Workshop
"Expectations, Shocks
and MACROECONOMIC Fluctuations"
March 9, 2024
The workshop will explore the role of uncertainty and beliefs in explaining business cycle fluctuations, and their implications for the design of macroeconomic policy.
There will be 8 presentations followed by a drinks reception.
ORGANIZING COMMITTEE:
Frédérique Bec (CY Cergy Paris Université)
Guillaume Chevillon (ESSEC Business School)
Sophocles Mavroeidis (University of Oxford)
LOCATION
PLACE: ESSEC Business School Campus of La Defense
CNIT – 2 Pl. de la Défense, 92800 Puteaux
Deadline for registration : Wednesday, March 6th, 12:00 (Paris time).
SPEAKERS
Paolo Bonomolo (The Nederlansche Bank)
Ryan Chahrour (Cornell University)
Ippei Fujiwara (Keio University)
Gaetano Gaballo (HEC Paris)
Valentina Gavazza (Stockholm University)
Francesca Monti (Université Catholique de Louvain)
Franck Portier (University College of London)
Stephanie Schmitt-Grohe (Columbia University)
Yeji Sung (Federal Reserve Bank of San Francisco)
PROGRAM
09:00 - 09:30 Welcome & light breakfast
09:30 - 11:00 SESSION
Gaetano Gaballo (HEC Paris)
The Forward Signaling Channel of Inflation
joint with Ryan ChahrourYeji Sung (Federal Reserve Bank of San Francisco)
Macroeconomic Expectations and Cognitive Noise
11:00 - 11:30 Break
11:30 - 13:00 SESSION
Franck Portier (University College of London)
The Dominant Role of Expectations and Broad-Based Supply Shocks in Driving Inflation
joint with Chenyu Hou and Franck PortierPaolo Bonomolo (The Nederlansche Bank) & Valentina Gavazza (Stockholm University)
Uncertainty as a Source of Pessimism
13:00 - 14:00 Lunch
14:00 - 15:30 SESSION
Francesca Monti (Université Catholique de Louvain)
The inflation expectations of savers and borrowers
joint with Riccardo MasoloRyan Chahrour (Cornell University)
Risky Business Cycles
joint with Susanto Basu, Giacomo Candian & Rosen Valchev
15:30 - 16:00 Break
16:00 - 17:30 SESSION
Ippei Fujiwara (Keio University, Australian National University & CEPR)
Competition and the Phillips Curve
joint with Kiminori MatsuyamaStephanie Schmitt-Grohe (Columbia University)
Heterogeneous Downward Nominal Wage Rigidity: Foundations of a Nonlinear Phillips Curve
joint with Martin Uribe [Slides]
17:30 - 18:30 Drinks reception
DIRECTIONS
ESSEC Campus of La Défense (CNIT)
2 Place de la Défense
92800 Puteaux
ESSEC Executive Education
CNIT, level "PARVIS", entrance No 2.
Transportation
By RER (regional train): line A, LA DEFENSE station
By Metro: Metro line 1 LA DEFENSE station
By car: N13 motorway, exit Place Carpeaux
SPONSORS
This workshop is funded by CY Advanced Studies and by CY Initiative of Excellence (grant "Investissements d'Avenir" ANR- 16- IDEX-0008)
