Navigating the Great Recession: what role for monetary policy?

BIS Papers  |  No 74  | 
23 December 2013

The 12th BIS Annual Conference took place in Lucerne, Switzerland on 20-21 June 2013. The event brought together a distinguished group of central bank governors, leading academics and former public officials to exchange views on the conference theme of "Navigating the Great Recession: what role for monetary policy?". This volume contains the opening address by Stephen Cecchetti (former Economic Adviser, BIS), a keynote address by Finn Kydland (University of California, Santa Barbara) and the contributions of the policy panel. The participants in the policy panel, chaired by Jaime Caruana (General Manager, BIS), were Zeti Akhtar Aziz (Bank Negara Malaysia), Thomas Jordan (Swiss National Bank) and Glenn Stevens (Reserve Bank of Australia).

The papers presented at the conference and the discussants' comments are released as BIS Working Papers 434 to 437:

Cyclical macroeconomic policy, financial regulation and economic growth, BIS Working Papers No 434
by Philippe Aghion and Enisse Kharroubi
Comments by Robert E Hall 

Is monetary policy overburdened?, BIS Working Papers No 435
by Athanasios Orphanides
Comments by Charles Bean and Niall Ferguson 

Global spillovers and domestic monetary policy, BIS Working Papers No 436
by Menzie D Chinn
Comments by Leszek Balcerowicz, Piotr Ciżkowicz and Andrzej Rzońca, and Rakesh Mohan

International monetary policy coordination: past, present and future, BIS Working Papers No 437
by John B Taylor
Comments by Arminio Fraga Neto and Kenneth Rogoff 

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