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You are here: Home Fiscal Risk Conference 2017

Fiscal Risk Conference 2017


Fiscal Risk and Public Sector Balance Sheets

ADEMU Workshop
 July 6-7, 2017
University of Bonn, Germany
Organizer: Jürgen von Hagen
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"The ADEMU project is funded by the European Union’s Horizon 2020 Programme under grant agreement N° 649396"

The European fiscal crisis has spurred new research into the measurement and modeling of fiscal risk. This conference aims at bringing together current theoretical and empirical research into these areas with a special interest in the analysis of public sector balance sheets. Topics include 

  • Indicators of fiscal risk, 
  • Macro and financial economics models of fiscal risk and risk indicators
  •  Assessment of fiscal risk in the context of public sector balance sheets, 
  • Fiscal risk management, and economic policies addressing fiscal risk. 

 The conference will start with an informal get-together Wednesday evening July 5, and end July 7 with lunch.


Registration for participants is now open and will close May 15, 2017. The conference will cover the local cost of accommodation and meals. Limited travel funds are available especially for young researchers.

Please indicate your interest in serving as a discussant.

Applications for registration should be submitted to: Professor Jürgen von Hagen, [Email protection active, please enable JavaScript.] 


 The conference will take place in Bonn, Germany. Participants traveling by plane can use Cologne-Bonn Airport, Duesseldorf Airport, or Frankfurt Airport. From Duesseldorf or Frankfurt and travel by train generally, use the high-speed train to Siegburg-Bonn.


The conference is part of the ADEMU (A Dynamic Economic and Monetary Union) project within the European Union’s Horizon 2020 program. The Preliminary Program is now available.




Vitor Gaspar
A keynote Address Vitor Gaspar
Carlos Thomas
(Bank of Spain)
When Fiscal Consolidation Meets Private Deleveraging  Carlos Thomas
Huixin Bi
(Federal Reserve Bank of Kansas City)
Sovereign Risk and Fiscal (In)Attention  Huixin Bi
Aitor Erce (ESM, Luxembourg) Explaining Costs of Sovereign Defaults: Bank Distress and Investment Channel  Aitor Erce
Niccolo Battistini
Debt Limits and Sovereign Default in the Euro Area  N.Battistini
Tigran Poghosyan (IMF) Fiscal Crises  Tigran Poghosyan
Madina Karamysheva 
(NRU, Higher School of Economics, Moscow)
Can Uncertainty Explain the Heterogeneous Output Effects of Fiscal Adjustments?  M.Karamysheva
George Kopits
(Woodrow Wilson Center, Washington DC)
Converging to a Comprehensive Risk-Adjusted Fiscal Sustainability Analysis  George Kopits
Carlos Mulas-Granados
The Blind Side of Public Debt Spikes C. Mulas Granados
Gernot Müller 
(University of Tübingen)
Does Austerity Pay Off? G. Müller
Dominik Thaler
(Bank of Spain)
Austerity to Save the Banks? A Quantitative Model of Sovereign Default with Endogenous Default Cost and a Financial Sector  D. Thaler



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