Conference report: Macroeconomic Cooperation and the International Monetary System

11/11/2013

Watch the Full video of the public panel

 

Introduction

While the International Financial Institutions came together in Washington for their annual meetings in early October the Foundation of European Progressive Studies (FEPS) in cooperation with the Initiative for Policy Dialogue (IPD) and with the support of the Ford Foundation and the Center for American Progress (CAP) brought world-leading economists together to ‘Macroeconomic Cooperation and the International Monetary System’.

The timing could have not been better and the issues not more pressing. Five years after the Global Financial Crisis the world economy is still struggling to return to sustainable growth. This latest crisis has renewed interest on the need and the importance to reform the global financial and monetary architecture. International policy coordination, debt crisis management, participation in global economic governance, and the choice of means of payments in cross-border transactions are increasingly seen as crucial issues to create a global economic environment where global stability and growth take centre stage.

Conference Background

On October 8th 2013 FEPS in collaboration with the Initiative for Policy Dialogue (IPD) at Columbia University, and with the support of the Ford Foundation and the Center for American Progress (CAP) organised a conference on Macroeconomic Cooperation and the International Monetary System. The conference addressed three fundamental issues:

  1. Global macro-economic cooperation;
  2. How to reform the international monetary systems to contribute to world economic growth;
  3. European macro-economic governance.

The objective of the conference was to discuss the role and challenges of macro-economic cooperation in a world of independent monetary and fiscal policies.

The conference started with a welcome dinner discussing the role of macro-economic cooperation in restoring growth a US perspective. Joseph Stiglitz, Co-President of the Initiative for Policy Dialogue, Jason Furman, Chair Council of Economic Advisers in the US, and Massimo D’Alema, President of FEPS and former Prime Minister of Italy provided food for thought.

The conference had three high-level panels and a public debate. The first panel focused on Global macro-economic cooperation. This panel was introduced by Homi Kharas, Senior Fellow of Brookings Institution. Speakers included: Joseph Stiglitz, Co-President of the Initiative for Policy Dialogue, Olivier Blanchard, Chief Economist, International Monetary Fund, Amar Bhattacharya, Director, G24 Secretariat, and Adam Posen, President, Peterson Institute of International Economics

The second panel concentrated on how to reform the international monetary system to contribute to world economic growth. The panel was introduced by John Williamson, Senior Fellow at Peterson Institute for International Economics. Speakers included: Anton Korinek, Assistant Professor of Economics, Johns Hopkins University, Jose Antonio Ocampo, Co-President, Initiative for Policy Dialogue, Eswar Prasad, Senior Professor of Trade Policy, Cornell University, Heidemarie Wieczorek- Zeul, member of the Bundestag and former Minister for Economic Cooperation and Development of Germany.

The third panel discussed European macro-economic governance. The panel was chaired by Ernst Stetter, Secretary General of FEPS. Speakers included Malcolm Sawyer, Emeritus Professor of Economics, Leeds University Business School, Paolo Guerrieri, Professor of Economics, University of Rome, Stephany Griffith-Jones, Financial Markets Programme Director, Initiative for Policy Dialogue, and Marcus Miller, Professor of Economics, University of Warwick, UK.

The day was closed by a public panel chaired by Professor Stephany Griffith-Jones. Guest speakers included: Joseph Stiglitz, Co-President of the Initiative for Policy Dialogue, Adam Posen, President, Peterson Institute of International Economics, Jose Antonio Ocampo, Co-President of the Initiative for Policy Dialogue, and Massimo D’Alema, President of FEPS and former Prime Minister of Italy

Full video of the public panel can be found online:

https://www.americanprogress.org/events/2013/09/30/75631/macroeconomic-cooperation-and-the- international-monetary-system/

 

 

 

Network
Initiative for Policy Dialogue
Find all related publications
Publications
15/10/2024

The social and economic impact of Brexit across Northern Ireland

Regional and Sectoral Perspectives
15/10/2024

The Windsor Framework and its implications – for Britain, Northern Ireland and the EU

11/10/2024

Algorithmic management in traditional workplaces

Case studies on the impact of algorithmic technologies in seven sectors in the Nordics
04/10/2024

Next Left country case studies

Exploring the state of Social Democracy in France, Austria, Romania, the Netherlands and Australia
Find all related news
News
21/10/2024

Your Future is Social – A Pillar for our Rights 

Video series - Why social rights must top the new EU agenda and how to make it happen
27/09/2024

Notice of vacancy – Policy Analyst on Climate and Environment

This vacancy closed on 25 October 2024
23/09/2024

FEPS at the United Nations Summit of the Future

17/09/2024

New European Commission composition proposal – Reaction by FEPS Secretary General

Find all related in the media
In the media

Brussels, my love? Europe’s economy in a struggle for survival

by Euronews 21/10/2024
FEPS director of studies and policy David Rinaldi participated in this episode of Euronews’ show ‘Brussels my love’.

Un modello digitale europeo basato sui valori

by EU News 16/10/2024
‘A European digital model rooted in values’ – EU News article on the presentation of FEPS Primer 'A Digital Union based on European Values', by Ivana Bartoletti.

Italy’s scheme to offshore asylum claims should not be a model for the rest of Europe

by The Guardian 16/10/2024
Article from The Guardian which references the policy study "Responsibility-sharing or shifting? Implications of the New Pact for future EU cooperation with third countries" by FEPS, FES and EPC.

Tóth Ákos: Megy a bal, jön a bal?

by Jelen 15/10/2024
"The Left Goes, the Left Comes?" Article in the Hungarian weekly newspaper Jelen on FEPS upcoming event 'Call to Europe - A free Hungary in a stronger Europe' (Budapest, 25-26 October).