The ECB and Its Watchers XXI

September 30, 2020

Casino Festsaal
Campus Westend
Goethe University Frankfurt


08:15 – 09:15


09:15 – 09:30


Volker Wieland (Institute for Monetary and Financial Stability)
Birgitta Wolff (Goethe University Frankfurt)

09:30 – 10:15

President's Address

Christine Lagarde (President of the European Central Bank) (Speech)

10:15 – 11:45

Debate 1: The ECB's Mandate: Does It Need to Be Modified to Be Fit for the Future?

Chair: Jens Weidmann (Deutsche Bundesbank) (Remarks)


Christian Noyer (Banque de France) (Slides)
Jordi Galí (CREI and Universitat Pompeu Fabra) (Slides)
Helmut Siekmann (Institute for Monetary and Financial Stability) (Speech) (Slides)

Lead questions:

Thomas Möllers (University of Augsburg)
Elga Bartsch (BlackRock)
Jörg Zeuner (Union Investment)

11:45 – 12:00 Break

12:00 – 13:30

Debate 2: The ECB's Instruments for Crises and Normal Times

Chair: Pablo Hernández de Cos (Banco de España)


Lucrezia Reichlin (London Business School) (Slides)
Athanasios Orphanides (MIT Sloan School of Management) (Slides)
Claudio Borio (Bank for International Settlements) (Speech)

Lead questions:

Katharina Utermöhl (Allianz)
Ulrich Kater (DekaBank)
Jari Stehn (Goldman Sachs)

13:30 – 14:30


14:30 – 16:00

Debate 3: The ECB's Monetary Policy Strategy: Lessons From the Financial Crisis, Debt Crisis and Double Recession

Chair: François Villeroy de Galhau (Banque de France)


Otmar Issing (Center for Financial Studies)
Petra Geraats (University of Cambridge) (Slides)
John B. Taylor (Hoover Institution, Stanford University) (Slides)

Lead questions:

Dirk Schumacher (Natixis)
Julian Callow (Element Capital)
Sylvain Broyer (S&P Global Ratings)

16:00 – 16:30

Conference Wrap-Up

Philip Lane (European Central Bank)