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Dear colleagues,
We are pleased to announce that registration is now open for the forthcoming SUERF-ECB-Bank of Finland-Banca d’Italia workshop on “Macroeconomic
models for monetary policy: State of play and way forward”,
to be held virtually on Thursday, 3 February 2022, 13:30-17:00 CET.
Motivation
Economic models play a central role in modern central banks’ assessment of the state of the economy (nowcasting), the forecasting of macroeconomic developments and inflation over the relevant policy horizon (2-3 years), the calibration of the adequate monetary
policy stance and instruments, the appraisal of costs, benefits and risks of alternative policy routes (e.g. scenario analysis), as well as the identification of long-term secular economic trends.
This workshop offers an overview of central banks’ macroeconomic modelling toolbox in the context of central banks’ monetary policy strategy reviews and with a view to coping with the challenges from climate change, a falling r*, proximity to the effective
lower bound on interest rates, and the COVID crisis.
The workshop will translate the technical modelling work into a policy-oriented format accessible to economic policy makers, financial practitioners,
and economists active outside the narrow field of economic modelling and forecasting. The workshop brings together major global institutions active in the field. The aim is to provide orientation over the multitude of evolving workstreams and approaches, to
encourage benchmarking and cross-fertilization between institutions, to link interested researchers, and to open avenues for future cooperation.
Scientific coordination
Matthieu Darracq Paries, ECB;
Ernest Gnan, OeNB and SUERF; Juha Kilponen, Bank of Finland, and
Alessandro Notarpietro, Banca d’Italia.
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CET
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Thursday, 3 February 2022
• Online via Webex
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13:30
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Opening and welcome
Ernest Gnan, OeNB and SUERF
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13:35
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Session 1:
Evolving role of macroeconomic models in central banks’ monetary policies: key lessons from recent Strategy Reviews
Introduction and moderation:
Fiorella De Fiore, BIS
Alessandro Notarpietro, Banca d’Italia
Fabian Winkler, Federal Reserve Board
Ulf Söderström, Sveriges Riksbank
Marc-Andre Gosselin, Bank of Canada
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15:00
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Session 2:
Model development needs – themes and priorities
Moderation: Matthieu Darracq Paries, ECB
Juha Kilponen, Bank of Finland
Jesper Lindé, IMF
Yang Zhang, Bank of Canada
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16:00
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Session 3:
How to improve the use of models for monetary policy?
Moderation: Alessandro Notarpietro, Banca d’Italia
Matthieu Darracq Paries, ECB
Eleonora Granziera, Norges Bank
Francesca Monti, King’s College London
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17:00
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End
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To participate, please register by using the following
LINK.
Feel free to share this invitation with colleagues who might be interested to attend!
We look forward to your participation!
www.suerf.org/monpolmacromodelling
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