Financial market imperfections and macroeconomics: conference summary

The Federal Reserve Bank of San Francisco’s annual macroeconomics conference focused this year on the theme “Financial Market Imperfections and Macroeconomics.” Conference papers> explored the empirical and theoretical performance of the U.S. and international economies before, during, and after a financial crisis. Financial crises are typically associated with severe economic downturns, but monetary policy can help to offset some of these effects. The unconventional monetary policies pursued by many central banks after the most recent crisis may have helped prevent it from becoming much worse. ; This Economic Letter summarizes papers presented at the “Financial Market Imperfections and> Macroeconomics” conference held March 5, 2010, at the Federal Reserve Bank of San Francisco.> Conference papers are listed at the end and are available online.Financial crises ; Financial markets ; Macroeconomics