Tuesday, 16 July 2024
10th Asian Monetary Policy Forum to discuss the conduct of monetary policy amid financial market instability
The 10th Asian Monetary Policy Forum (AMPF) brings together leading policymakers and academics to focus on the challenges confronting monetary policy against the current macroeconomic and financial landscape.
This year’s AMPF returns as a fully physical event at Shangri-La, Singapore. The joint dinner for AMPF and the Asian Bureau of Finance and Economic Research (ABFER) was addressed by Amir Sufi, professor from the University of Chicago Booth School of Business.
In his keynote speech, Sufi discussed the interactions between the housing market, household debt and the business cycle in the Asian context. Heng Swee Keat, Deputy Prime Minister and Coordinating Minister for Economic Policies is the special guest at the joint dinner.
Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) will focus on the evolving challenges in securing both price and financial stability within a comprehensive and consistent policy framework. Maurice Obstfeld, professor from the University of California, Berkeley, will deliver the commissioned paper on the determinants of the natural rate of interest, which is an area of central importance for monetary policy in the current macroeconomic context, as well as amid ongoing structural change.
Michael Spence, a professor and recipient of the 2001 Nobel Memorial Prize in Economic Sciences, will deliver the luncheon address on lessons from the 2008 Commission on Growth and Development Report. The study identified the essential “policy ingredients” for sustained economic growth, and Spence will reflect on these findings in light of the key challenges facing economies today. Goh Chok Tong, Emeritus Senior Minister who served on the Commission, will be the special guest at the luncheon.
The AMPF is an annual flagship policy research event of the ABFER, the University of Chicago Booth School of Business, the National University of Singapore (NUS) Business School, and MAS. Since its inception in 2014, the AMPF has emerged as a valuable platform for eminent academics and public and private sector participants to discuss the evolving monetary policy challenges confronting Asian policymakers, with the aim of raising the intellectual level of discourse.
Bernard Yeung, president of ABFER and Stephen Riady, distinguished professor in finance and strategic management at NUS Business School said: “This is the 10th anniversary of the AMPF. Over the years, the forum's discussions have provided significant thoughts on burning monetary policy issues. This is a particularly challenging year because of the volatile global economic environment, uncertain inflation expectations, and the many factors that drive natural real interest rates. ABFER-AMPF 2023 will provide academics, industry practitioners, and central bankers the opportunity to forge innovative insights and approaches that contribute to financial resilience and sustainable growth, especially for this region.”
Steven J. Davis, senior fellow at the Hoover Institution and William H. Abbott, distinguished service professor of International Business and Economics at the University of Chicago Booth School of Business, remarked: “Each year, the AMPF delivers insights that help central bankers tackle pressing policy challenges in Asia and around the world. This year’s forum features another outstanding lineup of speakers. They are sure to stir our thinking and stimulate lively and fruitful discussions. Chicago Booth is delighted to again support this thought-provoking forum in partnership with NUS Business School, ABFER and MAS.”
Andrew K. Rose, distinguished professor and dean of NUS Business School said: “The AMPF holds key importance in the post-pandemic era as it brings policymakers and academics together to address the pressing issue of monetary policy in today's complex environment. Today’s milestone signifies the crucial role that it will continue to play in stabilising the financial landscape across Asia and the world. NUS Business School is pleased to work alongside our partners to contribute to the financial advancement in Asia.”
Edward S. Robinson, deputy managing director for economic policy and chief economist, MAS, said: “Over the years, research presented at AMPF has contributed to a deeper appreciation of the complex interaction between global developments and Asian economies, and helped provide guidance for purposeful policy interventions. As we celebrate the 10th anniversary of the AMPF, the challenging global economic environment underscores the forum’s ongoing importance. We are confident that this year’s AMPF will continue to leverage the collective wisdom of participants to generate insights that can credibly guide robust policymaking.”
Re-disseminated by The Asian Banker
