6th BIS Annual Conference: Financial System and Macroeconomic Resilience
Brunnen, 18-19 June 2007
The proceedings of this conference were published in July 2008.
Programme
Monday, 18 June
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09:00 |
Opening remarks: |
William White (Bank for International Settlements)
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Chair: |
Yaga Reddy (Reserve Bank of India) |
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09:15 |
Session 1: |
Financial intermediation through institutions or markets? |
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Paper title: |
"Financial intermediaries and financial markets" |
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Author: |
Martin Hellwig (Max Planck Institute for Research on Collective Goods) |
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Discussants: |
Bengt Holmström (Massachusetts Institute of Technology)
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11:15 |
Session 2: |
Towards market completeness |
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Paper title: |
"Innovations in credit risk transfer: implications for financial stability" (PDF, 47 pages, 267 kb) |
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Author: |
Darrell Duffie (Stanford University)
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Discussants: |
Mohamed El-Erian (Harvard Management Company)
Kenneth Froot (Harvard Business School)
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Chair: |
Alan Bollard (Reserve Bank of New Zealand) |
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14:15 |
Session 3: |
Accounting and financial system behaviour |
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Paper title: |
"Liquidity and financial cycles" (PDF, 38 pages, 270 kb) |
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Author: |
Hyun Shin (Princeton University) and Tobias Adrian (Federal Reserve Bank of New York)
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Discussants: |
Philipp Hildebrand (Schweizerische Nationalbank)
Mary Barth (Stanford University)
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16:15 |
Session 4: |
Policy panel discussion on "Coping with financial distress in a more markets-oriented environment" |
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Panellists: |
Donald Kohn (Board of Governors of the Federal
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Tuesday, 19 June
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Chair: |
Kazumasa Iwata (Bank of Japan) |
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09:00 |
Session 5: |
Risk transfer to households and macroeconomic resilience |
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Paper title: |
"Risk management for households - the democratization of finance" (PDF, 27 pages, 76 kb) |
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Author: |
Robert Shiller (Yale University)
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Discussants: |
John Campbell (Harvard University)
Jaime Caruana (International Monetary Fund) |
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11:00 |
Session 6: |
Financial system: shock absorber or amplifier? |
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Paper title: |
"Financial system: shock absorber or amplifier?" (PDF, 31 pages, 70 kb) |
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Author: |
Franklin Allen (Wharton School of the University of Pennsylvania) and Elena Carletti (Center for Financial Studies)
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Discussants: |
Raghuram Rajan (University of Chicago)
Yung Chul Park (Seoul National University) |
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14:00 |
Overview Panel |
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Chair: |
Malcolm Knight (Bank for International Settlements) |
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Panellists: |
Yi Gang (People's Bank of China) |
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