Macroeconomics and Monetary Policy

Friday, March 26, 2021
Federal Reserve Bank of San Francisco
Online

Welcoming Remarks
Mary C. Daly, President and CEO, Federal Reserve Bank of San Francisco

Session 1: The People versus the Markets: A Parsimonious Model of Inflation Expectations

Chair: Andrew Foerster, Federal Reserve Bank of San Francisco
Authors: Ricardo Reis, London School of Economics
Discussants: Fernanda Nechio, Banco Central do Brasil
Ulrike M. Malmendier, University of California, Berkeley

Download paper (pdf, 820 kb)

Keynote Address: Response to the Covid-19 pandemic: UK and US Experiences

Introduction: Sylvain Leduc, Federal Reserve Bank of San Francisco
Speaker: Silvana Tenreyro, London School of Economics and external member of the Monetary Policy Committee, Bank of England

Session 2: Optimal Monetary Policy in Production Networks

Chair: Andrew Foerster, Federal Reserve Bank of San Francisco
Authors: Jennifer La’O, Columbia University
Alireza Tahbaz-Salehi, Kellogg School of Management, Northwestern University
Discussants: Andrea Ferrero, University of Oxford
Mathieu Taschereau-Dumouchel, Cornell University

Download paper (pdf, 487 kb)

Session 3: The Micro Anatomy of Macro Consumption Adjustments

Chair: Nicolas Petrosky-Nadeau, Federal Reserve Bank of San Francisco
Authors: Rafael Guntin, New York University
Pablo Ottonello, University of Michigan
Diego Perez, New York University
Discussants: Corina Boar, New York University
Guido Lorenzoni, Northwestern University

Download paper (pdf, 1.33 mb)

Session 4: Sovereign Default and the Decline in Interest Rates

Chair: Nicolas Petrosky-Nadeau, Federal Reserve Bank of San Francisco
Authors: Max Miller, The Wharton School, University of Pennsylvania
James D. Paron, The Wharton School, University of Pennsylvania
Jessica A Wachter, The Wharton School, University of Pennsylvania
Discussants: Carolin Pflueger, Harris School of Public Policy, University of Chicago
Cristina Arellano, Federal Reserve Bank of Minneapolis

Download paper (pdf, 979 kb)

Scheduled session speakers in bold.