bankers convene at Kellogg
the third time, the Kellogg School hosted 35 banking and finance
researchers from 20 central banks in Europe, Asia, Latin America,
Africa, Canada and the United States, for the Advanced
Workshop for Central Bankers at the James L. Allen Center
a week of intense study covering frontier research relevant
to monetary policy, participants heard lectures by monetary
economics specialists, such as Sergio
Rebelo, the Tokai Bank Distinguished Professor of International
Finance, and Professors Lawrence Christiano and Martin
Eichenbaum from Northwestern University's Department of
Economics, and attendees built stochastic dynamic general
equilibrium models in a computer lab to study the interaction
between monetary policy and the economy.
lectures addressed topics such as the evolution of productivity
in Europe and the U.S., by Northwestern Professor Robert
J. Gordon, the use of forecasting techniques to guide
monetary policy, how monetary policy affects the price setting
rules followed by firms, the role of the financial sector
in the monetary transmission mechanism, and how economic uncertainty
affects monetary policy decisions.
workshop puts Kellogg and Northwestern on the map as a premier
center for research on monetary economics," said Rebelo,
one of the faculty members who coordinated the event at Kellogg.