Session 1
Chair: Oreste Tristani, European Central Bank
The systematic origins of monetary policy shocks
Lukas Hack, ETH Zurich
Klodiana Istrefi, European Central Bank
Matthias Meier*, University of Mannheim
Discussant: Daniel Lewis, University College London
How oil shocks propagate: Evidence on the monetary policy channel
Wataru Miyamoto, University of Hong Kong
Thuy Lan Nguyen*, Federal Reserve Bank of San Francisco and Santa Clara University
Dmitriy Sergeyev, Bocconi University
Discussant: Davide Debortoli, Pompeu Fabra University
Catherine’s favorite falafel wrap went from €5 to €7 – and it sent her down a rabbit hole.
Join our host as she explores a simple question: why do prices seem to be going up all the time? Along the way, you’ll uncover what’s behind the cost-of-living squeeze, why it hits people differently and what the ECB is doing about it.
The views expressed of the speakers and not necessarily those of the European Central Bank.
Further reading:
Espresso Economics – Inflation stats vs your reality: the disconnect explained https://www.youtube.com/watch?v=mi-gZoA9WGk
Euro Area Business Cycle Network, European Central Bank and Federal Reserve Board.
This is the 14th edition of the biennial conference series organised by the Euro Area Business Cycle Network, the ECB, and the Federal Reserve Board. The conference promotes the discussion of innovative research on theoretical and empirical macroeconomic issues with relevance for monetary policy.
Euro Area Business Cycle Network, European Central Bank and Federal Reserve Board.
This is the 14th edition of the biennial conference series organised by the Euro Area Business Cycle Network, the ECB, and the Federal Reserve Board. The conference promotes the discussion of innovative research on theoretical and empirical macroeconomic issues with relevance for monetary policy.
Together we can shape a better future where everyone receives fair and equal treatment.
At the ECB we are raising the pride flag to stand with the LGBT+ community and reaffirm our commitment to diversity and inclusion in Europe and across the world.
Supervision will not pivot away from resilience, says Frank Elderson, Vice-Chair of the ECB Supervisory Board, stressing that the banking union is key to competitiveness. He clarifies that ECB guidance is not law and explains the risks behind Anthropic’s Mythos.
Read the full interview here:
https://www.bankingsupervision.europa.eu/press/interviews/date/2026/html/ssm.in260513~cb8e1269c5.en.html
Did prices rise when Bulgaria adopted the euro? Or were fears of inflation misplaced? The numbers tell a clear story.
Christine Gartner and Ginevra Aguiari talk about what really happened to prices and inflation in Bulgaria and explain how perceptions and expectations have changed.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Further reading
The ECB Blog – Euro adoption and price increases in Bulgaria: separating myths from facts
https://www.ecb.europa.eu/press/blog/date/2026/html/ecb.blog20260409~cc951a0d29.en.html
Keynote speech by Maria Luís Albuquerque, European Commissioner for Financial Services and the Savings and Investments Union, at the joint conference of the European Commission and the European Central Bank “European Financial Integration 2026”.
The conference took place on 7 May 2026.
See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/260507-european-financial-integration.en.html
Watch all sessions from the conference:
https://www.youtube.com/watch?v=P1Y49BF8mTQ&list=PLnVAEZuF9FZlLRLPr0lrYXqh4DcZfWRBT