Monday, 29 and Tuesday, 30 October 2018
Main Building, Press room
Frankfurt am Main
Massimo Rostagno, European Central Bank
This session focuses on the interplay between monetary policy and financial markets. In particular, it will shed light on how financial market information can help to measure and interpret monetary policy actions, and it will assess how standard and non-standard monetary policy measures are transmitted via the term structure of interest rates and other asset prices.
Chair: Hans-Joachim Klöckers, European Central Bank
Hyun Song Shin, Bank for International Settlements
Session chair: Oreste Tristani, European Central Bank
Discussant: Michael McMahon, University of Oxford
Thomas King, Federal Reserve Bank of Chicago
Discussant: Lena Mareen Boneva, European Central Bank
Gregory R. Duffee, Johns Hopkins University
Discussant: Emanuel Mönch, Deutsche Bundesbank
This session focuses on the interplay between monetary policy and developments in credit aggregates and the banking system from both a microeconomic and a macroeconomic perspective. In particular, it analyses the bank lending channel of monetary policy – with a focus on loans, lending rates and funding conditions – and the transmission of monetary policy via banks, including the interaction with microprudential and macroprudential policies.
Chair: Natacha Valla, European Central Bank
Harald Uhlig, University of Chicago
Session chair: Cornelia Holthausen, European Central Bank
Discussant: Enrico Sette, Banca d’Italia
Discussant: Sascha Steffen, Frankfurt School of Finance & Management
Discussant: Ester Faia, Goethe University Frankfurt
Dinner – by invitation only
Tobias Adrian, International Monetary Fund
Christopher A. Sims, Princeton University
This session reviews the extent to which the main monetary policy paradigms developed by academics and policy institutions prior to the crisis would need to be revised in the light of measures taken by central banks to address the crisis and the evidence on how the economy responded to these measures. In particular, this session will cover issues related to the relevance of the Neo-Fisherian perspective, the transmission mechanism, determinants of the natural rate, unconventional measures and heterogeneity.
Chair: Frank Smets, European Central Bank
Ricardo Reis, London School of Economics
Session chair: Massimo Rostagno, European Central Bank
Discussant: Philippe Andrade, Banque de France
Stephanie Schmitt-Grohé, Columbia University
Discussant: Florin Bilbiie, University of Lausanne
Gauti Eggertsson, Brown University
Discussant: Martin Ellison, University of Oxford
Chair: Peter Praet, European Central Bank
End of conference
* indicates the presenter
Please note that this programme may be subject to change without notice.
European Central Bank
Main building, Press room
60314 Frankfurt am Main
Participants are requested to arrange their own transfers, unless indicated otherwise.
all European Central Bank