ECB Workshop on Non-standard monetary policy measures: Lessons from recent international experience - Montesquieu Institute

Deadline for submission: 31 March 2012

Purpose

Central banks around the world have recently engaged in substantial purchases of public and private financial assets and in other non-standard monetary policy measures. The workshop aims at bringing together central bankers and academics to discuss the design, the theoretical underpinning and the effectiveness of the various asset purchase programmes implemented in recent years. Confirmed speakers so far include Andrew Ang (Columbia University), Giancarlo Corsetti (University of Cambridge) and Harald Uhlig (University of Chicago).

Topics

Submissions are welcome on issues related to the following themes:

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  Theoretical work on the monetary policy transmission channels and the effectiveness of asset purchase programmes and other non-standard monetary policy measures
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  Empirical evidence on the effects of such programmes and measures on government bond yields, corporate bond yields, other asset prices, lending and the real economy
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  The interaction between banks’ capital and liquidity shortfalls, as well as the role of non-standard measures in this interaction
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  The interactions between fiscal policy and monetary policy, including the cross-country dimension of such interactions in the euro area
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  Monetary policy implications of the size and composition of the balance sheets of central banks
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  Risks and possible distortions associated with the protracted use of non-standard monetary policy measures

Submissions

Authors are encouraged to submit papers on the above-mentioned topics. Submissions must comprise a full paper or an extended abstract and should be sent in PDF format to NSMWorkshop@ecb.europa.eu no later than 31 March 2012. Authors of accepted papers will be notified by mid-April 2012. The final versions of conference papers must be sent to the same e-mail address by 25 May 2012.

Organisational information

Attendance of the workshop is by invitation only. It will start in the afternoon of Monday 25 June 2012 and end at 6.30 p.m. on Tuesday 26 June 2012. A dinner is planned for the evening of the first day.

Expenses

The travel (economy fare) and accommodation expenses of academic speakers and discussants will be reimbursed.

Conference organisers

Simone Manganelli, Roberto Motto and Oreste Tristani (all ECB).