Macroeconomics Workshop “The Euro Crisis: Where Do We Stand?”

Friday October 16th, 2015, Strasbourg

The University of Strasbourg, the Bureau of Economic Theory and Applications (BETA-CNRS, UMR 7522) and the ERMEES research team are delighted to announce a one-day workshop on macroeconomic issues raised by the euro crisis, to be held on Friday October 16th, 2015 in Strasbourg.

This workshop aims at providing some perspectives on the current crisis in the eurozone from a macroeconomic point of view.
As a matter of fact, the euro crisis is not only due to financial causes. Several macroeconomic imbalances have played a major role in the burst and in the deepening of the euro crisis. These factors have been magnified by an incomplete monetary architecture and are the underlying causal mechanisms of the euro crisis. Among these contributing factors, we can quote exchange rate misalignments, inflation rate differentials, housing markets dynamics and private sector indebtedness.

The aim of this workshop is to produce high quality debates in which macroeconomists will explore the consequences of the euro crisis. We invite the submission of papers on various topics related to the euro crisis; both empirical and theoretical papers are welcome. All presentations and discussions will be in English. Paper topics include:

  •  Fiscal Policy, Public Finance Sustainability, Fiscal discipline
  • Monetary Policy, Monetary and Financial Integration
  • External Imbalances (Current Account Balances, Exchange Rates)
  • Exit Strategies and Support to Growth
  • Labor Markets in Crisis
  • Green Growth and Sustainable DevelopmentKeynote speaker: Ansgar Belke (Institute of Business and Economic Studies, University of Duisburg-Essen), Paul de Grauwe (European Institute, London School of Economics), Gunther Schnabl (Institute for Economic Policy, University of Leipzig).Publication opportunities: The participants of the workshop are invited to submit their works to a special issue of Brussels Economic Review (http://www.dulbea.org/BER). The submission procedure will be specified after the workshop.
Local organization



Scientific Committee

  • Moïse Sidiropoulos (BETA, University of Strasbourg),
  • Amélie Barbier-Gauchard (BETA, University of Strasbourg),
  • Francesco de Palma (BETA, University of Strasbourg),
  • Giuseppe Diana (LARGE, European Court of Auditors, University of Strasbourg),
  • Jamel Saadaoui (BETA, University of Strasbourg).

Local Committee

  • Amélie Barbier-Gauchard (BETA, University of Strasbourg),
  • Francesco de Palma (BETA, University of Strasbourg),
  • Marine André (BETA, University of Strasbourg),
  • Thierry Betti (BETA, University of Strasbourg),
  • Thomas Coudert (LARGE, University of Strasbourg),
  • Nicolas Mazuy (BETA, University of Strasbourg),
  • Jamel Saadaoui (BETA, University of Strasbourg).

Conference venue

The workshop will be held in the European Doctoral College, 46 Boulevard de la Victoire, 67000 Strasbourg, France. This link explains how to get to the College.

Contact : saadaoui@unistra.fr


Submission Procedure


  • Before April 15th, 2015: Full papers or abstracts (300 to 500 words) should be submitted by email to ermees@unistra.fr. Papers should mention: title of communication, name(s) of the author(s), affiliation, corresponding author’s e-mail address, postal address, telephone number.
  • By June 15th, 2015: Authors will be informed of the decision of the scientific committee.
  • By July 15th, 2015: Please confirm your participation to the parallel session before July 15th.
  • By September 15th, 2015: Full papers must be sent before September 15th in order to have high quality discussions. In any case, the final draft must be sent before October 2nd.
Workshop Program

Macroeconomics Workshop

« The Euro crisis: where do we stand? »

Friday October 16th, 2015 Strasbourg

Location:  Collège doctoral européen, 46 boulevard de la Victoire, 67000 Strasbourg, France

8:30 – 9:00 Registration & welcome coffee (Jardin Intérieur – First floor)
9:00 – 09:15 Opening Speech

09:15 – 10:15 Plenary Session I
Ansgar BELKE, IBES, University of Duisburg-Essen
The Specter of a Grexit
(Room: Amphithéatre - Ground floor)

10:15 – 10:45 Coffee break  (Jardin Intérieur – First floor)

10:45 – 13:00 Parallel Sessions I
Session I-1 - Exit Stratégies and support to Growth 
Chairman : Jamel SAADAOUI
(Room: Amphithéatre - Ground floor)

  •  Catherine MATHIEU.  and Henri STERDYNIAK, OFCE, “How to Manage the Euro Area?” Discussant: Hanno DIHLE.
  • Giovanni DOSI, Mauro NAPOLETANO, Andrea ROVENTINI and Tania TREIBICH. , University ofMaastricht, “The Short- and Long-Run Damages of Fiscal Austerity: Keynes beyond Schumpeter.” Discussant: Henri STERDYNIAK.
  • Hanno DIHLE. , Stefanie FLOTHO and Rafael MENTGES, University of Freiburg, “Economic Policy Uncertainty and Investment in the Euro Crisis.” Discussant: Mauro NAPOLETANO
  • Oxana BABECKÁ KURCHAR˘CUKOVÁ, Peter CLAEYS and Boˇrek VAŠI ˘CEK. , Czech National Bank, “Spillover of the ECB’s Monetary Policy Outside the Euro Area: How Different is Conventional From Unconventional Policy?” Discussant: Catherine MATHIEU.
Session I-2 - European Policy-Mix  
Chairman: Athanasios P. PAPADOPOULOS
(Room: Auditorium- Ground floor)
  • António AFONSO.  and Luís MARTINS, University of Lisbon, “Monetary Developments and Expansionary Fiscal Consolidations.” Discussant: Jean-Bernard CHATELAIN.
  • Jean-Bernard CHATELAIN.  and Kirsten RALF, Paris School of Economics, “Determinacy and Identification with Optimal Policy.” Discussant: Moïse SIDIROPOULOS.
  • Nicolas MAZUY.  and Moïse SIDIROPOULOS, University of Strasbourg, “Heterogeneous Effect on SingleMonetary Policy in Eurozone Countries: an Empirical Evidence to Justify Fiscal Transfers?” Discussant: António AFONSO.
  • Vivien DJIAMBOU, UCL, “Impact of Government Debt During Financial Market Stress on the Rise of Bond Spreads : An Empirical Evidence Based onDynamic Panel Threshold Regressions.” Discussant: NicolasMAZUY.
Session I-3 - Labor Market in Crisis
Chairman : Francesco DE PALMA
(Room: Salle de Séminaire - First floor)
  • Florence HUART.  and Médédé TCHAKPALLA, University of Lille 1, “Labour mobility in the Euro area during the great recession”. Discussants: Thierry BETTI.
  • Thomas COUDERT, University of Strasbourg, “Inflation Persistence and Bargain Firing Cost.” Discussant: Julia BACHTRÖGLER.
  • Thierry BETTI, University of Strasbourg, “Assessing the Effect of Public Expenditure Shocks on the LaborMarket in the Euro Area.” Discussant: Florence HUART.
  • Julia BACHTRÖGLER, Vienna University of Economics and Business, “Regional Heterogeneity in Labour Markets, Institutional Quality and Sectoral Structures, and the Absorption of EU Structural Funds.” Discussant: Thomas COUDERT.

13:00 – 14:45 Lunch break   (Jardin Intérieur – First floor)

14:45 – 17:00 Parallel Sessions II
Session II-1 - External Imbalances
Chairman: Thomas COUDERT
(Room: Amphithéatre - Ground floor)
  • Alessandro BARATTIERI, Collegio Carlo Alberto and ESG UQAM, “Asymmetric Trade Liberalizations and Current Account Dynamics.” Discussant: Robert UNGER.
  • Robert UNGER, Deutsche Bundesbank, “Asymmetric Credit Growth and Current Account Imbalances in the Euro Area.” Discussant: Mariarosaria COMMUNALE.
  • Mariarosaria COMUNALE, Bank of Lithuania, “Euro-Dollar Polarization and Heterogeneity in Exchange Rate Pass-ThroughWithin the Euro Zone.” Discussant: Jamel SAADAOUI.
  • Vincent DUWICQUET, Jacques MAZIER and Jamel SAADAOUI. , University of Strasbourg, “Interest Rates, Eurobonds and Intra-European Exchange Rate Misalignments: the Challenge of Sustainable Adjustments in the Eurozone.” Discussant: Alessandro BARATTIERI.
Session II-2 - Fiscal Policy, Public Finance Sustainability
Chairman : Thierry BETTI
(Room: Auditorium- Ground floor)
  • Werner ROEGER, Lukas VOGEL. , European Commission, “Do Fiscal Transfers Strengthen Risk Sharing in Monetary Union? a Model-Based Analysis.” Discussant: Christos MAVRODIMITRAKIS.
  • Etienne FARVAQUE and Florence HUART. , University of Lille 1, “Unemployment Insurance System Design for the Euro Area: Where DoWe Stand?” Discussant: Lukas VOGEL.
  • Christos MAVRODIMITRAKIS, University of Athens, “Country-Specific Debt Stabilization and the Common Monetary Policy in a Monetary Union: a Strategic Analysis.” Discussant: Paolo D’IMPERIO.
  • Paolo D’IMPERIO, Sapienza University of Rome, “Risk Sharing towards the European Fiscal Union.” Discussant: Thierry BETTI.
Session II-3- Monetary Policy and Financial Integration
Chairman : Moise SIDIROPOULOS 
(Room: Salle de Séminaire - First floor)
  • Ralf FENDEL and Christina STROBACH. , De Nederlandsche Bank, “Regional Information and Euro Area Monetary Policy: a Generalized Ordered Choice Approach.” Discussant: Olena OGROKHINA.
  • Olena OGROKHINA. ,María José LUENGO-PRADO and Bent E. SØRENSEN, Lafayette College, “Price Adjustment During the Great Recession Inside and Outside the Eurozone.” Discussant: Christina STROBACH.
  • Matteo BONDESAN, University of Turin, “The Bank Lending Channel in Monetary Transmission in the Euro Area: Evidence from Bayesian VAR Analysis.” Discussant: Marine ANDRÉ.
  • Marine ANDRÉ.  and Meixing DAI, University of Strasbourg, “Central Bank Accountability Under Adaptive Learning.” Discussant: Matteo BONDESAN.

17:00 – 17:30 Coffee break

17:30 – 18:30 Plenary Session II
Gunther SCHNABL, Institute for Economic Policy, University of Leipzig 
The New Normal in the EuropeanMonetary Policy
(Room: Amphithéatre - Ground floor)
18:30 – 18:45 Closing remarks and information about special issue.
20:00 – Conference dinner (Bateaux de l’Ill)

Macroeconomics Workshop “The Euro Crisis : Where Do We Stand ?” (Strasbourg) will take place at Collège Doctoral Européen (CDE), located in the campus of University of Strasbourg.

Collège Doctoral Européen

46 Boulevard de la Victoire, 67000 Strasbourg

03 68 85 17 13

  • By Train:

From Train Station (Gare Centrale): Take the tram C into the direction “Neuhof Rodolphe Reuss” and stop at the station “Observatoire”. Please, see city Map.

  • Taxi Information:

The company taxi 13 Phone: + 33 (0)3 88 36 13 13


  • From Entzheim Airport:

From Strasbourg-Entzheim Airport: Take the train from the airport to the central Train Station, for further informations www.sncf.fr . Take the tram C into the direction “Neuhof Rodolphe Reuss” and stop at the station “Observatoire”.

  • From Karlsruhe Baden Airpark:

Take Bus line 205 to Baden-Baden Train station and take the train to Strasbourg Gare Centrale. Shuttles are also available from Baden-Baden Airpark to Strasbourg – Place Austerlitz (see http://www.flightliner.de)

  • Other possibilities:

From Basel-Mulhouse Airport or Frankfurt International Airport with correspondence by train or bus to Strasbourg

  • Further details about public transport:

Compagnie des Transports Strasbourgeoise :


  • Support and Assistance:

In case of troubles or urgent help is needed, please contact one of the organizers:

Tel: +33 (0)3 68 85 20 78 (Amélie Barbier-Gauchard)

Tel: +33 (0)3 68 85 21 79 (Jamel Saadaoui)

Tel: +33 (0)3 68 85 20 69 (Secretary)


You will find here different ways to book a room.

1 quai de Paris, Strasbourg
Tél : 03 88 15 17 17
Fax : 03 88 15 17 15
E-Mail : h9085@accor.com

Hôtel de France, BEST WESTERN***
20 rue du Jeu des Enfants, Strasbourg
Tél : 03 88 32 37 12
Fax : 03 88 22 48 08
E-Mails : hotel@francestrasbourg.com ; Hotel.de.france.sa@wanadoo.fr
Website : www.book-your-hotel.com

HOTEL MERCURE Strasbourg Seant-Jean Petite France
3, rue du Maire Kuss, Strasbourg
Tél : 03 88 32 80 80
Fax : 03 88 23 05 39
E-Mail : h1813@accor.com

2 rue Thiergarten, Strasbourg
Tél : 03 88 32 71 88
Fax : 03 88 32 22 01
E-Mail : contact@grillon.com

14 rue du Maire Kuss, Strasbourg
Tél : 03 88 22 60 40
Fax : 03 88 32 22 25
E-Mail : h6850@accor.com

Hôtel de L’ILL**
8 rue des Bateliers, Strasbourg
Tél : 03 88 36 20 01
Fax : 03 88 35 30 03
Website : www.hotel-ill.com

14 rue du Maire Kuss, Strasbourg
Tél : 03 88 22 60 40
Fax : 03 88 32 22 25
E-Mail : h6850@accor.com

Appart’Hôtel CITADINES Strasbourg Kléber
50 54 rue du Jeu des Enfants, Strasbourg
E-Mail : strasbourg@citadines.com