ESCB Challenges for Monetary Policy Transmission in a Changing World (ChAMP) Research Network
8th ChaMP Workstream 2 Workshop
Friday, 31 October 2025
Oesterreichische Nationalbank
Vienna
Programme
- 08:30
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Registration
- 09:00
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Session 1
Chair: Philipp Hartmann (European Central Bank)
- 09:00
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Monetary policy in the Euro Area: When the Phillips curves... are curves
Alex Grimaud (Oesterreichische Nationalbank)
Discussant: Joris Tielens (Nationale Bank van België/Banque Nationale de Belgique) - 09:40
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Monetary Policy Transmission in the Euro Area: Is this Time Different? Chapter II: A Tale of Inflation, Expectations and Shocks
Andrejs Zlobins (Bank of Latvia)
Discussant: Alexandre Carrier (European Central Bank) - 10:20
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Monetary Policy Under Multiple Financing Constraints
Alejandro van der Ghote (European Central Bank)
Discussant: Alex Grimaud (Oesterreichische Nationalbank) - 11:00
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Coffee Break
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Session 2
Chair: Emmanuel Dhyne (Nationale Bank van België/Banque Nationale de Belgique)
- 11:30
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Economic structure and the real effects of monetary policy
Elisa Saporito (European Central Bank)
Discussant: Alessandro Cantelmo (Banca d'Italia) - 12:10
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Cross-country project on shock transmission in a currency union
Chiara Osbat (European Central Bank)
- 12:50
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General communication on ChaMP
Emmanuel Dhyne (Nationale Bank van België/Banque Nationale de Belgique) and Philipp Hartmann (European Central Bank)
- 13:00
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Lunch
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Session 3
Chair: Maria Valderrama (Oesterreichische Nationalbank)
- 14:00
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Micro and macro cost-price dynamics in normal times and during inflation surges
Joris Tielens (Nationale Bank van België/Banque Nationale de Belgique)
Discussant: Alari Paulus (Eesti Pank) - 14:40
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Consumer Price Stickiness in the Euro Area During an Inflation Surge
Erwan Gautier (Banque de France)
Discussants: Emmanuel Dhyne (Nationale Bank van België/Banque Nationale de Belgique) - 15:20
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Coffee Break
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Session 4
Chair: Gonzalo Paz Pardo (European Central Bank)
- 15:50
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Robust monetary policy response to energy price shocks
Alexandre Carrier (European Central Bank)
Discussant: Maria Valderrama (Oesterreichische Nationalbank) - 16:30
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How do monetary policy, monetary policy shocks, and financial frictions impact total factor productivity?
Michael Sigmund (Oesterreichische Nationalbank)
Discussant: Olga Goldfayn-Frank (Bundesbank) - 17:10
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Closing Remarks
Venue: Oesterreichische Nationalbank,
Otto Wagner Platz 3-9
Vienna
Austria
English
Participants are requested to arrange their own transfers, unless indicated otherwise.