XI Conferencia Anual del Banco Central de Chile

Monetary Policy under Uncertainty and Learning

Thursday, November 15, and Friday, November 16, 2007. Santiago, Chile

Session I Opening Remarks (Session in Spanish, with translation)

Opening Remarks

Vittorio CorboGovernor, Central Bank of Chile

Session II Keynote Address

Evolution and Intelligent Design

Thomas SargentNew York University

Session III Monetary Policy under Model Uncertainty

Optimal Monetary Policy under Model Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach

Lars E.O. SvenssonPrinceton University

Noah WilliamsPrinceton University

Imperfect Knowledge and the Pitfalls of Optimal Control Policy

Athanasios OrphanidesCentral Bank of Cyprus

John WilliamsFederal Reserve Bank of San Francisco

Session IV Learning, Stability, and Equilibrium in Monetary Policy Models

Robust Learning Stability with Operational Monetary Policy Rules

George EvansUniversity of Oregon

Seppo HonkapohjaCambridge University

Macroeconomic and Monetary policies from the ‘Eductive’ Viewpoint

Roger GuesnerieCollege de France

Session V Monetary Policy Transparency, Credibility, and Learning

Monetary Policy Credibility and the Macroeconomy

Martin MeleckyDe Nederlandsche Bank

Diego Rodríguez PalenzuelaEuropean Central Bank

Ulf SöderströmBocconi University

Learning, Endogenous Indexation and Disinflation in the New Keynesian Model

Volker WielandJ.W.Goethe University of Frankfurt

Session VI Determinacy and Learning in Monetary Policy

Determinacy and Learnability in Monetary Policy Analysis: Additional Results

Bennett T. McCallumCarnegie Mellon University

Session VII Sticky Information and Model Misspecification

A Few Model-Based Answers to Monetary Policy Questions in the United States and the Euro Area

Ricardo ReisPrinceton University

Inflation Dynamics in a Small Open Economy Model under Inflation Targeting

Marco Del NegroFederal Reserve Bank of New York

Frank SchorfheideUniversity of Pennsylvania

Session IX Unobservables in the World

Monetary Policy and Key Unobservables in the G-3 and Selected Inflation- Targeting Countries

Klaus Schmidt-HebbelCentral Bank of Chile

Carl WalshUniversity of California at Santa Cruz

Session X Implications of Model and Data Uncertainty for Monetary Policy and Macro Adjustment in Chile

Sources of Uncertainty in Chilean Monetary Policy

Felipe MorandéUniversidad de Chile

Mauricio TejadaUniversidad de Chile

Overoptimism, Boom-Bust Cycles and Monetary Policy in Small Open Economies

Manuel MarfánCentral Bank of Chile

Juan Pablo MedinaCentral Bank of Chile

Jorge SelaiveCentral Bank of Chile

Claudio SotoCentral Bank of Chile