13th Macroeconomic Policy Research Workshop on
The Changing Role of Central Banks Post-Crisis
October 16-17, 2014 Budapest, Hungary
New venue: Restaurant Kárpátia
Address: 1053. Budapest, Ferenciek ter 7-8. at M3 Ferenciek tere metro station
PROGRAM
October 16, Thursday
08:30 – 09:00
Registration (Magyar Nemzeti Bank, Address: Szabadság tér 9.)
09:00 – 09:10
Ádám Balog (Magyar Nemzeti Bank)
Welcome address
Session 1
Chair:Dániel Palotai(Magyar Nemzeti Bank)
09:10-10:00
Javier Suarez (CEMFI, ECGI and CEPR)
Capital Regulation in a Macroeconomic Model with Three Layers of Default (joint with L. Clerc, A. Derviz, C. Mendicino, S. Moyen, K. Nikolov, L. Stracca, A. Vardoulakis)
Discussant: Balázs Világi (Magyar Nemzeti Bank)
10:00-10:50
Hernán Seoane (Universidad Carlos III de Madrid)
Sovereign Risk, Private Credit, and Stabilization Policies (joint with R. Pancrazi and M. Vukotic)
Discussant: Eyno Rots (Magyar Nemzeti Bank)
10:50 – 11:00 Coffee break
Session 2
Chair: Balázs Vonnák (Magyar Nemzeti Bank)
11:00 – 11:50
Ibolya Schindele (BI Norwegian Business School and Magyar Nemzeti Bank)
In Lands of Foreign Currency Credit, Bank Lending Channels Run Through? (joint with S. Ongena and D. Vonnák )
Discussant: Gábor Kőrösi (Hungarian Institute of Economics and CEU)
11:50 – 12:40
Neeltje van Horen (De Nederlandsche Bank)
The Impact of Sovereign Debt Exposure on Bank Lending (joint with A. Popov)
Discussant: Tim Eisert (Goethe University Frankfurt and New York University)
12:40 – 14:00 Lunch
Chair: Miklós Koren (Central European University, Hungarian Institute of Economics and CEPR)
14:00 – 15:15
Keynote Speech
Luc Laeven (IMF, Tilburg University, ECGI and CEPR)
15:15 – 15:40 Coffee break
Session 3
Chair:Barnabás Virág(Magyar Nemzeti Bank)
15:40 – 16:30
Tomasz Wieladek (Bank of England)
How Does Credit Supply Respond to Monetary Policy and Bank Minimum Capital Requirements? (joint with S. Aiyar and C. W. Calomiris)
Discussant: Robert Kollmann (ECARES)
16:30 – 17:20
Special speaker
Richard Portes (London Business School, European University Institute and CEPR)
Macroprudential Policy from a Macroeconomic Perspective
19:30 Danube cruise with dinner
October 17, Friday
Session 4
Chair: István Kónya(Magyar Nemzeti Bank)
9:00-9:50
Olivier Loisel (ENSAE-CREST and Banque de France)
Optimal Monetary and Prudential Policies (joint with F. Collard, H. Dellas, and B. Diba)
Discussant: Lóránt Kaszab (Magyar Nemzeti Bank)
9:50 – 10:40
Salvatore Nisticó (Universita di Roma La Sapienza)
Safe Assets, Liquidity and Monetary Policy (joint with P. Benigno)
Discussant: Paolo Gelain (Norges Bank)
10:40 – 11:00 Coffee break
Session 5
Chair: Viktor Várpalotai(Magyar Nemzeti Bank)
11:00 – 11:50
Luca Dedola (European Central Bank and CEPR)
The Mystery of the Printing Press: Monetary Policy and Self-fulfilling Debt Crises (joint with G. Corsetti)
Discussant: Tamás Briglevics (Magyar Nemzeti Bank)
11:50 – 12:40
Philippe Andrade (Banque de France)
Heterogenous Beliefs and Forward Guidance (joint with G. Gaballo, E. Mengus and B. Mojon)
Discussant: Alessia Campolmi (University of Glasgow and CEU)
12:40 – 14:00 Lunch
Chair: Julius Horváth (Central European University)
14:00 – 15:15
Keynote Speech
Charlie Bean (London School of Economics and CEPR)
15:15 – 15:40 Coffee break
Session 6
Chair: Steven Ongena(University of Zurich, SFI, and CEPR)
15:40 – 16:30
Harald Hau (University of Geneva, GFRI, and SFI)
Asset Allocation and Monetary Policy: Evidence from the Eurozone (joint with S. Lai)
Discussant: András Fülöp (ESSEC Business School)
16:30 – 17:20
Eugenio Cerutti (International Monetary Fund)
Global Liquidity and Drivers of Cross-Border Bank Flows (joint with S. Claessens and L. Ratnovski)
Discussant: Alessandro Fontana (European Commission)
Organizing committee:
- Wouter Den Haan (London School of Economics and CEPR)
- Anna Naszódi (Magyar Nemzeti Bank)
- Steven Ongena (University of Zurich, SFI, and CEPR)
- Ibolya Schindele (BI Norwegian Business School and Magyar Nemzeti Bank)
- Balázs Világi (Magyar Nemzeti Bank)
The program of last year’s workshop can be found at:
http://english.mnb.hu/Kutatas/academic-conferences/mnben_konf_elozo/12th-macroeconomic-ws