Rethinking the European Fiscal Framework
Rethinking the European Fiscal Framework
Workshop organised by the European Fiscal Board, in collaboration with CEPR and ACES
Charlemagne Building, Rue de la Loi 170, 1000 Bruxelles, Belgium
Friday 28 February 2020, Brussels
Video Recording: https://webcast.ec.europa.eu/rethinking-the-european-fiscal-framework
The full set of papers, presentations and videos is now available on the European Fiscal Board's (EFB) website https://ec.europa.eu/info/business-economy-euro/economic-and-fiscal-policy-coordination/european-fiscal-board-efb/rethinking-european-fiscal-framework_e
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Register here
The experience with the current European fiscal framework is at best mixed, as the European Fiscal Board has shown in its recent evaluation report of the EU fiscal rules. Indeed, there is substantial discussion about how they could be best revised. This workshop revisits the EU fiscal rules. However, it also takes a broader view of EU arrangements by exploring the case for a central fiscal capacity and “blue sky arrangements” based on a complete overhaul of the current fiscal framework.
PROGRAMME
08.30 - 09.00 Registration
09.00 - 09.15 Welcoming remarks by Roel Beetsma | Member, European Fiscal Board and CEPR
09.15 – 09.30 Keynote address by Paolo Gentiloni | European Commissioner for Economy
Chair: Niels Thygesen | Chair, European Fiscal Board
Session 1 European fiscal rules (speakers 25 min., discussant 15 min., floor 15 min.)
Chair: Cláudia Braz | Central Bank of Portugal
09.30 - 11.15 'Consistent Flexibility: Enforcement of Fiscal Rules Through Political Incentives’
Eckhard Janeba | University of Mannheim
‘Do EU Fiscal Rules Support Counter-cyclical Fiscal Policy? The Importance of Institutional Reform’
Martin Larch | Head of Secretariat, European Fiscal Board
‘Performance of spending rules at the EU level – a quantitative assessment’
Gilles Mourre | European Commission
Discussant: Philippe Martin | Professor Science Po and CEPR
11.15 – 11.40 Coffee break
Session 2 Central Fiscal Capacities (speakers 25 min., discussant 15 min.; floor 15 min.)
Chair: Jeromin Zettelmeyer | International Monetary Fund and CEPR
11.40 – 13.25 'An Unemployment Re-Insurance Scheme for the Eurozone? Stabilizing and Redistributive Effects’
Mathias Dolls | Ifo Institute and CESifo
'On the Design of a European Unemployment Insurance System’
Ramon Marimon | European University Institute and CEPR
‘On a fiscal capacity for the euro area’
Lars Feld | German Council of Economic Advisors & University of Freiburg
Discussant: Agnès Bénassy-Quéré | Paris School of Economics
13.25 - 14.40 Lunch break
Session 3 Blue-sky proposals (speaker 40 min., discussants 10 min.; floor 15 min.)
Chair: Lucrezia Reichlin | London Business School and CEPR
14.40 – 15.55 ‘Revisiting the EU fiscal framework in an era of low interest rates’
Keynote address by Olivier Blanchard | Peterson Institute for International Economics and CEPR
Discussants: Clemens Fuest (President CESifo) and Thomas Wieser (Bruegel)
15.55 - 17.05 Panel Discussion: Rethinking the EU Fiscal Framework
Jean Pisani-Ferry (Moderator) | Sciences-Po and EUI
Lucrezia Reichlin (10 min) | London Business School and CEPR
Mateusz Szczurek (10min) | Member of the European Fiscal Board
Guido Tabellini (10min) | University of Bocconi and CEPR
Beatrice Weder di Mauro (10 min) | CEPR
Olivier Blanchard | Peterson Institute for International Economics and CEPR
17.05 - 17.20 Concluding remarks by Massimo Bordignon | Member of the European Fiscal Board