See below the presentations available from the NEROs meeting on 21 September:

• Financial Frictions and Swap Market Risk Premiums, Kenneth J. Singleton

• Liquidity and the Dynamic Pattern of Asset Price Adjustment: A Global View, Ansgar Belke

• Japanese Financial Crisis and Crisis Management, Mitsuhiro Fukao

• Comparing the Current Crisis to the Great Depression, Karl Aiginger

• Non-Traditional Monetary Polices, Kazuo Ueda

• ResearchFiscal Policy, Fairness between Generations and National Saving, Martin Weale

• Potential Output after the Crisis, Dave Turner

• Intermediation, Growth and Emerging Markets After the Crisis, Suman Bery

• Blowing Bubbles and Bursting Them: Managing Housing Markets Under EMU, John FitzGerald

• New Zealand’s economic challenges after the crisis, Jean-Pierre DE RAAD

 10:00-10:15

 Introductory remarks

 10:15-11:40

 Understanding the crisis

• Casino-capitalism, Hans Werner SINN, IFO Institut für Wirtschaftsforschung

• Contributions of macroeconomic shocks & liquidity shocks to risk premia, Kenneth SINGLETON, National Bureau of Economic Research (NBER)

• New kid on the block: Global excess liquidity and its implications for the sub-prime crisis, Ansgar BELKE, German Institute for Economic Research (DIW)
  Background to the presentation: Global Liquidity and Commodity Prices – A Cointegrated VAR Approach for OECD Countries; The importance of global shocks for national policymakers – Rising challenges for central banks.

  General discussion

11:40-11:45

 Coffee break

11:55-13:00

 Comparing with previous episodes

• Comparison of this crisis with the crisis in Japan in 1997-98, Mitsuhiro FUKAO, Japan Center for Economic Research (JCER)

• Comparing the current crisis to the crisis of 1930 regarding depth and political response, Karl AIGINGER, Austrian Institute of Economic Research (WIFO)
  Background to the presentation: Strengthening the resilience of an economy; The current economic crisis: causes, cures and consequences.
  

  General discussion

13:00-14:30

 Lunch break

14:30-15:35

 Policy responses

• Comparison of non-traditional monetary policies, Kazuo UEDA, Tokyo Centre for Economic Research (TCER)

• Fiscal policy and national saving, Martin WEALE, National Institute of Economic & Social Research (NIESR)

  General discussion

15:35-15:50

 Coffee break

15:50-18:00

 After the crisis

• Potential output after the crisis, David TURNER, OECD

• Proposals for an integrated financial, monetary and fiscal architecture after the crisis, Dennis SNOWER, Kiel Institute for the World Economy

• Likely pattern of global financial intermediation following the crisis, Suman BERY, National Council of Applied Economic Research (NCAER)

• Fiscal policy to prevent property market bubbles occurring (experience of Ireland and Spain under EMU),
  John FITZGERALD, Economic and Social Research Institute (ESRI)

• New Zealand’s economic challenges after the crisis,
  Jean-Pierre DE RAAD, New Zealand Institute of Economic Research (NZIER)