Current Composition of the Bellagio Group

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Current Composition of the Bellagio Group Academic Members Alan Blinder, Princeton University Markus Brunnermeier, Princeton University Paul De Grauwe, Catholic University of Louvain Michael Devereux, University of British Columbia Barry Eichengreen, University of California, Berkeley Kristin J. Forbes, MIT Jeffrey Frankel, Harvard University Mitsuhiro Fukao, Keio University Márcio G. P. Garcia, Pontifical Catholic University Francesco Giavazzi, Bocconi University Pierre-Oliver Gourinchas, University of California Berkeley Dr. Fan He, Institute of World Economics and Politics Takatoshi Ito, Columbia University Richard Portes, London Business School Dr. Adam Posen, Peterson Institute for International Economics Helene Rey, London Business School Philipp Schnabl, New York University Lars Svensson, Stockholm School of Economics Jürgen von Hagen, University of Bonn Dr. Beatrice Weder di Mauro, INSEAD Asia Campus Charles Wyplosz, University of Geneva Official Members Mr. Yoshiki Takeuchi, Ministry of Finance, Japan Dr. Tjerk Kroes, De Nederlandsche Bank Dr. Fernanda Nechio, Banco Central Do Brasil Ms. Laurence Boone, OECD Mr. Claudio Borio, BIS Mr. Mark Bowman, HM Treasury, UK Ms. Lael Brainard, Board of Governors of the Federal Reserve System Mr. Ben Broadbent, Bank of England Ms. Claudia Buch, Deutsche Bundesbank Professor Martin Flodén, Sveriges Riksbank Mr. Michel Houdebine, French Ministry of Economy, Finance and Industry Mr. Olivier Garnier, Banque de France Mr. Yi Gang, People’s Bank of China Brent McIntosh, U.S. Department of the Treasury Mr. David Lipton, IMF Dr. Philip Lane, European Central Bank Mr. Alessandro Rivera, Italian Treasury Mr. Luigi Federic Signorini, Banca D’Italia Mr. Rob Stewart, Ministry of Finance, Canada Mr. Masazumi Wakatabe, Bank of Japan Mr. Jakob von Weizsacher, German Federal Ministry of Finance Ms. Carolyn A. Wilkins, Bank of Canada Mr. (Guillaume) Pierre Wunsch, National Bank of Belgium Mr. Fritz Zurbrügg, Swiss National Bank .

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Appointment of Dr Adam Posen to the Monetary Policy Committee of the Bank of England
House of Commons Treasury Committee Appointment of Dr Adam Posen to the Monetary Policy Committee of the Bank of England Twelfth Report of Session 2008–09 Volume II Oral and written evidence Ordered by The House of Commons to be printed 14 July 2009 HC 764-II Published on 19 October 2009 by authority of the House of Commons London: The Stationery Office Limited £0.00 The Treasury Committee The Treasury Committee is appointed by the House of Commons to examine the expenditure, administration, and policy of HM Treasury, HM Revenue & Customs and associated public bodies. Current membership Rt Hon John McFall MP (Labour, West Dunbartonshire) (Chairman) Nick Ainger MP (Labour, Carmarthen West & South Pembrokeshire) Mr Graham Brady MP (Conservative, Altrincham and Sale West) Mr Colin Breed MP (Liberal Democrat, South East Cornwall) Jim Cousins MP (Labour, Newcastle upon Tyne Central) Mr Michael Fallon MP (Conservative, Sevenoaks) (Chairman, Sub-Committee) Ms Sally Keeble MP (Labour, Northampton North) Mr Andrew Love MP (Labour, Edmonton) John Mann MP (Labour, Bassetlaw) Mr James Plaskitt MP (Labour, Warwick and Leamington) John Thurso MP (Liberal Democrat, Caithness, Sutherland and Easter Ross) Mr Mark Todd MP (Labour, South Derbyshire) Mr Andrew Tyrie MP (Conservative, Chichester) Sir Peter Viggers MP (Conservative, Gosport) Powers The Committee is one of the departmental select committees, the powers of which are set out in House of Commons Standing Orders, principally in SO No. 152. These are available on the Internet via www.parliament.uk. Publications The Reports and evidence of the Committee are published by The Stationery Office by Order of the House.
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Bank of England Quarterly Bulletin 2009 Q4
302 Quarterly Bulletin 2009 Q4 Bank of England speeches A short summary of speeches made by Bank personnel since historically the worst financial crises have come when asset publication of the previous Bulletin are listed below. price busts have led to banking system failures. However, there remains room for tools that could directly address costly 2009: a review of the economic year asset price booms. In presenting evidence that residential real Spencer Dale, Executive Director and Chief Economist, estate bubbles tend to have higher real economic costs than December 2009. equity booms, Dr Posen suggested that the use of countercyclical real estate taxes could provide the simple blunt www.bankofengland.co.uk/publications/speeches/2009/ instrument required to successfully lean against the wind in speech416.pdf real estate prices. The bottom line for monetary policy coming out of the crisis is, if you have a financial problem, use financial In this speech, Spencer Dale noted that much of the world policy tools to fix it. started 2009 in economic freefall. This was driven by tight credit conditions, amplified by a collapse in confidence. It The UK bank resolution regime fell to policy to break the ensuing vicious cycle. In the Andrew Bailey, Executive Director for Banking Services and United Kingdom, the MPC cut Bank Rate to 0.5% and Chief Cashier, November 2009. commenced a programme of asset purchases. This easing occurred alongside a range of Government policies. There www.bankofengland.co.uk/publications/speeches/2009/ were encouraging signs that these policies were working; speech414.pdf corporate insolvencies and unemployment had both increased by less than might have been feared.
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How to Do More
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News Release: Adam S. Posen to Become New President of Peterson
News Contact: Steve Weisman (202) 454-1331 May 18, 2012 ADAM S. POSEN TO BECOME NEW PRESIDENT OF PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS WASHINGTON—Adam S. Posen, a widely respected economist who has been serving as an external member of the Monetary Policy Committee of the Bank of England since 2009, has been chosen by the board of directors of the Peterson Institute for International Economics as its next President. Dr. Posen, deputy director of the Institute during 2007–09, will succeed C. Fred Bergsten, founding director of the Institute since its creation in 1981. The appointment will take effect January 1, 2013. Dr. Posen was selected unanimously today by the Peterson Institute’s board of directors, following a recommendation by its executive committee. The executive committee functioned as the search committee under the leadership of its chairman, James W. Owens, former chairman and CEO of Caterpillar, Inc. The search began after Dr. Bergsten announced his intention to step down earlier this year. At the request of the Board, Dr. Bergsten will remain active at the Institute as a senior fellow and president emeritus. “I am honored and excited to be chosen to lead the Peterson Institute in the years ahead,” said Dr. Posen. “Our mission is more important than ever: to provide the objective relevant research enabling us to advise and challenge policymakers on how best to make globalization beneficial and sustainable. Thanks to Fred Bergsten and the outstanding team of scholars we have assembled, the Institute’s intellectual influence, nonpartisan credibility, and convening power are greater than ever.
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Commentary: Methods of Policy Accommodation at the Interest-Rate Lower Bound Adam S. Posen If Michael Woodford says it is daunting to present his paper in front of this distinguished audience, you can imagine how daunting it is to be the discussant of his paper, which is probably the longest paper at this conference—but a paper, typically for Mike, dense with insight. I am grateful to have this opportunity, not just to discuss this paper, but to be a participant at this year’s Federal Reserve Bank of Kansas City conference. Perhaps fittingly, today is my last day as a central banker. I think Charlie Bean will attest that I have 4-1/2 hours remaining as a mem- ber of the Bank of England’s Monetary Policy Committee (MPC). And having spent my entire three years on the MPC with interest rates having been at the effective zero lower bound, the subject of this paper is obviously something I have been living and breathing. While I agree with some of the paper’s conclusions, I find it unpersuasive how the paper comes to them. Furthermore, the paper seems to stop short of spelling out the policy implication that it does justify. So, let me try to talk that through a bit and then draw out where I think this paper leads us to, but seems to be afraid to go, in policy terms. On even a light reading, this is clearly a paper of two halves. The first half talks about the issue of forward guidance, the work in the 289 290 Adam S.
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Adam Posen on BBC Hardtalk
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FISCAL-2020/12/01 1 THE BROOKINGS INSTITUTION WEBINAR FISCAL POLICY ADVICE FOR JOE BIDEN AND CONGRESS Washington, D.C. Tuesday, December 1, 2020 PARTICIPANTS: Welcome: ADAM POSEN President, Peterson Institute for International Economics DAVID WESSEL Senior Fellow and Director, Hutchins Center on Fiscal & Monetary Policy, The Brookings Institution COVID-19 and the Near Term: WENDY EDELBERG Senior Fellow and Director, The Hamilton Project The Brookings Institution DOUGLAS ELMENDORF Dean and Don K. Price Professor of Public Policy, Harvard Kennedy School MICHAEL STRAIN Director of Economic Policy Studies and Arthur F. Burns Scholar in Political Economy, American Enterprise Institute ADAM POSEN, Moderator President Peterson Institute for International Economics ‘What About the Federal Debt’ Presentation: JASON FURMAN Professor of the Practice of Economic Policy Harvard Kennedy School LAWRENCE SUMMERS Charles W. Eliot University Professor and President Emeritus, Harvard University Discussion: BEN BERNANKE Distinguished Fellow in Residence, Hutchins Center on Fiscal & Monetary Policy OLIVIER BLANCHARD C. Fred Bergsten Senior Fellow, Peterson Institute for International Economic ANDERSON COURT REPORTING 1800 Diagonal Road, Suite 600 Alexandria, VA 22314 Phone (703) 519-7180 Fax (703) 519-7190 FISCAL-2020/12/01 2 PARTICIPANTS (CONT’D): JASON FURMAN Professor of the Practice of Economic Policy, Harvard Kennedy School KENNETH ROGOFF Professor of Economics and Thomas D. Cabot Professor of Public Policy, Harvard University LAWRENCE SUMMERS Charles W. Eliot University Professor and President Emeritus, Harvard University LOUISE SHEINER, Moderator Senior Fellow and Policy Director, Hutchins Center on Fiscal & Monetary Policy The Brookings Institution * * * * * ANDERSON COURT REPORTING 1800 Diagonal Road, Suite 600 Alexandria, VA 22314 Phone (703) 519-7180 Fax (703) 519-7190 FISCAL-2020/12/01 3 P R O C E E D I N G S MR.
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How to Do More
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Minutes of the Monetary Policy Committee Meeting Held on 4 & 5
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