Analysing the economy for monetary policy purposes: key issues

Reserve Bank of New Zealand Workshop | Programme schedule for "Analysing the economy | Papers | Workshop participants | Contact details

Reserve Bank of New Zealand Workshop held on 21 March 2003

This workshop aims to shed light on some underlying issues concerning the operation of monetary policy: productivity, equilibrium exchange rate and neutral real interest rate. These variables are of critical importance in monetary policy, yet they are all "unobserved". Estimation of these variables is subject to many uncertainties and problems in practice. Presentations at this workshop will cover recent thinking and research on these concepts and their interrelationships.

Programme schedule for "Analysing the economy for monetary policy purposes: key issues"

Friday 21 March 2003, Seminar Room, 2nd Floor, Reserve Bank of New Zealand

Morning session chaired by David Archer, Reserve Bank of New Zealand
8.30am	Opening remarks by Alan Bollard, Governor, Reserve Bank of New Zealand
8.45am	Nils Björksten, Reserve Bank of New Zealand
	Monetary policy challenges in New Zealand: how are we different? (PDF 291KB)
9.00am	Christopher Plantier, Reserve Bank of New Zealand
	New Zealand's economic reforms after 1984 and the neutral real rate of interest (PDF 120KB)
9.40am	Discussant - James Yetman, University of Hong Kong
9.50am	General discussion

10.15am	Morning tea

10.40am	Kenneth West, University of Wisconsin
	Monetary policy and the volatility of real exchange rates in New Zealand (PDF 145KB)
11.20am	Discussant - John McDermott, National Bank of New Zealand
11.30am	General discussion

12.00	Lunch

Afternoon session chaired by Bob Buckle, The Treasury, New Zealand
1.30am	Matthew Shapiro, University of Michigan
	Regime shifts in economic growth: assessing the evidence and the response of monetary policy (PDF 315KB)
2.10pm	Discussant - Malcolm Edey, Reserve Bank of Australia
2.20pm	General discussion

2.50pm	Afternoon tea

3.10pm	Ed Nelson, Bank of England
	The real interest rate gap as an inflation indicator (PDF 680KB)
3.50pm	Discussant - David Hargreaves, Reserve Bank of New Zealand
4.00pm	General discussion

4.30pm	Thomas Laubach, Board of Governors, Federal Reserve Board
	Measuring the natural rate of interest (PDF 151KB)
5.10pm	Discussant - David Gruen, Commonwealth Treasury, Australia
5.20pm	General Discussion

5.50pm	Rapporteur's remarks - Arthur Grimes MOTU Economic and Public Policy Research
6.00pm	Closing remarks

7.00pm	Dinner at Le Monde Café 25 Bowen Street (in Turnbull House)