Spillovers of Unconventional Monetary Policy


October 15, 2015, 12:00 AM EDT
Peterson Institute for International Economics, Washington, DC

Steven Kamin (Division of International Finance, Board of Governors of the Federal Reserve System), Prakash Loungani (Research Department of the International Monetary Fund (IMF)), Michael Klein (Tufts University), William L. Clayton (Tufts University), Joseph E. Gagnon (PIIE), Reuven Glick (Federal Reserve Bank of San Francisco), Tae Soo Kang (Korea Institute for International Economic Policy (KIEP)), Olivier Blanchard (PIIE), C. Fred Bergsten (PIIE), José De Gregorio (PIIE) and Guillermo Mondino (Emerging Markets Research, Citi)

Event Summary

The Peterson Institute for International Economics (PIIE) hosted a conference on "Spillovers of Unconventional Monetary Policy" on October 15, 2015. Monetary policy experts from a wide range of official and private institutions shared their perspectives on the global spillovers of recent policies from the Federal Reserve and other major central banks.

The first panel, "Theory and Evidence of Spillovers," included presentations by Steven Kamin, director of the Division of International Finance, Board of Governors of the Federal Reserve System; Prakash Loungani, advisor, Research Department of the International Monetary Fund (IMF); and Michael Klein, William L. Clayton Professor of International Economic Affairs, Tufts University.

The second panel on "Policy Implications of Spillovers" featured analyses by Joseph E. Gagnon, PIIE senior fellow, and Reuven Glick, group vice president in the Economic Research Department, Federal Reserve Bank of San Francisco. Tae Soo Kang, senior research fellow at the Korea Institute for International Economic Policy (KIEP) and former deputy governor of the Bank of Korea, discussed their views from his perspective.

The conference concluded with a high-level panel featuring Olivier Blanchard, the new C. Fred Bergsten Senior Fellow at PIIE and chief economist of the IMF during the launch of quantitative easing; Jose De Gregorio, professor, University of Chile, PIIE nonresident senior fellow, and former governor of the Central Bank of Chile; and Guillermo Mondino, head of Emerging Markets Research, Citi.

Event Materials

Presentations: Olivier Blanchard [pdf] | Joseph E. Gagnon [pdf] | José De Gregorio [pdf] | Reuven Glick [pdf] | Tae Soo Kang [pdf] | Michael Klein [pdf] | Prakash Loungani [pdf]