On 12 December 2016, the European University Institute (EUI) in Florence hosted an ADEMU mini-conference on the topic of Fiscal Federalism for the EMU.` Continue reading
On Monday 10th October 2016, the ADEMU Project held a lecture on “Sustainable Economic and Monetary Union in Europe in turbulent times”, given by Prof. René Smits from the University of Amsterdam.
Starting from a legal-institutional perspective, the lecture sketched out the major challenges for researchers and policymakers alike. It also looked at the areas of economic governance, monetary union and banking union with a view to the sustainability of Europe’s Economic and Monetary Union.
Below is the full presentation from the event and the speakers notes can be viewed here:
Below is the presentation from the ADEMU Lecture “Competitive Effects of Trade: Theory and Measurement” by Marc Melitz (Harvard University) which was held at EUI on September 20th 2016.
Trade induces many different types of reallocations across firms and products. These reallocations include selection effects (which products are sold where; which firms survive, and which ones export) as well as competition effects (responses in markups that generate changes in the relative sales of products in a given destination). These reallocations generate endogenous productivity changes (independent of technology) which in turn contribute to aggregate gains from trade. This lecture first develops a flexible theoretical framework that jointly characterizes these selection and competition effects of trade. The lecture then reviews some new empirical evidence highlighting these competitive effects of trade for French firms; and their consequences for French manufacturing productivity growth.