About the conference
Second BIS Research Network meeting
On 10-11 March 2015, the BIS held the second BIS Research Network meeting, bringing together researchers from academia and central banks exploring long-range research issues related to banking, monetary policy, regulation and financial stability. With macroeconomics and global financial markets as main theme, participants discussed how to measure the macroeconomic impact of monetary policy at the zero lower bound, global asset allocation shifts, what are the new features of the business cycle, and the policy mix in the aftermath of the global financial crisis.
Agenda
Jaime Caruana, Bank for International Settlements | remarks
Chair
Hyun Song Shin, Bank for International Settlements
| Measuring the macroeconomic impact of monetary policy at the zero lower bound | |
|---|---|
| paper presentation | Jing Cynthia Wu and Fan Dora Xia |
| The liquidity premium of near-money assets | |
|---|---|
| paper | Stefan Nagel |
| A shadow policy rate to calibrate US monetary policy at the zero lower bound | |
|---|---|
| paper presentation | Marco Lombardi and Feng Zhu |
Chair
Jean-Charles Rochet
| Stock returns over the FOMC cycle | |
|---|---|
| paper presentation | Anna Cieslak, Adair Morse and Annette Vissing-Jørgensen |
| Global asset allocation shifts | |
|---|---|
| paper presentation | Tim-Alexander Kroencke, Maik Schmeling and Andreas Schrimpf |
| Efficiently inefficient markets for assets and asset management | |
|---|---|
| paper presentation | Nicolae Garleanu and Lasse Heje Pedersen |
Chair
Claudio Borio, Bank for International Settlements
| Monetary policy surprises, credit costs and economic activity | |
|---|---|
| paper presentation | Mark Gertler and Peter Karadi |
| Reconciling Hayek's and Keynes' views of recessions | |
|---|---|
| paper presentation | Paul Beaudry, Dana Galizia and Franck Portier |
| Inflation dynamics during the financial crisis | |
|---|---|
| paper presentation | Simon Gilchrist, Jae Sim, Raphael Schoenle, Jae Sim and Egon Zakrajsek |
Chair
Beatrice Weder di Mauro
| Fiscal multipliers in recessions | |
|---|---|
| paper presentation | Matthew Canzoneri, Fabrice Collard, Harris Dellas and Behzad Diba |
| A model of secular stagnation | |
|---|---|
| paper presentation | Neil Mehrotra and Gauti Eggertsson |
| What drives the short-run cost of fiscal consolidation? | |
|---|---|
| paper presentation | Ryan Banerjee and Fabrizio Zampolli |
Hyun Song Shin, Bank for International Settlements