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Fifth Banco de España Annual Research Conference

1 – 2 December 2022
Banco de España, Madrid

Information

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 are coming to terms with the duration of these changes and assessing how permanent they will 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 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.

More information

Presentations

1 December 2022
 
14.15 - 14.30
Welcome address

Carlos ThomasOpens in a new window, Associate Directorate General Economics and Research

VideoOpens in a new window

14.30 - 16.30
TRADE

Chair: Juan Francisco JimenoOpens in a new window (Banco de España)

De-globalisation? Global value chains in the post-COVID-19 age File PDF: Opens in a new window (687 KB)

Author: Pol Antràs

VideoOpens in a new window

Speaker: Pol AntràsOpens in a new window (Harvard University)

Presentation File PDF: Opens in a new window (1 MB)

Discussant: Gianmarco OttavianoOpens in a new window (Bocconi University)

Presentation File PDF: Opens in a new window (280 KB)

Information frictions and news media in global value chains File PDF: Opens in a new window (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)

VideoOpens in a new window

Speaker: Nitya Pandalai-NayarOpens in a new window (The University of Texas at Austin)

Presentation File PDF: Opens in a new window (765 KB)

Discussant: Alejandro CuñatOpens in a new window (University of Vienna)

Presentation File PDF: Opens in a new window (100 KB)

16.30 - 17.00
Coffee break
17.00 - 19.00
INEQUALITY

Chair: Olympia BoverOpens in a new window (Banco de España)

Covid-19: the impacts of the pandemic on inequality File PDF: Opens in a new window (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)

VideoOpens in a new window

Speaker: Richard BlundellOpens in a new window (University College London)

Presentation File PDF: Opens in a new window (2 MB)

Discussant: Monica Martinez-BravoOpens in a new window (CEMFI)

Presentation File PDF: Opens in a new window (3 MB)

Temporary layoffs, loss-of-recall and cyclical unemployment dynamics File PDF: Opens in a new window (2 MB)

Authors: Mark Gertler (New York University), Christopher K. Huckfeldt (Cornell University) and Antonella Trigari (Bocconi University)

VideoOpens in a new window

Speaker: Antonella TrigariOpens in a new window (Bocconi University)

Presentation File PDF: Opens in a new window (1 MB)

Discussant: Marianna KudlyakOpens in a new window (Federal Reserve Bank of San Francisco)

2 December 2022
 
09.30 - 11.30
PRODUCTIVITY AND NEW TECHNOLOGIES

Chair: Enrique Moral-BenitoOpens in a new window (Banco de España)

Work from home before and after the COVID-19 outbreak File PDF: Opens in a new window (741 KB)

Authors: Alexander Bick (Federal Reserve Bank of St. Louis), Adam Blandin (Virginia Commonwealth University) and Karel Mertens (Federal Reserve Bank of Dallas)

VideoOpens in a new window

Speaker: Karel MertensOpens in a new window (Federal Reserve Bank of Dallas)

Presentation File PDF: Opens in a new window (733 KB)

Discussant: Diego PugaOpens in a new window (CEMFI)

Presentation File PDF: Opens in a new window (97 KB)

The impact of COVID-19 on productivity File PDF: Opens in a new window (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)

VideoOpens in a new window

Speaker: Paul MizenOpens in a new window (Nottingham University)

Presentation File PDF: Opens in a new window (4 MB)

Discussant: Carolina VillegasOpens in a new window (ESADE)

Presentation File PDF: Opens in a new window (594 KB)

11.30 - 12.00
Coffee break
12.00 - 14.00
THE MACROECONOMY

Chair: Eva OrtegaOpens in a new window (Banco de España)

Monetary policy during unbalanced global recoveries File PDF: Opens in a new window (821 KB)

Authors: Luca Fornaro (CREI) and Federica Romei (University of Oxford)

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Speaker: Luca FornaroOpens in a new window (CREI)

Presentation File PDF: Opens in a new window (689 KB)

Discussant: Omar RachediOpens in a new window (ESADE)

Presentation File PDF: Opens in a new window (112 KB)

The expected, perceived, and realized inflation of U.S. households before and during the COVID-19 pandemic File PDF: Opens in a new window (982 KB)

Authors: Michael Weber (Chicago Booth), Yuriy Gorodnichenko (University of California, Berkeley) and Olivier Coibion (The University of Texas at Austin)

VideoOpens in a new window

Speaker: Michael WeberOpens in a new window (Chicago Booth)

Presentation File PDF: Opens in a new window (5 MB)

Discussant: Gizem KosarOpens in a new window (Federal Reserve Bank of New York)

Presentation File PDF: Opens in a new window (592 KB)

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