Global Markets Forum
October 29, 2012, 5:30 PM - 7:00 PM
Monetary Policy, In Practice
Lorenzo Bini Smaghi discussed how central banks have to take monetary policy decisions, in particular in the euro area, in a situation of high uncertainty not only about the state of underlying economic conditions but also about the reaction of market participants and other policy makers, which is not incorporated in standard macro models. This leads to second best decisions.
This event was part of the Initiative on Global Markets (IGM) and is generously sponored by Myron Scholes.
The IGM also receives financial support from our corporate partner, AQR Capital Management.
Federal Reserve Bank of Chicago
230 South LaSalle Street
Chicago, IL 60604
NOTE: This event is not at the Gleacher Center. It is being held at the Federal Reserve Bank of Chicago. Click here for parking information
Lorenzo Bini Smaghi is currently Visiting Scholar at Harvard's Weatherhead Center for International Affairs. He is Chairman of the Boards of SnamReteGas and of Fondazione Palazzo Strozzi. He also chairs the Italian Chapter of the Alumni of the University of Chicago.
From June 2005 to December 2011 he was a Member of the Executive Board of the European Central Bank. He started his career as an Economist at the Research Department of the Banca d'Italia (in 1983) and became Head of the Policy Division of the European Monetary Institute (in 1994) and then Director General for International Affairs in the Italian Treasury (in 1998).
He has been the Chairman of the Board of SACE Spa, and member of the Boards of Finmeccanica, MTS, the European Investment Bank.
He holds a Bachelor's Degree in Economics from the Université Catholique de Louvain (Belgium), a Master's degree from the University of Southern California and a Ph.D from the University of Chicago.
He is author of several articles and books on international and European monetary and financial issues. He is currently member of the A-List of Commentators for the Financial Times.