Inflation: Drivers and Dynamics Conference 2019
The Center for Inflation Research is a new initiative of the Federal Reserve Bank of Cleveland. We are very excited about this initiative and the contributions it will make across multiple audiences, and you can sign up here to receive updates as our efforts move forward.
Day One — Thursday, May 16, 2019 |
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| 8:00 – 8:30 am | Registration and Continental Breakfast |
| 8:30 – 8:45 am | Welcome and Opening Remarks Loretta J. Mester, President and Chief Executive Officer, Federal Reserve Bank of Cleveland |
Session IChair: Todd Clark, Federal Reserve Bank of Cleveland |
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| 8:45 – 9:45 am | Trade Exposure and the Evolution of Inflation Dynamics Simon Gilchrist, New York University, paper, presentation Egon Zakrajšek, Federal Reserve Board of Governors Discussant: Tony Zhang, Boston University, discussion |
| 9:45 – 10:45 am | Asymmetries and Non-Linearities in Exchange Rate Pass-Through Mina Kim, Bureau of Labor Statistics, paper, presentation Logan T. Lewis, Federal Reserve Board of Governors Robert J. Vigfusson, Federal Reserve Board of Governors Discussant: Andres Drenik, Columbia University, discussion |
| 10:45 – 11:00 am | Refreshment Break |
| 11:00 am – Noon | Price Trends Over the Product Life Cycle and the Optimal U.K. Inflation Target Klaus Adam, University of Oxford, Nuffield College & CEPR Henning Weber, Deutsche Bundesbank, paper, presentation Discussant: Alexander Wolman, Federal Reserve Bank of Richmond, discussion |
| Noon – 1:00 pm | Lunch |
Session IIChair: Robert Rich, Federal Reserve Bank of Cleveland |
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| 1:00 – 2:00 pm | Expectations Formation, Sticky Prices, and the ZLB Betsy Bersson, Federal Reserve Board of Governors Patrick Hürtgen, Deutsche Bundesbank Matthias Paustian, Federal Reserve Board of Governors, paper, presentation Discussant: Jeffrey Campbell, Federal Reserve Bank of Chicago |
| 2:00 – 3:00 pm | Empirical Properties of Inflation Expectations and the Zero Lower Bound Mirko Wiederholt, Sciences Po and CEPR, paper, presentation Discussant: Philippe Andrade, Federal Reserve Bank of Boston, discussion |
| 3:00 – 3:15 pm | Refreshment Break |
| 3:15 – 4:15 pm | Do You Know That I Know That You Know: Higher Order Expectations in Survey Data Olivier Coibion, University of Texas at Austin and NBER Yuriy Gorodnichenko, University of California, Berkeley and NBER Saten Kumar, Auckland University of Technology Jane Ryngaert, Wake Forest University, paper, presentation Discussant: Olivier Armantier, Federal Reserve Bank of New York, discussion |
| 4:15 – 5:15 pm | IQ, Expectations, and Choice Francesco D'Acunto, Boston College Daniel Hoang, Karlsruhe Institute of Technology Maritta Paloviita, Bank of Finland Michael Weber, University of Chicago Booth School of Business, paper, presentation Discussant: Eric Sims, University of Notre Dame, discussion |
| 5:30 - 6:30 pm | Reception and Poster Session Exchange Rates, Retailers, and Importing: Theory and Firm-Level Evidence Patrick Alexander, Bank of Canada, Alex Chernoff, Bank of Canada, paper What's Behind Firms' Inflation Forecasts? Cristina Conflitti, Banca d'Italia, paper Roberta Zizza, Banca d'Italia Micro-Macro Moments: Time- vs. State-Dependent Pricing? Gee Hee Hong, International Monetary Fund, paper Matthew Klepacz, College of William & Mary Ernesto Pastén, Central Bank of Chile and Toulouse School of Economics Raphael Schoenle, Federal Reserve Bank of Cleveland and Brandeis University Price Setting and Volatility: Evidence from Oil Price Volatility Shocks Matthew Klepacz, College of William & Mary, paper Perceptions and Expectations of Inflation by U.S. Households Sandor Axelrod, Federal Reserve Board of Governors David Lebow, Federal Reserve Board of Governors, paper Ekaterina Peneva, Federal Reserve Board of Governors Imperfect Information, Shock Heterogeneity and Inflation Dynamics Tatsushi Okuda, Bank of Japan paper Tomohiro Tsuruga, Bank of Japan Francesco Zanetti, University of Oxford |
| 6:45 pm | Dinner Introduction of Dinner Speaker Ellis Tallman, Executive Vice President and Director of Research Keynote dinner speaker: Philipp Hartmann, European Central Bank, paper, speech, speech slides |
Day Two — Friday, May 17, 2019 |
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| 8:15 – 8:45 am | Continental Breakfast |
Session IIIChair: Edward S. Knotek II, Federal Reserve Bank of Cleveland |
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| 8:45 – 9:45 am | Price Selection Carlos Carvalho, Central Bank of Brazil and Pontifical Catholic University of Rio de Janeiro, paper, presentation Oleksiy Kryvtsov, Bank of Canada Discussant: Peter Karadi, European Central Bank, discussion |
| 9:45 – 10:45 am | Pipeline Pressures and Sectoral Inflation Dynamics Frank Smets, European Central Bank, Ghent University, and CEPR Joris Tielens, National Bank of Belgium and Katholieke Universiteit Leuven, paper, presentation Jan Van Hove, Katholieke Universiteit Leuven and KBC Bank Discussant: Hafedh Bouakez, HEC-Montréal, discussion |
| 10:45 – 11:00 am | Refreshment Break |
| 11:00 – Noon | Heterogeneous Price Rigidities and Monetary Policy Christopher Clayton, Harvard University Xavier Jaravel, London School of Economics and Political Science Andreas Schaab, Harvard University, paper, presentation Discussant: Andres Blanco, University of Michigan, discussion |
| Noon – 1:00 pm | Lunch |
