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14th BIS Annual Conference

26 June 2015 | Lucerne, Switzerland

About the conference

The 14th BIS Annual Conference focused on "Towards a 'new normal' in financial markets?".

Specific issues discussed included:

  • Banks and markets before and after the crisis
  • Investor behaviour and the wider economy
  • Who provides market liquidity?
  • Has technology changed the nature of risks in financial markets?

The conference proceedings were published in the BIS Papers No 84 May 2016.

Jaime Caruana, Bank for International Settlements

Chair

Glenn Stevens, Reserve Bank of Australia

Speaker

Gary Gorton, Yale School of Management | presentation

Paper

Mobile Collateral versus Immobile Collateral

Discussants

  • Randall S Kroszner, University of Chicago Booth School of Business | presentation
  • Andrei Kirilenko, MIT Sloan School of Management | presentation

Chair

Lars Rohde, Danmarks Nationalbank

Speaker

Andrei Shleifer, Harvard University | presentation

Paper

Expectations and Investment

Discussants

  • Philipp Hildebrand, BlackRock | paper
  • Richard Clarida, Columbia University | presentation

Chair

Elvira Nabiullina, Central Bank of the Russian Federation

Speaker

Bruno Biais, Toulouse School of Economics | presentation

Paper

Who supplies liquidity, how and when?

Discussants

  • Arminio Fraga, Gávea Investments | paper
  • Francesco Papadia, Bruegel | paper

Chair

Rodrigo Vergara, Central Bank of Chile

Speaker

Andrew Lo, MIT Sloan School of Management | abstract, presentation

Discussant

Darrell Duffie, Stanford University | presentation

Chair

Agustín Carstens, Bank of Mexico

Panellists

  • Raghuram Rajan, Reserve Bank of India
  • Paul Tucker, Harvard Kennedy School | paper

John Kay, London School of Economics