5th CCA research conference "Challenges from changing international financial conditions" - Agenda

 last update 9 July 2014

Thursday 22 May 2014


Welcome remarks
José Darío Uribe, Governor, Bank of the Republic, Colombia


Paper presentations: 20 minutes  -  Discussion: 15 minutes  -  Open discussion: 15 minutes


I. Spillovers and other external factors
Chair: Hernando Vargas, Deputy Technical Governor, Bank of the Republic - Colombia


"US unconventional monetary policy and transmission to emerging markets economies", by David Bowman, Juan Londono and Horacio Sapriza (Board of Governors of the Federal Reserve System) (paper, presentation)
Discussant: Emmanuel Mamatzakis (University of Sussex) (presentation)


"Effects of the US quantitative easing on the Peruvian economy", by César Carrera, Rocío Gondo, Fernando Pérez Forero and Nelson Ramírez-Rondán (Central Reserve Bank of Peru) (paper, presentation)
Discussant: Lamont Black, DePaul University (presentation)


I. Spillovers and other external factors (continued)


"Learning about commodity cycles and saving-investment dynamics in a commodity-exporting economy", by Jorge Fornero and Markus Kirchner (Central Bank of Chile) (paper, presentation)
Discussant: Martín Uribe, Columbia University (presentation)


II. Impact of prudential policies
Chair: (Daniel Sámano, Director, Bank of Mexico)


"Credit cycles, credit risk and countercyclical loan provisions", by Martha López (Bank of the Republic - Colombia), Fernando Tenjo (Cemla) and Hector Zárate (Bank of the Republic - Colombia). (paper, presentation)
Discussant: Vasso Ioannidou (Lancaster University) (presentation)


"Bank capital requirements and loan pricing: Loan-level evidence from a macroprudential within-sector policy", by Bruno Martins and Ricardo Schechtman (Central Bank of Brazil). (paper, presentation)
Discussant: João Santos, Federal Reserve Bank of New York (presentation)


II. Impact of prudential policies (Continued)

  6. "Financial institution dynamics and capital regulations", by José-Víctor Ríos-Rull (University of Minnesota), Tamon Takamura and Yaz Terajima (Bank of Canada). (paper, presentation)
Discussant: Rafael Repullo, Center for Monetary and Financial Studies - CEMFI (presentation)


Friday 23 May 2014


III. Macroeconomic and macroprudential policies
Chair: Pamela Cardoso, Chief Monetary and International Investments Officer, Bank of the Republic - Colombia

  7. "Interest rate spreads in an emerging economy under different macroeconomic regimes", by Horacio Aguirre, Tamara Burdisso, Federico Grillo and Emiliano Giuponni (Central Bank of Argentina). (paper, presentation)
Discussant: José Dorich, Bank of Canada (presentation)

"Monetary and macroprudential policies: Interaction and complementarity", by Jessica Roldán-Peña, Daniel Sámano and Alberto Torres (Bank of Mexico). (paper, presentation)
Discussant: Francesco Zanetti, Oxford University (presentation)


IV. BIS CCA Research Network, joint project on "Introducing financial stability considerations into central bank policy models"
Chair: Hyun Song Shin, Economic Adviser and Head of Research, BIS


Overview and policy exercise: 30 minutes  -  Paper presentations: 10 minutes each  -  Discussion: 40 minutes


Overview and policy exercise: Carlos Montoro, BIS (presentation)

  Presentations of selected papers:
  I. Luca Guerrieri (Board of Governors of the Federal Reserve System) (presentation)
  II. Marcos de Castro (Central Bank of Brazil) (paper, presentation)
  III. Markus Kirchner (Central Bank of Chile) (presentation)
  IV. Franz Hamann (Bank of the Republic, Colombia) (presentation)
  V. Julio Carrillo (Bank of Mexico) (presentation)



Closing remarks
Hyun Song Shin (closing remarks)