Of the uses of central banks: Lessons from history
Norges Bank, Oslo, 5-6 June 2014
Thursday 5 June 2014
Opening Remarks by Øystein Olsen, Governor Norges Bank
Session I 08.45-11.30 Central Banks: Historical Perspectives
Chair: Øyvind Eitrheim, Norges Bank
- Clemens Jobst (Oesterreichische Nationalbank) and Stefano Ugolini (University of Toulouse), "The Coevolution of Money Markets and Monetary Policy, 1815-2008"
- Discussant: Nathan Sussman (Bank of Israel)
- Forrest Capie (Cass Business School), Geoffrey Wood (Cass Business School) and Juan Castañeda (University of Buckingham), "Central Bank Independence in Small Open Economies"
- Discussant: Thomas Helbling (IMF)
- Richard S. Grossman (Wesleyan University) and Hugh Rockoff (Rutgers University), "Fighting the Last War: economists on the lender of last resort"
- Discussant: Charles Goodhart (London School of Economics)
Session II 12.45-14.30 History panel
Moderator:Michael D. Bordo (Rutgers University)
Panelists: Barry Eichengreen (University of California, Berkeley)
Harold James (Princeton University)
Session III 15.00-18:30 Central Banking: International Dimensions
Chair: Martin Seneca, Norges Bank
- Barry Eichengreen (University of California, Berkeley) and Marc Flandreau (The Graduate Institute), "A Century and a Half of Central Banks, International Reserves and International Currencies"
- Discussant: Linda Goldberg (Federal Reserve Bank of New York)
- Catherine Schenk (University of Glasgow) and Tobias Straumann (University of Zurich), "International Monetary Policy Regimes: Historical Perspectives"
- Discussant: Lars Jonung (University of Lund)
- Claudio Borio (Bank for International Settlements), Harold James (Princeton University), and Hyun Song Shin (Princeton University), "The international monetary and financial system: A capital account historical perspective"
- Discussant: Eric Hilt (Wesleyan University)
- Menzie Chinn (University of Wisconsin and NBER), "Central banking: Perspectives from Emerging Economies"
- Discussant: Ashoka Mody (Princeton University)
Friday 6 June 2014
Session IV 08.30-12.00 Central Banking: Delineation and Limitation
Chair: Marc Flandreau, The Graduate Institute, Geneva
- Gianni Toniolo (Duke University) and Eugene White (Rutgers University), "The Evolution of the Financial Stability Mandate From its Origins to the Present Day"
- Discussant: Stefan Gerlach (Central Bank of Ireland)
- Markus K. Brunnermeier (Princeton University) and Isabel Schnabel (Johannes Gutenberg University Mainz, MPI Bonn, and CEPR), "Bubbles and Central Banks: Historical Perspectives"
- Discussant: Andrew Filardo (Bank for International Settlements)
- Charles Kahn (University of Illinois at Urbana-Champaign), Stephen Quinn (Texas Christian University), and William Roberds (Federal Reserve Bank of Atlanta), "Central Banks and Payment Systems: the Evolving Trade-off between Cost and Risk"
- Discussant: Ben Norman (Bank of England)
- William Roberds (Federal Reserve Bank of Atlanta) and François R. Velde (Federal Reserve Bank of Chicago), "The Descent of Central Banks (1400-1815)"
- Discussant: Juha Tarkka (Bank of Finland)
Session V 13.15-15.00 Policy panel
Moderator: Stefan Gerlach (Central Bank of Ireland)
Panelists: Karolina Ekholm (Sveriges Riksbank)
Linda Goldberg (Federal Reserve Bank of New York)
Session VI 15.30-17.45 Of the Uses of Central Banks: Historical Lessons
Chair: Ida Wolden Bache, Norges Bank
- Michael D. Bordo (Rutgers University) and Pierre Siklos (Wilfrid Laurier University), "Central Bank Credibility: An Historical and Quantitative Exploration"
- Discussant: Lars E. O. Svensson (University of Stockholm)
- Charles Goodhart (London School of Economics), "Central Bank Evolution: Lessons learnt from the Sub-prime Crisis"
- Discussant: Jon Nicolaisen (Deputy Governor, Norges Bank)
- Andrew G. Haldane (Bank of England) and Jan F. Qvigstad (Norges Bank), "The evolution of Central Banks - A Practitioner's Perspective"
- Discussant: Anders Vredin (Sveriges Riksbank)
End 17.45 End Remarks
Overview/authors (pdf, 40 kB)