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SUMMARY:Monetary policy in uncertain times:
towards robustness and resilience
60th SUERF Anniversary Conference &
50th OeNB Annual Economic Conference
UID:https://bankinglibrary.com/?p=7385
LOCATION:Vienna, Austria
DTSTAMP:20230522Z
DTSTART:20230522Z
DTEND:20230523Z
DESCRIPTION:CfP Deadline Date:February 28, 2023
Conference Event:May 22-23, 2023
Event Location:Vienna, Austria
Organizer(s):SUERF and OeNB
The European Money and Finance Forum and the Oesterreichische Nationalbank
(OeNB) invite papersubmissions for the 60th SUERF Anniversary Conference
and the 50th OeNB Annual Economic Conference, which will take place in
hybrid form in Vienna on 22-23 May 2023, on the topic of “Monetary policy
in uncertain times: towards robustness and resilience”
Monetary policy strategy reviews conducted in the early 2020s by several
central banks were informed by a persistent undershooting of inflation
targets. A key aim was thus to ensure the effectiveness of monetary policy
at the effective lower bound on interest rates, and to bring inflation and
inflation expectations back up to target. Given the dramatic overshooting
of inflation above target starting from 2021, the question arises whether
the analyses made at the time were overly focused on a particular state of
the world and failed to be robust to the possibility of dramatically and
fast-changing circumstances. The current environment is characterized by
higher volatility and higher uncertainty and has shown how large and sudden
shocks in a matter of months can sharply change economic and financial
conditions, not only locally but also globally. The conference aims to
explore avenues to render central banks’ strategies and analytical tools
more robust and resilient to unexpected changes in the conditions under
which they may need to operate. How to make monetary policy decisions
robust and resilient to uncertain outcomes. And how to tailor central bank
communication to high inflation and high uncertainty.
SUERF and the OeNB welcome scientific theoretical and empirical papers
which fit into the overall theme of the conference, and contributions on
the following, non-exhaustive list of themes:• Optimal inflation target
under high uncertainty and multiple shocks• Monetary policy strategies
under high uncertainty• Applications of robust control and
decision-theory to monetary policy decision procedures under high
uncertainty• How to improve forecasting model performance, notably for
inflation in a high volatility environment or around turning points?•
Shock identification, non-linear effects, changing transmission of shocks,
regime-switching effects with large shocks and high inflation• New
developments in model simulations and scenario analysis• Interrelations
between high inflation, wage formation and profit margins•
Interactions/coordination of monetary, fiscal and financial stability
policies• Central bank communication under high uncertainty, with high
inflation and during regime-switch period
SUBMISSION: Please submit your (draft) paper by e-mail attachment in pdf
format to suerf@oenb.at by 28th February 2023. Papers published prior to
the conference are not eligible, working/discussion papers are eligible.
OTHER INFORMATION:
BEST PAPERS: The 8-10 best graded papers will be invited to be presented in
two academic sessions at the conference on 23 May 2023, between 9:00 and
12:15 CET in Vienna or online, and will be shared among all conference
participants, including policymakers, top academics and financial
practitioners from around the world, as well as posted on SUERF’s
conference website.
CONFERENCE COSTS: In the event of onsite presentation, the OeNB will pay
for accommodation and travel costs (economy class) of the presenting author
if the presenter’s institution cannot cover these costs. Speakers from
central banks, financial and other policy institutions are expected to
cover their costs in full.
Link Conference: Monetary policy in uncertain times: towards robustness and
resilience. 60th SUERF Anniversary Conference & 50th OeNB Annual
Economic Conference
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