Unconventional monetary policy: How well did it work?
Past Event
Introduction, Paper Presentation, & Panel Discussion: Unconventional Monetary Policy in the Great Recession and Beyond

Introduction, Paper Presentation, & Panel Discussion: Unconventional Monetary Policy in the Great Recession and Beyond

Paper Presentation & Panel Discussion: Unconventional Monetary Policies in the Euro Area, Japan, and the U.K.
After pushing short-term interest rates down to zero, the Federal Reserve Bank and the central banks in the United Kingdom, Europe, and Japan experimented over the past decade with an unprecedented set of monetary tools that come to be known as “unconventional monetary policy” – forward guidance about future policies, quantitative easing or large-scale asset purchases, negative interest rates. The time has come to step back and ask how well these unconventional monetary policies worked, and whether central banks should use them in the future. To answer those questions, the Hutchins Center on Fiscal & Monetary Policy has commissioned two papers that are forthcoming in the Journal of Economic Perspectives.
On Wednesday, October 17, the Hutchins Center hosted an event at which the authors of those papers – Ken Kuttner of Williams College, who wrote about the United States, and Giovanni Dell’Ariccia, Pau Rabanal, and Damiano Sandri of the International Monetary Fund, who wrote about the rest of the world – presented their findings and discussed them with a panel of monetary policy experts.
Agenda
Introduction
Paper Presentation
Unconventional Monetary Policy in the Great Recession and Beyond
Kenneth N. Kuttner
Robert F. White Class of 1952 Professor of Economics - Williams College
Anna Cieslak
Assistant Professor of Finance - The Fuqua School of Business, Duke University
Kenneth West
John D. MacArthur and Ragnar Frisch Professor of Economics - University of Wisconsin
Session Materials
Panel Discussion
Unconventional Monetary Policy in the Great Recession and Beyond
Louise Sheiner
The Robert S. Kerr Senior Fellow - Economic Studies
Policy Director - The Hutchins Center on Fiscal and Monetary Policy
Anna Cieslak
Assistant Professor of Finance - The Fuqua School of Business, Duke University
Kenneth N. Kuttner
Robert F. White Class of 1952 Professor of Economics - Williams College
Kenneth West
John D. MacArthur and Ragnar Frisch Professor of Economics - University of Wisconsin
Paper Presentation
Unconventional Monetary Policies in the Euro Area, Japan, and the U.K.
Damiano Sandri
Senior Economist - Western Hemisphere Department, International Monetary Fund
Session Materials
Panel Discussion
Unconventional Monetary Policies in the Euro Area, Japan, and the U.K.
Ben Broadbent
Deputy Governor - Monetary Policy, Bank of England
Giovanni Dell’Ariccia
Deputy Director - Research Department, International Monetary Fund
Pau Rabanal
Deputy Division Chief - Research Department, International Monetary Fund
Damiano Sandri
Senior Economist - Western Hemisphere Department, International Monetary Fund
Angel Ubide
Managing Director - Citadel
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