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ESCB Research Cluster 2 on International Macroeconomics, Fiscal Policy, Labour Economics, Competitiveness and EMU Governance

Seventh Annual Workshop

16-17 November 2023

Bank of England, London

We are pleased to announce the Seventh Annual Workshop of ESCB Research Cluster 2, to be held at the Bank of England in London, on 16 – 17 November 2023.

Research Cluster 2 focuses on issues related to international macroeconomics, fiscal policy, labour economics, competitiveness, and EMU governance. The Annual Workshop seeks to foster awareness and collaboration in research initiatives across institutions, and so submissions will be considered over a wide range of topics. Both theoretical and empirical contributions are welcome. The workshop is open to European System of Central Banks (ESCB) and Bank of England (BoE) researchers only.

Keynote speakers will be Mar Reguant (Northwestern University) and John van Reenen (LSE).

Relevant topics include, but are not restricted to:

  • The impact of the energy shock on firms, markets, workers, and households
  • Legacy of the pandemic on firm balance sheets, competition and productivity
  • Persistent labour market effects of the pandemic, the future of work, and the role of policy
  • The future of global supply chains and the international transmission of shocks
  • Impact of rising interest rates on the dynamics of sovereign and private debt
  • Micro and macro productivity dynamics and determinants
  • The interactions between monetary, fiscal and financial stability policies
  • The economics of sanctions
  • The future of the EMU governance, reforms and challenges to EMU deepening


Deadline for submission: 30 June 2023

ESCB authors are invited to submit a draft paper or extended abstract, in PDF format, by 30 June 2023, to

Please submit papers not yet accepted for publication.

ESCB researchers are welcome to express interest in participating in the workshop as discussants or observers, whether or not you are submitting a paper.


Rana Sajedi (Bank of England) and Federico Cingano (Banca d’Italia)

Scientific committee

  • Henrique Basso, Banco de España
  • Luca Citino, Banca d’Italia
  • Xavier Debrun, National Bank of Belgium
  • Michaela Elfsbacka-Schmöller, Bank of Finland
  • Ana Lamo, ECB
  • Vivien Lewis, Bundesbank
  • Noëmie Lisack, ECB
  • Gil Nogueiras, Banco de Portugal
  • Alari Paulus, Eesti Pank
  • Julia Schmidt, Banque de France
  • Rana Sajedi, Bank of England
  • Federico Cingano, Banca d’Italia