FRBSF Conference: The Past and Future of Monetary Policy

I am here today:

In 1913, President Woodrow Wilson signed the Federal Reserve Act into law, and the Federal Reserve System was created. In recognition of the centennial of the Fed's founding, the Economic Research Department of the Federal Reserve Bank of San Francisco is sponsoring a research conference on the theme “The Past and Future of Monetary Policy.”

Agenda

Morning Session Chair: John Fernald, Federal Reserve Bank of San Francisco

8:15 AM Continental Breakfast

8:50 AM Welcoming Remarks: John Williams, President, Federal Reserve Bank of San Francisco

9:00 AM  Robert Hall, Stanford University, Ricardo Reis, Columbia University, Controlling Inflation and Maintaining Central Bank Solvency under New-Style Central Banking  Discussants: John Leahy, New York University, Carl Walsh, University of California, Santa Cruz

10:15 AM Break

10:35 AM Christopher Gust, Federal Reserve Board, David Lopez-Salido, Federal Reserve Board, Matthew Smith, Federal Reserve Board, The Empirical Implications of the Interest-Rate Lower Bound, Discussants: Martin Eichenbaum, Northwestern University, Christopher Sims, Princeton University

11:50 AM Break

12:00 PM Lunch – Market Street Dining Room, Fourth Floor, Introduction: Glenn Rudebusch, Director of Research, Federal Reserve Bank of San Francisco, Speaker: Lars Svensson, Deputy Governor, Riksbank

Afternoon Session Chair: Eric Swanson, Federal Reserve Bank of San Francisco

1:15 PM Anna Cieslak, Kellogg School of Management, Northwestern University, Pavol Povala, Stern School of Business, New York University, Expecting the Fed, Discussants: Kenneth Singleton, Stanford Graduate School of Business, Mark Watson, Princeton University

2:30 PM Break

2:45 PM Frederic Boissay, European Central Bank, Fabrice Collard, University of Bern, Frank Smets, European Central Bank, Booms and Systemic Banking Crises, Discussants: Lawrence Christiano, Northwestern University, Mark Gertler, New York University

4:00 PM Break

4:15 PM Christopher Hanes, SUNY Binghamton, Monetary Policy Alternatives at the Zero Bound: Lessons from the 1930s U.S., Discussants; Gary Richardson, University of California, Irvine, James Hamilton, University of California, San Diego

5:30 PM Reception – West Market Street Lounge, Fourth Floor

6:15 PM Dinner – Market Street Dining Room, Fourth Floor, Introduction: John Williams, President, Federal Reserve Bank of San Francisco, Speaker: Ben Bernanke, Chairman, Federal Reserve Board of Governors