Monetary policy and structural tectonic shifts

OeNB and SUERF to host 52^nd joint Economics Conference in Vienna

Recent global shocks have triggered major structural shifts that have also affected wages and prices. Central banks need to adapt to these challenges to safeguard price stability. Under the heading “Monetary policy and structural tectonic shifts,” the upcoming Economics Conference on May 22 and 23, 2025, in Vienna, will bring together high-level representatives from central banking, academia and international organizations to discuss these and related challenges for central banks. The conference is organized jointly by the Oesterreichische Nationalbank (OeNB) and SUERF.

In recent years, profound shocks have reshaped economic structures and supply conditions, challenging monetary policymakers worldwide. And challenges are here to stay, from geopolitical risks and growing trade barriers to AI and climate change. They are driving structural shifts that have far-reaching implications for productivity and labor – and hence wages, prices and overall economic stability.

How can central banks adapt and respond?
The need to navigate these complex changes raises questions for central banks: How can they effectively respond to major structural shifts while safeguarding price stability? And at the same time support sustainable economic growth and employment? These are only some of the questions that will be addressed at this year’s OeNB½SUERF Economics Conference in Vienna.

The conference will offer a mix of both academic and policy sessions on pressing questions of our time, among them:

• Inflation: How can central banks deal with enormous inflationary pressures driven by major shifts in supply chains, geopolitical risks, technological advancements?
• Productivity: How can monetary policy support productivity growth and foster investment in productivity-enhancing technologies?
• Labor: How can researchers adapt their models to adequately reflect structural changes in the labor market, and what will be the implications for monetary policy?

Who will attend this year’s conference?
OeNB Governor Robert Holzmann and SUERF President Donato Masciandaro are welcoming top international speakers, including Daniel Gros (Institute for European Policymaking @ Bocconi University), Huw Pill (Bank of England) and Klaus Schmidt-Hebbel (Universidad del Desarrollo) – as well as many other key players in monetary policy and economic research. The OeNB½SUERF Economics Conference can be attended online or in person on the OeNB’s premises in Vienna.
 

Economics Conference
The OeNB’s Economics Conference has a long-standing tradition of bringing together renowned experts in economics, central banking and supervision. In recent years, Austria’s central bank – the Oesterreichische Nationalbank (OeNB) – has organized the annual Economics Conference in cooperation with SUERF.

SUERF – The European Money and Finance Forum – is an independent, non-profit network association of central banks, supervisors, financial institutions, academic institutions and financial sector practitioners.