Global spillovers: How much do we really know?
Joint workshop of the European Central Bank, the Bank of England and the International Monetary Fund
Tuesday, 26 April and Wednesday, 27 April 2016
Meeting rooms C3.10 and M3.28/29
Frankfurt am Main
Sonnemannstrasse 20
Programme
Tuesday, 26 April 2016
Meeting room C3.10
- 9:30
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Registration & coffee
- 10:00
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Welcome remarks
L. Stracca, Head of International Policy Analysis Division
- 10:15
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Session 1: Spillovers from monetary policy shocks
US monetary policy in a globalised world
J. Crespo Cuaresma, Universität Wien
G. Doppelhofer, Norges Handelshøyskole
M. Feldkircher, Österreichische Nationalbank
F. Huber, Universität Wien
Presentation
Time-variation in US monetary policy spillovers
M. Almeida, Columbia University
R. Straub, European Central Bank
I. Van Robays, European Central Bank
Presentation
Global financial conditions and monetary policy autonomy
C. Caceres, International Monetary Fund
Y. Carrière-Swallow, International Monetary Fund
B. Gruss, International Monetary Fund
Presentation
Session discussant: Paolo Pesenti (Federal Reserve Bank of New York)
Presentation - 11:45
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Coffee break
- 12.15
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Workshop lecture by Roberto Rigobon: Contagion and spillovers
Presentation - 13:45
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Buffet lunch
- 14:45
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Session II: Monetary policy spillovers and emerging economies – a role for coordination?
The expansionary lower bound: currency mismatches and monetary spillovers
P. Cavallino, International Monetary Fund
D. Sandri, International Monetary Fund
Presentation
Crisis, contagion and international policy spillovers under foreign ownership of banks
M. Brzoza-Brzezina, Narodowy Bank Polski
M. Kolasa, Narodowy Bank Polski
K. Makarski, Narodowy Bank Polski
Presentation
Global effects of foreign exchange interventions at the zero lower bound
G. Adler, International Monetary Fund
R. Lama, International Monetary Fund
J. P. Medina, Universidad Adolfo Ibáñez
Presentation
Session discussant: Robert Kollmann (Université Libre de Bruxelles)
Presentation - 16:15
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Coffee break
- 16:45
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Session III: Financial globalisation and spillovers
Housing, leverage, and global liquidity
A. Cesa-Bianchi, Bank of England
A. Ferrero, University of Oxford
A. Rebucci, Johns Hopkins University
Presentation
Financial globalisation, monetary policy spillovers and macro modelling: a tale from one hundred and one shocks
G. Georgiadis, European Central Bank
M. Jancoková, European Central Bank
Presentation
Finance and synchronization
A. Cesa-Bianchi, Bank of England
J. Imbs, Paris School of Economics
J. Saleheen, Bank of England
Presentation - 18:15
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End of day 1
- 18:45
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Dinner (upon invitation only) venue: European Central Bank
Wednesday, 27 April 2016
Meeting room M.28/29
- 09:00
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Arrival and coffee
- 09:30
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Session IV: Spillovers from China
China spillovers: new evidence from time-varying estimates
D. Furceri, International Monetary Fund
J. Tovar Jalles, International Monetary Fund
Presentation
Global trade spillovers: insights from a complex network model
A. Kireyev, International Monetary Fund
A. Leonidov, Lebedev Institute
Presentation
Slowdown in China: implications for international trade
P. Blagrave, International Monetary Fund
E. Vesperoni, International Monetary Fund
Presentation
Session discussant: Iikka Korhonen (Bank of Finland's Institute for Economies in Transition)
Presentation - 11:00
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Coffee break
- 11:30
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Discussion and conclusion: How much do we really know?
Moderators: G. Thwaites and L. Stracca
- 12:30
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Buffet lunch
- 13:30
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End of workshop
- Helge Berger, International Monetary Fund
- Michael Binder, Goethe University Frankfurt
- Patrick Blagrave, International Monetary Fund
- Michał Brzoza-Brzezina, Narodowy Bank Polski
- Michele Ca’ Zorzi, European Central Bank
- Ambrogio Cesa-Bianchi, Bank of England
- Luca Dedola, European Central Bank
- Roberto De Santis, European Central Bank
- Alistair Dieppe, European Central Bank
- Sandra Eickmeier, Deutsche Bundesbank
- Martin Feldkircher, Österreichische Nationalbank
- Fabio Fornari, European Central Bank
- Georgios Georgiadis, European Central Bank
- Bertrand Gruss, International Monetary Fund
- Benjamin Hunt, International Monetary Fund
- Alexei Kireyev, International Monetary Fund
- Robert Kollmann, Université Libre de Bruxelles
- Iikka Korhonen, Bank of Finland's Institute for Economies in Transition
- Anders Kronborg, Danmarks Nationalbank
- Marco Lo Duca, European Central Bank
- Jaime Martínez-Martín, Banco de España
- Peter McAdam, European Central Bank
- Juan Pablo Medina, Universidad Adolfo Ibáñez
- Paolo Pesenti, Federal Reserve Bank of New York
- Roberto Rigobon, Massachusetts Institute of Technology
- Jumana Saleheen, Bank of England
- Damiano Sandri, International Monetary Fund
- Emil Stavrev, International Monetary Fund
- Livio Stracca, European Central Bank
- Roland Straub, European Central Bank
- Marcel Tirpak, European Central Bank
- Gregory Thwaites, Bank of England
- Cédric Tille, Graduate Institute for International and Development Studies
- João Tovar Jalles, International Monetary Fund
- Esteban Vesperoni, International Monetary Fund
- Srecko Zimic, European Central Bank