ECB President Christine Lagarde explains the Governing Council’s monetary policy decisions and answers questions from journalists at the Governing Council press conference held on 10 June 2021 at 14:30 CEST in Frankfurt am Main.

ECB President Christine Lagarde explains the Governing Council’s decisions and answers questions from journalists at the Strategy Review press conference held on 8 July 2021 at 14:30 CET in Frankfurt am Main.

ECB President Christine Lagarde explains the Governing Council’s monetary policy decisions and answers questions from journalists at the Governing Council press conference held on 09 September 2021 at 14:30 CEST in Frankfurt am Main.

By Esther Duflo, Massachusetts Institute of Technology

Chair: Isabel Schnabel, Member of the Executive Board, European Central Bank

Hawks, doves, owls, swans, bulls and bears … even ostriches. What connects these animals to central banking? How can they help us find our way around the world of economics and finance?
Our host Katie Ranger talks about these questions with communications advisor Gabriel Glöckler on The ECB Podcast.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Published on 16 August 2021 and recorded on 29 June 2021.

In this episode:
1:40 – Why animal metaphors are used in central banking
How animal metaphors can help make central banking more accessible, what they mean and why they are used so often.
4:01 Hawks, doves and owls in monetary policy
How these two animal metaphors are used to describe policymakers’ attitudes towards monetary policy,

The Financial Stability Review provides an overview of potential risks to financial stability in the euro area. It aims to promote awareness in the financial industry and among the public of euro area financial stability issues. It is published twice a year.

How can we foster the economic empowerment of women after the coronavirus crisis? And what role does transatlantic cooperation play in shaping a more inclusive recovery? Listen to ECB President Christine Lagarde, EU Commission President Ursula von der Leyen and US Secretary of the Treasury Janet Yellen talk about this and more in the latest episode of the ECB Podcast, hosted by Katie Ranger.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Published on 15 July 2021 and recorded on 12 July 2021.

In this episode:
01:25 – Economic empowerment of women
Why economic empowerment of women is vital, where we stand in Europe and the United States on economic empowerment and gender equality, and what needs to be done to foster economic

How is online user behaviour changing traditional banks?
Digitalisation in the banking sector has gained momentum since the coronavirus crisis started, and the pandemic has acted as a catalyst to speed up this process.
Banks are undergoing a digital transformation and we, as banking supervisors, make sure banks’ digital services are reliable and well governed.

Banks have weathered the first shock of the pandemic well, but what measures should they take once it is over?

In this seminar with civil society organisations, Director General Economics Frank Smets discusses the outcome of the ECB’s strategy review and why it matters for all European citizens.

What does financial stability have to do with cycling and zombies? How has the third wave of the pandemic affected the financial system? What risks lie ahead?

Our host Katie Ranger discusses these questions with our financial stability experts Tamarah Shakir and John Fell on The ECB Podcast.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Published on 16 June 2021 and recorded on 1 June 2021.

In this episode:

00:58 – How the financial system has fared during the third wave
How the financial stability bicycle is doing, how stabilisers have helped to preserve financial stability, what the risks are that lie ahead during the recovery.

06:30 – Economic divergence across sectors and countries
Why countries and sectors were affected

ECB President Christine Lagarde explains the Governing Council’s monetary policy decisions and answers questions from journalists at the Governing Council press conference held on 22 July 2021 at 14:30 CEST in Frankfurt am Main.

Real effects of climate policy: Financial constraints and spillovers

Sohnke Bartram*, University of Warwick and CEPR
Kewei Hou, Ohio State University
Sehoon Kim, University of Florida

Discussant: Steven Ongena, University of Zurich

On the effectiveness of climate policies

John Hassler, Institute for International Economic Studies, Stockholm University
Per Krussell, Institute for International Economic Studies, Stockholm University
Conny Olovsson*, Sveriges Riksbank
Michael Reiter, Institute for Advanced Studies (IHS), Vienna

Discussant: Emanuel Moench, Deutsche Bundesbank

Climate change and adaptation in global supply-chain networks

Nora Pankratz, Maastricht University
Christoph Schiller*, Arizona State University

Discussant: Michael Koetter, Halle Institute for Economic Research (IWH)

The macro effects of climate policy uncertainty
Stephie Fried, Arizona State University

Discussant: Lena Boneva, European Central Bank

Q&A based on chat questions

Q&A based on chat questions

Keynote speech: Large Bayesian VARs for forecasting: shrinkage priors, stochastic volatility and computation

Joshua Chan, Purdue University

Paper 3: Addressing COVID-19 outliers in BVARs with stochastic volatility

Elmar Mertens*, Deutsche Bundesbank
Andrea Carriero, Queen Mary University of London
Todd E. Clark, Federal Reserve Bank of Cleveland
Massimiliano Marcellino, Bocconi University

Discussant: Michele Lenza, European Central Bank

Paper 4: The time-varying evolution of inflation risks

Dimitris Korobilis*, University of Glasgow
Alberto Musso, European Central Bank
Bettina Landau, European Central Bank
Anthoulla Phella, European Central Bank

Discussant: Ana Galvão, Warwick Business School

Taste 6: High-frequency monitoring of growth-at-risk

Laurent Ferrara*, SKEMA Business School
Matteo Mogliani, Banque de France
Jean-Guillaume Sahuc, Banque de France

Taste 5: Understanding growth-at-risk: a Markov-switching approach

Francesca Loria*, Federal Reserve Board
Dario Caldara, Federal Reserve Board
Pablo Cuba-Borda, Federal Reserve Board
Danilo Cascaldi-Garcia, Federal Reserve Board

Taste 4: An interpretable machine learning workflow with an application to economic forecasting

Andreas Joseph*, Bank of England
Marcus Buckmann, Bank of England
Helena Robertson, Financial Conduct Authority

Taste 3: The macroeconomy as a random forest

Philippe Goulet Coulombe*, University of Pennsylvania

Paper 2: Tail forecasting with multivariate Bayesian additive regression trees

Florian Huber*, Universität Salzburg
Todd E. Clark, Federal Reserve Bank of Cleveland
Gary Koop, University of Strathclyde
Massimiliano Marcellino, Bocconi University
Michael Pfarrhofer, Universität Salzburg

Discussant: Herman van Dijk, Erasmus University Rotterdam

Taste 2: Variable selection and forecasting in high dimensional linear regressions with parameter instability
Mahrad Sharifvaghefi*, University of Pittsburgh
Alexander Chudik, Federal Reserve Bank of Dallas
Hashem Pesaran, University of Southern California

Taste 1: The kernel trick for nonlinear factor modeling

Varlam Kutateladze*, UC Riverside, Winner of the paper competition for PhD students

Welcome address

Philip R. Lane, European Central Bank

Paper 6: Robust forecasting

Frank Schorfheide*, University of Pennsylvania
Timothy Christensen, New York University
Hyungsik Roger Moon, University of Southern California

Discussant: Tatevik Sekhposyan, Texas A&M University