Europe beyond austerity: a discussion on how to restore innovation-fuelled growth
A conference that will bring together top macroeconomic experts with ISIGrowth researchers in order to discuss the project research findings on the consequences of Europe’s fiscal austerity and possible alternative solutions
Participation to the event is open but registration is required, non registered people will not be admitted to the conference venues. Please register by May 22nd filling the online form
The Great Recession has hit European economies hard, triggering sovereign debt crises and threatening the very survival of the Euro area. The main policy response adopted by European governments has been fiscal austerity, incarnated in the Fiscal Compact. However, fiscal-consolidation policies do not appear to have been successful. Indeed, the GDP of European member states is still below its potential level and in some economies is even lower than pre-crisis output, while unemployment remains very high. Moreover, a growing inconsistency has emerged between fiscal rigour and the Europe 2020 objectives of transforming Europe into the most competitive economy in the world. Indeed, austerity policies could damage the innovative performance of Europe, reducing potential GDP and preventing the achievement of the Horizon 2020 objective of achieving smart inclusive sustainable growth.
Program
June 1, 2016 • Meeting room, 2 rue Van Maerlant
h.9.30 – 16.15
An assessment of austerity policies and possible alternatives
9 30 Welcome by Giovanni Dosi, ISIGrowth Scientific Coordinator
9.45 Peter Dröll (European Commission – DG Research and Innovation): ISIGrowth in the context of Horizon 2020 and the Innovation Council Objectives
10.15 Alan Kirman (Aix-Marseille Université): Models of the crisis and policy recipes out of it
11.15 James K. Galbraith (Lyndon B. Johnson School of Public Affairs, UTA): Austerity policies and inequality
11.45 Robert Lord Skidelsky (University of Warwick): Austerity in times of crisis: 1929 vs 2008
12.15 Mariana Mazzucato (University of Sussex): Mission-driven innovation policies vs. shovel-ready ‘infrastructure fix’
13.45 Giovanni Dosi (Scuola Superiore Sant’Anna): The Short- and Long-Run Consequences of Fiscal Austerity: Keynes beyond Schumpeter
14.15 Willi Semmler (New School for Social Research): Debt Deflation, Financial Market Stress and Regime Change – Evidence from Europe Using MRVAR
14.45 Stefano Battiston (University of Zurich): Financial innovation and the real economy: creative destruction or destructive creation
15.15 Arturo O’Connell (Central Bank of the Argentine Republic): Centre-periphery relations: lessons from the Americas to Europe
h. 16.00-19.00
Policy Roundtable
Chairs: Giovanni Dosi and Mariana Mazzucato
Towards an era of renewed innovation-driven growth: some tentative policy suggestions
Introduction by Giovanni Dosi on current results of the ISIGrowth project followed
Invited speakers
Peter Dröll, DG Research and Innovation EC
Robert Strauss, Head of Unit DG EMPL EC
Elisabeth Lipiatou, Head of Unit DG RTD EC
Georgios Papanagnou, Policy Officer Employment and Inequalities DG RI EC
Mark Nicklas, Head of Unit DG GROW EC (to be confirmed)
Representative of DG ECFIN (to be confirmed)
Monica Frassoni, Co-chair, European Green Party
Representative of the S&D Group of the European Parliament (to be confirmed)
Fabio De Masi, GUE/NGL Group of the European Parliament
Kathleen Van Brempt, S&D Group, European Parliament
June 2, 2016 • Research Executive Agency (Place Charles Rogier, 16)
h. 9.15 – 11.15
ISIGrowth meets Civil Society
Report, discussion, dissemination with Civic Action Network
Chair: Susan George, Transnational Institute, Amsterdam
Thomas Fazi / Mario Pianta: Presentation of the ISIGrowth-Lunaria Report on Civic Action Network
“How can Europe change? Civil society proposals for policy alternatives on socially inclusive and sustainable growth”
Speakers
Andrew Watt, Independent Annual Growth Survey, Hans Bockler Stiftung
Werner Raza, Euromemorandum Group, Vienna
Martin Myant, European Trade Union Institute
Giulia Porino, Finance Watch, Brussels
Fiona Dove, Transnational Institute, Amsterdam
Markus Meinzer, Tax justice network, London
Grazia Naletto, Lunaria-Sbilanciamoci, Roma
