The papers in this volume were presented and discussed at the Autumn Central Bank Economists' Meeting held at the BIS in Basel on 14-15 October 2002. The purpose of this meeting was to discuss challenges that central banks have faced in the current environment characterised by low and comparatively stable inflation, structural supply side improvements, the apparently high credibility of central banks' anti-inflation commitment and liberalised financial markets. These challenges have included learning how to deal with unforeseen potential increases in productivity growth, major expansions in credit and asset prices, and, in some cases, even financial instability and deflation. Another challenge has been the recent sudden and widespread slowdown in economic activity that, uncharacteristically, was not triggered by a tightening of monetary policy designed to quell inflationary pressures but rather by the unwinding of an investment boom. The meeting explored potential changes in the dynamics of the business cycle, in particular the ability to identify inflationary and deflationary pressures, and the implications for monetary policy, including the challenges posed by the zero lower bound on interest rates.
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ReDIF This book is provided by Bank for International Settlements in its series BIS Papers with number
19 and published in 2003.
Luc Aucremanne & Guy Brys & Peter J Rousseeuw & Anja Struyf & Mia Hubert, 2003.
"Inflation, relative prices and nominal rigidities,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Monetary policy in a changing environment, volume 19, pages 81-105
Bank for International Settlements.
[Downloadable!]
Klaus Masuch & Sergio Nicoletti-Altimari & Massimo Rostagno & Huw Pill, 2003.
"The role of money in monetary policymaking,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Monetary policy in a changing environment, volume 19, pages 158-191
Bank for International Settlements.
[Downloadable!]
Jan Kakes & Cees Ullersma, 2003.
"Financial stability in low-inflation environments,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Monetary policy in a changing environment, volume 19, pages 355-367
Bank for International Settlements.
[Downloadable!]
Kjetil Olsen & Jan Fredrik & Oistain Roisland, 2003.
"Monetary policy in real time: the role of simple rules,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Monetary policy in a changing environment, volume 19, pages 368-382
Bank for International Settlements.
[Downloadable!]
Caesar P Lack, 2003.
"A financial conditions index for Switzerland,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Monetary policy in a changing environment, volume 19, pages 398-413
Bank for International Settlements.
[Downloadable!]
James A Kahn & Robert Rich, 2003.
"Distinguishing trends from cycles in productivity,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Monetary policy in a changing environment, volume 19, pages 443-462
Bank for International Settlements.
[Downloadable!]
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
James H. Stock & Mark W. Watson, 1999.
"Forecasting Inflation,"
NBER Working Papers
7023, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
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