Thursday, May 19

9:50 am

Welcome remarks

9:59 am

Session 1: Policy with Subjective Expectations

10:00 am

Monetary Policy & Anchored Expectations - An Endogenous Gain Learning Model

Laura V. Gati, European Central Bank

Discussant:
Karthik Sastry, Princeton University and NBER

10:40 am

Anchoring Long-run Inflation Expectations in a Panel of Professional Forecasters

Jonas Fisher, Federal Reserve Bank of Chicago
Leonardo Melosi, University of Warwick
Sebastian Rast, De Nederlandsche Bank

Discussant:
Arunima Sinha, Morgan Stanley

11:20 am

Business Cycles when Consumers Learn by Shopping

Angelo Gutierrez-Daza, Banco de Mexico

Discussant:
Luigi Paciello, Einaudi Institute for Economics and Finance

12:00 pm

Break

12:15 pm

Keynote Speech: Ben Bernanke

1:00 pm

Break

1:14 pm

Session 2: Households' Expectations

1:15 pm

Why Do We Think That Inflation Expectations Matter for Inflation? (And Should We?)

Jeremy Rudd, Federal Reserve Board of Governors

Discussant:
Yuriy Gorodnichenko, University of California, Berkeley and NBER

1:55 pm

Narratives about the Macroeconomy

Peter Andre, Goethe University Frankfurt
Ingar K. Haaland, Norwegian School of Economics
Christopher Roth, University of Cologne
Johannes Wohlfart, University of Cologne

Discussant:
Rupal Kamdar, Indiana University

2:35 pm

Break

2:49 pm

Session 3: Firms' Expectations

2:50 pm

Inflation Expectations and the Supply Chain (slides)

Elias Albagli, Central Bank of Chile
Francesco Grigoli, International Monetary Fund
Emiliano E. Luttini, The World Bank

Discussant:
Carolin Pflueger, University of Chicago and NBER

3:30 pm

Firms' Inflation Expectations: New Evidence from France

Frédérique Savignac, Banque de France
Erwan Gautier, Banque de France
Yuriy Gorodnichenko, University of California, Berkeley and NBER
Olivier Coibion, University of Texas at Austin and NBER

Discussant:
Luba Petersen, Simon Fraser University and NBER

4:10 pm

Adjourn