Macro Economy

Monetary Policy and its Impact during Inflation

Program Overview

Macro Economy Research Conference
19 October 2023
The Okura Prestige Tower, Tokyo

Program

Opening Remarks
Koji Nagai, President, Nomura Foundation
Morning Session
Moderator:Tetsuya Kamiyama, Managing Director, Nomura Institute of Capital Markets Research

A brief history of unconventional monetary easing by the Bank of Japan and Japan’s inflation
Takashi Miwa, Head of Japan Economic Research, Nomura Securities

Federal Reserve: Conflicts Between Monetary Policy and Bank Regulation in Tackling Inflation
Aaron Klein, Miriam K. Carliner Chair and Senior Fellow, Economic Studies, The Brookings Institution

Luncheon Address

Can Japan Achieve a Virtuous Cycle between Wages and Prices?
Tsutomu Watanabe, Professor of Economics,
Graduate School of Economics, The University of Tokyo

Afternoon Session
Moderator: Chi-Hung Kwan, Senior Fellow, Nomura Institute of Capital Markets Research

The Best Way to Fight Inflation
Creon Butler, Director, Global Economy and Finance Programme, Chatham House
Yougesh Khatri, Associate Fellow, Global Economy and Finance Programme, Chatham House

What do strong labour markets tell us about monetary tightening in the euro area, US and UK?
Zsolt Darvas, Senior Fellow, Bruegel
Catarina Martins, former Research Analyst, Bruegel

China’s Prices and Policies under Global Inflation
Daofu Chen, Deputy Director and Researcher, Research Institute of Finance, Development Research Center of the State Council

Closing Remarks
Akiko Nomura, Managing Director, Nomura Institute of Capital Markets Research