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Monetary Policy: Its Effects and Implementation: Summary of the 2015 BOJ-IMES Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan

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Listed:
  • Yushi Endo

    (Bank of Japan)

  • Takushi Kurozumi

    (Bank of Japan)

  • Takemasa Oda

    (Bank of Japan)

  • Kenichirou Watanabe

    (Bank of Japan)

Abstract

The Institute for Monetary and Economic Studies (IMES) of the Bank of Japan (BOJ) held the 2015 BOJ-IMES Conference, titled "Monetary Policy: Its Effects and Implementation," on June 4-5, 2015 at the BOJ Head Office in Tokyo. The conference was attended by about 90 distinguished participants from academia, international organizations, and central banks. The participants discussed a wide range of issues concerning the effects and implementation of unconventional monetary policy. In his opening remarks, the BOJ Governor Kuroda raised several issues that central banks currently faced, for instance, the effects of unconventional monetary policy and its transmission channels. In the policy panel discussion, five panelists from central banks and academia, together with conference participants, discussed the issues and the thesis of secular stagnation, which had attracted growing attention in recent years. There were also five paper sessions presented by professors and central bank economists, which addressed various issues including relationship between maturity structure and supply factors in Japanese government bond markets. The conference closed with the Mayekawa Lecture on secular stagnation.

Suggested Citation

  • Yushi Endo & Takushi Kurozumi & Takemasa Oda & Kenichirou Watanabe, 2015. "Monetary Policy: Its Effects and Implementation: Summary of the 2015 BOJ-IMES Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 33, pages 1-24, November.
    • Handle: RePEc:ime:imemes:v:33:y:2015:p:1-24
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    References listed on IDEAS

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    1. Ichiro Fukunaga & Naoya Kato & Junko Koeda, 2015. "Maturity Structure and Supply Factors in Japanese Government Bond Markets," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 33, pages 45-96, November.
    2. Rod Garratt & Antoine Martin & James J. McAndrews & Ed Nosal, 2015. "Segregated balance accounts," Staff Reports 730, Federal Reserve Bank of New York.
    3. Gauti B. Eggertsson & Neil R. Mehrotra, 2014. "A Model of Secular Stagnation," NBER Working Papers 20574, National Bureau of Economic Research, Inc.
    4. Antoine Martin & James J. McAndrews & Ali Palida & David R. Skeie, 2013. "Federal Reserve tools for managing rates and reserves," Staff Reports 642, Federal Reserve Bank of New York.
    5. Marcel Fratzscher & Marco Lo Duca & Roland Straub, 2018. "On the International Spillovers of US Quantitative Easing," Economic Journal, Royal Economic Society, vol. 128(608), pages 330-377, February.
    6. Barry Eichengreen, 2015. "Wall of Worries: Reflections on the Secular Stagnation Debate," IMES Discussion Paper Series 15-E-05, Institute for Monetary and Economic Studies, Bank of Japan.
    7. Yıldız Akkaya & Refet S. Gürkaynak & Burçin Kısacıkoğlu & Jonathan H. Wright, 2015. "Forward Guidance and Asset Prices," IMES Discussion Paper Series 15-E-06, Institute for Monetary and Economic Studies, Bank of Japan.
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