The underwhelming global post-crisis growth performance – determinants, effects and policy implications
Welcome and Opening Remarks
by Césaire Meh
Session 1: Long-Term Macroeconomic Trends and Developments
Chair: Césaire Meh
The Shadow Rate of Interest, Macroeconomic Trends, and Time-Varying Uncertainty
Presentation: Elmar Mertens and Benjamin Johannsen
Discussant: Bruno Feunou
Demographic Structure and Macroeconomic Trends
Presentation: Henrique Basso, Yunus Aksoy, Tobias Grasl and Ron Smith
Discussant: Henry Siu
Keynote Presentation
Chair: Livio Stracca
Secular Stagnation on the Supply Side: US Productivity in the Short and Long Run
Presentation: Robert Gordon
Session 2: Global Liquidity and Cross-Border Linkages
Chair: Eric Santor
Global Liquidity, House Prices and the Macroeconomy: Evidence from Advanced and Emerging Economies
Presentation: Alessandro Rebucci, Ambroglio Cesa-Bianchi and Luis Felipe Cespedes
Discussant: Filipa Sa
Effects of US Quantitative Easing on Emerging Market Economies
Presentation: Saroj Bhattarai, Arpita Chatterjee and Woong Yong Park
Discussant: Garima Vasishtha
Session 3: Productivity, Labor and Trend Growth
Chair: Bernd Schnatz
Labor Reallocation and Productivity Dynamics: Financial Causes, Real Consequences
Presentation: Enisse Kharroubi, Claudio Borio, Christian Upper and Fabrizio Zampolli
Discussant: Paloma López-Garcia
Towards Recoupling? Assessing the Global Impact of a Chinese Hard Landing through Trade and Commodity Price Channels
Presentation: Ludovic Gauvin and Cyril Rebillard
Discussant: Vanessa Smith
Panel Discussion
Moderator: Stephen Murchison
Panel
Carmen Reinhart
Gauti Eggertsson
Gilles Noblet
Timothy Lane
Session 4: The Role of Leverage and Banks
Chair: Michael Ehrmann
Debt Overhang, Rollover Risk and Investment in Europe
Presentation: Sebnem Kalemli-Özcan, Luc Laeven and David Moreno
Discussant: Evren Damar
Leveraged Bubbles
Presentation: Òscar Jordà, Moritz Schularick and Alan Taylor
Discussant: Joshua Gottlieb
Foreign Banks and Macroeconomic Fluctuations: Evidence from Financially Intergrated Emerging Markets
Presentation: Süheyla Özyildirim and Zeynep Önder
Discussant: Alistair Dieppe