Conferences

Ninth Annual Conference of the Central Bank of Chile:

Monetary Policy Under Inflation Targeting

Friday, October 21

Session IV: Evidence on Inflation Targeting Experiences. Chair: Manuel Marfán Board Member of the Central Bank of Chile .

Time Expositor Subject
9:00-10:00 Sebastian Edwards (University of California, Los Angeles) Discussants: Eduard Hochreiter (Oesterreichische Nationalbank) and Andrea Tokman (Central Bank of Chile) The Relationships Between Exchange Rates and Inflation Targeting Revisited (207 Kb)
10:00-11:00 Stephen Cecchetti (Brandeis University) and Stefan Krause (Emory University) Discussants: Marcelo Kfoury (Banco Central do Brasil) and Luis Oscar Herrera (Central Bank of Chile) Inflation Targeting vs. Price-Path Targeting: Looking for Improvements (135 Kb)
11:00-11:20 Coffee  
11:20-12:20 Frederic Mishkin (Columbia University) and Klaus Schmidt-Hebbel (Central Bank of Chile) Discussant: John Murray (Bank of Canada) and Raimundo Soto (Catholic University of Chile) Does Inflation Targeting Make a Difference? (337 Kb)
12:20-13:20 Refet Gürkaynak (Bilkent University), Andrew T. Levin (Board of Governors of the Federal Reserve System), Andrew N. Marder (Board of Governors of the Federal Reserve System), and Eric T. Swanson (Federal Reserve Bank of San Francisco) Discussants: Scott Roger (IMF) and Eric Parrado (Central Bank of Chile) Inflation Targeting and the Anchoring of Inflation Expectations in the Western Hemisphere (318 KB)
13:30-15:00 Lunch

 

Session V: Optimal Monetary Policy and Inflation Targeting. Chair: Esteban Jadresic Director, International Division of the Central Bank of Chile.

Time Speaker Subject
15:00-16:00 Athanasios Orphanides (Board of Governors of the Federal Reserve System) and John C. Williams (Federal Reserve Bank of San Francisco) Discussants: Ali Hakan Kara (Central Bank of Turkey) and Rodrigo Vergara (Catholic University of Chile) Inflation Targeting under Imperfect Knowledge (265 Kb)
16:00-17:00 Carl E. Walsh (University of California, Santa Cruz) Discussants: David Archer (Bank of International Settlements) and Kevin Cowan (Central Bank of Chile) Transparency, Flexibility, and Inflation Targeting (367 Kb)
17:00-17:20 Coffee  
17:20-18:20 Stephanie Schmitt-Grohé (Duke University) and Martín Uribe (Duke University) Discussant : Jan Marc Berk (De Nederlandsche Bank) and Juan Pablo Medina (Central Bank of Chile) Optimal Inflation Stabilization in a Medium-Scale Macroeconomic Model (321 Kb)