23 Nov 2022

Scarring, hysteresis, and investment in Europe

From 23/11 08:00 till 24/11 12:00
Auditorium 2
Verversdijk, Campus de Bruges

PROGRAMME                                                                                                 DAY 1 – 23 NOVEMBER 2022

08.00 – 10.00                   

09:40 – 10:10                 

Welcome by Prof. Dr. Beatrice DUMONT (CoE, University Sorbonne Paris) and Prof. Dr. Peter CLAEYS (CoE)


10:10 – 11.00                    
KEYNOTE ADDRESS Maarten Verwey (Director-General, Economic and Financial Affairs, European Commission)
[Title To Be Announced]


11.00 – 12:45                    
SESSION A:  Scarring and Hysteresis (chair: Peter Claeys)

1.The scarring effects of deep contractions
David Aikman (King’s College London), Mathias Drehmann (BIS), Mikael Juselius (Bank of Finland), Xiaochuan Xing (Yale University)

2.Scarring effects of major economic downturns: the role of fiscal policy and government investment
Martin Larch (Secretariat European Fiscal Board), Peter Claeys (College of Europe), Wouter Van der Wielen (European Investment Bank)

3.Fiscal policy and public debt anchor in a behavioural macroeconomic model
Thierry Betti, Amelie Barbier-Gauchard, Théo Metz (Université de Strasbourg)


12.45 – 14:20                     LUNCH


14:20 – 15:30                   
KEYNOTE SPEECH Prof. Dr. Andrea ROVENTINI (Professor, Scuola Sant’Anna, Scuola Universitaria Superiore Pisa)
'Negative and positive hystereses: results from the Schumpeter meeting Keynes agent-based model'.


15:30 – 15:45                     COFFEE BREAK


15:45 – 18:15                    
SESSION B: Investment and Scarring (chair: Martin Larch)

1.Building the Education Revolution: The Employment Effects of Fiscal Stimulus in Australia
 Juha Tervala (University of Helsinki) and Timothy Watson (Australian National University)

2.Public and private investment in European regions
  Andrea Brasili (European Investment Bank), Giorgio Musto (European Investment Bank), Annamaria Tueske (European Investment Bank)

3.Can the ageing-driven decline in growth be stopped by investment in automation technologies?
  Arthur Jacobs (Universiteit Gent), Freddy Heylen (Universiteit Gent)


18:15 – 19:15                   
KEYNOTE SPEECH Dr. Valérie CERRA (IMF Assistant Director)
'Recovering growth in a new economic order'.

19:45 – 21:30                    DINNER

                                                                                                                                                     DAY 2 – 24 NOVEMBER 2022


08:30 – 09:40                   
Policy Panel (breakfast)

Béatrice DUMONT (CoE, University Sorbonne Paris)

Lorenzo CODOGNO (CoE, LSE)

Emily SINNOTT (European Investment Bank)



09:50 – 11:30                   
SESSION C: Macro policies and Scarring (chair: Wouter Van der Wielen)

1.Risk Sharing and Monetary Policy Transmission
Sebastian Hauptmeier (ECB), Federic Holm-Hadulla (ECB), and Théodore Renault (Graduate Institute)

2.Changing Patterns of Risk-Sharing Channels in the Euro Area and the United States
Jacopo Cimadomo (European Central Bank), Massimo Giuliodori (University of Amsterdam), Andras Lengyel (University of Amsterdam) and Haroon Mumtaz (Queen Mary University of London)

3.Searching for hysteresis
Luca Benati (University of Bern), Thomas A. Lubik (Federal Reserve Richmond)


11:30 – 11:45                   
CLOSURE Dr. Martin Larch: Head of Secretariat European Fiscal Board, Visiting Professor at College of Europe, Bruges Campus
'Conclusion & Final Remarks'.


12:00 – 13:00                     LUNCH & FAREWELL






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