The European Union’s recovery plan has been adopted in response to the coronavirus crisis. It is a game changer in terms of European economic policy integration: NextGenerationEU is larger than any other stimulus package passed by the EU in previous crises. Together with the EU’s long-term budget a total of EUR 1.8 trillion will be spent to boost and modernize Europe’s economy with major priorities set in the areas of digitalization and climate change. The recovery package will also be financed by commonly issued debt. Finding the right balance between expansionary fiscal policy and budgetary discipline will be a key challenge in the upcoming years.
While the European recovery fund sets new precedents, it is only a temporary instrument. What lessons can the EU take away? Is Europe’s fiscal framework prepared for other future crises? This question will be at the heart of our EconPol Europe Annual Conference 2021 which – for the fifth time – will bring together our expert network members from across Europe with politicians, policymakers, and researchers. A decision on whether to meet in person in Brussels or online will be made in the course of the summer.
Clemens Fuest, President of ifo Institute, will open and close the conference.
Our topic in the panel discussion on day one is “Fiscal Policy for the Post-Covid Era – US vs. EU”. Our panelists will shed light on different policy answers to the coronavirus crisis. While the EU’s fiscal policy response is unprecedented, the US has been implementing a much larger fiscal stimulus package. Should the EU have stepped up its fiscal response? Or does the US’s expansive relief package bear higher risks, such as hyperinflation? Another key question concerns whether the money allocated to EU member states will be spent efficiently to finance growth-enhancing reforms. Panelists confirmed so far are Olivier Blanchard (MIT), Debora Revoltella (European Investment Bank), Claudia Sahm (Jain Family Institute) and Maarten Verwey (European Commission). Details on further speakers will follow. The discussion will be moderated by Maithreyi Seetharaman (Facultas Media).
Day two of our conference will have an academic focus. We will host several conference sessions where researchers from the EconPol Europe network will present their latest research and discuss it with experts from national and European institutions and the private sector. Topics include Economic Growth and Climate Change, International Taxation and other current research from the EconPol network. Further details on these panels can be seen in our program below.
Watch this space for the latest news on our conference.
13 October 2021, hosted by Maithreyi Seetharaman
|12:45||Welcome from Maithreyi Seetharaman|
|12:50||Welcome address, Clemens Fuest (President ifo Institute, EconPol Europe)|
|13:00||Keynote speech: The State of Fiscal Resilience - How Prepared is Europe for Future Crises?|
Panel Discussion: Fiscal Policy for the Post-Covid Era - US vs. EU
Olivier Blanchard (Senior Fellow at the Peterson Institute for International Economics)
Debora Revoltella (Director of the Economics Department, EIB)
Claudia Sahm (Senior Fellow, Jain Family Institute)
Maarten Verwey (Director-General DG ECFIN at the European Commission)
Plenary Session: Governance and Macroeconomic Policy in the European Monetary Union
Daniel Gros (CEPS & EconPol Europe): Title to be advised
Alexandre Ounnas (CEPS): “Labor Market Responses to the Covid-19 Crisis in the United States and Europe” (with Daniel Gros)
Beau Soederhuizen (CPB): “Optimal Capital Ratios for Banks in the Euro Area” (with Bert Kramer, Gerrit Hugo Van Heuvelen and Rob Luginbuhl)
Klaus Weyerstrass (IHS & EconPol Europe): “Fiscal Policies in the Corona Crisis – a Macroeconomic Assessment”
|17:30||Closing remarks from Maithreyi Seetharaman|
14 October 2021, Academic Sessions
|09:00||Welcome from Clemens Fuest|
Panel 1 - Attitudes and Perceptions
Sebastian Blesse (ZEW): “Attitudes Towards Science When Its Results (Don’t) Confirm People’s Priors” (with Philipp Lergetporer)
Dirk Foremny (Universidad de Barcelona): “Living at the Peak: Health and Public Finance during the Covid-19 Pandemic” (with Pilar Sorribas-Navarro, Judit Vall Castelló)
Lisa Windsteiger (Max Planck Institute): “Attitudes Towards Private and Public Debt” (with Cevat Aksoy, Mathias Dolls and Andreas Peichl)
Panel 2 – International Taxation: Pillar 1 - Introduction of the Destination Principle
Chair: Martin Simmler (Oxford University Centre for Business Taxation & EconPol Europe)
Richard Collier (University of Oxford): “Comparing proposals to tax some profit in the market country” (with Michael Devereux and John Vella)
Marko Koethenburger (ETH Zurich): “Taxation of digital platforms”
Florian Neumeier (ifo Institute): “Impact of Pillar 1 on tax revenues in Germany” (with Clemens Fuest, Felix Hugger and Daniel Stoehler)
Following their presentations the researchers will engage in a panel discussion with Giorgia Maffini (PwC) and Bert Zuijdendorp (Head of Company Taxation Initiatives Unit at European Commission)
Panel 3 – International Taxation: Pillar 2 - The End of the Race to the Bottom?
Chair: John Vella (Oxford University)
Irem Guceri (Oxford University): “Investing in tax avoidance after Pillar 2”
Tibor Hanappi (OECD): “OECD’s economic impact assessment of Pillar 2”
Martin Simmler (Oxford University): “Tax competition and the location of real activity”
Following their presentations the researchers will engage in a panel discussion with Danny McCoy (CEO IBEC)
Panel 4 – Public Policy for a Green Transition
Antonia Díaz (Universidad Carlos III de Madrid): “CO2 Emissions and Energy Technologies in Western Europe” (with J. Barrera-Santana, Gustavo A. Marrero and Luis A. Puch)
Marita Laukkanen (VATT): Title to be advised
Ted Loch-Temzelides (Rice University): “Scrapping, Renewable Technology Adoption, and Growth” (with Bernardino Adao and Borghan Narajabad)
|17:00||Closing remarks from Clemens Fuest|
This program is preliminary and subject to change