Danmarks Nationalbank, Deutsche Bundesbank and Norges Bank organize a joint conference on new modeling approaches and novel empirical evidence on inflation dynamics.

The meeting will be the twelfth event in the annual conference series New Developments in Business Cycle Analysis bringing together economists from academia and central banks focused on understanding the impact of the return of inflation near its target on the macroeconomic environment, and its implications for policymaking.

Program 

Monday, 22 September

8:30 – 9:00      Registration

9:00 – 10:00    Keynote address: TBA

Corina Boar (New York University)

10:00 – 11:00  The granular origins of inflation

Sarah Lein (University of Basel) with Santiago Alvarez-Blaser (Harvard Business School), Raphael Auer (BIS) and Andrei Levchenko (University of Michigan)

Discussant: Anastasia Burya (University of Bern)

11:00 – 11:30    Coffee Break

11:30 – 12:30    Keynote address: TBA

                         Jordi Galí (CREI-Universitat Pompeu Fabra)

12:30 – 13:30   Lunch

13:30 – 14:30    Poster session

14:30 – 15:30    Banks and the state-dependent effects of monetary policy

Mathias Trabandt (Goethe University Frankfurt) with Martin Eichenbaum (Northwestern University), Federico Puglisi (Banca d’Italia) and Sergio Rebelo (Northwestern University)

Discussant: Davide Debortoli (Universitat Pompeu Fabra)

15:30 – 15:45      Coffee Break

15:45 – 17:15       Demand shocks and prices: Micro evidence and macro implications

Tobias Renkin (Danmarks Nationalbank) with Christian Hoeck (University of Copenhagen)

Inequality&risk: Facts and implications from consumption transactions

Drago Bergholt (Norges Bank) with Francesco Furlanetto (Norges Bank) and Lorenzo Mori (Banca d’Italia)

Optimal inflation with firm level shocks

Henning Weber (Deutsche Bundesbank) with Anton Nakov (ECB)

19:00    Aperitif at Kranen (rooftop of Munch Museum)

20:00    Conference dinner at Brasserie Rivoli

Tuesday, 23 September

9:00 – 10:00    Micro and macro cost-price dynamics in normal times and during inflation  surges

Simone Lenzu (New York University Stern School of Business) with Luca Gagliardone (Cowles Foundation at Yale University), Mark Gertler (New York University) and Joris Tielens (National Bank of Belgium)

Discussant: Erwan Gautier (Banque de France)

10:00 – 11:00   What flattens the supply curve?

Evi Pappa (University Carlos III Madrid) with Edwin Ahlander (Stockholm University) and Mathias Klein (Sveriges Riksbank)

 Discussant: Almut Baleer (RWI Essen)

11:00 – 11:30    Coffee Break

11:30 – 12:30    Keynote address: TBA

                          Vincent Sterk (University College London)

12:30 – 13:30     Lunch

13:30 – 14:30    The information channel and the Fed response to news: An Occam’s razor  and falsification approach

Giovanni Ricco (Ecole Politechnique CREST) with Emanuele Savini (University of Warwick)

                  Discussant: Francesca Monti (Université Catholique de Louvain)

14:30 – 16:00   Long-run inflation and financial panics

Dominik Menno (Deutsche Bundesbank) with Nikolay Hristov (Deutsche Bundesbank)

Estimating the elasticity of intertemporal substitution using dividend tax news

Plamen Nenov (Norges Bank) with Martin Holm (University of Oslo), Rustam Jamilov (University of Oxford) and Marek Jasinski (Statistics Norway)

                  Safety in unemployment and risk experimentation of startups

Seho Kim (Danmarks Nationalbank) with Javier Miranda (IWH Halle) and Renato Faccini (Danmarks Nationalbank)

Posters:

The macroeconomic and distributional effects of energy price shocks in a small open economy
Emma Gundersen (Danmarks Nationalbank)

Global temperatures and inflation: More volatile, less homogeneous inflation pressures across countries
Sarah Hjortshøj Papsø (Danmarks Nationalbank)

Import tariff transmission in a production network
Felix Strobel (Deutsche Bundesbank) with Makram Khalil (Deustche Bundesbank) and Pierre Rouillard

Beyond the short-run: Monetary policy and innovation investment
Olga Goldfayn-Frank (Deutsche Bundesbank) with Michaela Elfsbacka-Schmöller (ECB) and Tobias Schmidt (Deutsche Bundesbank)

When monetary policy bites: State-level evidence on wages
Knut Are Aastveit (Norges Bank) with Jonas Hölz (BI Norwegian Business School), Nicoló Maffei-Faccioli (Norges Bank) and Gisle Natvik (BI Norwegian Business School)

Monetary policy and inflation dynamics in the presence of switching inflation expectations
Pål Ulvedal (Nord Universitet) with Junior Maih (Norges Bank)

Inflation and the gender wage gap: The role of beliefs
Nicolo’ Maffei-Faccioli (Norges Bank) with Lovisa Reiche (BI Norwegian Business School)

Understanding the prevalence of demand shocks in the recent inflation surge: An international perspective
Inga Nielsen Friis (Norges Bank), Kristine Matsen (Norges Bank) with Francesco Furlanetto (Norges  Bank) and Ørjan Robstad (Norges Bank)