Call
For Paper
26th Annual ESHET Conference
The 26th Annual Conference of
the European Society for the History of
Economic Thought (ESHET) will take place
in Liège on 1–3 June 2023. Proposals for
papers or sessions on all aspects of the
history of economic thought are welcome.
An abstract of about 400 words for a paper
and 600 words for a session should be
submitted on the conference website no
later than 31 March 2023.
Decisions will be notified by 14
April 2023.
Note that:
a) published papers are not eligible for
submission; b) only one conference
presentation is allowed per person (but
more than one submission may be accepted,
if involving co-authors who are also
presenting); c) session proposals must
conform with standard format (3 papers, 90
minutes).
Theme
of the Conference
Fifteen years after the Global
Financial Crisis:
Recessions and Business Cycles in the
History of Economic Thought
The Global Financial Crisis and its
aftermath seriously questioned the models
put forward by mainstream macroeconomics
to deal with business cycles. These models
– labelled Dynamic Stochastic General
Equilibrium (DSGE) – were in particular
unable to account for the large, and
highly persistent, drop in real activity
which characterized the Great Recession.
The first response to this challenge was
to incorporate significant financial
frictions into otherwise standard DSGE
models. Some macroeconomists, however,
called for a more significant departure
from the existing paradigm in order to
accommodate the kind of amplifying
mechanisms notably suggested by Irving
Fisher and Hyman Minsky.
Before Keynes’s General Theory
(1936), providing an explanation for the
business cycle – and especially for its
upper turning point, namely the ‘crisis
phase’ – was a central concern in
economics. A well-known outcome of the
publication of Keynes’s book was to shift
the attention of authors away from
business cycle fluctuations, and toward
the determination of the short-run
equilibrium level of employment and
income. Business cycle analysis had to
wait until the seminal contributions of
Lucas (1975) and Kydland and Prescott
(1982) to come back to the center stage of
economic research. In the meantime, the
great stability characterizing the postwar
period had led both economists and
policymakers alike to believe that the
business cycle could be eliminated thanks
to well-designed monetary and fiscal
policies. More recently, the so-called
‘Great Moderation’ area (spanning from
1984 to 2008) seemed to hold out the same
promise. At the end of both episodes,
however, the business cycle came back with
a vengeance.
Special attention will be granted to
proposals that aim to explore how
economists have explained the business
cycle phenomenon in general, and its
crisis phase in particular, and the kind
of policy proposals they have formulated
to stabilize cyclical movements. Purely by
way of example, without claiming to be
exhaustive, we indicate some of the
problematic areas that seem to us most
directly involved in the theme of the
conference:
– Are modern explanations of business
cycle fluctuations radically different
from those of the 1930s?
– To which extent the different crises and
recessions of the last hundred years have
sharpened our understanding of the
business cycle phenomenon?
– According to economists, what have been
the most important shocks hitting the
economy? What have been the main
propagation mechanisms of these shocks?
– To which extent a synthetic approach to
the business cycle (such as attempted by
Haberler in Prosperity and Depression
1937) has been built?
– Is DSGE modeling consistent with old
explanations of business cycle
fluctuations?
– What have been the main policy measures
advocated to stabilize the economy?
– What was the influence of the policies
conducted during the Great Depression on
the policies conducted during the Great
Recession?
Scientific Committee
Lionel Artige, HEC Liège
Vladimir Avtonomov, HSE University Moscow
Mauro Boianovsky, Universidade de Brasilia
Pierrick Clerc, HEC Liège
Muriel Dal Pont Legrand, Université Côte
d’Azur
Michel De Vroey, UCLouvain
Pedro Garcia Duarte, INSPER Institute of
Education and Research
Ivo Maes, National Bank of Belgium
Francesco Sergi, University of Paris Est
Créteil
ESHET
YOUNG SCHOLARS’ SEMINAR 2023
ESHET
invites young scholars – persons currently
enrolled in a PhD, or who have been
awarded a PhD no more than two years prior
to the date of the relevant ESHET
conference (and regardless of age) – to
submit their work to the Young Scholars
Seminar to be held on the occasion of the
ESHET Conference in Liège, 1 – 3 June
2023. Papers co-authored by PhD
supervisors or other senior researchers
are not eligible. The grants for the
scholars selected to the Young Scholars
Seminar are sponsored by the European
Journal of the History of Economic
Thought.
Up to six submissions will be selected:
The travel expenses will be covered up to
€300, the accommodation costs up to
€80/night for three nights, and no
registration fee will be charged.
Moreover, the grantee scholars will be
invited to the conference dinner. The
authors of the selected papers will have
20 minutes each to present the paper, and
a senior scholar will discuss it. Papers
may be on any topic relevant to the
history of economics and are not
restricted to the conference theme.
ESHET encourages young scholars to
participate in the conference. A one-year
ESHET membership is offered to all young
scholars who submit a paper. Papers that
have not been selected for the grant will
be considered for presentation at other
ESHET 2023 conference sessions.
Candidates should e-mail a paper no longer
than 9000 words to Professors CATHERINE
HERFELD ([log in to unmask]),
MARIO CEDRINI ([log in to unmask]),
and PIERRICK CLERC ([log in to unmask])
by 31 March 2023.
Please include documentation of your (and
your co-authors) position vis-à-vis your
PhD and indicate in the subject of your
e-mail: For Young Scholar Seminar.
Decisions can be expected by 14
April 2023.
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