8th BIS Annual Conference -Financial System and Macroeconomic Resilience: revisited

25-26 June 2009, Bank for International Settlements, Basel, Switzerland

The proceedings of this conference were published in September 2010. 

Programme

Thursday 25 June

09:00 Opening remarks by Stephen Cecchetti (BIS) (remarks)
09:15 Session 1:
Towards market completeness?
  Chair: Muhammad Al-Jasser (Saudi Arabian Monetary Agency)
  Author: Darrell Duffie (Graduate School of Business, Stanford University) (paper (updated version) and presentation)
  Discussants: Martin Hellwig (Max Planck Institute for Research on Collective Goods)
Philipp Hildebrand (Swiss National Bank) (presentation)
10:45      Session 2:
Accounting and financial system behaviour
  Chair: Miguel Fernández Ordóñez (Bank of Spain)
  Author: Robert Verrecchia (Wharton School, University of Pennsylvania) (paper and presentation)
  Discussants:    Mary Barth (Graduate School of Business, Stanford University) (presentation)
Jean-Pierre Landau (Banque de France) (presentation)
13:30

Session 3:

Liquidity

   Chair: Stanley Fischer (Bank of Israel)
  Author: Jean Tirole (Institut d'Economie Industrielle) (paper (updated version) and presentation)
  Discussant: Franklin Allen (Wharton School, University of Pennsylvania) (presentation)
15:00 Session 4: The future of regulation
  Chair: Lucas Papademos (European Central Bank)
  Author: Hyun Shin (Princeton University) (paper and presentation)
  Discussants: Donald Kohn (Federal Reserve Board) (comments)
José Viñals (International Monetary Fund) (presentation)
16:30 Session 5: Role of government in crisis management
  Chair: Guillermo Ortiz (Bank of Mexico)
  Author: Raghuram Rajan (Graduate School of Business, Universtiy of Chicago) (paper 1, paper 2 and presentation)
  Discussants:

Bengt Holmstrom (Massachusetts Institute of Technology) (presentation)

Jacob A Frenkel (Group of Thirty (G30))

Friday 26 June

09:00      Session 6: Panel
  Chair: Jaime Caruana (BIS)
  Panellists:        William Dudley (Federal Reserve Bank of New York) (remarks)
Masaaki Shirakawa (Bank of Japan) (remarks)
Nout Wellink (De Nederlandsche Bank) (remarks (updated version))
10:45 Session 7:
Household decisions, financial sector and the macroeconomy

  Chair: Duvvuri Subbarao (Reserve Bank of India)
  Author: John Muellbauer (Nuffield College, Oxford University) (paper (updated version) and presentation)
  Discussant: Alan Bollard (Reserve Bank of New Zealand)