Abstract
In this talk, I will start with a short reference to the design of the Max Weber Programme, and to the general interaction between induction vs deduction, between learning and evolution vs policy and institutional design, an interaction to which different social sciences and humanities contribute. I will refer to some contributions that economic theory has made (a short tribute to Robert E. Lucas Jr. and Edward C. Prescott). Then I will enter on the main topic of the lecture: the historical evolution of the EU; in particular, of its 21st Century evolution through crises from an European Union (and euro area) without resilience concerns, to one with a broad range of European public goods, challenges and resilience responsibilities; from a relatively simple fiscal and monetary (Maastricht) framework to the need of a resilient and efficient framework, when "Europe once again must answer the call of history" (EC President von der Leyen’s 2023 State of the Union Address, September 13). I will close with a proposal for a European Stability Fund with a dynamic mechanism design, which, in conjunction with the ECB, can act as a Lender of Last Resort for the EA, and possibly the EU.
Ramon Marimon is a Professor of Economics at the Department of Economics and Business of the Universitat Pompeu Fabra, Associate Professor of CREi, Affiliated Professor of the Barcelona School of Economics, and part-time Professor at the Department of Economics of the European University Institute. Fellow of the Econometric Society and of the European Economic Association and Research Fellow of CEPR and NBER. Former Economics Professor (2014 – 2021) and Pierre Werner Chair (2016 – 2021) at the European University Institute, Chairman of the Barcelona School of Economics (2011 – 2018), President of the Society of Economic Dynamics (2012 – 2015) and of the Spanish Economic Association (2004), Director of the Max Weber Programme of the EUI (2006 – 2013) and Chair of the European Economic Association Standing Committee on Research (2008 – 2011). He was Secretary of State for Science and Technology in Spain (2000 – 2002) and had served in several Expert Groups advising the European Commission on R&D and Higher Education policy. His research interests include Macroeconomics, Monetary Theory, Contract Theory, Learning Theory and Labor Theory, with a special emphasis on European economic issues.