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Call for papers

Joint BOE, ECB, CEPR and CFM conference on Credit Dynamics and the Macroeconomy

London, 10-11 December 2015

Deadline for paper submissions: 14 August 2015

Credit market dynamics have increasingly influenced macroeconomic developments in recent years. Notably, since the start of the recent Great Recession, credit markets have been a major source of macroeconomic disturbances as well as being important in the transmission of shocks originating elsewhere. Given the likely fundamental changes that credit dynamics has seen in relation to the macroeconomy in recent years, a re-assessment of the theoretical and empirical modelling of the links between credit and macroeconomic variables is warranted.


This conference will bring together policymakers and academics interested in these issues. We welcome submissions of theoretical and empirical papers on the topic, particularly those that focus on the following issues:

  • the implications of the crisis for analysing the role of credit in the macroeconomy, including the bank lending channel before, during and after the crisis
  • empirical studies on the driving forces of credit and channels of transmission of credit shocks, including micro-data studies
  • recent modelling advances in both theoretical (e.g. DSGE) and empirical models, with special focus on the banking sector
  • theoretical and empirical analysis of the recent financial crisis in a global and historical perspective.

Participation as keynote speakers has been confirmed by:

  • Simon Gilchrist (Boston University)
  • Anil Kashyap (Chicago Booth School of Business)
  • Nobuhiro Kiyotaki (Princeton University and CEPR)


We welcome submissions of suitably related theoretical and empirical work, especially using UK or Euro Area data.

The deadline for applying is 14 August 2015.

Please email your paper and the following application form to Nadine Clarke at Authors of successful submissions and accepted participants will be notified by 14 September 2015 at the latest.

The event is hosted by the Bank of England and is co-sponsored by, and organised in collaboration with, the European Central Bank, CEPR and CFM. Limited funding is available for travel expenses for academic participants presenting or acting as discussants. Costs will not be covered for central bank participants.

Organising committee

Carlo Altavilla (European Central Bank), Matthieu Darracq Paries (European Central Bank), Wouter Den Haan (LSE, CEPR and CFM), Rashmi Harimohan (Bank of England), Roland Meeks (Bank of England and CFM), Alberto Musso (European Central Bank), Simon Price (Bank of England, City University and CFM), Morten Ravn (UCL, CEPR and CFM) and Joao Sousa (European Central Bank).

Application form