Source: European Central Bank (video statements)
Source: European Central Bank (video statements)
Session 4 on geopolitical tensions and fiscal implications of war on the second day of the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.
Chair: Era Dabla-Norris, International Monetary Fund
The price of war
Jonathan Federle, Kiel Institute for the World Economy, together with André Meier, Gernot Müller, Moritz Schularick
Discussant: João Monteiro, Einaudi Institute for Economics and Finance
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0
Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html
Source: European Central Bank (video statements)
Session 4 on geopolitical tensions and fiscal implications of war on the second day of the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.
Chair: Era Dabla-Norris, International Monetary Fund
The offensive power of defense news in Europe
Evi Pappa, University Carlos III of Madrid, together with Nadav Ben Zeev and Elena Scola Gagliardi
Discussant: Ethan Ilzetzki, London School of Economics
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0
Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html
Source: European Central Bank (video statements)
Closing remarks by Era Dabla-Norris, International Monetary Fund, at the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.
The conference took place on 04 and 05 December 2025.
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0
Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html
Source: European Central Bank (video statements)
Session 3 on perceptions of public debt and fiscal narratives on the second day of the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.
Session chair: Oreste Tristani, European Central Bank
Inspecting the macroeconomic effects of fiscal policies in the EU through a new dataset of narrative measures
Roberto Perotti, Bocconi University, together with Mario Alloza, Francesco Berardini, Jacopo Cimadomo, Niamh Dunne, Jan Kuckuck and Luca Sala
Discussant: Massimo Giuliodori, University of Amsterdam
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0
Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html
Source: European Central Bank (video statements)
Session 3 on perceptions of public debt and fiscal narratives on the second day of the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.
Session chair: Oreste Tristani, European Central Bank
Perceptions of public debt and policy expectations: evidence from cross-country surveys
Francesco Bianchi, Johns Hopkins University, together with Era Dabla-Norris and Salma Khalid
Discussant: Eric Mengus, HEC Paris
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0
Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html
Source: European Central Bank (video statements)
Session 1 on fiscal stagnation and sovereign risk on the first day of the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.
Session chair: Oscar Arce, European Central Bank
Sovereign default and the decline in interest rates
Jessica Wachter, University of Pennsylvania, together with Max Miller and James Paron
Discussant: Eugenia Gonzalez-Aguado, Toulouse School of Economics
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0
Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html
Source: European Central Bank (video statements)
Welcome remarks by Oscar Arce, European Central Bank, on the first day of the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0
Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html
Source: European Central Bank (video statements)
Session 1 on fiscal stagnation and sovereign risk on the first day of the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.
Session chair: Oscar Arce, European Central Bank
Fiscal stagnation
Luca Fornaro, Centre de Recerca en Economia Internacional (CREI), together with Martin Wolf
Discussant: Xavier Debrun, Nationale Bank van België/Banque Nationale de Belgique
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0
Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html
Source: European Central Bank (video statements)
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