Central Banking in Theory and Practice

Watch live streaming video from clsit at livestream.com
Monday September 23, 2013

This seminar will explore the relationship between the theoretical and legal design of central banks and their real-world actions.

Overview

This seminar will explore the relationship between the theoretical and legal design of central banks and their real-world actions. Questions to be addressed include:

What roles do central banks play according standard macroeconomic models? How accurate are these views?

What role do legal mandates play in the formation of central bank policy?

What does central bank independence mean in practice? How important is independence for effective macroeconomic policymaking?

Participants

Speakers:

Participant Profile

James K. Galbraith

Professor of Government, Lloyd M. Bentsen Jr. Chair in Government/Business Relations
the Lyndon B. Johnson School of Public Affairs, The University of Texas at Austin

James K. Galbraith holds the Lloyd M. Bentsen Jr. Chair in Government/Business Relations and a professorship of Government at the Lyndon B. Johnson School of Public Affairs, The University of Texas at Austin. He served in several positions on the staff of the U.S. Congress, including executive director of the Joint Economic Committee.

Participant Profile

Matias Vernengo

Associate Professor of Economics
University of Utah

Matias Vernengo is Associate Professor of Economics at the University of Utah, Salt Lake City and former Director of Economic Research at the Central Bank of Argentina.

Participant Profile

Lord Adair Turner

Senior Fellow
Institute for New Economic Thinking

Lord Adair Turner of Ecchinswell is the former Chairman of the Financial Services Authority and the Climate Change Committee in the United Kingdom, stepping down in spring 2012. He was Chairman of the House of Lords Pensions Commission from 2003 – 2006, and Chairman of the Low Pay Commission from 2002 – 2006.

Moderator: 
Participant Profile

Richard Clarida

C. Lowell Hariss Professor of Economics and International Affairs
Columbia University

Richard H. Clarida is the C. Lowell Harriss Professor of Economics and International Affairs at Columbia University where he has taught since 1988. From February 2002 until May 2003, Clarida served as the Assistant Secretary of the United States Treasury for Economic Policy. From 1997 until 2001, Clarida served as chairman of the Department of Economics at Columbia University.

Resources

Resource List

Core Reading