18. Dezember 2025

Konferenz

Fiscal Policy, Debt, and Inequality

Termin

18. Dezember 2025

Ort

Elinor Ostrom Hall
DIW Berlin
Anton-Wilhelm-Amo-Strasse 58
10117 Berlin

Sprecher*innen

Christian Bayer (Member of the Scientific Advisory Board of the Federal Ministry for Economic Affairs and Energy & University of Bonn), Claudia Buch (Chair of the ECB Supervisory Board), Martina Jasova (Barnard College, Columbia University), Melina Ludolph (Halle Institute for Economic Research & University of Magdeburg), Anna Rogantini Picco (European Central Bank, CEPR), Stefan Profit (Federal Ministry of Finance), Paolo Surico (London Business School, CEPR), Linda Tesar (University of Michigan, NBER), Christoph Trebesch (Kiel Institute for the World Economy, Kiel University, CEPR), Alexander Kriwoluzky, Malte Rieth

This one-day conference brings together leading researchers and policymakers to discuss the interactions between fiscal policy, public debt, monetary transmission, innovation, and inequality. The program features research presentations, panel discussions, and opportunities for exchange across academia and policy institutions.

Session 1 (9.00-10.30): Fiscal Policy, Innovation and Inequality

Session Chair: Gernot Müller

The Public Origins of American Innovation

Presenter: Paolo Surico (London Business School, CEPR)

Discussant: Malte Rieth (Martin-Luther Universität Halle Wittenberg, DIW Berlin)

Beyond Multipliers: Distributional Income Effects of Government Spending in the Euro Area

Presenter: Melina Ludolph (Halle Institute for Economic Research & University of Magdeburg)

Discussant: Roland Winkler (University of Jena)

Panel Discussion (11.00-12.00): Is there a Connection between Research and Policy?

Panelists: Claudia Buch (Chair of the ECB Supervisory Board), Stefan Profit (Federal Ministry of Finance), Christian Bayer (Member of the Scientific Advisory Board of the Federal Ministry for Economic Affairs and Energy & University of Bonn)

Moderator: Geraldine Dany-Knedlik (DIW Berlin)

Session 2 (13.00-14.30): Transmission Mechanisms of Monetary and Fiscal Policy

Session Chair: Alexander Kriwoluzky

Security Losses, Interbank Markets, and Monetary Policy Transmission: Evidence from the Eurozone

Presenter: Martina Jasova (Barnard College, Columbia University)

Discussant: Tatyana Marchuk (Nova School of Economics and Business, CEPR)

The Signaling Effects of Fiscal Announcements

Presenter: Anna Rogantini Picco (European Central Bank, CEPR)

Discussant: Brigitte Hochmuth (University of Copenhagen)

Session 3 (15.00-16.30): Macroeconomic Adjustments to Regional or Global Shocks

Session Chair: Lena Tonzer

Labor Mobility as a Shock Absorber: Evidence from a Structural DSGE Model of U.S. States

Presenter: Linda Tesar (University of Michigan, NBER)

Discussant: Britta Gehrke (Freie Universität Berlin)

Guns and Butter: The Fiscal Consequences of Rearmament and War

Presenter: Christoph Trebesch (Kiel Institute for the World Economy, Kiel University, CEPR)

Discussant: Carolin Pflueger (University of Chicago)  

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