- When: 15-16 December 2025
- Where: University of Sydney
They primary objective in organising this annual conference was to provide a platform where international academics could gather, interact, and exchange their latest insights in Banking, Financial system stability, and other topics within the traditional and emerging fields of Finance. By facilitating this forum, the event aimed to prioritise collaborative endeavours to address the most pressing and contemporary issues concerning banking and financial stability. Furthermore, it aspired to contribute to public policy discussions on enhancing our collective framework and fortifying the financial system’s resilience for the future.
by Thuy Hang Duong
Supervisory panel: Warwick McKibbin, Renee Fry-McKibbin, Larry Liu
Discussant: Khresna Satriyo
- When: 11 am–12:15 pm, Friday 12 December 2025
- Where: Miller Theatre and Zoom Link: Meeting ID: 889 6498 4041; Password: 612222
The amplified macroeconomic shocks following the freeze in global credit markets during the 2008–09 Global Financial Crisis made clear that financial-market stabilisation is integral to macroeconomic stability. Understanding macro–financial interactions is therefore essential for managing systemic risk and achieving policy objectives. This paper examines how such interactions shape the anchoring of inflation expectations, a key channel of monetary-policy transmission. Using state-dependent local projections with Kitagawa–Blinder–Oaxaca decompositions, we estimate the responses of U.S. consumer inflation expectations to financial shocks from 1990 to 2024 across monetary stances and forecast horizons. Three findings emerge. First, financial shocks affect expectations asymmetrically: loosening raises short-term expectations more persistently and significantly than tightening lowers them. Second, monetary stance conditions transmission strength—contractionary policies amplify demand-side reactions, while expansionary policies dampen them. Policy effectiveness in anchoring expectations is also itself asymmetric, more effective in response to adverse financial conditions than easing.
Third, conditioning on the monetary policy stance reveals substantial heterogeneity across expectation percentiles, both in the magnitude and the direction of their responses. These results show that financial disturbances transmit to inflation expectations in nonlinear, state-dependent, and distributionally heterogeneous ways, underscoring the need to integrate financial-stability considerations into modern monetary frameworks.
Crawford PhD Seminar: Dominant currencies and financial channel of exchange rate: Is export growth elusive?
By Abyaya Neopane
Supervisory panel: Yixiao Zhou (Chair), Ligang Song, Renée Fry-McKibbin
Discussant: Banna Banik
- When: 11 am–12:15 pm, Wednesday 10 December 2025
- Where: Miller Theatre and Zoom Link: Meeting ID: 889 6498 4041; Password: 612222
The outsized role of the USD in international trade and finance has prompted a reassessment of how global markets are interconnected. On the trade front, the dominant currency paradigm argues that exchange rate depreciation has a muted effect on exports; however, while this is true from the demand side, exports can increase through the supply side. Exploring this claim, I find supporting evidence at the product-extensive margin. Additionally, as trade relies heavily on finance, credit availability and exports are interlinked. By capturing the foreign currency exposure of banks, I find that when the net foreign asset is positive, an appreciation attenuates exports while a depreciation has an augmenting effect only for lower levels of exposure. This asymmetry is associated with the global financial cycle. Furthermore, by examining the variation in financial dependence of products, I demonstrate how the financial channel dampens the trade channel of the exchange rate.
- When: 4 December 2025
- Where: University of Auckland
This workshop aimed to bring together leading scholars and policymakers from New Zealand and abroad to discuss how global economic integration is being reshaped by strategic competition, industrial policy, and shifts in trade, finance, and climate governance. The programme featured sessions on the geoeconomics of the new world order, strategic industrial policy, macro-financial spillovers, and the geopolitics of trade, climate, and critical minerals. Each session opened with brief presentations followed by a moderated roundtable discussion under the Chatham House Rule. Speakers were leading academics and policymakers from New Zealand, including the former Governor of the Reserve Bank of New Zealand. The event was sponsored by the Sir Douglas Myers Foundation, the Centre for Inclusive Capitalism at the University of Auckland, and the Centre for Applied Macroeconomic Analysis (CAMA) at the Australian National University. Register here.
- When: 19-21 November 2025
- Where: Monash University
Monash Business School hosted the 10th Workshop of the Australasian Macroeconomics Society (WAMS) in Melbourne from the 19th to the 21st of November 2025. The event focused on macroeconomics — encompassing theoretical, empirical, and policy-oriented perspectives. Keynote speakers included
- When: 11-12 November 2025
- Where: Kuala Lumpur, Malaysia
As economic challenges grow in complexity, there is a rising demand for robust economic modelling tools to support policymaking. This workshop aimed to equip central bankers with practical insights and applications of frontier economic and econometric models relevant to monetary and financial stability policy. Designed as an immersive introduction, the workshop offered participants a broad exposure to diverse empirical methodologies, highlighting their strengths, limitations, and practical applications. This workshop also served as a strategic primer—a chance to explore the landscape of modern modelling approaches and how they could support evidence-based policymaking. The programme brought together leading scholars and practitioners to demonstrate models such as the G-Cubed model, structural VAR, and Computable General Equilibrium (CGE) approaches. Applications included trade and tariff scenarios, climate-related risks, and regional integration frameworks. The workshop was complemented by case-based discussions and opportunities for one-on-one engagement with experts. The workshop was conducted by SEACEN faculty and invited experts from academia and policymaking institutions, including Prof. Warwick McKibbin and Prof. Renee Fry-McKibbin. More Information here.
- When: 8:30 PM - 9:30 PM Eastern Time (New York/Washington, DC), Thursday, November 6, 2025
- Where: Online
IMF invited students, graduates, and economists from the Australian and Oceania Region to join our Virtual Information Session on November 6 at 8:30 PM Eastern Time (New York/Washington, DC) to learn more about our recruitment opportunities for undergraduates, graduates, and senior-level economists. They had detailed information on recruitment programs at the IMF, IMF careers, paths to success as an interviewee and an introspective view of the organization by IMF economists. The session included live Q&A with participants. IMF welcomed students of all levels and majors, although the majority of information will be of most interest to students of economics.
Register here: [Registration Link]
- When: 30-31 October 2025
- Where: University of Melbourne
The annual Melbourne Macro Policy Meeting gathered academics and researchers in policy institutions, and policy analysts to discuss the latest research and thinking about macroeconomic issues and policies. This event was co-hosted by the Department of Economics and the Melbourne Institute. This year our theme is: "Macroeconomic policy and global uncertainty". Please view the program here.
Title: Professional Survey Forecasts and Expectations in DSGE Models
by Sergey Slobodyan, Yuliya Rychalovska and Raf Wouters
- When: 11:00 – 12:30, Thursday, October 30, 2025
- Where: Fred Gruen Economics Seminar Room (H.W. Arndt Bldg 25A)
Abstract: This paper investigates the connection between the predictability of forecast errors and the expectations formation mechanism. We show that in a simple model of NK Phillips curve with Adaptive Learning a variety of under- and over-prediction patterns is possible, including the switch as in Angeletos et al. (2020), depending on the information set used by the agents for forecasting. We then investigate whether the expectations of the estimated model of Rychalovska et al. (2023) under adaptive learning could replicate the time varying patterns of predictability observed in a variety of SPF variables. Finally, we compare and contrast two expectations formation mechanisms, Diagnostic Expectations and Adaptive Learning, and argue that AL could mimic DE in a state-dependent manner.
- When: 28 October 2025
- Where: Melbourne Business School, University of Melbourne
The Melbourne Institute, in partnership with the Academy of the Social Sciences in Australia, hosted a Flash Forum on Trump Tariffs and Global Markets on Tuesday 28 October. The event was moderated by ABC Finance presenter Alan Kohler and feature expert speakers each presenting for five minutes, followed by a Q&A session. Speakers included Professor Allan Fels, Eliza Chaney, Distinguished Professor Renée Fry-McKibbin, Professor Giancarlo Corsetti, Professor Matthew Greenwood-Nimmo, Professor Michael Wesley. Dr Sunny Kim Nguyen and Emeritus Distinguished Professor Warwick McKibbin. This was a hybrid event, with the in-person component held at the University of Melbourne from 11:00 am to 12:30 pm. More information on the forum can be viewed on the event webpage.
- When: 23-25 October 2025
- Where: Gold Coast, Australia
Consilium was back for its 24th edition in October 2025. Over 3 days, leaders of business, politics, academia and the wider community are drawn together for intensive deliberation on major economic, social and cultural issues facing Australia. The conference promoted free choice, individual liberty, defends cultural freedom, and the open exchange of ideas which exemplified the CIS mission. It debated a wide range of policy ideas and intellectual arguments to help Australia remain a prosperous and free nation. See all 2025 speakers.
- When: 3-5 October 2025
- Where: New Delhi
The Institute of Economic Growth (IEG) organised the 4th Kautilya Economic Conclave (KEC 2025) under the theme “Seeking Prosperity in Turbulent Times.” The three-day event (3–5 October 2025, New Delhi) brought together global experts and policymakers, concluding with reflections by the External Affairs Minister. Union Finance Minister Nirmala Sitharaman inaugurated the conclave on 3 October 2025. Emeritus Distinguished Professor Warwick McKibbin participated as a panel member in the interactive session “Navigating Geopolitical Turbulence for Asian Growth” on 4 October 2025.
- When: 13-14 September 2025
- Where: The University of Tokyo
The University of Tokyo hosted the 1st Workshop of the East and South-East Asia Macroeconomic Society on 13-14 September 2025. Keynote speakers included Eric Swanson (University of California, Irvine) and Michael Zheng Song (Chinese University of Hong Kong). Visit the event site for more details.
- Speaker: Emeritus Distinguished Professor, Warwick McKibbin
- Organiser: The Society of Government Economists
- When: Wednesday, September 17, 2025 12:00 p.m. – 1:30 p.m. E.T.
- Where: Zoom webinar
This seminar presented an overview of how tariffs affect macroeconomic activity, inflation, sectoral output, employment, and the trade balance in the United States and globally. It focused on both trade and financial effects of tariff policy. Drawing on recently published research from the Peterson Institute of International Economics, utilizing the G-Cubed multi-country model, the seminar presented quantitative estimates of how the global trade and financial systems would be likely to adjust in response to the tariff war between the US and its trading partners.