## High-Level Seminar: Implementing Inflation Targets _IMF Seminars, January 1, 1901_ ## Source details **Canonical URL:** [High-Level Seminar: Implementing Inflation Targets](https://www.imf.org/ja/news/seminars/conferences/2016/12/31/high-level-seminar-implementing-inflation-targets) ## Other formats - [Markdown version](/ja/news/seminars/conferences/2016/12/31/high-level-seminar-implementing-inflation-targets/index.md) - [Structured JSON version](/ja/news/seminars/conferences/2016/12/31/high-level-seminar-implementing-inflation-targets/index.json) - [Bundle manifest](/ja/news/seminars/conferences/2016/12/31/high-level-seminar-implementing-inflation-targets/bundle-manifest.json) ## Bibliographic details - Published: January 1, 1901 --- ### Event overview - 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. ### Conference agenda and schedule - Monday, March 20 - 9:00 a.m.-9:15 a.m. — Welcoming Remarks -- Mohsin S. Khan (IMF) - 9:15 a.m.-9:45 a.m. — Opening Remarks -- Stanley Fischer (IMF) - 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)" - 11:15 a.m.-12:30 p.m. — Topic: Monetary Policy Under Inflation Targeting; Speaker: Lars Svensson (Stockholm University); Discussant: Timothy Lane (IMF) - 2:00 p.m.-3:00 p.m. — Chair: Tomás Baliño (IMF); Topic: Inflation Targeting in Canada; Speaker: Charles Freedman (Bank of Canada) - 3:00 p.m.-4:00 p.m. — Topic: Inflation Targeting in New Zealand; Speaker: David Archer (Reserve Bank of New Zealand) - 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)" - Tuesday, March 21 - 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" - 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)" - 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" - 12:15 p.m.-12:45 p.m. — Conclusions on Inflation Targeting - 12:45 p.m.-1:00 p.m. — Closing Remarks; Presentation by Eduardo Aninat (IMF) ### Key themes and substantive focus - Transition and implementation challenges: - Reforms required before establishing an inflation targeting framework. - Operational and strategic issues for inflation targeting in emerging market economies. - Monetary policy design: - Monetary rules and implications of a zero lower bound on nominal interest rates. - Appropriate conduct of monetary policy under monetary and inflation targeting regimes. - Country experiences and case studies: - Detailed sessions on Canada, New Zealand, the United Kingdom, Israel, Mexico, and Brazil addressing practical experiences, transitions, and lessons learned. ### Materials and outputs - 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. --- ## Content in this bundle - [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 (PDF)](/-/media/websites/imf/imported-events/external/pubs/ft/seminar/2000/targets/_leidermnpdf.pdf){rel="external" type="application/pdf"} - [Mccallpdf (PDF)](/-/media/websites/imf/imported-events/external/pubs/ft/seminar/2000/targets/_mccallpdf.pdf){rel="external" type="application/pdf"} - [Mccallumpdf (PDF)](/-/media/websites/imf/imported-events/external/pubs/ft/seminar/2000/targets/_mccallumpdf.pdf){rel="external" type="application/pdf"} - [Strach11pdf (PDF)](/-/media/websites/imf/imported-events/external/pubs/ft/seminar/2000/targets/_strach11pdf.pdf){rel="external" type="application/pdf"} - [Strach7pdf (PDF)](/-/media/websites/imf/imported-events/external/pubs/ft/seminar/2000/targets/_strach7pdf.pdf){rel="external" type="application/pdf"} - [Strach9pdf (PDF)](/-/media/websites/imf/imported-events/external/pubs/ft/seminar/2000/targets/_strach9pdf.pdf){rel="external" type="application/pdf"} - [Werlangpdf (PDF)](/-/media/websites/imf/imported-events/external/pubs/ft/seminar/2000/targets/_werlangpdf.pdf){rel="external" type="application/pdf"} --- ## References - [Speakers and Discussants](https://www.imf.org/ja/news/seminars/conferences/2016/12/31/speakers.htm) - [Adobe Acrobat Reader](https://www.imf.org/adobe) _Source: https://www.imf.org/ja/news/seminars/conferences/2016/12/31/high-level-seminar-implementing-inflation-targets_