daily routines. these perceptions shape our expectations for future inflation. when asked about future inflation, women place a greater focus on perceived food price inflation than men, who care more about the price developments of transportation 2 / 3 bis - central bankers'speeches and housing. 5 while central bankers - are generally aware of this " gender expectations gap ", ecb staff – in a recent blog – pointed to a need to gain a better understanding of how consumers form and update their inflation expectations. this, they concluded, would not only enhance the analysis of the macroeconomic implications of monetary policy decisions. it would also bolster the credibility of central banks, especially when accompanied by a differentiated communication strategy. 3 conclusion ladies and gentlemen, policymakers base their decisions on economic indicators. those indicators reflect specific values and perceptions. therefore, it is crucial to involve a diverse group of people. so, what is the role of hr in this regard? i see three tasks : to be aware of the benefits of diversity to convince your internal clients of those benefits of diversity and to implement your strategy of diversity in real life. let us start! 1 to be precise : " market value of all final user goods and services produced domestically during a time period ". 2 this is also the central theme of carney, mark ( 2021 ) " value ( s ) – building a better world for all public affairs ". 3 for an empiricial analysis, see d'acunto, francesco, malmendier, ulrike and weber, michael ( 2021 ) gender roles produce divergent economic expectations, proc natl acad sci u s a. 2021 may 25 ; 118 4 women are more likely to report food shopping as their main responsibility ; see flagg lee anne, sen bisakha, kilgore meredith l., locher julie l. the influence of gender, age, education and household size on meal preparation and food shopping responsibilities. public health nutr. 2014 sep ; 17 5 see di nino, virginia, kolndrekaj, aleksandra and meyler, aidan ( 2022 ) what drives inflation expectations of women and men? ecb blog ( europa. eu ) 3 / 3 bis - central bankers'speeches

sabine mauderer : gender economics speech by dr sabine mauderer, member of the executive board of the deutsche bundesbank, at the g7 cebadi diversity, equality and inclusion summit 2022, frankfurt am main, 4 november 2022. * * * 1 introduction dear central banking colleagues, dear guests, a very warm welcome from me, too. i am very proud that the bundesbank is hosting this year's central bank - hr diversity, equality and inclusion summit. it goes without saying that diversity matters for any institution. and for central banks in particular, as they act on behalf of the wider public. i would like to start today's talk by showing you a photograph of the ecb's governing council. this photo was taken during an informal gathering at a country house hotel outside frankfurt about three years ago. let's take a look. here you can see a group of mostly middle - aged, white european men sitting around a large table. there is also one woman at the table, president lagarde. so, what can we deduce from this? first, decisions are taken by a group. that is positive by itself, because ideally the decision - making process should reflect the different values and perceptions of all members. however, the group appears to lack diversity. true, a person's outer appearance can be deceptive. it does not necessarily tell you anything about his or her value set or perceptions. nevertheless, it is widely acknowledged that diverse teams – - be it in terms of gender, ethnicity or thought – produce a wider range of opinions, leading to better and more robust results. it is also widely acknowledged that a more diverse decision - making body better reflects the blend of values and perceptions of a democratic society. 2 main part what i would like to show you today is that values and perceptions can influence precisely those economic indicators that dominate our decision - making. i will elaborate this point with two examples, starting with the concept of gross domestic product, or gdp. how do we measure economic activities? how do we value them? and what does that tell us about our value structure? as a second example, i would like to show you that humans differ in the way they perceive changes in price developments. 2. 1 gdp 1 / 3 bis - central bankers'speeches undoubtedly, gdp is one of the most prominent economic indicators. it measures most of a country's output 1 of goods and services over a certain period.