The ECB and Its Watchers XV


Volker Wieland and Günter Beck (IMFS & CFS)



March 12, 2014

08:30 - <br />08:55<b>Registration and Coffee</b>
08:55 - <br />09:00<b>Welcome</b><br /><br /><LINK><i>Volker Wieland</i></LINK> (IMFS & CFS)<br />
09:00 - <br />10:30<b><i>Debate</i></b><br /><b>Current issues in and challenges for central bank communication</b><br /> a. Forward guidance in the euro area: Is it effective? Are there lessons to be learned from other countries?<br /> b. Publishing minutes of Governing Council meetings: What (if at all) should be published? Would publishing minutes increase or decrease the ECB’s effectiveness of communication? </b><br /><br />Chair: <i>Günter Beck</i> (CFS/IMFS) <br /><br />Speakers:<br /><LINK><i>Peter Praet</i></LINK> (Member of the Executive Board of the ECB)<br /><LINK><i>Charles Goodhart</i></LINK> (London School of Economics)<br /> <LINK><i>Paul Sheard</i></LINK> (Standard & Poor’s)<br /> <LINK><i>Donald Kohn</i></LINK> (Brookings Institution)<br /><br />Lead Questions:<br /><LINK ><i>Michael Melvin (BlackRock)<br />Jörg Krämer (Commerzbank)<br />Casper de Vries (Erasmus University Rotterdam)</i></LINK><br />
10:30 - <br />11:00<b>Coffee Break</b>
11:00 - <br />12:30<b><i>Debate</i></b><br /><b>Current challenges for the conduct of monetary policy in the euro area</b><br />a. Is there a „new normal“ in the euro area? Should additional unconventional policy measures be taken? Will the ECB’s exit strategy from unconventional policy measures work? Is there a role for international policy coordination in this process?<br />b. What are the economic consequences of prolonged low interest rates? <br />c. Is economic heterogeneity in the euro area rising? What problems does this impose for the common monetary policy? <br /><br />Chair: <i> Otmar Issing </i> (CFS)<br /><br />Speakers:<br /><LINK><i>Benoît Cœuré</i></LINK> (Member of the Executive Board of the ECB)<br /><LINK><i>Lars E.O. Svensson</i></LINK> (Stockholm University)<br /><LINK><i>John B. Taylor</i></LINK> (Stanford University)<br /><LINK><i>Lucrezia Reichlin</i></LINK> (London Business School)<br /><br />Lead Questions:<br /><LINK ><i>Kai Carstensen (ifo Institut)<br />Julian Callow (Catalyst Economics)<br />Joachim Scheide (IFW-Kiel)</i></LINK> <br />
12:30 - <br />14:00<b>Lunch</b>
14:00 - <br />15:30<b><i>Debate</i></b><br /><b>Challenges for the ECB resulting from its double role as monetary policy maker and financial supervisor</b><br />a. What internal governance measures are taken to separate the monetary policy and the financial supervisory function? <br />b. Are these measures adequate to minimize potential conflicts of interests between the two functions? Is the ECB’s independence sufficiently guaranteed?<br /><br />Chair: <i>Jan Pieter Krahnen</i> (CFS)<br /><br />Speakers:<br /><LINK><i> Yves Mersch </i></LINK> (Member of the Executive Board of the ECB)<br /><LINK><i>Stefan Gerlach</i></LINK> (Deputy Governor, Central Bank of Ireland)<br /><LINK><i>Nouriel Roubini</i></LINK> (Roubini Global Economics)<br /><LINK><i>Dirk Schoenmaker</i></LINK> (Duisenberg School of Finance)<br /><br />Lead Questions:<br />Daniel Gros (CEPS)<br />Natacha Valla (CEPII)</i> <br />
15:30 - <br />15:40<b>Closing Remarks</b><br />


Goethe University Frankfurt, Campus Westend, Casino Building, Festsaal
Grüneburgplatz 1, 60323 Frankfurt am Main