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Venue

Banca d’ Italia
Via Nazionale 190 Rome
Centro Carlo Azeglio Ciampi
& online via Webex

 

Format

hybrid, Rome

Date

Monday, November 18, 2024
Tuesday, November 19, 2024

In cooperation with

The focus of the conference, jointly organized by Bank of Italy and SUERF – The European Money and Finance forum, is on the determinants of the rise and fall of inflation in the post-pandemic period, the implications of a fast-changing inflation environment on agents’ behaviour and expectations, and challenges for policymakers. We aim to provide a platform for researchers from academia, central banks, and other policy institutions to present and discuss their findings related to inflation dynamics and expectations and policy reactions.

Organising committee: Ernest Gnan | SUERF, Marianna Riggi, Tiziano Ropele, Alex Tagliabracci |Bank of Italy

Program

Time
Monday, 18 November 2024
09:00
Welcome address
Luigi Federico Signorini, Senior Deputy Governor, Bank of Italy
09:15
Keynote Speech

Subjective Infation Expectations of Households: Implications for Infation Targeting

Michael Weber, Chicago Booth I SUERF Fellow presentation
10:00
Session 1. The formation mechanism of inflation expectations
Giordano Zevi, Bank of Italy

The causal effect of inflation uncertainty on households beliefs and actions Coibion

Dimitris Georgarakos, ECB presentation

Co-author(s): Yuriy Gorodnichenko, Olivier Coibion, Geoff Kenny

10:40
Coffee break
11:10
Session 1 (continuing). The formation mechanism of inflation expectations

Speaking of inflation the influence of Fed speeches on expectations

Eleonora Granziera, Norges Bank presentation

Co-author(s): Larsen, Meggiorini, Melosi

The effects of interest rate Increases on consumers inflation expectation

Mathieu Pedemonte, Inter-American Development Bank presentation

Co-author(s): Edward Knotek, James Mitchell, Taylor Shiroff

Households' Subjective Expectations: Disagreement, Common Drivers and Reaction to Monetary Policy

Stefano Pica, Bank of Italy presentation

Co-author(s): Clodomiro Ferreira

13:10
Lunch
14:00
SUERF Marjolin Lecture

Inflation and Monetary Policy

Philip R. Lane, Member of the Executive Board of the ECB presentation

Speech

Introduction and moderation
Donato Masciandaro, SUERF President & Bocconi University and Chiara Scotti, Deputy Governor, Bank of Italy

15:00
Session 2. Inflation dynamics and drivers
Chair: Fabrizio Venditti, Bank of Italy

The global inflation shock

Gianluca Benigno, University of Lausanne presentation

Co-author(s): Ozge Akinci, Hunter Clark, and Marius Koechlin

15:40
Coffee break
16:00
Session 2 (continuing). Inflation dynamics and drivers

The Expectations of Other

Ina Hajdini, Cleveland FED presentation

Co-author(s): Ezequiel Garcia-Lembergman, John Leer, Mathieu Pedemonte, Raphael Schoenle 

A Modern History of Inflation as Conflict

Friedrich Geiecke, London School of Economics presentation

Co-author(s): Rustam Jamilov

17:20
SUERF Marjolin Prize
17:30
End Day 1
Time
Tuesday, 19 November 2024
09:35
Keynote Speech

Phillips and Beveridge Curves are Baaack

Pierpaolo Benigno, University of Bern presentation

Co-author(s): Gauti Eggertsson

Chair: Stefano Neri, Bank of Italy I SUERF Council
10:20
Session 3. Pricing behavior, inflation and policy implications
Chair: Ernest Gnan, Secretary General, SUERF

How Curvy is the Phillips Curve?

Philip Bunn, Bank of England presentation

Co-author(s): Lena Anayi, Nicholas Bloom, Paul Mizen, Gregory Thwaites, Ivan Yotzov

11:00
Coffee break
11:30
Session 3 (continuing). Pricing behavior, inflation and policy implications

Strike the Iron while it's hot: Optimal Monetary Policy with (S,s) Pricing

Dominik Thaler, ECB presentation

Co-author(s): Peter Karadi, Anton Nakov, Galo Nuño, Ernesto Pasten

Downward Price Rigidities and Inflationary Relative Demand Shocks

Dennis Bonam, De Nederlandsche Bank presentation

Co-author(s): Bart Hobjin

12:50
Closing remarks

Marianna Riggi, Tiziano Ropele, Alex Tagliabracci (Bank of Italy) and Ernest Gnan (SUERF)

13:00
End Day 2