Financial Markets and the Real Economy in a Low Interest Rate Environment
June 1-2, 2006
Institute for Monetary and Economic Studies
Bank of Japan
- Program -
Thursday, June 1, 2006
| Opening Session | |
| Chairperson: | Kazumasa Iwata Bank of Japan |
| Opening Remarks: | Toshihiko Fukui Bank of Japan ([47KB PDF]) <Japanese version ([28KB PDF])> |
| Keynote Speeches: | Bennett T. McCallum Carnegie Mellon University ([131KB PDF]) Maurice Obstfeld University of California at Berkeley ([111KB PDF]) |
| Session 1 on "Financial Market Functioning and Monetary Policy:Japan's Experience"([582KB PDF]) | |
| Chairperson: | Hiroshi Nakaso Bank of Japan |
| Paper Presenter: | Naohiko Baba Bank of Japan |
| Discussants: | David Longworth Bank of Canada Anthony Richards Reserve Bank of Australia |
| Session 2 on "The Bond Yield 'Conundrum' from a Macro-Finance Perspective"([371KB PDF]) | |
| Chairperson: | Kiyohiko Nishimura Bank of Japan |
| Paper Presenter: | Glenn Rudebusch Federal Reserve Bank of San Francisco |
| Discussants: | Carsten Detken European Central Bank Kenneth Kuttner Oberlin College |
| Session 3 on "Interpreting Recent Changes in the Credit Spreads of Japanese Banks"([335KB PDF]) | |
| Chairperson: | Ulrich Kohli Swiss National Bank |
| Paper Presenter: | Kenneth Singleton Stanford University |
| Discussants: | Hung Tran International Monetary Fund Kazuo Ueda University of Tokyo |
Friday, June 2, 2006
| Session 4 on "The Mistake of 1937: A General Equilibrium Analysis"([443KB PDF]) | |
| Chairperson: | Eiji Hirano Bank of Japan |
| Paper Presenter: | Gauti Eggertsson Federal Reserve Bank of New York |
| Discussants: | Andrew Filardo Bank for International Settlements Kunio Okina Bank of Japan |
| Session 5 on "The Great Moderation and the US External Imbalance"([219KB PDF]) | |
| Chairperson: | Jose Luis Malo de Molina Banco de Espana |
| Paper Presenter: | Fabrizio Perri New York University |
| Discussants: | Hans Genberg Hong Kong Monetary Authority Aviram Levy Banca d'Italia |
| Concluding panel on "Financial Markets and the Real Economy in a Low Interest Rate Environment"([409KB PDF]) | |
| Chairperson: | Stefan Ingves Sveriges Riksbank |
| Panelists: | Christine Cumming Federal Reserve Bank of New York Lucrezia Reichlin European Central Bank Masaaki Shirakawa Bank of Japan Bennett T. McCallum Carnegie Mellon University Maurice Obstfeld University of California at Berkeley |
As of June 2, 2006