Ben S Bernanke: Brief overview of the 4th Conference of the International
Research Forum on Monetary Policy (welcoming remarks)
Welcoming remarks by Mr Ben S Bernanke, Chairman of the Board of Governors of the US Federal
Reserve System, at the Fourth Conference of the International Research Forum on Monetary Policy,
Washington DC, 1 December 2006.
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Vice President Papademos, ladies and gentlemen, I would like to welcome you to the fourth
conference of the International Research Forum for Monetary Policy. The forum is one outgrowth of
the increased interaction between central banks and academic institutions that, in my opinion, benefits
both groups. It is a true joint effort involving the European Central Bank, the Federal Reserve Board,
the BMW Institute for German and European Studies at Georgetown University, and the Centre for
Financial Studies at Goethe University in Frankfurt.
You have a very full agenda for the next two days. The topics represent a good mix of theoretical work
as well as empirical work based on both calibration and econometric estimation. You are beginning
with two papers that emphasize the importance of inflation expectations. Other papers examine such
topics as the application of search theory, the functioning of mortgage markets, the theoretical analysis
of optimal monetary policy, and empirical research on price-setting.
There is a lot of intellectual food on the table. Bon appetit!