Following the global financial crisis, emerging as well as advanced economieshave made great efforts to overcome the difficult economic situation throughvarious policy implementations both traditional and unconventional. Yet theglobal economy has been slow to recover and may not return to its pre-crisis growth rate. Moreover, capital flows have been large and volatile, complicatingthe task of central banks around the world.

In this line of thinking, thethree institutions - the Bank of Korea, KoreaInstitute for International Economic Policy and Peterson Institute for International Economics - have launcheda conference to exchange views on monetary policyoptions that open economies would consider under the current global economic situation, invitingdistinguished academics and senior policymakers from aroundthe world.