2012 - The European Crisis: Historic Parallels and Economic Lessons

The JRCPPF inaugural conference took place on April 19-20, 2012 at Princeton University. Paul Krugman, Professor of Economics and International Affairs at the Woodrow Wilson School, gave the first day's keynote and Benoit Coeure, Executive Board member of the European Central Bank, gave the Friday keynote address. Leading economists (including Nobel Prize winner Chris Sims) and historians gave presentations. Videos, papers presented, and corresponding slides from are posted below. Selected photos from the conference are here.

Read the conference summary.

 

Videos, Papers, & Slides

Session I

Chair: Hyun Shin, Princeton University

Chris Sims, Princeton University
"Gaps in the Institutions of the Euro Area"
(Paper | Slides)

Ricardo Reis, Columbia University
"Can a Central Bank with Negative Capital Still be Effective?" 
(Slides)

Harold James, Princeton University
"Lessons for the Euro from History"
(Paper | Slides)

Video: Gaps in the Institutions of the Euro Area

Video: Can a Central Bank with Negative Capital Still be Effective?

Video: Lessons for the Euro from History

Session II

Chair: David Thesmar, HEC Paris

Luis Garicano, London School of Economics
"The Spanish Variant of the Dutch Disease"
(Slides)

Tano Santos, Columbia University
“Domestic Banking in a Monetary Union: The Spanish Case”
(Slides)

Video: The Spanish Variant of the Dutch Disease

Video: Domestic Banking in a Monetary Union: The Spanish Case

Thursday Keynote Address

Paul Krugman, Princeton University
"Europe's Two Depressions"
(Slides)

Video: Europe's Two Depressions

Session III

Chair: Mark Aguiar, Princeton University

Hans-Werner Sinn, University of Munich
"The Euro Crisis"
(Slides)

Video: The Euro Crisis

Friday Keynote Address

Benoit Coeure, European Central Bank
"Risk Sharing in EMU: Before, During and After the Crisis"
(Speech)

Video: Risk Sharing in EMU: Before, During and After the Crisis

Session IV: Policy Panel, "Current Events in Europe"

Jean-Pierre Landau, Princeton University
"Internal Imbalances in the Eurozone"
(Slides)

Ashoka Mody, IMF
“Banks in the Eurozone and Capital Flows’ Reversal”
(Slides)

Jacob Goldfield
"Did the Three Year LTROs Really Cause the Yield Decline?"

Christian Kastrop, German Ministry of Finance
“Eurozone: What Strategy Against Failure?“
(Slides)

Franklin Allen, University of Pennsylvania 
"How Will the Eurozone Emerge from the Crisis?"
(Slides)

Video: Internal Imbalances in the Eurozone

Video: Banks in the Eurozone and Capital Flows’ Reversal

Video: Did the Three Year LTROs Really Cause the Yield Decline?

Video: Eurozone: What Strategy Against Failure?

Video: How Will the Eurozone Emerge from the Crisis?

2012 Conference

Keynote Speakers

Paul Krugman

Paul Krugman, Princeton University

Benoit Couere

Benoit Couere, European Central Bank