Reforming EU Fiscal Governance
13 and 14 December 2012 , Frankfurt am Main
8.30 a.m. | Registration and coffee |
8.30 a.m. 9 a.m. – 9.15 a.m. | Welcome and introductory remarks Peter Praet (Member of the ECB Executive Board) |
9.15 a.m. – 10.35 a.m. | Session 1: Chair: Adi Brender (Central Bank of Israel) |
The Design of National Fiscal Frameworks and their Budgetary Impact Carolin Nerlich (European Central Bank), Wolf Heinrich Reuter (Vienna University of Economics and Business) paper presentation Sovereign Bond Market Reactions to Fiscal Rules and No-Bailout Clauses — The Swiss Experience
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presentation Discussant: Mark Hallerberg (Hertie School of Governance, Berlin) presentation General discussion |
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10.35 a.m. – 10.50 a.m. | Coffee break |
10:50 a.m. - 12:30 p.m. | Session 2: Fiscal Governance in the EU — Status Quo and Ways Ahead Chair: Lucio Pench (European Commission, DG ECFIN) |
Europe’s New Fiscal Rules
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presentation The New EU Fiscal Governance Framework: a Quantum Leap or Only Small Steps Ahead? Thinking about Europe as a Federation — Consequences for Fiscal Institutions, Processes and Rules
presentation Discussant: Helge Berger (International Monetary Fund) presentation General discussion |
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12.30 p.m. – 1.30 p.m. | Buffet lunch: Foyer, 36th floor |
1.30 p.m. – 2.30 p.m. | Keynote speech: “Experiences with Fiscal Federations”
presentation General discussion |
2.30 p.m. – 2.45 p.m. | Coffee break |
2.45 p.m. – 4.20 p.m. | Session 3: Fiscal Union — Theoretical and Empirical Issues Chair: Frank Smets (European Central Bank) |
Fiscal Unions The Euro Area Crisis: Need for a Supranational Fiscal Risk Sharing Mechanism? Toward a Fiscal Union for the Euro Area: Why and How? Discussant: Livio Stracca (European Central Bank) paper General discussion |
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4.20 p.m. – 4.40 p.m. | Coffee break |
4.40 p.m. – 5.10 p.m. | Invited Lecture: “Output Spillovers from Fiscal Policy”
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presentation Alan J. Auerbach (University of California, Berkeley) |
5.10 p.m. – 6.10 p.m. | Panel discussion: EU Fiscal Governance — A Private Sector Perspective Chair: Christiane Nickel (European Central Bank) Panellists: Marco Annunziata (General Electric), Laurence Boone (Bank of America), Huw Pill (Goldman Sachs), Thomas Mayer (Deutsche Bank) |
8 p.m. | Conference dinner |
Dinner speech Dinner Speech: Peter Praet (Member of the ECB Executive Board) |
9 a.m. | Coffee |
9.30 a.m. – 10.30 a.m. | Keynote speech: “Challenges for EU Fiscal Governance”
presentation General discussion |
10.30 a.m. – 10.45 a.m. | Coffee break |
10.45 a.m. – 12 p.m. | Session 4: Designing Fiscal Consolidation in a Monetary Union Chair: Andrea Schaechter (International Monetary Fund) |
The Design of Fiscal Adjustments
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presentation Fiscal Consolidation in a Currency Union: Spending Cuts vs. Tax Hikes
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presentation Discussant: Roel Beetsma (Amsterdam University) presentation |
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12 p.m. – 1.15 p.m. | General discussion |
1.15 p.m. – 2 p.m. | Lunch: Dining Area (2nd floor, Eurotower) |
2 p.m. – 3.30 p.m. | Keynote speech: “Drawing Lessons for Europe from the US Experience with Fiscal Federalism”
presentation Panel discussion: Fiscal Integration -The Path Forward |
3.30 p.m. – 3.40 p.m. | Closing remarks Carlo Cottarelli (International Monetary Fund) |
Conference dates | Thursday, 13 and Friday, 14 December 2012 |
Conference venue | European Central Bank 60311 Frankfurt am Main Tel.: +49 (0) 69 1344 0 Fax: +49 (0) 69 1344 6000 E-mail: info@ecb.europa.eu |
Conference language | English |
Programme | Please note that this programme may be subject to change without notice. |
Dinner venue | KUBU Restaurant Am Opernplatz 2 60313 Frankfurt am Main |
Conference organisers | H. Berger (International Monetary Fund), J. Cimadomo (European Central Bank), M. Freier (European Central Bank), C. Kamps (European Central Bank), C. Nickel (European Central Bank), A. Schaechter (International Monetary Fund) |
Contact persons | Jutta Auth Elizabeth Morton |
Website | http://www.ecb.europa.eu/events/conferences/html/20121312_Ref_EU_Fisc_Gov.en.html |