of Cyprus) András Simor (Governor, Magyar Nemzeti Bank) download |
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| Session 5: 12:00 |
Panel: optimal currency areas – an academic view Introduction: Wolfgang Schill (Director General Economics, European Central Bank) Panellists: Martin Feldstein (Professor, Harvard University) download Andrew Rose (Professor, University of California, Berkeley) download André Sapir (Professor, Université Libre de Bruxelles) download Jaume Ventura (Senior Researcher, CREI, Universitat Pompeu Fabra) download |
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| 13:15 | Lunch |
| Afternoon of Friday, 14 November 2008 – InterContinental Hotel |
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| Session 6: 14:30 |
Panel: International interdependencies and monetary policy – a policy maker’s view Introduction: Lucrezia Reichlin (Professor, London Business School) Panellists: Ben Bernanke (Chairman of the Board of Governors of the Federal Reserve System), download Stanley Fischer (Governor, Bank of Israel) Su Ning (Deputy Governor, The People's Bank of China) Guillermo Ortiz (Governor, Banco de México) Jean-Claude Trichet (President, European Central Bank), en |
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| Closing address 15:45 |
Jürgen Stark Executive Board Member, European Central Bank, en |
| 16:00 | End of conference |
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