Preconference Reception*
Thursday, November 13, 2003
8:00 p.m. -- 10:00 p.m.
State Plaza Hotel, 2117 E Street, N.W., Washington, D.C. |
| |
| Day 1: Friday, November 14, 2003 |
| 8:30 a.m. |
Continental breakfast |
| 9:00 a.m. |
Welcome
Alan Greenspan,
Chairman
Board of Governors of the Federal Reserve System |
| 9:15 a.m. |
Session 1: Information and Learning |
| Chair: |
Volker Wieland |
| | The Great Inflation of the 1970s (200 KB PDF) |
| Authors: |
F. Collard,
University of Toulouse
H. Dellas,
University of Bern |
| Discussants: |
M. Spagat,
University of London
A. Levin,
Federal Reserve Board |
| 10:30 a.m. |
Coffee break |
| 11:00 a.m. |
The Decline of Activist Stabilization Policy: Natural Rate Misperceptions, Learning, and Expectations (182 KB PDF) |
| Authors: |
A. Orphanides, Federal Reserve Board
J. Williams,
Federal Reserve Bank of San Francisco |
| Discussants: |
A. Cukierman,
Tel Aviv University
V. Gaspar,
European Central Bank |
| 12:15 p.m. |
Lunch* |
| 1:15 p.m. |
Speaker
Otmar Issing,
Member
Executive Board of the European Central Bank |
| 2:00 p.m. |
Session 2:
Monetary and Fiscal Policy |
| Chair: |
Matthew Canzoneri |
| | Optimal Monetary and Fiscal Policy: A Linear-Quadratic Approach (440 KB PDF) |
| Authors: |
P. Benigno,
New York University
M. Woodford,
Princeton University
|
| Discussants: |
B. Diba, Georgetown University
A. Razin, Tel Aviv University |
| 3:15 p.m. |
The Optimal Degree of Monetary Policy Discretion (385 KB PDF) |
| Authors: |
S. Athey,
Stanford University
A. Atkeson,
University of California, Los Angeles
P. Kehoe,
Federal Reserve Bank of Minneapolis |
| Discussants: |
K. Rogoff, Harvard University
B. McCallum,
Carnegie Mellon University |
| 4:30 p.m. |
Coffee break |
| 5:00 p.m. |
Understanding the Effects of Government Spending on Consumption (590 KB PDF) |
| Authors: |
J. Galí,
Centre de Recerca en Economia Internacional
D. López-Salido,
Banco de España
J. Vallés,
Banco de España |
| Discussants: |
E. Leeper,
Indiana University
I. Mihov,
INSEAD |
| 6:15 p.m. |
Conference adjourns |
| 7:00 p.m. |
Reception |
| 7:30 p.m. |
Dinner* |
Speaker
Ben Bernanke,
Member
Board of Governors of the Federal Reserve System
|
| Day 2: Saturday, November 15, 2003 |
| 8:00 a.m. |
Continental breakfast |
| 8:30 a.m. |
Session 3: International Linkages |
| Chair: |
Ignazio Angeloni |
| |
Indeterminacy with Inflation-Forecast-Based Rules in a Two-Bloc Model (325 KB PDF) |
| Authors: |
N. Batini,
Bank of England
P. Levine,
University of Surrey
J. Pearlman,
London Metropolitan University
|
| Discussants: |
G. Corsetti,
European University Institute
M. Giannoni,
Columbia University |
| 9:45 a.m. |
Coffee break |
| 10:15 a.m. |
When Leaner Isn't Meaner: Measuring the Benefits and Spillovers of Greater Competition in Europe (579 KB PDF) |
| Authors: |
T. Bayoumi, International Monetary Fund
D. Laxton,
International Monetary Fund
P. Pesenti,
Federal Reserve Bank of New York |
| Discussants: |
P. Minford,
Cardiff Business School
G. Coenen,
European Central Bank |
| 11:30 a.m. |
Interdependence between the Euro Area and the U.S.: What Role for EMU? (492 KB PDF) |
| Authors: |
M. Ehrmann, European Central Bank
M. Fratzscher,
European Central Bank |
| Discussants: |
J. Faust,
Federal Reserve Board
O. Jorda, University of California, Davis |
| 12:45 p.m. |
Lunch* |
| 2:00 p.m. |
Session 4: Optimal Monetary Policy |
| Chair: |
Dale Henderson |
| |
Monetary Discretion, Pricing Complementarity and Dynamic Multiple Equilibria (604 KB PDF) |
| Authors: |
R. King,
Boston University
A. Wolman,
Federal Reserve Bank of Richmond
|
| Discussants: |
M. Gertler,
New York University
O. Jeanne, International Monetary Fund |
| 3:15 p.m. |
Ramsey Monetary Policy and International Relative Prices (666 KB PDF) |
| Authors: |
E. Faia,
Universitat Pompeu Fabra
T. Monacelli,
Università Bocconi |
| Discussants: |
G. Benigno,
London School of Economics
P. Teles,
Federal Reserve Bank of Chicago |
| 4:30 p.m. |
Conference ends |
