The International Trade and Macroeconomics (ITM) Program of the Central Bank Research Association (CEBRA) is proud to announce its inaugural conference:

“International Trade and Macroeconomic Interdependence in the Age of Global Value Chains,” Bank of Lithuania, Vilnius, 15-16 September 2016

The deadline for submissions is Saturday 30 April 2016.

This conference is organized by the Bank of Lithuania, the National Bank of Poland, CEPR, and CEBRA’s ITM Program. The Organizing Committee welcomes submissions of empirical and theoretical papers. Topics of interest include (but are not restricted to):

– Measurement of GVCs
– GVCs and macroeconomic interdependence
– Real integration and inflation
– Participation in GVCs and economic performance
– GVCs and services
– Trade and macroeconomic policy implications of GVCs

Keynote Speakers:
Richard Baldwin (The Graduate Institute, Geneva, and CEPR)
Fabio Ghironi (University of Washington, Seattle, CEBRA, and CEPR)

Organizing Committee:
Michal Brzoza-Brzezina (National Bank of Poland and CEBRA)
Mihnea Constantinescu (Bank of Lithuania and CEBRA)
Fabio Ghironi (University of Washington, Seattle, CEBRA, and CEPR)
Jan Hagemejer (National Bank of Poland)
Gianmarco Ottaviano (London School of Economics, CEBRA, and CEPR)

How to submit
Authors who are CEPR members can upload their submission on Authors who are not CEPR members can email their submission to Chloe Smith at Please indicate in your email whether you will be able to cover your own travel and accommodation costs, or whether you will require funding.

For further details and submission information, see the below link to the call for papers.

The International Trade and Macroeconomics Program brings together researchers with interests at the intersection of international trade and international macroeconomics. A large literature has been developing in this area in the last fifteen years, with important contributions from academic and policy researchers alike. The topics covered in theoretical and empirical work range from macroeconomic interdependence with micro-level trade dynamics to foreign direct investment, markup determination and price dynamics, trade and labor markets, global value chains, trade finance, and several others. The tools developed in this literature are being applied to policy questions of interest to central banks, such as the optimal conduct of monetary policy and the implications of different exchange rate arrangements, or the understanding of macroeconomic dynamics in an increasingly integrated world of global value chains.

The ITM Program fills a gap in the existing environment of research organizations by gathering both established and young researchers in this fast-growing research area and providing a forum for interaction, development of ideas, and their dissemination. To fulfill this goal, the Program’s activities include an annual conference hosted by a central bank within the CEBRA network. By including both academics and researchers at central banks and other policy institutions and promoting their interaction, the Program seeks to pursue both excellence in cutting-edge research and its application to the most important policy-relevant questions.

Additional information is available at

Should you wish to co-organize an event with this Program, please contact the Program Director Fabio Ghironi ( or