Programme: - Unconventional monetary policy in HANK, - Austerity in the aftermath of the great recession, - NLB: negative (no) lower bound policy as an efficient monetary policy instrument, - Beyond the liquidity trap: the secular stagnation of investment, - Monetary union begets fiscal union, -...

Global trade growth was very weak over the past four years. While global trade grew at approximately twice the rate of GDP prior to the Great Recession, this trade elasticity has since declined to below unity. This raises the question to what extent the change in the relationship between global...