The objective of this event is to bring distinguished researchers in Macroeconomics in the relaxed and fruitful atmosphere of Salento, the peninsula located in the southernmost region of Apulia, Italy. The Programme Committee welcomes submissions of theoretical or empirical papers addressing issues including (but not limited to):

  • Monetary and Fiscal Policy
  • International macroeconomics
  • Imperfect information
  • Heterogeneity, search and matching

The deadline for paper submissions is 31 March 2019.


The workshop will feature a keynote by Per Krusell (Stockholm University and CEPR), who will discuss his work on the role of economic analysis in combatting climate change. Researchers are invited to submit papers on the economics of commodities (including energy, metals, and agricultural products) and their interaction with the economy.

Papers submission deadline: May 1, 2019. Please send drafts of completed papers to [email protected].

Scientific committee:
Martin Bodenstein (FRB), Deepa Datta (FRB), Marco Lombardi (BIS), Matteo Luciani (FRB), Massimiliano Pisani (Banca d'Italia), Frauke Skudelny (ECB) Livio Stracca (ECB), Martin Stuermer (Federal Reserve Bank of Dallas), Fabrizio Venditti (ECB) Giovanni Veronese (Banca d'Italia), and Robert Vigfusson (FRB).


Submissions are sought on the following themes:
• Digital currencies, fintech, and technology
• Regulation, markets, and financial intermediation
• International economics
• Macroeconomics, monetary policy, macrofinance, monetary policy frameworks, and communication
• Inflation dynamics
• Policy lessons from the history of finance and central banking
The deadline for submissions is Saturday, February 2nd.
The meeting commences on Thursday, July 18 at the FRB New York, featuring presentations by Nellie Liang and Jeremy C. Stein, and John C. Williams.
The 31 contributed sessions take place on Friday and Saturday, July 19-20 at the Kellogg Center, SIPA, Columbia University. Contributed sessions are organized by BIS, FSB, IMF, SNB, FRB St. Louis, Bank of Israel, FRB Cleveland, ECB, Riksbank, FRB San Francisco, Norges Bank, Bank of Spain, Bank of Japan, Bank of Canada, Bank of Korea, OeNB, FRB Minneapolis, Bundesbank, Central Bank of Ireland, SAFE, CEPR, ABFER, and IBRN.


The objective of the Systemic Risk and Prudential Policy course is to present state of the frontier research on systemic risk and to illustrate its implications for micro and macro prudential regulation as well as monetary and competition policy.
The course covers the main models of systemic risk proposed in the literature and the quantitative techniques for the measurement and prediction of systemic risk.

The course provides a critical summary of the prudential regulation initiatives for systemic risk, highlighting the limitations of current prudential policy, the potential of the new macroprudential approach, and the costs and benefits of the proposed policy measures.

Additionally, the course examines the rise of shadow banks, the role of banks as providers of liquidity insurance, and the interaction between securitization and systemic risk.

Simon Wren-Lewis, 20 June 2018

Thorsten Beck, 01 June 2018

Roger Farmer, 11 April 2018


The European Association of Young Economists (EAYE), in collaboration with Leipzig University, is pleased to announce that the 1st EAYE Workshop will take place at Leipzig University on September 10-11, 2018.

Since the Great Recession, research on housing and macroeconomics has become a highly relevant and vibrant research field within macroeconomics. What drives house-price fluctuations? How do pronounced fluctuations in house prices and housing credit affect the real economy? What explains the long run dynamics of house prices? The aim of the workshop is to bring together young economists, as well as a few distinguished senior researchers, that work on these pressing questions and on housing and macroeconomics in general.

We are delighted to announce that two keynote lectures will be given by Alberto Martín (CREI, Universitat Pompeu Fabra, Barcelona GSE, CEPR) and Moritz Schularick (University of Bonn, CEPR).

The submission deadline is June 7, 2018.

Wendy Carlin, David Soskice, 23 January 2018

Following the post-financial crisis recession, the UK and other high-income countries have experienced slow growth and stagnant productivity, along with both low inflation and, more recently, low unemployment. This column introduces an intuitive macroeconomic model that helps explain this puzzling combination.

Fabio Ghironi, 07 December 2017

Most macroeconomists have accepted that their tools need to incorporate more real world phenomena, such as financial intermediation and labor market frictions. Fabio Ghironi discusses the need to incorporate more microeconomics to macroeconomics.

Paul Krugman, 09 October 2017

How did academic macroeconomics evolve? In this video, Paul Krugman explains how macroeconomic models fail to completely explain the events of the last decade. This video was recorded at the "10 years after the crisis" conference held in London, on 22 September 2017.


The Centre for International Macroeconomic Studies (CIMS) in the School of Economics, University of Surrey will hold a five-day Summer School from 4th-8th September, 2017.

The School will consist of two parallel four-day courses (Foundations of DSGE modelling; Advanced DSGE modelling) and four parallel one-day stand-alone courses on day five (Financial Frictions in DSGE Models; DSGE-VAR Models and Forecasting; Occasionally Binding Constraints and Nonlinear Estimation; Emerging Open Economies). Participants can register for all five days, or for only one of the stand-alone one-day courses.

To apply or for further details visit our website: www.surrey.ac.uk/cimssummercourse

Antonio Fatás, Lawrence H. Summers, 12 October 2016

Conventional wisdom on supply and demand suggests that demand shocks are cyclical or transitory, and that only technology shocks are responsible for trend changes. This column argues that cyclical events can have permanent effects on demand, and therefore GDP. It is time for policymakers to start considering the possibility of hysteresis seriously.

Kurt Mitman, Dirk Krueger, Fabrizio Perri, 30 August 2016

Previous research found that income and wealth inequality had little impact on the aggregate dynamics of consumption, investment and output. This reinforced the idea that we can study downturns in the economy using representative agents. This column argues that household inequality affects both the depth of a recession and the welfare losses of those affected by it. Therefore we should explicitly measure and model household heterogeneity when we consider the impact of business cycle fluctuations and the welfare consequences of economic crises.

Mark Cliffe, 19 May 2016

The idea that the global economy has entered a low-growth equilibrium appears to have gained acceptance. This column argues that this ‘New Normal’ never was, isn’t, and should be replaced by the ‘New Abnormal’. Far from being an equilibrium, the low growth recorded in the West since the nadir of the financial crisis in 2009 has only been achieved by progressively more aggressive and unprecedented monetary policy actions in response to a series of panic attacks in the financial markets. The aftershocks of the crisis are colliding with a series of structural changes which leave the global economy in a state of latent instability. 

Volker Grossmann, Thomas Steger, 09 May 2016

The ratio of wealth to income has increased substantially since WWII. Despite the key role of housing wealth in this process, an appropriate macroeconomic model that can explain recent history and assess the future is still lacking. This column presents a novel macroeconomic model designed to investigate the evolution of housing wealth in a growing economy with a fixed overall land supply. A key implication is that rising house and land prices are natural phenomena in a growing economy. Further, rising wealth-to-income ratios appear to be an important trigger for the long-term growth of the finance industry.

Wouter den Haan, Martin Ellison, Ethan Ilzetzki, Michael McMahon, Ricardo Reis, 28 January 2016

The beginning of 2016 has seen dramatic developments in key markets, including falls in share prices, low oil prices, and a slowdown in some emerging market economies. This column summarises the views expressed on these issues by leading experts in the monthly Centre for Macroeconomics survey. While all recognise the considerable uncertainty in the world economy, fewer than a third fear that these events will have a significant negative impact on the UK’s economic recovery. The prevailing argument is that any negative effects of lower foreign demand and market instability will be compensated by the benefits of lower oil prices.



CEPR Policy Research