“Challenges for Global Macroeconomic Stability and the Role of the G7”

At the invitation of the Italian Presidency of the Group of Seven (G7) in 2017, the Istituto Affari Internazionali (IAI) conducted a research project on “Major Challenges for Global Macroeconomic Stability and the Role of the G7” together with a major policy think tank in each of the other G7 member countries:

Center for International Governance Innovation (CIGI, Canada); Centre d’Etudes Prospectives et d’Information Internationales (CEPII, France); Kiel Institute for the World Economy (IfW, Germany); Japan Institute for International Affairs (JIIA, Japan); Royal Institute for International Affairs (Chatham House, United Kingdom); Peterson Institute for International Economics (PIIE, United States). The project covered the following three subjects, representing major challenges for G7 policy-makers: macroeconomic policy coordination; international trade relations; global financial stability.

The volume of conference proceedings is here. Previous discussion of the conference here.

“Reduce Policy Uncertainty, Now”. Recommendations from Seven Think Tanks to G7 Leaders, Fabrizio Saccomanni, p. 7-23
Part I. T7 Policy Papers
1. Co-ordination in Tense Times: Issues for the G7, Anne-Laure Delatte and Sébastien Jean (CEPII), p. 27-50
2. The G7’s Task for Restoring Growth and Stability, Stephen Pickford and Paola Subacchi (Chatham House), p. 51-60
3. A Proposal for G7/G20 Policy Coordination to Strengthen Global Productivity and Output Growth, Malcolm D. Knight (CIGI), p. 61-71
4. A Coordinated Approach to Foster Sustainable Growth and Financial Stability, Fabrizio Saccomanni and Simone Romano (IAI), p. 63-89
5. Reconfirming the Very Basis of G7 Cooperation, Yoichi Otabe (JIIA), p. 91-94
6. Germany Prioritizes the Long-term Goal of Sustainability over the Short-term Goal of Revitalizing the World Economy, Rolf Langhammer, Wolfgang Lechthaler, Stefan Reitz and Mewael F. Tesfaselassie (IfW), p. 95-103
7. G7 Economic Cooperation in the Trump Era, C. Fred Bergsten, Edwin M. Truman and Jeromin Zettelmeyer (PIIE), p. 105-122
Part II. Comments by Discussants
First Session: Macroeconomic Policy Coordination
1. Menzie D. Chinn, p. 125-129
2. Giancarlo Corsetti, p. 131-135
3. Douglas Laxton, p. 137-144
Third Session: Financial Stability
4. Claudio Borio, p. 145-151
5. Luigi Guiso, p. 153-159
Fourth Session: The Role of the G7 in the Global Governance
6. Iain Begg, p. 161-163
7. Domenico Lombardi, p. 165-166
8. William R. White, p. 167-177
Part III. Keynote Speeches
1. Financial Market Volatility and Global Policy Uncertainty: a Conundrum, Ignazio Visco, p. 181-189
2. Priorities for the Italian Presidency of the G7, Raffaele Trombetta, p. 191-193