Twelfth BIS Consultative Council for the Americas Research Conference on "Structural changes in inflation and output dynamics after Covid and other shocks"

Hosted by the BIS Representative Office for the Americas, Mexico City, 17-18 November 2022

Thursday 17 November 2022

09:20 – 09:30

Opening remarks
Alexandre Tombini, Chief Representative of the BIS Office for the Americas
Sofía Bauducco, Head of Economic Studies at Central Bank of Chile

 

Session I: Pandemic-related disruptions and labour markets
Chair: Jon Frost
 (BIS)

09:30 – 10:20

"Labour supply and demand shocks in Brazil during Covid-19 period"
Nelson da Silva (Central Bank of Brazil) and Sidney Caetano (UFJF)
Discussant: Jorge Pérez (Bank of Mexico)

10:30-11:20

"Remote work and high proximity employment in Mexico"
Lorenzo Aldeco Leo and Alejandrina Salcedo (Bank of Mexico)
Discussant: Laura Juárez (Colegio de México)

11:30-12:20

"Sectoral shocks, reallocation and labour market policies"
Joaquín García-Cabo, Anna Lipińska and Gastón Navarro (Board of Governors of the Federal Reserve System)
Discussant: Francesco Zanetti (Oxford)

 

Session II: Policy challenges from inflation and capital flows
Chair: Julián Caballero
 (BIS)

14:30–15:20

"Fiscal sources of inflation risk in EMDEs: the role of the external channel"
Ryan Banerjee, Aaron Mehrotra and Fabrizio Zampolli (BIS)
Discussant: Enrique Martínez García (Dallas Fed)

15:30–16:20

"Pandemic-induced increases in container freight rates: Assessing their domestic effects in a globalised world"
José Pulido (Central Bank of Colombia)
Discussant: Martín Tobal (Bank of Mexico)

16:30–17:20

"Non-bank financial intermediation and capital flows: evidence from EMEs"
Horacio Aguirre (Central Bank of Argentina) and Rodrigo Pérez Artica (UNS)
Discussant: Egon Zakrajšek (BIS)

Friday 18 November 2022

 

Session III: Inflation dynamics
Chair: Benoît Mojon (BIS)

09:00–09:50

"Dissecting consumer prices in Chile: from globalisation to global supply chain pressures"
Jennifer Peña (Central Bank of Chile) and Elvira Prades (Bank of Spain)
Discussant: Aaron Mehrotra (BIS)

10:00–10:50

"Domestic inflation dynamics in the face of changes in international commodity prices, inflation expectations, and the exchange rate"
Gerson Cornejo, David Florián and Alan Ledesma (Central Reserve Bank of Peru)
Discussant: Nelson Ramírez Rondán (CEMLA)

11:00–11:50

"Understanding post-Covid inflation dynamics"
Martín Harding (Bank of Canada), Jesper Lindé (IMF) and Mathias Trabandt (Goethe University Frankfurt)
Discussant: Fiorella De Fiore (BIS)

12:15 – 13:15

Keynote address: Cryptocurrencies, CBDCs and cross-border payments with implications for monetary policy
Speaker:
Tobias Adrian (IMF)

13:30 – 14:45

Panel: Future challenges for monetary policy
Chair: Agustín Carstens (BIS)
Participants: Irene Espinosa (Bank of Mexico), Alberto Naudon (Central Bank of Chile), Bibiana Taboada (Central Bank of Colombia) and Alejandro Werner (Georgetown University)

14:45-15:00

Closing remarks
Jon Frost, Head of Economics for the Americas at the BIS office for the Americas
Alexandre Tombini, Chief Representative of the BIS office for the Americas

N.B. Paper presentations: 25 minutes - Discussion: 15 minutes - Open discussion: 10 minutes. The presenters of the papers are in bold.