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Joint BIS/ECB Workshop on “Monetary policy and financial stability”
10–11 September 2009
Thursday
Day 1 - 10 September
| 13:30-13:45 | Welcome: Jaime Caruana |
| 13:45-14:15 | Keynote speech by Lucas Papademos: “Price Stability and Financial Stability: Policy Trade-offs and Central Bank Responsibilities” |
| Session 1: DSGE with Banking Chair: Frank Smets |
|
| 14:15-15:15 | ‘Bank Capital Regulation, Lending Channel and Business Cycles’ by Longmei Zhang
presentation,
paper Discussant: David Vestin discussion |
| 15:15-15:45 | Coffee break |
| 15:45-16:45 | ‘Banks, Credit Market Frictions and Business Cycles’ by Ali Dib
paper,
presentation Discussant: Andrea Gerali discussion |
| 16:45-17:30 | Lecture by Simon Gilchrist lecture |
| 18:45 | Walk to dinner at Gundeldingerhof |
Friday
Day 2 - 11 September
| Chair: Claudio Borio | |
| 8:45-9:15 | Keynote speech by Stephen Cecchetti: “Integrating financial stability: new models for a new challenge” presentation |
| Session 2: Credit cycles and asset price booms | |
| 9:15-10:15 | ‘An empirical assessment of the risk taking channel’ by Yener Altunbas, Leonardo Gambacorta and David Marques-Ibanez
presentation,
paper Discussant: Gabriel Jiménez discussion |
| 10:15-10:45 | Coffee break |
| 10:45-11:45 | ‘Speculative Growth, Overreaction, and the Welfare Cost of Technology-Driven Bubbles’ by Kevin J. Lansing
presentation,
paper Discussant: Ester Faia discussion |
| Session 3: New Transmission Mechanisms | |
| 11:45-12:45 | ‘Risk-Shifting, Fuzzy Capital Requirements and the Build up of Financial Fragility’ by Simon Dubecq, Benoit Mojon & Xavier Ragot
paper Discussant: Christian Upper discussion |
| 13:00-14:00 | Lunch (Rooms RS, Ground floor) |
| Chair: Carsten Detken | |
| 14:15-14:45 | Keynote speech by Randall Kroszner: “Using research in the crisis” |
| Session 3: New Transmission Mechanisms (contd) | |
| 14:45-15:45 | ‘Monetary Policy, Housing Booms, and Financial (Im)Balances in the U.S.’ by Sandra Eickmeier & Boris Hofmann Discussant: Mathias Drehmann |
| 15:45-16:45 | ‘Money Talks: Information and Monetary Policy’ by Marie Hoerova, Cyril Monnet & Ted Temzelides
presentation,
paper Discussant: Olivier Loisel discussion |