On December 1st and 2nd 2022, Banco de España hosted its Fifth Annual Research Conference in its Madrid headquarters.
The pandemic caused by COVID-19 had a very deep and significant impact on economic relationships, especially on international trade, social and employment policies, technological developments, and the macroeconomic context. Against this background, economic researchers and policy-makers were coming to terms with the duration of these changes and assessing how permanent they would be. The aim of the conference was to bring together world leading scholars and policy-makers in order to discuss the medium to long-run consequences of the pandemic and the policy measures to address them. Pol Antrás, Nytia Pandalai-Nayar, Richard Blundell, Antonella Trigari, Karel Mertens, Paul Mizen, Luca Fornaro, and Michael Weber were some of the distinguished researchers who participated in the conference.
More generally, our Annual Research Conference is aimed at becoming Banco de España’s flagship research conference, and at reaffirming Banco de España’s commitment to research as an indispensable tool for improving economic policy-making.
Information
1 December 2022 - 2 December 2022
Banco de España, Madrid
Programme ( 764 KB )
Conference videos
Speakers
1 December
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- 14:15h - 14:30h
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Welcome address
Carlos Thomas
, Associate Directorate General Economics and Research
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- 14:30h - 16:30h
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TRADE
Chair: Juan Francisco Jimeno
(Banco de España)De-globalisation? Global value chains in the post-COVID-19 age
(687 KB)Author: Pol Antràs
Speaker: Pol Antràs
(Harvard University)Discussant: Gianmarco Ottaviano
(Bocconi University)Information frictions and news media in global value chains
(2 MB)Authors: Ha Bui (The University of Texas at Austin), Zhen Huo (Yale University), Andrei A. Levchenko (University of Michigan) and Nitya Pandalai-Nayar (The University of Texas at Austin)
Speaker: Nitya Pandalai-Nayar
(The University of Texas at Austin)Discussant: Alejandro Cuñat
(University of Vienna)
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- 16:30h - 17:00h
- Coffee break
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- 17:00h - 19:00h
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INEQUALITY
Chair: Olympia Bover
(Banco de España)Covid-19: the impacts of the pandemic on inequality
(5 MB)Authors: Richard Blundell (University College London), Robert Joyce (Institute for Fiscal Studies), Monica Costa Dias (University of Bristol) and Xiaowei Xu (Institute for Fiscal Studies)
Speaker: Richard Blundell
(University College London)Discussant: Monica Martinez-Bravo
(CEMFI)Temporary layoffs, loss-of-recall and cyclical unemployment dynamics
(2 MB)Authors: Mark Gertler (New York University), Christopher K. Huckfeldt (Cornell University) and Antonella Trigari (Bocconi University)
Speaker: Antonella Trigari
(Bocconi University)Discussant: Marianna Kudlyak
(Federal Reserve Bank of San Francisco)
2 December
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- 09:30h - 11:30h
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PRODUCTIVITY AND NEW TECHNOLOGIES
Chair: Enrique Moral-Benito
(Banco de España)Work from home before and after the COVID-19 outbreak
(741 KB)Authors: Alexander Bick (Federal Reserve Bank of St. Louis), Adam Blandin (Virginia Commonwealth University) and Karel Mertens (Federal Reserve Bank of Dallas)
Speaker: Karel Mertens
(Federal Reserve Bank of Dallas)Discussant: Diego Puga
(CEMFI)The impact of COVID-19 on productivity
(630 KB)Authors: Nicholas Bloom (Stanford University), Philip Bunn (Bank of England), Paul Mizen (Nottingham University), Pawel Smietanka (Deutsche Bundesbank) and Gregory Thwaites (University of Nottingham)
Speaker: Paul Mizen
(Nottingham University)Discussant: Carolina Villegas
(ESADE)
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- 11:30h - 12:00h
- Coffee break
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- 12:00h - 14:00h
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THE MACROECONOMY
Chair: Eva Ortega
(Banco de España)Monetary policy during unbalanced global recoveries
(821 KB)Authors: Luca Fornaro (CREI) and Federica Romei (University of Oxford)
Speaker: Luca Fornaro
(CREI)Discussant: Omar Rachedi
(ESADE)Authors: Michael Weber (Chicago Booth), Yuriy Gorodnichenko (University of California, Berkeley) and Olivier Coibion (The University of Texas at Austin)
Speaker: Michael Weber
(Chicago Booth)Discussant: Gizem Kosar
(Federal Reserve Bank of New York)
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- 14:00h - 14:15h
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Farewell remarks
Ángel Gavilán, Director General Economics, Statistics and Research