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Financial Stability and Macroeconomic Policy


Foreword
THOMAS M. HOENIG
President, Federal Reserve Bank of Kansas City




Opening Remarks BEN S. BERNANKE
Chairman, Board of Governors of the Federal Reserve System

The Origins and Nature of Financial Crises
Author:RICARDO J. CABALLERO
Professor, Massachusetts Institute of Technology
 
Paper:The "Surprising" Origin and Nature of Financial Crises: A Macroeconomic Policy Proposal
 
Discussant:KENNETH S. ROGOFF
Professor, Harvard University
  
General Discusssion

Financial Crises and Economic Activity
Authors:STEPHEN G. CECCHETTI
Economic Adviser and Head of the Monetary and Economic Department, Bank for International Settlements
 
 CHRISTIAN UPPER
Head of Financial Markets, Bank for International Settlements
 
Paper:Financial Crises and Economic Activity
 
Discussant:MARK GERTLER
Professor, New York University
  
General Discussion

Policies to Stabilize Financial Markets
Panelists:CHARLES GOODHART
Professor, London School of Economics
  
 BRIAN F. MADIGAN
Director, Division of Monetary Affairs, Board of Governors of the Federal Reserve System
  
 JEAN-CHARLES ROCHET
Professor, University of Toulouse
  
General Discussion

Luncheon AddressSTANLEY FISCHER
Governor, Bank of Israel
  
General Discussion

Monetary Policy to Stabilize Economic Activity
Author:CARL E. WALSH
Professor, University of California, Santa Cruz
  
Paper:Using Monetary Policy to Stabilize Economic Activity 
  
Discussant:MARK J. CARNEY
Governor, Bank of Canada
  
General Discussion

Fiscal Policy to Stabilize Economic Activity
Authors:ALAN J. AUERBACH
Professor, University of California, Berkeley
  
 WILLIAM G. GALE
Vice President and Director, Economic Studies, The Brookings Institution
 
PaperActivist Fiscal Policy to Stabilize Economic Activity
 
Discussants:R. GLENN HUBBARD 
Dean, Columbia Business School, Columbia University
 
 KLAUS SCHMIDT-HEBBEL
Professor, Catholic University of Chile
  
General Discusson

The International Policy Response to Financial Crises 
Panelists:JAIME CARUANA
General Manager, Bank for International Settlements
  
 MASAAKI SHIRAKAWA
Governor, Bank of Japan
  
 JEAN-CLAUDE TRICHET
President, European Central Bank
  
General Discussion

Roster of Attendees 
 
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