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Home > Research & Data > Research Events > The Philadelphia Fed Policy Forum

The Philadelphia Fed Policy Forum

Three Questions for Monetary Policymakers

November 30, 2001

Papers

Question 1: How Should Monetary Policy React to Asset Prices?

• "Nominal Price Versus Asset Price Stabilization"
  Bill Dupor, Wharton School, University of Pennsylvania
• "Optimal Monetary Policy and Asset Prices in an Endogenously Segmented Market Model" and Background Paper
  Fernando E. Alvarez, University of Chicago
• "On Asset Prices and Monetary Policy"
  Mark Gertler, New York University
• "Asset Price Volatility and Monetary Policy"
  Mark Gertler, New York University
• "Should Central Banks Respond to Movements in Asset Prices"
  Ben S. Bernanke (Princeton University) and Mark Gertler
• "Monetary Policy and Asset Price Volatility"
  Ben S. Bernanke and Mark Gertler

Discussion Notes for:

• Mark Watson, Princeton University
• Ben Bernanke, Princeton University

Question 2: How Should Monetary Policy and Fiscal Policy Interact?

Presentation Notes:

• Laurence Kotlikoff, Boston University
• Andrew Abel, Wharton School, University of Pennsylvania

Question 3: How Transparent Should a Central Bank Be?

• "The Federal Reserve's Announcements"
  Mickey D. Levy, Bank of America

Presentation Notes:

• William Poole, President, Federal Reserve Bank of St. Louis
• Michael Prell, Consultant and Former Director or Research and Statistics, Board of Governors of the Federal Reserve System
• Alan Blinder, Princeton University

Closing Remarks:

• Loretta Mester, Director of Research, Federal Reserve Bank of Philadelphia

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