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- The Second Annual Fall Conference of the International Journal of Central Banking hosted by the Bank of Japan (September 2010)
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