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DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Programme Thursday 17 December 08:50 Opening and Welcome 09:00 Session 1 – How Important is Central Bank Independence? =0D=0A The Macroeconomic Consequences of Undermining Central Bank Independence Rui Mano (IMF)=0D=0A Lack of Trust and Fiscal Dominance: Evidence from a Survey Firm Experiment Renato Faccini (National Bank of Denmark)=0D=0A Beyond Technocracy: Toward a Holistic Approach to Central Bank Trust Sandra Eickmeier (CAMA, Deutsche Bundesbank)=0D=0A 10:30 Coffee Break 11:00 Session 2 - Monetary Policy and Consumption Upside Down =0D=0A Consumption Inequality, Household Risk, and the Business Cycle Francesco Furlanetto (Norges Bank)=0D=0A Saving by Consuming: The Intertemporal Behavior of Hand-to-Mouth Households Esteban Verdugo (University of Michigan)=0D=0A 12:00 Lunch 13:30 Session 3 – Monetary Policy Meets Geopolitics =0D=0A A Geopolitical Shock to Bank Assets and Monetary Policy Transmission Björn Imbierowicz (Deutsche Bundesbank)=0D=0A Look-Through or Look Closer? Energy Shocks and Underlying Inflation in the Euro Area Rosi Chankova (Bank of England)=0D=0A How Partisanship Shapes Economic Expectations: Evidence from the 2025 U.S. Tariff Announcement Yoon Jo (Texas A&M University)=0D=0A 15:00 Coffee Break 15:30 KEYNOTE SPEECH Yuriy Gorodnichenko (UC Berkeley)=0D=0A Friday 18 December 09:00 Outdoor activities 11:30 Lunch 13:00 Session 4 - Expectations and Choice under Subjective Models of the Macroeconomy =0D=0A The impact of interest: Firms' investment sensitivity to interest rates Benjamin Born (University of Bonn)=0D=0A Teach, don't give? Mental models, understanding and communication Michael McMahon (University of Oxford)=0D=0A Heterogeneity in Consumers' Economics Expectations across Euro Area Countries Maritta Paloviita (Bank of Finland)=0D=0A 14:30 Coffee Break 15:00 FIRESIDE CHAT Tuomas Välimäki (Bank of Finland) Jim Bullard (Federal Reserve Bank of St. Louis) Linda Tesar (University of Michigan)=0D=0A Programme in PDF-format =0D=0A  =0D=0A Organising Committee: =0D=0A Francesco D’Acunto (Georgetown University and CEPR) Juha Kilponen (Bank of Finland) Esa Jokivuolle (Bank of Finland) Nigel McClung (Bank of Finland) Michael Weber ( Purdue University and CEPR)=0D=0A  =0D=0A
DTEND:20261218T143000Z
DTSTAMP:20260205T112418Z
DTSTART:20261217T063000Z
LOCATION:Saariselkä, Finland
SUMMARY:Bank of Finland and CEPR Joint Conference on Navigating Monetary Policy by the Northern Lights
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