ECB Conference on Monetary Policy 2025 – Speakers

Programme of the ECB Conference on Monetary Policy 2025: bridging science and practice

He also chairs the task-force on banking analysis for monetary policy of the Monetary Policy Committee of the European System of Central Banks. He is a Research Fellow at the Centre for Economic Policy Research (CEPR).

Before joining the ECB, he taught economic policy and econometrics at the University of Naples and served as a visiting professor and scholar at University College London, Columbia University, and Université libre de Bruxelles. In his current position, he oversees the assessment of liquidity and funding conditions for banks and non-banks in the euro area, analyzes macro-financial linkages, and the calibration of both standard and non-standard monetary measures involving financial intermediaries.

His research interests include monetary economics, fiscal-monetary policy interactions, macro-finance, and input-output networks.

He holds a PhD in Economics from Washington University in St. Louis. During his PhD, he conducted internships at the Federal Reserve Bank of Boston and the Bank of England.

He has also served as chief economist of the International Monetary Fund (IMF).

Blanchard has worked on a wide set of macroeconomic issues, including the role of monetary and fiscal policy, speculative bubbles, determinants of unemployment, economic transition in former communist countries, and the Global Financial Crisis.

Blanchard is the author of many books and articles, including two textbooks on macroeconomics, one at the graduate level with Stanley Fischer and the other at the undergraduate level. He is a past editor of the Quarterly Journal of Economics and the NBER Macroeconomics Annual and founding editor of American Economic Journal: Macroeconomics. He is a past president of the American Economic Association.

She is the coordinator of the Centre for Applied Macro-Finance (CAMF) and serves on the executive committee of the Money, Macro and Finance (MMF) Society.

Her primary research field is applied macro-finance, with a particular focus on econometrics and empirical finance. She investigates the yield curve of government bonds and its relationship with macroeconomic fundamentals, aiming to deepen understanding of how financial markets reflect and transmit economic conditions.

She also works on forecast evaluation, monetary policy, and financial econometrics. Her research includes the development of models that combine real-time macroeconomic data, financial indicators, and survey expectations to enhance forecasting accuracy. A key contribution is the design of reliable forecast evaluation tests that improve the comparison of predictive accuracy between competing forecasts—particularly in the small samples typical in macroeconomics.

He is currently a faculty member at Bocconi University, a CEPR Research Fellow, and an NBER Research Associate. His work has been published in top-tier journals including The American Economic Review, The Journal of Political Economy, and The Journal of Finance.

He teaches at institutions such as Wharton, NYU Stern, ISB, and UNC, and serves on the editorial boards of Economics Letters and The American Economic Review. Prof. Croce is co-leading the Green Tech initiative in Bocconi.

In July 2026 he will join the University of Chicago, first as a Saieh Family Fellow at the Becker Friedman Institute for Economics and then, in July 2027, as an Assistant Professor of Economics and Finance at the University of Chicago Booth School of Business.

His research focuses on finance, macroeconomics, and spatial economics. In 2021-2022, he worked as a junior economist in the staff of the Prime Minister of Italy, Mario Draghi. Prior to Harvard, he received a MSc and a BSc degree in Economics from Bocconi University.

She holds a PhD in economics from Boston College, an MA and BA in economics from the University of Bern, and an MA in art history from the University of Bern. Her work focuses on macroeconomic theory and monetary economics, with a special interest in the role of expectations formation and information frictions for business cycles.

His research interests are financial economics and macroeconomics. His work studies how firms make investment decisions and how these decisions respond to changes in interest rates and asset prices, how economic shocks influence asset prices, and how agents form perceptions of asset markets.

His work has received prizes such as the Fama-DFA Prize, the Leo Melamed Prize for Outstanding Research in Finance at Chicago Booth, and the AQR Top Finance Graduate Award. Gormsen earned a PhD in financial economics from Copenhagen Business School.

Previously, he was the Academic Director of the Financial Risk Management Program at Goethe Business School and Assistant Professor at the Department of Finance at Copenhagen Business School.

He received his PhD from Goethe University Frankfurt and has been visiting professor at the University of Strasbourg and visiting scholar at NYU – Stern School of Business. He specializes in financial intermediation, monetary policy transmission, corporate finance, and empirical finance in general.

His division is responsible for providing analysis to inform the ECB’s monetary policy decisions and preparing associated external communication, assessing the ECB’s monetary policy strategy in light of conjunctural and structural developments, and advising on the design and use of the ECB’s operational framework and its balance sheet from a monetary policy perspective. Between 2017 and 2023, he was Head of the Market-Based Finance Division in the Directorate General Macroprudential Policy and Financial Stability, where he was responsible for risk assessment and policy work related to non-bank financial intermediaries and financial markets, assessing interactions between market-based finance and monetary policy, and climate policy issues related to non-bank financial intermediaries and green finance.

Prior to joining the ECB in 2017, Sujit spent twelve years at the Bank of England (BoE). As Head of Research from 2014 onwards, he developed and delivered the BoE’s new research agenda and was the founding editor of the BoE’s staff blog, Bank Underground. In previous roles, he led on developing the macroprudential policy framework for the BoE’s Financial Policy Committee, made significant contributions to the international debate on reforming banking regulation after the global financial crisis, played a key role in developing the BoE’s stress testing models, and was briefly seconded to the Reserve Bank of India. Sujit holds a PhD in economics from the University of Oxford and has published extensive research on macroprudential policy, monetary policy, market-based finance, banking regulation, climate change, text mining, stress testing, financial crises, financial networks and contagion.

During 2008-2012, he was on the faculty of the Yonsei University business school, South Korea, and he also spent a year visiting the Bank for International Settlements during 2006-2007. His main research interests are in fixed income markets, asset pricing, and monetary policy.

Before joining the ECB, he was the Governor of the Central Bank of Ireland. He has also chaired the Advisory Scientific Committee and Advisory Technical Committee of the European Systemic Risk Board and was Whately Professor of Political Economy at Trinity College Dublin. He is also a research fellow at the Centre for Economic Policy Research.

A graduate of Trinity College Dublin, he was awarded a PhD in Economics from Harvard University in 1995 and was Assistant Professor of Economics and International Affairs at Columbia University from 1995 to 1997, before returning to Dublin. In 2001 he was the inaugural recipient of the Bernácer Prize for outstanding contributions to European monetary economics.

He joined the ECB in 2007 and has contributed to preparing, presenting and analysing the ECB’s standard and non-standard monetary policy measures, especially regarding their transmission through financial markets. Prior to that, he has been an Economist in the Economics department of the Deutsche Bundesbank. Wolfgang holds a doctorate degree in economics and has published academic articles in the fields of financial markets, monetary policy and applied econometrics.

He is a Research Associate at the National Bureau for Economic Research and a consultant for the Federal Reserve Bank of Chicago. His fields of research are macroeconomics and international finance. He is a co-editor of the Journal of Political Economy.

Prior to this, she was a Research and Teaching Associate at the Vienna University of Economics and Business (WU), where she also completed her PhD and successfully defended her dissertation in mid-September this year.

During her doctoral studies, Anna completed a research visit at the University of California, Berkeley, and gained practical experience working at the Directorate General Research of the ECB.

Her research focuses on macroeconomic policy in the European Union, with particular interest in environmental and monetary policy. She investigates how firms and households respond differently to such policies by combining macroeconomic modelling with micro-level data.

Previously, she worked at the Federal Reserve Board of Governors and the IMF.

She holds a Ph.D. in Economics from Columbia University and a Master’s in Econometrics and Mathematical Economics from the London School of Economics. Camelia’s research focuses on financial intermediation, banking regulation, international finance, and development, particularly the effects of macroeconomic policies on banks and firms. Her papers have been published extensively in peer-reviewed journals, including the Review of Financial Studies, Journal of Financial Economics, and Review of Economics and Statistics.

He is also a Research Fellow at the CEPR and IZA. His research focuses on macroeconomics, with an emphasis on housing, inequality, labor markets, and the transmission of monetary and fiscal policy.

He is the recipient of an ERC Consolidator Grant for the project HIPSTERMacro, which investigates the macroeconomic consequences of housing, price-setting, and inequality. His work has been published in leading journals including the American Economic Review and Journal of Political Economy. He has served as a consultant for several European central banks and institutions and as a Managing Editor of the Review of Economic Studies from 2019 to 2024.

He is a macroeconomist studying how the enormous heterogeneity observed at the micro level, and in particular the large disparities in income and wealth, impact the macro economy and macroeconomic policy.

Moll’s work analyzes the macroeconomic and distributional consequences of monetary and fiscal policy as well as disruptions like the Covid-19 pandemic or the European energy crisis.

He holds a PhD from the University of Chicago. Moll is a Fellow of the Econometric Society, the recipient of the Bernácer Prize for best European economist under 40 working in macroeconomics and finance, the Calvó-Armengol International Prize in Economics, and a co-editor of the American Economic Review.

Before joining the ECB in 1998, he was a research economist at the Banca d’Italia and later desk economist in the European Department of the IMF. He has written on the political economy of fiscal policy, on the reform of social security, on the history and theory of monetary standards, on stochastic general equilibrium macro-modelling and on monetary economics in general.

He has published in the American Economic Review, the Quarterly Journal of Economics, the Journal of Monetary Economics, the Journal of Money, Credit and Banking, the Journal of Economic Dynamics and Control and contributed to several other publications.

Her research focuses on macroeconomics and monetary economics, with particular emphasis on climate change and inequality. In one line of work, she estimates a New Keynesian macro-climate model to study the effects of carbon policy shocks on the euro area and implications for monetary policy. In another, she investigates the asymmetric responses of inflation and income inequality to business cycle shocks using a nonlinear heterogeneous-agent framework.

During her PhD, she participated in the ECB Summer Research Graduate Programme in honour of Ivan Jaccard and visited Northwestern University. She holds an MSc in Quantitative Economics from Goethe University and a BSc in Central Banking from the University of Applied Sciences of the Deutsche Bundesbank.

He holds a PhD in Economics from the University of Warwick. Until 1998 he worked in the Research Department of the Banca d'Italia.

Oreste’s research focuses on topics related to monetary policy, including the optimal interest rate setting, credit policies, the natural rate of interest, the distributional effects of monetary policy and the term structure of interest rates. He has published in many journals including AEJ: Macro, the Journal of the European Economic Association, the Journal of Monetary Economics and Quantitative Economics. Oreste chairs the Eurosystem’s Household Finance and Consumption Network.