In the wake of an evolving macroeconomic landscape marked by events such as the global financial crisis, European sovereign debt crisis, Covid19 pandemic, geo-political risks, and climate change, a new macroeconomic regime is emerging. As challenges like potential inflation, government debt, limited fiscal space, productivity slowdown, green transition, and capital imbalances emerge, there is a compelling need for a collective re-evaluation of macroeconomic models by both academics and policymakers. The 2nd RISE Workshop is dedicated to addressing these critical issues. It brings together researchers that will enhance our understanding of the sources and the macroeconomic consequences of regime switches as well as the actions that policymakers can undertake to improve the stability and resilience of the economic system.
Top researchers presented their work in front of an esteemed audience for discussion, and these sessions have been archived on our YouTube Channel. We invite you to watch and share the content. You can find each presentation by clicking on its title, below and download the accompanying slides.
Print programme for 2nd RISE Annual Workshop and Course.pdf
2nd RISE Workshop Programme
Note: Presenters’ names are in bold
Day 1: July 25, 2024
| 08:15 – 08:45 (UTC+2) | Tea and Registration |
| 08:45 – 08:55 (UTC+2) | Opening Remarks: Guangling Liu: Professor of Economics at Stellenbosch University |
| 08:55 – 10:00 (UTC+2) | Session 1.1: Keynote I Chair: Dr. Francesca Loria, Federal Reserve Board and CEPR |
| “Does the Transmission of Monetary Policy Shocks Change When Inflation Is High?”
Presented by: Other authors: |
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| 10:00 – 10:15 (UTC+2) | Break |
| 10:15 – 11:15 (UTC+2) | Session 1.2: Methodological Innovations I Chair: Dr. Gianni Amisano, Federal Reserve Board |
| 10:15 – 10:45 (UTC+2) | “Flexible Priors and Restrictions for Structural Vector Autoregressions”
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Download Slides |
| 10:45 – 11:15 (UTC+2) | “A Unified Approach to Determinacy Conditions with Regime Switching”
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| 11:15 – 11:30 (UTC+2) | Break |
| 11:30 – 13:00 (UTC+2) | Session 1.3: Monetary Policy Strategies and Labor Market Dynamics Chair: Dr. Oleg Kirsanov, Adam Smith Business School, University of Glasgow |
| 11:30 – 12:00 (UTC+2) | Optimal QE and QT
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| 12:00 – 12:30 (UTC+2) | The Investment Channel of Monetary Policy: Evidence from Norway
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| 12:30 – 13:00 (UTC+2) | Search Frictions in Good Markets and CPI Inflation
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| 13:00 – 14:30 (UTC+2) | Lunch Break + Poster Session I |
| 14:30 – 16:00 (UTC+2) | Session 1.4: Fiscal Policies and Sovereign Defaults Chair: Dr. Roberto A. De Santis, ECB |
| 14:30 – 15:00 (UTC+2) | Fiscal Policy Regimes in Least Developed Countries
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| 15:00 – 15:30 (UTC+2) | Demand for Fiscal Policy in an Ageing Country
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| 15:30 – 16:00 (UTC+2) | The Geoeconomics of International Political Relations and Sovereign Defaults
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| 16:00 – 16:15 (UTC+2) | Break |
| 16:15 – 17:15 (UTC+2) | Session 1.5: Term Structure and Commodity Prices Chair: Dr. Munechika Katayama, Waseda University |
| 16:15 – 16:45 (UTC+2) | The Term Structure of Natural Rates of Interest
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| 16:45 – 17:15 (UTC+2) | Monetary Policy Response to Commodity Price Volatility in South Africa: A Regime-Switching Analysis
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Download Slides |
Day 2: July 26, 2024
| 08:15 – 08:50 (UTC+2) | Tea and Registration |
| 08:50 – 10:00 (UTC+2) | Session 2.1: Keynote II Chair: Junior Maih, Norges Bank |
| Fiscal Backing, Inflation and US Business Cycles
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| 10:00 – 10:15 (UTC+2) | Break |
| 10:15 – 11:15 (UTC+2) | Session 2.2: Climate Policy and Energy Economics Chair: Dr. Masashige Hamano, Waseda University, School of Political Science and Economics |
| 10:15 – 10:45 (UTC+2) | Climate Policy and Gender Inequality
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| 10:45 – 11:15 (UTC+2) | Energy Supply Shocks’ Nonlinearities on Output and Prices
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| 11:15 – 11:30 (UTC+2) | Break |
| 11:30 – 13:00 (UTC+2) | Session 2.3: Financial Stability, Market Frictions, and Energy Security Chair: Dr. Tatiana Kirsanova, University of Glasgow |
| 11:30 – 12:00 (UTC+2) | Navigating Geopolitical Crises for Energy Security: Evaluating Optimal Subsidy Policies via a Markov Switching DSGE Model
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| 12:00 – 12:30 (UTC+2) | Exploring the Euro Area Exposure to the Risk of Financial Fragmentation
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| 12:30 – 13:00 (UTC+2) | Beliefs for Sudden Stops and Current Account Reversals: An Analysis with a Regime Switching Small Open Economy Model
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| 13:00 – 14:30 (UTC+2) | Lunch Break + Poster Session 2 |
| 14:30 – 16:00 (UTC+2) | Session 2.4: Structural Reforms and Economic Growth Chair: Dr. Ruthira Naraidoo, University of Pretoria |
| 14:30 – 15:00 (UTC+2) | Searching for Flexibility: The Joint Impact of Thatcher’s Reforms of UK Labour and Housing Markets
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| 15:00 – 15:30 (UTC+2) | Mitigating the Impact of Fuel Subsidy Removal in an Oil-Producing Emerging Economy
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| 15:30 – 16:00 (UTC+2) | On Bayesian Filtering for Markov Regime Switching Models
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| 16:00 – 16:15 (UTC+2) | Break |
| 16:15 – 17:15 (UTC+2) | Session 2.5: Methodological Innovations II Chair: Dr. Gianni Amisano, Federal Reserve Board |
| 16:15 – 16:45 (UTC+2) | Cognitive Discounting in a Nonlinear World: Implications for Macroeconomic Dynamics
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Organising committee:
| Jean Barthelemy (Banque de France) | Christiane Baumeister (University of Notre Dame) |
| Francesco Bianchi (Johns Hopkins University) | Hilde Bjørnland (Norwegian Business School BI) |
| Jin Cao (Norges Bank) | Yoosoon Chang (Indiana University) |
| Yoseph Getachew (University of Pretoria) | Nigar Hashimzade (Brunel University) |
| Munechika Katayama (Waseda University) | Ryo Kato (Asia University) |
| Tatiana Kirsanova (University of Glasgow) | Mai Le (Cardiff Business School) |
| Guangling Liu (Stellenbosch University) | Junior Maih (Norges Bank) |
| Magali Marx (Banque de France) | Christian Matthes (Indiana University) |
| Masashige Hamano (Waseda University) | Francesca Loria (CEPR) |
| David Meenagh (Cardiff Business School) | Yasin Mimir (European Stability Mechanism) |
| Ruthira Naraidoo (University of Pretoria) | Harold Ngalawa (University of Kwa-Zulu Natal) |
| Shin-Ichi Nishiyama (Kobe University) | Juan Paez-Farrell (University of Sheffield) |
| Eric Schaling (Wits Business School) | Bob Tetlow (Federal Reserve Board) |
| Christian Tipoy (University of Kwa-Zulu Natal) | Nicola Viegi (University of Pretoria) |
| Daniel Waggoner (Emory University) |
Contact Information:
For any further information or if you have any questions, please send an email to Prof. Ruthira Naraidoo, Professor of Economics at the University of Pretoria: riseworkshop2024@gmail.com or phone: +27 825 514 765
We eagerly anticipate your valuable contributions to this enriching event, fostering collaborative insights into the challenges shaping our macroeconomic future.
Short Course Information
Building on the success of the inaugural RISE Workshop in Japan last year, this event will also feature a 3-day Short Course (July 22-24) in macro theory, computation, and estimation. Geared towards Masters, PhDs, and researchers in academia and policy circles, the course aims to deepen understanding and skills in these areas. You will have the opportunity to explore the latest advancements in the RISE Toolbox and harness its full potential. Limited spaces are available. We invite both South African and International applicants.
Instructors and topics:
- Introduction to RISE – Junior Maih (Norges Bank)
- Optimal Policy – Tatiana Kirsanova (University of Glasgow)
- Small Open Economy Models – Masashige Hamano (Waseda University, Japan)
- Small Open Economy with Commodities – Ruthira Naraidoo (University of Pretoria)
- Estimation of DSGE Models – Munechika Katayama (Waseda University, Japan)
- Structural VARs – Francesca Loria (CEPR)
Short Course Application Guidelines:
Applications for the Short Course have closed.
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