Under the umbrella of the ADEMU project, Franck Portier of the Toulouse School of Economics (TSE) organized a summer school from 19th to 20th of June 2017. During those two days, the participants (PhD students, postdocs and professors from European and American universities) followed an ambitious schedule of lectures and presentations focusing on the ADEMU research agenda hosted in the premises of TSE.
Jean Tirole, Tim Kehoe and Christian Hellwig started and concluded the presentation sessions with dedicated ADEMU lectures in which they discussed “Macroprudential Regulation in Economic and Monetary Unions” (Tirole), “Models of Sovereign Debt Crises” (Kehoe) and “General equilibrium pricing with endogenous financial market disruptions” (Hellwig).
These lectures acted as an inspiring and thought-provoking frame to the event and provided for a smooth transition into the eleven presentations, in which the invited PhD students and postdocs presented their ongoing research projects. Their contributions covered a wide range of ADEMU topics. For example, heterogeneous housing markets in the EMU and their effects on monetary policy transmission, the potential of common investment policies to foster entrepreneurial activity, the effect of increased bank equity requirements on lending in the Euro Area and estimating the cost of sovereign default.
All presenters received many suggestions for further advancement of their papers from an engaging audience which also consisted of TSE ADEMU researchers Sumudu Kankanamge, Patrick Fève and Robert Ulbricht as well as students from TSE. The constructive, collegial and inspiring discussions continued during the lunch and coffee breaks. Hence, the summer school was a great success in bringing together researchers from different institutions and in supporting the progress on papers dedicated to specific questions related to the ADEMU research agenda.