Bank of Finland/SUERF Conference

Monetary Policy Approaches: A Comparative Appraisal

Conference report

Tuesday, 19 October 2021

Format: Online Conference via Teams

Program Committee

Fabian Eser, Counsellor to the Executive Board, ECB and SUERF
Ernest Gnan, Head of Economic Analysis Division, OENB and SUERF
Esa Jokivuolle, Head of Research, Bank of Finland and SUERF
Juha Kilponen, Head of Monetary Policy and Research, Bank of Finland
Christian Upper, Head of Macroeconomic Analysis, Monetary and Economic Department, BIS and SUERF

Tuesday, 19 October 2021
11:00	Welcoming address

	Esa Jokivuolle, Head of Research, Bank of Finland I SUERF Jakob De Haan, SUERF President I Professor of Political Economy, University of Groningen

11:15	Opening remarks

	Monetary Policy in the Emerging Post-Pandemic Context Olli Rehn, Governor, Bank of Finland Speech

11:45	Session I: “(Un)conventional approaches”

	Chair: Juha Kilponen, Head of Monetary Policy and Research, Bank of Finland Central banks’ objectives, targets, and tools Klaus Adam, Professor, University of Mannheim, CEPR, CESIfo pdf - presentation Monetary policy and financial stability Oreste Tristani, Senior Adviser, ECB pdf - presentation Indebted demand and implications for monetary policy Ludwig Straub, Professor, Harvard University pdf - presentation

13:15	Lunch and Poster Session
	During lunch break you may follow a Poster Session chaired by Esa Jokivuolle, Head of Research, Bank of Finland and SUERF Poster Session: Analysing communication to infer policy-makers" intentions and preferences Paper 1: Reading between the Lines: Using Text Analysis to Estimate the Loss Function of the ECB Maritta Paloviita, Markus Haavio, Pirkka Jalasjoki, Juha Kilponen and Ilona Vänni, Bank of Finland pdf - presentation Paper 2: Who Talks During Monetary Policy Quiet Periods, and Why? Evidence from the European Central Bank"s Governing Council Phillipp Gnan, WU Vienna, Institute for Finance, Banking and Insurance Kilian Rieder, Österreichische Nationalbank pdf- presentation


14:15	Session II: “Central banks in a changing world”

	Chair: Ernest Gnan, Head of Economic Analysis Division, OeNB and SUERF Central banks and climate change Anna Breman, Deputy Governor, Sveriges Riksbank presentation - pdf Monetary policy and inequality Fiorella De Fiore, Head of Monetary Policy, BIS pdf - presentation Policy interactions between monetary and fiscal policies Leonardo Melosi, Senior Economist, Economic Advisor, Federal Reserve Bank of Chicago pdf - presentation

15:45	Virtual coffee break

16:00	Session III Panel: “Experiences from central banks’ strategy reviews”

	Chair: Tuomas Välimäki, Member of the Board, Bank of Finland Philip Lane, Member of the Executive Board, ECB Andrew Levin, Professor of Economics, Dartmouth College Patricia C. Mosser, Director, Columbia University

17:15	End

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Monetary Policy Approaches: A Comparative Appraisal

Conference report