{ "title": "High-Level Seminar: Implementing Inflation Targets", "publication": "IMF Seminars, January 1, 1901", "sourceUrl": "https://www.imf.org/zh/news/seminars/conferences/2016/12/31/high-level-seminar-implementing-inflation-targets", "canonical": "https://www.imf.org/zh/news/seminars/conferences/2016/12/31/high-level-seminar-implementing-inflation-targets", "overlayPath": "/zh/news/seminars/conferences/2016/12/31/high-level-seminar-implementing-inflation-targets/index.md", "summary": "$name 研讨会 Conference Agenda Speakers and Discussants conference@imf.", "publishDate": "0001-01-01", "sections": [ { "heading": "Event overview and objectives", "content": "- Sponsored by the IMF Institute; held at IMF Headquarters, Washington, D.C., Multipurpose Room, B-702.\n- Dates: March 20-21, 2000.\n- Participation: Participation by invitation only.\n- Purpose: To examine issues arising from the shift toward explicit inflation targets, including:\n - Reforms countries need before establishing an inflation-targeting framework.\n - Appropriate monetary policy under monetary and inflation targeting.\n - Country experiences with inflation targeting in Canada, Israel, New Zealand, the United Kingdom, Mexico, and Brazil.\n- Conference materials: Conference papers and brief biographical information on each participant were to be posted as they became available; papers noted as draft and unedited.\n- Associated publication: 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": "Key topics and analytical themes", "content": "- Historical context: Followed the high-inflation years of the late 1970s and early 1980s and the subsequent global trend toward relative price stability attributed partly to adoption of inflation targets.\n- Policy design and implementation:\n - Preconditions and institutional reforms required prior to adopting inflation targeting.\n - Operational aspects of monetary policy under an inflation-targeting regime, including considerations related to the zero lower bound on nominal interest rates.\n - Interaction of inflation targeting with exchange rate regimes (including issues under a crawling band).\n- Case studies and transitional experiences:\n - Industrial-country experiences: Canada, New Zealand, United Kingdom, Israel.\n - Emerging-market transitions: Mexico, Brazil." }, { "heading": "Conference agenda highlights (sessions, times, chairs, presenters, discussants, and materials)", "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. — Monetary Rules\n - Chair: Michael Mussa\n - Speaker: Bennett McCallum (Carnegie-Mellon University)\n - Discussant: Vincent Reinhart (Federal Reserve Board)\n - Materials: Monetary Rules (180 k pdf file); 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. — Monetary Policy Under Inflation Targeting\n - Speaker: Lars Svensson (Stockholm University)\n - Discussant: Timothy Lane (IMF)\n - 2:00 p.m.-3:00 p.m. — Inflation Targeting in Canada\n - Chair: Tomás Baliño (IMF)\n - Speaker: Charles Freedman (Bank of Canada)\n - 3:00 p.m.-4:00 p.m. — Inflation Targeting in New Zealand\n - Speaker: David Archer (Reserve Bank of New Zealand)\n - 4:15 p.m.-5:15 p.m. — Inflation Targeting in the United Kingdom\n - Chair: Mohsin Khan (IMF)\n - Speaker: Andrew Haldane (Bank of England)\n - Materials: (71 k pdf file); Background Paper: Targeting Inflation: The UK in Retrospect (46 k pdf file)\n\n- Tuesday, March 21\n - 9:00 a.m.-10:00 a.m. — Inflation Targeting in Israel\n - Chair: Peter Montiel (IMF)\n - Speaker: Leonardo Leiderman (Bank of Israel and Tel Aviv University)\n - Materials: Inflation Targeting in Israel (422 k pdf file); Background Paper: Inflation Targeting Under a Crawling Band Exchange Rate Regime: Lessons from Israel\n - 10:15 a.m.-11:15 a.m. — Inflation Targeting in Mexico\n - Chair: Claudio Loser (IMF)\n - Speakers: Agustin Carstens (IMF); Alejandro Werner (Bank of Mexico)\n - Materials: 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. — Inflation Targeting in Brazil\n - Speaker: Sérgio Werlang (Central Bank of Brazil)\n - Materials: (433 k pdf file); 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": "Procedural notes and contact", "content": "- Contact: conference@imf.org\n- Technical note: Use the free Adobe Acrobat Reader to view PDF files; tips for using PDF files provided." } ], "bullets": [ "Sponsored by the IMF Institute; held at IMF Headquarters, Washington, D.C., Multipurpose Room, B-702.", "Dates: March 20-21, 2000.", "Participation: Participation by invitation only.", "Purpose: To examine issues arising from the shift toward explicit inflation targets, including:", "Conference materials: Conference papers and brief biographical information on each participant were to be posted as they became available; papers noted as draft and unedited.", "Associated publication: 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.", "Historical context: Followed the high-inflation years of the late 1970s and early 1980s and the subsequent global trend toward relative price stability attributed partly to adoption of inflation targets.", "Policy design and implementation:", "Case studies and transitional experiences:", "Monday, March 20", "Tuesday, March 21", "Contact: conference@imf.org", "Technical note: Use the free Adobe Acrobat Reader to view PDF files; tips for using PDF files 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 (PDF)](/-/media/websites/imf/imported-events/external/pubs/ft/seminar/2000/targets/_leidermnpdf.pdf){rel=\"external\" 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