{ "title": "High-Level Seminar: Implementing Inflation Targets", "publication": "IMF Seminars, January 1, 1901", "sourceUrl": "https://www.imf.org/ja/news/seminars/conferences/2016/12/31/high-level-seminar-implementing-inflation-targets", "canonical": "https://www.imf.org/ja/news/seminars/conferences/2016/12/31/high-level-seminar-implementing-inflation-targets", "overlayPath": "/ja/news/seminars/conferences/2016/12/31/high-level-seminar-implementing-inflation-targets/index.md", "summary": "$name Conference Agenda Speakers and Discussants conference@imf.", "publishDate": "0001-01-01", "sections": [ { "heading": "Event overview", "content": "- The High-Level Seminar: Implementing Inflation Targets was sponsored by the IMF Institute and held at IMF Headquarters, Washington, D.C., Multipurpose Room, B-702, March 20-21, 2000. \n- Participation by invitation only. \n- The seminar examined reforms needed before establishing an inflation targeting framework; appropriate monetary policy under monetary and inflation targeting; experiences of Canada, Israel, New Zealand, and the United Kingdom with inflation targeting; and the transitions of Mexico and Brazil to inflation-targeting frameworks. \n- A book available on the topic is Inflation Targeting in Practice: Strategic and Operational Issues and Application to Emerging Market Economies, edited by Mario I. Blejer, Alain Ize, Alfredo Leone, and Sérgio Werlang." }, { "heading": "Conference agenda and schedule", "content": "- Monday, March 20\n - 9:00 a.m.-9:15 a.m. — Welcoming Remarks -- Mohsin S. Khan (IMF)\n - 9:15 a.m.-9:45 a.m. — Opening Remarks -- Stanley Fischer (IMF)\n - 10:00 a.m.-11:15 a.m. — Chair: Michael Mussa; Topic: Monetary Rules; Speaker: Bennett McCallum (Carnegie-Mellon University); Discussant: Vincent Reinhart (Federal Reserve Board). Materials noted: \"Monetary Rules (180 k pdf file)\" and \"Background Paper: Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates (180 k pdf file)\"\n - 11:15 a.m.-12:30 p.m. — Topic: Monetary Policy Under Inflation Targeting; Speaker: Lars Svensson (Stockholm University); Discussant: Timothy Lane (IMF)\n - 2:00 p.m.-3:00 p.m. — Chair: Tomás Baliño (IMF); Topic: Inflation Targeting in Canada; Speaker: Charles Freedman (Bank of Canada)\n - 3:00 p.m.-4:00 p.m. — Topic: Inflation Targeting in New Zealand; Speaker: David Archer (Reserve Bank of New Zealand)\n - 4:15 p.m.-5:15 p.m. — Chair: Mohsin Khan (IMF); Topic: Inflation Targeting in the United Kingdom; Speaker: Andrew Haldane (Bank of England). Materials noted: \"(71 k pdf file)\" and \"Background Paper: Targeting Inflation: The UK in Retrospect (46 k pdf file)\"\n- Tuesday, March 21\n - 9:00 a.m.-10:00 a.m. — Chair: Peter Montiel (IMF); Topic: Inflation Targeting in Israel; Speaker: Leonardo Leiderman (Bank of Israel and Tel Aviv University). Material noted: \"Inflation Targeting in Israel (422 k pdf file)\" and \"Background Paper: Inflation Targeting Under a Crawling Band Exchange Rate Regime: Lessons from Israel\"\n - 10:15 a.m.-11:15 a.m. — Chair: Claudio Loser (IMF); Topic: Inflation Targeting in Mexico; Speakers: Agustin Carstens (IMF) and Alejandro Werner (Bank of Mexico). Background Paper: \"Mexico's Monetary Policy Framework Under a Floating Exchange Rate Regime (422 k pdf file)\"\n - 11:15 a.m.-12:15 p.m. — Topic: Inflation Targeting in Brazil; Speaker: Sérgio Werlang (Central Bank of Brazil). Material noted: \"Inflation Targeting in Brazil (433 k pdf file)\" and \"Background Paper: Issues in the Adoption of an Inflation Targeting Framework in Brazil\"\n - 12:15 p.m.-12:45 p.m. — Conclusions on Inflation Targeting\n - 12:45 p.m.-1:00 p.m. — Closing Remarks; Presentation by Eduardo Aninat (IMF)" }, { "heading": "Key themes and substantive focus", "content": "- Transition and implementation challenges:\n - Reforms required before establishing an inflation targeting framework.\n - Operational and strategic issues for inflation targeting in emerging market economies.\n- Monetary policy design:\n - Monetary rules and implications of a zero lower bound on nominal interest rates.\n - Appropriate conduct of monetary policy under monetary and inflation targeting regimes.\n- Country experiences and case studies:\n - Detailed sessions on Canada, New Zealand, the United Kingdom, Israel, Mexico, and Brazil addressing practical experiences, transitions, and lessons learned." }, { "heading": "Materials and outputs", "content": "- Conference papers were to be posted as they became available; papers were draft and unedited. \n- Specific file-size references for materials were noted where applicable: 180 k pdf file; 71 k pdf file; 46 k pdf file; 422 k pdf file; 433 k pdf file. \n- Contact for the conference: conference@imf.org. \n- Note: Use the free Adobe Acrobat Reader to view PDF files; general tips for using PDF files were provided." } ], "bullets": [ "The High-Level Seminar: Implementing Inflation Targets was sponsored by the IMF Institute and held at IMF Headquarters, Washington, D.C., Multipurpose Room, B-702, March 20-21, 2000.", "Participation by invitation only.", "The seminar examined reforms needed before establishing an inflation targeting framework; appropriate monetary policy under monetary and inflation targeting; experiences of Canada, Israel, New Zealand, and the United Kingdom with inflation targeting; and the transitions of Mexico and Brazil to inflation-targeting frameworks.", "A book available on the topic is Inflation Targeting in Practice: Strategic and Operational Issues and Application to Emerging Market Economies, edited by Mario I. Blejer, Alain Ize, Alfredo Leone, and Sérgio Werlang.", "Monday, March 20", "Tuesday, March 21", "Transition and implementation challenges:", "Monetary policy design:", "Country experiences and case studies:", "Conference papers were to be posted as they became available; papers were draft and unedited.", "Specific file-size references for materials were noted where applicable: 180 k pdf file; 71 k pdf file; 46 k pdf file; 422 k pdf file; 433 k pdf file.", "Contact for the conference: conference@imf.org.", "Note: Use the free Adobe Acrobat Reader to view PDF files; general tips for using PDF files were provided.", "[Carstenspdf (PDF)](/-/media/websites/imf/imported-events/external/pubs/ft/seminar/2000/targets/_carstenspdf.pdf){rel=\"external\" type=\"application/pdf\"}", "[Haldanepdf (PDF)](/-/media/websites/imf/imported-events/external/pubs/ft/seminar/2000/targets/_haldanepdf.pdf){rel=\"external\" type=\"application/pdf\"}", "[Leidermnpdf 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