(1er février) Policy Panel « The monetary-fiscal policy mix strikes back - which lessons for Europe ? »
La Chaire Banque de France - PSE a le plaisir de vous inviter à un policy panel en ligne (Webex) sur le lancement du 23e rapport de Genève sur l’économie mondiale :
The monetary-fiscal policy mix strikes back - which lessons for Europe ?
Date : Le 1er février 2021, de 16h à 17h30
Le policy panel se tiendra en ligne (Webex).
- Pour y assister, inscrivez-vous via le formulaire en ligne.
- Télécharger le rapport associé (en pdf) :
It’s All in the Mix : How Monetary and Fiscal Policies Can Work or Fail Together - Télécharger les présentations associées par :
Elga Bartsch
Dirk Niepelt
Charles Wyplosz
Pour se remettre des effets de la pandémie de COVID-19, l’Europe a un besoin urgent de politiques macroéconomiques expansionnistes. Au même moment, les niveaux sans précédent de la dette publique réduisent les possibilités d’expansion budgétaire, et les taux d’intérêt nominaux proches de zéro rendent la politique monétaire traditionnelle inopérante. Comment les politiques macroéconomiques peuvent-elles contribuer à ramener l’Europe sur la voie d’une croissance soutenue et stable ? Un récent rapport de Genève sur l’économie mondiale affirme que, pour répondre à cette question, nous devons reconsidérer la manière dont les politiques monétaire et budgétaire fonctionnent et sont efficaces ensemble, alors que les deux ont une marge de manœuvre limitée. Les auteurs reviennent sur la théorie classique du policy-mix, à moitié oubliée à l’époque de la politique monétaire axée sur le ciblage de l’inflation, et soulignent les principales leçons à tirer pour le XXIe siècle. Dans cette première édition du Policy Panel de la Chaire Banque de France - PSE, les auteurs du rapport discutent de leurs conclusions au sujet de la coordination des politiques monétaire et budgétaire en Europe avec des experts en la matière.
MODÉRATEUR :
Tobias Broer is a Professor at the Paris School of Economics and at the University Paris 1 Panthéon-Sorbonne, and Research Affiliate at CEPR. He is also the Director of the Banque de France - PSE Chair. Before joining the Chair, he worked at the Bank of England, the Central Bank of Chile, and Stockholm University. His work focuses on Macroeconomic Theory and International Macroeconomics and has been published in major international and European academic journals.
PANÉLISTES :
Elga Bartsch, PhD, is Head of Economic and Markets Research at the BlackRock Investment Institute. She is also a member of the ECB Shadow Council and a trustee of the IFO Institute for Economic Research. She was previously Global Co-Head of Economics and Chief European Economist at Morgan Stanley in London. She has more than 20 years of macro research experience, and has served on and chaired the Economic and Monetary Policy Committee of the German Banking Association.
Agnès Bénassy-Quéré is a Professor of Economics (on leave) at University Paris 1 Panthéon-Sorbonne and at the Paris School of Economics. She has been serving as Chief Economist of the French Treasury since 2020. Previously, she worked for the French Ministry of Finance, before moving to academic positions at the universities of Cergy-Pontoise, Lille II, Paris-Ouest and Ecole Polytechnique. She is a member of the Bruegel board and a CEPR Associate Fellow.
Giancarlo Corsetti (Ph.D. Yale, 1992) is Professor of Macroeconomics at Cambridge University, fellow of Clare College, and theme coordinator in the Cambridge INET Institute. He has previously taught at the European University Institute in Florence, as Pierre Werner Chair, and the Universities of Rome III, Yale and Bologna. He is a leading scholar in international economics and open macro with pioneering contributions on currency, financial and sovereign crises, monetary and fiscal policy in open economy, and the international transmission and global imbalances. He is a research fellow of the Centre for Economic Policy Research, where he served as co-director of the International Macroeconomic Programme between 2004 and 2015.
Olivier Garnier is Director General for Statistics, Economics and International at Banque de France and a member of the Banque de France Executive Committee. Before joining Banque de France in September 2017, he was the Group Chief Economist of Société Générale and a member of the Group’s General Management Committee. Previously, he has served as a member of the Economic Advisory Council to the French Prime Minister and as Economic Adviser to the French Finance Minister, and has been an economist at the US Federal Reserve Board in Washington DC.
Dirk Niepelt is Director of the Study Center Gerzensee, Professor at the University of Bern, President of the Swiss Society of Economics and Statistics and Research Fellow at CEPR. Prior to joining the Study Center, he was Assistant Professor at the Institute for International Economic Studies (IIES) at Stockholm University. His research and teaching covers macroeconomics, international economics, and public finance, and he frequently contributes to the public debate.
Charles Wyplosz is Emeritus Professor at the Graduate Institute in Geneva where he was Director of the International Centre for Money and Banking Studies. Previously, he has served as Associate Dean for Research and Development at INSEAD, as Director of the PhD program in EHESS and as Policy Director of the CEPR. His main research areas include financial crises, European monetary integration, fiscal policy and regional monetary integration. He has served as consultant to many international organizations and governments and is a frequent contributor to public media.