The Banco de España participates in the CEBRA annual meeting as the organiser of one of the sessions, entitled “Monetary Policy in the New Normal”. Several research papers relating to the possible design of monetary policy in the advanced economies in the coming decades have been discussed during the session. Below are the papers presented with links to the pages in which they have been published

Papers:

• “A Model of Intermediation Money, Interest, and Prices”, Saki Bigio y Yuliy Sannkiov
• “Negative nominal interest rates and the bank lending channel”, Gauti Eggertsson, Ragnar Juelsrud, Lawrence H. Summers, Ella Getz Wold
• “Monetary Policy Strategies for a Low-Rate Environment”, Ben Bernanke, Mike Kiley, John Roberts
• “A large Central Bank Balance Sheet? Floor vs Corridor Systems in a New Keynesian Environment”, Óscar Arce, Galo Nuño, Dominik Thaler, Carlos Thomas