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Kiel Institute for the World Economy IfW

January 13-17, 2014
Selected course of the Kiel Institute Advanced Studies Program "Monetary Policy: Theory and Practice"
Kiel, IfW, Germany
The Kiel Institute offers the possibility of attending selected courses of its Advanced Studies Program. Monetary Policy: Theory and Practice - Prof. Volker Wieland, Ph.D. (Institute of Monetary and Financial Stability, Goethe University of Frankfurt) The objective of this course is to provide an introduction to the theory and practice of monetary policy with practical applications to current policy challenges around the world. Examples from the European Union, the United States and Japan will be discussed. We will develop theoretical models and learn how different policy recommendations can be evaluated using these models. We will study a range of policy issues including for example: - the practical relevance of simple rules for monetary policy, - robustness of monetary policy under model uncertainty, - the role of forecasts in policy design, - inflation targeting versus the ECB??s two-pillar strategy, - discretion and commitment in monetary policy, - quantitative easing and policy options in a low interest rate environment, - the implications of financial frictions and banking risks for the design of monetary policy; - fiscal implications of monetary policy and inflation; - the interaction of fiscal stimulus and fiscal consolidation with monetary policy at near zero interest rates. [gem?_?? den Informationen des Anbieters - according to site editor's information]
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