May 2016



The ADEMU Project held two different workshops in May and below is a summary of the workshops that took place.

Macroeconomic and Financial Imbalances and Spillovers

On April 29-30, the ADEMU Work Package 3 held a workshop at CERGE-EI in Prague. The research in Work Package 3 of the ADEMU project focuses on spillover effects between member states that are caused by shocks to fiscal and financial variables and on the role of international imbalances in macroeconomic and financial variables due to asymmetric patterns of economic interdependence within the euro area and between the EU states. The main subject of the workshop was the extent to which these effects and imbalances have contributed to recent macroeconomic instability and the potential role of macro-prudential regulation.
Read the Full Proceedings of the Workshop

Risk Sharing Mechanisms for the EU

On May 20-21 2016, an ADEMU workshop was held at the European University Institute, organized in collaboration with the International Monetary Fund and the European Stability Mechanism. The workshop aimed to analyze the potentials of risk-sharing mechanisms in the European Union, evaluating existing strategies and discussing new proposals for a more efficient system.

The workshop benefited from the contribution of top economists from the organizing institutions and from a number of other Universities and research institutes (Zurich University of Applied Sciences, London Business School, University of Amsterdam, University Cambridge-INET, New York University, Washington University, Wuhan University, CEPS, Zew), as well as from the EC, the ECB, the Bank of Spain and the Bank of France. The juridical aspects of risk-sharing were also covered, thanks to the contribution of legal scholars.

Thomas Cooley (NYU), Chair of the ADEMU Advisory Committee, shared the following statement with the other members of the Advisory Committee: "The conference was an enormous success because it illustrated the potential of this project to bring together policy makers and researchers from multiple public, transnational agencies and academic researchers from multiple disciplines to discuss a well defined topic."
Read a Summary of the Workshop

 Working Paper Series

The ADEMU Working Paper Series continues to grow with the following papers being an example of what has been added to the series this month:

Exit expectations and debt crises in currency unions?
Kriwoluzky, Müller and Wolf

Does austerity pay off?
Born, Müller and Pfeifer

Fiscal Consolidation in a Disinflationary Environment: Price-vs. Quanity-Based Measure
Pappa, Sajedi and Vella


Upcoming Events


Debt Sustainability, Default and Lending Institutions
September 2-4, 2016 | University of Cambridge. Register here.


Job Creation, Job Destruction and Productivity Growth
October 14-15, 2016 | EUI Florence


ADEMU Lecture
October 10, 2016 | EUI Florence, with René Smits (University of Amsterdam, member of the ADEMU Advisory Committee)
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A Dynamic Economic and Monetary Union (ADEMU) · Ramon Trias Fargas 25-27 · Barcelona, 08001 · Spain

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