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ESCB Challenges for Monetary Policy Transmission in a Changing World (ChAMP) Research Network

1st Workshop of Workstream 2: Transmission through the real economy

Nationale Bank van België/Banque Nationale de Belgique
Brussels, 25 October 2023

The Nationale Bank van België/Banque Nationale de Belgique is hosting the first Workshop of the ChaMP ESCB research network, focusing on the topics covered by the 2nd workstream of that network on 25 October 2023. This will give us the opportunity to meet for the first time and to discuss some ongoing projects. A session will also be dedicated to a broader discussion on the potential cross-country collaborations that could be put in place in the context of this research network.

Programme

* indicates the presenter

8:15

Registration

8:45

Welcome

Philipp Hartmann, Chair, ECB
Emmanuel Dhyne, WS2 coordinator, Nationale Bank van België/Banque Nationale de Belgique

 

Session 1 

Chair: Emmanuel Dhyne, Nationale Bank van België/Banque Nationale de Belgique

9:00

Energy Terms of Trade Shocks in an Open-Economy HANK with Non-Homothetic Preferences 

Alina Bobasu*, ECB

9:45

Price Updating in Production Networks 

Glenn Magerman*, Université libre de Bruxelles (ULB)

10:30

Coffee break

 

Session 2 

Chair: Maria Valderrama, Oesterreichische Nationalbank

11:00

Anatomy of the Phillips Curve: Micro Evidence and Macro Implications 

Joris Tielens*, Nationale Bank van België/Banque Nationale de Belgique

11:45

Firm Heterogeneity, Capital Misallocation and Optimal Monetary Policy 

Dominik Thaler*, ECB

12:30

Lunch

  

Session 3 

Chair: Philipp Hartmann, ECB

14:00

Propagation of Minimum Wage Shocks through Production Networks 

Javier Quintana*, Banco de España

14:30

Monetary Policy, Growth, and Sectoral Reallocation 

Michaela Elfsbacka-Schmöller*, Suomen Pankki – Finlands Bank

15:00

Nets on Nets 

Matias Covarrubias*, Banco de España

15:30

Coffee break

16:00

General discussion – Way forward

17:15

Closing remarks