The Role of Monetary Policy Rules in Inflation Targeting Regimes - Theory Meets Practice
Norges Bank, May 2003
Monday 5 May 2003
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
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
Chairman Claudio Borio, BIS