"Exchange rate strategies for developed open economies in the new millennium"

Reserve Bank of New Zealand Workshop | Final programme schedule for exchange rate | Papers | Workshop participants | Contact details

Reserve Bank of New Zealand Workshop held on 19 February 2002

The purpose of this workshop is to consider the properties of exchange rate regimes, institutional choices regarding different exchange rate regimes, and other policy choices that may affect the behaviour of exchange rates.

These issues are to be considered in the context of developed open economies. In such economies the exchange rate, and implicitly the exchange rate regime, can have a material effect on both aggregate output and prices (via exchange rate pass-through). In turn, these macroeconomic quantities are intimately related to the monetary policy framework and monetary policy within each framework.

The papers in this workshop seek to address facets of these issues, with particular emphasis on the implications for policy.

Final programme schedule for exchange rate strategies for developed open economies in the new millennium

Tuesday 19 February 2002, 2nd floor Seminar Room, Reserve Bank of New Zealand

Morning session chaired by David Archer
9.00am	Opening remarks by Rod Carr, Deputy Governor, Reserve Bank of New Zealand
9.15am	Anne-Marie Brook, Reserve Bank of New Zealand
	"Exchange rate strategies for small open developed economies such as New Zealand" (PDF 170KB)
9.30am	Professor Peter B Kenen, Princeton University
	"Currency unions and policy domains"
10.10am	Discussant - Dr Marion Kohler, Reserve Bank of Australia
10.20am	General discussion

10.30am	Morning tea

10.50am	Dr Frank Smets, European Central Bank
	"Openness, imperfect exchange rate pass-through and monetary policy," (PDF 180KB)
11.30am	Discussant - Dr Weshah Razzak, Reserve Bank of New Zealand
11.40am	General discussion

12.00pm	Lunch

Afternoon session chaired by Dr Arthur Grimes
1.30pm	Dr Ingvild Svendsen, Bank of Norway
	"Experiences and future challenges for a small oil-producing country" To download the powerpoint presentation
2.10pm	Discussant - Michael Reddell, Reserve Bank of New Zealand
2. 20pm	General discussion
2.30pm	Professor Takatoshi Ito, Hitotsubashi University
	"Is foreign exchange intervention effective? The Japanese experiences in the 1990s" (PDF 69KB)
	Figures and tables (PDF 77KB)
3.10pm	Discussant - Kelly Eckhold, Reserve Bank of New Zealand
3.20pm	General discussion

3.30pm	Afternoon tea

3.45pm	Dr Malin Adolfson, Swedish Riksbank
	"Optimal monetary policy delegation under incomplete exchange rate pass-through"
4.25pm	Discussant - Chris Plantier, Reserve Bank of New Zealand
4.35pm	General discussion
4.45pm	Rapporteur's remarks, Dr Malcolm Edey, Assistant Governor, Reserve Bank of Australia
4.55pm	Closing remarks

7.00pm	Dinner - Turnbull Café

Papers

Nils Bjorksten and Anne-Marie Brook:

Exchange rate strategies for small open developed economies such as New Zealand (PDF 170KB)

Professor Peter Kenen:

Currency unions and policy domains

Professor Takatoshi Ito:

Is foreign exchange intervention effective? The Japanese experiences in the 1990s (PDF 69KB)
Figures and tables (PDF 77KB)

Dr Frank Smets:

Openness, imperfect exchange rate pass-through and monetary policy, (PDF 180KB)

Dr Malin Adolfson:

Optimal monetary policy delegation under incomplete exchange rate pass-through

Ingvild Svendsen:

Experiences and future challenges for a small oil-producing country
To download the powerpoint presentation for Experiences and future challenges for a smail oil-producing country

Workshop participants

Speakers

Professor Takatoshi Ito, Hitotsubashi University
Professor Peter B Kenen, Walker Professor of Economics and International Finance, Princeton University
Dr Frank Smets, European Central Bank
Dr Malin Adolfson, Swedish Riksbank
Dr Ingvild Svendsen, Bank of Norway

Contact details

Nils Bjorksten

Reserve Bank of New Zealand
2 The Terrace
PO Box 2498
Wellington, New Zealand

Email:bjorkstenn@rbnz.govt.nz
Telephone: 64 4-471-3620
Fax: 64 4-473-1209