BoJ-BIS 3rd Annual Workshop of the Asian Research Networks: FS and MPER

Thursday 25 March 2010
Financial Stability (FS) Network Workshop 
Session one: 
"Monetary Policy Effects on Liquidity Crunch in Late 2008: High-Frequency Model of Differentials between Swap-Implied Funding Costs and Money Market Rates", Matthew S. Yiu (HKMA), Wai-Yip Alex Ho (HKMA and Boston University), Lu Jin (HKMA) and Joseph K. W. Fung (Hong Kong Baptist University and HKIMR) 
Discussant: Geun-Young Kim (BOK) 
"Global contagion of volatilities and volatility risk premia", Yoshihiko Sugihara (BOJ)
Discussant: Michael Davies (RBA)
Session two:  
"A Liquidity Risk Stress-Testing Framework with Interaction Between Market and Credit Risks", Eric Wong and Cho-Hoi Hui (HKMA)
Discussant: Naohiko Baba (BOJ)
"Market Liquidity Risk as an Indicator of Financial Stability: The Case of Indonesia", Wimboh Santoso, Cicilia A. Harun, Taufik Hidayat and Hero Wonida (BI)
Discussant: Leo Krippner (RBNZ)
Session three: 
"Measuring Systemic Risk and Financial Linkages in the Thai Banking System", Rungporn Roengpitya and Phurichai Rungcharoenkitkul (BOT)
Discussant: Haibin Zhu (BIS)
"Loan Loss Provisioning and the Business Cycle: Does Capital Matter? Evidence from Philippine Banks", Danvee Floro (BSP)
Discussant: Frank Packer (BIS)
Session four:
"Procyclical management of non-performing loans by the Indian public sector banks", B M Misra and Sarat Dhal (RBI)
Discussant: Daniel Wang (MAS)
Panel Discussion: Panel discussion on financial stability and market issues
Panelists: Xuechun Zhang (PBC) Shinobu Nakagawa (BoJ) Sungwon Lee (FSS, Korea) Titanun Mallikamas (BOT)
Friday 26 March 2010 
Monetary Policy and Exchange Rate (MPER) Network Workshop
Session one: 
"The recent financial market crisis: the impact on banks' funding costs, lending rates, interest margins and on monetary policy transmission", Michael Davies (RBA)
Discussant: Hasni Sha'ari (BNM)
"Impacts of financial factors on emerging market business cycle fluctuations", Ashvin Ahuja, Suchot Piamchol, Paiboon Pongpaichet, Tanawat Ruenbanterng and Surach Tanboon (BOT)
Discussant: Shinobu Nakagawa (BOJ)
Session two:  
"Does bank credit channel of monetary policy matter in the Philippines?", Veronica Bayangos (BSP)
Discussant: Adrian Ng (MAS) 
"Financial integration and economic growth: an empirical analysis using international panel data from 1974-2007", Mitsuhiro Osada and Masashi Saito (BOJ)
Discussant: Leo Krippner (RBNZ)
Session three: 
"The road to recovery: how much can fiscal stimulus and financial rehabilitation contribute?", Zhiwei Zhang and Wenlang Zhang (HKMA)
Discussant: Sahminan Sahminan (BI)
"Double drain, risk of recession and monetary policy in small open economies", Geun-Young Kim (BOK)
Discussant: James Yetman (BIS)
"The urban-rural differences of inflation in China", Xuechun Zhang (PBC)
Discussant: K.U.B. Rao (RBI)