A recent tendency to blame globalisation, close borders, increase barriers for international commerce and factor movements produce many uncertainties and a need to adapt and adjust behaviour. Events such as an increased concentration on domestic matters and engagement in trade wars by the US, the British decision to leave the European Union and an increase in global political and economic power by China, among others, call for a deeper understanding of how firms adjust their behaviour within such an uncertain and evolving environment. By focusing on micro-level decisions as well as the major constraints and frictions, we hope to deepen our understanding and draw useful policy implications to adjust faster and more efficiently in the inherently frictional, quickly changing and uncertain world.
Adjustments in and to an Uncertain World
Virtual event hosted by the Bank of Lithuania
24 September, Thursday | |
EEST time:15:00–15:15 |
Opening and welcome remarks: |
EEST time:15:15–16:45 |
Session 1: Monetary Policy and Uncertainty The Elusive Gains from Nationally-Oriented Monetary Policy Interest Rate Uncertainty as a Policy Tool |
EEST time:16:50–17:50 |
Keynote lecture: the Role of Informational Frictions in Business Cycles |
EEST time: 18:00–19:30 |
Session 2: Trading Firms’ Behaviour in Uncertain Environment How Do Firms Adjust When Trade Stops? Relationship Stickiness and Economic Uncertainty |
EEST time: 19:35–20:35 |
Keynote lecture: Trade, Productivity, and (Mis)allocation |
25 September, Friday | |
EEST time: 15:00–16:30 |
Session 3: Uncertainty-Induced Trade Effects Taking Stock of Trade Policy Uncertainty: Evidence from China's Pre-WTO Accession Global Risk Sharing through Trade in Goods and Assets: Theory and Evidence
|
EEST time: 16:35-17:35 |
Keynote lecture: Unravelling Deep Integration: Local Labour Market Effects of the Brexit Vote |
EEST time: 17:45–19:15 |
Session 4: Macro Effects of Uncertainty Uncertainty-Induced Reallocations and Growth Convex Supply Curves |
EEST time: 19:15–19:20 |
Closing remarks |
General information
- Philippe Bacchetta (HEC Lausanne, Swiss Finance Institute and CEPR)
- Julian di Giovanni (Federal Reserve Bank of New York, CEBRA and CEPR)
- Andrei A. Levchenko (University of Michigan, CEBRA and CEPR)
- Paweł Kopiec (Narodowy Bank Polski)
- Krzysztof Makarski (Narodowy Bank Polski)
- Povilas Lastauskas (CEFER and Bank of Lithuania)
- Aurelija Proškutė (Bank of Lithuania)
- Povilas Lastauskas (CEFER and Bank of Lithuania)
- Aurelija Proškutė (Bank of Lithuania)
- Ingrida Petraitienė (Bank of Lithuania)
- Mariolina Ciccone (CEPR)