Stefan Gerlach

Comments on monetary policy
 

Teaching:

• Central Bank Watching. 

• Advanced Macroeconomics II, Part 2. Will be given next in spring 2009.

Recent work:

• Are the Golden Years of Central Banking Over? (With A. Giovannini, C. Tille and J. Viñals.) Forthcoming as Geneva Report on the World Economy 10, ICMB and CEPR, February 2009.

• Financial structure and the impact of monetary policy on asset prices. (With K. Assenmacher-Wesche.) January 2009.

  Monetary policy, asset prices and macroeconomic conditions: A panel-VAR study. (With K. Assenmacher-Wesche.) October 2008.

• Monetary policy and Exchange Rates: Theory and Practice. (With C. Tille.) September 2008.

• The term structure of interest rates across frequencies. (With K. Assenmacher-Wesche.) May 2008.

• The impact of the euro on international stability and volatility. (With M. Hoffmann.) March 2008.

• Deflation and price dispersion: Evidence from Japan and Hong Kong. (With P. Kugler.) September 2007.

To download older papers, click here.

Recent discussions:

1. Banking Globalization, Monetary Transmission and the Lending Channel, by Nicola Cetorelli and Linda Goldberg, BIS, December 5-6, 2008.

2. Rules versus Discretion in Loan Rate Setting, by Geraldo Cerqueiro, Hans Degryse and Steven Ongena,  11th DNB Research Conference, October 30-31, Amsterdam.

3. Household External Financial and Consumption, by Timothy Besley, Neil Meads and Paulo Surico, CEPR/ESI 12^th Annual Conference, hosted by the BIS 25-26 September, Basel.

4. Monetary Persistence and the Labour Market: A New Perspective, by Wolfgang Lechthaler, Christian Merkl and Dennis Snower. Halle Institute for Economic Research and Deutsche Bundesbank workshop, July 2008.

5. Euro area money demand and international portfolio allocation, by Roberto De Santis, Carlo Favero and Barbara Roffia, European Central Bank conference, December 2007.

6. The role of interbank markets in monetary policy: A model with rationing, by X. Freixas and J. Jorge, Banque de France and CEPR conference, Paris, November 2007.

7. The announcement of future policy intentions, by G. Ferrero and A. Secchi, Banca d'Italia and CEPR conference, Rome, September 2007.

8. Investigating the structural stability of the Phillips curve trade-off, by J. Groen and H. Mumtaz, Bank of England conference, London, September 2007.

9. How important is money in the conduct of monetary policy? by M. Woodford, University of Bern/JMCB/Swiss National Bank conference, June 2007. PowerPoint slides.

Newspaper and website articles and letters:

• Unnötige Kratzer an der Glaubwürdigkeit, Financial Times Deutschland, 25 August, 2008.

• Should central banks publish their interest rate forecasts? Eurointelligence, 30 June, 2008.

• Insight not lost on Chinese authorities, Letter to the editor, Financial Times, 24 June, 2008.

• Can monetary policy really be used to stabilise asset prices? (With K. Assenmacher-Wesche.) Vox, 12 March, 2008.

• A pragmatic view of money, Eurointelligence, 10 October, 2007.

• Langfristig bestimmt Geld die Inflation. Börsen-Zeitung, Mittwoch, 10. Mai 2006, p. 6.

Conference: HONG KONG'S CURRENCY BOARD AT 25, London, 21 October 2001.

Other stuff:

• Monetary Policy in Small Financial Centres. Public lecture given on the occasion of the 40th anniversary of the Bank of Mauritius, Port Louis, Mauritius, 25 October, 2007.

• I was ranked 25th among economists at German-speaking universities in terms of life-time research output in 2008 (26th in 2007). For more information, click here.

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