In their DSGE model, it is particularly interesting to see that the response of the NRI to a technology shock depends crucially on the specification of capital adjustment. 16  Jonathan A. Parker in a comment on Orphanides and Williams (2002).
*  *  *  Ladies and Gentlemen, I am very pleased to welcome you to the conference on “Bretton Woods at 70 – Regaining Control of the International Monetary System”, which is hosted jointly by the Reinventing Bretton Woods Committee, the Austrian Federal Ministry of Finance and by the Oesterreichische Nationalbank.