Keeping you updated with the ADEMU Project

                                                    January 2016

Is the European banking system more systemic than before the crisis?

This month, we review a current topic related to the research that is being carried out on the ADEMU project and look at it through the eyes of one of the project researchers. 

Joachim Jungherr, who is a researcher for the ADEMU work package on macroeconomics and financial imbalances and spillovers, reviews publications of the European Systemic Risk Board to discuss recent developments in the European banking system and what this means for the future of the banking system in Europe. Watch video 


Working Groups encourage knowledge exchange 

Working groups of researchers and Ph.D. students who are involved in the ADEMU project, have recently been created with the aim of encouraging an exchange of knowledge on different themes. Topics have included Marginal Product of Capital across European Regions, The Heterogeneous Effects of Government Spending and Fiscal Transfers in a Monetary Union with Sovereign Risk. Read more

ADEMU Events

Macroeconomic Imbalances and Spillovers Workshop 

This workshop addresses the extent to which (i) spillover effects between member states caused by shocks to fiscal and financial variables, and (ii) international imbalances in macroeconomic and financial variables caused by asymmetric patterns of economic interdependence have contributed to recent macroeconomic instability especially in the financial and banking sectors in the European Union. The workshop will also look at how far mechanisms should seek to control these spillovers and imbalances. The aim is to bring together the best existing and on-going theoretical and empirical research on these issues.

This ADEMU workshop will take place April 29-30 at
CERGE-EI in Prague, Czech Republic and it is being organized by CERGE-EI, in collaboration with the Barcelona GSE. We are inviting papers and (extended) abstracts to be submitted by February 15, 2016 to Radim Bohacek (Subject: ADEMU WP3 Workshop). Details of the workshop and call for papers can be found here.

Risk-Sharing Mechanisms for the European Union Workshop  

This workshop aims to address questions such as: how to improve risk-sharing without becoming a ‘transfer union’ or creating moral-hazard problems? How should European risk-sharing mechanisms interact with existing national mechanisms, or with existing crisis prevention mechanisms, such as the European Stability Mechanism? Shouldn’t a flexible Growth and Stability Pact – together with the ESM – be sufficient to absorb idiosyncratic shocks? Which additional fiscal, or monetary, policies and institutions should be adopted to address EMU aggregate shocks? To what extent can banking union and capital market integration help risk-sharing, and what policies are needed to ensure they help? The workshop will focus on facts, models and policy and institutional (including legal) designs to implement efficient risk-sharing mechanisms in the European Union.

This ADEMU workshop will take place May 20-21 at EUI in Florence and is being organized by European University Institute in collaboration with the Fiscal Affairs Department of the International Monetary Fund and the European Stability Mechanism. We are inviting papers and (extended) abstracts to be submitted by February 15, 2016 to: Margherita Fabbri (Subject: ADEMU Risk-Sharing Workshop). 
Details of the workshop and call for papers can be found here.
Upcoming Events:
March 21: 1st ADEMU Lecture on Growth and the Industrial Revolution held by Robert E. Lucas Jr (University of Chicago). EUI, Florence, Italy

April 19: Conference on Monetary and Debt Policy in the Euro area. University of Cambridge, UK

April 29-30: Workshop on Macroeconomic Imbalances and Spillovers. CERGE, Prague, Czech Republic

May 20-21: Workshop on Risk Sharing Mechanisms for the EU. EUI, Florence, Italy

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