Workshop: Modelling The Macroeconomy in Risky Times
Event Type
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Macroeconomics develops models to study interactions between agents in general equilibrium. It is therefore well suited to understanding scenarios and risks, as well as the impact policies or economic shocks can have on the economy and individual households. This workshop brings together leading policy-based researchers to outline various ways of capturing risk in macroeconomics.
The workshop will allow both for the presentation and discussion of results and approaches. It is suitable for economists from industry and the financial sector, as well as central banks and academics. It is being organised jointly by the National Institute of Economic and Social Research, the OMFIF Foundation, the Centre for Macroeconomics, the Federal Reserve Bank of St Louis, and the Olin School of Business.
Please find the live-stream for the two sessions below (listen with headphones on and volume up for best results):
Agenda:
12:00 REGISTRATION AND LUNCH
13:00 OPENING REMARKS
Jim Bullard, President and Chief Executive Officer, Federal Reserve Bank of St Louis
Mark Taylor, Dean, Olin Business School, Washington University in St Louis
13:15 SESSION A: PRESENTATIONS
“Modelling Uncertain Times using a Global Model” SLIDES
Arno Hantzsche and Garry Young (NIESR and Centre for Macroeconomics)
“Assessing Macroeconomic Tail Risk”
Francesca Loria (Federal Reserve Board), Christian Matthes (Federal Reserve Bank of Richmond) and Donghai Zhang (University of Bonn)
“Economic Policymakers’ Uncertainty”
Anna Cieslak (Duke University), Stephen Hansen and Michael McMahon (University of Oxford and Centre for Macroeconomics) SLIDES
15:15
15:45 SESSION B: PRESENTATIONS
“Optimal Monetary Policy for the Masses”
James Bullard and Riccardo DiCecio (Federal Reserve Bank of St Louis) SLIDES
“What Country Characteristics Drive Currency Premia?” SLIDES
Ilias Filippou, David Rapach, Mark Taylor and Guofu Zhou (Olin Business School)
“Brexit, productivity growth and the equilibrium real interest rate”
Ben Broadbent, Federico Di Pace, Thomas Drechsel, Richard Harrison and
Silvana Tenreyro (Bank of England and Centre for Macroeconomics)
17:45 CLOSING REMARKS
Garry Young, Director of Macroeconomic Modelling and Forecasting, NIESR
David Marsh, Acting Chairman, OMFIF Foundation
Please note this event is by invitation only