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Inflation: Drivers and Dynamics 2025 Conference.

 

This annual conference, hosted by the European Central Bank and the Center for Inflation Research at the Federal Reserve Bank of Cleveland, brings together top researchers and policymakers from academia, central banks, and other policy institutions to present research findings related to inflation.

 

Session 3 – Firm Pricing Theories

  

Session chair: Ina Hajdini, Federal Reserve Bank of Cleveland

 

“Rationing Under Sticky Prices”

Tom D. Holden, Deutsche Bundesbank

Discussant: Andrey Alexandrov, Tor Vergata University of Rome

 

Frankfurt am Main, September 30 2025

 

@Adrian Petty/ECB

Inflation: Drivers and Dynamics 2025 Conference.

 

This annual conference, hosted by the European Central Bank and the Center for Inflation Research at the Federal Reserve Bank of Cleveland, brings together top researchers and policymakers from academia, central banks, and other policy institutions to present research findings related to inflation.

 

Session 3 – Firm Pricing Theories

 

Session chair: Ina Hajdini, Federal Reserve Bank of Cleveland

 

“Firm Wage Setting and the On-the-Job Search Limit Wage-Price Spirals”

 

* Jacob P. Weber, Federal Reserve Bank of New York

* Justin Bloesch, Department of Economics and ILR, Cornell University

* Seung Joo Lee, Saïd Business School, University of Oxford

  

Discussant: Renato Faccini, Danmarks Nationalbank

  

Frankfurt am Main, September 30 2025

 

@Adrian Petty/ECB

換個新頭給「自我膨脹」

Inflation: Drivers and Dynamics 2025 Conference.

 

This annual conference, hosted by the European Central Bank and the Center for Inflation Research at the Federal Reserve Bank of Cleveland, brings together top researchers and policymakers from academia, central banks, and other policy institutions to present research findings related to inflation.

 

“Keynote Speech: When do deficits fuel inflation?”

Gauti B. Eggertsson, Brown University

Introduction and chair: Chiara Osbat, European Central Bank

 

Frankfurt am Main, September 30 2025

 

@Maria Rita Quitadamo/ECB

Tire inflation devices

Inflation and lift-off for Dawn Patrol

6 October 2007

3 Sept 2025 - Brussels, Belgium - © Bernal Revert/ BR&U

Inflation of the Bees just before Takeoff

Inflation is lower in the trillion dollar deficit world than in the lower deficit world

Inflation: Drivers and Dynamics 2025 Conference.

 

This annual conference, hosted by the European Central Bank and the Center for Inflation Research at the Federal Reserve Bank of Cleveland, brings together top researchers and policymakers from academia, central banks, and other policy institutions to present research findings related to inflation.

 

Session 4 – Trade and Inflation

Session chair: Chiara Osbat, European Central Bank

 

“Trade Costs and Inflation Dynamics”

* Albert Queralto*, Federal Board of Governors of the Federal Reserve System

* Pablo Cuba-Borda, Federal Board of Governors of the Federal Reserve System

* Ricardo Reyes-Heroles, Federal Reserve Bank of Dallas

* Mikaël Scaramucci, University of California, Los Angeles

Discussant: Ine Van Robays, European Central Bank

 

Frankfurt am Main, September 30 2025

 

@Adrian Petty/ECB

3 Sept 2025 - Brussels, Belgium - © Bernal Revert/ BR&U

Policy Panel

* Beth M. Hammack, Federal Reserve Bank of Cleveland

* David E. J. Ramsden, Bank of England

* Philip R. Lane, European Central Bank

 

Moderator: Benoît Mojon, Bank for International Settlements

@Adrian Petty/ECB

3 Sept 2025 - Brussels, Belgium - © Bernal Revert/ BR&U

3 Sept 2025 - Brussels, Belgium - © Bernal Revert/ BR&U

These dollar bills changed to hundred dollar bills right in front of me. I even held one.

Session 1 – Pricing and Production Networks - Supply Chain Networks and the Macroeconomic Expectations of Firms

* Ina Hajdini*, Federal Reserve Bank of Cleveland

* Saten Kumar, Auckland University of Technology

* Samreen Malik, New York University Abu Dhabi

* Jordan Norris, New York University Abu Dhabi

* Mathieu Pedemonte, Federal Reserve Bank of Cleveland

Discussant: Tiziano Ropele, Banca d'Italia

@Adrian Petty/ECB

 

Sailor Mickey Mouse balloon

3 Sept 2025 - Brussels, Belgium - © Bernal Revert/ BR&U

Session 1 – Pricing and Production Networks - Supply Chain Networks and the Macroeconomic Expectations of Firms

* Ina Hajdini*, Federal Reserve Bank of Cleveland

* Saten Kumar, Auckland University of Technology

* Samreen Malik, New York University Abu Dhabi

* Jordan Norris, New York University Abu Dhabi

* Mathieu Pedemonte, Federal Reserve Bank of Cleveland

Discussant: Tiziano Ropele, Banca d'Italia

@Adrian Petty/ECB

 

Balloon Aloft launch site

Hot Air starting to raise the balloon. Waggon & Horses, Congleton, UK

Session 2 – Inflation Expectations

Session chair: Damjan Pfajfar, Federal Reserve Bank of Cleveland

 

The Macroeconomic Effects of Inflation Expectations: The Distribution Matters

* Guido Ascari*, Università degli Studi di Pavia, De Nederlandsche Bank and Centre for Economic Policy Research (CEPR)

* Paolo Bonomolo, De Nederlandsche Bank and European Central Bank

* Alessandro Celani, Örebro University

Discussant: Michael Ehrmann, Frankfurt School of Finance & Management

  

Information and Macroeconomic Expectations: Global Evidence

* Michael Weber*, Booth School of Business, University of Chicago and National Bureau of Economic Research (NBER)

* Francesco D'Acunto, McDonough School of Business, Georgetown University

Discussant: Fiorella De Fiore, Bank for International Settlements

 

@Adrian Petty/ECB

Policy Panel

* Beth M. Hammack, Federal Reserve Bank of Cleveland

* David E. J. Ramsden, Bank of England

* Philip R. Lane, European Central Bank

 

Moderator: Benoît Mojon, Bank for International Settlements

@Adrian Petty/ECB

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