The financial crisis has led to dramatic changes to the monetary policy implementation framework of number of central banks. Many countries have experienced very low interest rates for several years and some have pushed interest rates into negative territory. New regulations are having a profound effect on money markets.
As central bankers reflect on their monetary policy implementation framework in the years to come, what lessons can they draw from the crisis and the long period of very low rates since? What questions need to be answered to determine whether some of the new aspects of monetary policy implementation introduced since the crisis should be kept? What factors are most important in determining the “new normal” in monetary policy implementation?
This workshop brought together international experts in monetary policy design and implementation–academics, industry experts, as well as current and former central bankers–to reflect on key lessons from the post-crisis experience and brainstorm to develop a research agenda to inform future monetary policy implementation developments.
Wednesday, May 4, 2016
10 am to 5 pm
Columbia University, International Affairs Building, Room 1501
420 West 118th Street, New York, NY 10027