Inflation and Debt – Challenges for Monetary Policy after Covid-19

Gemeinsame Konferenz des Walter Eucken Instituts und der Stiftung Geld & Währung

23. Juni 2022

Welcome

Lars P. Feld (University of Freiburg), Michael Krause (University of Cologne), Thomas M.J. Möllers (University of Augsburg)

Securing Non-inflationary Public Debt Sustainability and Central Bank Independence – A New Trilemma of Monetary Policy?

Volker Wieland (University of Frankfurt); Discussants: Lucrezia Reichlin (London Business School) and Cathérine Casanova (Swiss National Bank)

Keynote: Macroeconomics and Monetary Policy after Covid-19

Stephanie Schmitt-Grohé (Columbia University, NYC, USA)

Dinner, and Announcement of the Prize Winners

24. Juni 2022

I. Public and Private Debt

Public Debt Sustainability: Recent Developments and Trends

Cristina Checherita-Westphal (European Central Bank); Discussants: Xavier Debrun (National Bank of Belgium) and Christian Bayer (University of Bonn)

Lessons from the Past: What Are the Conditions for Debt Crises to Happen?

Christoph Trebesch (IfW and University of Kiel); Discussants: Lars P. Feld (University of Freiburg and Walter Eucken Institut) and Kerstin Bernoth (DIW Berlin)

II. Fiscal Theory of the Price Level / Inflation Expectations

(Macro-)Economic Consequences of High Debt Levels: Evidence and Insights for policy

Gernot Müller (University of Tübingen); Discussant: Michael Krause (University of Cologne)

Household Finances and Inflation Expectations

Lena Dräger (University of Hannover); Discussants: Dimitris Christelis (University of Glasgow) and Mirko Wiederholt (Sciences Po Paris)

III. Financial Stability / Realignment of Monetary Policy

Post-crisis Central Banking in Challenging Times: Lessons for Regulatory and Monetary Policy

Huw Pill (Bank of England); Discussant: Sylvia Kaufmann (Study Center Gerzensee)