Two Decades of Inflation Targeting: Main Lessons and Remaining Challenges

3 June 2013

Clarion Hotel Sign, Stockholm, Sweden

Sunday 2 June

18:00 Reception and buffet dinner, Clarion Hotel

Monday 3 June

08:30 Registration and coffee

Chair: Marianne Nessén, Sveriges Riksbank

09:00 Welcome address: Stefan Ingves, Sveriges Riksbank

09:15 "Some Lessons from Six Years of Practical Inflation Targeting" [paper] [slides]

Author: Lars E.O. Svensson, Stockholm University and SIFR - The Institute for Financial Research

Discussant: Eric M. Leeper, Indiana University [slides]

10:25 Coffee

10:50 "Financial Stability and Monetary Policy: A New Policy Framework for the Euro Area" [paper] [slides]

Author: Frank Smets, European Central Bank

Discussant: Stefan Gerlach, Central Bank of Ireland [slides]

12:00 Lunch

Chair: Ulf Söderström, Sveriges Riksbank

13:20 "Forward Guidance by Inflation-Targeting Central Banks" [paper] [slides]

Author: Michael Woodford, Columbia University

Discussant: John C. Williams, Federal Reserve Bank of San Francisco [slides]

14:30 "Banking Globalization, Transmission, and Monetary Policy Autonomy"

Author: Linda Goldberg, Federal Reserve Bank of New York

Discussant: Karolina Ekholm, Sveriges Riksbank [slides]

15:40 Coffee

16:00 Panel Discussion: "Remaining Challenges for Monetary Policy"

Chair: Anders Vredin, Sveriges Riksbank

Panelists: Stefan Ingves, Sveriges Riksbank; Stephen G. Cecchetti, Bank for International Settlements; Donald Kohn, Brookings Institution; Athanasios Orphanides, MIT Sloan School of Management

18:00 Adjourn

19:00 Bus leaves for Vasa Museum for guided tour and conference dinner

Time allocation

Presentation: 30 minutes

Discussant: 20 minutes

Open discussion: 20 minutes

Organizing committee

Claes Berg, Sveriges Riksbank

Kerstin Hallsten, Sveriges Riksbank

Virginia Queijo von Heideken, Sveriges Riksbank

Ulf Söderström, Sveriges Riksbank

Local organization

Lena Löfgren, Sveriges Riksbank