Financial system and macroeconomic resilience

BIS Papers  |  No 41  | 
17 July 2008

On 18-19 June 2007, the BIS held its Sixth Annual Conference, on "Financial systems and macroeconomic resilience", in Brunnen, Switzerland. The event brought together senior representatives of central banks, academic institutions and the private sector to exchange views on this topic. This BIS Paper contains the opening address by William R White (Economic Adviser, BIS), the contributions to the policy panel on "Coping with financial distress in a more markets-oriented environment" and the prepared remarks of the participants at the overview panel of the conference. The participants in the policy panel discussion were Donald Kohn (Board of Governors of the Federal Reserve), Armínio Fraga (Gávea Investimentos) and John Gieve (Bank of England). Yi Gang (People's Bank of China), Stanley Fischer (Bank of Israel) and Lucas Papademos (European Central Bank) participated in the overview panel, which was chaired by Malcolm Knight (BIS).

JEL classification: E50, G10, G11, G21, G24, G28


The individual research papers and the discussants' comments presented at this conference are published as BIS Working Papers:

Innovations in credit risk transfer: implications for financial stability, BIS Working Papers No 255
by Darrell Duffie
Comments by Mohamed A El-Erian

Liquidity and financial cycles, BIS Working Papers No 256
by Tobias Adrian and Hyun Song Shin
Comments by Philipp M Hildebrand
Comments by Mary E Barth

Financial system: shock absorber or amplifier?, BIS Working Papers No 257
by Franklin Allen and Elena Carletti
Comments by Yung Chul Park