Fourth Macroprudential Policy and Research Conference
Monday, 16 and Tuesday, 17 December 2019
ECB main building, Room C3.08/09, Frankfurt am Main
The ECB’s Fourth Macroprudential Policy and Research Conference will bring together 100 or so key players in this field, including central bankers, academics and financial market practitioners. This flagship conference represents a unique opportunity to showcase macroprudential research and its policy applications.
Programme
* indicates the presenter
- 12:30
- Registration and light lunch
- 14:00
-
Opening remarks
Luis de Guindos, Vice-President of the ECB
-
Session 1: Interaction between macroprudential policy and monetary policy
Chair: Massimo Rostagno, ECB
- 14:30
-
The costs of macroprudential deleveraging in a low interest rate environment
- Jack Chen, IMF
- Daria Finocchiaro, Sveriges Riksbank
- Jesper Lindé, IMF
- Karl Walentin*, Sveriges Riksbank
Discussant: Anton Korinek, University of Virginia
Interview with Karl Walentin
- 15:30
-
Monetary and financial policies for emerging markets
- Kosuke Aoki, University of Tokyo
- Gianluca Benigno, LSE
- Nobuhiro Kiyotaki*, Princeton University
Discussant: Alejandro Van der Ghote, ECB
Interview with Nobuhiro Kiyotaki
- 16:30
- Coffee break
- 17:00
-
Competition, stability and efficiency in the banking industry
- Dean Corbae*, University of Wisconsin-Madison
- Ross Levine, UC Berkeley
Discussant: David Martinez-Miera, Universidad Carlos III de Madrid
Interview with Dean Corbae
- 18:00
-
Prudential monetary policy
- Ricardo Caballero, MIT
- Alp Simsek*, MIT
Discussant: Alberto Martin, ECB
Interview with Alp Simsek
- 19:15
- Dinner with speech by Sir Paul Tucker, Harvard Kennedy School
-
Session 2: Bank capital
Chair: Fatima Pires, ECB
- 9:00
-
The impact of bank regulation on the cost of credit: Evidence from a discontinuity in capital requirements
- Emilia Bonaccorsi di Patti, Banca d’Italia
- Mirko Moscatelli, Banca d’Italia
- Stefano Pietrosanti*, University of Pennsylvania
Discussant: Diane Pierret, Luxembourg School of Finance
Interview with Stefano Pietrosanti
- 10:00
-
Bank capital redux: Solvency, liquidity and crisis?
- Òscar Jordà, Federal Reserve Bank of San Francisco
- Björn Richter, University of Bonn
- Moritz Schularick, University of Bonn
- Alan Taylor*, UC Davis
Discussant: Kilian Rieder, Oesterreichische Nationalbank
Interview with Alan Taylor
- 11:00
- Coffee
- 11:30
-
The interdependence of bank capital and liquidity
- Elena Carletti, Bocconi University
- Itay Goldstein, University of Pennsylvania
- Agnese Leonello*, ECB
Discussant: Nicolas Inostroza, University of Toronto
Interview with Agnese Leonello
- 12:30
- Lunch
- 13:30
-
Keynote speech
Can policy tame the credit cycle?
Jeremy Stein, Harvard University
- 14:30
-
Policy panel
- Elga Bartsch, BlackRock
- Vítor Constâncio, former ECB Vice-President
- Anil Kashyap, University of Chicago
- Hyun Song Shin, BIS
Chair: Philip Lane, ECB
- 15:30
-
Coffee break
-
Session 3: Beliefs, politics and macroprudential regulation
Chair: Enrico Perotti, University of Amsterdam
- 16:00
-
Financial policy in an exuberant world
Ansgar Walther*, Imperial College
Discussant: Lin Shen, INSEAD
Interview with Ansgar Walther
- 17:00
-
Electoral cycles in macroprudential regulation
Karsten Müller*, Princeton University
Discussant: Emilia Bonaccorsi di Patti, Banca d’Italia
Interview with Karsten Müller
- 18:00
- End of Conference
This programme may be subject to change without notice.
Audiovisual notice: Please note that media will be attending and photography and filming activities will take place during the event.
General information
European Central Bank
Main building
Room C3.08/09
Sonnemannstrasse 20
60314 Frankfurt am Main
+49 69 1344 0
Fax: +49 69 1344 6000
info@ecb.europa.eu
Participants are requested to arrange their own transfers, unless indicated otherwise.
English
Angela Maddaloni
Florian Heider
Thomas Vlassopoulos
Christoffer Kok
Julia Harms
Directorate General Macroprudential Policy and Financial Stability
+49 69 1344 9864
julia.harms@ecb.europa.eu
Ana Maria Borlescu
Directorate General Research
+49 69 1344 95894
Ana_Maria.Borlescu@ecb.europa.eu