The 22nd NBP conference on monetary policy issues

Monetary Policy In The Environment of Structural Changes

24 - 25 October 2002, in Falenty near Warsaw


First day, October, 24

9:00 - 10:00 Registration
10:00 Introduction -
- dr Adam Czyżewski - Head of Macroeconomic and Structural Analysis Department,
National Bank of Poland
10:00 - 10:15 Opening of the Conference -
- Prof. Leszek Balcerowicz - President of the National Bank of Poland

Session I

Structural Changes and the Effectiveness of Monetary policy

10:15 - 13:00

- Chaired by prof. Cezary Józefiak , Member of the Monetary Policy Council,

"On Selected Interrelations Between Structural Changes and Monetary Policy" -
- Andrzej Wojtyna - University of Economics, Krakow
"Structural Changes vs. Monetary Policy" -
- Francesco Lippi - Bank of Italy, CEPR
"Structural Factors in Contemporary Theories of the Monetary Transmission Mechanism" -
- Ryszard Kokoszczyński, - National Bank of Poland
- Tomasz Łyziak, - National Bank of Poland
- Ewa Wróbel - National Bank of Poland
"The Effects of Structural Changes in the Financial Sector on the Monetary Transmission Mechanism" -
- Jan Marc Berk - De Nederlandsche Bank
Coffee break

- Chaired by Dr Grzegorz Wójtowicz, Member of the Monetary Policy Council

"Ownership Structure in the Hungarian Banking Sector and the Effectiveness of Monetary Policy" -
- Zsolt Kondrat, - National Bank of Hungary
- Gergely Koczan, - National Bank of Hungary
"Foreign Capital in the Polish Banking Sector and the Effectiveness of Monetary policy" -
- Marcin Gruszczyński, - Warsaw University
- Katarzyna Dąbrowska, - Warsaw University
"Changes in Structure of Large and Medium Enterprises in Times of Transformation and the Impact of Monetary Policy" -
- Piotr Boguszewski - National Bank of Poland
"Current Trends in State-owned Industries - Signals for the Monetary Policy" -
- Wojciech Rogowski - National Bank of Poland

Comments by:
  • Jan Macieja, Polish Academy of Sciences,

  • Witold Jakóbik, Polish Academy of Sciences,

  • Andrzej Raczko, University of Lodz,

  • Krzysztof Rybiński, Bank BPH-PBK SA, Group HVB

Questions and Discussion

Session II

Labour Markets and Monetary Policy

14:00 - 17:30

- Chaired by Dr Jerzy Pruski, Member of the Monetary Policy Council

"Economic Growth and Demand for Labour" -
- Adam B. Czyżewski - National Bank of Poland
"Job Creation and Job Destruction in Poland" -
- Jan Rutkowski - The World Bank
"Structural Determinants of Natural Rate of Unemployment" -
- Eugeniusz Kwiatkowski - University of Lodz
"Productivity Growth and New Technologies - the Need for Structural Reform" -
- Neale O. Kennedy - European Central Bank
- Focco Vijselaar - European Central Bank
"New Economy and Monetary Policy" -
- Gilbert Cette - Bank of France

Comments by:

Questions and Discussion

Second day, October, 25

9:00 - 10:00 Special Lecture - Structural Issues for Successful Inflation Targeting in Transition Countries
- Prof. Frederic S. Mishkin - Columbia University
Questions and Discussion

Session III

Interrelations between Fiscal and Monetary Policy

10:30 - 13:45

- Chaired by: prof. Wiesława Ziółkowska, Member of the Monetary Policy Council

"Fiscal Policy Problems in Formulating a Policy Mix" -
- Andrzej Wernik - Institute of Finance
"The Optimum Policy Mix - What Does the US Experiences Tell Us?" -
- Kenneth Kuttner - Federal Reserve Bank, New York
Coffee break
"The ECB's Monetary Policy and its Relation to Fiscal Policy" -
- Klaus Masuch - European Central Bank
"Factors Influencing T-Bond Yields in Poland: From Portfolio Investors' Perspective" -
- Andrzej Sławiński - National Bank of Poland
- Stanisław Kluza - Warsaw School of Economics
"The Impact of Public Borrowing Needs on the Yield Curve in Poland" -
- Piotr Marczak - Ministry of Finance

Comments by:

Questions and Discussion
Closing Remarks -
- dr Andrzej S. Bratkowski - Vice President of the National Bank of Poland

Copyright © 2002 NBP