International Macroeconomics Programme Meeting

This year's CEPR International Macroeconomics Programme Meeting was held in Perugia from 30 June to 2 July 1990, hosted by the Banca d'Italia. The theme of the meeting was `Financial and Monetary Integration in Europe', and it was organized by Francesco Giavazzi, Professor of Economics at the Università degli Studi di Bologna, and Co-Director of CEPR's research programme in International Macroeconomics. The following papers were presented:
`Financial Intermediation and the Monetary Transmission Mechanism in the World Economy: The Mundell-Fleming Model Revisited', by Vittorio Grilli and Nouriel Roubini (Yale University and CEPR)
`Credibly Fixed Exchange Rates', by Alberto Giovannini (Columbia University and CEPR)
`European Monetary Union or Hard-EMS?', by David Currie, Paul Levine (both of London Business School and CEPR) and Joseph Pearlman (London Business School)
`Competition, Hegemony and Monetary Unification', by Lorenzo Bini Smaghi and Silvia Vori (Banca d'Italia)
`Precommitment to Stability by Central Bank Independence', by Manfred Neumann (Universität Bonn)
`Public Goods in Trading Relationships: On the Formation of Markets and Political Jurisdictions', by Alessandra Casella (University of California, Berkeley, and CEPR) and Jonathan Feinstein (Stanford University)
`Adjustment Difficulties within a European Monetary Union: An Analysis and a Comparison with Alternative Regimes', by Andrew Hughes Hallett (University of Strathclyde and CEPR) and David Vines (University of Glasgow and CEPR)
`Equilibrium Asset Prices with Undiversifiable Labour Income Risk', by Philippe Weil (Harvard University)
`The Empirical Relevance of Credibility and Reputation for the Conduct of Economic Policies', by Axel Weber (Universität Gesamthochschule Siegen and CEPR)
`Exchange Rate Regimes and the Persistence of Inflation', by George Alogoskoufis (Birkbeck College, London, and CEPR)
Exchange Rate Regimes: The Role of the Exchange Rate
and the Implications for Wage-Price Adjustment', by David Begg (Birkbeck College, London, and CEPR)
`Output, Inflation and the ERM', by Donald Robertson (London Business School) and James Symons (LSE)
`The Politics of Intergenerational Redistribution' by Guido Tabellini (University of California, Los Angeles, and CEPR)
`Self-fulfilling Debt Runs and Debt Management', by Alessandro Prati (Banca d'Italia)
`The High Unemployment Trap', by Gilles Saint Paul (MIT)
`Valuation of Nominal Securities', by Silverio Foresi (University of California, Los Angeles)
The meeting also included a roundtable discussion on `The Transition to EMU', chaired by Tommaso Padoa Schioppa (Banca d'Italia). The participants were Rudiger Dornbusch (MIT and CEPR), David Currie, Alberto Giovannini, and Luigi Spaventa (Università degli Studi di Roma, `La Sapienza', and CEPR)