The ECB and its Watchers

Organization

Axel A. Weber (Director, Center for Financial Studies)

Program

June 17, 1999

09:00 a.m. - 09:15 a.m. <b>Welcome Address</b><br><br><link http://www.bundesbank.de/aufgaben/aufgaben_vorstand_weber.php>Axel A. Weber</link> (Director, Center for Financial Studies)
09:15 a.m. - 10:15 a.m. <b>The ECB's Monetary Policy Strategy</b><br><br>Ignazio Angeloni (European Central Bank)<br>Vitor Gaspar (European Central Bank)<br>Oreste Tristani (European Central Bank)<br><br>General Discussion
10:15 a.m. - 11:00 a.m. <b>1st Group: Centre for Economic Policy Research (CEPR)</b><br><br>David Begg (Birkbeck College)<br><br>General Discussion
11:00 a.m. - 11:30 a.m. <b>Coffee Break</b>
11:30 a.m. - 12:15 p.m. <b>2nd Group: Zentrum für Europäische Integrationsforschung (ZEI)</b><br><br>Jürgen von Hagen (ZEI, University of Bonn)<br><br>General Discussion
12:15 p.m. - 01:00 p.m. <b>3rd Group: Centre for European Policy Studies (CEPS)</b><br><br>Daniel Gros (Center for European Policy Studies)<br>Thomas Mayer (Goldman-Sachs)<br><br>General Discussion
01:00 p.m. <b>Lunch</b>
<b>On the Theory of Monetary Policy Strategy</b>
02:30 p.m. - 03:30 p.m. <b>Interest Rate Rules</b><br><br><link http://www.stanford.edu/~johntayl/>John Taylor</link> (Stanford University)<br><br><i>Discussant:</i> <link http://econ.lse.ac.uk/staff/cbean/index_own.html>Charles Bean</link> (London School of Economics)<br><br><i>Discussant:</i> Stefan Gerlach (Bank for International Settlements)
03:30 p.m. - 04:30 p.m. <b>Inflation Targeting</b><br><br><link http://www.princeton.edu/~svensson/>Lars E.O. Svensson</link> (Institute for International Economic Studies)<br><br><i>Discussant:</i> <link http://www.economics.ox.ac.uk/Faculty/EconDetails.asp?Detailno=77>David Vines</link> (Oxford University)<br><br><i>Discussant:</i> Frank Smets (European Central Bank)
04:30 p.m. - 05:00 p.m. <b>Coffee Break</b>
05:00 p.m. - 06:00 p.m. <b>The ECB and Its Watchers</b><br><br><link http://www.ecb.int/ecb/orga/decisions/html/cvissing.en.html>Otmar Issing</link> (European Central Bank)
07:30 p.m. <b>Conference Dinner at Hotel Hessischer Hof, Friedrich-Ebert-Anlage 40</b>
<br><br>

June 18, 1999

09:00 a.m. - 09:10 a.m. <b>Welcome Address</b><br><br>Ernst Welteke (Landeszentralbank in Hessen)
<b>The ECB, Financial Supervision and the Lender of Last Resort Function</b>
09:10 a.m. - 09:55 a.m. <b>4th Group: European Shadow Financial Regulatory Committee (ESFRC)</b><br><br>Harald Benink (University of Maastricht)<br><link http://www.finance.uni-frankfurt.de/schmidt/index.php?lg=&men=2&case=prof>Reinhard H. Schmidt</link> (University of Frankfurt)<br><br>General Discussion
09:55 a.m. - 10:40 a.m. <b>The International Role of the Euro</b><br><br><i>Short Opening Statements:</i><br>Philipp Hartmann (European Central Bank)<br><link http://www.richmondfed.org/research/research_economists/marvin_goodfriend.cfm>Marvin Goodfriend</link> (Federal Reserve Bank of Richmond)<br>Kunio Matsuda (Bank of Japan)<br><link http://www.iue.it/Personal/Artis/>Michael Artis</link> (European University Institute)<br><br>General Discussion
10:40 a.m. - 11:00 a.m. <b>Coffee Break</b>
11:00 a.m. - 11:45 a.m. <b>Monetary/Fiscal Policy Coordination</b><br><br><i>Short Opening Statements:</i><br>Gert Jan Hogeweg (European Central Bank)<br><link http://www.georgetown.edu/faculty/canzonem/canzoneri.htm>Matthew B. Canzoneri</link> (Georgetown University)<br>Ignazio Visco (OECD)<br>Tony Yates (Bank of England)<br>Jürgen Kröger (European Commission)<br><br>General Discussion
11:45 a.m. - 12:45 p.m. <b>Concluding Policy Panel: The ECB and the Challenges Ahead</b><br><br><i>Chair:</i>Axel A. Weber (Director, Center for Financial Studies)<br><br>Daniel Gros (Center for European Policy Studies)<br>Harald Benink (University of Maastricht)<br><link http://www.iiw.uni-bonn.de/institut.mitarbeiter.neumann.html>Manfred J.M. Neumann</link> (University of Bonn)<br>Vitor Gaspar (European Central Bank)
01:00 p.m. <b>Luncheon Speech</b><br><br>Tommaso Padoa-Schioppa (European Central Bank)