The Annual Conference of the Central Bank of Chile is one of the most important events organized by the Bank. It brings together experts, researchers and academics from central banks and monetary policy authorities of numerous countries, with the purpose of promoting and discussing the latest developments in economic research on macroeconomic and international economic issues.

Conferences



XXVII Annual Conference of the Central Bank of Chile

Medium and Long-Run Trends in Interest Rates: Causes and Implications for Monetary Policy

Sheraton Hotel, Santiago, Chile, on November 4-5, 2024.

This year's Conference will address issues related to interest rate trends both worldwide and in emerging economies. It will examine the causes behind these trends, as well as their implications for monetary policy. As always, the Conference will bring together leading economists specializing in the topic. The keynote speakers this year will be professors Ricardo Reis from the London School of Economics and Atif Mian from Princeton University.

Organizers
Sofia Bauducco, Mariana García-Schmidt, Atif Mian, Lucciano Villacorta.


Monday, November 4th

Opening Remarks

Rosanna Costa – Governor, Central Bank of Chile


Fiscal Policy and Real Interest Rates

Francesco Bianchi (Johns Hopkins University), Renato Faccini (National Bank of Denmark), Leonardo Melosi (University of Warwick)

Discussant: Juan Pablo Medina (Adolfo Ibáñez University)

Chair: Luis Felipe Céspedes, Board Member, Central Bank of Chile


Monetary Policy, Inflation, and Crises: Evidence from History and Administrative Data

Gabriel Jiménez (Bank of Spain), Dmitry Kuvshinov (Pompeu Fabra University), José-Luis Peydró (Imperial College London), Björn Richter (Pompeu Fabra University)

Discussant: Alejandro Vicondoa (Pontifical Catholic University of Chile)

Chair: Luis Felipe Céspedes, Board Member, Central Bank of Chile


From Trends in Interest Rates to Inflation and Back

Ricardo Reis (London School of Economics)

Chair: Gloria Peña, Director of Statistics and Data Division, Central Bank of Chile


The Financial (In)Stability Real Interest Rate, r**

Ozge Akinci (Federal Reserve Bank of New York), Gianluca Benigno (University of Lausanne), Marco Del Negro (Federal Reserve Bank of New York), Albert Queralto (Board of Governors of the Federal Reserve System)

Discussant: Alonso Villacorta (University of California, Santa Cruz)

Chair: Alberto Naudon, Board Member, Central Bank of Chile


Three Theories of Natural Rate Dynamics

Galo Nuño (Bank of Spain)

Discussant: Álvaro Aguirre (Central Bank of Chile)

Chair: Alberto Naudon, Board Member, Central Bank of Chile


The Impact of Climate Change and Geopolitical Tensions on Long-Term Interest Rates

Elías Albagli (Central Bank of Chile), Sofía Bauducco (Central Bank of Chile), Guillermo Carlomagno (Central Bank of Chile), Luis Gonzales (Central Bank of Chile), Juan Marcos Wlasiuk (Central Bank of Chile)

Discussant: Javier García-Cicco (San Andrés University)

Chair: Alberto Naudon, Board Member, Central Bank of Chile


Tuesday, November 5th

Long-run Interest Rates: Past, Present and Future

Atif Mian (Princeton University)

Chair: Claudio Soto, Board Member, Central Bank of Chile


U.S. Anti-Inflationary Policy and Emerging Economies: 1980s vs. 2020s

Drishan Banerjee (University of California, Santa Cruz), Galina Hale (University of California, Santa Cruz), Harrison Shieh (Vassar College)

Discussant: Kathryn Holston (Harvard University)

Chair: Rosario Celedón, Director of Financial Policy Division, Central Bank of Chile


Global and Local Risks in Foreign Currency Operations

Francisco Legaspe (San Andrés University), Liliana Varela (London School of Economics)

Discussant: Mauricio Calani (Central Bank of Chile)

Chair: Rosario Celedón, Director of Financial Policy Division, Central Bank of Chile


Perspectives for the Future Rate and its Importance for Emerging-Economies’ Monetary Policy

Chair: Sofía Bauducco, Economic Studies Manager, Central Bank of Chile

Elías Albagli, Director Monetary Policy Division, Central Bank of Chile

Boris Hofmann, Head of Monetary Policy, Monetary and Economic Department, Bank for International Settlements

Ricardo Reis, A. W. Phillips Professor of Economics, London School of Economics


 
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