3rd BIS Annual Conference: Understanding Low Inflation and Deflation

Brunnen, Switzerland, 18-19 June 2004

Opening remarks (William White, BIS) (PDF, 19 kb)
Morning sessions (Chair: Lars Heikensten, Sveriges Riksbank )
Session 1:	Changes in the inflation process (Stephen Cecchetti, Brandeis University and Guy Debelle, BIS) Discussants: Ignazio Angeloni, ECB; Jordi Galí, Centre de Recerca en Economia Internacional (CREI)
Session 2:	Deflation in historical perspective (Michael Bordo, Rutgers University and Andrew Filardo, BIS) Discussants: Patrick Minford, Cardiff Business School; Fernando Restoy, Bank of Spain
Afternoon sessions (Chair: Vittorio Corbo, Central Bank of Chile)
Session 3:	Price setting and deflation in Asia (Hans Genberg, Graduate Institute of International Studies) Discussants: Laurence Ball, John Hopkins University; Steven Kamin, Federal Reserve Board
Session 4:	Panel on 'Deflation and the financial system' (Presenters: Lesley Daniels-Webster, JP Morgan Chase; Takumi Shibata, Nomura Securities) Discussant: Philipp Hildebrand, Swiss National Bank

Morning sessions (Chair: David Longworth, Bank of Canada)
Session 5:	Deflation in Japan: causes, consequences and policy options (Masaaki Shirakawa and Kazuo Ueda, Bank of Japan) Discussants: Michael Mussa, Institute for International Economics; Marc Olivier Strauss-Kahn, Banque de France
Session 6:	Beyond current policy frameworks (Charles Goodhart, London School of Economics) Discussants: Ignazio Visco, Banca d'Italia; Edwin Truman, Institute for International Economics
Afternoon sessions (Chair: Malcolm Knight, BIS)
Session 7:	Overview panel (Ben Bernanke, Federal Reserve Board; Willem Buiter, EBRD; Lucas Papademos, ECB)