On 29-30 September 2023, in Zurich, the Swiss National Bank (SNB) will hold a research conference on the challenges faced by central banks normalising monetary policy and their balance sheet.

The conference provides a forum for discussing a wide range of theoretical and empirical issues related to monetary policy. Some of the topics that contributions to the conference might address include (but are not restricted to):

  • Exit from unconventional measures
  • Central bank profits and losses
  • Size and composition of central bank balance sheets
  • International spillovers of quantitative tightening
  • Implications of normalisation for capital flows and global imbalances
  • Debt sustainability amidst global tightening of financial conditions
  • Normalisation and financial stability challenges
  • The effect of supply shocks in the short and long run
  • Structural determinants of inflation dynamics

Conference participants are invited to attend the lecture in the "Karl Brunner Distinguished Lecture Series" on 28 September 2023.

Those interested in presenting their work at this conference should email a PDF file with a draft or detailed abstract of their paper to the organising committee at [email protected] by 8 March 2023. Please mention whether or not you would like your paper to be also considered for a poster session. Authors of accepted papers will be notified by mid-April.

A conference volume will not be published. Transportation and accommodation expenses will be covered for presenters and discussants. Past conference programmes can be found at SNB Research Conference.

Organising Committee: Athanasios Orphanides (MIT), Carlos Lenz (Swiss National Bank), Pascal Towbin (Swiss National Bank) and Nicolas Cuche-Curti (Swiss National Bank).