In addition to the theme of modeling uncertainty, this conference will see the presentation of interesting related papers. For instance, these papers will address how we can identify shocks to fiscal variables, and how the Bayesian framework can be applied to detect regime changes or to make macroeconomic models more consistent with the data.
I hope that this conference will serve as a forum for the better understanding of the very nature of the uncertainty that surrounds our economic environment, and for the discussion of how we can manage a range of uncertainties. I believe that our in-depth discussions will lead to a better way of dealing with uncertainty in monetary policy-making.