MONDAY, 9 OCTOBER 2017 - Board room at DNB
8:45-9:30 Registration with coffee/tea
9:30-9:45 Opening address: Jan Marc Berk (Division Director Economic Policy and Research at DNB)
SESSION I: Incomplete Markets, Zero lower bound and Redistribution
Chair: Andrea Colciago (DNB and Milano Bicocca)
9:45-10:45 The New Keynesian Cross: Understanding Monetary Policy with Hand-to- Mouth Households
Presenter: Florin Bilbiie (PSE, Paris 1 and CEPR)
Discussant: Adam Elbourne (CPB) Discussion
10:45-11:15 Coffee break
11:15-12:15 Designing QE to overcome the lower bound constraint on interest rates in a fiscally sound monetary union
Presenter: Leo Von Thadden (ECB) Presentation
Discussant: Keith Kuester (Bonn University) Discussion
12:15-13:30 Lunch in Foyer
13:30-14:30 Keynote Address: John Cochrane (Hoover Institute at Stanford University) Presentation
Michelson-Morley, Fisher, and Occam: The Radical Implications of Stable Quiet Inflation at the Zero Bound
SESSION II, Part 1: Price level determination
Chair: Peter van Els (DNB)
14:30-15:30 A Demand Theory of the Price Level
Presenter: Marcus Hagedorn (University of Oslo) Presentation
Discussant: Luigi Iovino (Bocconi University and IGIER) Discussion
15:30-16:00 Coffee break
16:00-17:30 Policy Panel: John Cochrane (Stanford University), Christopher Sims (Princeton University), Frank Smets (ECB)
Moderator: Jakob De Haan (DNB and University of Groningen)
18:30-21:30 Conference Dinner
TUESDAY, 10 OCTOBER 2017 - Board room at DNB
8:45-9:15 Registration with coffee/tea
SESSION II, Part 2: Price level determination
Chair: Robert Vermeulen (DNB)
09:15-10:15 Controlling Inflation with timid monetary-fiscal regime changes
Presenter: Guido Ascari (University of Oxford and Pavia) Presentation
Discussant: Kostas Mavromatis (DNB) Discussion
SESSION III: Fiscal-Monetary Interaction in Monetary Unions
Chair: Gabriele Galati (DNB)
10:15-11:15 Generalized stability of monetary unions under regime switching in monetary and fiscal policies
Presenter: Dennis Bonam (DNB) Presentation
Discussant: Jean Barthélemy (Sciences Po - Banque de France) Discussion
11:15-11:30 Coffee break
11:30-12:30 Dynamic fiscal limits and monetary-fiscal policy interactions in the euro area
Presenter: Niccolò Battistini (ECB)
Discussant: Raffaele Rossi (University of Manchester)
12:30-13:30 Lunch in Foyer
13.30-14.30 Keynote speech: Christopher Sims (Princeton University) Presentation
14:30-15:00 Coffee break
SESSION IV: Implications of Large Central Banks Balance Sheet
Chair: Aerdt Houben (DNB)
15:00-16:00 Non-Neutrality of Open-Market Operations
Presenter: Salvatore Nisticò (Sapienza Università di Roma) Presentation
Discussant: Vivien Lewis (KU Leuven) Discussion
16:00-16:15 Coffee break
16:15-17:15 A Large Central Bank Balance Sheet? The Role of Interbank Market Frictions
Presenter: Dominik Thaler (Banco de España) Presentation
Discussant: Robert Vermeulen (DNB)