About the conference
7th BIS Research Network meeting
The seventh BIS Research Network meeting took place on 8-9 March 2018, bringing together researchers from academia and central banks exploring long-range research issues related to banking, monetary policy, regulation and financial stability. The first day set the coordinates of the macro-modelling frontier at central banks. Chris Sims wrapped up the opening session with a keynote speech on central bank macro-modelling. The second day - opened by Frank Smets' remarks - explored promising avenues for pushing the frontier forward. The role of financial cycles in macroeconomic dynamics and the channels and challenges of monetary policy transmission were the themes discussed. Markus Brunnermeier rounded off the conference with a keynote on blockchain economics.
Agenda
Chair
Stijn Claessens, Bank for International Settlements
| Introductory remarks | Luiz Awazu Pereira da Silva, Bank for International Settlements |
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| Session 1 | |
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| presentation presentation presentation | Marco del Negro, Federal Reserve Bank of New York Ed Herbst, Board of Governors of the Federal Reserve System Sebastian Schmidt, European Central Bank |
| Session 2 | |
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| presentation presentation presentation | Naohisa Hirakata (presentation), Bank of Japan Angelo Fasolo (presentation), Central Bank of Brazil Kolver Hernández (presentation), Bank of Mexico |
| Session 3 | |
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| presentation presentation presentation | Jens Iversen (presentation), Sveriges Riksbank Yasin Mimir (presentation), Norges Bank Francesca Monti (presentation), Bank of England |
| Keynote speech | Christopher Sims, Princeton University |
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Chair
Claudio Borio, Bank for International Settlements
| Introductory remarks | Frank Smets, European Central Bank |
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| International spillovers and local credit cycles | |
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| presentation paper discussion | Şebnem Kalemli-Özcan, University of Maryland (with Y Baskaya, J di Giovanni and M Ulu) Discussant Galina Hale, Federal Reserve Bank of San Francisco |
| A macroeconomic model with financial panics | |
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| presentation paper | Andrea Prestipino, Board of Governors of the Federal Reserve System (with M Gertler and N Kiyotaki) Discussant Ester Faia, Goethe University Frankfurt |
| Financial crises and lending of last resort in open economies | |
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| presentation paper discussion | Guido Lorenzoni, Northwestern University (with L Bocola) Discussant Anton Korinek, Johns Hopkins University |
Chair
Hyun Song Shin, Bank for International Settlements
| The transmission of monetary policy shocks | |
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| presentation paper discussion | Silvia Miranda-Agrippino (presentation), Bank of England (with G Ricco) Discussant Marco Del Negro (presentation), Federal Reserve Bank of New York |
| The term structure of growth-at-risk | |
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| presentation paper discussion | Nellie Liang (presentation), The Brookings Institution (with T Adrian, F Grinberg and S Malik) Discussant Frank Schorfheide (presentation), University of Pennsylvania |
| Keynote lecture | Blockchain economics Markus Brunnermeier, Princeton University (with J Abadi) |
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