ADEMU’s workshop on rethinking fiscal policy, hosted by the Católica Lisbon School of Business & Economics, attracted speakers from institutions including the Federal Reserve Bank of Chicago, Banco de España, the University of Pennsylvania and the University of Minnesota.

Organised by Catarina Reis (Católica Lisbon School of Business & Economics) and Pedro Teles  (Banco de Portugal, Católica Lisbon School of Business & Economics, CEPR), the workshop brought together the latest research on fiscal policy and looked at the optimal design of fiscal policy. It also examiined research on how international coordination, and in particular economic and monetary union, can affect the design of policy.

The papers discussed at the workshop can be downloaded below:

High Marginal Tax Rates on the Top 1%? Lessons from a Life Cycle Model with Idiosyncratic Income Risk

Fabian Kindermann (University of Bonn and Netspar), Dirk Krueger (University of Pennsylvania, CEPR, CFS, NBER and Netspar)

Ramsey Taxation in the Global Economy

V. V. Chari (University of Minnesota and Federal Reserve Bank of Minneapolis), Juan Pablo Nicolini (Federal Reserve Bank of Minneapolis and Universidad Di Tella), Pedro Teles (Banco de Portugal, Catolica Lisbon SBE, CEPR)

Should We Stop Taxing Homes?

Isabel Correia (Banco de Portugal, Católica Lisbon School of Business & Economics, CEPR), Catarina Reis (Católica Lisbon School of Business & Economics), Pedro Teles (Banco de Portugal, Católica Lisbon School of Business & Economics, CEPR)

Time-Consistent Institutional Design

Charles Brendon (FRB Minneapolis and NBER), Martin Ellison (University of Oxford)

Optimal Fiscal-Monetary Policy with Redistribution

Anmol Bhandari (University of Minnesota), David Evans (University of Oregon), Mikhail Golosov (Northwestern University), Thomas Sargent (New York University)

Breaking the Spell with Credit-Easing Self-Confirming Credit Crises in Competitive Search Economies

Ramon Marimon (EUI, UPF – Barcelona GSE, NBER and CEPR), Gaetano Gaballo (European Central Bank)

Fiscal Policy, Sovereign Risk, and Unemployment

Javier Bianchi (FRB Minneapolis and NBER), Pablo Ottonello (U. Michigan), Ignacio Presno (Federal Reserve Board)

Is Inflation Default? The Role of Information in Debt Crises

Marco Bassetto (Federal Reserve Bank of Chicago), Carlo Galli (University College London and IFS)

When Fiscal Consolidation Meets Private Deleveraging

Javier Andrés (Universidad de Valencia), Oscar Arce (Banco de España), Carlos Thomas (Banco de España)

Fiscal Consolidation Plans and Income Inequality

Pedro Brinca (Universidade Nova de Lisboa), Miguel Ferreira (Universidade Nova de Lisboa), Francesco Franco (Universidade Nova de Lisboa), Hans Holter (University of Oslo),
Laurence Malafry (Stockholm University)