Economic research

Macroeconomics and Monetary Policy – ​​Economic Research

Friday, March 25, 2022
Federal Reserve Bank of San Francisco
In line

Welcome remarks

Mary C. DalyPresident and CEO, Federal Reserve Bank of San Francisco


Session 1: Average Inflation Targeting: Time Inconsistency and Intentional Ambiguity


Chair: Andrew Foerster, Federal Reserve Bank of San Francisco

Authors: Chengcheng Jia, Federal Reserve Bank of Cleveland

Cynthia Wu, Notre Dame University

Speakers: Chen Lian, University of California at Berkeley

Luba Peterson, Simon Fraser University


Download the article (Wu) (pdf, 577 KB)


We would like to note, with sadness, the sudden passing of Jasmina Arifovic, who was to be one of the commentators for our first article. Our deepest condolences go out to his family, colleagues and friends. She will be greatly missed, but she left a legacy of excellence that will be remembered for a long time.


Keynote: A World of Differences: Households, the Pandemic and Monetary Policy


Introduction: Sylvain Leduc, Federal Reserve Bank of San Francisco

Speaker: Sharon KozickiDeputy Governor, Bank of Canada


Session 2: A quantitative approach to build portfolios for hedging climate risks


Chair: Fernanda Nechio, Federal Reserve Bank of San Francisco

Authors: Georgij Alekseev, NYU stern

Stefano Giglio, Yale University

Quinn Maingi, NYU stern

Julia Selgrad, NYU stern

Johannes Ströbel, NYU stern

Speakers: Michael Barnett, Arizona State University

Annette Vissing-Jorgensen, University of California at Berkeley


Download the article (Stroebel) (pdf, 698 kB)


Session 3: The Evolution of Income Risk in the Skill Distribution in the United States: Evidence from a Generalized Kalman Filter


Chair: Hui Yu Li, Federal Reserve Bank of San Francisco

Authors: J. Carter Braxton, University of Wisconsin

Kyle Herkenhof, Federal Reserve Bank of Minneapolis

Jonathan Rothbaum, United States Census Bureau

Lawrence Schmidt, MIT

Speakers: Gianluca Violante, princeton university

Elena Manresa, New York University


Download the article (Herkenhoff) (pdf, 1.05 mb)


Session 4: What can stock-outs tell us about inflation? Evidence of online microdata


Chair: Nicolas Petrosky-Nadeau, Federal Reserve Bank of San Francisco

Authors: Alberto Cavallo, Harvard Business School

Oleksiy Kryvtsov, Bank of Canada

Speakers: Marie Amiti, Federal Reserve Bank of New York

Virgil Midrigan, New York University


Download the article (Kryvstov) (pdf, 1.13 mb)


Speakers of scheduled sessions in bold.