1. Home>
  2. Conferences>
  3. 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


Thursday, 16 September 2010

8:15am Registration and coffee
8:45am Welcome and Opening Remarks
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/ Slide)
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)
Presenters: Javier García-Cicco (Banco Central de Chile)
11:30am Discussant: Kosuke Aoki (London School of Economics) (Slide)
11:50am Brief Q&A
12:00pm Commentator: Lawrence Christiano (Northwestern University) (Slide)
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/ Slide)
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)
Presenter: Chen Zhou (De Nederlandsche Bank)
4:30pm Discussant: Shigenori Shiratsuka (Bank of Japan) (Slide)
4:50pm Brief Q&A
5:00pm Commentator: Fumio Hayashi (Hitotsubashi University)
5:20pm General Discussion
6:00pm Reception and Buffet Dinner

↑Page Top

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/ Slide)
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)
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

2:00pm Monetary Policy Lessons from the Global Crisis
  Moderator: Ryuzo Miyao, Bank of Japan

Stephen Cecchetti, Bank for International Settlements (Slide)
John Murray, Bank of Canada
Francesco Papadia, European Central Bank (Slide)
Lars Svensson, Sveriges Riksbank (Slide/ Slide Speech)
John B. Taylor, Stanford University (Slide/ Slide Speech)

3:45pm Adjournment

As of November 12, 2010

↑Page Top