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International Research Forum on Monetary Policy 2024 – Call for papers

Monetary policy challenges during uncertain times

Tuesday, 16 and Wednesday, 17 April 2024
Federal Reserve Board in Washington, D.C.

The thirteenth conference organised by the International Research Forum on Monetary Policy (IRFMP) will be held at the Federal Reserve Board in Washington, D.C. on 16 and 17 April 2024. The purpose of the IRFMP is to promote the discussion of innovative research on theoretical and empirical macroeconomic issues with relevance for monetary policy.

Topics

Monetary policy currently faces several challenges with considerable uncertainty. Faced with resurgence of inflation around the globe, many central banks tightened their stance in recent years. However, inflation remains elevated. In addition, labor markets are tight amid an ongoing structural shift in a post-pandemic world. As such, in real time, it is challenging to know when monetary policy has achieved a stance that brings inflation down to the central bank inflation targets. There is also continuing debate about current financial stability risks and about the interactions of monetary policy with macroprudential and fiscal policies. The submission of papers addressing these, and related macroeconomic topics is encouraged.

Important questions include:

  • What have been the drivers of the recent inflation surge?

  • How should monetary policy be conducted in times of structural shifts in the economies?
  • How do inflation expectations and labor market conditions affect inflation and the conduct of monetary policy?
  • Does monetary policy have adequate tools to achieve its objectives?
  • How should the stance of monetary policy be assessed and communicated in real time?
  • What are the global spillovers of domestic monetary policies?
  • Do financial factors and financial sector risks affect monetary policy?
  • Should monetary and fiscal policy be coordinated?
  • Which factors explain long-run real interest rates?
  • How should policy be designed under model uncertainty, information frictions and heterogeneous agents/beliefs?

Submissions

Submission deadline: Friday, 15 December 2023

Conference papers will be placed on a website; there will be no conference volume. This call for papers is being circulated widely and further circulation is encouraged, especially to younger economists.

Complete manuscripts (not just abstracts) should be submitted electronically in PDF format through the Cvent portal by 15 December 2023. Authors of accepted papers will be notified by 28 January 2024. Attendance is by invitation only. For questions about the call for papers, please email IRFMP@frb.gov.

The IRFMP is sponsored by the EABCN, the ECB, and the Federal Reserve Board (FRB). It organises biennial conferences that are usually held alternately in Frankfurt and Washington, D.C. The organisers of the 2024 conference are Eleonora Granziera (Norges Bank, EABCN), Matteo Iacoviello (FRB), Peter Karadi (ECB and CEPR), Anna Lipińska (FRB), Bartosz Maćkowiak (ECB and CEPR), Giovanni Nicolò (FRB), Barbara Rossi (ICREA-UPF, BSE, CREI, EABCN and CEPR), and Oreste Tristani (ECB and CEPR).

Previous conferences

12th International Research Forum on Monetary Policy

Issues addressed at the 12th conference included the particular challenges that the coronavirus (COVID-19) pandemic posed to monetary policy.

Programme of the 2022 conference
11th International Research Forum on Monetary Policy

The topic of the 2020 conference was 'Ensuring resilience – role and limitations of monetary policy'. The conference was cancelled. 

Programme of the 2020 conference (cancelled)
10th International Research Forum on Monetary Policy

The 2018 conference was sponsored by the Euro Area Business Cycle Network, the European Central Bank, the Federal Reserve Board, and the Georgetown Center for Economic Research at Georgetown University.

Programme of the 2018 conference
9th International Research Forum on Monetary Policy

The purpose of the IRFMP is to promote the discussion of innovative research on theoretical and empirical macroeconomic issues relevant for monetary policy.

Programme of the 2016 conference
8th International Research Forum on Monetary Policy

The 2014 Forum was sponsored by the European Central Bank, the Federal Reserve Board, the Georgetown Center for Economic Research at Georgetown University, and the Center for Financial Studies at the Goethe University Frankfurt.

Programme of the 2014 conference
7th International Research Forum on Monetary Policy

The 2012 Forum was sponsored by the European Central Bank, the Federal Reserve Board, the BMW Center for German and European Studies at Georgetown University, and the Center for Financial Studies at the Goethe University Frankfurt.

Programme of the 2012 conference