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Picking up the Pieces: Challenges for Policy and Theory in the Years ahead
Thursday 28 January 2010, 2.00 - 7.00pm

One Great George Street
1-7 Great George St, London, SW1P 3AA

Following the global financial crisis of 2007-8, mired in a deep recession, public finances barely under control; economies around the world face many uncertainties. Economic policy is more than ever a shot in the dark. How best to reshape regulation of financial markets? How soon to wind in all the monetary rope that has been paid out? How and when should public finances be returned to balance? The models of economies and financial markets that underpinned the policy framework of the last decade have been thrown into question. Where do we go from here? This conference addresses themes that are of importance to everyone and central to work of the ESRC World Economy and Finance Research Programme. The Conference will bring together policy makers, market practitioners, independent commentators, and academics, to discuss these issues.


14.00 - 15.30: Session 1
Challenges for Macroeconomic Analysis
Chair: Gianluca Benigno (London School of Economics)

1. Patrick Minford (Cardiff): “The Banking Crisis: A Rational Interpretation”
2. David Vines (Oxford): “Keynes, Finance, and the Future of Macroeconomics after the Crisis”
3. John Driffill (Birkbeck) and Marcus Miller (Warwick): “When Money Matters”
4. Tony Yates (Bank of England): "Macroeconomics in Monetary Policy Making: Progress and Challenges"

15.30 - 16.00: Tea / Coffee

16.00 - 17.30: Session 2
Macroeconomic Policy and Managing Public Finances
Chair: Robert Woods (Director, Macroeconomics and Chief Macro-economist, Macroeconomic and Fiscal Policy Directorate, HM Treasury)

1. George Alogoskoufis (Professor of Economics, Athens University of Economics and Business. Minister of Economy and Finance, Greece, March 2004 – January 2009): “Macroeconomic Policy in the Euro Area after the Crisis”
2. Simon Wren-Lewis (Oxford): “Fiscal Policy and Stabilization”

17.30 - 18.00: Refreshments

18.00 - 19.30: Session 3
Financial Services and Markets: Reconfiguration and Regulation
Chair: Lord Meghnad Desai

1. Justin O’Brien (Professor of Law, University of New South Wales, Sydney): "The Future of Financial Regulation; Re-Negotiating the Corporate Contract"
2. Kern Alexander (Professor of Banking and Financial Market Law, University of Zurich, and Centre for Commercial Law Studies, Queen Mary, University of London): "Systemic Risk and Complex Financial Instruments”

19.30 - 21.00: Drinks Reception


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