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Debt, growth and macroeconomic policies
6 and 7 December 2012, Frankfurt am Main, Eurotower CVII
| 8.30 a.m. | Registration and coffee |
| 9 a.m. | Keynote speech The debt crisis in Europe: How did we get here and how can we get out? Timothy Kehoe (University of Minnesota) presentation |
| SESSION I: MONETARY AND FISCAL POLICY IN AN ENVIRONMENT OF HIGH DEBT |
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| 10 a.m. | Deficits, public debt dynamics, and tax and spending multipliers Gauti B. Eggertsson (Federal Reserve Bank of New York) presentation with Matthew Denes (University of Pennsylvania) and Sophia Gilbukh (Federal Reserve Bank of New York) Discussant: James Costain (Banco de España) presentation |
| 11.10 a.m. | Coffee break |
| 11.30 a.m. | Government debt, the zero lower bound and monetary policy Mathias Trabandt (Board of Governors of the Federal Reserve System) paper, presentation with Frank Smets (European Central Bank) Discussants: Leopold von Thadden (University of Mainz) presentation |
| 12.40 p.m. | Lunch |
| SESSION II: DEBT OVERHANG AND DELEVERAGING |
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| 2 p.m. | A European hangover Jean Imbs (Paris School of Economics) paper, presentation with Romain Rancière (Paris School of Economics) Discussant: Ugo Panizza (Graduate Institute Geneva) |
| 3.10 p.m. | Debt deleveraging and the exchange rate Federica Romei (LUISS Guido Carli) paper, presentation with Pierpaolo Benigno (LUISS Guido Carli) Discussant: Cédric Tille (Graduate Institute Geneva) presentation |
| 4.20 p.m. | Coffee break |
| 4.40 p.m. | On the optimal design of a financial stability fund Ramon Marimon (European University Institute, UPF - Barcelona GSE) paper with Árpád Ábrahám (European University Institute) and Eva Carceles-Poveda (State University of New York at Stony Brook) Discussant: Andreas Schabert (University of Dortmund) presentation |
| 5.50 p.m. | Fiscal policy and the distribution of consumption risk M. Max Croce (University of North Carolina, Chapel Hill) paper, presentation with Lukas Schmid (Fuqua School of Business, Duke University), Thien T. Nguyen (The Wharton School, University of Pennsylvania) Discussant: Alexander Michaelides (University of Cyprus) presentation |
| 7.30 p.m. | Conference dinner |
| Dinner speech Benoît Coeuré (Member of the ECB’s Executive Board) Kindly note that dinner attendance is upon invitation only. |
| 8.45 a.m. | Registration and coffee |
| 9 a.m. | Keynote speech New perspectives on the European debt crisis Enrique Mendoza (University of Maryland) presentation |
| SESSION III: BAILOUTS AND DEBT STRUCTURE |
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| 10 a.m. | Optimal policy for macro-financial stability Eric Young (University of Virginia) paper, presentation with Gianluca Benigno (London School of Economics) Huigang Chen (MarketShare Partners) Christopher Otrok (University of Missouri and Federal Reserve Bank of St. Louis), Alessandro Rebucci (Inter-American Development Bank) Discussant: Bartosz Maćkowiak (European Central Bank) presentation |
| 11.10 a.m. | Coffee break |
| 11.30 a.m. | Fiscal foundations of inflation: imperfect knowledge Stefano Eusepi (Federal Reserve Bank of New York) paper, presentation with Bruce Preston (Monash University) Discussant: Christian Matthes (UPF - Barcelona GSE) presentation |
| 12.40 p.m. | Lunch |
| 2 p.m. | Policy panel Macroeconomic policies in the presence of high debt Frank Smets (Chair, European Central Bank) Luc Laeven (International Monetary Fund) Alexander Michaelides (University of Cyprus) presentation Philip Turner (Bank for International Settlements) presentation |
| 4 p.m. | End of conference |
| Conference dates | 6 and 7 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 |
| Dinner venue | Restaurant Emma Metzler Schaumainkai 17 60594 Frankfurt am Main |
| Contact persons | Saskia Schwägermann Jutta Auth |
| Website | http://www.ecb.europa.eu/events/conferences/html/201212_debtgrowthmacro.en.html |
| Programme | Please note that this programme may be subject to change without notice. |