10th BIS Annual Conference 2011 - Fiscal policy and its implications for monetary and financial stability
23-24 June 2011, Palace Hotel, Lucerne, Switzerland
The proceedings of the conference were published in December 2011.
Programme
| Thursday 23 June | ||
| 13:45 | Opening remarks by Stephen Cecchetti (BIS) (paper, presentation) | |
| 14:00 | Session 1: | The risks and challenges of long-term fiscal sustainability |
| Chair: | Øystein Olsen (Central Bank of Norway) | |
| Author: | Alan Auerbach (University of California, Berkeley) "Long-term fiscal sustainability in major economies" (paper, presentation) |
|
| Discussants: | Pier Carlo Padoan (OECD) (presentation) Ray Barrell (NIESR) (presentation) |
|
| 16:00 | Session 2: | The effects of fiscal consolidation |
| Chair: | Stefan Ingves (Sveriges Riksbank) | |
| Author: | Roberto Perotti (Universitá Bocconi) "The 'Austerity Myth': Gain without pain?" (paper and presentation) |
|
| Discussants: | Carlo Cottarelli (IMF) (paper) Harald Uhlig (University of Chicago) (presentation) |
|
| 19:00 | Keynote lecture | Martin Feldstein (Harvard University/NBER) (paper) |
| Friday 24 June | ||
| 08:00 | Session 3: | Fiscal policy and financial stability |
| Chair: | Patrick Honohan (The Central Bank of Ireland) | |
| Author: | Carmen Reinhart (Peterson Institute for International Economics) "The Liquidation of Government Debt" (paper and presentation) |
|
| Discussants: |
Ignazio Visco (Bank of Italy) (presentation) |
|
| 10:00 | Session 4: | Fiscal policy and inflation |
| Chair: | Prasarn Trairatvorakul (Bank of Thailand) | |
| Author: |
Eric Leeper (Indiana University) |
|
| Discussants: | Christopher Sims (Princeton University) (presentation) Michael Bordo (Rutgers University) (presentation) |
|
| 11:45 | Session 5: | Fiscal policy challenges in EMEs |
| Chair: | Axel Weber (The University of Chicago Booth School of Business) | |
| Author: | Andrés Velasco (Harvard Kennedy School) (presentation) "Was this time different? - Fiscal policy in commodity republics" (paper and presentation) |
|
| Discussants: | Choongsoo Kim (Bank of Korea) (presentation) Guillermo Calvo (Columbia University) (presentation) |
|
| 15:00 | Panel discussion | "Fiscal policy sustainability and implications for monetary and financial stability" |
| Chair: | Jaime Caruana (BIS) (paper) | |
| Panellists: |
José De Gregorio (Central Bank of Chile) (paper) |
|