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Fourth ECB biennial conference on fiscal policy and EMU governance

Thursday, 19 and Friday, 20 December 2019

Press Room, Main Building, European Central Bank, Frankfurt am Main

Fourth ECB biennial conference on fiscal policy and EMU governance

The fourth biennial ECB conference on “fiscal policy and EMU governance” brings together participants from academia, the central banking community, international organisations and financial market practitioners. This year’s conference will cover various aspects of fiscal policy and monetary and fiscal policy interactions in a monetary union. In addition, it will explore issues related to EMU governance and the reform of EMU architecture.

Programme

Thursday, 19 December 2019

8:30
Registration and coffee
9:00

Opening remarks

Frank Smets, European Central Bank

 

Session 1: Fiscal policy, prices and labour mobility in currency unions

Chair: Frank Smets, European Central Bank

9:15

Fiscal policy, inflation and trade linkages

Luisa Lambertini, École Polytechnique Fédérale de Lausanne

Discussant: Benjamin Born, Frankfurt School of Finance and Management

10:00

Quantifying the benefits of labour mobility in a currency union

Linda Tesar, University of Michigan

Discussant: Martin Seneca, Bank of England

10:45
Coffee break
11:15

Keynote speech: Revisiting the EU fiscal framework in an era of low interest rates

Olivier Blanchard, Peterson Institute for International Economics

12:15
Buffet lunch
 

Session 2: Long-term public finances and fiscal sustainability

Chair: Luc Laeven, European Central Bank

13:30

Public pension reforms and fiscal foresight: narrative evidence and aggregate implications

Huixin Bi, Federal Reserve Bank of Kansas City

Discussant: Roel Beetsma, University of Amsterdam and European Fiscal Board

14:15

Debt sustainability in a low interest rate world

Neil R. Mehrotra, Federal Reserve Bank of New York

Discussant: Jean-Baptiste Michau, École Polytechnique

15:00
Coffee break
15:30

Keynote speech: Priorities on deepening EMU for the coming five years

Paolo Gentiloni, Commissioner for the Economy, European Commission

16:30

Policy panel: Deepening of EMU – how to improve macroeconomic stabilisation using fiscal policy at the euro area level

Chair: Philip Lane, European Central Bank

Panellists

18:00
End of Day 1
19:00

Conference dinner

Dinner speech by Vítor Gaspar, International Monetary Fund

Speech

Friday, 20 December 2019

8:30
Coffee
9:15

Keynote speech: The future of fiscal policy

Alan Auerbach, University of California, Berkeley

10:15
Coffee break
 

Session 3: Sovereign risk, monetary policy and macroprudential regulation

Chair: Livio Stracca, European Central Bank

10:45

Fiscal limit and fiscal space in a heterogeneous monetary union: normal times vs the zero lower bound

Pablo Burriel, Banco de España

Discussant: Niccolò Battistini, European Central Bank

11:30

Breaking the sovereign-bank nexus

Jorge Abad, CEMFI

Discussant: Massimiliano Pisani, Banca d’Italia

12:15
Buffet lunch
 
End of conference

This programme may be subject to change without notice.

Audiovisual notice: Please note that media will be attending and photography and filming activities will take place during the event.

General information

Conference venue

European Central Bank
Main building
Press Room
Sonnemannstrasse 20
60314 Frankfurt am Main

+49 69 1344 0
Fax: +49 69 1344 6000
info@ecb.europa.eu

Conference language

English

Transfers

Participants are requested to arrange their own transfers, unless indicated otherwise.

Organisers

Christophe Kamps
Directorate General Economics
+49 69 1344 6114
christophe.kamps@ecb.europa.eu

Jacopo Cimadomo
Directorate General Economics
+49 69 1344 5392
jacopo.cimadomo@ecb.europa.eu

Demosthenes Ioannou
Directorate General International and European Relations
+49 69 1344 6343
demosthenes.ioannou@ecb.europa.eu

Bartosz Mackowiak
Directorate General Research
+49 69 1344 5364
bartosz.mackowiak@ecb.europa.eu

David Sondermann
Directorate General Economics
+49 69 1344 6708
david.sondermann@ecb.europa.eu

Leopold von Thadden
Directorate General Monetary Policy
+49 69 1344 6706
leopold.von_thadden@ecb.europa.eu

Contact

Annekatrin Bergmann
Directorate General Economics
+49 69 1344 7818
annekatrin.bergmann@ecb.europa.eu

Conference email address: fiscal-conference-2019@ecb.europa.eu