University of Chicago GSB

2011 US Monetary Policy Forum

February 25, 2011 - New York, New York

This annual conference brings together academics, market economists, and policy makers. The conference is sponsored by the Initiative on Global Markets at the University of Chicago Booth School of Business.

Attendance at the USMPF conference is by invitation only. View participants list (PDF).

Program

The conference began with this year's report titled "Stressed Out: Macroprudential Principles for Stress Testing," which explores the design of stress tests and the lessons that can be drawn from the previous tests in the United States and Europe. The Dodd-Frank bill requires the Federal Reserve to begin doing annual stress tests. The report was written by David Greenlaw (Morgan Stanley), Anil Kashyap (University of Chicago), Hyun Song Shin (Princeton University), and Kermit Schoenholtz (New York University).

The report was discussed by the following:

It was moderated by Stephen G. Cecchetti, economic adviser and head of the monetary and economic department at the Bank for International Settlements.

The lunch address, "Challenges for Central Banks," was delivered by Donald Kohn, recently retired vice chairman of the Board of Governors of the Federal Reserve who currently is a senior fellow, economics studies, at the Brookings Institution.

The meeting concluded with a panel discussion on "unconventional monetary policy," moderated by Steve Liesman, CNBC senior economics reporter, and featured: