2015 - Programme Distributional implications of the crisis and policy responses

Programme

THURSDAY, 19 NOVEMBER 2015 - Board room at DNB 

8:45-9:30         Registration with coffee/tea 

9:30-9.45         Opening address: Frank Elderson (Executive Director of DNB)Opening speech

SESSION I: Income and wealth inequality

Chair: Andrea Colciago (DNB)

9:45-10:45        Fabrizio Perri (Federal Reserve of Minneapolis) Presentation
Macroeconomics and Heterogeneity,  Including Inequality
Discussant: Carlos Thomas (Banco de España)   Discussion

10:45-11:15      Coffee break 

11:15-12:15      Michael Kumhof (Bank of England), Romain Ranciere, Alexander Richter, Thomas Theobald, Nathaniel Throckmorton, Till van Treeck and Pablo Winant  Presentation
“Income Inequality and Current Account Imbalances”
Discussant: Nuño Alves (Banco de Portugal)  Discussion
 
12:15-13:30      Lunch in Foyer, at 1st floor of DNB
 
13:30-14:30      Keynote Address: Charles Goodhart (London School of Economics)
‘Distributional implications of the crisis and policy responses’ 

SESSION II: Inequality and the financial system

 Chair: Kostas Mavromatis (University of Amsterdam)
 
14:30-15:30      Olivier Coibion, Yuriy Gorodnichenko, Marianna Kudlyak (Federal Reserve of Richmond) and John Mondragon “Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data
Discussant: Vanda Almeida (Paris School of Economics)  Discussion
 
15:30-16:00      Coffee break 
 
16:00-17:00      Robin Döttling and Enrico Perotti (University of Amsterdam)  Presentation
Mortgage Finance and Technological Change
Discussant: Gregory Thwaites (Bank of England)  Discussion
 
18:00-21:00      Dinner

FRIDAY, 20 NOVEMBER 2015 – Board room at DNB 

9:00-9:15         Registration with coffee/tea

Session III: The redistributive channel of monetary policy

Chair: Jakob de Haan (DNB)
 
9:30-10:15        Keynote speech: Markus Brunnermeier (Princeton University)  Presentation
“Redistributive Monetary Policy and the I Theory of Money”        
 
10:15-11:15      Vincent Sterk (University College London) and Silvana Tenreyro  Presentation
The Transmission of Monetary Policy Operations through Redistributions and Durable Purchases
Discussant: Francesco Zanetti (Oxford University)  Discussion
 
11:15-11:30      Coffee break    
 
11:30-12:30      Adrien Auclert (Stanford University)  Presentation
Monetary Policy and the Redistribution Channel
Discussant: Christian Stoltenberg (University of Amsterdam)  Discussion

12:30-13:30      Lunch in Foyer, at 1st floor of DNB 

13:30-15:00      Policy panel: Martin Hellwig (Max Planck Institute for Research on Collective Goods), Luc Laeven (European Central Bank), Klaas Knot (DNB), Piergiorgio Alessandri (Banca d’Italia)
Moderator: William White (OECD)

SESSION IV: Distributional consequences of monetary policy

Chair: Christiaan Pattipeilohy (DNB)
 
15:00-16:00      Niels Gornemann, Keith Kuester (University of Bonn) and Makoto Nakajima “Doves For the Rich, Hawks for the Poor? Distributional Consequences of Monetary Policy
Discussant: Agnieszka Markiewicz (Erasmus University Rotterdam)  Discussion
 
16:00-16:15      Coffee break
 
16:15-17:15      Jakob de Haan (DNB) and Jan-Egbert Sturm (ETH and KOF Zurich) “Does Economic Reform Lead to More Income Inequality?”
Discussant: Richhild Moessner (Bank of International Settlements)
 
17:15-18:15      Farewell drinks