MONDAY, 30 September 2019 - Board room at DNB
8:45-9:30 Registration with coffee/tea
9:30-9:45 Opening address: Klaas Knot
(Governor, De Nederlandsche Bank)
SESSION I: Inspecting the transmission mechanism: roots and consequences of price stickiness
Chair: Andrea Colciago (DNB, University of Milano Bicocca)
9:45-10:45 Paralyzed by fear: rigid and discrete pricing under demand uncertainty
by Cosmin Ilut (Duke University), Rosen Valchev (Boston College) and Nicolas Vincent (HEC Montreal) Paper Presentation
Discussant: Krisztina Molnar (Norwegian School of Economics) Presentation
10:45-11:15 Coffee break
11:15-12:15 Sticky prices and the transmission mechanism of monetary policy: a minimal test of New Keynesian models
by Timo Haber (University of Cambridge) and Guido Ascari (University of Oxford) Paper Presentation
Discussant: Anton Nakov (European Central Bank) Presentation
12:15-13:30 Lunch in Foyer
13:30-14:30 Keynote peech: Routes to Nonlinearity in Equilibrium Business Cycle Models
Jesus Fernandez-Villaverde (University of Pennsylvania) Presentation
SESSION II: Uncertainty shocks
Chair: Gabriele Galati (DNB)
14:30-15:30 Uncertainty, real activity, and risk aversion during the Great Recession by Giovanni Pellegrino (Aarhus University), Giovanni Caggiano (Monash University) and Efrem Castelnuovo (University of Melbourne) Paper Presentation
Discussant: Kostantinos Theodoridis (Cardiff Business School) Presentation
15:30-16:00 Coffee break
16:00-17:30 Policy Panel: Athanasios Orphanides (MIT), Ulf Soderstrom (Sveriges Riksbank), Frank Smets (European Central Bank) Presentation Athanasios Orphanides Presentation Frank Smets
Moderator: Jakob De Haan (DNB, University of Groningen)
18:30-21:30 Conference Dinner (by invitation only)
TUESDAY, 1 October 2019 “ Board room at DNB
8:45-9:15 Registration with coffee/tea
SESSION II: Uncertainty shocks
Chair: Gabriele Galati (DNB)
09.15-10:15 The impact of uncertainty and certainty shocks
by Yves S. Schüler (Deutsche Bundesbank) Paper Presentation
Discussant: Andreas Pick (Erasmus University Rotterdam, DNB) Presentation
SESSION III: Monetary policy under incomplete information
Chair: Tjerk Kroes (DNB, Head of Policy and Research)
10:15-11:15 Indeterminacy and imperfect information
by Thomas Lubik (Richmond Fed), Christian Matthes (Indiana University) and Elmar Mertens (Deutsche Bundesbank) Paper Presentation
Discussant: Mark Weder (Aarhus University) Presentation
11:15-11:30 Coffee break
11:30-12:30 Can more public information raise uncertainty? The international evidence on forward guidance
by Michael Ehrmann (European Central Bank), Gaetano Gaballo (Banque de France), Peter Hoffmann (European Central Bank) and Georg Strasser (European Central Bank) Paper Presentation
Discussant: Kostas Mavromatis (DNB)
12:30-13:30 Lunch in Foyer
13.30-14:30 Keynote speech: Uncertainty and Economic Policy: Climate Change
Lars Hansen (University of Chicago) Presentation
14:30-15:00 Coffee break
SESSION IV: Subjective beliefs and the business cycle
Chair: Peter Van Els (DNB)
15:00-16:00 Survey data and subjective beliefs in business cycle models
by Anmol Bhandari (University of Minnesota), Jaroslav Borovicka (New York University) and Paul Ho (Richmond Fed) Paper Presentation
Discussant: Riccardo Masolo (Bank of England) Presentation
16.00-16.15 Coffee break
16:15-17:15 Fear of secular stagnation and the natural interest rate
by Paolo Bonomolo (DNB) and Valentina Gavazza (Stockholm University) Paper Presentation
Discussant: Oreste Tristani (European Central Bank) Presentation