ESCB Challenges for Monetary Policy Transmission in a Changing World (ChAMP) Research Network
8th ChaMP Workstream 2 Workshop
Friday, 31 October 2025
Oesterreichische Nationalbank
 Vienna
Programme
- 08:30
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          Registration 
- 09:00
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          Session 1Chair: Philipp Hartmann (European Central Bank) 
- 09:00
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          Monetary policy in the Euro Area: When the Phillips curves... are curvesAlex Grimaud (Oesterreichische Nationalbank) 
 Discussant: Joris Tielens (Nationale Bank van België/Banque Nationale de Belgique)
- 09:40
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          Monetary Policy Transmission in the Euro Area: Is this Time Different? Chapter II: A Tale of Inflation, Expectations and ShocksAndrejs Zlobins (Bank of Latvia) 
 Discussant: Alexandre Carrier (European Central Bank)
- 10:20
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          Monetary Policy Under Multiple Financing ConstraintsAlejandro van der Ghote (European Central Bank) 
 Discussant: Alex Grimaud (Oesterreichische Nationalbank)
- 11:00
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          Coffee Break
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          Session 2Chair: Emmanuel Dhyne (Nationale Bank van België/Banque Nationale de Belgique) 
- 11:30
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          Economic structure and the real effects of monetary policyElisa Saporito (European Central Bank) 
 Discussant: Alessandro Cantelmo (Banca d'Italia)
- 12:10
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          Cross-country project on shock transmission in a currency unionChiara Osbat (European Central Bank) 
- 12:50
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          General communication on ChaMPEmmanuel Dhyne (Nationale Bank van België/Banque Nationale de Belgique) and Philipp Hartmann (European Central Bank) 
- 13:00
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          Lunch
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          Session 3Chair: Maria Valderrama (Oesterreichische Nationalbank) 
- 14:00
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          Micro and macro cost-price dynamics in normal times and during inflation surgesJoris Tielens (Nationale Bank van België/Banque Nationale de Belgique) 
 Discussant: Alari Paulus (Eesti Pank)
- 14:40
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          Consumer Price Stickiness in the Euro Area During an Inflation SurgeErwan Gautier (Banque de France) 
 Discussants: Emmanuel Dhyne (Nationale Bank van België/Banque Nationale de Belgique)
- 15:20
- 
          Coffee Break
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          Session 4Chair: Gonzalo Paz Pardo (European Central Bank) 
- 15:50
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          Robust monetary policy response to energy price shocksAlexandre Carrier (European Central Bank) 
 Discussant: Maria Valderrama (Oesterreichische Nationalbank)
- 16:30
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          How do monetary policy, monetary policy shocks, and financial frictions impact total factor productivity?Michael Sigmund (Oesterreichische Nationalbank) 
 Discussant: Olga Goldfayn-Frank (Bundesbank)
- 17:10
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          Closing Remarks
Venue: Oesterreichische Nationalbank, 
Otto Wagner Platz 3-9
Vienna
Austria
English
Participants are requested to arrange their own transfers, unless indicated otherwise.