Events

Inequality Hysteresis: how can central banks contribute to an equitable society?

Hosted by the International Inequalities Institute

Online and in-person public event (Hong Kong Theatre, Clement House)

Speakers

Dr Luiz Awazu Pereira da Silva

Dr Luiz Awazu Pereira da Silva

Dr Deniz Igan

Dr Deniz Igan

Dr Benoit Mojon

Dr Benoit Mojon

Chair

Professor Kirsten Sehnbruch

Professor Kirsten Sehnbruch

Growing economic inequality has become a matter of increasing public and policymaking concern in recent years. Some have argued that unconventional monetary policies aggravated this trend, by boosting asset valuations and wealth inequality. The debate is intensified by deep recessions related to the COVID-19 pandemic and resurgent food and energy inflation increasing cost of living in 2022, which unequally impact different groups within society. This event marks the launch of the book Inequality Hysteresis, which highlights a new facet of inequality: its persistence or ‘hysteresis’ after recessions.

The book shows how inequality increases faster and more persistently in the aftermath of recessions and how greater income inequality is associated with deeper recessions, increasing the risk of an adverse feedback loop. For their part, central banks can most effectively contribute to a more equitable society by deploying the necessary tools to deliver on their mandated objectives of price and economic stability. Our speakers highlight the importance of taking inequality into account when designing and implementing fiscal and monetary policy.

Meet our speakers and chair

Luiz Awazu Pereira da Silva is the Deputy General Manager of the Bank for International Settlements. Prior to that, he was Deputy Governor at the Central Bank of Brazil, and served as Deputy Finance Minister, at the Ministry of Finance and as Chief Economist of the Ministry of Budget and Planning. He has also worked at the World Bank and, in Japan, at the Institute of Fiscal and Monetary Policy of the Ministry of Finance and the Japan Bank for International Cooperation (JBIC).

Deniz Igan is Head of Macroeconomic Analysis at the Bank for International Settlements. She has held several positions at the International Monetary Fund, such as the Chief of the Systemic Issues Division in the Research Department and co-editor of IMF Research Perspectives. She is a research fellow at the Centre for Economic Policy Research, and a fellow in the European University Institute School of Transnational Governance Policy Leaders Program. She holds a PhD from Princeton University.

Benoit Mojon is Head of Economic Analysis at the Bank for International Settlements. Before joining the BIS, he worked at the Bank of France. He was Head of the Monetary Policy Division from 2008 to 2011, then became Director of Monetary and Financial Studies and a member of the Eurosystem Monetary Policy Committee. He has held research positions at the Federal Reserve Bank of Chicago and the European Central Bank. He holds a PhD in economics from the University of Paris Nanterre.

Kirsten Sehnbruch is a British Academy Global Professor and a Distinguished Policy Fellow at the International Inequalities Institute at the London School of Economics and Political Science. Previously, she was a Research Fellow at the Universidad de Chile, Director of the Institute for Public Policy at the Universidad Diego Portales (Chile), and a Lecturer at the University of California, at Berkeley.

More about this event

This event forms part of LSE’s Understanding the UK Economy series, showcasing research and expertise on the state of the UK economy and its future.

The International Inequalities Institute (@LSEInequalities) at LSE brings together experts from many of the School's departments and centres to lead cutting-edge research focused on understanding why inequalities are escalating in numerous arenas across the world, and to develop critical tools to address these challenges.

Twitter Hashtag for this event: #LSEUKEconomy

LSE Blogs

Many speakers at LSE events also write for LSE Blogs, which present research and critical commentary accessibly for a public audience. Follow British Politics and Policy, the Business Review, the Impact BlogEuropean Politics and Policy and the LSE Review of Books to learn more about the debates our events series present.

Live captions

Automated live captions will be available at this webinar. Once you join the Zoom webinar, you will be able to show or hide the subtitles by clicking on the “Live Transcript - CC” button, from where you can also change the font size and choose to view the full transcript. Please note that this feature uses Automatic Speech Recognition (ASR) technology, or machine generated transcription, and is not 100% accurate.

Photography

Photographs are regularly taken at LSE events both by LSE staff and members of the media. Photographs from events taken by LSE staff are often used on LSE's social media accounts.

Podcasts

We aim to make all LSE events available as a podcast subject to receiving permission from the speaker/s to do this, and subject to no technical problems with the recording of the event. Podcasts are normally available 1-2 working days after the event. Podcasts and videos of past events can be found online.

Social Media

Follow LSE public events on Twitter for notification on the availability of an event podcast, the posting of transcripts and videos, the announcement of new events and other important event updates. Event updates and other information about what’s happening at LSE can be found on the LSE's Facebook page and for live photos from events and around campus, follow us on Instagram. For live webcasts and archive video of lectures, follow us on YouTube

LSE in Pictures is a selection of images taken by the school photographer.

Accessibility

If you are planning to attend this event and would like details on how to get here and what time to arrive, as well as on accessibility and special requirements, please refer to LSE Events FAQ.  LSE aims to ensure that people have equal access to these public events, but please contact the events organiser as far as possible in advance if you have any access requirements so that arrangements, where possible, can be made. If the event is ticketed, please ensure you get in touch in advance of the ticket release date. Access Guides to all our venues can be viewed online.

WIFI Access

LSE has now introduced wireless for guests and visitors in association with 'The Cloud', also in use at many other locations across the UK. If you are on campus visiting for the day or attending a conference or event, you can connect your device to wireless. See more information and create an account at Join the Cloud.
Visitors from other participating institutions are encouraged to use eduroam. If you are having trouble connecting to eduroam, please contact your home institution for assistance.
The Cloud is only intended for guest and visitor access to wifi. Existing LSE staff and students are encouraged to use eduroam instead.
From time to time there are changes to event details so we strongly recommend that if you plan to attend this event you check back on this listing on the day of the event.

This event will be streamed live on YouTube.

Twitter

LSE Events LSEpublicevents

RT @o_rutazibwa: ✨🎓2 of my favourite peoples on this planet are coming to LSE next week! Prof Grovogui will deliver the @LSEHumanRights Ann…

7 hours ago

Reply Retweet Favorite

LSE Events LSEpublicevents

RT @LSEIRDept: 🚨TODAY! What role do diplomatic apologies, joint military exercises, gift giving, global summits and other iconic rituals…

10 hours ago

Reply Retweet Favorite

  Sign up for news about events