Forum for Macroeconomics and Macroeconomic Policies

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The Forum for Macroeconomics and Macroeconomic Policies (FMM, originally " Research Network Macroeconomics and Macro-Politics ") is an organization that organizes conferences and educational programs on macroeconomic topics, including the second largest annual economic conference in Germany. The topics taken up there are discussed by economists inside and outside the mainstream and the contributions are recorded in the most important scientific databases. The forum focuses on questions of macroeconomic theory and politics and aims to open up space for approaches outside the mainstream. Post-Keynesian economists are among the network's coordinators and guests at the annual FMM conference , although the lectures and discussions also include other approaches. In recent years, Paul De Grauwe , Branko Milanovic , Jonathan Ostry , Wendy Carlin , Roger Farmer , Moritz Schularick and Samuel Bowles have lectured at the conference . This also attracted media interest. The FMM offers discussions on economic theory and economic policy debates according to its research program: Macroeconomic theory is seen as the basis for policies that aim at full employment, environmentally sustainable growth, price stability, reducing inequality and eradicating poverty.

The forum regularly publishes working papers that are also listed on RePec.

organization structure

The forum is based at the Institute for Macroeconomics and Business Cycle Research (IMK) of the Hans Böckler Foundation and was founded in 1996. The activities of the research network are financed by the Hans Böckler Foundation, which promotes education, research and participation on behalf of the German Federation of Trade Unions (DGB). The coordinating committee operates a website and a newsletter. In contrast to other economics associations, the FMM is not a membership organization and its activities are aimed at anyone interested in discussing its research topics.

history

The FMM was founded in 1996. Two phases can be distinguished in its development: In the first period from 1996 to 2003 the FMM was established as a German network that organizes regular conferences in Berlin. Since 2004 the FMM has been gradually internationalized and over time has become an important part of the worldwide network of Keynesian economists and conferences. Due to this development, the original name "Research Network Macroeconomics and Macroeconomics" was replaced in 2017 by "Forum Macroeconomics and Macroeconomic Policies". In October 1997 the first FMM conference, which dealt with the topic “The renaissance of macroeconomics”, took place in Berlin. The conference contributions were then published by Metropolis Verlag Marburg.

In 2005 the FMM organized the conference "Macroeconomics and Macroeconomic Politics - Alternative to Orthodoxy" in cooperation with the Post-Keynesian Economics Study Group (PKSG, Great Britain) and the Association pour le Développement des Études Keynésiennes (ADEK, France) in Berlin, 72 papers from 16 countries were presented and 150 participants were listed. In 2006 the forum arranged a cooperation with the scientific journal Intervention. Journal of Economics , published today by Edward Elgar Publishing as the European Journal of Economics and Economic Policies: Intervention (EJEEP). Since then, selected conference contributions have been published in the journal, since 2013 as a special edition. Since 2010, the number of conference participants has stabilized at a level of over 300 visitors. Since the number of lectures has also increased to around 140, the conference is divided into parallel panels. Since 2006, young scientists have been given the opportunity to present alternative macroeconomic research approaches in a graduate student session. In addition, the FMM regularly organizes an international summer school on Keynesian economics and European economic policy. It took place in Berlin for the first time in August 2008 with 55 participants from 17 countries and has been offered every two years since then.

Paradigmatic alignment

According to its own programmatic declaration, the FMM wants to contribute to the development of theoretical and political alternatives to mainstream macroeconomics. One focus is the theoretical examination of Keynes' writings and their development by modern post-Keynesian and some neo-Keynesian scholars. Institutional and evolutionary economics, game theory approaches and political economy are also discussed. Production and employment are defined as macroeconomic variables that are determined by the aggregate demand in the goods market. According to this view, it is common in modern market economies that demand restrictions usually come into effect before capacity and supply bottlenecks. Money is not neutral - neither in the short nor in the long term. Uncertainty and institutions that influence uncertainties are of great macroeconomic importance. Accordingly, macroeconomic policy is indispensable in both the short and long term and influences both the demand and the supply side of an economy.

Annual conferences

The annual conferences usually take place in Berlin in late October or early November. Each conference is devoted to a macroeconomic theme. The following conferences were held:

1st FMM workshop: Alternatives to macroeconomic policy in the area of tension between unemployment, globalization and high national debt, Berlin, 1997
2nd FMM Workshop: Perspectives on Macro-Politics between the Nation-State and the European Union, Düsseldorf, 1998
3rd FMM Workshop: New Architecture of the World Monetary Order, Berlin, 1999
4th FMM Workshop: USA - Deconstructing a Model?!, Berlin, 2000
5th FMM workshop: Another monetary policy for more growth and employment in Europe ?, Berlin, 2001
6th FMM workshop: New Keynesianism - the new economic mainstream ?, Berlin, 2002
7th FMM Workshop: Financial Policy in the Controversy, Berlin, 2003
8th FMM Workshop: Wages, Distribution and Growth, Berlin, 2004
9th FMM Workshop: Macroeconomics and Macroeconomic Policies - Alternatives to the Orthodoxy, in co-operation with the Post Keynesian Economic Study Group (UK) and the Association pour le Développement des Études Keynésiennes (FR), Berlin, 2005
10th FMM Workshop: European Integration in Crisis, Berlin, 2006
11th FMM Workshop: Finance-led capitalism? Macroeconomic effects of changes in the financial sector, Berlin, 2007
12th FMM Conference: Macroeconomic Policies on Shaky Foundations - Whither Mainstream Economics ?, Berlin, 2008
13th FMM Conference: The World Economy in Crisis - The Return of Keynesianism ?, Berlin, 2009
14th FMM Conference: Stabilizing an unequal economy? Public debt, financial regulation, and income distribution, Berlin, 2010
15th FMM Conference: From crisis to growth? The challenge of imbalances, debt, and limited resources, Berlin, 2011
16th FMM Conference: The State of Economics after the Crisis, Berlin, 2012
17th FMM Conference: The Jobs Crisis: causes, cures, constraints, Berlin, 2013
18th FMM Conference: Inequality and the Future of Capitalism, Berlin, 2014
19th FMM Conference: The Specter of Stagnation? Europe in the World Economy, Berlin, 2015
20th FMM Conference: Towards Pluralism in Macroeconomics? 20 Years Anniversary Conference of the FMM Research Network. Towards Pluralism in Macroeconomics ?, Berlin, 2016
21st FMM Conference: The Crisis of Globalization, Berlin, 2017
22nd FMM Conference: 10 Years after the Crash: What have we learned? Berlin, 2018