NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

The First 100 Years of the Federal Reserve:
The Policy Record, Lessons Learned, and Prospects for the Future

Anil Kashyap, Christina Romer, and David Romer, Organizers

July 10, 2013

Royal Sonesta Hotel
40 Edwin Land Blvd.
Cambridge, Massachusetts

PROGRAM

 

7:30 am

Coffee and pastries

 

 

8:00 am

The Conduct of Monetary Policy

 

 

 

Chair: Christina Romer, University of California at Berkeley and NBER

 

 

 

Overview Paper:   Penitence after Accusations of Error:
                             100 Years of Monetary Policy at the U.S. Federal Reserve

 

                           Julio Rotemberg, Harvard University and NBER

 

 

 

Commentators:

 

Martin Eichenbaum, Northwestern University and NBER

 

Frederic Mishkin, Columbia University and NBER

 

Carmen Reinhart, Harvard University and NBER

 

 

9:15 am

Break

 

 

9:35 am

International Coordination and Crisis Management

 

 

 

Chair: Anne Krueger, Johns Hopkins University and NBER

 

 

 

Overview Paper: Does the Fed Care About the Rest of the World?

 

                           Barry Eichengreen, University of California at Berkeley and NBER

 

 

 

Commentators:

 

Stanley Fischer, Bank of Israel and NBER

 

Randall Kroszner, University of Chicago and NBER

 

Lawrence Summers, Harvard University and NBER

 

 

10:50 am

Break

 

 

11:10 am

A Discussion with Paul Volcker

 

 

 

Moderator: Martin Feldstein, Harvard University and NBER

 

 

12:00 pm

Lunch

 

 

1:00 pm

Central Bank Design

 

 

 

Chair: David Romer, University of California at Berkeley and NBER

 

 

 

Overview Paper: Central Bank Design

 

                           Ricardo Reis, Columbia University and NBER

 

 

 

Commentators:

 

Alan Blinder, Princeton University and NBER

 

Nancy Stokey, University of Chicago and NBER

 

Jean-Claude Trichet, Group of Thirty

 

 

2:15 pm

Break 

 

 

2:35 pm

Financial Regulation

 

 

 

Chair: Anil Kashyap, University of Chicago and NBER

 

 

 

Overview Paper: The Federal Reserve and Financial Regulation:
                           The First Hundred Years

 

                           Gary Gorton, Yale University and NBER

 

                           Andrew Metrick, Yale University and NBER

 

 

 

Commentators:

 

Douglas Diamond, University of Chicago and NBER

 

Philipp Hildebrand, BlackRock

 

Donald Kohn, Bank of England and Brookings Institution

 

 

3:50 pm

Break

 

 

4:10 pm

Presentation by Ben Bernanke

 

 

 

Moderator: James Poterba, Massachusetts Institute of Technology and NBER

 

 

5:15 pm

Adjourn