The New Normal for Monetary Policy
Friday, March 27, 2015
Federal Reserve Bank of San Francisco
101 Market Street
San Francisco, CA 94105
Morning Session Chair: Sylvain Leduc, Federal Reserve Bank of San Francisco
8:00 a.m. | Continental Breakfast |
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8:40 a.m. | Welcoming Remarks |
John Williams, President, Federal Reserve Bank of San Francisco |
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8:45 a.m | Financial Stability and Optimal Interest-Rate Policy |
Andrea Ajello, Federal Reserve Board Discussants: Download paper (pdf, 688 kb) |
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10:00 a.m. | Break |
10:30 a.m. | A Macroeconomic Framework for Quantifying Systemic Risk |
Zhiguo He, University of Chicago, Booth School of Business Discussants: Download paper (pdf, 573 kb) |
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11:45 a.m. | Lunch – Market Street Dining Room, Fourth Floor |
Introduction: John Williams, President, Federal Reserve Bank of San Francisco Speaker: Janet Yellen, Chair, Federal Reserve Board |
Afternoon Session Chair: Òscar Jordà, Federal Reserve Bank of San Francisco
1:45 p.m. | Forward Guidance and Heterogeneous Beliefs |
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Philippe Andrade, Banque de France Discussants: Download paper (pdf, 495 kb) |
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3:00 p.m. | Break |
3:15 p.m. | Stagnation Traps |
Gianluca Benigno, London School of Economics Discussants: Download paper (pdf, 448 kb) |
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4:30 p.m. | Break |
4:45 p.m. | An Economical Business-Cycle Model |
Pascal Michaillat, London School of Economics Discussants: Download paper (pdf, 584 kb) |
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6:00 p.m. – 7:45 p.m. | Reception – First Floor |