When
06 October 2017
8:30 AM
Event: Conference: Macroeconomic effects of policy announcements
Venue: Central Bank of Ireland, North Wall Quay
Please see here for full agenda: 171005 - Programme - Macroeconomic Effects of Policy Announcements web (PDF 445.94KB)
This workshop, attended by speakers from a host of central banks across the world, aims to be a forum for recent contributions analysing the current macroeconomic effects of future policy changes or long term plans. Expectations of households and firms regarding future monetary and fiscal policies have been at the heart of macroeconomic policy debates at least since the 1970s, most notably in the context of how to limit the costs of disinflations. Since the financial crisis and the European sovereign debt crisis, policymakers aiming to stabilise inflation and economic activity had to rely even more on their ability to influence the expectations of the private sector. As short term interest rates hit the zero lower bound, some central banks aimed to influence long term rates by announcing the future path of the policy rate, and also tried to affect long term rates more directly by means of asset purchases. Similarly, the key rationale behind fiscal policy measures taken during the crisis and the accompanying structural reforms was that their favourable effect on the expectations of households and firms would counterbalance direct contractionary effects.
Attendance by pre-registration only: [email protected] / [email protected]