ASIA
26 March 2014
Conference on limits of economic surveillance
What are the limits of surveillance and financial market failure? What are the lessons from the euro-area crisis? This is the agenda of a conference in Paris on 23 September 2013.
What are the limits of surveillance and financial market failure? What are the lessons from the euro-area crisis?
This is the agenda of an international conference to be held on Monday 23rd September 2013 at La Maison de l’Europe de Paris, 35 rue des Francs Bourgeois, Paris 4e.
In fact, neither regional surveillance within the European framework nor global surveillance by international institutions such as the IMF and the OECD were effective in preventing such large-scale crises in developed countries. Can more effective surveillance be put in place to prevent their recurrence?
In addition to limits to effective surveillance, the repeated financial crises have shed light on deficiencies in the current prudential and monetary policy frameworks. How should they be changed to secure financial market stability and minimize economy-wide disturbances arising from financial market imbalances while maintaining general price stability at the same time?
After discussion of these issues, not only in the context of the euro area but with a broader global perspective, the seminar will focus on specific policy issues: how (i) to contain, and prevent the future re-emergence of, excessive intra-regional imbalances; and (ii) to achieve greater convergence in the euro area, an indispensable condition of the better management of the euro area. This part of discussion will cover a broader set of political economy and governance issues including coordination of fiscal and structural policies in the euro-area with a single monetary policy.
This international conference will gather first-class economists with rich experience in domestic and international economic and financial policy-making as well as policy advisory work in Europe, the United States and Japan and aims at in-depth discussion of these fundamental issues of our time with a view to finding ways for better management of the euro-area and the global economy more generally.
Further information on the conference can be obtained from the conference website -- see link below.
In addition, the following commentary notes can be found on the conference website:
André Icard: http://office.shigehara.online.fr/en/Icard.pdf
Leif Pagrotsky: http://office.shigehara.online.fr/en/Pagrotsky.pdf
Paul Atkinson: http://office.shigehara.online.fr/en/Atkinson.pdf
Stephen Axilrod: http://office.shigehara.online.fr/en/Axilrod.pdf
William White: http://office.shigehara.online.fr/en/White.pdf
Adrian Blundell-Wignall:
http://office.shigehara.online.fr/en/Adrian.pdf
Charles Goodhart:
http://office.shigehara.online.fr/en/Goodhart.pdf
This is the agenda of an international conference to be held on Monday 23rd September 2013 at La Maison de l’Europe de Paris, 35 rue des Francs Bourgeois, Paris 4e.
What this conference is about？
The euro-area crisis, which erupted only a few years after the outbreak of the global financial and economic crisis originating from the US housing market debacle, has revealed weaknesses in the regional as well as global frameworks for financial and economic crisis prevention.In fact, neither regional surveillance within the European framework nor global surveillance by international institutions such as the IMF and the OECD were effective in preventing such large-scale crises in developed countries. Can more effective surveillance be put in place to prevent their recurrence?
In addition to limits to effective surveillance, the repeated financial crises have shed light on deficiencies in the current prudential and monetary policy frameworks. How should they be changed to secure financial market stability and minimize economy-wide disturbances arising from financial market imbalances while maintaining general price stability at the same time?
After discussion of these issues, not only in the context of the euro area but with a broader global perspective, the seminar will focus on specific policy issues: how (i) to contain, and prevent the future re-emergence of, excessive intra-regional imbalances; and (ii) to achieve greater convergence in the euro area, an indispensable condition of the better management of the euro area. This part of discussion will cover a broader set of political economy and governance issues including coordination of fiscal and structural policies in the euro-area with a single monetary policy.
This international conference will gather first-class economists with rich experience in domestic and international economic and financial policy-making as well as policy advisory work in Europe, the United States and Japan and aims at in-depth discussion of these fundamental issues of our time with a view to finding ways for better management of the euro-area and the global economy more generally.
Further information on the conference can be obtained from the conference website -- see link below.
Acknowledgements
This conference has been initiated as a non-bipartisan, non-political voluntary activity by Kumiharu Shigehara, President of the International Economic Policy Studies Association and former Deputy Secretary-General and chief economist of the Organisation for Economic Co-operation and Development (OECD).Conference documentation
Links to the principal documentation for the conference are in the "REFERENCE" Section below.In addition, the following commentary notes can be found on the conference website:
André Icard: http://office.shigehara.online.fr/en/Icard.pdf
Leif Pagrotsky: http://office.shigehara.online.fr/en/Pagrotsky.pdf
Paul Atkinson: http://office.shigehara.online.fr/en/Atkinson.pdf
Stephen Axilrod: http://office.shigehara.online.fr/en/Axilrod.pdf
William White: http://office.shigehara.online.fr/en/White.pdf
Adrian Blundell-Wignall:
http://office.shigehara.online.fr/en/Adrian.pdf
Charles Goodhart:
http://office.shigehara.online.fr/en/Goodhart.pdf