Primera Conferencia Anual: ESCB Research Cluster 2 sobre Macroeconomía Internacional, Política Fiscal, Economía Laboral, Competitividad, y Gobernanza de la UEM

Ponentes

16 Noviembre

• • 08:15h - 09:00h
  • Registration and Coffee
• • 09:00h - 09:20h
  • Welcome address:

    Juan Francisco Jimeno (Banco de España)

    Workshop introduction:
    James Costain (Banco de España) | Antoine Berthou (Banque de France)

• • 09:20h - 11:20h
  • FIRST SESSION

    Finance, allocation, and productivity

    Chair: Matteo Bugamelli (Banca d’Italia)

• • 09:20h - 10:00h
  • Breaking the shackles: zombie firms, weak banks and depressed restructuring in Europe

    *Filippos Petroulakis (ECB) | Dan Andrews (OECD)

    Discussant: Enrique Moral (Banco de España)
    Enrique Moral Presentación  (126 KB)

• • 10:00h - 10:40h
  • Credit misallocation during the european financial crisis ( 922 KB )

    *Enrico Sette (Bank of Italy) | Fabiano Schivardi (LUISS University, EIEF, IGIER and CEPR) | Guido Tabellini (Bocconi University and CEPR)
    Enrico Sette Presentación  (524 KB)

    Discussant: Paloma López-García (ECB)
    Paloma López-García Presentación  (2 MB)

• • 10:40h - 11:20h
  • The importance of the EU regional support programmes for firm performance ( 795 KB )

    *Olegs Tkacevs (Latvijas Banka) | Konstantins Benkovskis (Latvijas Banka) | Naomitsu Yashiro (OECD)
    Olegs Tkacevs Presentación  (1 MB)

    Discussant: Emmanuel Dhyne (Nationale Bank van België)
    Emmanuel Dhyne Presentación  (1 MB)

• • 11:20h - 11:40h
  • Coffee break
• • 11:40h - 13:00h
  • SECOND SESSION
• • 11:40h - 12:20h
  • Shocks and adjustment of firms: Evidence from a survey among European firms

    *Stephen Millard (Bank of England) | Tairi Room (Estonian Central Bank) | Thomas Mathä and Ladislaw Wintr (Central Bank of Luxembourg) | Robert Wyszynski (National Bank of Poland)

    Discussant: Karsten Staehr (Eesti Pank)
    Karsten Staehr Presentación  (79 KB)

• • 12:20h - 13:00h
  • Flexibility of new hires’ earnings ( 1 MB )

    *Reamonn Lydon (Central Bank of Ireland) | Matija Lozej (Central Bank of Ireland)
    Reamonn Lydon Presentación  (1 MB)

    Discussant: Clémence Berson (Banque de France)

• • 13:00h - 14:00h
  • Keynote lecture

    Exchange rate misalignments, capital flows and optimal monetary policy trade-offs
    *Giancarlo Corsetti (Cambridge University)
    Giancarlo Corsetti Presentación  (1 MB)

• • 14:00h - 15:00h
  • Lunch
• • 15:00h - 17:00h
  • THIRD SESSION

    Labour market institutions

    Chair: Tairi Room (Eesti Pank)

• • 15:00h - 15:40h
  • Employment protection legislation and financial frictions: what drags Italian GDP down? ( 797 KB )

    *Alfonso Rosolia (Bank of Italy) | Giacomo Rodano (Bank of Italy) | Filippo Scoccianti (Bank of Italy)
    Alfonso Rosolia Presentación  (206 KB)

    Discussant: Simon Ray (Banque de France)
    Simon Ray Presentación  (233 KB)

• • 15:40h - 16:20h
  • Labour market institutions and business cycle dynamics ( 1 MB )

    * Petteri Juvonen (Bank of Finland)
    Petteri Juvonen Presentación  (1 MB)

    Discussant: Jan Brůha (Czech National Bank)
    Jan Brůha Presentación  (429 KB)

• • 16:20h - 16:40h
  • Coffee break
• • 16:40h - 18:40h
  • FOURTH SESSION

    Sharing macro risk in Europe

    Chair: Javier J. Pérez (Banco de España)

• • 16:40h - 17:20h
  • Private and public risk-sharing in the euro area ( 243 KB )

    * Jacopo Cimadomo (ECB) | Oana Furtuna (University of Amsterdam) | Massimo Giuliodori (University of Amsterdam)
    Jacopo Cimadomo Presentación  (1 MB)

    Discussant: Pietro Tommasino (Banca d’Italia)
    Pietro Tommasino Presentación  (523 KB)

• • 17:20h - 18:00h
  • Coordinated fiscal policies in the euro area: revisiting the size of spillovers ( 398 KB )

    *Pablo Burriel (Banco de España) | Mario Alloza (Banco de España) | Javier Pérez (Banco de España)
    Pablo Burriel Presentación  (341 KB)

    Discussant: Beatrice Pierluigi (ECB)
    Beatrice Pierluigi Presentación  (1 MB)

• • 18:00h - 18:40h
  • Evaluating recent proposals for a common European unemployment insurance ( 259 KB )

    * Nikolai Stähler (Deutsche Bundesbank) | Mathias Dolls (Centre for European Economic Research (ZEW) | Fabian Winkler (Federal Reserve Board)
    Nikolai Stähler Presentación  (987 KB)

    Discussant: Mark Strøm Kristoffersen (Danmarks Nationalbank)
    Mark Strøm Kristoffersen Presentación  (738 KB)

• • Conference dinner

17 Noviembre

• • 08:30h - 09:00h
  • Registration and Coffee
• • 09:00h - 11:00h
  • FIRST SESSION

    Trade, exchange rates and imbalances

    Chair: Silvia Fabiani (Banca d’Italia)

• • 09:00h - 09:40h
  • Goods and factor market integration: a quantitative assessment of the EU enlargement ( 1 MB )

    * Luca David Opromolla (Banco de Portugal) | Lorenzo Caliendo (Yale University) | Fernando Parro (Johns Hopkins University) | Alessandro Sforza (London School of Economics)
    Luca David Opromolla Presentación  (2 MB)

    Discussant: Claire Lelarge (Banque de France)
    Claire Lelarge Presentación  (169 KB)

• • 09:40h - 10:20h
  • The macroeconomic effects of trade tariffs: revisiting the Lerner symmetry result ( 399 KB )

    * Jesper Lindé (Sveriges Riksbank) | Andrea Pescatori (IMF)
    Jesper Lindé Presentación  (1 MB)

    Discussant: Ivan Jaccard (ECB)
    Ivan Jaccard Presentación  (137 KB)

• • 10:20h - 11:00h
  • The missing internal devaluation: nominal and real adjustment to the Great Recession within the US

    * Luca Dedola (ECB) | Giancarlo Corsetti (Cambridge University and CEPR) | Riccardo Trezzi (Federal Reserve Board)
    Luca Dedola Presentación  (4 MB)

    Discussant: Francesco Pappadà (Banque de France)
    Francesco Pappadà Presentación  (147 KB)

• • 11:00h - 11:30h
  • Coffee break
• • 11:30h - 13:30h
  • SECOND SESSION

    Macroeconomic impact of demographics

    Chair: Aitor Lacuesta (Banco de España)

• • 11:30h - 12:10h
  • Fiscal policy and forward guidance with preferences over wealth ( 922 KB )

    * Ansgar Rannenberg (Central Bank of Ireland)
    Ansgar Rannenberg Presentación  (2 MB)

    Discussant: Dennis Bonam (De Nederlandsche Bank)
    Dennis Bonam Presentación  (236 KB)

• • 12:10h - 12:50h
  • The young, the old, and the government: demographics and fiscal multipliers ( 1 MB )

    * Henrique Basso (Banco de España) | Omar Rachedi (Banco de España)
    Henrique Basso Presentación  (762 KB)

    Discussant: Luca Marchiori (Banque Central du Luxembourg)
    Luca Marchiori Presentación  (274 KB)

• • 12:50h - 13:30h
  • Demographic trends and the real interest rate ( 2 MB )

    * Gregory Thwaites (Bank of England) | Noëmie Lisack (Bank of England) | Rana Sajedi (Bank of England)
    Gregory Thwaites Presentación  (2 MB)

    Discussant: Juan Francisco Jimeno (Banco de España)
    Juan Francisco Jimeno Presentación  (45 KB)

• • 13:30h - 14:30h
  • Lunch
• • 14:30h - 17:30h
  • Keynote lecture

    On the geography of global value chains
    *Pol Antras (Harvard University)
    Pol Antras Presentación  (6 MB)

• • 15:30h - 17:30h
  • THIRD SESSION

    Growth, structural change, and inequality

    Chair: James Costain (Banco de España)

• • 15:30h - 16:10h
  • Countercyclical school attainment and intergenerational mobility ( 1 MB )

    *Clément Malgouyres (Banque de France) | Andreu Arenas (CORE, Université catholique de Louvain)
    Clément Malgouyres Presentación  (1.012 KB)

    Discussant: Laura Hospido (Banco de España)
    Laura Hospido Presentación  (219 KB)

• • 16:10h - 16:50h
  • Why do manufacturing firms produce services? Evidence for the servitization paradox in Belgium ( 331 KB )

    * Catherine Fuss (National Bank of Belgium) | Pierre Blanchard (UPEC) | Claude Mathieu (UPEC)
    Catherine Fuss Presentación  (718 KB)

    Discussant: Tommaso Aquilante (Bank of England)
    Tommaso Aquilante Presentación  (278 KB)

• • 16:50h - 17:30h
  • Innovation, firms and wage inequality ( 615 KB )

    * Antonin Bergeaud (Banque de France) | Philippe Aghion (College de France and LSE) | Richard Blundell (UCL, IFS and CEPR) | Rachel Griffith (University of Manchester, IFS and CEPR)
    Antonin Bergeaud. Innovation premium. Presentación  (310 KB)
    Antonin Bergeaud. Missing growth Presentación  (62 KB)

    Discussant: Tuomas Takalo (Bank of Finland)
    Tuomas Takalo Presentación  (39 KB)

• • 17:30h - 17:50h
  • FINAL DISCUSSION