The Role of Monetary Policy Rules in Inflation Targeting Regimes - Theory Meets Practice

Norges Bank, May 2003

Programme

Monday 5 May 2003

Welcome by Central Bank Governor Svein Gjedrem

Session I: "Evaluation of policy rules for practical use"

Lars Svensson, Princeton University

David Archer, Reserve Bank of New Zealand: "Are the policy rules proposed in the literature good enough for practical use?"

Practical views from the Bank of Canada, the Schweizerische Nationalbank and Sveriges Riksbank

Pierre Duguay: Policy rules and the Conduct of Monetary Policy in Canada

Thomas J. Jordan: Rules in the Conduct of Swiss Monetary Policy

Discussion among the delegates

Chairman Jan F. Qvigstad, Norges Bank

 

Tuesday 6 May 2003

Session II: "Monetary policy with unknown natural rates and noisy data"

Main speaker Athanasios Orphanides, Federal Reserve

  • Robust Monetary Policy Rules with Unknown Natural Rates
  • Historical Monetary Policy Analysis and the Taylor Rule

Practical views from Norges Bank and the Czech Central Bank

Jan F. Qvigstad, Norges Bank: Some comments to Orphanides and Svensson

Discussion

Chairman Irma Rosenberg, Sveriges Riksbank

Session III: "Evaluation of inflation reports, what are ‘best practice' criteria?"

Main speaker Hans Genberg, Graduate Institute of International Studies presents the Genberg/Wyplosz/Fracasso paper How do Central Banks write? An Evaluation of Inflation Reports by Inflation Targeting Central Banks

Genberg's PowerPoint presentation of the report

Practical views from the Reserve Bank of Australia and Bank of England

Peter Andrews How do Central Banks write? An Evaluation of Inflation Reports by Inflation Targeting Central Banks. Comments to the report

Philip Lowe How do Central Banks write? An Evaluation of Inflation Reports by Inflation Targeting Central Banks. Comments to the report

Discussion

Chairman Claudio Borio, BIS

 

Published 29 April 2005 13:08