June/July 2016


Rounding up the first year of ADEMU

The ADEMU Project started in June 2015 and below we have a look at everything the project has achieved in its first year.

The kick-off conference in Cambridge

On October 8-9, 2015, the ADEMU project held its first conference at the University of Cambridge in order to mark the start of the project. The two-day conference consisted of several presentations from each research line of the project and two round tables about the Fiscal Union of EMU area and its situation in the aftermath of the Greek crisis. Joaquin Almunia, the Former Vice President of the European Commission, was invited as keynote speaker.
Read the coverage of the kick-off conference


Three workshops have taken place as part of the project which have focused on the following areas:

1. Legal and Institutional Dimensions of EMU

2. Macroeconomic and Financial Imbalances and Spillovers

3. Risk Sharing Mechanisms for the EU
On April 19 2015, ADEMU held a mini conference on Macroeconomics of Financial Frictions at the University of Cambridge in association with The Cambridge–INET Institute. It featured three presentations of cutting-edge work on the link between financial frictions and the macroeconomy.
Read the review of the conference

Lectures & Webinars

Nobel laureate in Economics, Robert E. Lucas Jr, delivered a lecture for ADEMU on March 21, 2016 at the European University Institute in Florence, Italy. ADEMU researchers, economists and economics students crowded the room to hear the lecture on “Growth and the Industrial Revolution”.

A lecture was also held on “Fiscal sustainability: What makes the Euro Area different” at the University of Cambridge in March 2016.

The first ADEMU webinar also took place in March 2016 on the topic of  "Learning from the Euro Crisis in order to avoid new ones" and it can be listened to in full by clicking the link.

The most recent webinar took place on July 1st titled "After Brexit: What next for the EMU, EU and UK?" The full recording can also be viewed by clicking on this link.


 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:

Policy spillovers and synergies in a monetary union
Arce, Hurtado and Thomas

The new economic component of EMU: a lawful and effective design

Unemployment (fears) and deflationary spirals
Den Haan, Rendahl and Riegler

Rethinking optimal currency areas
Chari, Dovis and Kehoe

The dark corners of the labour market


Upcoming Events


Debt Sustainability, Default and Lending Institutions
September 2-3, 2016 | University of Cambridge. Register here.


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


ADEMU Lecture
September 20, 2016 | EUI Florence, with Marc Melitz (Harvard University)
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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