New Challenges for Monetary Policy

The recent global financial crisis has shown that one needs to reconsider traditional ways of analysing monetary policy and include new elements, such as financial frictions, the use of unconventional monetary policies, the interaction of monetary and fiscal policies, and the relationship between monetary stability and financial stability. The purpose of the summer school is to take stock of these developments and assess their implications for monetary policy.
The Summer School addresses PhD students and Post-docs with a strong academic record and a keen interest in policy issues, and young members of policy institutions such as central banks, ministries, and international organisations. The size of the group is limited to 25 participants; the age limit is 32 ( born 1977 or later).
The courses combine a thorough theoretical and methodical underpinning with a clear policy orientation on “how to put theory into practice”. Participants are expected to actively engage in debates on the topics discussed in class.

John B. Taylor, Stanford University
Simon Gilchrist, Boston University
Guido Lorenzoni, MIT
Marvin Goodfriend, Carnegie-Mellon University
Volker Wieland, University of Frankfurt