Frontiers In Central Banking
A Conference Jointly organized by the National Bank of Hungary, the University of Munster, Germany, and the Viessmann European Research Centre
MAY 10-12, 2007, at the National Bank of Hungary, Budapest, Hungary
A tanulmányok a konferenciára készült eslő munkapéldányok. A szerzők előzetes hozzájárulása nélkül nem sokszorosíthatók, nem közölhetők.
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Time
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Activity
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Thursday May 10, 2007
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Arrival of Participants
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1:45-2:00pm
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Opening Remarks
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Session 1- CHAIR: György Szapáry , MNB
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2:00-2:45pm
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Why Not Price Level Stability?
Frank Smets, ECB
Vitor Gaspar, Banco de Portugal *
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2:45-3:30pm
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Discretion Versus Rules: Lessons from the Volcker-Greenspan Era
Robert Hetzel, Federal Reserve Bank of Richmond
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3:30-4:00pm
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Coffee break
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Session 2 – CHAIR: Sylvester Eijffinger, Tilburg
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4:00-4:45pm
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Analysis of Financial Stability
Charles Goodhart, LSE, Dimitri Tsomocos, Oxford University
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4:45-5:30pm
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How Should Central Banks Be Designed To Achieve Financial Stability?
Alicia Garcia-Herrero, BIS and Bank of Spain
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7:00pm-10:00pm
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Dinner on the Danube
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Friday, May 11, 2007
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Session 3 – CHAIR: Julius Horvath, CEU
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9:00-9:45am
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Central Bank Independence and Exchange Rate Regimes
Thomas Willett, Eric Chiu, Sirathorn B.J. Dechsakulthorn, Stefanie Walter Claremont Graduate University
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9:45pm-10:30am
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Does Central Bank Independence Cause Low Inflation? A Sceptical View
Bernd Hayo, Philipps University, Carsten Hefeker, University of Siegen
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10:30-11:00am
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Coffee break
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Session 4 – CHAIR: György Kopits, CEU
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11:00-11:45am
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The Economic Impact of Central Bank Transparency: A Survey
Carin van der Cruijsen, De Nederlandsche Bank and University of Amsterdam , Sylvester Eijffinger, CentER, Tilburg University , RSM Erasmus University and CEPR
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11:45-12:30pm
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The Limits of Transparency
Alex Cukierman, Tel-Aviv University
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12:30-2:00pm
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Lunch
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Session 5 – CHAIR: Vitor Gaspar, Banco de Portugal
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2:00-2:45pm
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Monetary Policy Committees in Action: Is There Any Room for Improvement?
Philipp Maier, Bank of Canada
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2:45-3:30pm
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The Role of Corporate Governance in the Effectiveness of Central Banking: Evidence from Developing and Transitional Countries
Ifthekar Hasan, Rensselaer Polytechnic Institute , Loretta J. Mester, Federal Reserve Bank of Philadelphia
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3:30-4:00pm
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Coffee break
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Session 6 – CHAIR: Donato Masciandaro, Bocconi
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4:00-4:45pm
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National Central Banks in a Multi-National System
David Mayes, Bank of Finland , Geoffrey Wood, City University London
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4:45-5:30pm
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Alternative Policy Rules in a Model with Endogenous Sudden Stops
Gianluca Benigno, LSE , Christopher Otrok, University of Virginia , Alessandro Rebucci, International Monetary Fund, Eric Young, University of Virginia
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6:30-10:00pm
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Dinner at MNB
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Saturday May 12, 2007
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Visiting Budapest and Szentendre
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