Eleventh BIS Consultative Council of the Americas Research Conference "The Economics of the Covid-19 Pandemic"

Virtual Conference, 16-18 November 2021


Tuesday 16 November

Tuesday 16 November

09:00 – 09:05

Opening remarks by Alexandre Tombini, Chief Representative of the BIS for the Americas and Césaire Meh, Chair of the BIS CCA Scientific Committee

09:05 – 11:30

Session I: The pandemic's impact on banks, firms and growth
Chair: Césaire Meh (BIS CCA Scientific Committee and Bank of Canada)


"COVID-19 and Local Market Power in Credit Markets"
Thiago Christiano Silva, Sergio Rubens de Souza and Solange Maria Guerra (Central Bank of Brazil) Presentation
Discussant: Vasso Ioannidou (Bayes Business School, University of London) Presentation


"Anatomy of Firms' Margins of Adjustment: Evidence from the COVID Pandemic"
Elías Albagli, Andrés Fernández, Juan Guerra and Federico Huneeus (Central Bank of Chile) Presentation
Discussant: Ryan Banerjee (BIS) Presentation


"Nowcasting during the Pandemic: Lessons from Argentina"
Emilio Blanco, Fiorella Dogliolo and Lorena Garegnani (Central Bank of Argentina) Presentation
Discussant: Esther Ruiz-Ortega (Universidad Carlos III de Madrid) | Presentation

Wednesday 17 November

09:00 – 11:30

Session II: The pandemic's impact on labour markets
Chair: Ana Aguilar (BIS)


"COVID-19 and Implications for Automation"
Alex Chernoff and Casey Warman (Bank of Canada) Presentation
Discussant: Ayşegül Şahin (University of Texas at Austin) Presentation


"Is the pandemic Fast-Tracking Automation in Developing Countries? Preliminary Evidence from Colombia"
Leonardo Bonilla, Luz Flórez, Didier Hermida, Francisco Lasso, Leonardo Morales, Juan Ospina, and José Pulido (Central Bank of Colombia) Presentation
Discussant: Sylvain Leduc (FRBSF) Presentation


"Informal Labor Markets in Times of Pandemic: Evidence for Latin America and Policy Options"
Gustavo Leyva and Carlos Urrutia (Bank of Mexico) Presentation
Discussant: Alan Finkelstein (Tufts University) | Presentation

Thursday 18 November

09:00 – 10:30

Session III: The pandemic's lessons for monetary policy
Chair: Fabrizio Zampolli (BIS)


"The Limited Power of Monetary Policy in a Pandemic"
Antoine Lepetit and Cristina Fuentes-Albero (Board of Governors of the Federal Reserve System) Presentation
Discussant: Mathias Trabandt (Goethe University Frankfurt) Presentation

  "Unconventional Credit Policy in an Economy under Zero Lower Bound"
Jorge Pozo and Youel Rojas (Central Reserve Bank of Peru) Presentation
Discussant: Fiorella De Fiore (BIS) Presentation
10:30 – 11:30

Panel: Policy challenges after Covid: what can research tell us?
Chair: Alexandre Tombini (BIS)

Participants: Laura Alfaro (Harvard Business School) | Presentation, Paul Beaudry (Bank of Canada) | Presentation, Hyun Song Shin (BIS) | Presentation, and Hernando Vargas (Central Bank of Colombia) | Presentation.

N.B. Paper presentations: 20 minutes - Discussion: 15 minutes - Open discussion: 10 minutes. The presenters of the papers are underlined.