Conference on Price setting and inflation

Banque de France is organizing an international conference entitled Price setting and inflation to be held in the conference hall of Banque de France in Paris December 17-18, 2015.

The goal of the conference is to gather researchers working on price dynamics from a theoretical and empirical point of view, in particular based on micro data. Leading researchers on the topic will present papers investigating price setting, rigidity, and dispersion, and effects on inflation and monetary policy.

The keynote speakers

Fernando Alvarez (Université de Chicago)

Frank Schorfheide (University of Pennsylvania)

Jordi Galí (CREI, Université Pompeu Fabra)

The organizing committee

Nicoletta Berardi

Banque de France (nicoletta.berardi@banque-france.fr )

Erwan Gautier, Université de Nantes (erwan.gautier@univ-nantes.fr )

Hervé Le Bihan, Banque de France (herve.lebihan@banque-france.fr)

Si vous souhaitez vous inscrire à cette conférence, le nombre de places étant limité, veuillez contacter par mail : parisworkshop@banque-france.fr

Keynote lecture: price setting mechanism: long run identification of the impact of monetary shocks

Fernando ALVAREZ (University of Chicago)

Session1: Price setting & dispersion

Alberto CAVALLO (MIT): “Scraped data and sticky prices” 
Discussant: Fabio RUMLER (Oesterreichische Nationalbank) 

Nicoletta BERARDI (BdF): “Size is not all that matters: The many dimensions of heterogeneity in consumer price dispersion and dynamics” 
Discussant: Etienne GAGNON (Federal Reserve Board)

Nicholas TRACHTER (Fed. Reserve Bank of Richmond): “Relative price dispersion: Evidence and theory”Discussant: Gaetano GABALLO (BdF) 

Session2: Frictions & inflation dynamics

Mikael CARLSSON (Uppsala Univ. & Sveriges Riksbank): “Selection effects in producer-price setting” 
Discussant: Sarah LEIN (University of Basel)

Ernesto PASTEN (Centr. Bank of Chile & TSE): “Pricing rigidity in a productive network” 
Discussant: James COSTAIN (Banco de España) 

Philippe ANDRADE (BdF & CREM): “Fundamental disagreement” 
Discussant: Giuseppe FERRERO (Banca d’Italia)

Panel discussion on low inflation: Recent evidence and policy issues

Introduction : Hervé LE BIHAN (BdF),
Matteo CICCARELLI (European Central Bank), Michael KILEY (Federal Reserve Board) and Kozo UEDA (Waseda University)

Friday, 18th December

Keynote lecture: inflation during and after the zero lower bound

Frank SCHORFHEIDE (University of Pennsylvania) 

Session3: Price setting and demand shocks

Fernando BORRAZ (Cen. Bank of Uruguay): “Prices and competition: Evidence from a social program” 
Discussant: Patrick SEVESTRE (Université Aix-Marseille)

Joseph VAVRA (University of Chicago):“House prices, local demand, and retail prices” 
Discussant: Erwan GAUTIER (Université Nantes, BdF) 

Etienne GAGNON (Federal Reserve Board): “Small price responses to large demand shocks” 
Discussant: Raphael SCHOENLE (Brandeis University)

Session4: Sales & monetary implications

Nicolas VINCENT (HEC Montreal): “On the importance of sales for aggregate price flexibility” 
Discussant: Huw DIXON (Cardiff Business School)

Francesco LIPPI (Inst. Einaudi & Univ. di Sassari): “Price plans and the real effects of monetary policy”
Discussant: Oleksiy KRYVTSOV (Bank of Canada)

Keynote lecture: Hysteresis & the european unemployment problem revisited

Jordi GALÍ (CREI, Universitat Pompeu Fabra)