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2009 International Conference:
Financial System and Monetary Policy Implementation
May 27 - 28, 2009
Institute for Monetary and Economic Studies,
Bank of Japan
- Program -
Wednesday, May 27, 2009
| Opening Session | |
| Chairperson: | Kiyohiko G. Nishimura, Bank of Japan |
| Introductory Speech: | Masaaki Shirakawa, Bank of Japan (English / Japanese) |
| Keynote Speeches: | Bennett T. McCallum, Carnegie Mellon University Topic: The Role of 'Determinacy' in Monetary Policy Analysis Maurice Obstfeld, University of California at Berkeley Topic: Lenders of Last Resort in a Globalized World |
| Session 1: Liquidity, Business Cycles, and Monetary Policy(PDFfile:439KB) | |
| Chairperson: | Wataru Takahashi, Bank of Japan |
| Paper presenter: | Nobuhiro Kiyotaki, Princeton University |
| Discussant: | Zheng Liu, Federal Reserve Bank of San Francisco |
| Discussant: | Marianne Nessen, Sveriges Riksbank |
| Coffee Break | |
| Session 2: Segmentation in the U.S. Dollar Money Markets During the Financial Crisis(PDFfile:1,024KB) | |
| Chairperson: | John Murray, Bank of Canada |
| Paper presenter: | James J. McAndrews, Federal Reserve Bank of New York |
| Discussant: | Katrin Assenmacher, Swiss National Bank |
| Discussant: | Shin-ichi Fukuda, University of Tokyo |
| Lunch | |
| Session 3: A Financial System Perspective on Japan's Experience in the Late 1980s(PDFfile:514KB) | |
| Chairperson: | Shigenori Shiratsuka, Bank of Japan |
| Paper presenter: | Masazumi Hattori, Bank of Japan, Hyun Song Shin, Princeton University, and Wataru Takahashi, Bank of Japan |
| Discussant: | Grant Spencer, Reserve Bank of New Zealand |
| Discussant: | Tsutomu Watanabe, Hitotsubashi University |
| Session 4: The Procyclical Effects of Bank Capital Regulation(PDFfile:411KB) | |
| Chairperson: | Shigenori Shiratsuka, Bank of Japan |
| Paper presenter: | Javier Suarez, Centro de Estudios Monetariosy Financieros |
| Discussant: | Haibin Zhu, Bank for International Settlement |
| Discussant: | Christopher Kent, Reserve Bank of Australia |
| Coffee Break | |
| Session 5: Credit Risk and the Macroeconomy: Evidence from an Estimated DSGE Model(PDFfile:453KB) | |
| Chairperson: | Hans Genberg, Hong Kong Monetary Authority |
| Paper presenter: | Simon Gilchrist, Boston University |
| Discussant: | Todd Clark, Federal Reserve Bank of Kansas City |
| Discussant: | Tomoyuki Nakajima, Kyoto University |
| Adjournment | |
Thursday, May 28, 2009
| Session 6: Central Banking in the Credit Turmoil(PDFfile:76KB) | |
| Chairperson: | David Altig, Federal Reserve Bank of Atlanta |
| Paper presenter: | Marvin Goodfriend, Carnegie Mellon University |
| Discussant: | Frank Smets, European Central Bank |
| Discussant: | Hiroshi Ugai, Bank of Japan |
| Coffee Break | |
| Policy Panel Discussion | |
| Chairperson: | Kazuo Ueda, University of Tokyo |
| Panelists: | Jaime Caruana, Bank for International Settlement Donald L. Kohn, Board of Governors of the Federal Reserve System Paul Tucker, Bank of England Hiroshi Nakaso, Bank of Japan |
| Adjournment | |
Please note that attendance is by invitation only.
As of May 25, 2009