Federal Reserve Bank of San Francisco

Economic Research

Monetary Policy, Transparency, and Credibility

March 23 - March 24, 2007

Agenda Download (PDF – 41KB)

Conference Summary

Agenda

Friday, March 23

 
8:10 A.M. Continental Breakfast
 
8:50 A.M. Welcoming Remarks:
Janet Yellen, Federal Reserve Bank of San Francisco

Morning Session Chair: John Williams, Federal Reserve Bank of San Francisco

9:00 A.M. The Limits of Transparency (PDF – 261KB)
Presenter:
Alex Cukierman, Tel-Aviv University
Discussants:
Petra Geraats, University of Cambridge
Hyun Song Shin, Princeton University
 
10:30 A.M. Break
 
11:00 A.M. Banking and Interest Rates in Monetary Policy Analysis: A Quantitative Exploration (PDF – 754KB)
Presenters:
Marvin Goodfriend, Carnegie-Mellon University
Bennett McCallum, Carnegie-Mellon University
Discussants:
Stephen Cecchetti, Brandeis University
Huw Pill, European Central Bank
 
12:30 P.M. Lunch — Market Street Dining Room, Fourth Floor
 
Afternoon Session Chair: Richard Dennis, Federal Reserve Bank of San Francisco

2:00 P.M. Monetary Policy and its Informative Value (PDF – 250KB)
Presenter:
Romain Baeriswyl, Ludwig-Maximilians Universität & Credit Suisse
Camille Cornand, BETA – Strasbourg Louis Pasteur University
Discussants:
George-Marios Angeletos, Massachusetts Institute of Technology
Christian Hellwig
, University of California, Los Angeles
 
3:30 P.M. Break
 
4:00 P.M. Three Great American Disinflations (PDF – 355KB)
Presenter: Michael Bordo, Rutgers University
Christopher Erceg, Andrew Levin, Federal Reserve Board
Ryan Michaels, University of Michigan
Discussants: Gauti Eggertsson, Federal Reserve Bank of New York
John Taylor, Stanford University
 
5:30 P.M. Reception — West Market Street Lounge, Fourth Floor
6:30 P.M. Dinner — Market Street Dining Room, Fourth Floor
Introduction: Janet Yellen, Federal Reserve Bank of San Francisco
Speaker: Frederic Mishkin, Federal Reserve Board
 

Saturday, March 4

 
8:00 A.M. Continental Breakfast
 
Morning Session Chair: Glenn Rudebusch, Federal Reserve Bank of San Francisco

8:45 A.M. Central Bank Communication and Expectations Stabilization (PDF – 113KB)
Presenters: Stefano Eusepi, Federal Reserve Bank of New York
Bruce Preston, Columbia University
Discussants: Michael Ehrmann, European Central Bank
Athanasios Orphanides, Federal Reserve Board
 
10:15 A.M. Break
 
10:30 A.M. Welfare-Maximizing Monetary Policy under Parameter Uncertainty (PDF – 299KB)
Presenter: Rochelle Edge, Thomas Laubach, Federal Reserve Board
John Williams, Federal Reserve Bank of San Francisco
Discussants: Christopher Sims, Princeton University
Ulf Söderström, Università Bocconi
 
12:00 P.M. Lunch – Market Street Dining Room, Fourth Floor
 
1:00 P.M. Adjourn