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Conference on "What effects is EMU having on the euro area and its member countries?"
Steigenberger Frankfurter Hof Hotel, Frankfurt am Main. 16-17 June 2005
The ECB is organising a conference to discuss the question: "What effects is EMU having on the euro area and its member countries?" in Frankfurt am Main on 16-17 June 2005.
The conference aims to bring together academics, researchers in central banks and policy-makers to discuss the existing empirical evidence on structural changes brought about, either directly or indirectly, by the introduction of the euro in five areas:
- Trade integration
- Business cycle synchronisation, economic specialisation and risk sharing
- Financial integration
- Structural reforms in product and labour markets
- Inflation persistence and inflation differentials
Organisers:
Francesco Paolo Mongelli (francesco.mongelli@ecb.int)
Juan Luis Vega (juan_luis.vega@ecb.int)
Programme:
Thursday, 16 June 2005
| 14:00 - 14:15 | Opening Statement by Lucas Papademos, Vice-President (ECB), en |
| 14:15 - 16:00 | Session I: Trade integration Chair: Peter Kenen (Princeton University) Leading paper: Richard Baldwin (Graduate Institute of International Studies, Geneva): pdf 1.2 MB, en Slides: pdf 236 kB, en Discussant 1: Jeffrey Frankel (University of Harvard): pdf 120 kB, en Slides: pdf 55 kB, en Discussant 2: Jacques Melitz (University of Strathclyde): pdf 110 kB, en General discussion |
| 16:00 - 16:15 | Coffee |
| 16:15 - 18:00 | Session II: Business cycles synchronisation, economic specialisation and risk sharing Chair: Michael Artis (Professorial Fellow, European University Institute) Leading paper: Lucrezia Reichlin (ECB): pdf 206 kB, en Discussant 1: Bent Sørensen (University of Houston): pdf 161 kB, en Discussant 2: Mary McCarthy (European Commission, Brussels): pdf 131 kB, en General discussion |
| 19:30 | Dinner - Dinner Speech by Otmar Issing, Member of the Executive Board (ECB), en |
Friday, 17 June 2005
| 9:00 - 10:45 | Session III : Financial integration Chair: Gertrude Tumpel-Gugerell, Member of the Executive Board (ECB), en Leading paper: Philipp Hartmann, Lorenzo Cappiello, Peter Hördahl, Arjan Kadareja, Simone Manganelli (ECB) Slides: pdf 849 kB, en Discussant 1: Xavier Vives (INSEAD and ICREA-UPF, France): pdf 91 kB, en Discussant 2: Bruno Gerard (Norwegian School of Management): pdf 121 kB, en General discussion |
| 10:45 - 11:00 | Coffee |
| 11:00 - 12:45 | Session IV: Structural reforms in product and labour markets Chair: Wolfgang Schill, Director General Economics (ECB) Leading paper: Jorgen Elmeskov, Romain Duval (OECD, Paris): pdf 189 kB, en Slides: pdf 137 kB, en Discussant 1: Steve Nickell (Bank of England Monetary Policy Committee and London School of Economics): pdf 24 kB, en Slides: pdf 146 kB, en Discussant 2: Juan Francisco Jimeno (Banco de España): pdf 167 kB, en General discussion |
| 12:45 - 14:15 | Lunch |
| 14:15 - 16:00 | Session V: Inflation persistence and inflation differentials Chair: José Manuel González-Páramo, Member of the Executive Board (ECB) Leading paper: Matteo Ciccarelli (ECB), Ignazio Angeloni (Italian Ministry of Economy and Finance), Luc Aucremanne (National Bank of Belgium): pdf 646 kB, en Discussant 1: William Dickens (Brooking Institution, Washington D.C.): pdf 203 kB, en Discussant 2: Tony Yates (Bank of England): pdf 94 kB, en General discussion |
| 16:00 - 16:15 | Coffee |
| 16:15 - 18:00 | Session VI: Panel discussion: Conditions for the proper functioning of EMU Chair: Otmar Issing, Member of the Executive Board (ECB) Issues paper by ECB conference organisers Panellists:Vitor Gaspar (Bank of Portugal) pdf 241 kB, en, Ronald McKinnon (Stanford University), Robert Mundell (Columbia University), Adam Posen (Institute for International Economics, Washington), Charles Wyplosz (The Graduate Institute of International Studies, Geneva) |
| 18:00 - 18:15 | Closing Remarks by Jean-Claude Trichet, President (ECB), en |