How Has Monetary Policy Changed in the Last 25 Years?

Donald Kohn delivered the opening speech at the 25th annual conference of Vanderbilt's Financial Markets Research Center. The conference addressed changes in the financial markets over the years, asking whether financial markets have become more efficient and more stable or whether they are becoming more volatile, more complex and more costly.

Kohn provided background on how monetary policy has changed over the past 25 years. The conference's agenda and scheduled speakers are available at Vanderbilt's Financial Market Research Center's website.