5th WE_ARE_IN Macroeconomics and Finance Conference 2025
Bank for International Settlements - European Central Bank - Centre for Economic Policy Research
Monday, 20 and Tuesday, 21 October 2025
Frankfurt am Main
The Centre for Economic Policy Research (CEPR), the Bank for International Settlements (BIS) and the European Central Bank (ECB) are organising their 2025 conference WE_ARE_IN Macroeconomics and Finance. The aim of the conference is to bring together women in economics who will present and discuss new research on macroeconomics and finance which is of particular interest to central banks.
WE_ARE_IN stands for Women in Economics: Advancing Research in Economics Internationally. It complements the WE_ARE initiative, a CEPR seminar series in which junior women present their work and receive constructive feedback from their peers and from senior economists.
Live webcast from 10:00 CET on 20 October
Programme
times are CET
* indicates the presenter
- 9:30
-
Registration and coffee
- 10:00
-
Welcome remarks
Isabel Schnabel, ECB and CEPR
-
Session 1: Financial Intermediation and Banking
Chair: Agnese Leonello*, ECB and CEPR
- 10:15
-
Breaking Barriers to Financial Access: Cross-Platform Digital Payments and Credit Markets
Authors:
- Shashwat Alok, Indian School of Business
- Pulak Ghosh, Indian Institute of Management (IIMB), Bangalore)
- Nirupama Kulkarni, CAFRAL
- Manju Puri*, Duke University
Discussant: Paolina Medina Palma*, University of Houston
- 11:00
-
Break
- 11:15
-
Common Ownership and Climate Lending
Authors:
- Elena Carletti*, Bocconi University and CEPR
- Anja Đuranović, Utrecht University School of Economics
- Irene Monasterolo, Utrecht University School of Economics and CEPR
- Steven Ongena, University of Zürich, Swiss Finance Institute, KU Leuven
Discussant: Eleonora Sfrappini*, University of St Andrews
- 12:00
-
Credit Card Banking
Authors:
- Itamar Drechsler, University of Pennsylvania
- Hyeyoon Jung*, Federal Reserve Bank of New York
- Weiyu Peng, University of Pennsylvania
- Dominik Supera, Columbia Business School
- Guanyu Zhou, University of Pennsylvania
Discussant: Larissa Schäfer*, Frankfurt School of Finance & Management and CEPR
- 12:45
-
Lunch and posters
-
Session 2: Innovation and Productivity
Chair: Carolina Villegas Sanchez*, Esade, ECB and CEPR
- 14:00
-
CEO-Firm Matches and Productivity in 42 Countries
Authors:
- Amanda Dahlstrand, University of Zurich
- Dávid László, London School of Economics
- Helena Schweiger, European Bank for Reconstruction and Development
- Oriana Bandiera, London School of Economics
- Andrea Prat, Columbia University
- Raffaella Sadun*, Harvard Business School and CEPR
Discussant: Juanita Gonzalez*, London School of Economics
- 14:45
-
Superstar Firms through the Generations
Authors:
- Yueran Ma*, University of Chicago and CEPR
- Benjamin Pugsley, University of Notre Dame
- Kaspar Zimmermann, Frankfurt School of Finance & Management
Discussant: Marta Morazzoni*, University College London, IFS and CEPR
- 15:30
-
Break
- 16:00
-
Policy Panel: How to revive the European economy and unlock its potential?
Moderator: Stefanie Flanders, Bloomberg
Panellists:
- Beata Javorcik, European Bank for Reconstruction and Development, Oxford University and CEPR
- Andréa M Maechler, Bank for International Settlements
- Isabel Schnabel, European Central Bank and CEPR
- 17:15
-
Group photo
- 17:30
-
By invitation only: ECB reception followed by dinner
- 8:45
-
Coffee and Registration
- 9:00
-
Welcome speech
Philip R. Lane, ECB and CEPR
-
Session 3: International Economics
Chair: Hélène Rey*, London Business School and CEPR
- 9:30
-
Trading Around Geopolitics
Authors:
- Giancarlo Corsetti, European University Institute and CEPR
- Banu Demir, Oxford, Bilkent and CEPR
- Beata Javorcik*, European Bank for Reconstruction and Development, Oxford University and CEPR
Discussant: Feodora Teti*, ifo Institute, ECB and CEPR
- 10:15
-
Geopolitical Risk and Global Banking
Authors:
- Friederike Niepmann, Board of Governors of the Federal Reserve System
- Leslie Shen*, Federal Reserve Bank of Boston
Discussant: Veronica De Falco*, Imperial College
- 11:00
-
Break
-
Session 4: Heterogeneity
Chair: Fiorella De Fiore*, BIS and CEPR
- 11:15
-
Fiscal Policy and Sectoral Reallocation According to HANK-SAM-IO
Authors:
- Alexey Gorn, University of Liverpool
- Nicolò Rizzotti, University of Chicago
- Antonella Trigari*, Bocconi University and CEPR
Discussant: Anna Rogantini Picco*, ECB and CEPR
- 12:00
-
HANKSSON
Authors:
- Florin O. Bilbiie, University of Cambridge
- Sigurd Mølster Galaasen, Norges Bank
- Refet Gürkaynak, Bilkent University
- Mathis Mæhlum, Norges Bank
- Kristina Molnar*, Norwegian School of Economics
Discussant: Morgane Richard*, SciencesPo
- 12:45
-
Lunch and posters
-
Session 5: Monetary Policy
Chair: Caterina Mendicino*, ECB
- 14:15
-
Monetary Policy and Sovereign Risk in Emerging Economies
Authors:
- Cristina Arellano, Federal Reserve Bank of Minneapolis
- Yan Bai*, University of Rochester and CEPR
- Gabriel Mihalache, Stony Brook University
Discussant: Ozge Akinci*, Federal Reserve Bank of New York and CEPR
- 15:00
-
Break
- 15:15
-
A Tale of Two Margins: Monetary Policy and Capital Misallocation
Authors:
- Silvia Albrizio, IMF
- Beatriz Gonzalez*, Banco de España
- Dmitry Khametshin, Banco de España
Discussant: Daria Finocchiaro*, Sveriges Riksbank and CEPR
- 16:00
-
The Systematic Origins of Monetary Policy Shocks
Authors:
- Lukas Hack, ETH Zürich
- Klodiana Istrefi*, ECB and CEPR
- Matthias Meier, University of Mannheim
Discussant: Francesca Monti*, UCLouvain and CEPR
- 16:45
-
Closing remarks
Fiorella De Fiore, Agnese Leonello, Caterina Mendicino, Helene Rey, Carolina Villegas Sanchez
- 16:55
-
End of conference
-
Trade Fragmentation, Inflationary Pressures and Monetary Policy
Authors:- Maria Ludovica Ambrosino*, London Business School
- Jenny Chan, Bank of England
- Silvana Tenreyro, London School of Economics and CEPR
-
A Novel Estimation of Fiscal Multipliers: Time Variation and High Frequency Shocks
Authors:
- Valeria Gargiulo*, Universitat Pompeu Fabra
- Atsushi Inoue, Vanderbilt University
- Barbara Rossi, EUI and CEPR
-
Bailing Out Homeowners: Disaster Aid and Mortgage Default after Natural Disasters
Author: Marina Hoch*, University of Mannheim
-
Homeownership and Attention to Inflation: evidence from Information Treatments
Authors:
- Yuriy Gorodnichenko, University of California, Berkeley, and CEPR
- Jessica Piccolo*, University of Padova
-
Inflation and the Gender Wage Gap: The Role of Belief Frictions for Wage Bargaining
Authors:
- Nicolò Maffei-Faccioli, Norges Bank
- Lovisa Reiche*, University of Oxford & BI Norwegian Business School
-
Treat - Remind - Repeat! A Natural Field Experiment in a Tax Amnesty Context
Authors:
- Christian Bauer, Vienna University of Economics and Business
- Erich Kirchler. Vienna University of Economics and Business
- Gayline Vuluku*, Austrian Institute of Economic Research - WIFO
-
The Value of Contingent Liquidity From Banks to Nonbank Financiers
Author: Chi (“Clara”) Xu*, Wharton, University of Pennsylvania
Paper presentations 25 minutes / Discussants 10 minutes / Audience Q&A 10 minutes
This programme may be subject to change without notice.
Audiovisual notice: A photographer will be present at the event taking photographs for our internet / intranet webpage. If you prefer not to have your photograph taken, please approach the photographer directly. The event may be filmed and the video recording, or parts of it, may be published on the internet / intranet.
Organisational information
European Central Bank
Main Building
Sonnemannstrasse 20
60314 Frankfurt am Main
English
Participants are requested to arrange their own transfers, unless indicated otherwise.
- Fiorella De Fiore, BIS and CEPR
- Agnese Leonello, ECB and CEPR
- Caterina Mendicino, ECB
- Hélène Rey, London Business School and CEPR
- Carolina Villegas Sanchez, Esade, ECB and CEPR
- Laura Alfaro, Harvard University and CEPR
- Kenza Benhima, University of Lausanne and CEPR
- Diana Bonfim, Banco de Portugal, Católica Lisbon and CEPR
- Laura Bottazzi, Bologna University, Bocconi University, CEPR and IGIER
- Nina Boyarchenko, Federal Reserve Bank of New York
- Cristina Cella, Sveriges Riksbank
- Daria Finocchiaro, Sveriges Riksbank and CEPR
- Claudia Foronim, ECB
- Vasso Ioannidou, Bayes Business School
- Hyeyoon Jung, Federal Reserve Bank of New York
- Luciana Juvenal, IMF
- Sebnem Kalemli-Ozcan, University of Maryland and CEPR
- Isabelle Mejean, Sciences Po and CEPR
- Camelia Minoiu, Federal Reserve Bank of Atlanta
- Silvia Miranda-Agrippino, Federal Reserve Bank of New York and CEPR
- Tsvetelina Nenova, BIS
- Huyen Nguyen, Halle Institute for Economic Research and Friedrich Schiller University Jena
- Evi Pappa, Universidad Carlos III de Madrid and CEPR
- Diane Pierret, University of Luxembourg and CEPR
- Larissa Schäfer, Frankfurt School of Finance & Management and CEPR
- Veronika Selezneva, Paris Dauphine University
- Vania Stavrakeva, London Business School and CEPR
- Andrea Sy, Center for Monetary and Financial Studies (CEMFI)
- Victoria Vanasco, Centre de Recerca en Economia Internacional (CREI), BSE and CEPR