Intro Jan Behringer
Jan Behringer from the IMK Macroeconomic Policy Institute welcomes all participants of the introductory workshops and informs about the FMM and its events. 

Intro Guilherme Morlin and Vinícius Cicero
Guilherme Morlin from the University of Siena and Vinícius Cicero from the Colorado State University inform about the activities of The Young Scholar Initiative (YSI).

Welcome address
Heike Joebges from the HTW Berlin officially opens the 27th FMM Conference and welcomes all participants.

Opening Ozlem
Ozlem Onaran from the University of Greenwich introduces the speakers of the first plenary session, Eckhard Hein, Servaas Storm and Marc Lavoie.

Discussion Day I
Eckhard Hein, Servaas Storm and Marc Lavoie answer the audience´s questions about the presentations in the first plenary session on causes of inflation. 

Discussion Day II
Arindrajit Dube, Lilian N. Rolim and Andrew Watt answer the audience´s questions about the presentations in the second plenary session on experiences with inflation, distributional conflict and counter-inflationary policies.

Discussion Day III
Leila Davis, Christian Schoder and Miguel Gil-Tertre answer the audience´s questions about the presentations in the third plenary session on inflation and just transition.

Antonella Stirati (Roma Tre University): History and fundamentals of post-Keynesian macroeconomics    
Antonella Stirati opens the introductory workshops with a presentation on “History and fundamentals of post-Keynesian Macroeconomics”. She gives an overview of the history and the characteristic features of the post-Keynesian paradigm, thereby describing main common views as well as differences within post-Keynesian economics.

Marc Lavoie (University of Ottawa, University of Paris 13): Post-Keynesian theory of inflation
The second presentation on “Post-Keynesian theory of inflation” is held by Marc Lavoie. He gives an overview of various causes of inflation and explains how inflation can be modeled in both a closed and an open economy. 

Robert Blecker (American University Washington DC): Open economy macroeconomics
In the last lecture of the introductory lectures, Robert Blecker presents on “Open economy macroeconomics”. By going through the short run, medium run and long run he shows that international trade can be either conflictive or cooperative.

Chair: Özlem Onaran (University of Greenwich)

Eckhard Hein (Berlin School of Economics and Law): Inflation is always and everywhere … a conflict phenomenon: post Keynesian inflation theory and energy price driven conflict inflation, distribution, demand and employment
Eckhard Hein opens the first plenary sessions and explains how conflict causes inflation. By explaining various post-Keynesian frameworks, he argues that inflation is always and everywhere a conflict phenomenon.

Servaas Storm (Delft University of Technology): The art of paradigm maintenance: How the ‘science of monetary policy’ mismanages inflation (2021-2023) and gets away with it
In the second presentation, Servaas Storm talks about “adding epicycles – or three ways to blame workers for the inflation they did not cause”. He argues that the U.S. has mismanaged inflation due to this paradigm maintenance.

Marc Lavoie (University of Ottawa, University of Paris 13): Questioning profit inflation as an explanation of the post-Pandemic inflation
Marc Lavoie closes the first plenary session with a talk on post-Pandemic inflation and its causes. He raises the question of whether profit margins cause inflation and argues for multiple causes of inflation.
 

Chair: Torsten Niechoj (Rhine-Waal University of Applied Sciences)

Arindrajit Dube (University of Massachusetts Amherst): The unexpected compression: Competition, wages, and inequality during the U.S. recovery
Arindrajit Dube opens the second plenary session and presents the latest findings on changes in the wage structure during the U.S. recovery. He shows that wage inequality has fallen since 2020.

Lilian N. Rolim (University of Campinas): Inflation and income distribution in Brazil from a Kaleckian perspective
Lilian N. Rolim discusses inflation and income distribution in Brazil. She argues for different tools to deal with multidimensional inflation rates and to reduce Brazil´s dependence on the foreign sector.

Andrew Watt (IMK Macroeconomic Policy Institute): Counter-inflationary policies: European experiences
Andrew Watt presents European experiences with counter-inflationary policies. He discusses responses at the European level as well as national policy packages and their effectiveness and trade-offs regarding distributional and ecological outcomes.

Chair: Sebastian Gechert (Chemnitz University of Technology)

Leila Davis (University of Massachusetts Boston): Profits and markups during the post-Covid inflation shock in the U.S. economy: a firm-level lens
In the last plenary session, Leila Davis gives an overview of aggregate firm-level profits during post-Pandemic inflation in the U.S. She argues that steady firm markups point to profit inflation.

Christian Schoder (World Bank): Inflation and the just transition in emerging markets: Projections for Turkey
Christian Schoder begins his talk by introducing the OMEGA model, an integrated framework for policy analysis. He then continues with insights from climate policy simulations for Turkey.

Miguel Gil-Tertre (DG Energy EU COM): Energy prices: perspectives from the recent crisis and the green transition 
Miguel Gil-Tertre gives an overview of how the European Union has faced the energy crisis in the face of the Russian war against Ukraine. He describes various strategies for increasing supply and reducing demand and their interrelationship with competitiveness and the green transition.

At the core of the 27th FMM Conference was the question of how to explain the economic phenomenon of inflation. It focused not only on the causes of inflation, but also on its impacts and how to fight it, all of it topics dominating the public discourse. These themes interact in complex ways with distributional concerns and the ecological transformation. The causes of the current inflation remain controversial. What are the relevant weights, in different countries, of supply-side constraints, demand-side factors, mark-up power of firms, or speculation in commodity markets? What is the interaction between these factors and the role of distributional conflict between societal groups, both in driving inflation and in responding to it? Is the green transition itself a source of inflationary pressure or part of the solution? How can a just transition be achieved? What are the likely prospects for inflation given structural changes in emerging markets and demographic trends? These and more questions were discussed at the 2023 Conference.

Programme (pdf)

Kontakt:
Sabine Nemitz
fmm[at]boeckler.de

A1: HETERODOX ECONOMIC MODELLING

Chair: Eckhard Hein

Endogenous cycles in the Sraffian supermultiplier model with a non-linear investment function
Ricardo Araujo (Univerisy of Brasilia), Fabio Freitas, Helmar Moreira 

Inferring the Goodwin-Keen model for the United States (1959-2019)
Hugo Bailly (Georgetown University), Frédéric Mortier, Gaël Giraud

Kaleckian and Sraffian models of conflict-inflation 
Guilherme Spinato Morlin (University of Pisa), Ricardo Summa, Gabriel Ferraz Aidar 

Behavioral economics and post-Keynesian macroeconomics
Peter Skott (University of Massachusetts Amherst)
 

A2: PROFIT INFLATION

Chair: Robert Blecker

Decomposing current inflation rates in the euro area by wage and profit inflation: The role of wage and price rules 
Heike Joebges (HTW Berlin), Camille Logeay

Questioning profit inflation as an explanation of the post-Pandemic inflation
Marc Lavoie (University of Ottawa)

The economics of conflict inflation revisited: pseudo-Phillips curves, accelerationism, and policy implications
Thomas Palley (Economics for Democratic & Open Societies)

Wage policy after price shocks 
Hansjörg Herr (HWR Berlin), Michael Heine
 

A3: INDUSTRIAL POLICY

Chair: Gennaro Zezza

Drivers and patterns of deindustrialization in advanced economies
Miguel Ángel Casaú Guirao (Autonomous University of Madrid), Adrián Rial

Sectoral dynamics of industrial policy in a two-sector economy: The case of Korea’s heavy and chemical industry (HCI) promotion (1973-1979)
Joseph Jung (Dalhousie University Halifax)

Securing future-fit jobs in the green transformation: A policy framework for industrial policy 
Nils Rochowicz (Chemnitz University of Technology), C. Gräbner-Radkowitsch, L. Le Lannou, S. Kuhls, J. Hafele

The impact of the COVID-19 Pandemic on industrial policy in Germany and the European Union – The case of the automotive industry 
Salome Topuria (University of Kassel / HWR Berlin), Helena Gräf 
 

A4: EMPLOYMENT

Chair: Miriam Rehm

Minimum wage, aggregate demand and employment: A demand-led model 
Cem Oyvat (University of Greenwich)

How far from full employment? The European unemployment problem revisited
Meryem Goekten (wiiw), Philipp Heimberger, Andreas Lichtenberger 

Hysteresis in good times? Autonomous demand shocks’ effects on inflation, capital and labour in the US
Davide Romaniello (Roma Tre University), Lorenzo DiDomenico, Santiago Josè Gahn

Endogenous technical change, wealth distribution and the wage share: The role of labor market institutions 
Luca Zamparelli (University of Rome), Daniele Tavani 
 

A5: GENDER & LABOUR SUPPLY

Chair: Ruth Badru

Gender Segmentation in the Mexican Labor Market 
Violeta Rodríguez (UNAM)

Amazon green recovery and labour market in Brazil: Can green spending reduce gender and race inequalities?
Tainari Taioka, (University of São Paulo), P. R. Marques, L. Nassif-Pires, J. Bergamin, G. Tadeu Lima

Gendered structural transformation within manufacturing
Izaskun Zuazu (Duisburg-Essen University), Elissa Braunstein

Credit as an instrument for growth: A monetary explanation of the Chinese growth story 
Peter Bofinger (University of Würzburg), Lisa Geißendörfer, Thomas Haas, Fabian Meier 
 

A6: EU ECONOMIC ISSUES 

Chair: Elisabeth Springler

Inflation differentials in the Euro zone: a driver of endogenous divergence
Wafae Ajraoui (University Sorbonne Paris Nord)

Too-big-to-fail banking in Europe. An enduring challenge
Stefanos Ioannou (Oxford Brookes University), Panagiotis Iliopoulos, Dariusz Wójcik

Inequality and poverty in the European Union: In search of lost dynamics
Celia Gil-Bermejo (Complutense University of Madrid), A. Jesús Sánchez-Fuentes, Jorge Onrubia

A comparative study on the role of non-price competitiveness for European countries 
Sascha Keil (Chemnitz University of Technology / Roma Tre University)

S1: ENVIRONMENTAL ECONOMICS

Chair: Jesper Jespersen

Green fiscal policies in a UK ecological stock-flow consistent model 
Adam George (SOAS University), Yannis Dafermos

Addressing income and carbon inequality under energy price shocks through an agent-based model with households’ energy demand 
Giacomo Ravaioli (Universidade de Lisboa), Francesco Lamperti, Andrea Roventini, Tiago Domingos

Climate-related risks and financial instability in Brazil
Angela Modica Scala (IUSS Pavia), Lílian Rolim, Alessandro Caiani 

Modelling green transition of the Chinese economy 
David An (University of Siena) 
 

S2: INFLATION

Chair: Fernando Ferrari-Filho

Estimating the effect of the Iberian exception mechanism on different inflation categories for Spain and Portugal
Miguel Haro Ruiz (University Halle-Wittenberg / IWH) 

CO2 pricing and the elasticity of heating and cooling energy demand: A meta-analysis
Teresa Müller (Chemnitz University of Technology), Sebastian Gechert, Bianka Mey, Franz Prante

Stress testing inflation exposure: Systemically significant prices and asymmetric shock propagation in the EU28 
Leonhard Ipsen (University of Bamberg), Armin Aminian, Jan Schulz-Gebhard 

Systemically important prices in Germany: What follows for inflation in times of climate change?
Jan-Erik Thie (IMK Macroeconomic Policy Institute / Global Climate Forum), Jesús Lara Jauregui, Isabella Weber
 

S3 DISTRIBUTION / INEQUALITY 

Chair: Jochen Hartwig

Beyond merit and wealth: The ripple effects of meritocracy-driven inequality on financial stability and economic growth within an agent-based model
Hannah Engljähringer (Scuola Superiore Sant’Anna Pisa), Elisa Palagi, Andrea Roventini

Heterogenous migrant wealth gaps in Germany 
Rudolf Faininger (University of Siegen), Svenja Flechtner

Energy poverty and subjective health: Micro-level evidence from Germany 
Martin Buchner (University of Duisburg-Essen), Miriam Rehm

Income sources and consumption – does financial income induce less consumption than labour income? 
Gal Rakover (University of Greenwich)
 

S4: MONETARY POLICY & FINANCE

Chair: Engelbert Stockhammer

Inflation targeting and Central Bank communication in developing countries: A comparative analysis of Brazil and Mexico
Nikolas Passos (Scuola Normale Superiore Florence) 

Differential effects of unconventional monetary policy
Sebastian Eiblmeier (Leibniz Universität Hannover) 

The fiscal multiplier in presence of unconventional monetary policy: Evidence for 17 OECD countries
Daniel Fernández-Romero (Autonomous University of Madrid) 

A real time-space framework to understand geographically uneven economic dynamics in a monetary perspective
Riccardo D‘Orsi (University of Leeds)
 

S5: INVESTMENT & SAVING

Chair: Steven Fazzari 

Household saving during the Corona crisis and implications for the recovery
Maike Korsinnek (IMK Macroeconomic Policy Institute)

Indebtedness and firm capital investment: An empirical post-Keynesian approach
Rubén Gonzálvez (Complutense University of Madrid) 

Market power and investment in advanced economies: Monopolistic and ‘segmented’ forms of competition
Agustin Pedrazzoli (Universidad Autonoma de Madrid), Ignacio Alvarez Peralta, Santos M. Ruesga Benito 

Interest rates and capital accumulation regimes in Brazil
Luis Felipe Eick (University of Utah), Andre Moreira Cunha 
 

S6: OPEN ECONOMY ISSUES

Chair: Hansjörg Herr

Labor share decline across US manufacturing subsectors 1979-2019
Swayamsiddha Sarangi (University of Utah)

Economic knock-on effects of Russia’s geopolitical risk on advanced economies: A global VAR approach
Maximilian Dirks (RWI / University of Bochum), Boris Blagov, Michael Funke

Regional trade, trade partners and the Dutch Disease
Melike Döver (HTW Berlin / Freie Universität Berlin), Martin Middelanis 

Demand and conflict inflation in an empirical model of the UK 
Stuart Leitch (University of Greenwich)

B1: ECOLOGICAL SFC MODELLING

Chair: Maria Nikolaidi

Mortgage-backed securities and housing decarbonisation in an ecological stock-flow consistent model
Ali Berk Kökbudak (University of Greenwich), Maria Nikolaidi

Conditions and implications of the energy transition in a calibrated SFC input-output model of the world economy
Mattia Pettena (University of Genoa), Marco Raberto

Using input-output stock-flow consistent models to simulate and assess ‚circular economy‘ strategies
Marco Veronese Passarella (University of Rome) 

The macroeconomics and political economy of low inflation in Bolivia
Raul Zelada Aprili (Trinity College)
 

B2: MONETARY POLICY / INEQUALITY

Chair: Tom Bauermann

Same old song - On the macroeconomic and distributional effects of leaving a low interest low interest environment
Alberto Botta (University of Greenwich), Eugenio Caverzasi, Alberto Russo 

Monetary policy, income distribution, and the cost channel of monetary policy: Empirical evidence from Japan, the UK, and the US
Antonino Lofaro (University of Roma Tre), Matteo Deleidi, Enrico Sergio Levrero 

Monetary policy, stock market dynamics, and income inequality: An asymmetric nonlinear analysis for the United States and the United Kingdom
Ruth Badru (University of Bristol)

To which extent do monetary policies affect inequality? 
Dany Lang (University Sorbonne Paris Nord), Huub Meijers, Colin Vuilletet
 

B3: ROUND TABLE ON ‚FISCAL SPACE, INVESTMENT AND INFLATION. TOWARDS A NEW POLICY ARCHITECTURE FOR THE EURO ZONE‘

Chair: Torsten Niechoj

The mew stability and growth pact: How much old wine is in the new bottle? 
Jan Priewe (HTW Berlin / HWR Berlin)

NN
Francesco Saraceno (OFCE)

Demand for an active fiscal policy as a precondition for future-oriented sustainable economic development
Elisabeth Springler (UAS BFI Vienna)

NN
Gennaro Zezza (Università di Cassino)
 

B4: INFLATION EMERGING ECONOMIES

Chair: Sebastian Valdecantos

A post-Keynesian-structuralist empirical approach to inflationary pressures in Turkey
Betul Mutlugun (Istanbul University) 

Conflict fuels inflation but the tinder lies elsewhere: Eclectic structuralist thoughts in a developing economy context
Arslan Razmi (University of Massachusetts)

Is ‚high‘ inflation always and everywhere an exchange rate phenomenon in developing countries?
Hasan Comert (Trinity College), Tural Yusufzade 

Price and wage inflation in Brazil in 1999-2022: A post-Keynesian approach
Luiz Fernando Rodrigues de Paula (Universidade Federal do Rio de Janeiro), Michelle Malher Jorge, Julia Braga 
 

B5: FINANCE / FINANCIALISATION

Chair: Jo Michell

The changing faces of financialisation: Different dimensions and evolving debates
Engelbert Stockhammer (King‘s College London)

Evaluation of financial forecasters during crises episodes
Artur Tarassow (Hamburg University)

The political economy of asset versus consumer inflation
Christoph Scherrer (University of Kassel), Nora Horn 

Towards a sustainable and non-ergodic theory of investment
Jack Reardon (University of Wisconsin-Eau Claire)
 

B6: BEHAVIORAL MODELLING OF POLITICAL, MACROECONOMIC AND ENVIRONMENTAL DYNAMICS

Chair: Christian Proaño

A baseline model of behavioral political cycles and macroeconomic fluctuations 
Christian Proaño (University of Bamberg), Corrado Di Guilmi, Giorgos Galanis

The global political economy of a green transition
Giorgio Ricchiuti (Università degli Studi di Firenze), Giorgos Galanis, Ben Tippet

Speculation and policy credibility in ETS
Severin Reissl (RFF-CMCC), Emanuele Campiglio, Roberta Terranova

Navigating electoral cycles and investment dynamics under climate policy uncertainty
Roberta Terranova (RFF-CMCC), Francesco Lamperti, Emanuele Campiglio, Louis Daumas

C1: FISCAL POLICY

Sebastian Gechert

A fiscal alternative to monetary austerity amidst conflict inflation
Jo Michell (University of the West of England), Adam Aboobaker

Fiscal surplus regimes - A critical appraisal of the political economy literature
Christoph Paetz (IMK Macroeconomic Policy Institute), Till van Treeck, Achim Truger

The composition of local government expenditure and fiscal policy: A cluster analysis
Panagiotis Iliopoulos (KU Leuven), Kristof De Witte

The effects of VAT reduction on prices of agricultural goods in Spain
Javier Baquero-Pérez (Autonomous University of Madrid), Daniel Fernández-Romero, Julimar Da Silva-Bichara
 

C2: CONFLICT INFLATION

Chair: Jan Priewe

Conflict inflation in theory and practice - With a discussion of the Italian case
Davide Romaniello (Roma Tre University), Antonella Stirati 

Energy price shocks, conflict inflation, and income distribution in a three-sector model
Rafael Wildauer (University of Greenwich), Karsten Kohler, Alexander Guschanski, Adam Aboobaker

Profit margins and inflation: A sectoral-level estimation of factors driving inflation in Greece
Christos Pierros (INE-GSEE), Dimitris Paitaridis

Sellers’ inflation, profits and conflict: Why can large firms hike prices in an emergency
Evan Wasner (University of Massachusetts Amherst), Isabella Weber
 

C3: PUBLIC INVESTMENT

Chair: Jan Behringer

The employment effects of public investment in the green and the care economy
Ozlem Onaran (University of Greenwich), Cem Oyvat

The interaction between private and public physical capital accumulation in a surplus labor economy  
Carlandia Fernandes (State University of Maringá), Guilherme Oliveira

A stock flow consistent model of public investment and debt dynamics
Ekaterina Juergens (IMK Macroeconomic Policy Institute) 

More public housing construction to maintain capacity - An estimate of declines in construction activity due to increased interest rates for 2022-2024
Thomas Theobald (IMK Macroeconomic Policy Institute), Carolin Martin, Lukas Jonas
 

C4: PRODUCTIVITY & DISTRIBUTION 

Chair: Barbara Fritz

Do automation potentials drive productivity growth? The relation between the routine task intensity and labor productivity
Enno Schroeder (TU Delft), Daniel Samaan

Europe’s productivity puzzle: Empirical evidence on the firm and sector level
Ines Heck (University of Greenwich), Cem Oyvat

Loosing unequally: Financialisation, productivity, and the finance wage premium in Greece
Giorgos Gouzoulis (Queen Mary University of London), Iris Nikolopoulou 

Exploitation in the United States, 1975-2018
Roberto Veneziani (Queen Mary University of London), Daniele Girardi, Nicolas Grau Veloso, Naoki Yoshihara
 

C5: CORPORATE FINANCE

Chair: Jack Reardon

Exploring the shift in corporate saving patterns: Insights from German public firms
Carmen Giovanazzi (University of Duisburg-Essen), Dorothee Putscher, Vincent Victor

Determinants of corporate liquidity in a financialized economy 
Ewa Karwowski (King‘s College London), Hanna Szymborska 

Does business taxation influence wage levels? 
Kevin Rösch (University of Siegen), Svenja Flechtner, Inga Hardeck

How to end a Minsky financial supercycle?
Ayoze Alfageme Ramirez (University of Geneva), Cédric Durand, Simon Grothe
 

C6: POST-KEYNESIAN ECONOMICS

Chair: Thomas Palley

Overlapping cycles of debt, demand, and distribution; Goodwin and household credit-driven cycles
Yun K. Kim (University of Massachusetts), Michael Cauvel

The effects of distributional shocks on output and unemployment
Alejandro Gonzalez (Washington University in St. Louis)

The impact of expectations on growth in stock-flow consistent models
Joan Muysken (Maastricht University), Huub Meijers, Giulia Piccillo 

Explaining the high (and increasing) current account surplus in Denmark: The effect of a pro-labour wage policy 
Mikael Randrup Byrialsen (Aalborg University), Sebastian Valdecantos 

D1: ECOLOGICAL ECONOMICS

Chair: Yannis Dafermos

A stock flow ecological model from a Latin American perspective
Giuliano Yajima (Levy Economics Institute), Leonardo Rojas-Rodríguez, Lorenzo Nalin, Esteban Pérez-Caldentey, José E. Alatorre

Environmental-macroeconomic modelling: Notes from the field
Eric Kemp-Benedict (Stockholm Environment Institute) 

Macroeconomic degrowth policies in peripheral countries: Conditions, possibilities and limitations
Linnit Pessoa (Fluminense Federal University), Vinicius Martinez

Germany versus USA: Comparing standard of living / quality of life 
Jan Priewe (HTW Berlin / HWR Berlin)
 

D2: DISTRIBUTION

Chair: Paulo dos Santos

Taxing the EU top 1%: The role of corporate taxation 
Sarah Godar (Eu Tax Observatory), Giulia Aliprandi, Sofia Balladares, Theresa Neef

Energy price shocks, inflation, and distribution in Italy: A simulation model and policy analysis
Marco Stamegna (Scuola Normale Superiore), Guilherme Spinato Morlin, Simone D‘Alessandro

Inflated inequality or unequal inflation? A case for sustained ‘two-sided’ austerity in Greece
Vlassis Missos (KEPE), Peter Blunt, Charalampos Domenikos, Nikos Pontis

Revisiting positional concerns: A survey experiment 
Lukas Endres (IMK Macroeconomic Policy Institute), Till van Treeck
 

D3: EU ECONOMIC ISSUES

Chair: Andrew Watt

How Mediterranean economies transited to export-led growth? An analysis of the determinants of international competitiveness
Daniel Herrero (ICEI), Adrián Rial, Walter Paternesi-Meloni

Public debt and r-g risks in advanced economies: Eurozone versus stand-alone
Philipp Heimberger (wiiw) (v_2023_10_21_heimberger)

Fiscal policy, investment and employment in Spain after the reform of the Stability and Growth Pact
Jorge Uxó (Complutense University of Madrid), Eladio Febrero, Nacho Alvarez

Inflation in the post-Pandemic era: Lessons from three economies of the Eurozone
Jonathan Marie (University Sorbonne Paris Nord), Eduardo F. Bastian
 

D4: SFC MODELLING

Chair: Marc Lavoie

Macroeconomic imbalances, financial fragility, and economic policies in the euro area: A stock-flow consistent perspective
Maria Nikolaidi (University of Greenwich), Achilleas Mantes

DSK-SFC: An agent-based, stock-flow consistent integrated assessment model 
Severin Reissl (RFF-CMCC), Luca Eduardo Fierro, Francesco Lamperti, Andrea Roventini

Carry trade instability and macroprudential policies: An agent based SFC model
Eugenio Caverzasi (Università degli Studi dell’Insubria), Ermanno Catullo, Pablo Bortz

SFC-IO and CGE models: A comparison
Gennaro Zezza (Università di Cassino), Roberto Roson
 

D5: CAUSES OF INFLATION

Chair: Lilian N. Rolim

Contractionary effects of foreign price shocks (and potentially expansionary shocks of inflation)
Michalis Nikiforos (University of Geneva), Simon Grothe 

Decoding economic signals: Using large language models to investigate sellers‘ inflation in earnings calls
Markus Lang (Heidelberg University)

A dual sector model with heterogenous mark-up behaviour 
Thibault Laurentjoye (Aalborg University), Léo Malherbe

Narratives on the causes of inflation in Germany: First results from a pilot study
Ulrich Fritsche (Universität Hamburg), Lisa Demgensky 
 

D6: OCIAL SPENDING

Chair: Arindrajit Dube

Did the commodity boom benefit public social spending in Latin America?
Svenja Flechtner (Universität Siegen), Martin Middelanis

The cyclical behaviour of government spending for social protection and health: Implications for EU fiscal rules
Aleksandr Arsenev (wiiw), Philipp Heimberger, Bernhard Schütz

Pensions as an engine of growth. An approach to the Spanish case in 2021, based on the multiplier-accelerator model
Eladio Febrero (UCLM), Fernando Bermejo, Jorge Uxó 

Breaking the divide: Can public spending on social infrastructure boost female employment in Italy?
Francesco Zezza (Sapienza Università di Roma), Jelena Reljic 

E1: BELIEFS AND EXPECTATIONS 

Chair: Till van Treeck

News and views on public finances: A survey experiment
Jan Behringer (IMK Macroeconomic Policy Institute), Lena Dräger, Sebastian Dullien, Sebastian Gechert

Connecting the dots: How social networks shape macroeconomic expectations
Rafael Kothe (Bamberg University)

Conventional wisdom and the power of meta analysis in economics
Bianka Mey (Chemnitz University of Technology), Sebastian Gechert, Chris Doucouliagos, Tomas Havranek, Matej Opatrny, Tom D. Stanley

Going viral: Inflation narratives and the macroeconomy
Max Weinig (Universität Hamburg), Ulrich Fritsche 
 

E2: GLOBAL MONEY

Chair: Heike Joebges

Notes on ‚real‘ dollarization, currency substitution and inflation control
Florencia Fares (UNSAM), Emiliano Libman, Guido Zack 

The theoretical, policy, and political problems of contemporary world money
Devika Dutt (King‘s College London), Paulo dos Santos

The geography of liquidity diplomacy: Assessing the access to bilateral central bank swaps
Barbara Fritz (Freie Universität Berlin), Thomas Goda, Laurissa Mühlich, Marina Zucker-Marquez

Political economy of real exchange rate levels
Esra Ugurlu (University of Leeds), Arslan Razmi
 

E3: JUST TRANSITION / INEQUALITY

Chair: Özlem Onaran

Institutional change and just transition
Chiara Grazini (University of Tuscia), Giulio Guarini, Jose Gabriel Porcile 

Towards a climate just financial system 
Yannis Dafermos (SOAS University) 

Wage penalties for care and essential workers in Europe: An occupation-based approach
Lorenzo Cresti (Enrico Fermi Research Center), Armanda Cetrulo, Maria Enrica Virgillito

Returns to class. Capital ownership and income returns to education 
Patrick Mokre (Chamber of Labor Vienna) 
 

E4: MONETARY POLICY

Chair: Malcolm Sawyer

The consequences of unconventional monetary policy in the rise of inequality in Japan
Yuki Tada (The New School for Social Research) 

Monetary policy, distribution, and autonomous demand in the US
Maria Cristina Barbieri Goes (University of Bergamo), Joana David Avritzer

Supermultiplier models, demand stagnation, and monetary policy: Inevitable march to the lower bound for interest rates?
Steven Fazzari (Washington University in St. Louis)

Monetary policy in a context of inflation targeting regime and flexible exchange rate: A comparative analysis based on a VEC model 
Fernando Ferrari-Filho (UFRGS / CNPq), Mateus Ribeiro da Fonseca, Eliane Araujo, Pedro Perfeito da Silva
 

E5: AGENT BASED MODELLING / HETEROGENEOUS AGENTS

Chair: Svenja Flechtner 

Interbank decisions and margins of stability: An agent-based stock-flow consistent approach
Jessica Reale (Ruhr University Bochum) 

A fundamendalists‘ profits paradox?
Giorgos Galanis (Queen Mary University of London), Joep Lustenhouwer, Giorgio Ricchiutti 

Exploring public policies and institutional settings to enhance efficiency in electric markets: An agent-based analysis 
Miquel Bassart i Loré (Universität Bielefeld)

The interplay between real and exchange rate market: An agent-based model approach
Filippo Gusella (University of Florence), D. Delli Gatti, T. Ferraresi, L. Popoyan, G. Ricchiuti, A. Roventini
 

E6: STRUCTURAL / SECTORAL CHANGE

Chair: Christian Schoder

The influence of structural change on occupational and sectoral wage structures: Evidence from multiple economies
Nelson Marconi (Getulio Vargas Foundation), Eliane Araujo, Danilo Spinola, Tiago Porto

Vertical integration and patterns of divergence in European industries: A long term input-output analysis
Fabio Ascione (PIK), Maria Enrica Virgillito

The structural interdependency of industries: An agent-based model
Andreas Lichtenberger (wiiw), O. Reiter, B. Schütz

Unmasking the trio: Inflation, energy, and economic structures
Nikolaos Rodousakis (KEPE), George Soklis