Organizers: Martin Kahanec (CELSI, Central European University and IZA), Klaus F. Zimmermann (IZA and University of Bonn), Martin Suster (National Bank of Slovakia (NBS))

Place: Hotel Saffron, Radlinského 27, Bratislava, Slovakia

Date: October 20, 2014 - October 21, 2014

Program

Monday, October 20:

08:30 - 09:00 Registration

09:00 - 09:30 Opening Remarks

Jozef Makúch (Governor of the National Bank of Slovakia)

9:30 – 10:30 Keynote Speech Klaus F. Zimmermann (IZA and University of Bonn) “The Economics of Labor Market Reforms”

10:30 - 11:30 Session A: Wage Setting and Price-Wage Interactions

Chair: Martin Suster (National Bank of Slovakia (NBS))

Lead discussant: Peter Tóth (National Bank of Slovakia)

Piotr Lewandowski (Institute for Structural Research (IBS)), Marek Antosiewicz (Warsaw School of Economics) "What if You Were German - A DSGE Approach to Great Recession on Labour Markets"

Gaetano D'Adamo (Universidad de Valencia), Mariam Camarero (Universidad Jaume I), Cecilio Tamarit (Universidad de Valencia) "The Role of Institutions in Explaining Wage Determination in the Euro Area: A Panel Cointegration Approach"

11:30 - 12:00 Coffee Break

12:00 - 13:30 Session B: Labor Market Modeling, Macro-Interactions and Policies

Chair: Alessio J. G. Brown (IZA)

Lead discussant: Ronald Bachmann (RWI and IZA)

Andrea Raffo (Federal Reserve Board of Governors), Gonzalo Llosa (University of California, Los Angeles), Lee Ohanian (University of California, Los Angeles), Richard Rogerson (Princeton University)"Firing Costs and Labor Market Fluctuations - A Cross-Country Analysis"

Christian Merkl (University of Erlangen-Nuremberg and IZA), Almut Balleer (RWTH Aachen), Britta Gehrke (Friedrich-Alexander University Erlangen-Nuremberg), Wolfgang Lechthaler (Kiel Institute for the World Economy) "Does Short-Time Work Save Jobs? A Business Cycle Analysis"

Yolanda Fatima Rebollo Sanz (Universidad Pablo de Olavide), Núria Rodríguez-Planas (Queens College, CUNY and IZA)"Effects of Reducing the Unemployment Insurance Replacement Rate during the Recession? A Natural Experiment with Administrative Data"

13:30 - 14:30 Lunch

14:30 - 16:00 Session C: Implications for Monetary Policy

Chair: Martin Kahanec (Central European University and IZA)

Lead discussant: Christian Merkl (University of Erlangen-Nuremberg and IZA)

Michal Rubaszek (National Bank of Poland), Anna Kosior (National Bank of Poland), Kamil Wierus (National Bank of Poland) "On the Importance of the Dual Labour Market for a Country within Monetary Union"

Lien Laureys (Bank of England) "Optimal Monetary Policy in the Presence of Human Capital Depreciation during Unemployment"

16:00 - 16:30 Coffee Break

16:30 - 17:30 Book Launch: Labor Migration, EU Enlargement, and the Great Recession

Klaus F. Zimmermann (IZA and University of Bonn) “EU Enlargement and the Labor Markets: Mobility Agenda for a Vibrant Europe”

Martin Kahanec (CELSI, Central European University and IZA) “The Free Movement of Workers in an Enlarged European Union: Adjustment in the EU and its Member States”

Annabelle Krause (IZA), Ulf Rinne (IZA), Klaus F. Zimmermann (IZA and University of Bonn) "How Far away Is a Single European Labor Market?"

17:30 - 18:00 Special Session: IZA World of Labor

Chair: Alessio J. G. Brown (IZA)

Klaus F. Zimmermann (IZA and University of Bonn) "Circular Migration"

19:00 Dinner

Tuesday, October 21:

09:00 - 10:00 Session D: Labor Markets in Central Europe

Chair: Jan Toth (National Bank of Slovakia (NBS))

Lead discussant: Francesco Pastore (University of Naples II and IZA)

Andreas Wörgötter (OECD, Paris), Zuzana Brixiova (African Development Bank and IZA) "The Impact of Internal Devaluation, Participation in Global Value Chains and Active Labour Market Policy in Small Euro Member Countries"

Zuzana Siebertova (Council for Budget Responsibility (CBR)), Matúš Senaj (Council for Budget Responsibility (CBR)), Norbert Švarda (Council for Budget Responsibility (CBR)), Jana Valachyová (Council for Budget Responsibility (CBR)) "To Work or Not to Work? Estimates of Labour Supply Elasticities"

10:00 - 11:00 Keynote Speech

Jordi Galí (CREI and Universitat Pompeu Fabra), Tommaso Monacelli (Bocconi University) "Understanding the Gains from Wage Flexibility: The Exchange Rate Connection"

11:00 - 11:30 Coffee Break

11:30 - 13:00 Session E: Euro Area Labor Markets during the Current Crisis

Chair: Pavel Gertler (National Bank of Slovakia (NBS))

Lead discussant: Yolanda F. Rebollo Sanz (Universidad Pablo de Olavide)

Benedicta Marzinotto (University of Udine) "Wage Behavior over the Cycle under EMU: The Role of Risk Aversion"

Gregory Verdugo (Bank of France and IZA) "Real Wage Cyclicality in the Euro Zone before and during the Crisis: Evidence from Micro-Data"

Ronald Bachmann (RWI and IZA), Peggy Bechara (RWI), Anica Kramer (RWI), Sylvi Rzepka (RWI) "Labour Market Dynamics and Worker Heterogeneity during the Great Recessions - Evidence from Europe"

13:00 - 14:00 Lunch

14:00 - 14:30 Governor of the NBS Award Student Award for Best Dissertation/Thesis on an Economic Topic

14:30 - 16:00 Session F: Labor Mobility in Europe

Chair: Klaus F. Zimmermann (IZA and University of Bonn)

Lead discussant: Andreas Wörgötter (OECD, Paris)

Robert Beyer (Goethe University Frankfurt), Frank Smets (Goethe University Frankfurt) "Labour Market Adjustments and Migration in Europe and the United States: How Different?"

Patrick A. Puhani (Leibniz University of Hannover and IZA), Julia Jauer (OECD, Paris), Thomas Liebig (OECD, Paris), John P. Martin (University College Dublin and IZA) "Migration as an Adjustment Mechanism in the Crisis? A Comparison of Europe and the United States"

Jose Maria Casado (Bank of Spain), Juan F. Jimeno (Bank of Spain and IZA), Cristina Fernández-Vidaurreta (Bank of Spain) "Workers Flows in the European Union during the Great Recession"

16:00 - 16:15 Closing Remarks

16:15 - 16:45 Coffee