ECB Forum on Central Banking

Opening reception and dinner

Opening remarks

Mario Draghi, President, European Central Bank

Dinner hosted by the Executive Board of the European Central Bank

Dinner speech Monetary policy in a low inflation, low interest rate world

Lawrence H. Summers
Professor and President Emeritus of Harvard University, former US Secretary of the Treasury

Introductory speech

Mario Draghi, President, European Central Bank

Session 1: Macroeconomics of price and wage-setting

Chair: Peter Praet, Member of the Executive Board, European Central Bank

Slack and cyclically sensitive inflation

James H. Stock, Professor, Harvard University
Presentation
(with Mark Watson, Professor, Princeton University)

Discussant:
Lucrezia Reichlin, Professor, London Business School

Inflation expectations – a policy tool?

Yuriy Gorodnichenko, Professor, University of California, Berkeley
Presentation
(with Olivier Coibion, Associate Professor, University of Texas at Austin; Saten Kumar, Associate Professor, Auckland University of Technology; and Mathieu Pedemonte, Graduate Student, University of California, Berkeley)

Discussant:
Ricardo Reis, Professor, London School of Economics

Panel: Macroeconomics of price and wage-setting

Chair: Peter Praet, Member of the Executive Board, European Central Bank

• Jim Bullard, President, Federal Reserve Bank of St. Louis
• Kristin J. Forbes, Professor, Massachusetts Institute of Technology
• Philip R. Lane, Governor, Central Bank of Ireland
• Charles Wyplosz, Professor, Graduate Institute of International and Development Studies, Geneva

Session 2: Microeconomics of price and wage-setting

Chair: Sabine Lautenschläger, Member of the Executive Board and Vice-Chair of the Supervisory Board, European Central Bank

Measuring inflation in the modern economy – a micro price-setting view

Aviv Nevo, Professor, University of Pennsylvania
Presentation
(with Arlene Wong, Assistant Professor, Princeton University)

Discussant:
Michael Weber, Assistant Professor, University of Chicago

Productivity growth, wage growth and unions

Uta Schönberg, Professor, University College London (UCL)
Presentation
(with Alice Kügler and Ragnhild Schreiner, both Postdoctoral Research Fellows, CReAM/UCL)

Discussant:
Michael C. Burda, Professor, Humboldt University Berlin

Panel: Microeconomics of price and wage-setting

Chair: Benoît Cœuré, Member of the Executive Board, European Central Bank

• Erica L. Groshen, Visiting Professor, Cornell University
• Philippe Marcadent, Chief of the Inclusive Labour Markets, Labour Relations and Working Conditions Branch, ILO
• Tommaso Valletti, Chief Competition Economist, European Commission
• Klaus F. Zimmermann, President, Global Labor Organization, and Maastricht University

Policy panel

• Mario Draghi, President, European Central Bank
• Haruhiko Kuroda, Governor, Bank of Japan
• Philip Lowe, Governor, Reserve Bank of Australia
• Jerome H. Powell, Chairman, Board of Governors of the Federal Reserve System

Moderator: Stephanie Flanders, Bloomberg Economics

Award ceremony – Young economists’ posters

Closing remarks

Group photo