The Economic Journal, the Banque de France, the Euro Area Business Cycle Network and the Paris School of Economics will host a conference on “Fiscal and Monetary Policy in the Aftermath of the Financial Crisis”.
The conference will be held in Paris on December 8-9, 2011.
Maison des Sciences Economiques
106 - 112 boulevard de L’Hôpital
75013, Paris.

Organizers : Florin Bilbiie (Paris School of Economics and CEPR) ; Matthieu Bussière (Banque de France) ; Wouter den Haan (London School of Economics and CEPR) ; Elisa Faraglia (Cambridge University and CEPR) and Albert Marcet (Institut d’Anàlisi Econòmica CSIC, ICREA, BGSE and CEPR).
The conference organizers gratefully acknowledge the financial support of : Ile-de-France, DIMeco program.

• Potential participants must register in advance by sending an email to : eabcn-conference univ-paris1.fr

Download the complete program (as of 14th Nov) in pdf

Thursday 8 December

8:45-9:00 – Welcome and Opening Remarks
Topic 1 : Fiscal Policy Multipliers and Reaction Functions - Session chair : TBA

• 09:00-09:45 « Public Debt Dynamics and Tax and Spending Multipliers : A Bayesian Approach » by Gauti Eggertsson (Federal Reserve Bank of New York), Sophia Gilbukh (Federal Reserve Bank of New York) and Matthew Denes (University of Pennsylvania)
  Discussant : Bartosz Mackowiak (European Central Bank)
• 09:45-10:30
  « Fiscal Austerity with Fiscal Feedback and Real Balance Effects » by Morten Ravn (University College London and CEPR) and Karel Mertens (Cornell University)
  Discussant : Matthieu Bussiére (Banque de France)
• 10:30-11:00 Coffee Break

Topic 2 : Fiscal Consolidation - Session chair : TBA

• 11:00-11:45
  « Sovereign risk and the effects of fiscal retrenchment in deep recessions » by Giancarlo Corsetti (Cambridge University and CEPR), Keith Kuester (Federal Reserve Bank of Philadelphia), Andre Meier (IMF) and Gernot J. Müller (Universität Bonn and CEPR)
  Discussant : Antonio Fatas (INSEAD)
• 11:45-12:30
  « Uncertain Fiscal Consolidations », by Huixin Bi (Bank of Canada), Eric Leeper (Indiana University) and Campbell Leith (University of Glasgow)
  Discussant : Alan Sutherland (University of St. Andrews)
• 12:30-14:30 Lunch break

Topic 3 : Public Debt : Expectations and Sustainability - Session chair : TBA

• 14:30-15:15
  « Financial Market Expectations, Debt and Monetary Policy » by Stefano Eusepi (Federal Reserve Bank of New York) and Bruce Preston (Columbia University)
  Discussant : Martin Ellison (University of Oxford)
• 15:15-16:00
  « Debt Sustainability With (or without) Growth » by Leandro Andrian (IADB), Julian Kozlowski (IADB and Universidad Torcuato Di Tella) and Alessandro Rebucci (IADB)
  Discussant : Jean Imbs (Paris School of Economics)
• 16:00-16:30 Coffee Break

Topic 4 : Fiscal Policy and Financial Markets - Session chair : TBA

• 16:30-17:15
  « Borrowers, Savers, and Public Debt » by Florin O. Bilbiie (Paris School of Economics, University Paris I Panthéon-Sorbonne and CEPR), Tommaso Monacelli (Università Bocconi, IGIER and CEPR) and Roberto Perotti (Università Bocconi, IGIER, CEPR and NBER)
  Discussant : Gernot J. Müller (University of Bonn and CEPR)
• 17:15-18:00
  « Household Leverage and Fiscal Multipliers » by Javier Andres (Universitat de València), José E. Boscá (Universitat de València) and Javier Ferri (Universitat de València)
  Discussant : Xavier Ragot (Banque de France and Paris School of Economics)

20:00 Dinner : Restaurant Les Fontaines Saint Honoré, 196, rue Saint-Honoré 75001 Paris.

Friday 9 December

Topic 5 : Sovereign Debt Risk and Default - Session chair : TBA

• 09:00-09:45
  « Optimal Sovereign Debt Default » by Klaus Adam (Universität Mannheim) and Michael Grill (Universität Mannheim)
  Discussant : Julien Matheron (Banque de France)
• 09:45-10:30
  « The Impact of Government Debt Maturity on Inflation » by Elisa Faraglia (Cambridge University and CEPR), Albert Marcet (Institut d’Anàlisi Econòmica CSIC, ICREA, BGSE and CEPR), Rigas Oikonomou (HEC Montreal) and Andrew Scott (London Business School and CEPR)
  Discussant : Pedro Teles (Bank of Portugal and Catholic University of Lisbon)
• 10:30-11:00 Coffee Break

Topic 6 : Monetary and Macroprudential Policy - Session chair : TBA

• 11:00-11:45 « Macroprudential Regulation Versus Mopping Up After the Crash » by Anton Korinek (University of Maryland) and Olivier Jeanne (Johns Hopkins University)
  Discussant : Philippe Bachetta (HEC Lausanne, Banque de France and PSE)
• 11:45-12:30 « Monetary Policy and Rational Asset Pricing Bubbles » by Jordi Galí (CREI, Universitat Pompeu Fabra, CEPR and NBER)
  Discussant : Pierre-Olivier Gourinchas (UC Berkeley, Visiting Paris School of Economics & Sciences Po)
• 12:30-14:30 Lunch break
  14:30-16:00 Policy Panel