Global Research Forum on International Macroeconomics and Finance 2024
Sponsored by the European Central Bank, the Federal Reserve Board and the Federal Reserve Bank of New York
Tuesday, 12 and Wednesday, 13 November 2024
European Central Bank
The purpose of the Forum is to promote the discussion of frontier research on empirical and theoretical issues in international finance, global banking and open economy macroeconomics, with a focus on issues relevant to monetary policy and financial stability.
This year’s Forum will focus on the central bank challenges implied by rising geoeconomic fragmentation risk and its consequences for global financial markets and institutions.
Programme
* indicates the presenter
- 9:30
-
Registration and coffee
- 10:00
-
Welcome address
Isabel Vansteenkiste, European Central Bank
- 10:10
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Session 1
Financial globalisation and interconnectednessSession chair: Ricardo Correa, Federal Reserve Board
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Global Financial Chains
- Raoul Minetti, Michigan State University
- Giacomo Romanini*, Bank of Italy
- Oren Ziv, Michigan State University
Discussant: Saleem Bahaj, University College London and CEPR
-
Elephants in Equity and Currency Markets
- Hélène Rey, London Business School
- Adrien Rousset Planat, London Business School
- Vania Stavrakeva*, London Business School
- Jenny Tang, Federal Reserve Bank of Boston
Discussant: Livia Chiţu, European Central Bank
- 12:10
-
Coffee break
- 12:30
-
Session 2 – Part 1
The effects of sanctions on tradeSession chair: Arnaud Mehl, European Central Bank and CEPR
-
International Trade and Macroeconomic Dynamics with Sanctions
- Galip Kemal Ozhan*, International Monetary Fund
- Fabio Ghironi, University of Washington
- Daisoon Kim, North Carolina State University
Discussant: Dmitry Mukhin, London School of Economics and CEPR
- 13:30
-
Buffet lunch
- 15:00
-
High-level policy panel
Financial sanctions and their implications for the international monetary systemChair: Piero Cipollone, ECB Executive Board
Panellists:
- Laura Alfaro, Harvard Business School, NBER and CEPR
- Linda Goldberg, Federal Reserve Bank of New York, NBER and CEPR
- 16:00
-
Coffee break
- 16:20
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Session 2 – Part 2
The effects of sanctions on tradeSession chair: Arnaud Mehl, European Central Bank and CEPR
-
Difference-in-Differences Gravity Estimations of Treatments with Exit: The Case of Sanctions
- Ohyun Kwon, Drexel University
- Arne J. Nagengast*, Deutsche Bundesbank
- Jangsu Yoon, University of Wisconsin-Milwaukee
- Yoto V. Yotov, Drexel University
Discussant: Julian Hinz, University of Bielefeld
- 17:20
-
End of day 1
- 19:00
-
Dinner, by invitation
Dinner speech
Trade and peaceMoritz Schularick, Kiel Institute for the World Economy, Sciences Po and CEPR
- 9:00
-
Registration and coffee
- 9:30
-
Keynote speech
Hélène Rey, London Business School, NBER and CEPR
Chair: Isabel Vansteenkiste, European Central Bank
- 10:30
-
Coffee break
- 11:00
-
Session 4
Global supply chainsSession chair: Ozge Akinci, Federal Reserve Bank of New York and CEPR
-
Bank Financing of Global Supply Chains
- Laura Alfaro, Harvard Business School
- Mariya Brussevich, International Monetary Fund
- Camelia Minoiu*, Federal Reserve Bank of Atlanta
- Andrea Presbitero, International Monetary Fund
Discussant: Tomasz K. Michalski, HEC Paris
-
Supply Chain Shortages, Large Firms’ Market Power, and Inflation
- Francesco Franzoni, USI Lugano
- Mariassunta Giannetti*, Stockholm School of Economics and CEPR
- Roberto Tubaldi, BI Norwegian Business School
Discussant: Matteo Crosignani, Federal Reserve Bank of New York and CEPR
- 13:00
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Buffet lunch
- 14:00
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Session 4
Macroeconomic and financial implications of geopoliticsSession chair: Juan M. Londono, Federal Reserve Board
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Do Geopolitical Risks Raise or Lower Inflation?
- Dario Caldara, Board of Governors of the Federal Reserve System
- Sarah Conlisk, Board of Governors of the Federal Reserve System, Harvard University
- Matteo Iacoviello*, Board of Governors of the Federal Reserve System
- Maddie Penn, Board of Governors of the Federal Reserve System, Yale University
Discussant: Silvia Miranda-Agrippino, Federal Reserve Bank of New York and CEPR
-
The Geoeconomics of International Political Relations and Sovereign Defaults
- Consuelo Silva-Buston, Pontificia Universidad Católica de Chile
- Marcela Valenzuela, Pontificia Universidad Católica de Chile
- Ilknur Zer*, Board of Governors of the Federal Reserve System
Discussant: Ugo Panizza, Geneva Graduate Institute and CEPR
- 16:00
-
End of conference
This programme may be subject to change without notice.
Audiovisual notice: A photographer will be present at the event taking photographs for our internet / intranet webpage. If you prefer not to have your photograph taken, please approach the photographer directly. The event may be filmed and the video recording, or parts of it, may be published on the internet / intranet.
General information
European Central Bank
Sonnemannstrasse 20
60314 Frankfurt am Main
English
Participants are requested to arrange their own transfers, unless indicated otherwise.
- Ozge Akinci, Federal Reserve Bank of New York
- Ricardo Correa, Federal Reserve Board
- Linda Goldberg, Federal Reserve Bank of New York
- Georgios Georgiadis, European Central Bank
- Juan M. Londono, Federal Reserve Board
- Arnaud Mehl, European Central Bank
- Isabel Vansteenkiste, European Central Bank
Georgios Georgiadis, European Central Bank
+49 69 1344 58 51
Arnaud Mehl, European Central Bank
+49 69 1344 86 83