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11th Annual Conference of the Central Bank of Chile

Monetary Policy Under Uncertainty and Learning

Santiago, Chile, Thursday 15, and Friday 16, November 2007

Monetary policy is always conducted in an environment of uncertainty about future observable variables, past and future unobservable variables, and the models that represent the structure of relations between policy and markets. Hence it is critical to improve our understanding of the analytics of monetary policy under uncertainty and to develop tools, frameworks, and models that recognize the role of uncertainty in policy and private-sector decisions as well as in the building and use of models themselves. This implies focusing also on expectations formation and the role of learning – by both central banks and market participants – in determining behavior and macroeconomic performance.

The 11th Annual Conference al of the Central Bank of Chile (CBC), on “Monetary Policy under Uncertainty and Learning”, is devoted to dealing with the latter issues. The Conference will bring together academics, central bank researchers, and monetary policy makers to discuss theoretical and empirical frontier research on the implications of data and model uncertainty, and of learning behavior, for the conduct of monetary policy.

Venue Sheraton Hotel, Santiago, Chile

Language All sessions will be conducted in English, except for the Opening Remarks