Global Dimensions of Unconventional Monetary Policy



The Federal Reserve Bank of Kansas City hosted dozens of central bankers, policymakers, academics and economists from around the world at its annual economic policy symposium, Aug. 21 -23, 2013, in Jackson Hole, Wyo. 

Materials for the symposium, during which participants discussed economic issues, implications and policy options, are available below. 

To learn about the symposium's history read In Late August.

Thursday, Aug. 22, 2013


6 p.m.

Opening Reception and Dinner

Foreword: Esther George
President and Chief Executive Officer
Federal Reserve Bank of Kansas City
Contributors
Summary

Friday, Aug. 23, 2013


Chair: Stanley Fischer
Former Governor
Bank of Israel

7:15 a.m.

Continental Breakfast

8 a.m.



The Natural Rate of Interest, Financial Crises
and the Zero Lower Bound

Author: Robert E. Hall 
Professor, Stanford University
Senior Fellow, Hoover Institution

Discussant: Hyun Song Shin 
Professor
Princeton University

8:35 a.m.

General Discussion

9 a.m.

The Transmission of Unconventional Monetary Policy

Author: Arvind Krishnamurthy 
Professor
Northwestern University

9:20 a.m.

Coffee Break

9:45 a.m.



Discussant: Anil K. Kashyap
Professor
University of Chicago

10 a.m.

General Discussion

10:25 a.m.

Panel on Monetary Policy Options and Tools

Panelists: Agustín Carstens
Governor
Bank of Mexico

David Daokui Li
Professor
Tsinghua University

Frank R. Smets
Director General, Directorate General Research
European Central Bank

11:25 a.m.

General Discussion

12:15 p.m.

Luncheon Address

Speaker: Christine Lagarde
Managing Director
International Monetary Fund

2 p.m. Adjournment
7 p.m.

Reception and Dinner

Saturday, Aug. 24, 2013


Chair: Janet L. Yellen
Vice Chair
Board of Governors of the Federal Reserve System

7:15 a.m.

Continental Breakfast

8 a.m.

Global Liquidity

Author: Jean-Pierre Landau 
Fellow
Sciences Po

Discussant: Claudio Borio
Deputy Head, Monetary and Economic Department and Director, Research and Statistics
Bank for International Settlements

8:35 a.m.

General Discussion

9 a.m.

Cross-Border Capital Flows

Author: Hélène Rey 
Professor
London Business School

Discussant: Terrence J. Checki
Executive Vice President
Federal Reserve Bank of New York

10 a.m.

General Discussion

10:25 a.m.

Overview Panel

Panelists: Charles R. Bean
Deputy Governor
Bank of England

Haruhiko Kuroda 
Governor
Bank of Japan

Luiz A. Pereira da Silva
Deputy-Governor
International Affairs and Financial Regulation
Central Bank of Brazil

11:25 a.m.

General Discussion

12:15 p.m.

Luncheon

2 p.m.

Adjournment

7 p.m.

Closing Reception and Dinner



Roster of Attendees