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International Research Forum on Monetary Policy

Venue and date: European Central Bank, Frankfurt Room C IV, 5 and 6 July 2002

Announcement

A new transatlantic dialogue the International Research Forum on Monetary Policy – is being organised and sponsored by the European Central Bank, the Board of Governors of the Federal Reserve System, the Center for German and European Studies at Georgetown University and the Center for Financial Studies at Goethe University. Its aim is to provide occasions to discuss new research on theoretical and empirical aspects of monetary policy that are relevant from a global perspective.

The Forum will meet regularly at locations alternating between the euro area and the United States. The next meeting will be held in Washington D.C on 14 and 15 November 2003.

Organisers:
Ignazio Angeloni ( Ignazio.Angeloni@ecb.int ),
Matt Canzoneri ( Canzonem@georgetown.edu ),
Dale Henderson ( Hendersd@frb.gov ),
Axel Weber ( Weber@ifk-cfs.de )

List of participants: pdf 373 kB, en

Contact:
Susana Sommaggio ( Susana.Sommaggio@ecb.int )

Map of Frankfurt: pdf 992 kB, en

Friday, 5 July 2002

08:30

Coffee
09:00

Opening address: President W. Duisenberg (European Central Bank) ( Opening address text )
Remarks: Governor E. Gramlich (Federal Reserve Board) ( pdf 16 kB, en )
09:30

Chair: Governor E. Gramlich (Federal Reserve Board)

A. Sutherland (University of St. Andrews): "International Policy Coordination and Financial Market Integration" (  pdf 483 kB, en )

Discussant: P. Pesenti (Federal Reserve Bank of New York) (  pdf 52 kB, en )
Discussant: A. Levin (Federal Monetary Reserve Board) (  pdf 9 kB, en )
10:45

Coffee break
11:30

S. Gilchrist (Boston University), J.O Hairault and H. Kempf (Université Paris-1 Pantheon-Sorbonne): "Financial Integration in a Monetary Union" (  pdf 1.4 MB, en )

Discussant: P. Lane (Trinity College Dublin) (  pdf 22 kB, en )
Discussant: E. Faia (New York University) (  pdf 67 kB, en )
12:45

Lunch
14:00

Chair: M. Canzoneri (Georgetown University)

G. Corsetti (University of Rome III) and L. Dedola (Banca d'Italia): "Macroeconomics of International Price Discrimination" ( pdf 939 kB, en )

Discussant: C. Engel (University of Wisconsin) ( pdf 24 kB, en )
Discussant: D. Henderson (Federal Reserve Board)
15:15

P. Bacchetta (Study Center Gerzensee) and E. van Wincoop (University of Virginia): "Currency Denomination of International Trade" ( pdf 451 kB, en )

Discussant: C. Detken (European Central Bank) ( pdf 451 kB, en )
Discussant: P. Storgaard (Danmarks Nationalbank) ( pdf 20 kB, en )
16:30

Coffee-break
17:00

P. Benigno (New York University) and D. Lopez-Salido (Banco de España): "Inflation Persistence and Optimal Monetary Policy in the Euro Area" (  pdf 634 kB, en )

Discussant: N. Batini (Bank of England) (  pdf 98 kB, en )
Discussant: R. Tetlow (Federal Reserve Board) (  pdf 47 kB, en )
18:15

Conference adjourns
19:00

Dinner

Speaker: Prof. O. Issing (European Central Bank) ( Speech text )

Saturday, 6 July 2002

08:15

Coffee
08:45

Chair: V. Gaspar (European Central Bank)

C. Erceg and A. Levin (Federal Reserve Board): Optimal Monetary Policy and Durable/Non-durable Goods Prices (  pdf 602 kB, en )

Discussant: E. Nelson (Bank of England) (  pdf 15 kB, en )
Discussant: F. Ghironi (Boston College) (  pdf 104 kB, en )
10:00

Coffee-break
10:30

M. Duarte and A. Wolman (Federal Reserve Bank of Richmond): "Regional Inflation in a Currency Union: Fiscal Policy versus Fundamentals" (  pdf 895 kB, en )

Discussant: T. Monacelli (Boston College) (  pdf 290 kB, en )
Discussant: C. Tille (Federal Reserve Bank of New York) (  pdf 15 kB, en )
11:45

G. Coenen (European Central Bank) and V. Wieland (J.W. Goethe-University of Frankfurt): "Inflation Dynamics and International Linkages: A Model of the United States, the Euro Area and Japan" (  pdf 754 kB, en )

Discussant: I. Mihov (INSEAD) (  pdf 141 kB, en )
Discussant: B. McCallum (Carnegie-Mellon University) (  pdf 121 kB, en )
13:00

Lunch

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