Monetary Policy Conference
A conference to mark twenty years of Inflation Targeting
Sponsored by the
Reserve Bank of New Zealand and the Center for International Economics and
Development
Intercontinental Hotel, Grey Street, Wellington, New Zealand
PROGRAMME
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9.00 – 9.30 |
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Registration and Coffee |
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Morning Session Chair: |
John McDermott, Reserve Bank of New Zealand |
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9.30 – 9.45 |
Welcome |
Alan Bollard, Reserve Bank of New Zealand |
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9.45 – 10.45 |
Session One |
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Author |
When is the Government Spending Multiplier Large? (PDF 828KB) Lawrence Christiano, Martin Eichenbaum, and Sergio Rebelo, Northwestern University |
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Discussant |
John Leahy, New York University (10 mins) |
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10.45 – 11.00 |
Morning Coffee |
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11.00 – 12.00 |
Session Two |
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Author |
A Defence of the Federal Reserve Open Market Committee (FOMC) (PDF 965 KB) Thomas Sargent, New York University Presented by Craig Burnside, Duke University |
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Discussant |
Craig Burnside, Duke University (10 mins) |
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12.00 – 13.00 |
Session Three |
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Author |
A Model of Unconventional Monetary Policy (PDF 314 KB) Mark Gertler, and Peter Karadi, New York University |
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Discussant |
Robert Hall, Stanford University (10 mins) |
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13.00 – 14.30 |
Lunch |
InterContinental Hotel Mezzanine Floor |
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Afternoon Session Chair: |
Chris Kent, Reserve Bank of Australia |
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14.30 – 15.30 |
Session Four |
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Author |
Do Credit Constraints Amplify Macroeconomic Fluctuations? (PDF 363 KB) Tao Zha, Zheng Liu, Pengfei Wang, Federal Reserve Bank of Atlanta |
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Discussant |
Simon Gilchrist, Boston University (10 mins) |
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15.30 – 16.30 |
Session Five |
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Author |
On a Tractable Small Open Economy Model with Endogenous Monetary-policy Trade-offs (PDF 283 KB) Jaime Alonso-Carrera (Universidade de Vigo) and Timothy Kam, Australian National University |
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Discussant |
Christoph Thoenissen, University of St Andrews (10 mins) |
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16.30 – 16.45 |
Afternoon Coffee |
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16.45 – 17.45 |
Session Six |
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Author |
Long and Short Interest Rate Targets (PDF 183 KB) Bernardino Adao, Isabel Correia and Pedro Teles, Banco de Portugal |
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Discussant |
Pablo Andres Neumeyer, Torcuato Di Tella University (10 mins) |
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18.30 |
Reception |
InterContinental Hotel Mezzanine Floor |
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19.30 |
Dinner |
Invitation Only |
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Friday, 18 December, 2009 |
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9.15 – 09.30 |
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Coffee |
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Morning Session Chair: |
Bernard Hodgetts, Reserve Bank of New Zealand |
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9.30 – 10.30 |
Session Seven |
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Author |
Bailouts, Time Inconsistency and Optimal Regulation (PDF 198 KB) V. V. Chari and Patrick J. Kehoe, Federal Reserve Bank of Minneapolis |
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Discussant |
Timo Henckel, Australia National University (10 mins) |
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10.30 – 10.45 |
Morning Coffee |
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10.45 – 12.00 |
Session Eight |
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Key Note |
The High Sensitivity of Economic Activity to Financial Frictions (PDF 922 KB) Robert Hall, Stanford University |
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12.00 – 13.30 |
Lunch |
InterContinental Hotel Mezzanine Floor |
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Afternoon Session Chair: |
Lawrence Christiano, Northwestern University and CIED |
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13.30 – 14.30 |
Session Nine |
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Author |
Sunspots and Credit Frictions (PDF 234 KB) Sharon Harrison(Colimbia University) and Mark Weder, University of Adelaide |
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Discussant |
Martin Fukac, Reserve Bank of New Zealand (10 mins) |
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14.30 – 14.45 |
Afternoon Coffee |
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14.45 – 15.45 |
Session Ten |
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Author |
Inflation and the Natural Rate of Unemployment in US Business Cycles (PDF 435 KB) Nicolas Groshenny, Reserve Bank of New Zealand |
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Discussant |
Thomas Lubik, Federal Reserve Bank of Richmond (10 mins) |
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15.45 |
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Closing Comments |
Names listed in bold will be presenters at the conference.
