About this conference
Under the auspices of the Consultative Council for the Americas (CCA), the Americas Office organises Annual Research Conferences, workshops and conferences for the research networks.
Eighth BIS CCA Research Conference on "Low interest rates, monetary policy and international spillovers", hosted by the Board of Governors of the Federal Reserve System, Washington DC, 25-26 May 2017 (Conference venue: Federal Reserve Board, 1801 K Street NW, Washington DC).
Day 1 - 25 May
09:15 - 09:30
Steve Kamin (Board of Governors of the Federal Reserve Systems) and Enrique Alberola (BIS)
09:30 - 11:10
Chair: Enrique Alberola (BIS)
| Risk-taking and interest rates: evidence from decades in the global syndicated loan market | Seung Jung Lee, Lucy Q Liu and Viktors Stebunovs (Fed Board) | Presentation Discussant: Sebnem Kalemli-Ozcan (University of Maryland) | Presentation |
| Channels of US monetary policy spillovers into international bond markets | Elias Albagli, Luis Ceballos, Sebastian Claro and Damian Romero (Central Bank of Chile) (later published as BIS Working Papers, no 719) Discussant: Vivian Yue (Emory University) | Presentation |
11:30 - 13:10
Chair: Enrique Alberola (BIS)
| Assessing the effect of US monetary policy normalisation on Latin American economies | Fernando J Pérez-Forero (Central Reserve Bank of Peru) Discussant: Jeremy Piger (University of Oregon) | Presentation |
| Impact of international monetary policy in Uruguay: a FAVAR approach | Elizabeth Bucacos (Central Bank of Uruguay) | Presentation Discussant: Robert Vigfusson (FED Board) | Presentation |
15:00 - 16:40
Chair: Hyun Song Shin (BIS)
| Optimal unconditional monetary policy, trend inflation and the zero lower bound | Sergio Alfonso Lago Alves (Central Bank of Brazil) | Presentation Discussant: Pablo Guerron-Quintana (Boston College) | Presentation |
| Financial and price stability in emerging market economies: the role of the interest rate | Lorenzo Menna and Martin Tobal (Bank of Mexico) (later published as BIS Working Papers, no 717) Discussant: Pedro Gete (Georgetown University) | Presentation |
Day 2 - 26 May
09:00 - 09:50
Chair: Steve Kamin (Fed Board)
| Could a higher inflation target enhance macroeconomic stability? | Jose Dorich, Nicholas Labelle, Vadym Lepetyuk and Rhys Mendes (Bank of Canada) (later published as BIS Working Papers, no 720) | Presentation Discussant: Pau Rabanal (IMF) | Presentation |
09:50 - 10:40
Chair: Steve Kamin (Fed Board)
| Banking limits on foreign holdings: disentangling the portfolio balance channel | Pamela Cardozo, Fredy Gamboa, David Pérez-Reyna and Mauricio Villamizar-Villegas (Bank of the Republic, Colombia) (later published as BIS Working Papers, no 718) | Presentation Discussant: Kathryn Dominguez (University of Michigan) | Presentation |
11:00 - 12:45
Chair: Steve Kamin (Director, International Finance, Fed Board) | Opening remarks
Panellists:
- Olivier Blanchard (Senior Fellow Peterson Institute, MIT) | Presentation
- Hyun Song Shin (Economic Adviser and Head of Research, BIS) | Presentation
- Alejandro Werner (Director, Western Hemisphere, IMF) | Presentation
- Alexandre Tombini (Executive Director, Brazil, IMF)
12:45 - 13:00
Hyun Song Shin (BIS)
N.B. Paper presentations: 25 minutes - Discussion: 15 minutes - Open discussion: 10 minutes. The presenters of the papers appear in bold.