Conference
International Research Forum on Monetary Policy
Ninth Conference
European Central Bank, Frankfurt am Main, 18 - 19 March 2016
Press centre, room C5.01
The International Research Forum on Monetary Policy (IRFMP) is organising its 9th conference which will be held at the European Central Bank in Frankfurt on 18-19 March 2016.
The purpose of the IRFMP is to promote the discussion of innovative research on theoretical and empirical macroeconomic issues relevant for monetary policy.
It is sponsored by the Euro Area Business Cycle Network (EABCN), the European Central Bank (ECB), the Federal Reserve Board (FRB), and the Georgetown Center for Economic Research (GCER) at Georgetown University.
Attendance is upon invitation only. The conference will be held in English.
Programme
Friday, 18 March 2016
* indicates the presenter
- 8:30
- Registration and coffee
-
Session 1 The conduct of monetary policy
- 9:00
-
The forward guidance puzzle
Marco Del Negro*, Marc Giannoni (Federal Reserve Bank of New York) and Christina Patterson (Massachusetts Institute of Technology)
Paper, PresentationDiscussant: Jesper Lindé (Sveriges Riksbank)
Discussion - 10:00
-
What does anticipated monetary policy do?
Stefania D'Amico* and Thomas King (Federal Reserve Bank of Chicago)
Paper, PresentationDiscussant: Stefano Neri (Banca d'Italia)
Discussion - 11:00
- Coffee break
- 11:30
-
The systematic component of monetary policy in SVARs: an agnostic identification procedure
Jonas Arias* and Dario Caldara (Federal Reserve Board) and Juan Rubio-Ramírez (Duke University)
Paper, PresentationDiscussant: Raffaella Giacomini (University College London)
Discussion - 12:30
-
Measuring the non-linear effects of monetary policy
Régis Barnichon (Universitat Pompeu Fabra) and Christian Matthes* (Federal Reserve Bank of Richmond)
Paper, PresentationDiscussant: Luca Sala (Università Bocconi)
Discussion - 13:30
- Buffet lunch
-
Session 2 Monetary policy, uncertainty, and inflation expectations
- 14:30
-
Endogenous volatility at the zero lower bound: implications for stabilization policy
Susanto Basu* (Boston College) and Brent Bundick (Federal Reserve Bank of Kansas City)
Paper, PresentationDiscussant: Sebastian Schmidt (European Central Bank)
Discussion - 15:30
-
Unconventional fiscal policy, inflation expectations, and consumption expenditure
Francesco D'Acunto (University of Maryland), Daniel Hoang (Karlsruher Institut für Technologie) and Michael Weber* (University of Chicago)
Paper, PresentationDiscussant: Michael Haliassos (Goethe-Universität)
Discussion - 16:30
- Coffee break
- 17:00
-
Panel discussion – Completing Europe's Economic and Monetary Union
Chair: Frank Smets (European Central Bank)
Panellists:
Giancarlo Corsetti (University of Cambridge)
Vítor Gaspar (International Monetary Fund)
Francesco Giavazzi (Università Bocconi)
Athanasios Orphanides (Massachusetts Institute of Technology) - 19:30
-
Dinner
Keynote speech
James Bullard, President and Chief Executive Officer of the Federal Reserve Bank of St. Louis
Speech
Saturday, 19 March 2016
* indicates the presenter
- 8:30
- Registration and coffee
-
Session 3 International dimensions of monetary policy
- 9:00
-
If the Fed sneezes, who catches a cold?
Luca Dedola* and Livio Stracca (European Central Bank)
Giulia Rivolta (Università degli Studi di Brescia)
Paper, PresentationDiscussant: John Rogers (Federal Reserve Board)
Discussion - 10:00
-
Liquidity traps, capital flows
Sushant Acharya (Federal Reserve Bank of New York) and Julien Bengui* (Université de Montréal)
Paper, PresentationDiscussant: Roland Straub (European Central Bank)
Discussion - 11:00
- Coffee break
- 11:30
-
Macroeconomic policy games
Martin Bodenstein (National University of Singapore), Luca Guerrieri* (Federal Reserve Board) and Joe LaBriola (University of California at Berkeley)
Paper, PresentationDiscussant: Giovanni Lombardo (Bank for International Settlements)
Discussion - 12:30
- Buffet lunch
-
Session 4 Policies to address the long-run consequences of crises
- 13:30
-
Expectations, stagnation and fiscal policy
George Evans (University of Oregon), Seppo Honkapohja* (Suomen Pankki – Finlands Bank) and Kaushik Mitra* (University of Birmingham)
Paper, PresentationDiscussant: Athanasios Orphanides (Massachusetts Institute of Technology)
Discussion - 14:30
-
Insider-outsider labor markets, hysteresis and monetary policy
Jordi Galí* (Universitat Pompeu Fabra)
Paper, PresentationDiscussant: Andrew Levin (Dartmouth College)
Discussion - 15:30
- End of conference
General information
European Central Bank
Main building, Press centre, room C5.01
Sonnemannstrasse 20
60314 Frankfurt am Main
+49 69 1344 0
[email protected]
Klaus Adam (Universität Mannheim and Euro Area Business Cycle Network)
Günter Coenen (European Central Bank)
Christopher Erceg (Federal Reserve Board)
Matthew Canzoneri (Georgetown University and Georgetown Center for Economic Research)
Participants are requested to arrange their own transfers.
Ms Iris Bettenhäuser
Directorate General Research
Monetary Policy Research Division
+49 69 1344 8782
[email protected]
Ms Jutta Auth
Directorate General Communications
Outreach Division
+49 69 1344 7417
[email protected]
Please note that this programme may be subject to change without notice.