Inflation: Dynamics, Expectations. and Targeting

12/07/2021
All Press Releases In Subject:
Monetary Policy and Inflation

PROGRAMME

Monday, July 12, 2021

10:00 – 10:15

Welcome and opening remarks

Amir Yaron, Governor, Bank of Israel

 

Session I Chair:  Refet S. Gurkaynak, Bilkent University & CEPR


10:15–11:10


                                   Spen​d​ing Allocation UnderNominal Uncertainty: A Model of Effective Price Rigidity​​​

Gaetano Gaballo (HEC Paris and CEPR)

Luigi Paciello (HEC Paris and CEPR)

 

Discussant:                                      Mirko Wiederholt, SciencesPo


 

11:15 – 12:10

                                 New Evidence on MonetaryTransmission: Interest Rate Versus Inflation Target Shocks​

Elizaveta Lukmanova (UCLouvain)

Katrin Rabitsch (Vienna University of Economics and Business)

                                           

Discussant:                                       Yossi Yakhin, Bank of Israel​

 

12:15 – 13:15

Henning Weber – Deutsche Bundesbank

  Estimating the OptimalInflation Target from Trends in Relative Prices​, joint work with Klaus Adams

                                           

 

13:15-14:00    Break

 

Session II  Chair: Michel Strawczynski, Bank of Israel


14:00 – 14:55

                                   Anchoring of Inflation Expectations: Do Inflation Target Formulations Matter?​

 Grosse-Steffen Christoph (Banque de France)


Discussant:                                         Alon Bi​nyamini​, Bank of Israe​l

 

15:00 - 15:55


                                   On the Robustness of Average Inflation Targeting?​  

                              

Seppo Honkapohja (Aalto University School of Business)

Nigel McClung (Bank of Finland)

 

Discussant:       Lilia Maliar,CUNY​

 

 

 

15:55 – 16:25 Break

 

 

16:30 – 17:30


Keynote speaker: John Williams, President and Chief Executive Officer of the Federal Reserve Bank of New York

 

 

Tuesday, July 13, 2021



Session III  Chair: Wouter J. den Haan, LSE & CEPR

 

10:30 – 11:25

                                    Control Costs, Rational Inattention,and Retail Price Dynamics​

James Costain (Banco de Espa˜na )

Anton Nakov (ECB and CEPR)

                                           

Discussant:                                   Alistair Macaulay, Oxford​

 

  

11:30 – 12:25


                                           The Ex​tensive and Intensive Margin of PriceAdjustment to Cost Shocks: Evidence from Danish Multiproduct Firms​​

               

Luca Dedola (ECB and CEPR)

Mark Strøm Kristoffersen, (Fagbevaegelsens Hovedorganistion)

Gabriel Züllig (University of Oxford and Danmarks Nationalbank)

Presentation​

 

Discussant:                                    Almut Balleer, RWTH Aachen​

 

12:30 – 13:25 Break

 

Session IV  Chair: Sigal Ribon, Bank of Israel


13:30 – 14:25 

           

                                     Time-varyin​g Price Flexibility and Inflation Dynamics​


Ivan Petrella (University of Warwick & CEPR)

Emiliano Santoro (University of Copenhagen)

Lasse de la Porte Simonsen (Birbeck College)

 

Discussant: Richard Davies, Bristol University and Economics Observatory

 

14:30-15:25


                                  Optimal Policy u​nder Dollar Pricing​

 

Konstantin Egorov (NES)

Dmitry Mukhin (University of Wisconsin)

                               Presentation​

                                           

Discussant: Vania Stavrakeva, London Business School

 

15:30 – 16:00             Break

 

 

16:00-17:15  

             

Policy Panel:

 Amir Yaron              Governor, Bank of Israel - Moderator

                                 Stefan Ingves​  Governor and Chairman of the Executive Board, Severiges Riksbank

Thomas Jordan        Chairman of the Governing Board, Swiss National Bank

                                 Jiri Rusnok  Governor, Czech National Bank

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