MONETARY POLICY AT THE ZERO LOWER BOUND

December 12, 2011 at 2:40 pm | Posted in Economics, Financial, Globalization, History, Research, USA | Leave a comment

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  • Post-Conference Materials
  • Conference Summary
  • http://www.frbsf.org/economics/conferences/1102/agenda.php#tab1
  • MONETARY POLICY AT THE ZERO LOWER BOUND

    FEDERAL RESERVE BANK OF SAN FRANCISCO

    FEBRUARY 25, 2011

    Agenda

    Morning Session Chair: Glenn Rudebusch, Federal Reserve Bank of San Francisco
    8:10 A.M. Continental Breakfast
    8:50 A.M. Welcoming Remarks
    9:00 A.M. Stefania D’Amico, Board of Governors of the Federal Reserve
      Thomas B. King, Board of Governors of the Federal Reserve
      Flow and Stock Effects of Large-Scale Treasury Purchases
      Conference Presentation
      James D. Hamilton, University of California, San Diego
      Jing (Cynthia) Wu, University of California, San Diego
      The Effectiveness of Alternative Monetary Policy Tools in a Zero Lower Bound Environment
      Conference Presentation
       
      Arvind Krishnamurthy, Northwestern University and NBER
      Annette Vissing-Jorgensen, Northwestern University, NBER and CEPR
      The Effects of Quantitative Easing on Long-Term Interest Rates
      Conference Presentation
    10:00 A.M. Break
    10:25 A.M. Discussants: Gregory Duffee, Johns Hopkins University
        Tsutomu Watanabe, Hitotsubashi University
        Monika Piazzesi, Stanford University
        Discussion of QE papers (Duffee)
        Discussion of QE Papers (Piazzesi)
    11:10 A.M. General Discussion
    12:00 P.M. Lunch – Market Street Dining Room, Fourth Floor
     
    Afternoon Session Chair: Eric Swanson, Federal Reserve Bank of San Francisco
    1:15 P.M. Gauti Eggertsson, Federal Reserve Bank of New York
      Paul Krugman, Princeton University
      Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minksy-Koo Approach
      Conference Presentation
      Discussants: Martin Eichenbaum, Northwestern University
        Robert Hall, Stanford University
        Discussion of “Debt, Deleveraging and the Liquidity Trap” (Eichenbaum)
        Discussion of Debt, Deleveraging, and the Liquidity Trap” (Hall)
    2:35 P.M. Break
    2:50 P.M. Charles Brendon, Exeter College, Oxford
      Matthias Paustian, Bank of England
      Tony Yates, Bank of England
      Optimal Conventional and Unconventional Monetary Policy in the Presence of Collateral Constraints and the Zero Bound
      Discussants: Lawrence Christiano, Northwestern University
        Carl Walsh, University of California, Santa Cruz
        Discussion of: “Optimal conventional and unconventional monetary policy in the presence of collateral constraints and
    the zero bound” (Christiano)
        Comments on “Optimal conventional and unconventional monetary policies in the presence of collateral constraints and the zero bound”by Brendon, Paustian and Yates. (Walsh)
    4:10 P.M. Break
    4:25 P.M. Hess Chung, Board of Governors of the Federal Reserve
      Jean-Philippe Laforte, Board of Governors of the Federal Reserve
      David Reifschneider, Board of Governors of the Federal Reserve
      John C. Williams, Federal Reserve Bank of San Francisco
      Have We Underestimated the Probability of Hitting the Zero Lower Bound?
      Conference Presentation
      Discussants: Christopher Sims, Princeton University
        Lars E. O. Svensson, Sveriges Riksbank
        Comment on: Have We Underestimated the Likelihood and Severity of Zero Lower Bound Events? (Sims)
        Comments on Chung, Laforte, Reifschneider, and Williams, ”Have We Underestimated the Likelihood and Severity of Zero Lower Bound Events?” (Svensson)
    5:45 P.M. Reception – West Market Street Lounge, Fourth Floor
    6:30 P.M. Dinner – Market Street Dining Room, Fourth Floor
      Speaker: Charles Evans, Federal Reserve Bank of Chicago

    MONETARY POLICY AT THE ZERO LOWER BOUND

    FEDERAL RESERVE BANK OF SAN FRANCISCO

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