NBER Annual International Seminar on Macroeconomics (ISoM)

On Friday 18th and Saturday 19th of June, DNB hosted the National Bureau for Economic Research's annual International Seminar on Macroeconomics (ISoM).

Seminar June 2010
The NBER is the largest nonprofit economic research organization in the US; many of its adherents are leading economists in their field, and half of the US recipients of the Nobel Prize in Economics have been researchers at the NBER.

The ISoM, which is held every year in Europe, is the opportunity for US and EU-based economists to get together and discuss recent work in a broad range of issues in Macroeconomics. Over two days, presenters and discussants exchanged views in the Grote Directievergaderzaal on such topics as the relationship between hours worked and productivity shocks, real-time monitoring of the global business cycle, the credibility of the ECB at its inception, the effects of fiscal policy on long-term rates in the presence of default risk, the difficulty of modelling Pigou cycles, the profitability of carry trades in recent times, and the effectiveness of fiscal policy when interest rates are very low.

Seminar June 2010
After such meaty food for thought, participants were treated to exquisite dining at Christophe's on Friday evening, and the Ship's Chandler on Saturday evening. The change of scenery offered by the guided tour in the historical center was enhanced by the throngs of Oranje supporters celebrating the victory of the national team in the first round of the World Cup.

All in all, the conference was a success, and a number of participants expressed the wish to visit again. This promises a stream of excellent speakers in the years to come.