CEPR-ECB Conference 2023
The macroeconomic implications of central bank digital currencies
Frankfurt am Main, Thursday, 23 and Friday, 24 November 2023
Hybrid event
The Centre for Economic Policy Research (CEPR) and the European Central Bank (ECB) are hosting this joint conference The conference brings together academics and policy makers to discuss theoretical and practical aspects of central bank digital currencies (CBDCs). Relying on a combination of research presentations, keynote speeches and panel discussions, it aims to advance our understanding of the potential benefits and costs of CBDCs from a macroeconomic and policy perspective.
Photos
High-quality images of the conference are available on Flickr.
Programme
Times are Central European Time
* indicates the presenter
- 13:30
-
Welcome and opening of the conference
Piero Cipollone, Member of the Executive Board, European Central Bank, and Dirk Niepelt, University of Bern, CEPR & RPN leader
- 13:35
-
Keynote speech “The cost of not issuing a digital euro”
Fabio Panetta, Governor, Banca d’Italia
Chair: Dirk Niepelt, University of Bern, CEPR & RPN leader
-
Session 1
CBDC and monetary policy transmissionChair: Massimo Ferrari Minesso, European Central Bank
- 14:30
-
Monetary policy pass-through with central bank digital currency
Janet Jiang*, Bank of Canada, and Yu Zhu, Renmin University of China
Discussant: Mariana Rojas Breu, Université Paris II Panthéon-Assas
- 15:15
-
The impact of central bank digital currency on bank deposits and the interbank market
Benjamin Hemingway*, Bank of England
Discussant: Timothy Jackson, University of Liverpool
- 16:00
-
Coffee break
-
Session 2
Side effects of CBDCChair: Arnaud Mehl, European Central Bank & CEPR
- 16:30
-
CBDC and financial stability
- Toni Ahnert*, European Central Bank & CEPR
- Peter Hoffmann, European Central Bank
- Agnese Leonello, European Central Bank
- Davide Porcellacchia, European Central Bank
Discussant: Yu Zhu, Renmin University of China
- 17:15
-
The external financial spillovers of CBDCs
Alessandro Moro* and Valerio Nispi Landi, both Banca d'Italia
Discussant: Livio Stracca, European Central Bank
- 18:00
-
End of day 1
- 8:30
-
Registration and coffee
-
Session 3
CBDC and the banking sectorChair: Toni Ahnert, European Central Bank & CEPR
- 9:00
-
Unveiling the interplay between central bank digital currency and bank deposits
Maria Elena Filippin* and Hanfeng Chen, both Uppsala University
Discussant: Dirk Niepelt, University of Bern & CEPR
- 9:45
-
Central bank digital currency and banking choices
- Andrew Usher*, Bank of Canada
- Jiaqi Li, Bank of Canada
- Yu Zhu, Renmin University of China
Discussant: Nicola Pavanini, University of Tilburg & CEPR
- 10:30
-
Coffee break
-
Session 4
CBDC and monetary policy implementationChair: Katrin Assenmacher, European Central Bank & RPN member
- 11:00
-
CBDC, monetary policy implementation and the interbank market
- Nora Lamersdorf*, Frankfurt School of Economics
- Tobias Linzert, European Central Bank
- Cyril Monnet, University of Bern
Discussant: Anneke Kosse, Bank for International Settlements
- 11:45
-
CBDC and the operational framework of monetary policy
- Galo Nuño*, Bank for International Settlements
- Jorge Abad, Banco de España
- Carlos Thomas, Banco de España
Discussant: Lea Bitter, European Central Bank
- 12:30
-
Lunch
- 13:45
-
End of conference
This programme may be subject to change without notice.
A photographer will be present at the event taking photographs for our internet/intranet webpage. If you prefer not to have your photograph taken, please inform us in advance of the conference. The event may be filmed and the video recording (or parts of it) may be published on the internet / intranet.
General information
European Central Bank
Eurotower
Kaiserstrasse 29
60311 Frankfurt am Main
and WebEx events
English
- Toni Ahnert, European Central Bank & CEPR
- Katrin Assenmacher, European Central Bank & RPN member
- Peter Hoffmann, European Central Bank
- Arnaud Mehl, European Central Bank & CEPR
- Massimo Ferrari Minesso, European Central Bank
- Dirk Niepelt, University of Berne, CEPR & RPN leader
Nina Willenberg
+49 (0) 69 1344 8303
[email protected]