FRB Conference on Key Developments in Monetary Economics

October 8-9, 2009 - Washington, DC


Thursday 8 October 2009
7:30am Continental Breakfast
8:45am Introductory Remarks
Benjamin Friedman and Michael Woodford
9:00am Session I (Chair: Michael Woodford, Columbia University)
The Mechanism Design Approach to Monetary Theory
(PDF 159 KB) | HTML
Neil Wallace
Discussant: Edward Green
10:00am Coffee Break
10:30am New Monetarist Economics (PDF 415 KB) | HTML
Stephen Williamson and Randall Wright
Discussant: Fernando E. Alvarez
11:30am Money and Inflation (PDF 690 KB) | HTML
Bennett T. McCallum and Edward Nelson
Discussant: Stephanie Schmitt-Grőhe
12:30pm Lunch Break
1:30pm Session II (Chair: Christopher Erceg, Division of International Finance)
Interactions Between Monetary and Fiscal Policy
Matthew B. Canzoneri, Robert E. Cumby, and Behzad Diba
Discussant: Maurice Obstfeld
2:30pm Microeconomic Evidence on Price-Setting (PDF 684 KB) | HTML
Peter J. Klenow and Benjamin A. Malin
Discussant: Martin S. Eichenbaum
3:30pm Coffee Break
4:00pm Session III (Chair: Andrew Levin, Division of Monetary Affairs)
How Has the Monetary Transmission Mechanism Evolved Over Time?
Jean Boivin, Michael T. Kiley, and Frederic S. Mishkin
Discussant: Ray C. Fair
5:00pm Financial Intermediation and Credit Policy in Business Cycle Analysis
Mark Gertler and Nobuhiro Kiyotaki
Discussant: Christopher J. Erceg
6:00pm Reception
7:00pm Dinner and Keynote Speech
Ben Bernanke, Chairman, Federal Reserve Board
Friday 9 October 2009
7:30am Continental Breakfast
8:45am Session IV (Chair: Michael Kiley, Division of Research and Statistics)
Rational Inattention and Monetary Economics
Christopher A. Sims
Discussant: Guiseppe Moscarini
9:45am Imperfect Information and Aggregate Supply
N. Gregory Mankiw and Ricardo Reis
Discussant: John V. Leahy
10:45am Coffee Break
11:15am Wanting Robustness to Misspecification
Lars P. Hansen and Thomas J. Sargent
Discussant: Robert J. Tetlow
12:15pm Lunch and Keynote Speech
Donald Kohn, Vice Chairman, Federal Reserve Board
1:30pm Session V (Chair: Benjamin M. Friedman, Harvard University)
Optimal Monetary Stabilization Policy
Michael Woodford
Discussant: V.V. Chari
2:30pm Simple and Robust Rules for Monetary Policy
John B. Taylor and John C. Williams
Discussant: Andrew T. Levin
3:30pm Coffee Break
4:00pm Credibility, Reputation and Discretionary Policy
Robert G. King
Discussant: Julio J. Rotemberg
5:00pm Adjournment