5th ECB macroprudential policy and research conference
Joint European Central Bank and International Monetary Fund conference
Tuesday, 17 and Wednesday, 18 October 2023
European Central Bank, Frankfurt am Main
Hybrid event
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.
Photos
High-quality images of the conference are available via Flickr.
Programme
Times are Central European Time (UTC+1)
- 13:30
-
Registration and coffee
- 14:00
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Welcome address
Livio Stracca, European Central Bank
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Session 1
Mainstreaming macroprudential policySession chair: Livio Stracca, European Central Bank
- 14:15
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A stocktake of progress in developing the macroprudential policy framework
David Aikman, King’s College London
Discussant: Ozge Akinci, Federal Reserve Bank of New York
- 15:00
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Policy panel
Macroprudential policy: taking stock and approaching new frontiersChair: Tobias Adrian, International Monetary Fund
Panellists:
- Klaas Knot, De Nederlandsche Bank
- Nellie Liang, U.S. Treasury
- Vasileios Madouros, Central Bank of Ireland
- 16:45
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Coffee break
- 17:15
-
Risk-to-Buffer: Setting cyclical and structural capital buffers through banks stress tests
Cyril Couaillier and Valerio Scalone*, both European Central Bank
Discussant: Marco Gross, International Monetary Fund
- 18:00
-
Should macroprudential policy target corporate lending? Evidence from credit standards and defaults
Luis Férnandez Lafuerza* and Jorge E. Galán, both Banco de España
Discussant: Marco Lo Duca, European Central Bank
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Dinner – by invitation only
- 19:00
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Dinner speech
Luis de Guindos, European Central Bank
- End of day 1
- 8:30
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Registration and coffee
-
Session 2
Effectiveness of macroprudential policySession chair: Cornelia Holthausen, European Central Bank
- 9:00
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Keynote speech
Hyun Song Shin, Bank for International Settlements
- 10:00
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The state-dependent impact of changes in bank capital requirements
Jan Hannes Lang*, European Central Bank, and Dominik Menno, Deutsche Bundesbank
Discussant: Anatoli Segura, Banca d’Italia
- 10:45
-
Coffee break
- 11:15
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Evaluating heterogeneous effects of housing-sector-specific macroprudential policy tools on Belgian house price growth
Lara Coulier and Selien De Schryder*, both Ghent University
Discussant: Soner Baskaya, University of Glasgow
- 12:00
-
Role of government policies in smoothing borrowers’ spending during stress: Evidence from UK mortgage moratoria
Bruno Albuquerque, International Monetary Fund, and Alexandra Varadi*, Bank of England and University of Oxford
Discussant: Christoph Basten, University of Zurich
- 12:45
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Lunch break
- 14:00
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Lightning Session: real estate and borrower-based measures
The effectiveness of borrower-based macroprudential policies: a cross-country analysis using an integrated micro-macro simulation model
- Stelios Giannoulakis*, Athens University of Economics and Business
- Marco Forletta, European Central Bank
- Marco Gross, International Monetary Fund
- Eugen Tereanu, European Central Bank
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Micro-assessment of macroprudential borrower-based measures in Lithuania
- Mantas Dirma, Bank of Lithuania
- Jaunius Karmelavičius*, International Monetary Fund
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Mortgage design, repayment schedules and household borrowing
- Claes Bäckman*, Aarhus University
- Patrick Moran, Federal Reserve Board
- Peter van Santen, University of Groningen
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Session 3
New challenges for macroprudential policySession chair: Erlend Nier, International Monetary Fund
- 14:45
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Banking on uninsured deposits
- Itamar Drechsler, University of Pennsylvania
- Alexi Savov*, New York University
- Philipp Schnabl, New York University
- Olivier Wang, New York University
Discussant: Agnese Leonello, European Central Bank
- 15:30
-
Coffee break
- 16:00
-
Climate stress tests, bank lending, and the transition to the carbon-neutral economy
- Larissa Fuchs, University of Cologne
- Huyen Nguyen*, Halle Institute for Economic Research (IWH)
- Trang Nguyen, University of Bristol
- Klaus Schaeck, University of Bristol
Discussant: Zacharias Sautner, University of Zurich
- 16:45
-
Macroprudential policy leakage through firms
- Björn Imbierowicz*, Deutsche Bundesbank
- Axel Loeffler, Deutsche Bundesbank
- Steven Ongena, University of Zurich
- Ursula Vogel, European Central Bank
Discussant: Francesco Saverio Stentella Lopes, Università Roma Tre
- 17:30
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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 5th ECB macroprudential policy and research 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
Room C2.01, 2nd floor, Eurotower
Kaiserstrasse 29
60311 Frankfurt am Main
English
Participants are requested to arrange their own transfers, unless indicated otherwise.
- Erlend Nier, International Monetary Fund
- Livio Stracca, European Central Bank
- Angela Maddaloni, European Central Bank
- Markus Behn, European Central Bank
- Stephan Fahr, European Central Bank
Nikolina Mihilli
+49 69 1344 21319
nikolina.mihilli@ecb.europa.eu
Christine Wehrheim
+49 162 406 16 38
christine.wehrheim@ecb.europa.eu