The central bank of the future: opportunities and challenges
10 June 2024
Central banks are currently facing big challenges. Their various business areas are undergoing fundamental structural changes. How should monetary policy strategies and communication adapt, in the light of the recent unanticipated surge of inflation and heightened uncertainty? What impact from increased inflation on price and wage-setting? How will monetary impulses transmit to the economy, given structural changes, notably digital transformation and AI? How to deal with persistent high uncertainty – how is monetary transmission affected, what role for central bankers as risk managers? What monetary policy toolkit for the post-GFC post-covid polycrisis environment? What implications from CBDC, how will central banks best deal with and embrace AI? How to respond to heightened geopolitical uncertainty and future shocks, including from climate change and the energy transition? Are central bank finances relevant for central bank independence and their ability to deliver on their price stability mandate? How to deal with central banks’ strongly expanded de iure or de facto scope of responsibilities – what implications might “mission creep” have on accountability and central bank independence?
Termin
Montag und Dienstag, 10. und 11. Juni 2024, 12.00 Uhr
Ort
Oesterreichische Nationalbank
Otto-Wagner-Platz 3, 1090 Wien
und online via Webex
Speeches and presentations
- Robert Holzmann – Opening remarks (PDF, 121 KB)
- Athanasios Orphanides – Keynote: The central bank of the future: challenges for monetary policy and central bank communication (PDF, 894 KB)
- Dirk Broeders – Central Bank Capital and Shareholder Relationship (PDF, 241 KB)
- Stefan Greppmair – Collateral Easing and Asset Scarcity: How Money Markets Benefit from Low-Quality Collateral (PDF, 642 KB)
- Kilian Rieder – Corridors of Power (PDF, 985 KB)
- Rosa Lastra – Dinner speech: Mission creep, democratic accountability and central bank independence (PDF, 200 KB)
- Vincenzo Cuciniello – Market Perceptions, Monetary Policy, and Credibility (PDF, 560 KB)
- Andriy Sirchenko – Fed’s policy rule: A discrete-choice regime-switching approach (PDF, 383 KB)
- Johannes Zahner – Whose Inflation Rates Matter Most? A DSGE Model and Machine Learning Approach to Monetary Policy in the Euro Area (PDF, 405 KB)
- Fiorella De Fiore – Panel discussion on Monetary policy in the polycrisis new normal (PDF, 1 MB)
- Michal Horvath – Panel discussion on Monetary policy in the polycrisis new normal (PDF, 829 KB)
- Frank Smets – Panel discussion on Monetary policy in the polycrisis new normal (PDF, 574 KB)
- Juan Angel Garcia – The return of inflation and inflation risks (PDF, 2 MB)
- Jean-Paul L’Huillier – Can Supply Shocks Be Inflationary with a Flat Phillips Curve? (PDF, 766 KB)
- Karin Klieber – Maximally Forward-Looking Core Inflation (PDF, 3 MB)
