Navigating the Great Recession : What Role for Monetary Policy?

The 12th BIS Annual Conference took place in Lucerne, Switzerland on 20-21 June 2013. The event brought together a distinguished group of central bank governors, leading academics and former public officials to exchange views on the conference theme of "Navigating the Great Recession: what role for monetary policy?". This volume contains the opening address by Stephen Cecchetti (former Economic Adviser, BIS), a keynote address by Finn Kydland (University of California, Santa Barbara) and the contributions of the policy panel. The participants in the policy panel, chaired by Jaime Caruana (General Manager, BIS), were Zeti Akhtar Aziz (Bank Negara Malaysia), Thomas Jordan (Swiss National Bank) and Glenn Stevens (Reserve Bank of Australia).The papers presented at the conference and the discussants' comments are released as BIS Working Papers 434 to 437.While the full publication can be downloaded by using the above link, accompanying working papers are available separately as a part of the BIS Working Paper Series:"http://ssrn.com/abstract=2397681" Cyclical Macroeconomic Policy, Financial Regulation and Economic Growth"http://ssrn.com/abstract=2384449" Is Monetary Policy Overburdened?"http://ssrn.com/abstract=2384451" Global Spillovers and Domestic Monetary Policy"http://ssrn.com/abstract=2384452" International Monetary Policy Coordination: Past, Present and Future