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Inflation: Drivers and Dynamics Conference 2020

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.

The Inflation: Drivers and Dynamics 2020 conference, co-sponsored by the Center for Inflation Research and the European Central Bank, took place on May 21–22, 2020. The conference was held virtually.

Scientific Committee:

The session videos, presentations and papers are available in the conference program below.


Opening Remarks | video

Loretta J. Mester, President and Chief Executive Officer, Federal Reserve Bank of Cleveland

Empirical Phillips Curves | video

Moderator: Chiara Osbat, European Central Bank

What’s Up With the Phillips Curve?
Marco Del Negro, Federal Reserve Bank of New York | paper | presentation
Michele Lenza, European Central Bank
Giorgio E. Primiceri, Northwestern University
Andrea Tambalotti, Federal Reserve Bank of New York

A Model of the Fed’s View on Inflation
Giovanni Ricco, University of Warwick | paper | presentation
Thomas Hasenzagl, University of Minnesota
Filippo Pellegrino, London School of Economics, and Now-Casting Economics
Lucrezia Reichlin, London Business School, Now-Casting Economics, and CEPR

Networks and Phillips Curves | video

Moderator: Raphael Schoenle, Federal Reserve Bank of Cleveland

Networks, Phillips Curves and Monetary Policy
Elisa Rubbo, Harvard University | paper | presentation

Production Networks and the Flattening of the Phillips Curve
Christian Höynck, Universitat Pompeu Fabra | paper | presentation

Plenary | video

Moderator: Edward S. Knotek II, Federal Reserve Bank of Cleveland

Quantum Prices
Roberto Rigobon, Massachusetts Institute of Technology | paper | presentation
Diego Aparicio, IESE Business School-University of Navarra


Expectations | video

Moderator: Robert Rich, Federal Reserve Bank of Cleveland

What Matters in Households’ Inflations Expectations?
Philippe Andrade, Federal Reserve Bank of Boston | paper | presentation
Erwan Gautier, Banque de France
Eric Mengus, HEC Paris, and CEPR

Forward Guidance and Household Expectations
Olivier Coibion, University of Texas-Austin, and NBER | paper | presentation
Dimitris Georgarakos, European Central Bank
Yuriy Gorodnichenko, University of California-Berkley, and NBER
Michael Weber, University of Chicago, and NBER

Managing Households’ Expectations with Unexpected Policies
Michael Weber, University of Chicago | paper | presentation
Francesco D’Acunto, Boston College
Daniel Hoang, Karlsruhe Institute of Technology

Remarks | video

Moderator: Christiane Nickel, European Central Bank

Philip R. Lane, Member of the Executive Board, European Central Bank | presentation

Micro Prices | video

Moderator: Peter Karadi, European Central Bank

Variety Growth and Measurement Biases in Inflation, Output, and Productivity
Colin Hottman, Federal Reserve Board of Governors | presentation
Etienne Gagnon, Federal Reserve Board of Governors
Joseph W. Gruber, Federal Reserve Board of Governors
Timothy Park, Economic Research Service, U.S. Department of Agriculture
Robert J. Vigfusson, Federal Reserve Board of Governors

Monetary Policy, Markup Dispersion, and Aggregate TFP
Matthias Meier, Universität Mannheim | paper | presentation
Timo Reinelt, Universität Mannheim

The Price Adjustment Hazard Function: Evidence from High Inflation Periods
Daniel Villar, Federal Reserve Board of Governors | paper | presentation
Shaowen Luo, Virginia Polytechnic Institute and State University