Online workshop: A Dynamic Economic and Monetary Union
Online workshop, 8 – 9 October 2020
The ADEMU 2020 workshop will be part of Luxembourg’s celebrations of the 50th anniversary of the Werner Report and the 10th / 8th anniversary of the EFSF / ESM. The workshop, originally planned to take place within the Barcelona GSE Summer Forum 2020, is sponsored by the Pierre Werner Chair of the European University Institute, the European Stability Mechanism and the University of Luxembourg.
Workshop Programme
Ahead of the event
On the day before the event, the Pierre Werner Chair is organising two panels at the conference of the University of Luxembourg The Werner Report, 50 Years On – EMU in Uncertain Times: Learning from the Past to Navigate the Future. >> More information
Thursday, 8 October
Session 1: Debt and Internal Devaluations
Chair: Daragh Clancy (ESM)
13:00 – 14:00
Speaker: Luca Dedola (European Central Bank)
Discussant: Keith Kuster (University of Bonn)
Self-Fulfilling Debt Crises, Fiscal Policy and Investment
Speaker: Carlo Galli (University College London)
Discussant: Giancarlo Corsetti (University of Cambridge)
Session 2: Unions with Default
Chair: Mark Aguiar (Princeton University)
14:00 – 15:00
Fiscal and Currency Union with Default and Exit (with R. Marimon and C. Simpson-Bell)
Speaker: Alessandro Ferrari (University of Zurich)
Discussant: Michal Kobielarz (KU Leuven)
Making Sovereign Debt Safe with a Financial Stability Fund (with Y. Liu and R. Marimon)
Speaker: Adrien Wicht (European University Institute)
Discussant: Aitor Erce (UPNA Navarra Public University)
15:00 – 15:15
Break
Session 3: Fiscal and Monetary Policies
Chair: Hugo Rodríguez (IAE-CSIC and Barcelona GSE)
15:15 – 16:15
Shotgun Weddings between Monetary and Fiscal Policies (with T. Sargent)
Speaker: Marco Basseto (Federal Reserve Bank of Minneapolis)
Discussant: Frank Smets (European Central Bank)
Optimal Fiscal Consolidation under Frictional Financial Markets
Speaker: Dejanir Silva (University of Illinois, Urbana-Champaign)
Discussant: Rana Sajedi (Bank of England)
Keynote speech
16:15 – 17:15
Credit Horizons (with N. Kiyotaki and S. Zhang)
Keynote speaker: John Moore (University of Edinburgh and LSE)
Chair: Rolf Strauch (ESM)
Concluding remarks celebrating the 10th anniversary of EFSF/ESM
Speaker: Klaus Regling (ESM)
Friday, 9 October
Session 4: Monetary and Financial Unions
Chair: Pedro Teles (Católica University Lisbon and Bank of Portugal)
14:00 – 15:00
Monetary Union and Financial Integration
Speaker: Luca Fornaro (CREI)
Discussant: Luis Rojas (MOVE-UAB and Barcelona GSE)
Does a Currency Union Need a Capital Market Union? Risk Sharing via Banks and Markets
Speaker: Markus Sihvonen (Bank of Finland)
Discussant: Matthias Kaldorf (CMR University of Köln)
Session 5: Automation and Labour Mobility
Chair: Giancarlo Corsetti (University of Cambridge)
15:00 – 16:00
Should Robots Be Taxed? (with J. Guerreiro and S. Rebelo)
Speaker: Pedro Teles (Banco de Portugal and Universidade Católica-Lisbon SBE)
Discussant: Arpad Abraham (University of Bristol and EUI)
Quantifying the Benefits of Labour Mobility in a Currency Union (with C. House, C.Pröbsting)
Speaker.Linda L. Tesar (University of Michigan)
Discussant: Andreja Lenarcic (ESM)
16:00 – 16:15
Break
Keynote speech
16:15 – 17:15
Keynote speaker: Víctor Ríos-Rull (University of Pennsylvania)
Chair: Stéphane Pallage (University of Luxembourg)
Concluding remarks
Ramon Marimon and Stéphane Pallage (Rector, University of Luxembourg)
Scientific Committee
- Mark Aguiar (Princeton University)
- Daragh Clancy (European Stability Mechanism)
- Ramon Marimon (European University Institute and UPF – Barcelona GSE)
- Hugo Rodríguez (IAE-CSIC and Barcelona GSE)
- Frank Smets (European Central Bank)
- Pedro Teles (Católica University Lisbon and Bank of Portugal)