Third annual ECB macroprudential policy and research conference

Thursday, 17 and Friday, 18 May 2018
Main Building, Press Conference Room
Frankfurt am Main

Attendance is by invitation only.

Programme

* indicates the presenter

Thursday, 17 May 2018

13:30
Registration
14:00

Opening address

Vítor Constâncio, Vice-President, European Central Bank

14:15

Keynote speech
The foundations of macroprudential policy

Emmanuel Farhi, Harvard University

15:00

Session 1
The macroprudential remit – financial factors and risks

Chair: Luc Laeven, European Central Bank


Markets, banks and shadow banks

Rafael Repullo, Centro de Estudios Monetarios y Financieros, slides

Discussant: Florian Heider, European Central Bank


Brokers and order flow leakage: evidence from fire sales

Francesco Franzoni, Swiss Finance Institute slides

Discussant: Marcin Kacperczyk, Imperial College London

16:40
Coffee break
17:10

Session 2
The effectiveness of macroprudential policies

Chair: Sergio Nicoletti Altimari, European Central Bank


Systemic Risk, Macro Shocks and Macroprudential Policy

Martin Hellwig, Max Planck Institute for Research on Collective Goods slides

Discussant: Suresh Sundaresan, Columbia University


A dynamic model of bank behaviour under multiple regulatory constraints

*Markus Behn, European Central Bank
Claudio Daminato, ETH Zurich
Carmelo Salleo, European Central Bank

Discussant: Anjan Thakor, Washington University at St. Louis (Olin Business School)

18:50

End of day one of conference

19:00

Dinner with speech by Adam Posen, Peterson Institute for International Economics

Friday, 18 May 2018

8:30
Registration
9:00

Keynote speech
The limits and overlaps of macroprudential and monetary policy

Loretta Mester, Federal Reserve Bank of Cleveland

09:45

Session 3
Macroprudential interactions and spillovers

Chair: Massimo Rostagno, European Central Bank


Inspecting Basel III

Stephen G. Cecchetti, Brandeis International Business School
Anil K Kashyap, University of Chicago Booth School of Business

Discussant: Enrico Perotti, University of Amsterdam

10:35
Coffee break
11:00

Coordinating monetary and financial regulatory policies

Alejandro Van der Ghote, European Central Bank slides

Discussant: Giovanni Dell'Ariccia, International Monetary Fund


Evidence on international policy spillovers

Linda Goldberg, Federal Reserve Bank of New York

12:40
Buffet lunch
14:00

End of conference

Please note that this programme may be subject to change without notice.

General information

Conference and dinner venue

European Central Bank
Main building, Press Conference Room
Sonnemannstrasse 20
60314 Frankfurt am Main

+49 69 1344 0
Fax: +49 69 1344 6000
info@ecb.europa.eu

Conference language

English

Organisers

European Central Bank

Luc Laeven
Directorate General Research

Angela Maddaloni
Directorate General Research
Financial Research Division

Carsten Detken
Directorate General Macroprudential Policy and Financial Stability
Macroprudential Policy Division

Sergio Nicoletti-Altimari
Directorate General Macroprudential Policy and Financial Stability

Simone Manganelli
Directorate General Research
Financial Research Division

Stephan Fahr
Directorate General Macroprudential Policy and Financial Stability
Macroprudential Policy Division

Contacts

Anne McTaggart
Directorate General Macroprudential Policy and Financial Stability
+49 69 1344 6372

Britta Bertram
Directorate General Research
+49 69 1344 8340

Conference email: Macropru2018.Conference@ecb.europa.eu