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HKIMR and BIS

Conference on "Monetary Policy Approaches and Implementation in Asia"

21 November 2005 (Monday) - 22 November 2005 (Tuesday)



Monday, November 21
08:45 - 09:15 Registration and Welcoming Coffee
09:15 - 09:30 Opening of Conference with Introductory Remarks
Peter PANG, Deputy Chief Executive, Hong Kong Monetary Authority

Session I. Chair: Robert McCAULEY, Bank for International Settlements
09:30 - 10:45 Country paper: Japan (Japanese Monetary Policy: 1998-2005 and Beyond)
Author: Takatoshi ITO, University of Tokyo
Discussants: Masaru YOSHITOMI, Research Institute of Economy, Trade and Industry, Japan
Peter MORGAN, HSBC Securities (Japan) Limited

10:45 - 11:00 Coffee Break
11:00 - 12:15 Country paper: South Korea (Inflation Targeting in Korea: A Model of Success?)
Authors: Yung Chul PARK, Seoul National University
Soyoung KIM, Korea University
Discussants: Timothy CONDON, ING Bank N.V.
Yang-Woo KIM, Bank of Korea

12:15 - 13:30 Buffet Lunch
Session II. Chair: Wensheng PENG, Hong Kong Monetary Authority
13:30 - 15:00 Country paper: Malaysia / Thailand (Understanding Monetary Policy in Malaysia and Thailand: Objectives, Instruments, and Independence)
Author: Robert McCAULEY, Bank for International Settlements
Discussants: Sukudhew SINGH, Bank Negara Malaysia
Atchana WAIQUAMDEE, Bank of Thailand

15:00 - 16:00 Country paper: Vietnam (Monetary Policy in Vietnam: The Case of a Transition Country)
Author: Ulrich CAMEN, Graduate Institute of International Studies, Geneva
Discussant: Susan ADAMS, International Monetary Fund

16:00 -16:30 Coffee Break
16:30 - 17:30 An Australian Perspective on Inflation Targeting, Communication and Transparency
Author: Malcolm EDEY, Reserve Bank of Australia
Discussant: Marvin GOODFRIEND, Carnegie Mellon University

17:30 Close
18:30 - 21:00 Conference dinner hosted by the BIS
Address: ISOLA Bar & Grill, Level 3 & 4, IFC Mall 2, Central, Hong Kong

Tuesday, November 22
8:45 - 9:00 Coffee Break
Session III. Chair: Corrinne HO, Bank for International Settlements
09:00 - 10:15 Country paper: Indonesia / Philippines (Monetary Policy Approaches and Implementation in Asia: The Philippines and Indonesia)
Authors: Roberto MARIANO and Delano VILLANUEVA, Singapore Management University
Discussants: Francisco Jr. DAKILA, Bangko Sentral ng Pilipinas
Akhis HUTABARAT, Bank Indonesia

10:15 - 11:30 Country paper: China (Designing a Framework for Independent Monetary Policy in China)
Authors: Marvin GOODFRIEND, Carnegie Mellon University
Eswar PRASAD, International Monetray Fund
Discussants: Tao ZHANG, People's Bank of China
Jiming HA, China International Capital Corporation (HK) Limited

11:30 - 11:45 Coffee Break
11:45 - 13:00 Country paper: Hong Kong / Singapore (Monetary Policy Regimes and Macroeconomic Outcomes: Hong Kong and Singapore)
Author: Stefan GERLACH, Bank for International Settlements
Discussants: Hoe Ee KHOR, Monetary Authority of Singapore
Wensheng PENG, Hong Kong Monetary Authority

13:00 - 14:00 Buffet Lunch
Session IV. Chair: Hans GENBERG, Hong Kong Monetary Authority / Hong Kong Institute for Monetary Research
14:00 - 15:15 Country paper: India (Monetary Policy Approaches in India)
Author: Kaushik BHATTACHARYA, University of Bonn
Discussant: Dominique DWOR-FRECAUT, Barclays Capital

15:15 - 16:30 Panel discussion
The Role of the Exchange Rate in Monetary Policy Formulation

Panellists:
Hans GENBERG, Hong Kong Monetary Authority / Hong Kong Institute for Monetary Research
Takatoshi ITO, University of Tokyo
Hoe Ee KHOR, Monetary Authority of Singapore
Robert McCAULEY, Bank for International Settlements
Sukudhew SINGH, Bank Negara Malaysia

16:30 End


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