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ECB Conference on Monetary Policy: bridging science and practice

Monday, 11 and Tuesday, 12 October 2021
Online Event

The conference is the ECB’s annual flagship event focusing on frontier issues of monetary policy. It brings together leading academics and central bankers to exchange views on the science and practice of monetary policy. The conference features research presentations and keynote speeches. They will cover a wide range of topics connected to monetary policy such as financial markets, bank-based transmission, monetary-fiscal interaction, and climate change.

Programme

Times are Central European Summer Time (UTC+2)

* indicates the presenter

Monday, 11 October 2021
14:00

Welcome address

Philip Lane, Chief Economist, European Central Bank

14:15

Keynote speech: Monetary and Fiscal Policy Interactions

Kenneth Rogoff, Harvard University

15:15

Session 1 - Monetary policy decision making and financial markets

Chair: Imène Rahmouni, European Central Bank

15:15

An Alternative Explanation for the "Fed Information Effect"

  • Michael D. Bauer*, Universität Hamburg
  • Eric T. Swanson, University of California, Irvine
15:55

Monetary policymakers’ uncertainty

  • Anna Cieslak*, Duke University
  • Stephen Hansen, Imperial College Business School
  • Michael McMahon, University of Oxford
  • Song Xiao, London School of Economics
16:35
Break
16:45

Session 2 - Monetary policy, banks and firms

Chair: Luc Laeven, European Central Bank

16:45

COVID-19 and SME Failures

17:25

Have Banks Caught Corona?

  • Thorsten Beck*, Florence School of Banking and Finance
  • Jan Keil, Humboldt University of Berlin
18:05

End of first conference day

Tuesday, 12 October 2021
15:00

Opening remarks

Frank Elderson, Member of the Executive Board, European Central Bank

15:10

Keynote speech: The Macroeconomic Consequences of Uncertain Climate Change

Lars Peter Hansen, University of Chicago
Climate change uncertainty spillover in the macroeconomy
Central banking challenges posed by uncertain climate change and natural disasters

16:10
Break
16:30

Session 3 - Monetary policy, inflation and financial stability

Chair: Massimo Rostagno, European Central Bank

16:30

Monetary policy and endogenous financial crises

  • Frédéric Boissay, Bank for International Settlements
  • Fabrice Collard, Toulouse School of Economics
  • Jordi Galí*, Universitat Pompeu Fabra
  • Cristina Manea, Deutsche Bundesbank
17:15

Monetary policy, fiscal policy and inflation expectations

Yuriy Gorodnichenko, University of California, Berkeley

18:00
Conference end

Please note that this programme may be subject to change without notice.

General information

Venue

WebEx events

Conference language

English

Organising committee

  • Carlo Altavilla
  • Wolfgang Lemke
  • Roberto Motto
  • Oreste Tristani

all European Central Bank

Contacts

Ana Maria Lupu
+49 69 1344 0
conf.mon.pol@ecb.europa.eu

The event may be filmed and the video recording, or parts of it, may be published on the internet/intranet.