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May 23, 2014, 10:00-11:30  Venue: CIGS Meeting Room 3B

"Discussion with the Macroeconomist of Bruegel"

On 23rd May 2014, the CIGS received a visit by two guests from Bruegel, a prominent European think-tank based in Brussels, whose official name is Brussels European and Global Economic Laboratory. The Guests were Dr Gregory Claeys (Research Fellow) and Ms Pauline Labib (Development Manager). The following issues were discussed with the management members, researchers and advisors of the CIGS.

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(Dr Gregory Claeys, Ms Pauline Labib from the left)

Presentation by Dr. Gregory Claeys
Presentation by Dr. Gregory Claeys(PDF:3.83MB)

Working Paper
Bruegel Policy Contribution(PDF:980KB)



Discussion

Dr Claeys made a presentation concerning the current low inflation situations in the Euro area, the weak inflation expectations, the actions to be taken by the ECB to achieve its inflation target and the evaluation on the alternatives of these actions as well as comparison with the Japanese situations in the last two decades (please refer to copies of the presentation and the working paper attached).

Comments and discussions were made on the following points: the mechanism to be clarified whereby certain actions definitely lead to the achievement of an increase in prices in the market; the statutory limitation imposed on the ECB for the possible policy alternatives; the evaluation on the monetary easing measures currently taken by the BOJ; and the problems in lack of exit policy.