09.40 - 11.10

Session 1
Monetary Policy

Chair: Joachim Scheide, IfW

Come with me to the Eurosystem
Alexander Jung, Francesco Paolo Mongelli, Philippe Moutot, ECB
The Fed and the ECB: Why such an apparent difference in reactivity?
Grégory Levieuge, Laboratoire d'Economie d'Orléans, UMR CNRS 6221,
Alexis Penot, GATE, University of Lyon, CNRS, ENS-LSH
Ten years of European Monetary Union
David Mayes, Europe Institute, University of Auckland and Bank of Finland,
Matti Viren, Bank of Finland and University of Turku



Discussant: Karl Whelan, University College Dublin


09.40 - 11.10

Session 2

Chair: Stefan Ederer, WIFO



Strength of market discipline: impact on the solvency of European banks
Anissa Naouar, University of Paris X
Bootstrap panel unit root tests and convergence: an application to retail interest rates in the euro area
Alessandra Bettocchi, Silvestro Di Sanzo, Prometeia
Impact of bank competition on the interest rate pass-through in the euro area
Michiel van Leuvensteijn (CPB), Christoffer Kok Sørensen (ECB), Jacob A. Bikker (DNB and University of Utrecht), Adrian A.R.J.M. van Rixtel (Banco de España)


Discussant: Brian Lucey, Trinity College Dublin


09.40 - 11.10

Session 3
Price behaviour in a Monetary Union

Chair: Markku Kotilainen, ETLA


Optimal choice of exchange rate regimes with labour market frictions
Ester Faia, University of Rome at Tor Vergata and Ente Einaudi Institute for Economics and Finance
Impact of some tax policies in a currency union: A DSGE analysis
Benjamin Carton, CEPII
Foreign trade pricing and stability of a monetary union
Ramzi Drissi, THEMA University of Cergy Pontoise



Discussant: Christian Dreger, DIW


11.30- 13.00

Session 4

Chair: Paolo Onofri, PROMETEIA


The impact of EMU on growth in Europe
Ray Barrell, Dawn Holland, Iana Liadze and Olga Pomerantz, NIESR
Current account imbalances in the Euro Area
Alan Ahearne, National University of Ireland, Galway, Birgit Schmitz, University of Bonn, Jürgen von Hagen, University of Bonn, Indiana University, and CEPR
ECB vs. Council vs. Commission: Monetary and fiscal policy interactions in the EMU when cyclical conditions are uncertain
Fabio Balboni, University of Bologna, Marco Buti, Martin Larch, European Commission DG ECFIN



Discussant: Kieran McQuinn, Central Bank and Financial Services Authority of Ireland


11.30- 13.00

Session 5

Chair: Catherine Mathieu, OFCE


Does the single currency affect foreign direct investment? A gravity-like approach
José De Sousa, University of Paris 1 Panthéon-Sorbonne and University of Rennes 2, Julie Lochard, Erudite Paris 12 and University of Paris 1 Panthéon-Sorbonne
Does trade integration contribute to synchronization of economic shocks in Europe?
Peter Mikek, Wabash College
Prices and output comovements: an empirical investigation for the CEECs
Iuliana Matei, University of Paris I Panthéon-Sorbonne



Discussant: Iulia Siedschlag, ESRI


14.00 - 16.00

Session 6
Exchange rates

Chair: Ray Barrell, NIESR


Exchange rate dynamics in monetary union: an empirical assessment
Vladimir Borgy, Banque de France,
Amina Lahrèche-Révil, IMF,
Antonia López Villavicencio, Universitat Autonoma de Barcelona
Does the nominal exchange rate explain the Backus-Smith puzzle? Evidence from the Eurozone
Metodij Hadzi-Vaskov, Utrecht University, Utrecht School of Economics
The real euro-Dollar exchange rate and equity market
Kari Heimonen, University of Jyväskylä,
Juuso Vataja, University of Vaasa



Discussant: Ray Barrell, NIESR


14.00 - 16.00

Session 7
Country experience: inside and outside EMU

Chair: Marek Dabrowski, CASE


The effect of the euro on export patterns: empirical evidence from industry data
Gavin Murphy, Iulia Siedschlag, ESRI
The impact of exchange rate regimes on production structures across countries: the European case
Christian Aubin and Camelia Romocea-Turcu,  University of Poitiers
The euro adoption’s impact on extensive and intensive margins of trade: the Italian case
Sergio de Nardis, Carmine Pappalardo, Claudio Vicarelli, ISAE
The Political Economy under Monetary Union: Has the Euro Made a Difference?
Marcel Fratzscher, Livio Stracca, ECB



Discussant: Alan Ahearne, National University of Ireland, Galway


14.00 - 16.00

Session 8
Wage inflation

Chair: Alan Barrett, ESRI 


Adjustment in EMU: Is convergence assured?
Sebastian Dullien, FHTW Berlin - University of Applied Sciences, Ulrich Fritsche, University Hamburg and DIW Berlin, Ingrid Größl, University Hamburg
Structural reforms and adjustment to shocks in the euro area
Bérengère Junod-Mesqui, Yannick Kalantzis, Treasury and Economic Policy Directorate General, French Ministry of Economics
Inflation targeting and monetary integration under ERM 2: modeling third-country effects from production sharing
Felix Hammermann, Deutsche Bundesbank

The Maastricht inflation criterion: What is the effect of expansion of the European Union?
John Lewis, Netherlands Central Bank, Tallinn University of Technology, Karsten Staehr, Bank of Estonia, Tallinn University of Technology



Discussant: Wim Suyker, CPB


16.20 - 18.20

Round Table

Chair: John Fitz Gerald, ESRI

16.20 -.16.50
Introduction: EMU@10 - successes and challenges after ten years of Economic and Monetary Union
Marco Buti, Paul van den Noord, European Commission DG ECFIN

Philip Lane, IIIS, Trinity College Dublin, and CEPR

Joachim Scheide, IfW

Henri Sterdyniak, OFCE