CEPII, Recherche et Expertise sur l'economie mondiale
Vendredi 29 juin 2018
CEPII, 20 avenue de Ségur, 75007 Paris
CEPII conference "Real Equilibrium Exchange Rates: Relevance in Open Economy Macroeconomics and Operationality in Economic Policy-Making"

The widening and persistence of current account disequilibria at the international level and in the Euro area in particular have refocused real exchange rate distortions at the core of international debates. What are the exchange rate adjustments needed to correct excessive imbalances? How to assess whether a currency is fundamentally misaligned, i.e. under- or over-valued? Taking the occasion of the publication of EQCHANGE, its new dataset providing effective and equilibrium exchange rates and corresponding currency misalignments for 182 countries since 1973, the CEPII organizes a half-day conference in Paris on June 29, 2018. Bringing together top academics and policy institutions, the conference aims at discussing both the state of the art in the open economy macroeconomics literature and how the concept is used by institutions to monitor imbalances.

8.30-8.45 am Welcome Coffee
8.45-9.00 am Welcome speech, Anne-Laure Delatte, CEPII Deputy Director
9.00-10.00 am Keynote presentation by Martin Berka, Professor of Macroeconomics at the School of Economics and Finance, Massey University, and Director of the New Zealand Centre for Macroeconomics:
« Real Exchange Rates and Sectoral Productivity in the Eurozone » by Martin Berka, Michael B. Devereux and Charles Engel
10.00-10.30 am Coffee break
10.30-12.00 am Panel discussion:
« Are currency misalignments an operational policy tool to track down imbalances? »
Agnès Benassy-Queré (Professor at Paris School of Economics)
Virginie Coudert (Scientific Advisor in the Directorate Financial Stability of the Banque de France)
Alessandro Turrini (Head of Macroeconomic Surveillance Unit at the European Commission – Directorate General for Economic and Financial Affairs)
Stefen Zeugner (Deputy Head of Macroeconomic Surveillance Unit at the European Commission – Directorate General for Economic and Financial Affairs, tbc)
12.15-12.30 pm  Presentation of EQCHANGE, the new CEPII database, by Carl Grekou, economist at CEPII
12.30-2.00 pm Buffet lunch
Contact: conferencesatcepii.fr