Flexible Inflation Targeting: Advancing the Frontiers of Monetary Policy


Moderator: Greg Ip


Greg Ip is the Chief Economics Commentator for The Wall Street Journal. He writes about U.S. and global economic developments and policy in the weekly Capital Account column and on Real Time Economics, the Wall Street Journal’s economics blog. Previously, he work ed as U.S. economics editor for The Economist and he was a reporter for The Wall Street Journal. Greg has won or shared in several prizes for journalism. He is the author of “The Little Book of Economics: How the Economy Works in the Real World” (Wiley, 2010) and “Foolproof: Why Safety Can Be Dangerous and How Danger Makes Us Safe,” (Little, Brown, 2015). He holds a B.Sc. in Economics and Journalism from Carleton University.

Tobias Adrian


Tobias Adrian is the Financial Counsellor and Director of the Monetary and Capital Markets Department of the International Monetary Fund (IMF). In this capacity, he leads the IMF’s work on financial sector surveillance, monetary and macroprudential policies, financial regulation, debt management, and capital markets. He also oversees capacity building activities in IMF member countries, particularly with regard to the supervision and regulation of financial systems, central banking, monetary and exchange rate regimes, and asset and liability management.

Prior to joining the IMF, Mr. Adrian was a Senior Vice President of the Federal Reserve Bank of New York and the Associate Director of the Research and Statistics Group. At the Federal Reserve, he contributed to monetary policy, financial stability policies, and crisis management.

Mr. Adrian taught at Princeton University and New York University and has published extensively in economics and finance journals, including the American Economic Review, Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. His research spans asset pricing, financial institutions, monetary policy, and financial stability, with a focus on aggregate consequences of capital markets developments.

Mr. Adrian holds a Ph.D. from the Massachusetts Institute of Technology, an MSc from the London School of Economics, a Diplom from Goethe University Frankfurt, and a Maîtrise from Dauphine University Paris. He received his Abitur in Literature and Mathematics from Humboldtschule Bad Homburg.

Ilan Goldfajn


Ilan Goldfajn has been Governor of the Central Bank of Brazil since 2016. He is also a member of the BIS Board of Directors. He was Chief Economist at Itaú Unibanco from April 2009 to May 2016,  Deputy Governor for Economic Policy at Banco Central do Brasil from September 2000 to July 2003, and has also held academic positions at Pontifícia Universidade Católica do Rio de Janeiro and Brandeis University.

Mr. Goldfajn holds a PhD in Economics from Massachusetts Institute of Technology and a Master degree in Economics from Pontifícia Universidade Católica do Rio de Janeiro.

Lars Svensson


Professor Lars E.O. Svensson is Affiliated Professor at the Stockholm School of Economics since May 2013. He was Deputy Governor of Sveriges Riksbank(the central bank of Sweden) during May 2007-May 2013, Professor of Economics at Princeton University during 2001-2009, and Professor of International Economics at the Institute for International Economic Studies (IIES), Stockholm University during 1984-2003. He has published extensively in scholarly journals on monetary economics and monetary policy, exchange-rate theory and policy, and general international macroeconomics. He has held visiting positions and lectured at universities, central banks, and international organizations in several countries. He received his Ph.D. in economics from Stockholm University.

Zdenek Tuma


Zdenek Tuma (1960) graduated from the University of Economics, Prague, later on he finished postgraduate studies at the Czechoslovak Academy of Sciences. At the beginning of the 1990s, he participated in the effort to reintroduce economics education at the Charles University where he was appointed an associate professor. He continues lecturing at Charles University until today; in his academic career, he focuses on central banking and financial regulation. During his professional career, he was the chief economist in the investment bank Patria Finance, in 1998 he left for the EBRD as a member of the Executive Board, in 1999 he was appointed vice-governor of the Czech National Bank. In December 2000, he took over the position of governor; in this position he served two terms, till 2010. At present, he is a partner in KPMG Czech Republic responsible for financial services. He is a member in a number of scientific boards at various universities.

Ksenia Yudaeva


Ms. Ksenia Yudaeva is the First Deputy Governor of Bank of Russia since September 2013 and a member of the Bank of Russia Board of Directors since 18 October 2013. Before this, she was the Chief of the Experts’ Directorate to the Presidential Administration in Moscow from 2012 to 2013. Prior to this, she worked at the Sberbank Centre for Macroeconomic Researches in Moscow as Director, Chief economist and senior advisor to the President from 2008 to 2012.

Ms. Yudaeva was awarded the Order of Honour, and commendation of the President of the Russian Federation. She holds a Ph.D. in Economics from the Massachusetts Institute of Technology and graduated from the M.V. Lomonosov Moscow State University in 1992.

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