Menu

Joint CEPR and ECB International Macroeconomics and Finance (IMF) Programme Meeting

Thursday, 14 and Friday, 15 November 2019
ECB Main Building, Conference Area C3.08/09, Frankfurt am Main

Joint CEPR and ECB International Macroeconomics and Finance (IMF) Programme Meeting

The International Macroeconomics and Finance (IMF) Programme is one of the three successors to the International Macroeconomics (IM) Programme, and this meeting is chaired by Philippe Bacchetta (University of Lausanne).

Research in the International Macroeconomics and Finance (IMF) programme covers, but is not limited to:

  • international macroeconomics and stabilisation policy
  • international financial architecture, including global financial safety nets
  • international crisis research
  • currency and international financial markets
  • exchange rate regimes and currency unions
  • other research related to international macroeconomic linkages and policy, including the effects of capital flows and capital controls

Programme

* indicates the presenter

Thursday, 14 November 2019

9:00
Registration
 

First session: Information and bubbles in open economies

9:30

Fast Trading and the Virtue of Entropy: Evidence from the Foreign Exchange Market

Arnaud Mehl*, European Central Bank, joint with Giancarlo Corsetti and Romain Lafarguette

Discussant: Pasquale Della Corte, Imperial College London and CEPR

10:30

Stationary Rational Bubbles in Non-Linear Open Economy DSGE Models

Robert Kollmann*, Université Libre de Bruxelles and CEPR

Discussant: Julien Bengui, Bank of Canada and CEPR

11:30
Coffee break
12:00

Keynote talk

The International Transmission of Monetary Policy

Philip Lane, European Central Bank

13:00
Lunch
 

Second session: Capital flows

14:00

International Capital Flows and Unconventional Monetary Policy

Stephanie Curcuru*, Federal Reserve Board of Governors, jointly authored with Nathan Converse, Aaron Rosenblum and Chiara Scotti

Discussant: Fernando Broner, CREI and CEPR

15:00

International Financial Flows and Misallocation: Not So Harmful After All

Fadi Hassan*, Banca d’Italia, jointly authored with Federico Cingano

Discussant: Ambrogio Cesa-Bianchi, Bank of England

16:00
Coffee break
 

Third session: Protectionism

16:30

Capital Controls, Inflows and the Credit Channel

Andrea Fabiani*, Universitat Pompeu Fabra, jointly authored with Martha López Piñeros, José-Luis Peydró and Paul E. Soto

Discussant: Carolina Villegas Sanchez, ESADE and CEPR

17:30

Self-Harming Trade Policy? Protectionism and Production Networks

Matteo Cacciatore*, HEC - Montréal, joint with Alessandro Barattieri

Discussant: Dennis Novy, University of Warwick and CEPR

19:30
Dinner

Friday, 15 November 2019

 

Forth Session: Financial (dis)integration

9:00

The Inside Baseball of Sudden Stop Models

Jieran Wu*, Zhejiang University, joint with Bingbing Dong and Eric Young

Discussant: Gianluca Benigno, London School of Economics and CEPR

10:00

Monetary Union and Financial Integration

Luca Fornaro*, CREI and CEPR

Discussant: Tommaso Monacelli, Bocconi University and CEPR

11:00
Coffee break
 

Fifth Session: Exchange rates

11:30

The worst of both worlds: Fiscal policy and fixed exchange rates

Benjamin Born*, Frankfurt School of Finance & Management and CEPR, joint with Francesco D’Ascanio, Gernot J. Müller, Johannes Pfeifer

Discussant: Bartosz Maćkowiak, European Central Bank and CEPR

12:30

Institutional Investors, the Dollar, and US Credit Conditions

Friederike Niepmann*, Board of Governors of the Federal Reserve System and CEPR, jointly authored with Tim Schmidt-Eisenlohr

Discussant: Cedric Tille, Graduate Institute Geneva and CEPR

13:30
Lunch and end of the conference

This programme may be subject to change without notice.

General information

Venue

European Central Bank
Conference area C3.08/09, Grossmarkthalle
Main Building
Sonnemannstrasse 20
60314 Frankfurt am Main

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

Sessions

The sessions are structured as follows:

  • author of paper: 35 minutes
  • discussant: 15 minutes
  • questions from the audience: 10 minutes
Organising Committee
  • Philippe Bacchetta, HEC - Université de Lausanne and CEPR
  • Luca Dedola, European Central Bank and CEPR
  • Alberto Martin, European Central Bank, CREI and CEPR
  • Livio Stracca, European Central Bank