Second ECB Annual Research Conference

25 and 26 September 2017

Main Building, European Central Bank, Frankfurt am Main
Conference Room C5.01, Grossmarkthalle

Conducting state-of-the-art research is one of the ECB’s core tasks. World-class research and dialogue between economists in academia and in central banks has become all the more important as the number and complexity of issues relevant for the ECB have grown in the post-crisis world.

The ECB Annual Research Conference is the ECB’s flagship research event covering the fields of monetary economics and finance, bringing together some of the leading academics in these fields. The conference features a keynote lecture named in honour of Jean Monnet, which is delivered by an outstanding academic on a topic of relevance to strengthening European Monetary Union.

YouTube stream of the Jean Monnet Lecture, Tuesday 26 September 2017, 14:00-15:00

Programme

Conference brochure

Monday, 25 September 2017

8:30
Registration and coffee
9:00

Welcome address

Vítor Constâncio, Vice-President, European Central Bank

Watch

9:30

Paper 1 - Payments, credit and asset prices

Chair: Pedro Gustavo Teixeira, European Central Bank
Presenter: Monika Piazzesi, Stanford University, Graduate School of Business
Discussant: Pierre Collin-Dufresne, École Polytechnique Fédérale de Lausanne

10:30
Coffee break
11:00

Paper 2 - Mortgage design in an equilibrium model of the housing market

Chair: Ulrich Bindseil, European Central Bank
Presenter: Arvind Krishnamurthy, Stanford University, Graduate School of Business
Discussant: Victoria Ivashina, Harvard Business School

12:00

Paper 3 - Life below zero: bank lending under negative policy rates

Chair: Chiara Zilioli, European Central Bank
Presenter: Glenn Schepens, European Central Bank
Discussant: Wouter den Haan, London School of Economics

13:00
Lunch
14:00

Paper 4 - Rational inattention and inference from market share data

Chair: Frank Smets, European Central Bank
Presenter: John Leahy, University of Michigan
Discussant: Bartosz Maćkowiak, European Central Bank

15:00
Coffee Break
15:20

Paper 5 - The tail that wags the economy: beliefs and persistent stagnation

Chair: Aurel Schubert, European Central Bank
Presenter: Laura Veldkamp, New York University
Discussant: Alberto Martin, Centre de Recerca en Economia Internacional

16:20
Coffee break
16:45

Panel discussion: Exit from non-standard monetary policy

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

Panellists:
Olivier Blanchard, Peterson Institute for International Economics
Hyun Shin, Bank for International Settlements
Jeremy Stein, Harvard University
Additional panellist

18:15

Adjourn

19:30

Conference dinner – upon invitation only

Tuesday, 26 September 2017

8:30
Registration and coffee
9:00

Paper 6 - Globalization, inequality and welfare

Chair: Frank Moss, European Central Bank
Presenter: Pol Antràs, Massachusetts Institute of Technology
Discussant: Samuel Kortum, Yale University

10:00
Coffee break
10:30

Paper 7 - Heterogeneity and persistence in returns to wealth

Chair: Christine Graeff, European Central Bank
Presenter: Luigi Guiso, Einaudi Institute for Economics and Finance
Discussant: Kjetil Storesletten, University of Oslo and Norges Bank

11:30
Coffee break
12:00

Paper 8 - The elusive costs of inflation: price dispersion during the US Great Inflation

Chair: Massimo Rostagno, European Central Bank
Presenter: Emi Nakamura, Columbia University
Discussant: Jordi Galí, Centre de Recerca en Economia Internacional

13:00
Lunch
14:00

Jean Monnet Lecture: Good Pension Design

Chair: Peter Praet, Member of the Executive Board, European Central Bank
Presenter: Peter Diamond, Massachusetts Institute of Technology

15:00

Adjourn

This programme may be subject to change without notice.

General information

Conference venue

European Central Bank
Main building, Conference Room C5.01
Sonnemannstrasse 20
60314 Frankfurt am Main

+49 69 1344 0
Fax: +49 69 1344 6000
info@ecb.europa.eu

Conference language

English

Transfers

Participants are requested to arrange their own transfers, unless indicated otherwise.

Contacts

Sabine Wiedemann
Directorate General Research
+49 69 1344 6436
ARConference@ecb.europa.eu

Directorate General Communications
Outreach Division
DGC-Events@ecb.europa.eu

Conference email