General Equilibrium and Monetary Transmission - Programme

Session 1: Liquidity Effects

Scott Hendry, (Bank of Canada)
'Liquidity Effects and Market Frictions'
Discussant Michiel Keyzer (Free University Amsterdam)

Carsten Folkertsma, (De Nederlandsche Bank)
'Nominal Wage Contracts, Adjustment Costs and Real Persistence of Monetary Shocks'   
Discussant Javier Valles (Bank of Spain) 

Session 2: Nominal Rigidities

Torben Andersen, (University of Aarhus)
'Consumption Smoothing, Nominal Wage Inertia and the PPP Puzzle' 
Discussant Hans Timmer (Netherlands Bureau for Economic Policy Analysis)

Guido Ascari, (European University Institute)
'Relative Wage Concern: the Missing Piece in the Contract Multiplier'   
Discussant Phillipe Moutot (ECB)

Session 3: Studies on Monetary Policy Rules

Lawrence Christiano, (Northwestern University)
'Taylor Rules in a Simple Limited Participation Model' 
Discussant Douglas Laxton (IMF)

Christopher Sims, (Yale University)
'The Precarious Fiscal Foundations of EMU'   
Discussant Renato Filosa (BIS) 

Session 4: Empirical Studies of Monetary Transmission in Europe

Frank Smets, (BIS)
'The Exchange Rate and the Monetary Transmission Mechanism in Germany' 
Discussant Antti Ripatti (Bank of Finland)

Peter Vlaar, (DNB)
'Monetary Transmission and Controllability of Money in Europe: a Structural Vector Error Correction Approach'   
Discussant G√ľnther Coenen (ECB)