Topics: - What is the empirical evidence on aggregate and distributive effects of unconventional monetary policy (e.g., negative interest rates, asset purchases, targeted longer-term refinancing operations)? Through which channels are these effects transmitted? How persistent are they? - What...

Topics: - Reforming the Stability and Growth Pact - Financial stability of the EMU - The role of ECB - Fiscal imbalances and sovereign default in the EU - Debt consolidation strategies - Dealing with Current Account Imbalances - The role of EURO in the emerging world monetary system

ESSET 2011 will be devoted to theoretical perspectives on financial crises. Focus sessions in the first week (4-8 July) will be organised around the theme of "Asset Pricing, Financial Stability, and the Crisis" . Focus sessions in the second week (11-15 July) will be organised around the theme...

This course develops a theoretical framework for the analysis of financial market liquidity and asset pricing organized around the principle of balance sheet spillover effects of leveraged financial institutions. The course begins with the theoretical framework for pricing assets in an...