Call for papers
ECB conference: Debt overhang, macroeconomic adjustment and EMU economic governance: challenges ahead for the euro area
Frankfurt am Main, Germany, 19-20 November 2015
Submission deadline for papers: 31 July 2015
The European Central Bank (ECB) is holding a conference entitled “Debt overhang, macroeconomic adjustment and EMU economic governance: challenges ahead for the euro area” in Frankfurt am Main on 19-20 November 2015. The conference will be accompanied by policy discussions focused on how to strengthen economic governance in the EMU in order to enable it to face current and future challenges.
Topics
From the very start of the crisis, the adjustment of macroeconomic and fiscal imbalances gradually set in. While current account balance, credit growth and other “flow” variables are showing signs of correction, imbalances identified by stock variables (such as private, public and external debt) remain high in several euro area countries, partly as a result of an insufficient number of reforms having been implemented.
This conference aims to provide a forum for discussing innovative research and facilitate an exchange of ideas about the sustainability of adjustment and the risks and implications of adjustment policies.
Topics that are of particular relevance to the conference include:
- The role of debt and leverage in macroeconomic dynamics, determinants of public and private debt sustainability, and the implications of simultaneous public and private deleveraging.
- The sustainability of adjustments.
- Early warning systems used to detect macroeconomic and fiscal imbalances (building on the current governance framework).
- The interaction between deleveraging and competitiveness adjustment.
- The impact of the crisis on long-term growth and the role played by fiscal policy and structural reforms.
- The political economy of structural reforms.
The scope of the conference can, however, be considered to be wider than the themes listed above, and submissions on other promising topics are also encouraged.
Emmanuel Fahri (Harvard University) and Philippe Lane (Trinity College Dublin) have already confirmed their participation.
Submissions
To submit a paper, please e-mail DGE-DGI-conference-2015@ecb.europa.eu by 31 July 2015, attaching the paper in PDF format. Authors of accepted papers will be notified by 31 August 2015.
Expenses
The travel and accommodation expenses of invited presenters and panel discussants will be covered by the ECB.
Conference organisers
Giovanni Callegari, Demosthenes Ioannou, Michele Lenza and David Sondermann (all European Central Bank).