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01/10/2015 - 02/10/2015 : Conference on “The Post-Crisis Slump”

Berlaymont Building, room Walter Hallstein
Organised by DG ECFIN of the European Commission, the European Economic Review, CAEPR, Indiana University and ECARES (Université Libre de Bruxelles)


Thursday, October 1, 2015 
Live webstream, day 1

9:00 - 9:50Harald Uhlig (University of Chicago)
"Accounting for Post-Crisis Inflation and Employmentpdf(549 kB)", Chiara Fratto, University of Chicago
Discussant: Raf Wouters, National Bank of Belgium
9:50-10:40Jonas Arias (Federal Reserve Board)
"The Macroeconomic Risks of Undesirably Low Inflationpdf(401 kB)", Mathias Trabandt, Federal Reserve Board; Christopher Erceg, Federal Reserve Board
Discussant: Bartosz Mackowiak (ECB)
10:40-11:10 Coffee
11:10-12:00Werner Roeger (DG ECFIN, European Commission)
"The Post-Crisis Slump in the Euro Area and the US: Evidence from a Three-Country Estimated DSGE Modelpdf(933 kB)", Robert Kollmann (ECARES, Université Libre de Bruxelles and CEPR) ; Beatrice Pataracchia (European Commission, Joint Research Centre); Rafal Raciborski (European Commission, DG ECFIN); Marco Ratto (European Commission, Joint Research Centre); Lukas Vogel (European Commission, DG ECFIN)
Discussant: Guenter Coenen (ECB)
12:00-13:00 Keynote Lecture
Gianluca Benigno (London School of Economics)
"Stagnation Trapspdf(446 kB)" (co-authored with Luca Fornaro, CREI, Universitat Pompeu Fabra)
14:10-15:00 Andrea De Michelis (Federal Reserve Board)
"Raising an Inflation Target: the Japanese Experience with Abenomicspdf(282 kB)" (with Matteo Iacoviello, Federal Reserve Board)
Discussant: Keith Kuester (University of Bonn)

Gernot Mueller (University of Tuebingen)
"Deleveraging, Deflation and Depreciation in the Euro Areapdf(850 kB)" (with Dmitry Kuvshinov, University of Bonn; Martin Wolf, University of Bonn)
Discussant: Tommaso Monacelli (Bocconi University)

16:10-17:00 Sebnem Kalemli-Ozcan (University of Maryland)
"Debt Overhang in Europe: Evidence from Firm-Bank-Sovereign Linkagespdf(562 kB)" (with Luc Laeven, European Central Bank; and David Moreno, University of Maryland)
Discussant: Michael Thiel (EU Commission)
17:00-17:50 Andrea Ferrero (University of Oxford)
"Demographics and Real Interest Rates: Inspecting the Mechanismpdf(513 kB)" (with Carlos Carvalho, PUC Rio; Fernanda Nechio, Federal Reserve Bank of San Francisco)
Discussant: Michael Krause (University of Cologne)
19:00-22:00Conference dinner (authors and discussants)


Friday, October 2, 2015
Live webstream, day 2

9:00-9:50Egon Zakrajsek (Federal Reserve Board)
"The Macroeconomic Impact of Financial and Uncertainty Shockspdf(2 MB)"
(with Dario Caldara, Federal Reserve Board; Cristina Fuentes-Albero, Federal Reserve Board; and Simon Gilchrist, Boston University)
Discussant: Johannes Pfeifer (University of Mannheim)

John Fernald (Federal Reserve Bank of San Francisco)
"The Pre-Global-Financial-Crisis Slowdown in Productivitypdf(924 kB)"
(with Gilbert Cette, Banque de France; Benoit Mojon, Banque de France)
Discussant: Robert Inklaar (University of Groningen)


11:00-11:50Peter McAdam (European Central Bank)
‘Structural Reforms For Inclusive Growth? Empirical Evidence from the OECD’
(with Livio Stracca, European Central Bank)
Discussant: Lukas Vogel (EU Commission)

Christoph Trebesch (University of Munich)
"Politics in the Slump: Polarization and Extremism after Financial Crises, 1870-2014pdf(812 kB)"
(with Manuel Funke, Free University of Berlin; Moritz Schularick, University of Bonn)
Discussant: --

13:40-14:30Jesper Lindé (Riksbank)
"Fiscal Consolidations Under Imperfect Credibilitypdf(414 kB)", Matthieu Lemoine, Banque de France)
Discussant: Rigas Oikonomou (Université Catholique de Louvain)

Huixin Bi (Federal Reserve Bank of Kansas City)
"Debt-Dependent Effects of Fiscal Expansionspdf(361 kB)" (with Wenyi Shen, Oklahoma State University; and Shu-Chun Yang, National Sun Yat-Sen University and IMF)
Discussant: Ethan Ilzetzki (LSE)

15:35-16:25Alexander Kriwoluzky (University of Halle)
"Monetary-Fiscal Policy Interaction and Fiscal Inflation: A Tale of Three Countriespdf(787 kB)"
(with Martin Kliem, Bundesbank; Samed Sarferaz, University of Zurich)
Discussant: Guido Ascari (Oxford)

Time allocation—authors: 20 min; discussants: 20 min; floor: 10 min.

Practical arrangements: read/downloadpdf(2 MB)

Conference organisers:
Robert Kollmann (ECARES, Université Libre de Bruxelles)
Eric Leeper (University of Indiana)
Werner Roeger (DG ECFIN, European Commission)
Live webstreams: day 1, day 2

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