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Julian Hodge Institute of Applied Macroeconomics

European Monetary Forum
Cardiff Business School, Cardiff University & European Monetary Forum.


Parc Thistle Hotel
4–5th April 2014


April 4th



  Chair - Kul Luintel


Parantap Basu “Quantitative Easing in an Endogenous Growth Model


Huw Dixon "The impact of the 2008 crisis on UK prices: what the CPI microdata tell us"



  Chair - Casper de vries


Oren Sussman “A welfare analysis of fragmented liquidity markets


Sean Holly “Technology Shocks and their international transmission”

6.00 for 6.15

Policy Panel: ‘Monetary Policy and regulation: where have we got to and where should we go?’ Panel members: Akos Valentinyi, Jagjit Chadha, Patrick Minford, Mike Wickens (Chair)





April 5th


  Chair - Harris Dellas

8.45 am

Sylvester Eijffinger “Inferring hawks and doves from voting records[slides]


Matt Canzoneri “The Optimal Interest Rate on Reserves




Chair -: Peter Smith


Stephen Wright “If nothing but inflation predicts inflation, how do price-setters do it?”


Nick Fawcett “An evaluation of forecast methods at the Bank of England”




End of Proceedings

Rules of Engagement:
The time allocated for each session includes author's presentation and discussion with participants (there will be no formal discussants) so it is really up to the author to maximise. For guidance authors might think in terms of taking half the time for exposition and the rest in discussion and response. Some may prefer to leave the discussion until they have finished presenting; others (the more normal case) may prefer to have the discussion as they go along.

For the panel panellists should please keep opening remarks brief, to five minutes; then use their right of response to amplify their thoughts as needed.



Michael Arghyrou (Cardiff)
Parantap Basu (Durham)
Arnab Bhattacharjee (Heriot-Watt)
Matt Canzoneri (Georgetown)
Jagjit Chadha (Kent)
Casper de Vries (Rotterdam)
Harris Dellas (Bern)  
Huw Dixon (Cardiff)
Joshi Easaw (Swansea)
Sylvester Eijffinger (Tilburg)
Nicholas Fawcett (Bank of England)
Dale Henderson (Federal Reserve Board)
Sean Holly (Cambridge)
Kul Luintel (Cardiff)
Kent Matthews (Cardiff)
Patrick Minford (Cardiff)
Peter Smith (York)
Oren Sussman (Oxford)
Kun Tian (Cardiff)
Akos Valentinyi (Cardiff)
Mike Wickens (Cardiff)
Stephen Wright (Birkbeck)

Guests for Panel and Dinner

Kevin Beevers (Julian Hodge Bank, Commercial Director)
David Landen (Julian Hodge Bank, Finance Director)
Roger Mansfield (Cardiff Business School, Prof. Emeritus)
Prof. Brian Morgan (Cardiff Metropolitan Univ. School of Management)
Mike Plaut (Northmace and Hendon, Director)
Rudi Plaut (Northmace and Hendon, Director)
Mike Rees (Bruton Knowles, Director)

Please address queries about the conference to Patrick Minford (, and queries about the webpage to Bruce Webb (