ECB Forum on Central Banking 2022

Opening reception and dinner

Welcome remarks

Christine Lagarde, President, European Central Bank

Dinner hosted by the Executive Board of the European Central Bank

Dinner speech

Ngozi Okonjo-Iweala, Director-General, World Trade Organization

Introductory speech

Christine Lagarde, President, European Central Bank

Session 1: Globalisation and labour markets in the post-pandemic economy

Chair: Philip R. Lane, Member of the Executive Board, European Central Bank

Paper: “The macro implications of globotics: service price deflation and structural unemployment”

Richard Baldwin, Professor, Graduate Institute Geneva

Discussant: Barbara Petrongolo, Professor, University of Oxford

Session 2: Energy price volatility and energy sources in Europe

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

Paper: “The effect of rising energy prices amid geopolitical developments and supply disruptions”

Hilde C. Bjørnland, Professor, BI Norwegian Business School

Discussant: Christian Zinglersen, Director, European Union Agency for the Cooperation of Energy Regulators

Coffee break and poster session for the Young Economist Prize

Panel 1: Central bank digital currencies and the digital euro project

Chair: Fabio Panetta, Member of the Executive Board, European Central Bank

• Markus K. Brunnermeier, Professor, Princeton University
• Sir Jon Cunliffe, Deputy Governor for Financial Stability, Bank of England
• Neha Narula, Director, Digital Currency Initiative, Massachusetts Institute of Technology Media Lab
• Cecilia Skingsley, First Deputy Governor, Sveriges Riksbank

Lunch

Reception and dinner hosted by the Executive Board of the European Central Bank

Session 3: Real estate boom-bust cycles and monetary policy

Chair: Luis de Guindos, Vice-President, European Central Bank

Paper: “Real estate booms and busts and monetary policy in Europe”

John Muellbauer, Professor, Nuffield College, University of Oxford

Discussant: Giovanni Dell’Ariccia, Deputy Director Research, International Monetary Fund

Session 4: Global value chains, supply bottlenecks and international trade

Chair: Luis de Guindos, Vice-President, European Central Bank

Paper: “Global supply chain pressures, international trade and inflation”

Şebnem Kalemli-Özcan, Professor, University of Maryland (together with Julian di Giovanni, Federal Reserve Bank of New York, Álvaro Silva, University of Maryland, and Muhammed Yıldırım, Harvard University)

Discussant: Gabriel Felbermayr, Director, Austrian Institute of Economic Research

Coffee break

Panel 2: The role of inflation expectations in monetary policymaking

Chair: Isabel Schnabel, Member of the Executive Board, European Central Bank

• Ulrike Malmendier, Professor, University of California at Berkeley
• Loretta J. Mester, President, Federal Reserve Bank of Cleveland
• Erik Nielsen, Group Chief Economic Advisor, UniCredit
• Ricardo Reis, Professor, London School of Economics

Lunch

Policy panel

• Andrew Bailey, Governor, Bank of England
• Agustín Carstens, General Manager, Bank for International Settlements
• Christine Lagarde, President, European Central Bank
• Jerome Powell, Chair, Federal Reserve Board of Governors

Moderator: Francine Lacqua, Anchor and Editor-at-Large, Bloomberg Television

Award ceremony for the Young Economist Prize

Closing remarks

Christine Lagarde, President, European Central Bank

Group photo (all participants)

Reception and dinner hosted by the Banco de Portugal