ECB Forum on Central Banking 2020

Introductory speech

Christine Lagarde, President, European Central Bank

Session 1: Implications of fundamental global changes for central banks

De-globalisation? Global value chains in the post-COVID-19 age

Pol Antràs, Professor, Harvard University

Discussant: Susan Lund, Partner, McKinsey Global Institute

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

Macro-financial implications of climate change and the carbon transition

Rick van der Ploeg, Professor, University of Oxford

Discussant: Signe Krogstrup, Governor, Danmarks Nationalbank

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

Panel: Inflation objective, structural forces, and central bank communication

• Jordi Galí, Professor, Universitat Pompeu Fabra
• Annette Vissing-Jørgensen, Professor, University of California Berkeley
• Volker Wieland, Professor, Goethe University Frankfurt

Chair: Philip R. Lane, Member of the Executive Board, European Central Bank

Session 2: Macroeconomic stabilisation frameworks in a new economic environment

Monetary policy challenges from falling natural interest rates

Klaus Adam, Professor, University of Mannheim

Discussant: Argia Sbordone, Vice President and Function Head, Macroeconomic and Monetary Studies Function, Federal Reserve Bank of New York

Chair: Fabio Panetta, Member of the Executive Board, European Central Bank

Fiscal rules, policy and macroeconomic stabilisation in the euro area

Evi Pappa, Professor, Unversidad Carlos III Madrid

Discussant: Vítor Gaspar, Director, Fiscal Affairs Department, International Monetary Fund

Chair: Yves Mersch, Member of the Executive Board, European Central Bank

Panel: Monetary policy instruments and financial stability

• Markus Brunnermeier, Professor, Princeton University
• Lucrezia Reichlin, Professor, London Business School
• Hyun Song Shin, Economic Adviser and Head of Research, Bank for International Settlements

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

Policy panel

• Andrew Bailey, Governor, Bank of England
• Christine Lagarde, President, European Central Bank
• Jerome H. Powell, Chair of the Board of Governors of the Federal Reserve System

Moderator: Roula Khalaf, Editor, Financial Times

Closing remarks and Young economists' award announcement

Young economists’ competition