Servicio de Información Comunitario sobre Investigación y Desarrollo - CORDIS

A Dynamic Economic and Monetary Union

Desde 2015-06-01 hasta 2018-05-31, proyecto en curso

Detalles del proyecto

Coste total:

EUR 2 499 999

Aportación de la UE:

EUR 2 499 999

Coordinado en:

Italy

Convocatoria de propuestas:

H2020-EURO-SOCIETY-2014See other projects for this call

Régimen de financiación:

RIA - Research and Innovation action

Objetivo

Deliverables

  • Dissemination of Working Papers I

    Dissemination of Working Papers I The dissemination of the Working Papers will be a constant activity through the project, with the on-line ADEMU Working Papers depository. Furthermore, the ADEMU webpage will highlight their main results and policy prescriptions. The deliverables will summarize the corresponding work, keeping track of the impact and additional publications coming out of the WPs.

  • Dissemination of the results of the Take-off Conference

    Dissemination of the results of the Take-off Conference, which will include a leaflet explaining the ADEMU project

  • Workshop 1.1

    Input to MS3 and MS8 Summary of the outcome of the Workshop on Fiscal Consolidation and Fiscal Risk-sharing in the EU which is expected to take place in the first year

  • Dissemination of the results of Workshops I

    Dissemination of the results of the Workshops I The dissemination of the ADEMU events will also be a constant activity through the project. On a yearly basis the work on the dissemination of Workshops and Policy Forums will be summarized as a deliverable

  • Workshop 3.1

    Input to MS3 Summary of the outcome of the Workshop on Macro-Financial Imbalances which is expected to take place in the first year.

  • Working papers first draft WP4

    Input to MS2 and MS8 1. Analysis of the conditions posed to legal change in reaction to the Eurozone crisis at both EU and national level (analyzing the relevant issues at EU and national level, as well as the profound interconnections between the two). This will identify varieties of practice as well as possibly the best practice under Objective 1 [TB, BdW, CF, CK, GM] 2. Analysis of the legal aspects of economic governance after the crisis (analyzing the legal implications of the various economic findings for the multilateral surveillance system, macroeconomic imbalances procedure, and excessive deficit procedure). This will feed into EMU policy reviews under Objective 1 [TB, BdW, CF, CK, GM] 3. Analysis of legal aspects of risk-sharing mechanisms (analyzing the legal implications of the various economic findings on for example a Financial Stability Fund and mutualization of debt). This will feed into policy proposals under Objective 1 [TB, BdW, CF, CK, GM] 4. Analysis of legal aspects of a banking union (analyzing the legal implications of the various economic findings on for example optimal design of banking supervision, the independence of the European Central Bank, and the coordination of banking policies). This will feed into policy reviews under Objective 1 [TB, BdW, CF, CK, GM] 5. A cross-country study of the fiscal effects of political tenure on budgetary policies in Objective 2 [AM] 6. Trade-offs between efficiency and political power as banks grow larger in Objective 2 [DL, AM, SM]. 7. Experimental evidence on the effects of political constraints on public debt management in Objective 3 [DL, MC] 8. The effects of productivity and wealth asymmetries on the resilience of cooperation: New experimental evidence in Objective 3 [DL, MC] Preliminary versions of the working papers will be delivered within 12 months. To be discussed in a wokshops The final version will be delivered within 34 months.

  • Working papers first draft WP2

    Input to MS2 1. Policy credibility and the design of optimal common currency areas under Objective 1 [PK] 2. Benefits from fiscal policy coordination within a currency union under a zero lower bound for interest rates under Objective 1 [GM] 3. Fiscal policy coordination, fiscal risk-sharing arrangements and tax havens in a monetary union under Objective 1 [PT] 4. On the limitations of using SVARs to estimate fiscal multipliers under Objective 2 [AM, PF] 5. How does the size of fiscal multipliers depend on the composition of public expenditure cuts ? under Objective 2 [EP] 6. How do preferences regarding consumption and leisure affect the channels through which fiscal multipliers operate in the economy ? under Objective 2 [MD, FV] 7. Recessions as liquidation periods: The size of fiscal multipliers under limited coordination ? under Objective 2 [FP] 8. On the aggregate consequences of uninsurable idiosyncratic income and employment risk for macroeconomic dynamics under Objective 3 [HL, PR; MR, VS] 9. The effects of demand shocks on technology adoption, job turnover and sectorial composition in dual labour markets under Objective 3 [JD] 10. The determining factors of households´ wealth composition in EU countries and its response to financial shocks under Objective 3 [CB, TH, HS] 11. On the optimal job-tenure profile of dismissal costs and the role of a single contract under Objective 3 [JD] 12. On the time- consistency problems of reforming unemployment insurance in the presence of precautionary savings under Objective 3 [SK] Preliminary versions of the working papers will be delivered within 12 months. To be discussed in a wokshops The final version will be delivered within 34 months.

  • Working papers first draft WP1

    Input to MS2 1. Comparative Analysis of the Euro-area financial and economic crisis from a historical perspective under Objective 1 [GC, CT] 2. Income inequality consequence of financial crisis under Objective 1 [LF] 3. The Role of uncertainty and incomplete information in the transmission and amplification of financial shocks under Objective 1 [RU, CH] 4. Balance -Sheet Risk Assessment of Sovereign Debt under Objective 1[JvH] 5. Quantitative analysis of belief-driven debt crises under Objective 1[ PT] 6. Incomplete markets and the optimal level of public debt under Objective 2 [PG] 7. Optimal public debt management policy in monetary unions under Objective 2 [PK, MB] 8. Interaction among economic reforms, private wealth and debt sustainability in an aging society under Objective 2 [GC, CT] 9. Time-consistent institutional design of debt- stabilisation schemes in Europe under Objective 2 [CB] 10. The effects of different income tax reforms under incomplete markets and endogenous borrowing constraints under Objective 2 [AA] 11. The effects of social norms inflation on tax compliance and government revenue under Objective 2 [JC] 12. Optimal transfer schemes against asymmetric shocks in a monetary union under limited enforcement and moral hazard under Objective 3 [AA, MK, EP] 13. On the Optimal design of a Financial Stability Fund under Objective 3 [RM, AA (with E. Carceles)] 14. The mutualisation of short-term European debt under information frictions and limits to arbitrage in financial markets: Trade-offs between fiscal discipline and international liquidity provision under Objective 3 [CH] 15. Debt default and asset pricing with heterogeneous information under Objective 3 [CH] A preliminary version of the working papers will be delivered within 12 months to be discussed in Workshops. The final version will be delivered within 34 months (see D.1.2)

  • Working papers first draft WP3

    1. Estimating the time-varying magnitude cross-border spillover effects of fiscal shocks in the Euro area under alternative methodological approaches under Objective 1 [FC, LG] 2. Volatility spillovers, contagion and the dynamics of financial-asset spreads under Objective 1 [PH] 3. The role of credit default swap (CDS) markets in the interconnecting euro area financial markets and sovereign default risk under Objective 1 [RP] 4. Liquidity and sovereign-bank interlinkages under Objective 1 [WC] 5. Bank size and net lending positions in money markets under Objective 1 [HR] 6. Analysis of the potential role of ‘credit-easing’ policies to improve financial conditions in times of high when economic uncertainty under Objective 2 [RM] 7. The effects of asymmetries in regulation across countries on the build-up of macroeconomic imbalances in the EU under Objective 2 [JJ] 8. Leverage bounds for optimal regulation in the financial markets of the EU and the Banking Union under Objective 2 [RB]. 9. The role of bank transparency and strategic competition among intermediaries as determinants of financial stability under Objective 2 [JJ] 10. Revisiting the pros and cons of narrow banking in the EU under Objective 2 [RM] 11. Macro-prudential regulations as an alternative to capital controls in achieving monetary policy autonomy under Objective 2 [RP] Preliminary versions of the working paper versions will be delivered within 12 months to be discussed in workshops. The final version will be delivered within 34 months.

Publications

  • The Dark Corners of the Labor Market
    Author(s): Sterk, Vincent
    Published in: ADEMU Working Paper Series, issue WP2016/010, 2016. 
  • Rethinking Optimal Currency Areas
    Author(s): Chari, V.V.; Dovis, Alessandro; Kehoe, Patrick
    Published in: ADEMU Working Paper Series, issue WP2016/009, 2016. 
  • Exit expectations and debt crises in currency unions
    Author(s): Kriwoluzky, Alexander; Wolf, Martin; M??ller, Gernot J.
    Published in: ADEMU Working Paper Series, issue WP2016/005, 2016. 
  • Does Austerity Pay Off?
    Author(s): Born, Benjamin; Müller, Gernot J.; Pfeifer, Johannes
    Published in: ADEMU Working Paper Series, issue WP2016/004, 2016. 
  • Bank opacity and financial crises
    Author(s): Jungherr, Joachim
    Published in: ADEMU Working Paper Series, issue WP2016/002, 2016. 
  • Unemployment (Fears) and Deflationary Spirals
    Author(s): Den Haan, Wouter J.; Rendahl, Pontus; Riegler, Markus
    Published in: ADEMU Working Paper Series, issue WP2016/008, 2016. 
  • Breaking the Spell with Credit-Easing: Self-Confirming Credit Crises in Competitive Search Economies
    Author(s): Gaballo, Gaetano; Marimon, Ramon
    Published in: ADEMU Working Paper Series, issue WP2016/001, 2016. 
  • Fiscal consolidation in a disinflationary environment: price vs. quantity-based measures
    Author(s): Sajedi, Rana; Vella, Eugenia; Pappa, Evi
    Published in: ADEMU Working Paper Series, issue WP2016/003, 2016. 
  • Policy Spillovers and Synergies in a Monetary Union
    Author(s): Arce, Óscar; Hurtado, Samuel; Thomas, Carlos
    Published in: ADEMU Working Paper Series, issue WP2016/006, 2016. 
  • The new economic component of EMU: a lawful and effective design?
    Author(s): Kilpatrick, Claire
    Published in: ADEMU Working Paper Series, issue WP2016/007, 2016. 

Coordinador

EUROPEAN UNIVERSITY INSTITUTE
Italy

Aportación de la UE: EUR 466 031


Via dei Roccettini 9
50014 FIESOLE
Italy
Activity type: Higher or Secondary Education Establishments

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Participantes

THE CHANCELLOR, MASTERS AND SCHOLARS OF THE UNIVERSITY OF CAMBRIDGE
United Kingdom

Aportación de la UE: EUR 314 645


TRINITY LANE THE OLD SCHOOLS
CB2 1TN CAMBRIDGE
United Kingdom
Activity type: Higher or Secondary Education Establishments

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RHEINISCHE FRIEDRICH-WILHELMS-UNIVERSITAT BONN
Germany

Aportación de la UE: EUR 280 490


Regina Pacis Weg 3
53113 BONN
Germany
Activity type: Higher or Secondary Education Establishments

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FONDATION JEAN-JACQUES LAFFONT,TOULOUSE SCIENCES ECONOMIQUES
France

Aportación de la UE: EUR 284 712


ALLEE DE BRIENNE, Manufacture des Tabacs 21
31000 TOULOUSE
France
Activity type: Research Organisations

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UNIVERSITY COLLEGE LONDON
United Kingdom

Aportación de la UE: EUR 233 288


GOWER STREET
WC1E 6BT LONDON
United Kingdom
Activity type: Higher or Secondary Education Establishments

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UNIVERSIDADE CATOLICA PORTUGUESA
Portugal

Aportación de la UE: EUR 229 540


Rua Palma de Cima
1649-023 Lisboa
Portugal
Activity type: Higher or Secondary Education Establishments

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FUNDACIO PRIVADA BARCELONA GRADUATE SCHOOL OF ECONOMICS
Spain

Aportación de la UE: EUR 436 278


CALLE RAMON TRIAS FARGAS 25 27
08005 BARELONA
Spain
Activity type: Higher or Secondary Education Establishments

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Univerzita Karlova v Praze
Czech Republic

Aportación de la UE: EUR 255 015


Ovocny trh
116 36 Prague 1
Czech Republic
Activity type: Higher or Secondary Education Establishments

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