MIL Video Engine

Source: European Central Bank (video statements)

Closing remarks by Fiorella De Fiore, Agnese Leonello, Caterina Mendicino, Helene Rey, Carolina Villegas Sanchez on the second day of the 5th WE_ARE_IN Macroeconomics and Finance Conference 2025.

The Centre for Economic Policy Research (CEPR), the Bank for International Settlements (BIS) and the European Central Bank (ECB) organised their 2025 conference WE_ARE_IN Macroeconomics and Finance. The aim of the conference is to bring together women in economics to present and discuss new research on macroeconomics and finance which is of particular interest to central banks.

WE_ARE_IN stands for Women in Economics: Advancing Research in Economics Internationally. It complements the WE_ARE initiative, a CEPR seminar series in which junior women present their work and receive constructive feedback from their peers and from senior economists.

The conference took place on 20 and 21 October 2025 in Frankfurt am Main.

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnv2PtaYv_V20Ae4cN18GNQ

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251020_we_are_in.en.html

https://www.youtube.com/watch?v=NOOm3xW5WwQ

Source: European Central Bank (video statements)

Session 5 on the second day of the 5th WE_ARE_IN Macroeconomics and Finance Conference 2025.

Chair: Caterina Mendicino*, ECB

“The Systematic Origins of Monetary Policy Shocks”

Authors:
• Lukas Hack, ETH Zürich
• Klodiana Istrefi*, ECB and CEPR
• Matthias Meier, University of Mannheim

Discussant: Francesca Monti*, UCLouvain and CEPR

The Centre for Economic Policy Research (CEPR), the Bank for International Settlements (BIS) and the European Central Bank (ECB) organised their 2025 conference WE_ARE_IN Macroeconomics and Finance. The aim of the conference is to bring together women in economics to present and discuss new research on macroeconomics and finance which is of particular interest to central banks.

WE_ARE_IN stands for Women in Economics: Advancing Research in Economics Internationally. It complements the WE_ARE initiative, a CEPR seminar series in which junior women present their work and receive constructive feedback from their peers and from senior economists.

The conference took place on 20 and 21 October 2025 in Frankfurt am Main.

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnv2PtaYv_V20Ae4cN18GNQ

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251020_we_are_in.en.html

https://www.youtube.com/watch?v=G83ORS1frGw

Source: European Central Bank (video statements)

Session 5 on the second day of the 5th WE_ARE_IN Macroeconomics and Finance Conference 2025.

Chair: Caterina Mendicino*, ECB

“A Tale of Two Margins: Monetary Policy and Capital Misallocation”

Authors:
• Silvia Albrizio, IMF
• Beatriz Gonzalez*, Banco de España
• Dmitry Khametshin, Banco de España

Discussant: Daria Finocchiaro*, Sveriges Riksbank and CEPR

The Centre for Economic Policy Research (CEPR), the Bank for International Settlements (BIS) and the European Central Bank (ECB) organised their 2025 conference WE_ARE_IN Macroeconomics and Finance. The aim of the conference is to bring together women in economics to present and discuss new research on macroeconomics and finance which is of particular interest to central banks.

WE_ARE_IN stands for Women in Economics: Advancing Research in Economics Internationally. It complements the WE_ARE initiative, a CEPR seminar series in which junior women present their work and receive constructive feedback from their peers and from senior economists.

The conference took place on 20 and 21 October 2025 in Frankfurt am Main.

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnv2PtaYv_V20Ae4cN18GNQ

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251020_we_are_in.en.html

https://www.youtube.com/watch?v=yq4D1sbY3Uk

Source: European Central Bank (video statements)

Session 5 on the second day of the 5th WE_ARE_IN Macroeconomics and Finance Conference 2025.

Chair: Caterina Mendicino*, ECB

“Monetary Policy and Sovereign Risk in Emerging Economies”

Authors:
• Cristina Arellano, Federal Reserve Bank of Minneapolis
• Yan Bai*, University of Rochester and CEPR
• Gabriel Mihalache, Stony Brook University

Discussant: Ozge Akinci*, Federal Reserve Bank of New York and CEPR

The Centre for Economic Policy Research (CEPR), the Bank for International Settlements (BIS) and the European Central Bank (ECB) organised their 2025 conference WE_ARE_IN Macroeconomics and Finance. The aim of the conference is to bring together women in economics to present and discuss new research on macroeconomics and finance which is of particular interest to central banks.

WE_ARE_IN stands for Women in Economics: Advancing Research in Economics Internationally. It complements the WE_ARE initiative, a CEPR seminar series in which junior women present their work and receive constructive feedback from their peers and from senior economists.

The conference took place on 20 and 21 October 2025 in Frankfurt am Main.

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnv2PtaYv_V20Ae4cN18GNQ

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251020_we_are_in.en.html

https://www.youtube.com/watch?v=0JCFuEIGnyw

Source: European Central Bank (video statements)

Session 4 on the second day of the 5th WE_ARE_IN Macroeconomics and Finance Conference 2025.

Chair: Fiorella De Fiore*, BIS and CEPR

“HANKSSON”

Authors:
• Florin O. Bilbiie, University of Cambridge
• Sigurd Mølster Galaasen, Norges Bank
• Refet Gürkaynak, Bilkent University
• Mathis Mæhlum, Norges Bank
• Kristina Molnar*, Norwegian School of Economics

Discussant: Morgane Richard*, SciencesPo

The Centre for Economic Policy Research (CEPR), the Bank for International Settlements (BIS) and the European Central Bank (ECB) organised their 2025 conference WE_ARE_IN Macroeconomics and Finance. The aim of the conference is to bring together women in economics to present and discuss new research on macroeconomics and finance which is of particular interest to central banks.

WE_ARE_IN stands for Women in Economics: Advancing Research in Economics Internationally. It complements the WE_ARE initiative, a CEPR seminar series in which junior women present their work and receive constructive feedback from their peers and from senior economists.

The conference took place on 20 and 21 October 2025 in Frankfurt am Main.

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnv2PtaYv_V20Ae4cN18GNQ

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251020_we_are_in.en.html

https://www.youtube.com/watch?v=AjdoYd5dOek

Source: European Central Bank (video statements)

Session 4 on the second day of the 5th WE_ARE_IN Macroeconomics and Finance Conference 2025.

Chair: Fiorella De Fiore*, BIS and CEPR

“Fiscal Policy and Sectoral Reallocation According to HANK-SAM-IO”

Authors:
• Alexey Gorn, University of Liverpool
• Nicolò Rizzotti, University of Chicago
• Antonella Trigari*, Bocconi University and CEPR

Discussant: Anna Rogantini Picco*, ECB and CEPR

The Centre for Economic Policy Research (CEPR), the Bank for International Settlements (BIS) and the European Central Bank (ECB) organised their 2025 conference WE_ARE_IN Macroeconomics and Finance. The aim of the conference is to bring together women in economics to present and discuss new research on macroeconomics and finance which is of particular interest to central banks.

WE_ARE_IN stands for Women in Economics: Advancing Research in Economics Internationally. It complements the WE_ARE initiative, a CEPR seminar series in which junior women present their work and receive constructive feedback from their peers and from senior economists.

The conference took place on 20 and 21 October 2025 in Frankfurt am Main.

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnv2PtaYv_V20Ae4cN18GNQ

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251020_we_are_in.en.html

https://www.youtube.com/watch?v=jUoQ1tFXbBw

Source: European Central Bank (video statements)

Session 3 on the second day of the 5th WE_ARE_IN Macroeconomics and Finance Conference 2025.

Chair: Hélène Rey*, London Business School and CEPR

“Geopolitical Risk and Global Banking”

Authors:
• Friederike Niepmann, Board of Governors of the Federal Reserve System
• Leslie Shen*, Federal Reserve Bank of Boston

Discussant: Veronica De Falco*, Imperial College

The Centre for Economic Policy Research (CEPR), the Bank for International Settlements (BIS) and the European Central Bank (ECB) organised their 2025 conference WE_ARE_IN Macroeconomics and Finance. The aim of the conference is to bring together women in economics to present and discuss new research on macroeconomics and finance which is of particular interest to central banks.

WE_ARE_IN stands for Women in Economics: Advancing Research in Economics Internationally. It complements the WE_ARE initiative, a CEPR seminar series in which junior women present their work and receive constructive feedback from their peers and from senior economists.

The conference took place on 20 and 21 October 2025 in Frankfurt am Main.

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnv2PtaYv_V20Ae4cN18GNQ

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251020_we_are_in.en.html

https://www.youtube.com/watch?v=iQDKITbu3ug

Source: European Central Bank (video statements)

Session 3 on the second day of the 5th WE_ARE_IN Macroeconomics and Finance Conference 2025.

Chair: Hélène Rey*, London Business School and CEPR

“Trading Around Geopolitics”

Authors:
• Giancarlo Corsetti, European University Institute and CEPR
• Banu Demir, Oxford, Bilkent and CEPR
• Beata Javorcik*, European Bank for Reconstruction and Development, Oxford University and CEPR

Discussant: Feodora Teti*, ifo Institute, ECB and CEPR

The Centre for Economic Policy Research (CEPR), the Bank for International Settlements (BIS) and the European Central Bank (ECB) organised their 2025 conference WE_ARE_IN Macroeconomics and Finance. The aim of the conference is to bring together women in economics to present and discuss new research on macroeconomics and finance which is of particular interest to central banks.

WE_ARE_IN stands for Women in Economics: Advancing Research in Economics Internationally. It complements the WE_ARE initiative, a CEPR seminar series in which junior women present their work and receive constructive feedback from their peers and from senior economists.

The conference took place on 20 and 21 October 2025 in Frankfurt am Main.

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnv2PtaYv_V20Ae4cN18GNQ

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251020_we_are_in.en.html

https://www.youtube.com/watch?v=k4hDsYdT0tU

Source: European Central Bank (video statements)

Welcome remarks by Philip R. Lane, ECB and CEPR on the 2nd day of the 5th WE_ARE_IN Macroeconomics and Finance Conference 2025.

The Centre for Economic Policy Research (CEPR), the Bank for International Settlements (BIS) and the European Central Bank (ECB) organised their 2025 conference WE_ARE_IN Macroeconomics and Finance. The aim of the conference is to bring together women in economics to present and discuss new research on macroeconomics and finance which is of particular interest to central banks.

WE_ARE_IN stands for Women in Economics: Advancing Research in Economics Internationally. It complements the WE_ARE initiative, a CEPR seminar series in which junior women present their work and receive constructive feedback from their peers and from senior economists.

The conference took place on 20 and 21 October 2025 in Frankfurt am Main.

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnv2PtaYv_V20Ae4cN18GNQ

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251020_we_are_in.en.html

https://www.youtube.com/watch?v=cQqui4UjUzc