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Workshop 3: Monetary Policy Workshop (22-25 May 2017)

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Date and Place: 22 - 25 May, Izmir
Apply by: 7 April
Event Coordinator: Arda Tekirdağ (arda.tekirdag@tcmb.gov.tr)

Description: The objective of this workshop is to examine important structural problems of emerging economies as well as financial stability issues and their link to the monetary policy from both a theoretical and practical perspective. Three different topics will be analyzed during the workshop. Each of these three topics will first be discussed by an experienced scholar in a seminar format, using experience, practices and empirical/theoretical literature. Following this, officials/experts from several central banks, who have particular experience in these three topics will present experiences and relevant policy applications in their countries.

Main Topics

Overcoming the Low Growth Trap: Structural Reforms and Monetary Policy

• Diagnosis of low growth trap
• Risks and consequences of low growth trap
• The interaction between monetary and fiscal policies and structural reforms to boost economic growth

Challenges to Financial Stability in a Negative Interest Rate World

• The impact of negative interest rates on asset prices and capital flows in developing and developed economies
• Effectiveness of the monetary policy in negative interest rate environment
• Monetary transmission mechanism under negative interest rates

Savings and Its Determinants

• Macro determinants of saving in an economy
• The role of monetary and fiscal policy in determining inflation
• Global savings glut

Target Audience: The workshop is designed for officials and economists from central banks and related policy institutions who are interested in monetary policy making and its macroeconomic implications for emerging economies. Participants will be expected to take part in the discussions and share their country experiences.

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