1st Heidelberg-Tübingen-Hohenheim (HeiTüHo) Workshop on International Financial Markets

Schloss Hohentübingen, December 7th - 8th 2018

Organized by Zeno Enders (University of Heidelberg), Gernot Müller (University of Tübingen), and Michael Evers (University of Hohenheim)

With generous financial support by the Deutsche Bundesbank (Hauptverwaltung Baden-Württemberg)

The state of Baden-Württemberg is a powerhouse of the global economy. Its welfare is therefore  - perhaps more than elsewhere - dependent on the proper functioning of international financial markets. The workshop aims at bringing together leading scholars from Baden-Wüttermberg and abroad in order to discuss recent phenomena and developments in the global economy as well as their implications for economic policy.

Impression from the conference at Schloss Hohentübingen

Conference program

Friday, December 7th

14:00 - 15:40 Session 1: Exchange rates

Currency Manipulation by Thomas Mertens , Federal Reserve Bank of San Francisco (joint work with Tarek Hassan, and Tony Zhang)

Discussion: Wilhelm Kohler, University of Tübingen

Exchange rate undershooting: Evidence and Theory by Thomas Hettig, University of Tübingen (joint work with Gernot Müller, and Martin Wolf)

Discussion: Benjamin Born, Frankfurt School


16:00 - 17:40 Session 2: Euro-area wide unemployment insurance

Optimal Federal Unemployment Insurance – Theory, and an application to Europe by Keith Kuester, University of Bonn (joint work with Marek Ignaszak and Philip Jung)

Discussion: Michael Krause, University of Köln

On a European Unemployment Insurance by David A. Vespermann, University of Heidelberg (joint work with Zeno Enders)

Discussion: Christian Manger, University of Tübingen


Saturday, December 8th

9:00 - 10:00 Keynote lecture

Exchange Rates and Uncovered Interest Differentials: The Role of Permanent Monetary Shocks by Stephanie Schmitt-Grohé, Columbia University (joint work with Martin Uribe)


10:00 - 10:50

Revisiting the Costs of Self-Oriented National Monetary Rules by Martin Bodenstein, Federal Reserve Board (joint work with Giancarlo Corsetti and Luca Guerrieri)

Discussion: Gianni Lombardo, BIS


11:10 - 12:50 Session 3: Nominal rigidities

Price Rigidity and the Origins of Aggregate Fluctuations by Raphael Schoenle, Brandeis University (joint work with Michael Weber and Ernesto Pasten)

Discussion: Bartosz Mackowiak, ECB

Government Spending, Downward Wage Rigidity, and Exchange Rate Dynamics by Francesco D’Ascanio, University of Tübingen (joint work with Benjamin Born, Gernot Müller, and Johannes Pfeifer)

Discussion: Sebastian Schmidt, ECB


14:00 - 15:40 Session 4: Interest rate spreads

Sovereign debt crisis and bond market liquidity by Julian Schumacher, ECB

Discussion: Egor Maslov, University of Zürich

Market discipline by Susanne Wellmann, University of Tübingen (joint work with Benjamin Born, Gernot Müller and Johannes Pfeifer)

Discussion: Steffen Elstner, RWI


16:00 - 17:40 Session 5: Forecasting

Revisions to Potential Output Estimates in the EU after the Great Recession by Christopher Zuber, University of Heidelberg (joint work with Jonas Dovern)

Discussion: Esteban Prieto, Bundesbank

Phillips Curves in Noisy Information Forecasts by Markus Kontny, University of Hohenheim

Discussion: Franziska Hünnekes, LMU Munich

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Letzte Änderung: 25.02.2019
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