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FRIDAY 16 SEPTEMBER
Helsinki (UTC +03:00)

9:15—10:45 Session: Monetary Policy, Labor, and Banks
Chair: Esa Jokivuolle (Bank of Finland)

“Monetary Policy in the Age of Universal Banking”
Andrew MacKinlay (Pamplin College of Business, Virginia Tech) joint with Michael Gelman and Itay Goldstein

“Monetary Policy under Labor Market Power”
Yannick Timmer (Federal Reserve Board) joint with Anke Weber, Anastasia Burya and Rui C. Mano

“Wages and Inflation”
Jane Ryngaert (University of Notre Dame) joint with Laura Pilossoph

10:45—11:00 Coffee Break

11:00—11:45 Invited speech: “Asset-Price Redistribution”
Benjamin Moll (London School of Economics and CEPR) joint with Andreas Fagereng, Matthieu Gomez, Émilien Gouin-Bonenfant, Martin Holm and Gisle Natvik

Chair: Juha Kilponen (Bank of Finland)

11:45—12:00 Break

12:00—12:30 Policy Keynote
Olli Rehn (Governor of the Bank of Finland)

Chair: Juha Kilponen (Bank of Finland)

12:30—13:30 Lunch

13:30—15:00 Session: Monetary Policy and Households
Chair: Adam Gulan (Bank of Finland)

“Cross Country Differences in Household Financial Decisions”
Louiza A. Bartzoka (Imperial College London) joint with Olga Goldfayn-Frank and Georgi Kocharkov

“How does Monetary Policy Affect Household Indebtedness”
Gisle J. Natvik (BI Norwegian Business School) joint with Andreas Fagereng, Magnus A. H. Gulbrandsen and Martin B. Holm

“Memory and Beliefs: Evidence from the Field”
Michael Weber (Booth School of Business, University of Chicago and CEPR) joint with Francesco D’Acunto

15:00—15:15 Break

15:15—16:00 Invited speech: “Monetary-Based Asset Pricing: A Mixed-Frequency Structural Approach” (virtual)
Sydney Ludvigson (New York University and CEPR) joint with Francesco Bianchi and Sai Ma

Chair: Antti Ripatti (University of Helsinki)

16:00—16:15 Coffee Break

16:15—17:45 Session: Monetary Policy in a Post-Pandemic World I
Chair: Antti Ripatti (University of Helsinki)

“Stagflation and Topsy Turvy Capital Flows”
Julien Bengui (Bank of Canada and CEPR) joint with Louphou Coulibaly

“Can monetary Policy Create Fiscal Capacity?”
Vadim Elenev (Johns Hopkins Carey Business School) joint with Tim Landvoigt, Patrick Shultz, and Stijn Van Nieuwerburgh

“The Inflationary Effects of Sectoral Reallocation”
Sebastian Graves (Federal Reserve Board) joint with Francesco Ferrante and Matteo Iacoviello

SATURDAY 17 SEPTEMBER
Helsinki (UTC +03:00)

8:30—9:15 Invited speech: “How unconventional is green monetary policy?” (virtual)
Martin Schneider (Stanford University and CEPR) joint with Melina Papoutsi and Monika Piazzesi

Chair: Michael Weber (University of Chicago)

9:15—10:45 Session: Monetary Policy in a Post-Pandemic World II
Chair: Michael Weber (University of Chicago)

“Asset Purchases and Inflation Default Risk in Noisy Financial Markets”
Gaetano Gaballo (HEC Paris and CEPR) joint with Carlo Galli

“Exit from extended monetary accommodation—principles and key issues”
Luis Brandao-Marques (IMF) joint with Jesper Lindé (IMF)

“Fear of Hiking? Monetary Policy and Sovereign Risk”
Leopold Zessner-Spitzenberg (Humboldt University of Berlin) joint with Martin Wolf

10:45—11:15 Coffee Break

11:15—12:45 Session: Macro Models For The Future
Chair: Francesco D’Acunto (Georgetown University)

“Coherence without Rationality at the Zero Lower Bound”
Nigel McClung (Bank of Finland) joint with Guido Ascari and Sophocles Mavroeidis

“A Behavioral Heterogeneous Agent NK Model”
Oliver Pfäuti (University of Mannheim) joint with Fabian Seyrich

“Optimal Monetary Policy with Heterogeneous Agents”
Andreas Schaab (Toulouse School of Economics) joint with Eduardo Dávila

12:45—13:45 Lunch


*Name of presenter in bold.

Organising Committee:

Francesco D’Acunto (Boston College)
Daniel Hoang (Karlsruhe Institute of Technology)
Seppo Honkapohja (Aalto University and CEPR)
Juha Kilponen (Bank of Finland)
Esa Jokivuolle (Bank of Finland)
Michael Weber (University of Chicago and CEPR)