“Macroeconomic and Financial Imbalances and Spillovers

Macroeconomic and Financial Imbalances and Spillovers Workshop

On Friday 29th and Saturday 30th April a workshop will be taking place on Macroeconomic and Financial Imbalances and Spillovers as part of the ADEMU Project.

This workshop is being organised by Work Package 3 of the ADEMU project. The research focus of this Work Package is on the spillover effects between member states that are caused by shocks to fiscal and financial variables and on the role of international imbalances in macroeconomic and financial variables due to asymmetric patterns of economic interdependence within the euro area and between the EU states.  The main subject of the workshop is the extent to which these effects and imbalances have contributed to recent macroeconomic instability and the potential role of macroprudential regulation.

The workshop is being organised by Radim Bohacek (CERGE-EI) and Hugo Rodriguez Mendizabal (Barcelona GSE).

The programme for the two day workshop, will be as follows:

Friday April 29

The Real Effects of Liquidity Shocks in Sovereign Debt Markets: Evidence from Italy | Alejandro Vicondoa | EUI

Bank Opacity and Financial Crises | Joachim Jungherr | CSIC and Barcelona GSE

Bank Size, Risk Diversification and Money Markets | Hugo Rodriguez Mendizabal | CSIC and Barcelona GSE

Monetary-Fiscal Interactions with Endogenous Liquidity Frictions | Wei Cui | UCL

Why Prices Don’t Respond Sooner to a Prospective Sovereign Debt Crisis| Anton R. Braun | Federal Reserve Board of Atlanta

Saturday April 30

Deleveraging, Deflation and Depreciation in the Euro Area | Dmitry Kuvshinov | University of Bonn

Policy Spillovers and Synergies in a Monetary Union | Oscar Arce | Banco de Espana

Volatility During the Financial Crisis Through the Lens of High Frequency Data: A Realized GARCH Approach | Peter Hansen | EUI

Asymmetric Trade Liberalizations and Current Account Dynamics | Alessandro Barattieri | Collegio Carlo Alberto and ESG UQAM

Sovereign Default: The Role of Expectations | Juan Pablo Nicolini | Federal Reserve Bank of Minneapolis

Panel Discussion

Those wishing to attend should register with radim.bohacek@cerge-ei.cz