About us

Central Banks in the 21st Century

89 June 2006
Madrid
Conferences

Information

As one of the commemorative acts to celebrate the 150th anniversary of the Banco de España adopting its current name in 1856, the International Conference "Central Banks in the 21st Century" was held on 8-9 June at the Banco de España headquarters in Madrid. The Conference discussed the main challenges facing central banks today. 

The event gathered together some 20 central bank governors, other senior officials, leading academics and representatives from the private sector and international financial institutions from 36 countries.


The Conference was structured into three sessions devoted to three fundamental areas of central banks' activity: monetary policy, payment systems and financial stability. There was also a roundtable debate on global imbalances and their implications for central banks.

Presentations

8 June 2006
 
15.30 - 15.45

Jaime Caruana (Banco de España)

Session I. Monetary Policy
15.45 - 17.45
"Monetary Policy Today: Sixteen Questions and About Twelve Answers"

Chair: Jaime Caruana (Banco de España)

Alan S. Blinder (Princeton University) File PDF: Opens in a new window (269 KB)

Vítor Constâncio (Banco de Portugal) File PDF: Opens in a new window (153 KB)

Lucas D. Papademos (BCE) File PDF: Opens in a new window (224 KB)

Raghuram G. Rajan (FMI) File PDF: Opens in a new window (52 KB)

18.15 - 19.00
"Monetary Policy and Inflation Expectations"

Jean-Claude Trichet (BCE)

9 June 2006
Session II. Payment and Security Settlement Systems
09.00 - 10.45

Gertrude Tumpel-Gugerell (BCE)

"The Challenges of Integration in Europe" File PPS: Opens in a new window (278 KB). Alberto Giovannini (Unifortune)

"Recent Developments and Policy Challenges Affecting Large Value and Retail Payment Systems in Europe" File PDF: Opens in a new window (52 KB). Christian Noyer (Banque de France)

"A United States Perspective on the Changing Pattern of Payments" File PDF: Opens in a new window (87 KB). Anthony M. Santomero (President of the Federal Reserve Bank of Philadelphia)

Round Table
11.00 - 13.00
"Central Banks and Global Imbalances"

Chair: José Manuel González-Páramo (BCE) File PDF: Opens in a new window (186 KB)

Vittorio Corbo (Banco Central de Chile) File PPS: Opens in a new window (869 KB)

Vincent R. Reinhart (Federal Reserve Board) File PPS: Opens in a new window (66 KB)

Axel A. Weber (Deutsche Bundesbank)

David Folkerts-Landau (Deutsche Bank)

Session III. Financial Stability
14.30 - 16.30
"Financial Stability and Globalization: Getting It Right"

Chair: Erkki Liikanen (Suomen Pankki) File PDF: Opens in a new window (66 KB)

Frederic S. Mishkin (Columbia University) File PDF: Opens in a new window (112 KB)

Malcolm D. Knight (Banco de Pagos Internacionales) File PDF: Opens in a new window (41 KB)

Guillermo Ortiz (Banco de México) File PDF: Opens in a new window (51 KB)

 
17.00 - 18.00
Concluding Session

Jaime Caruana (Banco de España) File PDF: Opens in a new window (177 KB)

Pedro Solbes (Second Vice-president of the Spanish Government and Economy and Finance Minister) File PDF: Opens in a new window (100 KB)