The CFP is now closed (submission deadline: March 20, 2025). Successful authors will be notified by mid to late April.
The 2025 Annual Meeting of the Central Bank Research Association (CEBRA) is co-organized with the Federal Reserve Bank of Boston and Harvard Business School, Pricing Lab, Digital Data Design Institute at Harvard (D^3).
- Date: Wednesday 6 August to Friday 8 August 2025
- Location: Federal Reserve Bank of Boston (6 Aug) and Harvard Business School (7-8 Aug)
Summary Program
The CEBRA Annual Meeting, now celebrating its tenth year, brings together practitioners to explore a wide range of pressing topics relevant to central banks, financial regulators, international financial institutions and fiscal authorities. With the input and support of almost 30 central banks, this year's call for papers ensures the sessions will be diverse, engaging and highly topical. We invite you to submit your paper and be part of this important discussion.
The conference will showcase a keynote address by Alberto Cavallo, followed by an insightful panel on Technology and the Inflation Process, organized by Raphael Auer. Two high-level policy panels, hosted by the Federal Reserve Bank of Boston, will further enrich the discussions. Additionally for 2025, CEBRA is pleased to highlight a poster session designed specifically for early-career economists, providing a platform for emerging voices in the field. The program will also feature a session by Banca d’Italia on Women in Central Banking.
The Scientific Committee is composed of Laura Alfaro (Harvard Business School), Raphael Auer (BIS Innovation Hub, CEBRA), Alberto Cavallo (Harvard Business School), Raphael Schoenle (Brandeis University, CEBRA) and Egon Zakrajšek (Federal Reserve Bank of Boston).
The submission deadline was Thursday, 20 March 2025. Successful authors will be notified by mid/end of April.
Submissions to CEBRA’s 2025 Annual Meeting are being sought on the below list of themes and related topics:
- Monetary-Fiscal Interactions and Policy Making
- Geopolitics, Firms, and Financial Markets
- Communication, Monetary Policy Transmission and Effectiveness
- Inflation, Inflation Expectations, and Price Dynamics
- Aging, Climate Risks, and Financial Stability
- Technological Innovations and Financial Markets
Sessions Titles, Organizers and Committee Members:
1. Geopolitical and Geoeconomic Shocks
Session organized by: Banco de España
Committee: Irina Balteanu, Irma Alonso, Rodolfo Campos and Javier Perez (Banco de España)
2. Spillovers of Advanced Economy Fiscal Policy onto Emerging Markets
Session organized by: Banco de México
Committee: Santiago Bazdresch
3. Women in Central Banking
We invite papers on any topics related to central bank policy (submissions from early-career women are particularly welcome).
Session organized by: Banca d’Italia
Committee: Federico Cingano, Sergio Santoro, Ilaria Supino and Roberta Zizza (Banca d’Italia)
4. Macroeconomic Policies, Perceptions and Expectations
Session organized by: Bank for International Settlements
Committee: Fiorella De Fiore and Damiano Sandri (Bank for International Settlements)
5. Fiscal Inflations, Past and Present
Session organized by: Bank of England
Committee: Michael Kumhof, Oliver Bush, Carlos Canon Salazar, Nick Vause and Andreas Joseph (Bank of England)
6. Monetary, Fiscal and Financial Stability Interactions in a Monetary Union
Session organized by: Bank of Finland
Committee: Esa Jokivuolle, Juha Kilponen and Iikka Korhonen, (Bank of Finland), Anton Korinek (University of Virginia)
7. Global Capital Flows and Monetary Policy Effectiveness
Session organized by: Bank of Israel
Committee: Itamar Caspi and Sigal Ribon (Bank of Israel)
8. Heterogeneous Firms and Aggregate Dynamics: Productivity, Growth, and Policy Implications
Session organized by: Bank of Japan
Committee: Satoko Kojima, Koji Takahashi and Daisuke Ikeda (Bank of Japan)
9. Central Bank Communication
Session organized by: Bank of Korea
Committee: Hosung Lim, In Do Hwang and Inhwan So (Bank of Korea)
10. Economic Impact of Aging
Session organised by: Bank of Korea
Committee: Taehyoung Cho, Dongweon Lee and Taekyung Kim (Bank of Korea)
11. Monetary Policy Transmission: Dynamics and Heterogeneity
Session organized by: Latvijas Banka and Eesti Pank
Committee: Karlis Vilerts and Olegs Tkacevs (Latvijas Banka), Alari Paulus and Tairi Rõõm (Eesti Pank)
12. Emerging Risks in International Finance
Session organized by: CEBRA’s International Finance and Macroeconomics (IFM) Program
Committee: Galina Hale (UC Santa Cruz) and Fernanda Nechio (Federal Reserve Bank of San Francisco)
13. International Trade and Macroeconomics
Session organized by: CEBRA’s International Trade and Macroeconomics Program
Committee: Yuhei Miyauchi (Boston University) and Viacheslav Sheremirov (Federal Reserve Bank of Boston)
14. International Macro-Finance and Monetary Policy
Session organized by: Center for Pacific Basin Studies and Center for Monetary Research, Federal Reserve Bank of San Francisco
Committee: Zheng Liu, Michael Bauer, Thuy-Lan Nguyen and Thomas Mertens (Federal Reserve Bank of San Francisco)
15. State-dependence in Monetary Policy Transmission
Session organized by: Central Bank of Ireland
Committee: David Byrne, Robert Goodhead, Dilan Aydin Yakut, and Gabriel Arce-Alfaro (Central Bank of Ireland)
16. Green Transition and Central Banking
Session organized by: Danmarks Nationalbank
Committee: Seho Kim, Alexander Dietrich and Dominic Cucic (Danmarks Nationalbank)
17. Monetary Policy Challenges in Times of Fiscal Imbalances and High Public Debt
Session organized by: De Nederlandsche Bank
Committee: Guido Ascari, Leonardo Melosi, Timo Haber and Kostas Mavromatis (De Nederlandsche Bank)
18. Geopolitics of Firms and Banks
Session organized by: Deutsche Bundesbank
Committee: Björn Imbierowicz and Martin Goetz (Deutsche Bundesbank)
19. Challenges for Monetary Policy Transmission – Emerging Results from the ESCB ChaMP Network
Session organized by: European Central Bank, Nationale Bank van België/Banque Nationale de Belgique, Banca d'Italia, Öesterreichische Nationalbank and Banco de Portugal
Committee: Philipp Hartmann (European Central Bank), Emmanuel Dhyne (Nationale Bank van België/Banque Nationale de Belgique), Margherita Bottero (Banca d'Italia), María T. Valderrama (Öesterreichische Nationalbank) and Diana Bonfim (Banco de Portugal)
20. Recent Advances in Understanding Inflation and Inflation Expectations
Session organized by: Federal Reserve Bank of Boston
Committee: Egon Zakrajsek and Philippe Andrade (Federal Reserve Bank of Boston)
21. Inflation: Drivers and Dynamics
Session organized by: Federal Reserve Bank of Cleveland’s Center for Inflation Research
Committee: Damjan Pfajfar and Robert Rich (Federal Reserve Bank of Cleveland)
22. Implications of Aging Populations for Financial Markets and Institutions
Session organized by: Federal Reserve Board
Committee: Stephanie E. Curcuru, Ricardo Correa and Nathan Converse (Federal Reserve Board)
23. Assessing the Impact of Extreme Weather Events on the Financial System
Session organized by: Financial Stability Board
Committee: Michael Januska and Abhishek Srivastav
24. Global Trade Reallocation: Real, Financial and Monetary Implications
Session organized by: Harvard Business School
Committee: Laura Alfaro (Harvard Business School)
25. Micro Prices and Inflation
Session organized by: D3/HBS Pricing Lab
Committee: Alberto Cavallo (Harvard Business School)
26. Tokenization and Financial Markets
Session organized by: International Monetary Fund
Committee: Maria Martinez Peria and Rui C. Mano (International Monetary Fund)
27. Challenges for Monetary Policy Transmission - Selected Research Papers from the ESCB ChaMP Network
Session organized by: Nationale Bank van België/Banque Nationale de Belgique
Committee: Emmanuel Dhyne (Nationale Bank van België/Banque Nationale de Belgique), María T. Valderrama (Österreichische Nationalbank), Diana Bonfim (Banco de Portugal), Margherita Bottero (Banca d'Italia) and Philipp Hartmann (European Central Bank)
28. Sustainable Finance
Session organized by: Leibniz Institute for Financial Research SAFE
Committee: Loriana Pelizzon and Florian Heeb (Leibniz Institute for Financial Research SAFE)
29. Macroprudential Policies
Session organized by: Norges Bank
Committee: Knut Are Aastveit and Ragnar Juelsrud (Norges Bank)
30. The Changing Nature of Corporate Bond Markets: Implications for Productivity, Financial Stability and Capital Flows
Session organized by: OECD
Committee: Etienne Lepers, Carl Magnus Magnusson, Filiz Unsal and Fatih Ozturk (OECD)
31. Soft Landing and Stabilization Trade-Offs
Session organized by: Öesterreichische Nationalbank
Committee: Alex Grimaud and Thomas Zoerner (Öesterreichische Nationalbank)
32. Communicating Monetary Policy in Emerging Markets
Session organized by: South African Reserve Bank
Committee: Konstantin Makrelov, Christopher Loewald, Laurence Harris and Nicola Viegi (South African Reserve Bank)
33. Market Competition, Financial Frictions, and Firm Pricing
Session organized by: Sveriges Riksbank
Committee: Ulf Söderström, Xin Zhang and Valentin Schubert (Sveriges Riksbank)
34. The Role of Cash (Banknotes and Coins) in the Economy and the Determinants of Cash Demand and Usage
Session organized by: Swiss National Bank
Committee: Marc-Antoine Ramelet (Swiss National Bank)
35. New Theories and Evidence on Inflation and Inflation Expectations
Session organized by: CEBRA's "Inflation: Drivers and Dynamics” (IDD) Program
Committee: Raphael Schoenle (Brandeis University, CEBRA)
Poster Session for Early-Career Economists
We invite early-career economists to showcase their innovative and creative research in this dedicated poster session, organized by Bangko Sentral ng Pilipinas. Submissions are welcomed on a wide range of topics, with a particular emphasis on macroeconomic issues relevant to economic policy, especially central bank policy.
Eligibility Criteria
Eligible participants include early-career economists (i.e., those with five years or less of experience at central banks), graduate students or individuals within three years of completing their PhD defense. Preference will be given to economists affiliated with central banks or international institutions.
Decision Timeline: Successful authors will be notified by mid-April.
For More Information: If you have any questions about this call for papers or the annual meeting, please contact us at office@cebra.org.
Disclaimer: Participation of the above-listed co‐sponsoring institutions does not constitute or imply an endorsement, recommendation or favoring endorsement of the views, opinions, products or services of the Central Bank Research Association or any other co‐sponsor or other person or entity by any of the co‐sponsoring institutions. All views expressed during CEBRA's 2025 annual meeting are strictly those of the authors, discussants, and other participants and not those of CEBRA, the co‐sponsoring institutions or any other institutions.