Federal Reserve Bank of San Francisco

Economic Research

Structural Change and Monetary Policy

March 3 - March 4, 2000

Structural Change and Monetary Policy

Federal Reserve Bank of San Francisco
Stanford Institute for Economic Policy Research

Federal Reserve Bank of San Francisco
March 3 & 4, 2000

Conference Summary

Agenda

Friday, March 3
4th Floor Central Conference Room

Morning Session Chair: JACK BEEBE, Federal Reserve Bank of San Francisco
8:00 A.M. Continental Breakfast
8:55 A.M.
Welcoming Remarks: ROBERT PARRY, President,
Federal Reserve Bank of San Francisco
9:00 A.M. MARGARET McCONNELL, Federal Reserve Bank of New York
GABRIEL PEREZ QUIROS, European Central Bank
Output Fluctuations in the United States: What Has Changed Since the Early 1980s? (PDF – 361 KB)
Discussant: CHARLES NELSON, University of Washington, Written Comments
10:00 A.M. Break
10:15 A.M. STEPHEN OLINER, Board of Governors of the Federal Reserve
DANIEL SICHEL, Board of Governors of the Federal Reserve
The Resurgence of Growth in the Late 1990s: Is Information Technology the Story? (PDF – 148 KB)
Discussant: ROBERT GORDON, Northwestern University
11:15 A.M. Break
11:30 A.M.
Panel: Recent Changes in Trend and Cycle
Discussants: CHAD JONES, Stanford University, Discussion (PDF – 99 KB)
JOHN TAYLOR, Stanford University, Discussion (PDF – 48 KB)
MARK WATSON, Princeton University, Discussion (PDF – 598 KB)

 

Officers’ Dining Room
12:45 P.M. Lunch
4th Floor Central Conference Room
Afternoon Session Chair: JOHN TAYLOR, Stanford University
2:00 P.M. KEVIN LANSING, Federal Reserve Bank of San Francisco
Learning About a Shift in Trend Output: Implications for Monetary Policy and Inflation (PDF – 215 KB)
Discussants: JAMES BULLARD, Federal Reserve Bank of St. Louis
JOHN LEAHY, Boston University
3:30 P.M. Break
4:00 P.M. LAURENCE BALL, Johns Hopkins University
Near-Rationality and Inflation in Two Monetary Regimes (PDF – 126 KB)
Discussants: JEFFREY FUHRER, Federal Reserve Bank of Boston, Written Comments (PDF – 49 KB)
MARK GERTLER, New York University
Market Street Lounge
5:30 P.M. Reception
6:30 P.M. Dinner
Introduction: ROBERT PARRY, Federal Reserve Bank of San Francisco
Speaker: LAURENCE MEYER, Governor, Federal Reserve Board, Structural Change and Monetary Policy
Saturday, March 4
4th Floor Central Conference Room

Morning Session Chair: GLENN RUDEBUSCH, Federal Reserve Bank of San Francisco
8:00 A.M. Continental Breakfast
8:45 A.M. ERIC SWANSON, Board of Governors of the Federal Reserve
On Signal Extraction and Non-Certainty Equivalence in Optimal Monetary Policy Rules (PDF – 340 KB)
Discussants: BENNETT McCALLUM, Carnegie-Mellon University, Written Comments (PDF – 34 KB)
FRANK SMETS, European Central Bank
10:15 A.M. Break
10:30 A.M. LARS SVENSSON, Stockholm University
MICHAEL WOODFORD, Princeton University
Indicator Variables for Monetary Policy (PDF – 274 KB)
Discussants: JAMES HAMILTON, University of California, San Diego, Written Comments (PDF – 73 KB)
FREDERIC MISHKIN, Columbia University
12:00 P.M. Buffet Lunch