Atlanta Fed sponsors conference on monetary policy and learning - Research Notes & News

EconSouth, Spring, 2003

Learning is central to monetary policy: The monetary authorities learn about the economy as they try to achieve their goals, the public learns about policymakers' objectives, and its learning, in turn, changes the way monetary policy works. Yet the topic of learning and monetary policy has until recently been overlooked in academic and policy circles. A new strand of the literature in macroeconomics is changing this state of affairs. To offer a perspective on this issue, the Federal Reserve Bank of Atlanta sponsored the conference Monetary Policy and Learning in March 2003 and brought together some of the main contributors to the literature.

The conference featured presentations followed by commentary and an open-floor discussion of the paper and related issues. Topics discussed included adaptive learning and the use of forecasts in monetary policy, 'monetary policy mistakes and the evolution of inflation expectations, and learning and adaptation in hyperinflation. For more information about the conference agenda and links to the papers presented, visit the bank's Web site at www.frbatlanta.org and go to News and Events.

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