FES International Research Seminar Series with Professor Hubert Kempf, Ecole Normale Supérieure Paris-Saclay, France

Dear colleagues,

Our next speaker in the FES International Seminar Series is Hubert Kempf  who is a full professor of economics at Ecole Normale Supérieure Paris-Saclay.
Hubert is also an Academic supervisor at the International Laboratory for Macroeconomic Analysis (HSE). He will stay in Moscow until November 16. If you would like to meet Hubert and discuss research please contact him directly by e-mail hubert.kempf@ens-paris-saclay.fr, his office number is T622.

Speaker: Hubert Kempf
Title:  Monetary union as an international monetary system.
Abstract: A monetary union is more than the sharing of means of payment. Such an institution requires a proper coverage of the dilemmas and stakes that it raises, triggered in particular by the creation of the eurozone. My research attempts asynthesis and provides the analytical tools necessary to understand and investigate existing or future monetary unions. 
The cornerstone of my reasoning is to consider a monetary union as a international monetary system of its own, tacking the same issues as any such system: balancing and regulating inter-jurisdictional flows over time. A consequence of this starting point is that a monetary union extends beyond monetary matters and the issue of transaction costs, on which Mundell focuses his (early) analysis. The core issue is the nature of cross-border adjustments within the union, be they through capital flows, public flows, or obviously prices and incomes, once a key mechanism to provide for adjustments -- exchange rates -- is missing.

Date: November 11, 2019
Time: 13:40-15:00
Venue: Pokrovka campus, room  T510 (109028, Moscow,  Pokrovsky Boulevard 11)
Working language: English

For external participants:  to order the pass, please contact Disa Malbakhova dmalbakhova@hse.ru