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ECB Forum on Central Banking

Investment and growth in advanced economies

Sintra, Portugal, 26-28 June 2017

The fourth annual ECB Forum on Central Banking will focus on investment and growth in advanced economies.

The ECB’s President, Mario Draghi, and Ben Bernanke, Distinguished Fellow in Residence, Brookings Institution, will open the Forum with dinner speeches.

Sessions and panels

During two days of sessions and panels, approximately 150 central bank governors, academics, financial journalists and high-level financial market representatives will exchange views on current policy issues and discuss the chosen topic from a longer-term perspective.

Young economists’ poster session

Posters produced by young economists presenting their research will be on display until 13:30 CET on Wednesday, 28 June.

Participants are invited to talk to the students individually about their research and to rate the posters using the electronic facility provided. Participants’ ratings will serve as input for the selection of the best paper, which will be awarded a prize at the end of the Forum.

Participation is by invitation only.


Programme

Monday, 26 June

18:30

Opening reception and dinner

Opening remarks
Mario Draghi, President, European Central Bank

Dinner hosted by the Executive Board of the European Central Bank

Dinner speech
Ben Bernanke, Distinguished Fellow in Residence, Brookings Institution

Tuesday, 27 June

9:00

Introductory speech

Mario Draghi, President, European Central Bank

9:30

Session 1
Innovation, investment and productivity

Chair: Benoît Cœuré, Member of the Executive Board, European Central Bank

Paper 1: Should we fear productivity growth?
David Autor, Professor, Massachusetts Institute of Technology

Discussant: Dietmar Harhoff, Professor, Max Planck Institute for Innovation and Competition

Paper 2: Is there an investment gap in advanced economies? If so, why?
Thomas Philippon, Professor, New York University
German Gutierrez, PhD student, New York University (co-author)

Discussant: Janice Eberly, Professor, Northwestern University

11:30
Coffee break
12:00

Panel: Innovation, investment and productivity

Chair: Peter Praet, Member of the Executive Board, European Central Bank

Mariana Mazzucato, Professor, University College London
Joel Mokyr, Professor, Northwestern University
Hal Varian, Chief Economist, Google
Reinhilde Veugelers, Professor, University of Leuven

13:30
Lunch
18:30

Reception and dinner

Wednesday, 28 June

9:00

Session 2
Business cycles, growth and macroeconomic policy

Chair: Yves Mersch, Member of the Executive Board, European Central Bank

Paper 1: Sources and mechanisms of stagnation and impaired growth in advanced economies
Robert Hall, Professor, Stanford University

Discussant: Gauti Eggertsson, Professor, Brown University

Paper 2: Growth and the complementarity between structural reforms and macroeconomic policy
Philippe Aghion, Professor, Collège de France

Discussant: Charles Jones, Professor, Stanford University

11:00
Coffee break
11:30

Panel: Business cycles, growth and macroeconomic policy

Chair: Vítor Constâncio, Vice-President, European Central Bank

Agnès Bénassy-Quéré, Professor, Paris-Sorbonne University
Marco Buti, Director General Economic and Financial Affairs, European Commission
Sergei Guriev, Chief Economist, European Bank for Reconstruction and Development
Simon Johnson, Professor, Massachusetts Institute of Technology

13:00
Lunch
14:30

Policy panel

Mark Carney, Governor, Bank of England [TBC]
Mario Draghi, President, European Central Bank
Haruhiko Kuroda, Governor, Bank of Japan [TBC]
Mr Stephen Poloz, Governor, Bank of Canada

Moderator: Christina Romer, Professor, University of California at Berkeley [TBC]

18:30
Dinner hosted by the Banco de Portugal

This programme may be subject to change without notice.