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ESCB Challenges for Monetary Policy Transmission in a Changing World (ChAMP) Research Network

3rd Workshop of Workstream 2: Transmission through the real economy

Wednesday, 24 April 2024
European Central Bank
Frankfurt am Main

Programme

* indicates the presenter

8:30

Registration

9:00

Welcome

Emmanuel Dhyne, Nationale Bank van België/Banque Nationale de Belgique
Maria T. Valderrama, Oesterreichische Nationalbank

Session 1: Strength of monetary policy transmission

Chair: Gonzalo Paz Pardo, European Central Bank (tbc)

9:10

Sensitivity of core inflation to monetary policy in the euro area: A granular approach

Anastasia Allayioti*, Lucyna Górnicka, Sarah Holton, and Catalina Martínez Hernández, all European Central Bank

9:50

When is monetary policy more powerful?

Dilan Aydın Yakut*, David Byrne and Robert Goodhead, all Central Bank of Ireland

10:30

Coffee break

Session 2: Monetary policy transmission through labour markets

Chair: Gabriel Smagghue, Banque de France

10:45

Firm level heterogeneity and the impact of monetary policy on labour demand

  • Gert Bijnens*, Nationale Bank van België/Banque Nationale de Belgique
  • John Hutchinson, European Central Bank
  • Arthur Saint Guilhem, Banque de France
11:25

Monetary policy, unemployment, and the firm size distribution

Guido Ascari and Andrea Colciago*, both De Nederlandsche Bank
Marco Membretti, University of Pavia

12:05

Buffet lunch and poster session, together with Workstream 1

Inflation (de-)anchoring in the euro area
  • Valentin Burban, Banque de France
  • Bruno de De Backer*, Nationale Bank van België/Banque Nationale de Belgique
  • Andreea Liliana Vladu, European Central Bank
The macroeconomic consequences of the energy transition: the impact of capital stocks and anticipation on inflation
  • Fanny Henriet, Aix-Marseille School of Economics
  • Noëmie Lisack*, European Central Bank
  • Harri Turunen, Banque de France
Exchange-rate regime breaks and firms' behaviour
  • Cosimo Petracchi, Tor Vergata University of Rome
  • Marco Stenborg Petterson, University of Naples Federico II
  • Luca Riva*, Central Bank of Ireland
Monetary policy and earnings inequality: Inflation-dependencies

Jaanika Meriküll, Eesti Pank and Matthias Rottner*, Deutsche Bundesbank

Session 3: Energy price shocks and monetary policy

Chair: Galo Nuño, Banco de España and BIS

13:30

Energy price shocks, monetary policy and inequality

Alina Bobasu and Michael Dobrew*, both European Central Bank
Amalia Repele, Bocconi University

14:10

The macroeconomic effects of green technology shocks

Fabrizio Ferriani*, Andrea Gazzani and Filippo Natoli, all Banca d’Italia

14:50

Coffee break

Session 4: Production networks

Chair: Emmanuel Dhyne, Nationale Bank van België/Banque Nationale de Belgique

15:05

Large shocks, production networks and state-dependent pricing

Mishel Ghassibe, CREI and Barcelona School of Economics, and Anton Nakov*, European Central Bank

15:45

Monetary policy and production networks: Effects on firms’ investments

Emmanuel Dhyne, Nationale Bank van België/Banque Nationale de Belgique
Glenn Magerman and Alberto Palazzolo*, both ECARES (Université Libre de Bruxelles) and Nationale Bank van België/Banque Nationale de Belgique
16:25

General discussion and way forward

16:55

End of workshop

18:30

Drinks followed by networking dinner

This programme may be subject to change without notice.

This meeting will not be recorded.

General information

Venue

European Central Bank
C3.07
Sonnemannstrasse 20
60314 Frankfurt am Main

Language

English

Transfers

Participants are requested to arrange their own transfers, unless indicated otherwise.

Organising committee
  • Emmanuel Dhyne, Nationale Bank van België/Banque Nationale de Belgique
  • Philipp Hartmann, European Central Bank
  • Gonzalo Paz-Pardo, European Central Bank
  • Maria T. Valderrama, Oesterreichische Nationalbank
Contacts

Gonzalo Paz Pardo
Raquel Gil-Antona

champ_network_ws2@ecb.europa.eu
Website