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"CENTRAL BANK COMMUNICATION, DECISION-MAKING AND GOVERNANCE"

The VIESSMANN EUROPEAN RESEARCH CENTRE'S ANNUAL CONFERENCE HELD AT WILFRID LAURIER UNIVERSITY

APRIL 28-29, 2009

NOTE: links to papers and presentations are found below. Please respect authors' wishes concering their willingness about whether their work in progress is to be cited or not. A list of participants and the e-mail addresses of presenters and discussants can also be found below.

Tuesday, April 28, 2009

8:30-9:00 am
9:00-9:10 am

Continental Breakfast SBE Atrium
Welcome

Session I

Chair: Jurek Konieczny (WLU)

9:10-10:00am

Presenter: Carin van der Cruijsen (De Nederlandsche Bank) ,

Optimal Central Bank Transparency
Presentation

[with Sylvester Eijffinger & Lex Hoogduin]

Discussion: Carlo Rosa, CORE

10:00-10:50am

Presenter: Andrew Hughes Hallett ( George Mason University ),

When Can a Central Bank Anchor Expectations?
Policy Communication and Controllability”
Presentation

[with Giovanni Di Bartolomeo, Nicola Aocella]

Discussion: Matthew Doyle, University of Waterloo

Break

10:50-11:10

Session II

Chair: Jean-Paul Lam, University of Waterloo

11:10-12:00pm

Presenter: David Mayes ( University of Auckland ),

Central Bank Decision-making
and Communication under Uncertainty
Presentation

[with Sheila Dow, Mathias Klaes, Alberto Montagnoli]

Discussion: Øistein Røisland, Norges Bank

12:00am-12:50pm

Presenter: Jan-Egbert Sturm (KOF-ETH, Zürich),

Does Central Bank Communication Really Add Information? A Horse Race of Indicators of ECB Communication”
Presentation

[with Jakob de Haan]

Discussion: Michal Brzoza-Brzezina , National Bank of Poland

12:50-2:00pm

LUNCH (SBE Atrium)

2:00-3:30pm

NOTE: This session is in the Paul Martin Centre

Moderator: Alan Blinder, Princeton (unable to attend)

Panel I: Charles Goodhart (former member of Bank of England MPC), Amund Holmsen (Director, Monetary Policy Department, Norges Bank), Daniel Thornton (Vice President and Economic Advisor, Federal Reserve Bank of St. Louis), Gordon Thiessen (former Governor, Bank of Canada),

Slides for Holmsen, Thornton [PDF version]

Break

3:30-4:00

Session III

Chair: James Brox, University of Waterloo

4:00-4:50pm

Presenter: Michael Ehrmann (ECB),

Politics and Monetary Policy
Presentation

[with Marcel Fratzscher]

Discussant: William Robert Clark, University of Michigan

4:50-5:40pm

Presenter: Volker Nitsch (KOF-ETH, Zürich),

Too Many Cooks? Committees in Monetary Policy
Presentation

[with Helge Berger]

Discussion: Christopher Crowe, IMF

Dinner

6:30-9:00pm

Dinner will be held in the Atrium at CIGI (Directions from WLU; from the Comfort Inn) DINNER MENU

Keynote Speaker: Jorge Braga de Macedo, Professor of Economics, Universidade Nova de Lisboa, Former Finance Minister, Portugal, NBER Reasearch Associate

"Portugal's Transition to the Euro: The Treasury and the Bank"
(www.jbmacedo.com)

Wednesday, April 29, 2009
8:30-9:00 am: Continental Breakfast SBE Atrium

Wednesday, April 29, 2009

Session IV

Chair: Martin Bohl, Westfälische-Wilhelms Univ. , Münster

9:00-9:50pm

Presenter: Ellen Meade ( American University ),

The Phillips Curve and FOMC Monetary Policy: What the FOMC Transcripts Tell Us
Presentation

[with Daniel Thornton]

Discussion: Bill Scarth , McMaster University

9:50-10:30pm

Presenter: Magnus Andersson (European Central Bank),

Gauging the Efectiveness of Central Bank Forward Guidance
Presentation

[with Boris Hofmann]

Discussion: Petra Gerlach, Swiss National Bank

Break

10:30-10:50

Session V

Chair: Eric Helleiner, University of Waterloo

10:50-11:40am

Presenter: Bernd Hayo ( Philipps University - Marburg ),

Communicating with Many Tongues:
FOMC Speeches and Financial Market Reaction

Presentation

[with Ali Kutan, Matthias Neuenkirch]

Discussion: Dennis Jansen, Texas A&M

11:40-12:30am

Presenter: Greg Hess (Claremont-McKenna),

A Quantitative Assessment of the Qualitative Aspects of Chairman Greenspan's Communications
Presentation

Discussion: Alberto Montagnoli (University of Stirling)

Light lunch (Outside Paul Martin Centre)

12:30-1:00

1:00-2:30pm

NOTE this session is in the Paul Martin Centre

Moderator: William Robson, President & CEO,

C.D. Howe Institute

Panel II: David Akin (Canwest Global, CANADA ), Mark Schieritz (Die Zeit , GERMANY ), Heather Scoffield (Globe & Mail , CANADA), Yoishi Takita ( Nikkei , New York , JAPAN. Presentation)

End of Conference

List of presenters/discussants/panellists (click on Excel logo)

NOTE: 30 minutes for each presentation, 10 minutes for each discussant, 10 minutes for general discussion. Each panellist would be given 10 minutes to provide a brief introduction, with 50 minutes for general discussion.

All sessions will take place in SBE 1240 (Schlegel Centre), except the two panel sessions which will be held in the Paul Martin Centre.

POST CONFERENCE EVENT

Professor Charles Goodhart will be giving a lecture “The Fundamental Principles of Financial Regulation”, followed by a question and answer session, at CIGI on April 30 th from 10:00-12:00. The session is by invitation only. If you are interested in attending (the location is the same place the conference dinner is being held the night before) please contact Stephanie Woodburn at CIGI (swoodburn@cigionline.org). The presentation is based on his recently released Geneva Reports on the World Economy # 11, downloadable fromhttp://voxeu.org/index.php?q=node/2796.

PRACTICAL INFORMATION

  1. All sessions , except for the panel sessions, will be held in room SBE 1240 . The location can be found at http://www.wlu.ca/maps/schlegel.php . The panel sessions will be held at the Paul Martin Centre (PMC), a short walk from the regular meeting room. There will be signs directing you to the PMC but its location can also be found here: http://www.wlu.ca/maps/martin.php .
  2. The hotel is the Comfort Inn , chosen because of its location. Its an easy walk from there to the campus.( Directions ) There is free Internet access in the rooms. The hotel is found here . Unless special arrangements were made, all participants are required to book rooms by sending an e-mail to cn314agm@whg.com indicating that they are attending the Viessmann/Central Banking conference (the conference rate is $99.00 CAD + Taxes = $110.00 CAD per night).
  3. If you are driving from Toronto Pearson International Airport - the most convenient airport to Waterloo - you can get to the hotel by following these directions . Alternatively, if you prefer to come by airport shuttle you can book directly online at www.airwaystransit.com. Once you arrive follow the directions to the Airways Transit counter. The precise directions will depend on whether you are arriving at Terminal 1 or 3. These can be found from http://www.airwaystransit.com/pearson_locations.shtml. Again, unless special arrangements were made, participants are required to make their own transfer arrangements.
  4. For those intending to visit the area, either before or after the conference, the following links to the Waterloo region, the Niagara region (wine route), and Toronto, may be useful. WATERLOO REGION (http://www.explorewaterlooregion.com/), NIAGARA WINE ROUTE (http://www.tourismniagara.com/wine_country.html) , TORONTO (http://www.seetorontonow.com/).

 

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