Joint Central Banker's Conference: Day Ahead Conference - November 15, 2012
Interactions Between Monetary Policy, Fiscal Policy, and Financial Stability
Conference jointly sponsored by the Bank of Canada, the Swiss National Bank, the Federal Reserve Bank of Cleveland, and the Federal Reserve Bank of Atlanta
Thursday, November 15
David Altig, Senior Vice President and Director of Research, Federal Reserve Bank of Atlanta
Session 1: Monetary and Fiscal Policy Interactions in Low Interest Rate Environments
"Fiscal Multipliers under an Interest Rate Peg of Deterministic vs. Stochastic Duration"
Charles Carlstrom, Federal Reserve Bank of Cleveland
Session 2: Financial Stability and Fiscal Policy in Europe: The Examples of Spain and Switzerland (Presentations and Roundtable Discussion)
Jorge Sicilia, BBVA
Juan Rubio-Ramirez, Duke University
Daniel Heller, Swiss National Bank [Presentation]
Session 3: Current Issues in Financial Stability and Monetary Policy
"The Liquidity Coverage Ratio and Monetary Policy Implementation"
Todd Keister, Rutgers University
"Repos, Fire Sales, and Bankruptcy Policy"
Ed Nosal, Federal Reserve Bank of Chicago
Session 4: Interactions Between Monetary Policy, Fiscal Policy, and Financial Policy (Presentations and Roundtable Discussion)
Participants: James Bullard, President, Federal Reserve Bank of St. Louis; Allan Crawford, Adviser to the Governor, Bank of Canada; and Thomas Moser, Member, Enlarged Governing Board of the Swiss National Bank
Reception, New Orleans Branch building
Presentation and general discussion
Dennis Lockhart, President of the Federal Reserve Bank of Atlanta