Policy Center Lecture: Ardo Hansson (Governor of the Bank of Estonia)
Title: Euro Area Monetary Policy: Effects and Side-effects
Speaker: Ardo Hansson (Governor of the Bank of Estonia)
Moderator: Hans-Helmut Kotz (Co-Program Director of the Policy Center)
The extraordinary monetary easing in the euro area has lasted for almost a decade. During that period the Governing Council of the European Central Bank has used various conventional and unconventional policy tools to support price stability. The lecture will focus on euro area monetary policy. Governor Hansson will discuss the underlying reasoning behind unconventional measures and how they work through the monetary and financial system providing support for the economy and inflation. He will also touch upon possible side-effects of the current relaxed financial conditions.
Ardo Hansson has been Governor of the Bank of Estonia since June 2012. He is also Chairman of the Board of the Bank of Estonia, a Member of the Governing Council of the European Central Bank, and Governor of the International Monetary Fund for Estonia.
Before taking on his current position, Mr Hans¬son worked for the World Bank, where he served as the Lead Economist of the World Bank’s Economics Unit in China from 2008. He joined the World Bank in 1998 and before going to China he worked on several countries in Eastern Europe and the Western Balkans. Between 1991 and 1997, he held several senior positions in the Republic of Estonia, including Economic Adviser to the Estonian Prime Minister in 1992-1995 and in 1997, and adviser to the Minister of Foreign Affairs in 1991-1992. Mr Hansson was also a member of the Monetary Reform Committee, and a member of the Supervisory Board of the Bank of Estonia in 1993-1998. During the 1990s, he was engaged on short-term consulting assign¬ments for the governments of Mongolia, Poland, Slovenia and Ukraine.
Mr Hansson was born in Chicago, in 1958. He graduated with first class honours from the University of British Columbia in 1980 and earned a Ph.D. in economics from Harvard University in 1987. Since completing his studies, he has held faculty and research positions at several well-known universities in Canada, Finland and Sweden, and has published numerous articles on economic policy.