Monetary Rules for a Post-Crisis World

Conference
September 7, 2016
9:00AM to 5:00PM
George Mason University, Arlington VA
Featuring John B. Taylor, Mary and Robert Raymond Professor of Economics, Stanford University and George P. Shultz Senior Fellow in Economics, Hoover Institution; David Laidler, Professor Emeritus of Economics, University of Western Ontario; Mark Calabria, Director of Financial Regulation Studies, Cato Institute; Scott Sumner, Ralph G. Hawtrey Chair of Monetary Policy and Director, Program on Monetary Policy, Mercatus Center and Professor of Economics at Bentley University; David Papell, Joel W. Sailors Endowed Professor of Economics and Chair, Department of Economics, University of Houston; Perry Mehrling, Professor of Economics, Barnard College, Columbia University; Kevin Sheedy, Assistant Professor of Economics, London School of Economics; Walker F. Todd, Trustee, American Institute for Economic Research, and former Assistant General Counsel and Economics Officer, Federal Reserve Bank of Cleveland; David Beckworth, Senior Research Fellow, Program on Monetary Policy, Mercatus Center; Peter Ireland, Murray and Monti Professor of Economics, Boston College; Miles Kimball, Professor of Economics and Research Professor of Survey Research, University of Michigan Department of Economics and Survey Research Center; George Selgin, Director, Center for Monetary and Financial Alternatives, Cato Institute; David Glasner, Economist, Federal Trade Commission
Monetary Rules for a Post-Crisis World

Central banks’ part in the Great Recession, and the lackluster recovery since, are reviving interest in monetary rules. That revival raises crucial questions. Might the Federal Reserve and other central banks have performed better if they’d adhered to monetary policy rules? Could rules have avoided the crisis altogether? Can they avoid future crises? If so, which rules work best? Can a monetary policy rule work even in a world of near-zero, or negative, interest rates?

On September 7, the Mercatus Center at George Mason University and the Cato Institute’s Center for Monetary and Financial Alternatives will team up for a day-long academic conference, hosting a distinguished group of scholars, to explore these pressing questions about monetary policy rules. Four panels will discuss:

8:30 - 9:00AM REGISTRATION & BREAKFAST

9:00 - 9:10AM WELCOMING REMARKS

Scott Sumner, Ralph G. Hawtrey Chair of Monetary Policy and Director, Program on Monetary Policy, Mercatus Center at George Mason University and Professor of Economics at Bentley University
9:10 - 10:40AM PANEL I: THE EVOLVING CASE FOR MONETARY POLICY RULES

Mark A. Calabria, Director, Financial Regulation Studies, Cato Institute

David Glasner, Economist, Federal Trade Commission

David Laidler, Professor Emeritus of Economics, University of Western Ontario


Moderator: Ylan Q. Mui, Reporter, The Washington Post
10:40 - 11:00AM BREAK
11:00AM - 12:30PM PANEL II: MONETARY RULES AND MONETARY STABILITY

Robert Hetzel, Staff Economist, Federal Reserve Bank of Richmond

David Papell, Joel W. Sailors Endowed Professor of Economics and Chair, Department of Economics, University of Houston

Scott Sumner, Ralph G. Hawtrey Chair of Monetary Policy and Director, Program on Monetary Policy, Mercatus Center at George Mason University and Professor of Economics at Bentley University


Moderator: Ryan Avent, Economics Senior Editor and Free Exchange Columnist, The Economist
12:30 - 2:0PM LUNCHEON ADDRESS

John B. Taylor, Mary and Robert Raymond Professor of Economics, Stanford University and George P. Shultz Senior Fellow in Economics, Hoover Institution
2:00 - 3:30PM PANEL III: MONETARY RULES AND EMERGENCY LENDING

Perry Mehrling, Professor of Economics, Barnard College, Columbia University

Kevin Sheedy, Assistant Professor of Economics, London School of Economics

Walker F. Todd, Trustee, American Institute for Economic Research, and former Assistant General Counsel and Economics Officer, Federal Reserve Bank of Cleveland


Moderator: Cardiff Garcia, US Editor, FT Alphaville
3:30 - 3:50PM BREAK
3:50 - 5:20PM PANEL IV: MONETARY RULES IN LIGHT OF THE CRISIS

David Beckworth, Senior Research Fellow, Program on Monetary Policy, Mercatus Center at George Mason University

Miles Kimball, Professor of Economics and Research Professor of Survey Research, University of Michigan Department of Economics and Survey Research Center

Peter Ireland, Murray and Monti Professor of Economics, Boston College

Moderator: Greg Ip, Chief Economics Commentator, The Wall Street Journal
5:20 - 5:30PM CLOSING THOUGHTS

George Selgin, Director, Center for Monetary and Financial Alternatives, Cato Institute and Professor Emeritus of Economics, University of Georgia
5:30 - 6:30PM UNRUL(E)Y RECEPTION

For more details and to register, please click here.