Whither monetary policy? Monetary policy challenges in the decade ahead

BIS Papers  |  No 45  | 
25 March 2009

On 26-27 June 2008, the BIS held its Seventh Annual Conference on "Whither monetary policy? Monetary policy challenges in the decade ahead" in Luzern, Switzerland. The event brought together senior representatives of central banks and academic institutions to exchange views on this topic. BIS Paper 45 contains the opening address of William R White (BIS), the contributions of the policy panel on "Beyond price stability - the challenges ahead" and speeches by Edmund Phelps (Columbia University) and Martin Wolf (Financial Times). The participants in the policy panel discussion chaired by Malcolm D Knight (BIS) were Martin Feldstein (Harvard University), Stanley Fischer (Bank of Israel), Mark Carney (Bank of Canada) and Jean-Pierre Landau (Banque de France). The papers presented at the conference including the discussants' comments are released as BIS Working Papers 273 to 278.

JEL classification: E52, E58

The individual research papers and the discussants' comments presented at this conference are published as BIS Working Papers:

In search of monetary stability: the evolution of monetary policy, BIS Working Papers No 273
by Otmar Issing
Comments by Allan H Meltzer

Talking about monetary policy: the virtues (and vice?) of central bank communication, BIS Working Papers No 274
by Alan Blinder
Comments by Benjamin M Friedman
Comments by YV Reddy

Inflation expectations, uncertainty and monetary policy, BIS Working Papers No 275
by Christopher A Sims
Comments by Athanasios Orphanides
Comments by Lars E O Svensson

Has the monetary transmission process in the euro area changed? Evidence vased on VAR estimates, BIS Working Papers No 276
by Axel A Weber, Rafael Gerke and Andreas Worms
Comments by Marvin Goodfriend
Comments by Armínio Fraga Neto

China's financial conundrum and global imbalances, BIS Working Papers No 277
by Ronald McKinnon and Gunther Schnabl
Comments by Michael Mussa


Credit frictions and optimal monetary policy, BIS Working Papers No 278
by Vasco Cúrdia and Michael Woodford
Comments by Olivier Blanchard
Comments by Charles Goodhart


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