“The Relation between Monetary Policy and Financial-Stability Policy,” in Aguirre, Brunnermeier, and Saravia, eds. (2019), Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications, Banco Central de Chile, pp. 283–310. Preliminary version presented at the XXI Annual Conference of the Central Bank of Chile, “Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications,” Santiago, Chile, November 16-17, 2017. Paper. Slides pdf pptx. Conference. Video.
Category Archives: Presentations
Monetary Policy and Macroprudential Policy: Which One to Use for What?
“Monetary Policy and Macroprudential Policy: Which One to Use for What?” presentation at the Bank of England, Hong Kong Monetary Authority, and IMF conference on Monetary, Financial, and Prudential Policies in the Post-Crisis World, Washington, DC, November 8-9, 2017. Slides.
What rule for the Fed? Forecast targeting
“What Rule for the Fed? Forecast Targeting”, International Journal of Central Banking 16 (December 2020) 39-95. Paper.
Previous version presented at the Federal Reserve Bank of Boston’s 61st Economic Conference, “Are Rules Made to be Broken? Discretion and Monetary Policy,” October 13–14, 2017. Slides. Conference. Continue reading
Interest rates during and after the crisis: Leaning against the wind, or not?
“Interest rates during and after the crisis: Leaning against the wind, or not?”, keynote address at the workshop on “Interest rates after the financial crisis,” Örebro University and Kommuninvest, Örebro, October 3, 2017. Slides.
Transparency and communication with forecast targeting
“Transparency and Communication with Forecast Targeting,” presentation (slides) at “Monetary Policy Framework Issues: Toward the 2021 Inflation-Target Renewal,” a workshop at Bank of Canada, September 14, 2017. Video.
Commentary on Monetary Policy and Financial Stability
“Commentary on Monetary Policy and Financial Stability” (slides), presented at “Challenges to Financial Stability in a Low Interest Rate World,” Annual International Journal of Central Banking Research Conference, Federal Reserve Bank of San Francisco, November 21-22, 2016.
Published as “Leaning Against the Wind: Costs and Benefits, Effects on Debt, Leaning in DSGE Models, and a Framework for Comparison of Results,” International Journal of Central Banking 13 (September 2017) 385-408.
Panel presentation: Should monetary policy take financial-stability considerations into account at the ELB?
“Should Monetary Policy Take Financial-Stability Considerations into Account at the ELB?”, panel presentation (slides) at the First ECB Annual Research Conference, “Monetary Policy and Financial Stability in a Low Interest Rate Environment,” Frankfurt, September 28-29, 2016.
Keynote presentation: Monetary policy and financial stability – Cost-benefit analysis of leaning against the wind
Keynote presentation at the Norges Bank Conference “Rethinking Inflation Targeting,” Oslo, September 8-9, 2016. Slides. Paper.
The recent Swedish experience of monetary policy and macroprudential policy
“The Recent Swedish Experience of Monetary Policy and Macroprudential Policy,” slides presented at Riksrevisionen (The Swedish National Audit Institution), Stockholm, August 30, 2016.
The recent Swedish experience of monetary and macroprudential policy
“The Recent Swedish Experience of Monetary Policy and Macroprudential Policy,” slides presented at Finansbolagens informationsmöte, Grand Hotel, Stockholm, May 20, 2016.
Promoting financial stability: The roles of macroprudential and monetary measures
“Promoting Financial Stability: The Roles of Macroprudential and Monetary Measures,” slides for panel presentation at the BoC-CIGI-IMF-PIEE Workshop on “Re-inventing the Role of Central Banks in Financial Stability,” Ottawa, May 5-6, 2016.
The rationale for macroprudential policy
“The Rationale for Macroprudential Policy,” slides for opening speech at the First Annual ECB Macroprudential Policy and Research Conference, April 26-27, 2016.
Background paper 1. “Monetary policy and macroprudential policy: Different and separate.”
Background paper 2. “Cost-Benefit Analysis of Leaning Against the Wind : Are Costs Larger Also with Less Effective Macroprudential Policy?“
The ECB and its watchers XVII: “Should monetary policy ever lean against the wind?”
“Should monetary policy ever lean against the wind?“, slides for presentation at the conference “The ECB and Its Watchers XVII” organized by the Center for Financial Studies and the Institute for Monetary and Financial Stability, Frankfurt, April 7, 2016.
Swedish monetary policy experience
“Swedish monetary policy experience,” slides for presentation at Valutaseminariet 2016, Oslo, February 3, 2016.
Panel presentation: Optimal Design for Monetary Policy in Post-Crisis Period
Panel discussion, “Optimal Design for Monetary Policy in the Post Crisis Period” (slides), at the conference “Monetary Policy Implementation and Transmission in the Post-Crisis Period,” Federal Reserve Board, Washington, DC, November 12-13, 2015.
Excel sheet used in slide 5 for the simple example of a cost-benefit analys of leaning against the wind.