Lessons from the Financial Crisis for Monetary Policy.

NBER Research Associate Mark Gertler of New York University organized a conference on "Lessons from the Financial Crisis for Monetary Policy" which took place in Boston on October 18 and 19, 2013. The following papers were discussed:

* Aloisio Araujo and Susan Schommer, Instituto Nacional de Matematica Pura e Aplicada; and Michael Woodford, Columbia University and NBER, "Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints"

* Mark Gertler, and Peter Karadi, European Central Bank, "Monetary Policy Surprises, Credit Costs, and Economic Activity"

* Simon Gilchrist, Boston University and NBER; and David Lopez-Salido and Egon Zakrajsek, Federal Reserve Board, "Monetary Policy and Real Borrowing Costs at the ZLB"

* Lars Svensson, Stockholm University and NBER, "Forward Guidance as a Monetary Policy Tool in Theory and Practice: The Swedish Experience"

* Lawrence Christiano and Martin Eichenbaum, Northwestern University and NBER; and Mathias Trabandt, Federal Reserve...