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Monetary Policy Challenges

The Banque de France and the Deutsche Bundesbank have organize a conference on monetary policy challenges for the euro after teenage, in Paris, on June 21-22, 2018.
Program committee: Emmanuel Farhi (Harvard), Emanuel Moench (Bundesbank) & Benoit Mojon (Banque de France)

Thursday, June 21

8:45

Registration and coffee

9:00- 9:30

Opening addressFrançois Villeroy de Galhau (Governor, Banque de France)

Session Ia:

Mark up, labor share and macroeconomic adjustments

Chair: Gilbert Cette (Banque de France)  Slide

9:30-10:30

David Dorn (U. Zurich, with David Autor, Lawrence Katz, Christina Patterson, and John van Reenen):

The Fall of the Labor Share and the Rise of Superstar Firms

Discussant: Matthias Kehrig (Duke U.) Slide

10:30-11:30

David Baqaee (LSE, with Emmanuel Farhi):

Productivity and Misallocation in General Equilibrium

Discussant: Franck Portier (UCL) Slide

11:30-12:00

Coffee Break

12:00-12:30

Keynote by Jens Weidmann (President, Deutsche Bundesbank)

12:30-13:45

Lunch

Session Ib:

Mark up, labor share and macroeconomic adjustments

Chair: Emanuel Moench (Deutsche Bundesbank)

13:45-14:45

Thomas Philippon (NYU, with German Gutierrez):

Investment-less Growth paper

Discussant: Simcha Barkai (LBS)

14:45-15:45

Jan Eeckhout (U. Pompei Fabra, with Jan de Loecker):

The Rise of Market Power and the Macroeconomic Implications Paper

Discussant: Susanto Basu (Boston College)

 

Coffee Break

Session IIa:

The international role of the Euro

Chair: Olivier Garnier (Banque de France)

16:15-17:15

Barry Eichengreen (Berkeley, with Arnaud Mehl and Livia Chitu):

How Global Currencies Work: Past, Present, and Future

 

17:15-18:30

Policy Panel on the Future of the Euro Zone

Chair: Emmanuel Farhi (Harvard)

Claudia Buch (Deutsche Bundesbank)

Barry Eichengreen (Berkeley)

Sylvie Goulard (Banque de France)

Philippe Martin (CAE and Sciences Po)

Friday, June 22

Session IIb:

The international role of the Euro

Chair: Bruno Cabrillac (Banque de France)

8:45-9:45

Gita Gopinath (Harvard, with Jeremy Stein):

Banking, Trade, and the Making of a Dominant Currency Paper Slide

Discussant: Stéphane Guibaud (Sciences-Po)

9:45-10:45

Ricardo Reis (LSE, with Saleem Bahaj):

Central Bank Swap Lines Paper Slide

Discussant: Charles Wyplosz (GI Geneva)

 

Coffee and Poster Session

11:30-12:30

Jesse Schreger (Columbia BS, with Matteo Maggiori and Brent Neiman):

International Currencies and Capital Allocation Paper Slide

Discussant: Isabelle Méjean (École polytechnique)

12:30-14:00

Lunch and Poster Session

Session III:

Monetary policy new normal

Chair: Benoit Mojon (Banque de France)

14:00-14:50

Klaus Adam (U. Mannheim, with Henning Weber):

Optimal Trend Inflation Paper Slide

Discussant: Vincent Sterk (University College London) Slide

14:50-15:40

Jordi Galí (Pompeu Fabra, with Philippe Andrade, Hervé Le Bihan and Julien Matheron):

Optimal inflation and the Natural Rate of Interest Paper

Discussant: Isabel Correia (Banco do Portugal)  Slide

Updated on: 07/11/2018 17:46