56th Konstanz Seminar

The 56^th Konstanz Seminar takes from 3^rd to 5^th of June 2025. The Konstanz Seminar provides an independent platform for intense discussion of recent developments in monetary theory and policy. This year’s conference is organized jointly by Verein Konstanzer Seminar e.V. and the Cluster of Excellence ECONtribute at the Universities of Bonn and Cologne.

For details on the conference see the website. Participation is by invitation only.

Presenters and discussants:

Tetsvelina Nenova, Bank for International Settlements: The Ins and Outs of Chinese Monetary Policy Transmission (with Silvia Miranda-Agrippino, Hélène Rey, and Yandong Jia)

• Discussant: Donghai Zhang, National University of Singapore

Klodiana Istrefi, Banque de France: The Systematic Origins of Monetary Policy Shocks (with Lukas Hack and Matthias Meier)

• Discussant: Federico Mandelman, Federal Reserve Bank of Atlanta

Leonardo Melosi, University of Warwick: The Taming of the Skew: Asymmetric Inflation Risk and Monetary Policy (with Andrea De Polis and Ivan Petrella)

• Discussant: Anastasiia Antonova, Aix-Marseille School of Economics

Johannes Wieland, UCSD and Federal Reserve Bank of San Francisco: Why Are Some Recoveries Weak and Others Strong? (with Paula Donaldson)

• Discussant: Gabriel Züllig, Swiss National Bank

Jesus Fernandez-Villaverde, University of Pennsylvania: Are We Fragmented Yet? Measuring Geopolitical Fragmentation and Its Causal Effects (with Tomohide Mineyama and Dongho Song)

• Discussant: Gernot Müller, University of Tübingen

Luis Garicano, London School of Economics and Klaus Masuch, European Central Bank: The Euro: Foundations, Crises, Incentives, and Reforms (with John H. Cochrane)

Gaetano Gaballo, HEC Paris: Asset Purchases in Noisy Financial Markets with Fiscal-Monetary Interactions (with Carlo Galli)

• Discussant: Vladimir Asriyan, CREi

Felix Ward, Erasmus University Rotterdam: Bank Leverage and the Tax Advantage of Debt (with Casper de Vries and Jose Castillo)

• Discussant: Kartik Anand, Bundesbank

Florin Bilbiie, University of Cambridge: HANKSSON (with Sigurd Mølster Galaasen, Refet S. Gürkaynak, Mathis Mæhlum, and Krisztina Molnar)

• Discussant: Jeanne Commault, Science Po

Gizem Koşar, Federal Reserve Bank of New York: Subjective Uncertainty and the Marginal Propensity to Consume (with Davide Melcangi)

• Discussant: Marta Cota, Nova School of Business & Economics