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Symposium 2012

Presentations of the Symposium "Government Debt in Democracies: Causes, Effects, and Limits" of the Berlin-Brandenburg Academy of Sciences, November 30, 2012 and December 1, 2012


In the context of the academic project "Government Debt in Democracies: Causes, Effects, and Limits" that was funded by the National Academy of Sciences Leopoldina and the Berlin-Brandenburg Academy of Sciences the following presentations have been held at a Symposium which took place on November, 30 and December 1, 2012 in Berlin. The videos of the presentations can be accessed through the following Links.


Session 1:

Gauti B. Eggertson (New York Fed): Deficits, public debt dynamics, and tax and spending multipliers

Jakob de Haan (De Nederlandsche Bank): The role of elections in fiscal policy

Session 2:

Gernot Müller (Universität Bonn): Debt crisis and the effects of fiscal policy

Andrea Pescatori (IMF): The good, the bad, and the ugly: 100 years of dealing with public debt overhangs

Session 3:

Richard Koo (Nomura Research, Tokyo): It is private, not public finances that are out of whack

Robert E. Hall (Stanford University): Fiscal stability of high-debt nations under volatile interest rates

Session 4:

Norbert Gaillard (Paris): A century of sovereign ratings

Manfred Gärtner (Universität St. Gallen): Sovereign debt rating during the recent financial crisis

Session 5:

Alan Auerbach (UC Berkeley): Budget rules and fiscal policy: Ten lessons from theory and evidence

Harald Uhlig (University of Chicago): The dynamics of sovereign debt crises and bailouts

Panel discussion:

Carl-Ludwig Holtfrerich (Freie Universität Berlin): Government debt in economic thought of the long 19th century

Wolfgang Streeck (Universität Köln): The politics of public debt: capitalist development and the rebuilding of the state

Werner Heun (Universität Göttingen): Budget requirements and debt brakes: feasibility and enforcement

Lars Feld (Universität Freiburg): Balanced-budget requirement and leeway for fiscal policy