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The Federal Reserve Bank of San Francisco

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