ECB Forum on Central Banking 2022


Session 3: Real estate boom-bust cycles and monetary policy

Chair: Luis de Guindos, Vice-President, European Central Bank

Article: “Real estate booms and busts: implications for monetary and macroprudential policy in Europe”

John Muellbauer, Professor, Nuffield College, University of Oxford

Speaker: Giovanni Dell’Ariccia, Deputy Director of Research, International Monetary Fund

Session 4: Global Value Chains, Supply Bottlenecks and International Trade

Chair: Luis de Guindos, Vice-President, European Central Bank

Document: “Global Supply Chain Pressures, International Trade and Inflation”

Şebnem Kalemli-Özcan, Professor, University of Maryland (with Julian di Giovanni, Federal Reserve Bank of New York, Álvaro Silva, University of Maryland, and Muhammed Yıldırım, Harvard University)

Speaker: Gabriel Felbermayr, Director, Austrian Institute for Economic Research


Coffee break


Panel 2: The role of inflation expectations in monetary policymaking

Chair: Isabel Schnabel, Member of the Executive Board, European Central Bank

  • Ulrike Malmendier, Professor, University of California at Berkeley
  • Loretta J. Mester, President, Federal Reserve Bank of Cleveland
  • Erik Nielsen, Group Chief Economic Advisor, UniCredit
  • Ricardo Reis, Professor, London School of Economics




Strategy Panel

  • Andrew Bailey, Governor, Bank of England
  • Agustín Carstens, Managing Director, Bank for International Settlements
  • Christine Lagarde, President, European Central Bank
  • Jerome Powell, Chairman, Federal Reserve Board of Governors

Moderator: Francine Lacqua, Presenter and Editor-in-Chief, Bloomberg Television


Young Economist Award Ceremony

Closing remarks

Christine Lagarde, President, European Central Bank

Group photo (all participants)

6:30 p.m.

Reception and dinner offered by the Banco de Portugal