Inflation in the COVID Era and Beyond
Organized by Laurence M. Ball and Yuriy Gorodnichenko
Supported by the Smith Richardson Foundation
May 16-17, 2024
Royal Sonesta Hotel, 40 Edwin H. Land Blvd., Cambridge, MA 02142
Thursday, May 16
12:00 pm
Lunch, University BC Room
Meeting in Longfellow Room
1:00 pm
Welcome
1:15 pm

People's Understanding of Inflation (slides)

Alberto Binetti, Princeton University
Francesco Nuzzi, Harvard University
Stefanie Stantcheva, Harvard University and NBER

Discussant:
Robert J. Shiller, Yale University and NBER
2:15 pm

Who Bears the Costs of Inflation? Euro Area Households and the 2021–22 Shock

Giovanni L. Violante, Princeton University and NBER
Oreste Tristani, European Central Bank
Jiri Slacalek, European Central Bank
Gonzalo Paz Pardo, European Central Bank
Filippo Pallotti, University College London

Discussant:
Klaus Adam, University of Mannheim
3:15 pm
Break
3:45 pm

Relative-Price Changes as Aggregate Supply Shocks Revisited: Theory and Evidence

Hassan Afrouzi, Columbia University and NBER
Saroj Bhattarai, University of Texas at Austin
Edson Wu, University of Texas at Austin

Discussant:
Raphael Schoenle, Brandeis University
4:45 pm

Phillips meets Beveridge (slides)

Regis Barnichon, Federal Reserve Bank of San Francisco
Adam Shapiro, Federal Reserve Bank of San Francisco

Discussant:
Katharine G. Abraham, University of Maryland, College Park and NBER
5:45 pm
Adjourn
6:30 pm
Dinner, Bambara Restaurant, Hotel Marlowe, 25 Edwin H. Land Blvd, Cambridge
Friday, May 17
Meeting in Parkview Room
8:00 am
Breakfast
8:30 am

Price Discounts and Cheapflation During the Post-Pandemic Inflation Surge (slides)

Alberto Cavallo, Harvard University and NBER
Oleksiy Kryvtsov, Bank of Canada

Discussant:
Joseph S. Vavra, University of Chicago and NBER
9:30 am

The Long and Variable Lags of Monetary Policy: Evidence from Disaggregated Price Indices (slides)

S. Borağan Aruoba, University of Maryland, College Park and NBER
Thomas Drechsel, University of Maryland, College Park and NBER

Discussant:
Jonathan H. Wright, Johns Hopkins University and NBER
10:30 am
Break
11:00 am

Understanding the International Rise and Fall of Inflation Since 2020

Mai Chi Dao, International Monetary Fund
Pierre-Olivier Gourinchas, International Monetary Fund and NBER
Daniel Leigh, International Monetary Fund
Prachi Mishra, Ashoka University

Discussant:
Susanto Basu, Boston College and NBER
12:00 pm
Lunch, Charles Room A
12:45 pm

Partisan Expectations and COVID-Era Inflation

Carola Binder, University of Texas at Austin and NBER
Rupal Kamdar, Indiana University
Jane M. Ryngaert, University of Notre Dame

Discussant:
Giorgio Topa, Federal Reserve Bank of New York
1:45 pm

Lessons from History for Successful Disinflation

Christina D. Romer, University of California, Berkeley and NBER
David H. Romer, University of California, Berkeley and NBER

Discussant:
Donald Kohn, The Brookings Institution
2:45 pm
Break
3:15 pm
Panel Discussion
Inflation: What We Have Learned, and What We Need to Know
Richard H. Clarida, Columbia University and NBER (Remarks)
N. Gregory Mankiw, Harvard University and NBER (Remarks)
Jan Hatzius, Goldman Sachs
4:30 pm
Closing Remarks & Adjourn