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2015 BOJ-IMES Conference:
Monetary Policy: Its Effects and Implementation

June 4 – 5, 2015
Institute for Monetary and Economic Studies, Bank of Japan

Summary (English / Japanese)

- Program -

Thursday, June 4, 2015

9:00 Opening Session
Chairperson: Kenichirou Watanabe,
Bank of Japan
Opening Remarks: Haruhiko Kuroda,
Bank of Japan
(English / Japanese)
9:20 Session 1: Forward Guidance and Asset Prices (Paper, Updated version is available as DPS)
Chairperson: Mehmet Yörükoğlu,
Central Bank of the Republic of Turkey
Paper Presenter: Jonathan Wright,
Johns Hopkins University
Discussant: Jan Marc Berk,
De Nederlandsche Bank

  General Discussion  
10:15 Coffee Break  
10:35

Session 2: On the International Spillovers of US Quantitative Easing (Paper, Updated version is available as DPS)
Chairperson: Kazuo Momma,
Bank of Japan
Paper Presenter: Roland Straub,
European Central Bank
Discussant: Kei-Mu Yi,
Federal Reserve Bank of Minneapolis
  General Discussion  
11:30 Session 3: Money Markets and Monetary Policy (Paper1*, Updated version is available as DPS / Paper2*)
* Link to the New York Fed website
Chairperson: Anne Le Lorier,
Banque de France
Paper Presenter: James J. McAndrews,
Federal Reserve Bank of New York
Discussant: Eli Remolona,
Bank for International Settlements
  General Discussion  
12:25 Lunch  
14:00 Policy Panel Discussion
Moderator: Takatoshi Ito,
Columbia University
National Graduate Institute for Policy Studies
Panelists: Stephen G. Cecchetti,
Brandeis International Business School
Marvin Goodfriend,
Carnegie Mellon University
Ravi Menon,
Monetary Authority of Singapore
Hiroshi Nakaso,
Bank of Japan
Lucas Papademos,
Bank of Greece

15:30 Coffee Break
15:50 Policy Panel Discussion
  General Discussion  
17:30 Conference Dinner

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Friday, June 5, 2015

9:15 Session 4: Maturity Structure and Supply Factors in Japanese Government Bond Markets (Paper, Updated version is available as DPS)
Chairperson: Kazuo Ueda,
University of Tokyo
Paper Presenter: Ichiro Fukunaga,
Bank of Japan
Discussant: Christopher J. Waller,
Federal Reserve Bank of St. Louis
  General Discussion  
10:15 Coffee Break
10:45 Session 5: A Model of Secular Stagnation (Paper, Updated version is available as DPS)
Chairperson: Jean-Luc Schneider,
Organisation for Economic Co-operation and Development
Paper Presenter: Neil R. Mehrotra,
Brown University
Discussant: Michael Dotsey,
Federal Reserve Bank of Philadelphia
  General Discussion  
11:45 Coffee Break
11:55 Mayekawa Lecture (Available as MES)
Chairperson: Woon Gyu Choi,
Bank of Korea
Lecturer: Barry Eichengreen,
University of California, Berkeley
  Q&A  
13:00 Adjournment

Lunch (optional)

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