Workshop on International Macroeconomics and Finance 2027 – Call for papers
Global Imbalances and External Adjustment in a Fragmented World
Friday, 2 July 2027
Zurich, Switzerland
The Swiss National Bank (SNB) and the European Central Bank (ECB) are jointly organising the second edition of the Workshop on International Macroeconomics and Finance. The event will bring together leading researchers from academia and policy institutions to present and discuss cutting-edge research in international macroeconomics and finance.
The workshop will take place in Zurich on Friday, 2 July 2027 (all day), with a welcome dinner on the evening of 1 July.
Recent years have been characterised by profound changes in the global economy and financial system, driven by rising geopolitical tensions, trade and financial fragmentation, technological innovation, and shifts in the distribution of economic power. These developments are reshaping the patterns of international trade and capital flows, altering the transmission of shocks across countries, and raising questions about the future of the international monetary system. At the same time, global imbalances have returned to the center of this discussion. Whether and under what conditions they warrant concern remain open questions. In this context, traditional frameworks and datasets for measuring external positions, assessing vulnerabilities, and analyzing adjustment mechanisms may need to be revisited. This applies, in particular, to the treatment of gross exposures, valuation effects, and the cross-border operations of multinational firms. Understanding these changes is essential for evaluating the resilience of the global financial system, preserving the benefits of international risk sharing, and informing policy in an increasingly uncertain and fragmented world.
The workshop will conclude with a panel discussion on the policy implications of recent research findings, including those presented at the workshop. Anusha Chari (University of North Carolina), Ralph Ossa (University of Zurich), and Hélène Rey (Bank for International Settlements) are confirmed panelists. Cédric Tille (Graduate Institute) will moderate the discussion.
Call for papers
Submission deadline: 31 January 2027
We welcome paper submissions on the changing global financial system and its implications for the global economy. Both rigorous empirical studies and novel theoretical contributions are encouraged. Topics that the submissions can address include, but are not limited to:
- Global imbalances: drivers, persistence, and implications
- External adjustment, measurement, and transmission mechanisms
- Fragmentation and the reorganization of real and financial flows
- Evolution of the international monetary system
The deadline for paper submissions is 31 January 2027. Please send completed papers in pdf format to international-workshop@snb.ch. Authors of the accepted papers will be notified by 15 March 2027.
Travel funding may be available upon request for academic presenters and discussants. Please note that conference attendance is by invitation only.
Organisers:
- Georgios Georgiadis, ECB
- Benjamin Müller, SNB
- Martin Schmitz, ECB
- Pınar Yeşin, SNB
Scientific committee:
- Stefan Avdjiev, Bank for International Settlements
- Agustín Bénétrix, Trinity College Dublin
- Julien Bengui, SNB
- Kenza Benhima, University of Lausanne
- Lorenz Emter, ECB
- Georgios Georgiadis, ECB
- Benjamin Müller, SNB
- Martin Schmitz, ECB
- Pınar Yeşin, SNB
Workshop administration:
Sabrina Grunauer and Sylvia Schär, both SNB