Monetary policy is well equipped to address demand shocks. For many structural or supply side shocks the traditional answer was to look through and not allow second round effects to emerge. Is that the right answer when structural shifts, such as climate change or economic fragmentation, are expected to affect inflation over long horizons?

Meet our speaker and chair:

Andréa M Maechler is Deputy General Manager of the Bank for International Settlements. Previously, she was a member of the Governing Board of the Swiss National Bank (SNB) where she was responsible for the Money Market and Foreign Exchange, Asset Management, Banking Operations and Information Technology portfolios. Ms Maechler has also held positions at the International Monetary Fund and at several international institutions.

Ricardo Reis is the A.W. Phillips Professor of Economics at LSE. Recent honors include the 2022 Carl Menger prize, the 2021 Yrjo Jahnsson medal, election for the Econometric Society in 2019, the 2017 BdF/TSE junior prize, and the 2016 Bernacer prize. He is an academic consultant at the Bank of England, the Riksbank, and the Federal Reserve Bank of Richmond, directs the Centre for Macroeconomics, and serves on the council or as an advisor of multiple organizations.

Monetary policy in an era of more challenging supply conditions - do the old principles still stand?

Centre For Macroeconomics