CEDERS - Program

CEDERS
Centre de Recherche sur les Dynamiques et Politiques Économiques
et l'Économie des Ressources

Identify

Program

"The Euro Area, the Euro and the World Business Cycle"

Location:

Centre des Congrès - 14 boulevard Carnot - 13100 Aix-en-Provence

Thursday 3 July

8:30-9:00 Registration

9:00-10:30 Macroeconomic Adjustments in the Euro Area

Chair: Daniele Terlizzese (Einaudi Institute for Economics and Finance)

"Comparing Shocks and Frictions in US and Euro Area Business Cycles - Some New Evidence.pdf", Nicolas Groshenny (University of Bocconi)

Discussant: Caroline Duburcq (DEFI, University of Méditerranée)

"Budget Deficits and External Deficits A Multy-Country Analysis.pdf", Martin Boileau and Michel Normandin* (HEC Montreal, DEFI-University of Méditerranée)

Discussant: Xavier Ragot (Paris School of Economics)

10:30-11:00 Coffee break

11:00-12:30 Monetary Policy

Chair: Luca Dedola (ECB)

"External Trade and Monetary Policy in a Currency Area.pdf", Martina Cecioni (Banca d'Italia and UPF)

Discussant: Michele Lenza (ECB)

"To Be or not to Be in Monetary Union - A Synthesis.pdf", Laurent Clerc, Harris Dellas and Olivier Loisel* (Banque de France)

Discussant: Daniele Terlizzese (Einaudi Institute for Economics and Finance)

12:30-14:00 Lunch

14:00-15:30 Financial Integration

Chair: Gilles Nancy (DEFI, University of Méditerranée)

"The Impact of the Euro on Equity Markets - A Country and Sector Decomposition.pdf", Lorenzo Cappiello, Arjian Kadareja and Simone Manganelli* (ECB)

Discussant: Natacha Valla (Goldman)

"Industrial Structure, Market Integration, and International Portfolio Diversification.pdf", Francesca Carrieri* (University of Montreal), Vihang Errunza and Sergei Sarkissan

Discussant: Christian Pfister (Banque de France)

15:30-16:00 Coffee break

16:00-17:30 Financial and Real Integration

Chair: Gilles Nancy (DEFI, University of Méditerranée)

"The Geography of Asset Trade and the Euro - Insiders and Outsiders.pdf", Philippe Martin and Nicolas Coeurdacier* (London Business School).

Discussant: Aurélien Eyquem (University of Rennes)

"Did the Maastricht treaty or the ECB Creation Alter the European Business Cycle.pdf?", Fabio Canova, Matteo Ciccarelli* (ECB) and Eva Ortega* (Banco de Espana)

Discussant: Giorgio Primiceri (Northwestern University)

17:30-18:00 Coffee break

18:00-19:00 Lecture by Sergio Rebelo (Northwestern University)

Chair: Spencer Krane (Chicago FED)

"News and Business Cycles in Open Economies.pdf", joint with Nir Jaimovich

Friday 4 July

8:45-10:15 Policy panel: Divergence in Monetary Policies across the Atlantic?

Chair: Anton Brender (Dexia)

Sergio Rebelo (Northwestern University)

Charles Evans (President, Federal Reserve Bank of Chicago)

Jean-Pierre Landau (Deputy Governor, Banque de France)

Ignazio Visco (Governing Board, Banca d'Italia)

10:15-10:45 Coffee breack

10:45-13:00 The Euro Area and the World Business Cycle

Chair: Benoit Mojon (Banque de France)

"A Simple Framework to Forecast Joint Recession Probabilities over Arbitrary Horizons.pdf", Fabio Fornari* (ECB) and Wolfgand Lemke

Discussant: Spencer Krane (Chicago Fed)

"Business Cycles in the Euro Area", Domenico Giannone* (ECB), Michele Lenza* (ECB), and Lucrezia Reichlin

Discussant: Benoit Mojon (Banque de France)

"What are the External Effects of US Fluctuations.pdf?", Giancarlo Corsetti, Luca Dedola* (ECB) and Sylvain Leduc

Discussant: Emmanuel Farhi (Harvard University)

13:00 End of Conference

OMD 3rd Ed.

Location