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Fifth ECB/IMF macroprudential policy and research conference

The European Central Bank (ECB) and the International Monetary Fund (IMF) are organising the fifth macroprudential policy and research conference at the ECB, which will take place in the afternoon on Tuesday, 17 October and all day on Wednesday, 18 October 2023 at the premises of the ECB in Frankfurt am Main.

The aim of the conference is to bring together academics, central bankers and interested market participants to discuss topical issues and new frontiers in macroprudential policy. It aims to foster and strengthen a dialogue between researchers, policy makers and practitioners, with a view to enhance our collective understanding of the role and functioning of macroprudential policy. This year’s edition of the conference will focus on the themes of i) mainstreaming macroprudential policy, ii) evidence on the effectiveness of macroprudential policy, and iii) new challenges for macroprudential policy. 

Hyun Song Shin will deliver a keynote speech.

Call for papers

Submission deadline: 22 June 2023


We welcome theoretical and empirical contributions on the three thematical areas outlined above. More specifically, potential topics include the following:

  • Operationalizing objectives for macroprudential policy, including through rules and metrics of the policy stance
  • Effectiveness of macroprudential policy in enhancing financial system resilience, countering procyclicality and shaping incentives
  • Experience with the macroprudential toolkit at global or regional levels, including on the use of capital- and/or borrower-based macroprudential instruments and their interaction
  • Lessons for macroprudential policy from the pandemic, for example on the topics of capital buffer usability or the macroprudential policy space
  • Challenges for macroprudential policy in an environment of elevated inflation and macroeconomic volatility, also including interactions with monetary policy
  • The role of macroprudential policy for non-banks and in the interactions between banks and non-banks
  • Integration of climate-related risks in the regulatory and macroprudential framework

Submission of papers

Submissions of full papers are welcome in PDF to until 22 June 2023. Authors of accepted papers will be notified by 21 July 2023. 

A special issue of the Journal of Banking and Finance will publish selected papers presented at the conference. Authors should indicate at the time of submission whether they would like their paper to be considered for this special issue. Conference papers that are invited for submission for the special issue will be sent out for a formal review according to the usual process and standards for the journal.

Organisational information


The conference will be held at the premises of the European Central Bank in Frankfurt am Main, Germany.


The ECB will cover reasonable travel expenses for those presenting papers and the discussants. Participants from national central banks and other EU institutions are expected to cover their own

Organising committee

  • Markus Behn, ECB
  • Stephan Fahr, ECB
  • Angela Maddaloni, ECB
  • Erlend Nier, IMF
  • Livio Stracca, ECB