BIS/ECB Workshop on "Monetary Policy and Financial Stability"
The topics to be discussed are related, but are not necessarily limited to, the following questions: - How effective have monetary policy measures been in the recent and past crises? What is the relationship between interest rate and balance sheet policies of central banks? How does the zero-lower bound on interest rates affect the monetary policy response? What is the relationship between monetary and fiscal policy in a crisis? Have monetary and fiscal policies become increasingly intertwined? How will this affect central bank independence (both in terms of instruments or goals)? - What are the costs of asset price and credit boom/bust cycles? Can excess borrowing or other types of financial imbalances be identified before they may lead to stress? Is a policy that "leans against the wind" desirable and feasible? How does monetary policy interact with other policies in this respect? - What have we learned regarding the transmission channels of monetary policy during boom/bust cycles? Does monetary policy affect risk-taking over and above conventional transmission channels? - How should central bank strategies be adjusted in light of the lessons from the crisis? Are there any implications for the right length of the policy horizon?
|Event dates:||2009-09-10 – 2009-09-11|
|Organizer:||Bank for International Settlements BIS European Central Bank ECB|
Sylviane Eckes (email@example.com) Tel: +41(0)61 280 8220 Annette Stockreisser (firstname.lastname@example.org) Tel: +41(0)61 280 8215
|Classification:||E5 - Monetary Policy, Central Banking and the Supply of Money and Credit ; G1 - General Financial Markets ; G2 - Financial Institutions and Services|
|Event type:||Seminare, Summer Schools, Symposien, Workshops; Seminars, Summer Schools, Symposiums, Workshops|