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(September 16-17) PSE Macro Days 2021

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PSE - Paris School of Economics is pleased to invite you on September 16-17 to the 2021 edition of the Annual Conference of the “International Macroeconomics”, Banque de France - PSE and “Macroeconomic Risk”, SCOR - PSE Chairs.

PSE Macro Days 2021

Date: September 16-17, 2021
Venue: PSE - Paris School of Economics
48 boulevard Jourdan, 75014 Paris
Room: R2-21 (Floor 2)

The conference will be held at PSE - Paris School of Economics and will also be broadcast online:

  • On Webex, on September 16.
  • On Zoom, on September 17.
  • On YouTube, on September 16 and 17.

Registration: To attend the conference (in person or online), please register via this link.


Thursday September 16th

Session I: Annual Conference of the “International Macroeconomics” Chair, Banque de France - PSE

10:00 Registration and coffee

10:15-10:30 Welcome address

10:30-11:30 Aggregate-Demand Amplification of Supply Disruptions: The Entry-Exit Multiplier
Florin Bilbiie* (University of Lausanne), Marc Melitz (Harvard University)
Discussant: Basile Grassi (Bocconi)

11:30-12:30 The Transmission of Keynesian Supply Shocks
Ambrogio Cesa-Bianchi* (Bank of England), Andrea Ferrero (University of Oxford)
Discussant: Anna Rogentini Picco (Sveriges Riksbank)

12:30-14:00 Lunch break

14:00-15:00 COVID-19 and SME Failures
Pierre-Olivier Gourinchas (UC Berkeley), Sebnem Kalemli-Ozcan* (University of Maryland), Veronika Penciakova (FRB Atlanta), Nick Sander (Bank of Canada)
Discussant: Juan Carluccio (Banque de France)

15:00-16:00 Corporate Debt Maturity Matters for Monetary Policy
Joachim Jungherr* (University of Bonn), Matthias Meier (University of Mannheim), Timo Reinelt (University of Mannheim), Immo Schott (University of Montreal)
Discussant: Aurélien Eyquem (Université Lumière Lyon 2)

16:00-16:30 Coffee break

16:30-17:30 Keynote Lecture (Online)
Olivier Blanchard* (Peterson Institute)

17:30-18:30 Policy panel
Agnès Bénassy-Quéré (PSE, French Treasury), Olivier Garnier (Banque de France), Sebnem Kalemli-Ozcan (University of Maryland), Ricardo Reis (LSE)

Friday September 17th

Session II: Annual Conference of the “Macroeconomic Risk” Chair, SCOR - PSE

09:00 Welcome coffee

09.15-09:30 Welcome address

09:30-10:30 A Model of Post-2008 Monetary Policy
Behzad Diba (Georgetown University), Olivier Loisel* (CREST, ENSAE)
Discussant: Julien Matheron (Banque de France)

10:30-11:30 A Model of Credit, Money, Interest, and Prices
Saki Bigio* (UCLA and NBER), Yuliy Sannikov (Stanford Business School and NBER)
Discussant: TBA

11:30-11:45 Coffee break

11:45-12:45 Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium
Vladimir Asriyan (CREi, UPF and Barcelona GSE), Luc Laeven (ECB), Alberto Martin* (CREi, UPF and Barcelona GSE), Alejandro Van der Ghote (ECB), Victoria Vanasco (CREi, UPF and Barcelona GSE)
Discussant: Carolina Villegas Sanchez (ESADE)

12:45-14:00 Lunch break

14:00-15:00 The Effect of Macroeconomic Uncertainty on Household Spending
Olivier Coibion* (University of Texas at Austin), Dimitris Georgarakos (ECB), Yuriy Gorodnichenko (UC Berkeley), Geoff Kenny (ECB), Michal Weber (University of Chicago)
Discussant: Luigi Paciello (HEC Paris)

15:00-16:00 Zero Lower Bound on Inflation Expectations
Yuriy Gorodnichenko (UC Berkeley), Dmitriy Sergeyev* (Bocconi University)
Discussant: Philippe Andrade (Boston FED)

16:00-16:30 Coffee break

16:30-17:30 Keynote Lecture
Ricardo Reis* (London School of Economics)


Olivier de Bandt (Banque de France, “International Macroeconomics” Chair, Banque de France - PSE)
Tobias Broer (“International Macroeconomics” Chair, Banque de France - PSE)
Francesco Pappadà (“International Macroeconomics” Chair, Banque de France - PSE)
Axelle Ferriere (“Macroeconomic Risk” Chair, SCOR - PSE)
Gilles Saint-Paul (“Macroeconomic Risk” Chair, SCOR - PSE)