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 13
February 2023. Decisions will
be notified by 31
March 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 13 February 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 31
March 2023.
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