CEPII, Recherche et Expertise sur l'economie mondiale
Mardi 18 juin 2019
15.00-16.30 - CEPII, 20, avenue de Ségur, 75007 Paris
Presentation of the IMF note "Strenghtening the Euro Area: The Role of National Structural Reforms in Enhancing Resilience"

Romain DUVAL
Advisor to the Chief Economist in the IMF Research Department
Shekhar AIYAR
Head of the Euro Area team, IMF
Economist, IMF
Anne-Laure DELATTE
Deputy Director, CEPII
Major differences in economic resilience—an economy’s ability to withstand and adjust to shocks—persist across the euro area. This reflects in part the lack of independent nominal exchange rates, and the consequent greater reliance on other mechanisms to adjust to shocks. Greater risk sharing and integration within the euro area would help soften economic shocks, but countries’ own policies are vital.

At this event, the IMF economists will present a new IMF study which examines how euro area member states can enhance their resilience by reforming labor and product markets and strengthening corporate insolvency regimes.

They will look into several burning issues:
- Have recessions in euro area economies become more severe and frequent since the start of the monetary union?
- Can national reforms of labor market institutions, product market regulations and corporate insolvency regimes help countries in facing downturns?
- Would national structural reforms reduce the dependence on fiscal and monetary policies in delivering macroeconomic stability?
- What are the complementarities between national and euro area reforms?

Contact: conferencesatcepii.fr