European Central Bank Research Workshop 2023
The calibration of macroprudential policies under different financial and monetary cycles
Monday, 16 October 2023, Frankfurt am Main
Hybrid event – by invitation only
This workshop aims to foster and strengthen dialogue between policymakers and researchers, with a view to enhancing our collective understanding of how macroprudential policies function. The workshop will offer an opportunity to share and review empirical studies, state of the art models and methodological tools in the field of macroprudential policy analysis.
Programme
Times are Central European Time
* indicates the presenter
- 8:45
-
Registration
- 9:15
-
Welcome remarks
Cornelia Holthausen, European Central Bank
- 9:30
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Opening presentation
The interaction of macroprudential policy and monetary policyFrederic Boissay, Bank for International Settlements
Moderator: Cornelia Holthausen, European Central Bank
- 10:15
-
Session 1
The impact of financial conditions on the build-up and materialization of systemic risksModerator: Tomas Garbaravičius, Lietuvos bankas
-
QE: implications for bank risk-taking, profitability and systemic risk
Supriya Kapoor*, Trinity College Dublin
Co-author: Adnan Velic, Technological University DublinDiscussant: Stefan Kerbl, Oesterreichische Nationalbank
-
Macroprudential regulation, quantitative easing, and bank lending
Andrea Orame*, Banca d'Italia
Co-authors: Rodney Ramcharan, University of Southern California, and Roberto Robatto, University of Wisconsin-MadisonDiscussant: Alessio Reghezza, European Central Bank
- 11:45
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Coffee break
- 12:00
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Session 2
Calibration of macroprudential policies under different financial and monetary conditionsModerator: Carsten Detken, European Central Bank
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Macroprudential policy effects: evidence and open questions
Erlend Nier*, International Monetary Fund
Co-authors: Nina Biljanovska, Sophia Chen, Gaston Gelos, Deniz Igan, Maria Soledad Martinez Peria and Fabián Valencia, all International Monetary FundDiscussant: Fátima Silva, Banco de Portugal
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Leaning against persistent financial cycles with occasional crises
Yasin Mimir*, European Stability Mechanism
Co-authors: Thore Kockerols, European Central Bank, and Erling Motzfeldt Kravik, Norwegian Ministry of FinanceDiscussant: Caterina Mendicino, European Central Bank
- 13:30
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Lunch
- 14:30
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Session 3
Alignment of macroprudential policy with the monetary policy stanceModerator: Katrin Assenmacher, European Central Bank
-
Inflationary shocks and the financial stability trade-off
Valerio Scalone*, European Central Bank
Co-authors: Caterina Mendicino, European Central Bank, Kalin Nikolov, European Central Bank, and Dominik Supera, Wharton UPennDiscussant: Lisa Kerdelhué, Banque de France
-
Capital requirements and macroeconomic stability in light of monetary tightening
Aurélien Espic*, Banque de France
Co-authors: Lisa Kerdelhué, Banque de France, and Julien Matheron, Banque de France, Paris School of EconomicsDiscussant: Josef Schroth, Bank of Canada
- 16:00
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Policy panel
Macroprudential policy in the current financial cyclePanellists:
- Erlend Nier, International Monetary Fund
- Jose-Luis Peydro-Alcalde, Imperial College London
- Deniz Igan, Bank for International Settlements
- Mario Quagliariello, European Central Bank
Moderator: John Fell, European Central Bank
- 17:15
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Closing remarks
- 17:30
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End of workshop
This programme may be subject to change without notice.
General information
European Central Bank
Eurotower, C2.01
Kaiserstrasse 29
Frankfurt am Main
English
- Carsten Detken, MPPG co-chair, ECB
- Tomas Garbaravičius, MPPG, co-chair, Lietuvos Bankas
- Marco van Hengel, MPPG Secretary, ECB
- Marco lo Duca, Advisor, ECB
- Evelyn Herbert, IWG Secretary, ESRB
- Anne McTaggart, MPPG Secretariat, ECB
- Rafailaki Melpomeni, MPPG Secretariat, ECB
Organising Committee
[email protected]
ECB-MPPG Secretariat
Anne McTaggart
+49 69 1344 6372 and +49 69 1344 6460
[email protected]