In March 2020, central banks have once again proven to be the first line of defense in crisis-ridden times. With their far reaching actions they prevented the world from experiencing a collapse of financial markets on top of the severe health and economic crisis caused by Covid-19. Since the global financial crisis, central banks’ roles and repertoire have vastly changed.
The Federal Reserve has recently adopted a new strategy of average inflation targeting for its monetary policy and the European Central Bank is currently conducting the first strategy review in 17 years – President Lagarde has made it very clear that the ECB intends to address this new role.
We believe that this calls for a wider debate on the role of central banks in times of financial instability, growing inequality and an escalating climate crisis. Central banks have powerful tools at their disposal. Should they – and if so, how – support policy goals beyond their traditional price stability mandate? The conference “Next Generation Central Banking: Climate change, inequality, financial instability” on 3-5. February 2021 will provide a forum on these timely questions.
Ahead of our conference, we have published reports on specific aspects of central bank reform and their potential transformative role.
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Central European Time
Wednesday 03. February 2021
| 16:45 – 18:00 |
A global perspective on next generation central banking Fireside Chat with Uli Volz (SOAS) + Shamshad Akhtar (Former Governor State Bank of Pakistan) + Fernanda Nechio (Deputy Governor Banco Central do Brasil) |
| 18:30 – 20:00 |
Die Rolle der Zentralbanken in der sozial-ökologischen Transformation (The Role of Central Banks in the social-ecological Transformation?) Panel Debate (German with English translation) with Claudia Buch (Vice President Bundesbank) + Gerhard Schick (Finanzwende) + Adam Tooze (Columbia University) + Daniel Stelter (beyond the obvious) |
Thursday 04. February 2021
| 15:00 – 15:15 |
Welcoming Barbara Unmüßig, Gerhard Schick |
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| 15:15 – 16:30 |
How the Coronavirus almost brought down the global financial system Panel Debate with Adam Tooze (Columbia University) + Annette Vissing-Jørgensen (University of California, Berkeley) + Sven Giegold (Member of European Parliament) + Martin Hellwig (Max Planck Institute for Research on Collective Goods) |
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| 16:30 – 17:30 |
European Civil Society and Central Banking Workshop with Alessia del Vasto (Positive Money EU), Rachel Oliver (Head of Campaigns at Positive Money UK) |
The Collateral supply effect on Central Bank Policy Workshop with Carolyn Sissoko (UWE Bristol), Steffen Murau (Boston University) and Michael Peters (Finanzwende) |
Central Bank Digital Currency – Possibilities for a digital Euro? Workshop with Saule Omarova (Cornell University), Stan Jourdan (Positive Money EU), Miguel Ángel Fernández Ordóñez (former Governor Bank of Spain), Martin Arnold (Financial Times) |
| 17:30 – 18:00 |
Coffee Break |
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| 18:00 – 18:15 |
Keynote Monetary Policy and Inequality Vitor Constancio (former ECB Vice President) |
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| 18:15 – 18:30 |
Tempering inequality – What central banks can and cannot do Pierre Monnin (Council on Economic Policies) |
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| 18:30 – 19:30 |
Monetary Policy and Inequality Discussion with Pierre Monnin (Council on Economic Policies) + Vitor Constancio (former ECB Vice President) |
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Friday 05. February 2021
| 14:00 – 14:30 |
Central Banking beyond Inflation Speed Debate with Benjamin Braun (Max Planck Institute for the Study of Societies) + Michal Horváth (Chief Economist, Slovakian National Bank) |
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| 14:30 – 15:00 |
Democratising the ECB Speed Debate with Jens van ’t Klooster (KU Leuven) + Luis Garicano (Member of European Parliament) |
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| 15:00 – 15:15 |
Monetary Populism in Hungary Júlia Király (IBS Budapest, Former Deputy Governor Central Bank of Hungary) |
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| 15:15 – 15:30 |
Coffee Break
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| 15:30 – 16:30 |
How Central Banks could tackle climate change? Workshop with Jézabel Couppey-Soubeyran (Université Paris 1), Maria Nikolaidi (University of Greenwich), Rens van Tilburg (Sustainable Finance Lab, NL) and Wojtek Kalinowski (Veblen Institute) |
Should Central Banks save the world? The role of Fiscal Policy Workshop with Benoît Lallemand (Finance Watch), Frances Coppola (Financial Writer), Joshua Ryan-Collins (University College London IIPP), Philippa Sigl-Glöckner (Dezernat Zukunft) |
Central Bank Independence and Accountability Workshop with Elsa Massoc (Uni Frankfurt), Joscha Wullweber (Uni Witten-Herdecke), Leah Downey (Harvard University), Leo Hoffmann-Axthelm (Transparency International) |
| 16:30 – 16:45 |
Coffee Break |
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| 16:45 – 17:00 |
Central Banking and Climate change Sylvie Goulard (Second Deputy Governor of Banque de France) |
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| 17:00 – 18:15 |
A new era of monetary financing? Panel debate with Daniela Gabor (UWE Bristol) + Sabine Lautenschläger (former ECB executive board member) + Sylvie Goulard (Second Deputy Governor of Banque de France) + Frank van Lerven (New Economics Foundation) |
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The conference is organized by:
The conference is supported by:
