CALL FOR PROPOSALS
The Future of Central Banking
The 75th Meeting of the Carnegie-Rochester
Conference on Public Policy
April 16-17, 2010
The Carnegie-Rochester Conference on Public Policy is now soliciting
papers for a conference on "The Future of Central Banking." This
Conference will be held in Rochester, N.Y. at the William E. Simon
Graduate School of Business, University of Rochester, on April 16-17,
2010. This conference marks the 75th semi-annual meeting of the
Carnegie-Rochester Series. The proceedings of the Conferences are slated
for publication in a special issue of the Journal of Monetary Economics
in January 2011.
The world-wide financial crisis of 2007-2009 has challenged and changed
the nature of monetary policy throughout the world. Central Banks have
cut interest rates aggressively to cushion the decline in the real
economy. They have increased access to the discount window and have
created a variety of new lending facilities to provide liquidity to
credit markets. They have been aggressive in the use of their balance
sheets to increase reserves to support economic activity. Banks have
also proposed and introduced new tools for managing reserves. In
undertaking these many actions in support of the economy many central
banks have stepped well beyond their customary and most important roles.
As a result many have come under increased scrutiny and political
pressure. What will Central Banking look like in the aftermath of the
financial crisis? Will they be able to maintain their independence?
Should banks change the nature of their lender of last resort-function?
Should Central Banks be involved in the measurement and regulation of
system risk? Do we need to expand the regulatory role of Central Banks?
Do we need more formal mechanism for international coordination of
monetary policy? Do we need to re-think our basic understanding of
monetary theory?
The April 2010 conference will celebrate the important work presented at
the first Carnegie-Rochester in 1973 including Robert Lucas' critique of
econometric policy evaluation. We are seeking papers that advance our
theoretical and empirical understanding of the changing roles of Central
Banks and monetary theory in the aftermath of the financial crisis.
The editors invite detailed abstracts of no more than two pages
describing the proposed research paper. (If a preliminary version of the
paper is available, authors may include it with their abstract.)
Proposals should be submitted electronically to Sue North
(north_at_simon.rochester.edu), Editorial Assistant for the Journal of
Monetary Economics, no later than November 1st, 2009. The
Carnegie-Rochester Advisory Board in collaboration with editors of the
JME, will make the final selection of papers to be included in the
Conference. Authors will be notified by December 15, 2009 if their paper
has been selected. Authors will receive an honorarium of $2500 and be
expected to present their paper at the Conference. The papers should
represent original research not presented or published elsewhere. Since
the papers are intended for publication, authors will not be able to
publish or reprint the work elsewhere without the permission of the
editors and publisher. Please note that the editors will contact authors
only if their paper is accepted.
Received on Thu Aug 20 2009 - 10:59:54 EDT
