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
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
- 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
- Silvia Ardagna, Goldman Sachs
- Clemens Fuest, Ifo Institute
- Luis Garicano, London School of Economics and Member of the European Parliament
- 18:00
- End of Day 1
- 19:00
-
Conference dinner
Dinner speech by Vítor Gaspar, International Monetary Fund
Speech
- 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
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
English
Participants are requested to arrange their own transfers, unless indicated otherwise.
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
Annekatrin Bergmann
Directorate General Economics
+49 69 1344 7818
annekatrin.bergmann@ecb.europa.eu
Conference email address: fiscal-conference-2019@ecb.europa.eu