Macroeconomic Challenges: The Decade Ahead
The Federal Reserve Bank of Kansas City hosted more than 100 central bankers, policymakers, academics and economists from around the world at its annual economic policy symposium Aug. 26 - 28 in Jackson Hole, Wyo.
Speakers included Federal Reserve Chairman Ben Bernanke, President of the European Central Bank Jean-Claude Trichet, Kansas City Fed President Tom Hoenig, as well as professors and central bank governors.
Participants discussed economic issues, implications and policy options related to this year’s topic.
Read speeches and papers from this year's event.
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| Foreword THOMAS M. HOENIG President, Federal Reserve Bank of Kansas City |
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| Opening Remarks | BEN S. BERNANKE Chairman, Board of Governors of the Federal Reserve System |
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| Evaluating the Global Economic Recovery | |
| Author: | CARMEN M. REINHART Professor, University of Maryland |
| Paper: | After the Fall |
| Discussant: | WILLIAM R. WHITE Chairman, Economic Development and Review Committee, Organisation for Economic Co-operation and Development |
| General Discusssion | |
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| Incorporating Financial Factors into Macroeconomic Analysis | |
| Author: | LAWRENCE J. CHRISTIANO Professor, Northwestern University |
| Paper: | Monetary Policy and Stock Market Booms |
| Discussant: | JOHN GEANAKOPLOS Professor, Yale University |
| General Discussion | |
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| Inflation Dynamics in the Decade Ahead | |
| Authors: | JAMES H. STOCK Professor, Harvard University |
| MARK W. WATSON Professor, Princeton University |
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| Paper: | Modeling Inflation After the Crisis |
| Discussant: | FRANK R. SMETS Director General, Research, European Central Bank |
| General Discussion | |
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| Luncheon Address | JEAN-CLAUDE TRICHET President, European Central Bank |
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| Rethinking Monetary Policy in Light of the Crisis | |
| Author: | CHARLES R. BEAN Deputy Governor, Bank of England |
| Paper: | Monetary Policy After the Fall |
| Discussants: |
ALAN S. BLINDER |
| JOHN B. TAYLOR Professor,Stanford University and Senior Fellow, Hoover Institution |
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| General Discussion | |
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| Risks and Challenges of Large Fiscal Deficits | |
| Author: | ERIC M. LEEPER Professor, Indiana University |
| Paper: | Monetary Science, Fiscal Alchemy |
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FRANCESCO GIAVAZZI Professor, Bocconi University |
| General Discussion | |
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| Reconsidering the International Monetary System | |
| Panelists: | JOHN LIPSKY First Deputy Managing Director, International Monetary Fund |
| MAURICE OBSTFELD Professor, University of California, Berkeley |
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| UMAYYA S. TOUKAN Governor, Central Bank of Jordan |
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| General Discussion | |
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| Roster of Attendees | |
