“Challenges for economics and policy in a low-growth, low-inflation environment”

Frankfurt, 29-30 May 2017

The Bank of Canada and the European Central Bank will host a research conference dedicated to the topic of low global growth and inflation on 29 and 30 May 2017 in Frankfurt. The conference will bring together top researchers from academia, central banks and other policy institutions to present research findings.

The anaemic response of the global economy to low interest rates and unconventional policies since the financial crisis continues to surprise. Underwhelming growth rates and low inflation pose challenging questions to canonical models and traditional policy recommendations. The conference aims to provide researchers and policymakers an opportunity to present theoretical and empirical research related to the subdued global growth performance. Of particular relevance are the implications for global linkages and monetary policies in an environment of high economic and financial integration.

Relevant topics include, but are not limited to:

• the determinants of low global growth
• the consequences of lower growth for global linkages, global trade and inflation
• the consequences of low global growth for the financial sector and financial stability
• the linkage between low global growth and lower real and neutral interest rates
• the challenges for monetary policy in an environment of anaemic growth, low inflation and declining neutral rates of interest

Invited speakers

Keynote address: Philippe Aghion (Harvard University)

Panel discussion

• Lucrezia Reichlin (London Business School)
• Sebnem Kalemli-Ozcan (University of Maryland)
• Peter Praet (European Central Bank)
• Timothy Lane (Bank of Canada)

Submissions

Authors are invited to submit theoretical and empirical papers on the above-mentioned topics. Submissions must consist of either a full paper (preferred) or an extended abstract and should be sent in a PDF to bocecb-conference-2017@ecb.europa.eu. The submission deadline is 3 March 2017. Authors of accepted papers will be notified by 31 March 2017. The format of the conference will include a discussant for each paper.

Expenses

The organisers will cover reasonable travel expenses for paper presenters and discussants. Participants from central banks and other official institutions are expected to cover their own expenses.

Organisers

Geoffrey Dunbar, Bank of Canada
Livio Stracca, European Central Bank

Bernd Schnatz, European Central Bank
Peter McAdam, European Central Bank
David Lodge, European Central Bank