Monetary Policy Lessons from the Global Crisis
International Journal of Central Banking
Hosted by the Bank of Japan 16 and 17 September 2010
Programme
Thursday, 16 September 2010
| 8:15am | Registration and coffee |
| 8:45am | Welcome and Opening Remarks [18KB PDF] Wataru Takahashi, Director-General Institute for Monetary and Economic Studies, Bank of Japan |
| 9:00am | Keynote Address Masaaki Shirakawa, Governor, Bank of Japan (English / Japanese) |
| Session I: Unconventional Monetary Policies | |
| Chair: Carl Walsh (University of California, Santa Cruz), IJCB Co-Editor | |
| 9:30am | Paper #1: Large‐Scale Asset Purchases by the Federal Reserve: Did They Work? (Paper [272KB PDF]/ Slide [84KB PDF]) Presenters: Joseph Gagnon (Peterson Institute for International Economics) and Julie Remache (Federal Reserve Bank of New York) |
| 10:00am | Discussant: Tsutomu Watanabe (Hitotsubashi University) |
| 10:20am | Brief Q&A |
| 10:30am | Coffee Break |
| 11:00am | Paper #2: On the Quantitative Effects of Unconventional Monetary Policies (Paper [355KB PDF]) Presenters: Javier García-Cicco (Banco Central de Chile) |
| 11:30am | Discussant: Kosuke Aoki (London School of Economics) (Slide [51KB PDF]) |
| 11:50am | Brief Q&A |
| 12:00pm | Commentator: Lawrence Christiano (Northwestern University) (Slide [140KB PDF]) |
| 12:20pm | General Discussion |
| 1:00pm | Luncheon |
| Session II: Price Stability and Inflation Expectations | |
| Chair: Frank Smets (European Central Bank), IJCB Managing Editor | |
| 2:30pm | Paper #3: Did Easy Money in the Dollar Bloc Fuel the Global Commodity Boom? (Paper [289KB PDF]/ Slide [300KB PDF]) Presenter: Christopher Erceg (Federal Reserve Board) |
| 3:00pm | Discussant: Giancarlo Corsetti (European University Institute) |
| 3:20pm | Brief Q&A |
| 3:30pm | Coffee Break |
| 4:00pm | Paper #4: Did the Crisis Affect Inflation Expectations? (Paper [182KB PDF]) Presenter: Chen Zhou (De Nederlandsche Bank) |
| 4:30pm | Discussant: Shigenori Shiratsuka (Bank of Japan) (Slide [570KB PDF]) |
| 4:50pm | Brief Q&A |
| 5:00pm | Commentator: Fumio Hayashi (Hitotsubashi University) |
| 5:20pm | General Discussion |
| 6:00pm | Reception and Buffet Dinner |
Friday, 17 September 2010
| 8:30am | Coffee |
| Session III: Monetary Policy and Housing Booms | |
| Chair: Andrew Levin (Federal Reserve Board), IJCB Co-Editor | |
| 9:00am | Paper #5: The Effects of Housing Prices and Monetary Policy in a Currency Union (Paper [3,457KB PDF]/ Slide [715KB PDF]) Presenters: Oriol Aspachs-Bracons (Caixa d'Estalvis i Pensions de Barcelona) and Pau Rabanal (International Monetary Fund) |
| 9:30am | Discussant: Robert King (Boston University) |
| 9:50am | Brief Q&A |
| 10:00am | Paper #6: Risky Mortgages in a DSGE Model (Paper [436KB PDF]) Presenters: Chiara Forlati and Luisa Lambertini (École Polytechnique Fédérale de Lausanne) |
| 10:30am | Discussant: Tomoyuki Nakajima (Kyoto University) |
| 10:50am | Brief Q&A |
| 11:00am | Coffee Break |
| 11:30am | Commentator: John C. Williams (Federal Reserve Bank of San Francisco) |
| 11:50am | General Discussion |
| 12:30pm | Luncheon |
Session IV: Panel Discussion |
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| 2:00pm | Monetary Policy Lessons from the Global Crisis |
| Moderator: Ryuzo Miyao, Bank of Japan Participants: |
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| 3:45pm | Adjournment |
As of November 12, 2010