Advances in Monetary Economics Conference
The IMF’s Advances in Monetary Economics (AME) Conference takes place annually in conjunction with the Camdessus Central Banking Lecture. It brings together economists from the academic and policy spheres to present and discuss cutting-edge work on topics relevant for the conduct of monetary policy. You can find the programs and papers from previous AME conferences on this page.2023
| Agenda | |
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Papers and Presentations |
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| Beyond Volcker: Developing Country Disinflations and the Fed’s Two-Percent Inflation Target | |
| Anusha Chari (University of North Carolina at Chapel Hill and NBER) and Peter Blair Henry (Hoover Institution and Freeman Spogli Institute, Stanford University) | |
| Presentation by Anusha Chari and Peter Blair Henry | |
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Discussed by Laurence Ball (Johns Hopkins University) |
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| The International Spillovers of Synchronous Monetary Tightening | |
| Dario Caldara (Federal Reserve Board), Francesco Ferrante (Federal Reserve Board), Matteo Iacoviello (Federal Reserve Board), Andrea Prestipino (Federal Reserve Board), and Albert Queralto (Federal Reserve Board) | |
| Presentation by Matteo Iacoviello | |
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Discussed by Marco del Negro (Federal Reserve Bank of New York) |
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| Stabilization vs. Redistribution: the Optimal Monetary-Fiscal Mix | |
| Florin O. Bilbiie (University of Lausanne and CEPR), Tommaso Monacelli (Bocconi University, IGIER and CEPR), and Roberto Perotti (Bocconi University, IGIER, NBER and CEPR) | |
| Presentation by Tommaso Monacelli | |
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Discussion by Sebastian Schmidt (European Central Bank) |
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| Who is Afraid of Eurobonds? | |
| Francesco Bianchi (Johns Hopkins University, CEPR, and NBER), Leonardo Melosi (Federal Reserve Bank of Chicago and CEPR), and Anna Rogantini Picco (Sveriges Riksbank, Research Division) | |
| Presentation by Francesco Bianchi | |
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Discussed by Era Dabla-Norris (IMF) |
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| Wage-Price Spirals: What is the Historical Evidence? | |
| Jorge Alvarez, John Bluedorn, Niels-Jakob Hansen, Youyou Huang, Evgenia Pugacheva, and Alexandre Sollaci | |
| Presentation by Niels-Jakob Hansen (Soon) | |
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Discussed by Andrew Levin (Dartmouth College) |
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| Inflation is Conflict | |
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Guido Lorenzoni (Northwestern University) and Iván Werning (Massachusetts Institute of Technology) |
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| Wage price Spirals | |
| Guido Lorenzoni (Northwestern University) and Iván Werning (Massachusetts Institute of Technology) | |
| Presentation by Iván Werning | |
| Discussed by Narayana Kocherlakota (University of Rochester) |
2022
| Agenda | |
| Opening Remarks | |
| Opening Remarks at Advances in Monetary Economics Conference | |
| Tobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department | |
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Papers |
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Inflation Strikes Back: The Return of Wage to Price Pass-Through |
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| Mary Amiti (FFRB NY), Sebastian Heise (FRB NY), Fatih Karahan (Amazon), and Ayşegül Şahin (UT Austin, NBER) | |
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Inflation Expectactions and the Supply Chain |
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| Elías Albagli (Central Bank of Chile), Francesco Grigoli (IMF), and Emiliano Luttini (Central Bank of Chile) | |
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Understanding Post-Covid Inflation Dynamics |
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| Martín Harding (Bank of Canada), Jesper Lindé (IMF), and Mathias Trabandt (Goethe University Frankfurt) | |
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A Plucking Model of Business Cycles |
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| Stéphane Dupraz (Banque de France), Emi Nakamura (UC Berkeley), and Jón Steinsson (UC Berkeley) | |
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U.S. Monetary Policy Spillovers to Emerging Markets: Both Shocks and Vulnerabilities Matter |
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| Shaghil Ahmed (Federal Reserve Board), Ozge Akinci (Federal Reserve Bank of New York), and Albert Queralto (Federal Reserve Board) | |
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A Preferred-Habitat Model of Term Premia, Exchange Rates, and Monetary Policy Spillovers |
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| Pierre-Olivier Gourinchas (IMF and UC Berkeley, NBER and CEPR) and Walker Ray (London School of Economics) | |
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Discussions |
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| Inflation Expectations and the Supply Chain by Elias Albagli, Francesco Grigoli, and Emiliano Luttini | |
| Discussed by Michael Weber | |
| A Plucking Model of Business Cycles by Stéphane Dupraz, Emi Nakamura, and Jón Steinsson | |
| Discussed by Carolin Pflueger (University of Chicago, Harris) | |
| A Preferred-Habitat Model of the Term Premia, Exchange Rates and Monetary Policies by Pierre-Olivier Gourinchas, W.Ray, and D.Vayanos | |
| Discussed by Eva Ortega (Bank of Spain) | |
| U.S. Monetary Policy Spillovers to Emerging Markets: Both Shocks and Vulnerabilities Matter by Shaghil Ahmed, Ozge Akinci, and Albert Queralto | |
| Discussed by Paolo Cavallino (BIS) |
2021
| Agenda | |
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Papers |
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Debt, Deficits, and Inflation in a Low Interest Rate Environment |
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| Christopher A. Sims | |
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Fiscal and Monetary Policy interactions in a Low Interest Rate World |
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| Boris Hofmann (BIS), Marco Lombardi (BIS), Benoît Mojon (BIS) and Athanasios Orphanides (MIT) | |
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Discussions |
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Discussion of Fiscal and Monetary Policy Interactions in a Low Interest Rate World |
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| Boris Hofmann (BIS), Marco Lombardi (BIS), Benoît Mojon (BIS) and Athanasios Orphanides (MIT) | |
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Discussion of Optimal Fiscal and Monetary Policy with Distorting Taxes |
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| Stephanie Schmitt-Grohé (Columbia University) | |
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Discussion of 'Is There a Zero Lower Bound? The Effects of Negative Policy Rates on Banks And Firms |
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| Eric T. Swanson (University of California, Irvine) | |
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Discussion of How Unconventional is Green Monetary Policy? |
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| Luis Brandao-Marques | |
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Discussion of "Fiscal and Monetary Policy Interactions in a Low Interest Rate World" |
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| Damiano Sandri | |
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Discussion of “Monetary Policy and Inequality" |
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| Adrien Auclert |