Conference

Welcome address

Vítor Constâncio, Vice-President, European Central Bank

Session 1

Chair: Frank Smets, European Central Bank

Deadly embrace: sovereign and financial balance sheets doom loops, slides

Emmanuel Farhi, Harvard University
with Jean Tirole, Toulouse School of Economics
Discussant: Marie Hoerova, European Central Bank, slides

The power of forward guidance revisited, slides

Alisdair McKay, Boston University
with Emi Nakamura, Columbia University and Jón Steinsson, Columbia University
Discussant: Mark Giannoni (Federal Reserve Bank of New York), slides

Session 2

Chair: Günter Coenen, European Central Bank

Unemployment (fears) and deflationary spirals, slides

Wouter den Haan, London School of Economics
with Pontus Rendahl, University of Cambridge and Markus Riegler, University of Bonn
Discussant: Christian Bayer, University of Bonn, slides

Labor force participation, wage rigidities and inflation, slides

Marianna Riggi, Banca d'Italia
with Francesco Nucci, Sapienza, University of Rome
Discussant: Regis Barnichon, CREI, slides

Monetary policy according to HANK, draft, slides

Benjamin Moll, Princeton University
with Greg Kaplan, Princeton University and Gianluca Violante, New York University
Discussant: Keith Kuester, University of Bonn, slides

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

Session 3

Chair: Massimo Rostagno, European Central Bank

Empirical properties of inflation expectations and the zero lower bound, slides

Mirko Wiederholt, Goethe University Frankfurt
Discussant: Lena Körber, Bank of England, slides

How do firms form their expectations? New survey evidence, slides

Yuriy Gorodnichenko, University of California, Berkeley
with Olivier Coibion, University of Texas at Austin and Saten Kumar, Auckland
University of Technology
Discussant: Luigi Paciello, Einaudi Institute for Economics and Finance, slides

Session 4

Chair: Roberto Motto, European Central Bank

Policy spillovers and synergies in a monetary union, slides

Carlos Thomas, Banco de España
with Óscar Arce and Samuel Hurtado, Banco de España
Discussant: Stefano Neri, Banca d'Italia, slides

Financial heterogeneity and monetary union, slides

Simon Gilchrist, Boston University
with Raphael Schoenle, Brandeis University; Jae W. Sim and Egon Zakrajsek, Federal Reserve Board of Governors
Discussant: Fabio Canova, BI Norwegian Business School, slides

European Central Bank
Sonnemannstrasse 20
60314 Frankfurt am Main
Conference room C3.08/09, Grossmarkthalle

Tel.: +49 (0) 69 1344 0
Fax: +49 (0) 69 1344 6000
E-mail: info@ecb.europa.eu

Ms Akuvi Edzave
Directorate General Communications
Outreach Division
Tel.: +49 (0) 69 1344 7321
E-mail: DGC-Events@ecb.europa.eu