 I'm Simon Clark and I'm here in Cintra, Portugal, with the European Central Bank at the Forum on Central Banking. And I'm joined by Michel Gasebe, who is one of the joint winners of the Young Economist poster competition. And it's the first time that prize has been shared between you people, you and Nuno Clara. Michel, how are you feeling? Congratulations. Thanks a lot. How are you feeling? I'm feeling all right. It's been a tough couple of days, but I think I really enjoyed my time here. A lot of great people, a lot of great discussions. I'm really happy. I'm really happy. Yeah, well, I can imagine that. Well, can you explain in lay terms what did you present here? What was on your poster? Yes, so it was my first paper. It's about the link between monetary policy and supply chains. We're trying to understand how firms are interlinked with each other and how that interlinkage helps us understand monetary policy. Okay. I mean, why do you think it's important that people understand this? What is important about your field? Why should people care? Because I think it's something quite realistic for once. It's a very realistic feature of a lot of modern economies that banks, companies are interlinked by all sorts of means. Incorporating that empirically relevant feature into a model helps us understand something that is also realistic, namely, monetary policy. And this affects people's lives in a daily way. It's not just something that is an abstract concept. I mean, how is this going to affect people's everyday existence? To the extent to which monetary policy affects their existence. So when you think about your bank account, your savings, your pensions, your retirement plans, all of that is affected by monetary policy. And to understand how effective it is exactly, we should understand what are the channels of this transmission. And thinking about interlinkages is an important aspect of it. Okay. And then you've said that you've enjoyed the conference so far. I mean, what have you taken away from the experience of being here? There's still a lot to learn beyond my poster. And there'll be a big step between academic, economics, academic thinking, and real life policy, real life decisions that are way, way, way more complicated than solving a model. Even a difficult one. Okay. And then is there anything that you'd like to say to economics PhD students out there? And obviously, this is, must be a pretty high point in the PhD. What would you say to someone maybe who's just starting out in the field? It gets better. Then it gets worse. Then it gets better again. Okay. Thank you very much. That was all we had time for. Thank you for joining me and thank you for joining us on social media. You can read all the papers which were submitted to this competition on the ECB website. Thanks for your time.