In co-operation with the Center for International Macroeconomics at Northwestern University, the Central Bank of Iceland will convene the Reykjavík Economic Conference on 28-29 May 2026.
The Reykjavík Economic Conference brings together distinguished academics and policymakers to engage in discussions and the sharing of insights on macroeconomic analysis and policy challenges and the evolving role of central banks in today's landscape.
Participation will be by invitation only and conference proceedings will be partially under the Chatham House Rule.
The conference will take place at Harpa Concert and Conference Hall in Reykjavík.
Registration
*Required fields are marked with an asterisk.
Draft Programme
08:00-08:30 Registration and coffee
08:30-08:45 Opening speech
Governor Ásgeir Jónsson
08:45-09:10 Keynote address
Governor Sanjay Malhotra, Reserve Bank of India
09:10-09:55 Beyond the Taylor Rule
Paper by: E Nakamura, V Riblier, J Steinsson
Paper presenter: Emi Nakamura, UC Berkeley
Discussant: Ricardo Reis, London School of Economics
9:55-10:15 Coffee
10:15-11:00 Inflation Expectations and Wage Price Spirals
Paper by: P Beaudry, C Hou, F Portier
Paper presenter: Frank Portier, University College of London
Discussant: Jón Steinsson, UC Berkeley
11:00-12:05 Panel: Currencies: Buffers or amplifiers of shocks?
Chair: Claire Jones, Financial Times
Deputy Governor Thórarinn G. Pétursson, Central Bank of Iceland
Governor Martin Schlegel, Swiss National Bank
Governor Fatih Karahan, The Central Bank of the Republic of Türkiye
12:05-12:45 Lunch
12:45-13:10 Keynote address
President John C. Williams, Federal Reserve Bank of New York
13:10- 13:55 Do Deficits Cause Inflation? A High Frequency Narrative Approach
Paper by: J Hazell, S Hobler
Paper presenter: Jonathan Hazell, London School of Economics
Discussant: Gabriel Chodrow Reich, Harvard
13:55-14:20 Keynote address
President Alberto Musalem, Federal Reserve Bank of St. Louis
14:20-14:40 Coffee
14:40-15:25 Dollar Dominance and the Transmission of Monetary Policy
Paper by: M McLeay, S Tenereyro
Paper presenter: Michael McLeay, Bank of England
Discussant: Larry Christiano, Northwestern University
15:25-16:10 The Great Game: A Model of Geoeconomic Competition
Paper by: C Clayton, M Maggiori, J Schreger
Paper presenter: Christopher Clayton, Stanford University
Discussant: Jesus Villaverde, University of Pennsylvania
16:10-17:15 Panel: Voices of the market: The outlook and key risks
Chair: Jason Wu, assistant director overseeing the Global Markets Analysis division, IMF
Reinhard Cluse, Managing Director, Chief European Economist UBS
Beata Jvorick, Chief Economist, European Bank for Reconstruction and Development
Mahmood Pradhan, Non resident fellow at Bruegel and former Deputy Director, European Department IMF.
Hafsteinn Hauksson, Chief Economist, Kvika Bank
08:30-09:00 Coffee
09:00-09:20 Opening speech
Kristrún Frostadóttir Prime Minister of Iceland
09:20-09:45 Keynote address
Governor Andrew Bailey, Bank of England
09:45-10:30 The Optimal Macro Tariff
Paper by: O Itskhoki, D Mukhin
Paper presenter: Oleg Itskhoki, Harvard University
Discussant: Fabrizio Perri, Federal Reserve Bank of Minneapolis
10:30-10:50 Coffee
10:50-11:15 Keynote address
President Jeffrey Schmid, Federal Reserve Bank of Kansas City
11:15-12:20 Panel: Inflation – The last mile?
Chair: Alfred Kammer, Director of the European Department , International Monetary Fund
Governor Signe Krogstrup, Danmarks Nationalbank
Governor Ida Wolden Bache, Norges Bank
Governor Dimitar Radev, Bulgarian National Bank
12:20-13:00 Lunch
13:00-13:25 Keynote address
Vice Chair for Supervision Michelle Bowman, Federal Reserve Board
13:25- 14:30 Panel: Financial stability, The big leap or a bubble?
Chair: Francine Lacqua, Bloomberg
Deputy Governor Tómas Brynjólfsson, Central Bank of Iceland
Governor Madis Müller, Bank of Estonia
Deputy General Manager Andréa M. Maechler, BIS
14:30-15:15 The Race Between Asset Supply and Asset Demand
Paper by: A Auclert, H Malmberg, M Rognlie, L Straub
Paper presenter: Ludwig Straub, Harvard University
Discussant: Alan Auerbach, UC Berkeley