Seventh ECB Annual Research Conference

Welcoming remarks

Reconciling the macro and micro evidence on the effects of monetary policy

Isabel Schnabel, Member of the Executive Board, European Central Bank

Session I

Chair: Christiane Nickel, European Central Bank

Price selection in the microdata

Peter Karadi, European Central Bank (together with Raphael Schoenle, Brandeis University, and Jesse Wursten, Katholieke Universiteit Leuven)

Temporary layoffs, loss-of-recall, and cyclical unemployment dynamics

Antonella Trigari, Bocconi University (together with Mark Gertler, New York University, and Christopher Huckfeldt, Cornell University)

Discussant: Fabien Postel-Vinay, University College London and Institute for Fiscal Studies

Coffee break

Session II

Chair: Luc Laeven, European Central Bank

The reserve supply channel of unconventional monetary policy

Yiming Ma, Graduate School of Business (together with William Diamond, Wharton School, University of Pennsylvania, and Zhengyang Jiang, Kellogg School of Management, Northwestern University)

Discussant: Agnese Leonello, European Central Bank

Jean Monnet Lecture

Regulating the tech giants: Competition policy at a crossroad

Jean Tirole, Toulouse School of Economics

Interview with Jean Tirole

End of day one

Session III

Chair: Massimo Rostagno, European Central Bank

Monetary policy in the age of automation

Luca Fornaro, CREI and Universitat Pompeu Fabra (together with Martin Wolf, University of St. Gallen)

Discussant: Morten O. Ravn, University College London

A model of the data economy

Maryam Farboodi, Sloan School of Management, Massachusetts Institute of Technology (together with Laura Veldkamp, Graduate School of Business, Columbia University)

Discussant: Edouard Schaal, CREI and Universitat Pompeu Fabra

Coffee break

Session IV

Chair: Philipp Hartmann, European Central Bank

What can time-series regressions tell us about policy counterfactuals?

Alisdair McKay, Federal Reserve Bank of Minneapolis (together with Christian K. Wolf, Massachusetts Institute of Technology)

Discussant: Daniel J. Lewis, University College London

Lunch

The effect of macroeconomic uncertainty on household spending

Dimitris Georgarakos, European Central Bank (together with Olivier Coibion, University of Texas at Austin, Yuriy Gorodnichenko, University of California, Berkeley, Geoff Kenny, European Central Bank, and Michael Weber, Booth School of Business, University of Chicago)

Discussant: Jeanne Commault, Sciences Po

Coffee break

Debate: The outlook for inflation in the euro area

• Paul R. Krugman, Graduate Center, City University of New York
• Lawrence H. Summers, Kennedy School of Government, Harvard University

Moderator: Beatrice Weder Di Mauro, Geneva Graduate Institute, President of the Centre for Economic Policy Research

End of conference