Speaker: Assoc. Professor Kyle Hanniman (Queen’s University)

Date and time: Thursday 14 November 2024, 11am to 12.30pm

Location: RSSS Room 3.72 or Online via Zoom

Host: ANU School of Politics and International Relations and the Australian Centre for Federalism

In the normative fiscal federalism literature, central governments are generally assigned three tasks: risk sharing, redistribution, and macroeconomic stabilisation. But the recent efforts to stabilise domestic financial markets in the wake of global financial crises clearly represents a fourth.

In this seminar, Hanniman will discuss a number of these stabilisation efforts in wealthy countries since 2008, with a special emphasis on direct efforts of central banks and governments to stabilise subnational bond markets. It also explores the origins, or implications of these policies from three perspectives:

(1) an economic perspective (broadly aligned with the priorities of first-generation fiscal federal research) exploring the normative implications of financial stabilisation;

(2) a political perspective (broadly aligned with the priorities of second-generation fiscal federal research) exploring variation in these measures across federal systems; and

(3) a historical and macroeconomic perspective (which might provide the foundation for a third-generation of fiscal federalism research) explaining why the measures have become so prevalent now.

Further information is available at the School of Politics and International Relations website.

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