Reykjavík Economic Conference 2025

The Geography of Capital Allocation in the Euro Area

Roland Beck, Antonio Coppola, Stanford Graduate School of Business, Angus J. Lewis, and Matteo Maggiori, Martin Schmitz & Jesse Schreger

Discussant: Goetz von Peter, Bank for International Settlements

Why do Workers Dislike Inflation? Wage Erosion and Conflict Costs

Joao Guerreiro, Jonathon Hazell, Chen Lian, and Christina Patterson University of Chicago

Discussant: Jane Ryngaert, University of Notre Dame

Reconciling Macroeconomics and Finance for the U.S. Corporate Sector: 1929 – Present

Andrew Atkeson, UCLA, Jonathan Heathcote, and Fabrizio Perri

Discussant: Ellen McGrattan, University of Minnesota

Keynote address: From Magma to Masterpiece: Forging the Future of Cross-Border Payments

Deputy Governor Chiara Scotti, Central Bank of Italy

Panel 1: The Economic Consequences of Spending Beyond our Means - Debt and Deficit as a Risk Factor

Deputy Governor Signe Krogstrup, Danmarks Nationalbank

Governor Irena Radović, Central Bank of Montenegro

Gylfi Zoëga, Professor, University of Iceland

Deficits and Inflation: HANK meets FTPL

George-Marios Angeletos, Northwestern University, Chen Lian and Christian K. Wolf

Discussant: Marco Bassetto, Federal Reserve Bank of Minneapolis

Banks and the State-Dependent Effects of Monetary Policy

Martin Eichenbaum, Federico Puglisi, Sergio Rebelo, and Mathias Trabandt, Goethe University Frankfurt

Discussant: Itamar Drechsler, University of Pennsylvania

Charting the Uncharted: The (Un)Intended Consequences of Oil Sanctions and Dark shipping

Jesús Fernández-Villaverde, University of Pennsylvania, Yiliang Li, Le Xu and Francesco Zanetti

Discussant: A Craig Burnside, Duke University

Keynote address and Q&A: Monetary policy in uncertain times

Governor Andrew Bailey, Bank of England

Q&A moderated by Brynja Þorgeirsdóttir, University of Iceland

Estimating the Rise in Expected Inflation from Higher Energy Prices

Paula Patzelt and Ricardo Reis, London School of Economics

Discussant: Mark Watson, Princeton University

Keynote address and Q&A: Artificial intelligence and the labor market

Governor Michael S. Barr, Federal Reserve Board

Q&A moderated by Francine Lacqua, Bloomberg

Keynote address and Q&A: Assessing maximum employment

Governor Adriana Kugler, Federal Reserve Board

Q&A moderated by Francine Lacqua, Bloomberg

Panel 2: The Risk of Resurgence - Inflation Outlook in 2025 and Beyond

Pierre-Olivier Gourinchas, International Monetary Fund

Governor Lesetja Kganyago, South African Reserve Bank

Thórarinn G. Pétursson, Deputy Governor for Monetary Policy, Central Bank of Iceland

Eric Leeper, Professor, University of Virginia

Keynote address and Q&A: Uncertainty and Robust Monetary Policy

President John C. Williams, Federal Reserve Bank of New York

Q&A moderated by Francine Lacqua, Bloomberg

Keynote address: Evolution of China's Monetary Policy Framework

Deputy Governor Xuan Changneng, People‘s Bank of China

Panel 3: Out of the woods? Financial Stability and the Rate Cutting Cycle

Governor Gediminas Simkus, Bank of Lithuania

Governor Natia Turnava, National Bank of Georgia

Tómas Brynjólfsson, Deputy Governor for Financial Stability, Central Bank of Iceland

Keynote address and Q&A: When Mice can Roar: How to move fast without breaking things

Governor Ásgeir Jónsson, Central Bank of Iceland

Followed by fireside chat with Gauti Eggertsson, Brown University