V Annual Inflation Targeting Seminar of the Central Bank of Brazil: Monetary Policy - Shocks and Effectiveness

 
Date
        July 11th 2003
Local
        Rio de Janeiro, Brazil
Agenda
8:30 a.m. Registration
9:00 a.m. Welcome and Opening Remarks

Henrique de Campos Meirelles, Central Bank of Brazil

9:30 a.m. Session 1: Panel - Effectiveness and Transmission Mechanisms of Monetary Policy

Moderator: Edmar Lisboa Bacha, Banco BBA Creditanstalt

Dionísio Carneiro, PUC-Rio
Mecanismos de Transmissão e Algumas Questões Práticas da Política Monetária no Brasil (PPT - 95KB - Portuguese)

Alexandre Schwartsman, Unibanco
How tough should you be. Inflation targeting, fiscal feedbacks, and multiple equilibria (PPT - 217KB - English)

Marcelo Kfoury Muinhos, Central Bank of Brazil
Modelo Macroeconômico de Médio Porte Para a Economia Brasileira (PPT - 537KB - Portuguese)

10:45 a.m. Coffee break
11:00 a.m. Session 2: Panel - Monetary Policy and External Adjustment

Moderator: Claudio Haddad, IBMEC

Fernão Carlos Botelho Bracher, Banco Itaú BBA
Presentation (PPT - 50KB - Portuguese)

Rodrigo Azevedo, CSFB
Eficácia da política monetária em meio a choques cambiais (PPT - 931KB - Portuguese)

Leonardo Leiderman, Tel Aviv University

12:30 p.m. Lunch
2:30 p.m. Session 3: Inflation Targeting Regime Under Adverse Shocks: Experience in Brazil (2001-2002)

Moderator: Daniel Luiz Gleizer, Deutsche Bank

André Minella, Central Bank of Brazil - with Paulo Springer de Freitas, Ilan Goldfajn and Marcelo Kfoury Muinhos
Regime de Metas para Inflação no Brasil: Construindo Credibilidade em Contexto de Volatilidade na Taxa de Câmbio (PPT - 219KB - Portuguese)
Inflation Targeting in Brazil: Constructing Credibility under Exchange Rate Volatility (PDF - 288KB - English)

Affonso Celso Pastore, FGV
Presentation (PPT - 87KB - Portuguese)

Armínio Fraga, Gávea Investimentos - with Ilan Goldfajn and André Minella
Inflation Targeting in Emerging Market Economies (PPT - 101KB - English)

4:00 p.m. Coffee break
4:15 p.m. Session 4: Microfounded Open Economy Models

Moderator: Sérgio Ribeiro da Costa Werlang, Banco Itaú

Mirta Bugarin, Universidade de Brasília - with Roberto Ellery Jr., Victor Gomes and Marcelo Kfoury Muinhos
Steady State Analysis of an Open Economy General Equilibrium Model for Brazil (PPT - 195KB - English)

Alessandro Rebucci, International Monetary Fund
Monetary Policy: Shocks and Effectiveness (PPT - 239KB - English)
The US Dollar and Trade Deficit: What Accounts for the Late 1990s? (PDF - 410KB - English)

Rodrigo Valdés, Banco Central do Chile
MEP 1 - Structural Macroeconomic Model for Chile: An Overview (PPT - 286KB - English)

6:00 p.m. Closing Remarks

Antonio Palocci Filho, Minister of Finance

6:30 p.m. Cocktail