Joint Spring Conference on Monetary Policy and Expectations of Households and Firms Deutsche Bundesbank – Banque de France

Eltville am Rhein (hybrid event)

Understanding inflation expectations is a key prerequisite for informed monetary policy decision-making. The expectations of households, firms, financial markets and other economic agents about future price developments have become a prime source for supporting the analysis of financial stability, monetary policy transmission and the effects of central bank communication.

For the Joint Spring Conference of the Banque de France and the Deutsche Bundesbank, we will bring together researchers from academia, central banks and other policy institutions to present novel insights and research findings related to household expectations, their use in model-based analysis and methodological advances in eliciting expectations through surveys. 

The two-day conference will feature keynote speeches by Olivier Coibion from the University of Texas at Austin and Ulrike Malmendier from the University of California, Berkeley.

Banque de France Governor François Villeroy de Galhau and President of the Deutsche Bundesbank Joachim Nagel will each give a speech on the expectations of households and firms in a joint session.

The programme will feature several academic sessions, including a dedicated session with participants from the Banque de France, the Deutsche Bundesbank, the European Central Bank and the Federal Reserve Bank of New York presenting research employing their bank’s specific expectations surveys.

The topics covered at the conference include:

  • the interaction of expectations and monetary policy;
  • inflation and other economic expectations of households, firms and other economic agents;
  • households’ economic behaviour, including real estate, consumption, labour markets;
  • insights into the expectation formation process;
  • methodological advances in surveys on households’ and firms’ expectations;
  • empirical analyses and theoretical explorations based on survey data.