2021 Jacques Polak Annual Research Conference
Toward an Inclusive and Resilient Recovery
November 4-5, 2021
Managing Director Kristalina Georgieva opens the 22nd IMF Annual Research Conference.
The International Monetary Fund will hold the 22nd Jacques Polak Annual Research Conference virtually on November 4-5, 2021.
It is over a year since the onset of the COVID-19 pandemic and there remains tremendous uncertainty around the evolution of the pandemic. Much depends on the outcome of the ongoing race between a mutating virus and multiple vaccines, and on the ability of policies to provide effective support until we are past this health crisis. After a historic collapse in the first half of 2020, the global economy has partially recovered but prospects diverge dramatically across and within countries. The inequity in access to vaccines, the wide disparities in fiscal space across countries, and structural differences can exacerbate these divergences.
In this context, the 2021 IMF Annual Research Conference will focus on strategies to bring about a resilient recovery by boosting growth and reducing inequality across and within countries. Resilience will require policies to support growth and restore confidence, including the appropriate fiscal-monetary policy mix, addressing the debt overhang, and mitigating the negative impact on employment and income distribution. The conference will bring together academics and policy makers, foster innovative research, and provide a platform for a fruitful exchange of views.
Managing Director Kristalina Georgieva opens the 22nd IMF Annual Research Conference.
Agenda
Thursday, November 4, 2021 |
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9:00–9:15 am |
Opening Remarks—Kristalina Georgieva (Managing Director, IMF) |
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9:15–10:45 am |
Chair: Antonio Spilimbergo (Deputy Director, Research Department, IMF) COVID-19 Vaccination and Financial Frictions in Emerging Markets COVID-19 Vaccines: A Shot in Arm for the Economy |
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10:45–11:00 am |
***Coffee Break*** |
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11:00–12:00 pm |
A conversation between Gita Gopinath (Economic Counsellor and Director, Research Department, IMF) and Raghuram Rajan (University of Chicago, Booth School of Business) |
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12:00–1:30pm |
Chair: Vitor Gaspar (Director, Fiscal Affairs Department, IMF) A Goldilocks Theory of Fiscal Policy The Fiscal and Welfare Effects of Policy Responses to the Covid-19 School Closures |
| 1:30–2:00 pm | ***Lunch Break*** |
| 2:00–4:00 pm |
Session 3: Distributional Impacts of the Pandemic Chair: Petya Koeva Brooks (Deputy Director, Research Department, IMF) Macroeconomic Effects of COVID-19 Across the World Income Distribution A Macroeconomic Model of Healthcare Saturation, Inequality and the Output-Pandemia Tradeoff The Expected, Perceived, and Realized Inflation of U.S. Households before and during the COVID19 Pandemic |
| 4:00–4:15 pm | ***Coffee Break*** |
| 4:15–5:30 pm |
Pierre-Olivier Gourinchas (S.K. and Angela Chan Professor of Management, University of California, Berkeley) Introduction by Gita Gopinath (Economic Counsellor and Director, Research Department, IMF) |
Friday, November 5, 2021 |
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| 9:00–10:00 am |
Panel Discussion: Uncertainty and Restoring Confidence Following the Pandemic Moderator: Martin Wolf (Financial Times) Panelists: |
| 10:00–10:30 am | ***Coffee Break*** |
| 10:30–12:30pm |
Chair: Changyong Rhee (Director, Asia and Pacific Department, IMF) Production Networks and Firm-level Elasticities of Substitution Supply Shocks in Supply Chains: Evidence from the Early Lockdown in China The Transmission Mechanisms of International Business Cycles: Output Spillovers through Trade and Financial Linkages |
| 12:30–1:30 pm | ***Lunch Break*** |
| 1:30–3:00 pm |
Session 5: Mitigation Policies Chair: Tobias Adrian (Financial Counsellor and Director, Monetary and Capital Markets Department, IMF) The Effectiveness of Job-Retention Schemes: COVID-19 Evidence from the German States
The Distribution of Crisis Credit: Effects on Firm Indebtedness and Aggregate Risk |
| 3:00 pm | Closing Remarks |
Conference Organizing Committee: Emine Boz (IMF, Co-Editor of the IMF Economic Review), Andrei Levchenko (Editor-in-Chief of the IMF Economic Review and the University of Michigan), Prachi Mishra (IMF, Co-Editor of the IMF Economic Review), and Joannes Mongardini (IMF, Deputy Division Chief, Research Department).
Conference Coordinators: Tracey Lookadoo and Ariana Tayebi
Disclaimer: This web page contains links to papers that will be presented at the 22nd Jacques Polak Annual Research Conference (ARC). The views expressed in these papers are those of the authors only, and the presence of them, or of links to them, on the IMF website does not imply that the IMF, its Executive Board, or its management endorses or shares the views expressed in the papers.