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Conference on Monetary Economics

12 Jun. 2000
9.00
The 1st Banco de Portugal Conference on Monetary Economics will be held in Guimarães (Oporto), June 12-14.

The Conference aims at bringing together economists to discuss research on monetary theory and policy.

This year organizers are Isabel Correia, Sérgio Rebelo and Pedro Teles.

The Conference venue is the Pousada Santa Marinha, a 10th century convent/palace, located in Guimarães, 30 miles from Oporto. The pousada has been intirely reserved for the event.

The Conference will last for two and a half days, Monday, June 12 to Wednesday, June 14.
Programme

Sunday, June 11
12.30 – 13.30 Lunch
16.00 – 19.20 Visit to Oporto
19.20 – 21.30 Dinner

Monday, June 12
09.15 – 09.30 Opening address by Vítor Constâncio, Governor of the Banco de Portugal
09.30 – 10.45 Using Asset Prices to Measure the Cost of Business Cycles
Fernando Alvarez (The University of Chicago, Universidad Torcuato Di Tella and NBER)
Urban Jermann (The Wharton School of the University of Pennsylvania and NBER)

Discussant: Robert E. Lucas, Jr. (The University of Chicago and NBER)
10.45 – 11.00 Coffee
11.00 – 12.15 On the Fundamentals of Self-Fulfilling Speculative Attacks
Craig Burnside (The World Bank)
Martin Eichenbaum (Northwestern University, Federal Reserve Bank of Chicago and NBER)
Sérgio Rebelo (Northwestern University, NBER and CEPR)

Discussant: Martin Schneider (University of Rochester)
12.30 – 13.30 Lunch
15.00 – 16.15 Expectation Traps and Monetary Policy
Stefania Albanesi (Northwestern University)
V. V. Chari (University of Minnesota and Federal Reserve Bank of Minneapolis)
Lawrence Christiano (Northwestern University, Federal Reserve Bank of Chicago and NBER)

Discussant: Nancy Stokey (The University of Chicago)
16.15 – 16.30 Coffee
16.30 – 17.45 What are the Effects of Monetary Policy on Output? Results from an Agnostic Identification Procedure
Harald Uhlig (CentER, Tilburg University and CEPR)

Discussant: Craig Burnside (The World Bank)
17.45 – 18.15 Coffee
18.15 – 19.30 European Inflation Dynamics
Jordi Galí (Universitat Pompeu Fabra, New York University, NBER and CEPR)
Mark Gertler (New York University and NBER)
David Lopez-Salido (Banco de España and CEPR)

Discussant: James Stock (Harvard University and NBER)
20.30 – 21.45 Dinner

Tuesday, June 13
09.30 – 10.45 Gaps and Triangles
Bernardino Adão (Banco de Portugal and Instituto Superior Técnico)
Isabel Correia (Banco de Portugal, Universidade Católica Portuguesa and CEPR)
Pedro Teles (Banco de Portugal, Universidade Católica Portuguesa and CEPR)

Discussant: Lars Hansen (The University of Chicago and NBER)
10.45 – 11.00 Coffee
11.00 – 12.15 Optimal Monetary Policy
Aubhik Khan (Federal Reserve Bank of Philadelphia)
Robert King (Boston University and NBER)
Alex Wolman (Federal Reserve Bank of Richmond)

Discussant: Bill Dupor (The Wharton School of the University of Pennsylvania)
12.30 – 13.30 Lunch
15.00 – 16.15 Optimal Monetary Policy and Exchange Rate Volatility in a Small Open Economy
Jordi Galí (Universitat Pompeu Fabra, New York University, NBER and CEPR)
Tommaso Monacelli (Boston College)

Discussant: Alex Wolman (Federal Reserve Bank of Richmond)
16.15 – 16.30 Coffee
16.30 – 18.30 Policy Sessions:
Organizer: Luís Campos e Cunha (Deputy Governor, Banco de Portugal)
16.30 – 17.00 Policy Session I: Roots of the Recent Recoveries
Chairman: Luís Campos e Cunha (Deputy Governor, Banco de Portugal)
Edmund Phelps (Columbia University)
17.00 – 18.30 Policy Session II: Monetary Policy Rules
Chairman: Vítor Constâncio (Governor, Banco de Portugal)
Vítor Gaspar (European Central Bank)
Marvin Goodfriend (Federal Reserve Bank of Richmond)
Sérgio Werlang (Banco Central do Brasil)
20.15 – 22.00 Dinner

Wednesday, June 14
09.30 – 10.45 Exchange-Rate-Based versus Money-Based Systems: The Advantage of Transparency
Andrew Atkeson (University of Minnesota and NBER)
Patrick Kehoe (University of Pennsylvania, Federal Reserve Bank of Minneapolis and NBER)

Discussant: Christopher Phelan (Federal Reserve Bank of Minneapolis)
10.45 – 11.15 Coffee
11.00 – 12.15 Inside Money and Liquidity
Nobuhiro Kiyotaki (London School of Economics)
John Moore (London School of Economics)

Discussant: Harold Cole (Federal Reserve Bank of Minneapolis)
12.30 – 14.15 Lunch
14.30 – 19.00 Visit to Gerês
19.00 – 22.00 Dinner

Participants

Bernardino Adão (Banco de Portugal and Instituto Superior Técnico)

Stefania Albanesi (Northwestern University) 

Irasema Alonso (University of Rochester) 

Fernando Alvarez (University of Chicago, Universidad Torcuato Di Tella and NBER)

Nuno Alves (Banco de Portugal)

Andrew Atkeson (University of Minnesota and NBER)

António Pinto Barbosa (Universidade Nova de Lisboa) 

Luís Miguel Beleza (Banco Comercial Português) 

Craig Burnside (The World Bank)

V. V. Chari (University of Minnesota and Federal Reserve Bank of Minneapolis)

Lawrence Christiano (Northwestern University, Federal Reserve Bank of Chicago and NBER)

Harold Cole (Federal Reserve Bank of Minneapolis)

Vítor Constâncio (Banco de Portugal) 

Isabel Correia (Banco de Portugal, Universidade Católica Portuguesa and CEPR) 

Luís Campos e Cunha (Banco de Portugal) 

Bill Dupor (The Wharton School of the University of  Pennsylvania)

Martin Eichenbaum (Northwestern University, Federal Reserve Bank of Chicago and NBER)

Peter van Els (De Nederlandsche Bank)

Charles Evans (Federal Reserve Bank of Chicago)

Jordi Galí (Universitat Pompeu Fabra, New York University, NBER and CEPR)

Vítor Gaspar (European Central Bank)

Mark Gertler (New York University and NBER)

Giorgia Giovannetti (University of Firenze and European University Institute)

José António Girão (Banco de Portugal) 

Heinz Glück (Oesterreichische Nationalbank)

Marvin Goodfriend (Federal Reserve Bank of Richmond)

Lars Hansen (The University of Chicago and NBER)

Eric Jacobs (National Bank of Belgium)

Aubhik Khan (Federal Reserve Bank of Philadelphia)

Robert King (Boston University and NBER)

Nobuhiro Kiyotaki (London School of Economics)

Per Krusell (University of Rochester and Institute for International Economic Studies)

Ana Cristina Leal (Banco de Portugal)

David Lopez-Salido (Banco de España and CEPR) 

João Loureiro (Faculdade de Economia do Porto) 

Robert E. Lucas, Jr. (The University of Chicago and NBER)

Jorge Braga de Macedo (Universidade Nova de Lisboa)  

Ramon Marimon (European University Institute, CEPR and NBER) 

Abel Mateus (Banco de Portugal) 

John Moore (London School of Economics)

Andrew Neumeyer (Universidad Torcuato Di Tella)

oão César das Neves (Universidade Católica Portuguesa)

Pedro Duarte Neves (Banco de Portugal)

Juan Pablo Nicolini (Universidad Torcuato Di Tella)

Christopher Phelan (Federal Reserve Bank of Minneapolis)

Edmund Phelps (Columbia University)

Huw Pill (European Central Bank)

Maximiano Pinheiro (Banco de Portugal) 

Sérgio Rebelo (Northwestern University, NBER and CEPR)

Carlos Robalo (Banco de Portugal)

Carlos Santos (Banco de Portugal)

Martin Schneider (University of Rochester) 

Jean-Pierre Schoder (Banque Centrale du Luxembourg) 

Manuel Sebastião (Banco de Portugal) 

James Stock (Harvard University and NBER)

Nancy Stokey (The University of Chicago)

Pedro Teles (Banco de Portugal, Universidade Católica Portuguesa and CEPR)                     

Daniele Terlizzese (Banca d’Itália) 

Julia Thomas (Carnegie Mellon University)

Harald Uhlig (CentER, Tilburg University and CEPR)

Christian Upper (Deutsche Bundesbank)

Sérgio Werlang (Banco Central do Brasil) 

Alex Wolman (Federal Reserve Bank of Richmond)

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