Monetary Economics Program Meeting
Organized by S. Borağan Aruoba and Daniel Greenwald
March 6, 2026
Federal Reserve Bank of New York, Benjamin Strong Room/10th Floor, 33 Liberty Street, New York, NY
The format will be 20 minutes for the author, 20 minutes for the discussant, and 20 minutes for general discussion.

Friday, March 6

8:30 am

Continental Breakfast

9:00 am

Fiscal Inaction as Monetary Support

George-Marios Angeletos, Northwestern University and NBER
Chen Lian, University of California, Berkeley and NBER
Christian K. Wolf, Massachusetts Institute of Technology and NBER

Discussant:
Marco Bassetto, Federal Reserve Bank of Minneapolis

10:00 am

Break

10:15 am

Rationing under Sticky Prices

Tom D. Holden, Deutsche Bundesbank

Discussant:
Oleksiy Kryvtsov, Bank of Canada

11:15 am

Break

11:30 am

The Interest Rate Elasticity of Investment: Micro Evidence and Macro Implications

Caleb K. Wroblewski, Congressional Budget Office

Discussant:
Thomas Drechsel, University of Maryland, College Park and NBER

12:30 pm

Lunch - Liberty Dining Room/1st Floor

1:30 pm

A New Reason to Hate Grocery Inflation: Measuring and Interpreting Inflation Heterogeneity (slides)

Kelsey O'Flaherty, Federal Reserve Board of Governors

Discussant:
Munseob Lee, University of California, San Diego

2:30 pm

Break

2:45 pm

Estimating the Missing Intercept

Christian Matthes, University of Notre Dame
Naoya Nagasaka, Indiana University
Felipe Schwartzman, Federal Reserve Bank of Richmond

Discussant:
Geert Mesters, Federal Reserve Bank of New York

3:45 pm

Break

4:00 pm

How Firms Form Beliefs and the Implications for Inflation

Robert Minton, Federal Reserve Board of Governors
Hugo Monnery, Harvard University

Discussant:
Hassan Afrouzi, Columbia University and NBER

5:00 pm

Adjourn