Follow us:
 
Subscribe to newsletter

The inflation hangover in public finances

Venue: Oesterreichische Nationalbank, Otto-Wagner-Platz 3, 1090 Vienna, Kassensaal, 1st floor and Webex - 2026-06-22

Registration

Monday, June 22, 2026, 11:30 am – 5:00 pm 

ORGANISED WITH THE AUSTRIAN FISCAL ADVISORY COUNCIL (FISKALRAT)

High inflation leaves lasting marks on public finances. This workshop brings together leading economists and policymakers to examine how recent inflation shocks affect government budgets, debt dynamics, and fiscal sustainability—and what policy responses are best suited to address these challenges. Join the discussion on lessons learned, long‑term impacts, and options for managing the fiscal situation in the wake of inflation.

Agenda

11:30 am Registration and buffet lunch 

12:30 – 12:45 am 

Welcome and opening remarks 

  • Christoph Badelt, President, Austrian Fiscal Advisory Council 

Scene setter: Cause and effect of high-inflation episodes 

  • Martin Kocher, Governor, Oesterreichische Nationalbank 

12:45 – 2:00 pm 

Session 1: Inflation shocks and public finances: stylized facts

  • Chair: Claudia Huber, Head of Department, Austrian Federal Economic Chamber, and Vice President, Austrian Fiscal Advisory Council 
  • Presentations: Dubravko Mihaljek, Former Senior Economist, Bank for International Settlements Clemens Jobst, Professor, University of Vienna 

2:00 – 3:15 pm 

Session 2: Long-term impact of major inflation shocks on public finances 

  • Chair: Margit Schratzenstaller, Senior Economist, Austrian Institute of Economic  Research (WIFO), and Member, Austrian Fiscal Advisory Council
  • Presentations: Philipp Rother, Head of Section, European Central Bank  Nicolas Carnot, Head of Secretariat, High Council of Public Finances, France  

3:15 – 3:45 pm Coffee Break

3:45 – 5:00 pm

Panel discussion: Optimal policy response to the recent high-inflation episode  

  • Chair: Wolf Heinrich Reuter, Director, Oesterreichische Nationalbank, and Member, Austrian Fiscal Advisory Council 

Presentation: Price interventions vs. transfers 

  • Alena Harrer-Bachleitner, Office of the Austrian Fiscal Advisory Council 

Panellists: 

  • Lilia Cavallari, President, Parliamentary Budget Office, Italy, and  Chair, European Independent Fiscal Institutions (EU IFI) Network 
  • Monika Köppl-Turyna, Director, EcoAustria 
  • Gabriel Felbermayr, Director, Austrian Institute of Economic Research (WIFO) 
  • Christoph Badelt, President, Austrian Fiscal Advisory Council