The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach & Education function engages, empowers and educates the public in the Second District. Our outreach mission furthers the Bank’s commitment to the region by listening to the communities we serve and developing programs, analysis and sponsored conferences and clinics to help meet their needs. Our education mission aims to advance public knowledge about the Federal Reserve System and its role in the economy.
A conference sponsored jointly by the Federal Reserve Bank of New York, the Program for Economic Research at Columbia University, and the Dynare Project of CEPREMAP (Centre pour la recherche économique et ses applications).
Overview The goal of this conference is to present and discuss recent developments in the use of quantitative structural models to simulate and evaluate alternative monetary and fiscal policies. The conference emphasizes models with optimizing foundations that are parameterized to match features of economic time series. Examples of the issues that we address include methods of econometric estimation and tests of the empirical fit of dynamic stochastic general equilibrium models, ways of taking into account parameter and model uncertainty in policy evaluation exercises, the welfare consequences of stabilization policies, and the degree to which simple rules can approximate a fully optimal policy. The conference considers analyses of stabilization policy in both closed and open economies.
The conference is by invitation only. Invited participants are requested to complete the registration form and fax it to Elizabeth Lewis-Draffen, +1 212 720 6831 or email it to firstname.lastname@example.org no later than August 15, 2005. Confirmation of registration will be sent by email to all participants.