Carnegie-Rochester Conference Series on Public Policy

Semi-annual Conference

Editors:    Bennett McCallum

                 Charles I. Plosser

Upcoming Conference


November 19-20, 2004

Tepper, Carnegie-Mellon University

Pittsburgh, PA


Carnegie-Rochester Conference on Public Policy
November 19
-20, 2004

Monetary Theory and Policy: Papers in Honor of Bennett McCallum


Thursday, November 18

8:00 p.m.         Welcoming Reception – Holiday Inn Select-University Center

Friday, November 19


8:15 a.m.         Molly’s Trolleys from Holiday Inn to CMU/Tepper School -Posner Hall

8:30 a.m.         Continental Breakfast


9:00 a.m.         Conference Session I: Tepper School – Posner Hall – Room 151     

Chairman:  Marvin Goodfriend


·        Authors:  Bruce McGough, Glenn D. Rudebusch, and John C. Williams

                                  Title:  Using the Long-Term Interest Rate as the Monetary Policy Instrument

                                  Discussant: Michael Woodford      


·         Author:  Carl Walsh

     Title Parameter Misspecification with Optimal Targeting Rules and Endogenous Objectives

      Discussant:  Andrew Levin



12:00 p.m.       Lunch – Grand Room – 3rd floor Posner Hall



1:30 p.m.         Conference Session II: Tepper School – Posner Hall – Room 151

Chairman:  Charles Plosser


·         Authors: Michael Gallmeyer, Burton Hollifield, and Stan Zin      

           Title:  Taylor Rules, McCallum Rules, and the Term Structure of Interest Rates

                                   Discussant:  Kenneth Singleton   


·         Authors:  Robert P. Flood and Andrew K. Rose

                       Title:  Estimating the Expected Marginal Rate of Substitution: A Systematic Exploitation of Idiosyncratic Risk

     Discussant:  David Marshall



5:00 p.m.         Molly’s Trolleys from Posner Hall to Holiday Inn


7:15 p.m.         Molly’s Trolleys from Holiday Inn to The Pittsburgh Golf Club


7:30 p.m.         Dinner at The Pittsburgh Golf Club

           Remarks after dinner by Professor Allan Meltzer, Carnegie Mellon University


Saturday, November 20


8:00 a.m.         Molly’s Trolleys from Holiday Inn to CMU/Tepper School -Posner Hall

8:15 a.m.         Continental Breakfast


8:45 a.m.         Conference Session III: Tepper School – Posner Hall – Room 151

Chairman:  Stanley Zin


·         Authors:  Marvin Goodfriend and Robert G. King

           Title: Imperfect Credibility and the Volcker Disinflation

           Discussant:  Athanasios Orphanides



·        Authors:  Javier Andres, David Lopez-Salido, and Edward Nelson

          Title:  Sticky-Price Models and the Natural Rate Hypothesis

          Discussant:  Charles Evans




11:45 a.m.       ADJOURN





12:00 p.m.       Box Lunches available.