What’s Wrong with Modern Macroeconomics? - Conference Papers

What’s Wrong with Modern Macroeconomics?

CESifo Conference Centre, Munich
6 - 7 November 2009

Programme

Friday, 6 November 2009

Session I
Chair: Gerhard Illing

09:00 – 09:50 The Roles of Ideology, Institutions, Politics and Economic Knowledge in Forecasting Macroeconomic Developments
ALEX CUKIERMAN (Tel-Aviv University) (via video link)
Discussant: Panu Poutvaara (University of Helsinki)

09:50 – 10:40 Uncertainty, Risk-taking and the Business Cycle
FRANK SMETS (ECB)
Discussant: Camilo E. Tovar

Session II
Chair: Efraim Sadka

11:00 - 11:50 Macroeconomic Agenda: Compare Competing Paradigms and Identify Robust Policy Recommendations
VOLKER WIELAND (Goethe University Frankfurt)
Discussant: Antonio Spilimbergo (IMF)

11:50 – 12:40 Liquidity Constraints and Non-market Clearing: A Recipe for Recession?
John Drifill and MARCUS MILLER (University of Warwick)
Discussant: Jouko Vilmunen (Bank of Finland)  

Session III
Chair: Paul de Grauwe

14:00 – 14:50 Analysis of Monetary Policy and Financial Stability: A New Paradigm
Charles Goodhart, Carolina Osorio and DIMITRI TSOMOCOS (Oxford University)
Discussant: Daniel Gros (Center for European Policy Studies)

14:50 – 15:40 Unemployment Risk and Aggregate Consumption Behaviour
XAVIER RAGOT (Banque de France) and Edouard Challe
Discussant: Efraim Sadka (Tel-Aviv University)

Panel discussion
Moderator: Robert M. Solow
Panellists: Hans Gersbach, Charles Goodhart, Hans-Werner Sinn, Mark Thoma, Martin Wolf 

Saturday, 7 November 2009

Session IV
Chair: Volker Wieland

8:30 – 9:10  Top Down or Bottom Up Macroeconomics
PAUL DE GRAUWE (University of Leuven)
Discussant: Casper de Vries (University Rotterdam)

9:10 – 9:50 The Economic Crisis is a Crisis for Economic Theory
ALAN KIRMAN (G.R.E.Q.A.M.)
Discussant: Mark Thoma (University of Oregon)

9:50 – 10:30 Reconstucting Macroeconomics: More is Different
THOMAS LUX (University of Kiel)
Discussant: Pablo Rovira Kaltwasser (University of Leuven)

Session V
Chair: Hans Gerbach

10:50 – 11:30 The Banking Crisis - Capitalism's Business as Usual
PATRICK MINFORD (Cardiff University)
Discussant: Sebastian Watzka (University of Munich)

11:30 – 12:10 What's Wrong with Modern Macroeconomics? Why its Critics Have Missed the Point
MIKE WICKENS (York University)
Discussant: Hans Dewachter (University of Leuven)

12:10 – 13:00 General Discussion