11th Workshop on Empirical Monetary Economics

The objective is to provide the opportunity to discuss and promote topical empirical research related to all areas of monetary economics. Some particularly relevant topics are:

• Inflation dynamics, commodity prices and inflation expectations
• The identification of the transmission channels of monetary policy
• The role of heterogeneity for monetary policy transmission
• Monetary policy, financial stability and macroprudential policies
• Central bank balance sheet policies and quasi-fiscal monetary policies
• Monetary policy and transition risks related to climate change
• Central bank communication strategies

The workshop will include two keynote speakers Anna Cieslak (Duke University) and Giorgio Primiceri (Northwestern University).

Programme

Tuesday 12 December

8h30–9h          Welcome Coffee

9h–10h30        Session 1

-    Malin Hu (Vanderbilt University), with I. Agarwal, R. Roman, K. Zheng
Lending by Servicing: Monetary Policy Transmission through Shadow Banks
-    Pascal Paul (San Francisco Fed), with D. Greenwald, J. Krainer
Monetary Transmission through Bank Securities Portfolios

10h30–11h      Coffee break

11h–12h          Keynote speaker: Anna Cieslak (Duke University), with M. McMahon Tough Talk: The Fed and the Risk Premium

12h–14h         Lunch (on invitation only)

14h–15h30     Session 2

-     Michael Ehrmann (European Central Bank), with P. Gnan, K. Rieder
Central Bank Communication by ??? The Economics of Public Policy Leaks
-    Evgenia Passari (Université Paris Dauphine-PSL), with D. Malliaropulos, F. Petroulakis
Unpacking Commodity Price Swings: Reading the News to Understand Inflation

15h30–16h     Coffee break

16h–17h30     Session 3

-    Paul Bouscasse (Sciences Po), with S. Hong
Monetary-Fiscal Interactions in the United States
-    Marco Garofalo (Bank of England)
Granular monetary policy 

Wednesday 13 December

8h30–10h        Session 4

-    Lena Boneva (Swiss National Bank), with J. Jensen, S. Weidner
The Impact of Monetary Policy and Lender-of-Last-Resort Announcements on the Treasury Market 
-    Dorian Henricot (Banque de France/ECB), with M. Elsayed, J. Idier, T. Piquard
Habitat sweet habitat: the heterogeneous effects of Eurosystem asset purchase programs

10h–10h30      Coffee break

10h30–12h      Session 5

-    Gert Peersman (Ghent University), with E. Castelnuovo, L. Mori
Commodity Prices and Global Cycles: Monetary Policy Matters
-    Dmitriy Sergeyev (Bocconi University), with W. Miyamoto, T. Nguyen
How Oil Shocks Propagate: Evidence on the Monetary Policy Channel

12h–14h         Lunch (on invitation only)

14h–15h30     Session 6

-    Sebastian Graves (Federal Reserve Board), with C. Huckfeldt, E. Swanson
The Labor Demand and Labor Supply Channels of Monetary Policy
-    Magnus Gulbrandsen (Norges Bank), with A. Fagereng, M. Holm, G. Natvik
Fisher Effects, Monetary Policy, and Household Indebtedness

15h30–16h      Coffee break

16h–17h          Keynote speaker: Giorgio Primiceri (Northwestern University), with F. Bilbiie, A. Tambalotti Inequality and Business Cycles

Organizers 

- Christophe Blot (Sciences Po - OFCE & Université Paris-Nanterre)
- Paul Hubert  (Banque de France & Sciences Po - OFCE)    

Scientific Committee

- Refet Gürkaynak (Bilkent University & CEPR)
- Fabien Labondance (Université de Franche-Comté)
- Céline Poilly (Université d’Aix-Marseille & CEPR)
- Giovanni Ricco (Polytechnique & CEPR) 
- Urszula Szczerbowicz (Banque de France)
 

Registration:  eme.workshop@sciencespo.fr

Program
 

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