Challenges for Monetary Policy Transmission in a Changing World (“ChaMP”) - Day2

Inaugural conference of the ChaMP Research Network
Challenges for Monetary Policy Transmission in a Changing World (“ChaMP”)
Frankfurt am Main
This conference marks the launch of the ChaMP Research Network, which focuses on challenges for monetary policy transmission, amid unprecedented shocks, structural changes and shifting inflation dynamics. It consists of researchers from the ECB and all EU national central banks. Its main goal is to develop research to understand further how these changes have affected the speed, strength, and heterogeneity of monetary policy transmission in the euro area and the European Union.
Programme
* indicates the presenter
Friday, 26 April 2024
Session 3 - Climate risks and challenges for monetary policy transmission
Session chair: Galo Nuño, Banco de España and Bank for International Settlements
8:50
Climate Risk, Bank Lending and Monetary Policy
Carlo Altavilla, European Central Bank
Miguel Boucinha, European Central Bank
Marco Pagano*, University of Naples Federico II
Andrea Polo, Luiss University
Discussant: Vasso Ioannidou, City University of London, Bayes Business School
9:45
The New Keynesian Climate model
Jean-Guillaume Sahuc, Banque de France
Frank Smets, European Central Bank
Gauthier Vermandel*, École Polytechnique
Discussant: Philipp Pfeiffer, European Commission
10:40
Coffee break and Poster session**
11:00
Policy panel: Current issues for monetary policy transmission in Europe
Chair: Katrin Assenmacher, European Central Bank
Panellists:
Silvia Ardagna, Managing Director and Head of European Economics Research, Barclays
Mario Centeno, Governor, Banco de Portugal
Benoit Mojon, Head of Economic Analysis, Bank for International Settlements
Ricardo Reis, Professor of Economics, London School of Economics
Session 4 - Monetary policy transmission through non-banks
Session chair: Laura Moretti, Central Bank of Ireland
14:15
Quantitative Easing, the Repo Market, and the Term Structure of Interest Rates
Ruggero Jappelli*, Goethe University Frankfurt
Loriana Pelizzon, Leibniz Institute for Financial Research SAFE
Marti G. Subrahmanyam, New York University
Discussant: Refet S. Gürkaynak, Bilkent University
15:10
Monetary policy transmission through online banks
Samuel Earnest, University of Chicago
Isil Erel*, The Ohio State University
Jack Liebersohn, University of California, Irvine
Constantine Yannelis, University of Chicago
Discussant: Ralf Meisenzahl, Federal Reserve Bank of Chicago
16:05
Coffee break and Poster session**
Session 5 - Business cycles, monetary policy and long-run effects
Session chair: María T. Valderrama, Oesterreichische Nationalbank
16:20
Do Recessions Slow Technology Growth? Evidence from the Firm Level
Michaela Elfsbacka-Schmöller*, Suomen Pankki - Finlands Bank
Olga Goldfayn-Frank, Deutsche Bundesbank
Tobias Schmidt, Deutsche Bundesbank
Discussant: Paloma López-García, European Central Bank
17:15
Non-Essential Business Cycles
Michele Andreolli*, Boston College
Natalie Rickard, London Business School
Paolo Surico, London Business School
Discussant: Peter Karadi, European Central Bank
18:10
End of conference