Friday March 26
7:45am |
Continental Breakfast |
8:45am |
Welcoming Remarks
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| Nathan Sheets, Director, Division of International Finance |
9:00am |
Session I (Chair: Gunter Coenen, European Central Bank)
The High Sensitivity of Economic Activity to Financial Frictions (PDF) | HTML |
| Author: |
Robert Hall (Stanford) |
| Discussant: |
Matteo Iacoviello (Board) |
10:00am |
Coffee Break |
10:30am |
The Central-Bank Balance Sheet as an Instrument of Monetary Policy |
| Authors: |
Vasco Curdia (FRB-NY) and Michael Woodford (Columbia) |
| Discussant: |
Oreste Tristani (ECB) |
11:30am |
Trusting the Bankers: A New Look at the Credit Channel of Monetary Policy (PDF) | HTML |
| Authors: |
Matteo Ciccarelli (ECB), Angela Maddaloni (ECB), and Jose-Luis Peydro (ECB) |
| Discussant: |
Benoit Mojon (Bank of France) |
12:30pm |
Lunch Break |
1:30pm
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Session II (Chair: David Reifschneider, Federal Reserve Board)
The Return of the Wage Phillips Curve (PDF) | HTML
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| Author: |
Jordi Gali (CREI) |
| Discussant: |
David Lopez-Salido (Board) |
2:30pm |
The Cyclical Behavior of the Price-Cost Markup |
| Authors: |
Chris Nekarda (Board) and Valerie Ramey (UCSD) |
| Discussant: |
Raf Wouters (National Bank of Belgium) |
3:30pm |
Coffee Break |
4:00pm |
Panel Discussion: Structural Economic Modeling: Is it Useful in the Policy Process?
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Moderator:
Steven Kamin (Federal Reserve Board)
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Panelists:
Olivier Blanchard, Chief Economist, International Monetary Fund
James Bullard, President, Federal Reserve Bank of St. Louis
Lucas Papademos, Vice President, European Central Bank |
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5:30pm |
Reception |
6:00pm |
Dinner and Keynote Speech
|
| Daniel Tarullo, Governor, Federal Reserve Board |
