Ninth BIS CCA Research Conference "Microdata and Economic Research in Central Banks"

hosted by the Central Bank of Brazil in Rio de Janeiro, Monday 4 and Tuesday 5 June 2018.


Monday 4 June 

09:00 - 09:15 Registration
09:15 - 09:30 Opening remarks  by Carlos Viana de Carvalho (Central Bank of Brazil) and Enrique Alberola (BIS)
09:30 - 11:10 Session I - Finance (Part I)
Chair: André Minella (Central Bank of Brazil)
  "Stock market cross-section skewness and business cycle fluctuations

by Thiago R T Ferreira (Federal Reserve Board)
Discussant: Simon Gilchrist (New York University) - discussant presentation


"Loan loss provisions and the mortgage market: evidence from a quasi-natural experiment
by Mauricio Calani and Ricardo Flores (Central Bank of Chile)
Discussant: Kenneth Kuttner (Williams College) - discussant presentation

11:30 - 13:10

Session II - Inflation (Part I)
Chair: Sérgio Lago Alves  (Central Bank of Brazil)


"New information and inflation expectations among firms
by Serafín Frache and Rodrigo Lluberas (Central Bank of Uruguay)
Discussant: Samuel Schulhofer-Wohl (Federal Reserve Bank of Chicago) - Discussion paper


"MIDAS modelling for core inflation forecasting
by Luis Libonatti (Central Bank of Argentina)
Discussant: Jonathan Wright (Johns Hopkins University) - discussant presentation 

15:00 - 16:40 Session III - Finance (Part II)
Chair: Juan Contreras (BIS)

"Funding liquidity without banks: evidence from a shock to the cost of very short-term debt
by Felipe Restrepo, Lina Cardona-Sosa and Philip Strahan (Bank of the Republic, Colombia)
Discussant: Jacopo Ponticelli (Northwestern University) - discussant presentation 


"Through thick and thin: relationship lending, credit supply and loan performance during crises"
by Adrian de la Garza and Bruno López-Videla (Bank of Mexico)
Discussant: Darius Palia (Rutgers University) - discussant presentation

Tuesday 5 June 

09:30 - 10:40 Session IV - Labour markets
Chair: Fabrizio Zampolli (BIS)

"Social insurance and labour supply: unemployment insurance as a subsidy to risky firms"
by Bernardus Van Doornik, Armando Gomes, David Schoenherr and Janis Skrastins (Central Bank of Brazil)
Discussant: Jennifer Brown ( University of British Columbia / University of Utah) - discussant presentation


"Wage dynamics and returns to unobserved skill"
by Lance Lochner, Youngmin Park and Youngki Shin (Bank of Canada)
Discussant: Seth Sanders (Duke University) - discussant presentation

11:00 - 12:30

Policy panel: Microdata in policy
Chair: Enrique Alberola (BIS)

Carlos Viana de Carvalho (Central Bank of Brazil)
Kenneth Kuttner (Williams College)
Jonathan Wright (Johns Hopkins University)
Simon Gilchrist (New York University)
Seth Sanders (Duke University)

12:30 - 12:40 Conclusions and final remarks