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- Tercera Conferencia de Estabilidad Financiera
Tercera Conferencia de Estabilidad Financiera
18 – 19 Octubre 2021
Madrid
Información
El Banco de España, en cooperación con el CEMFI, organiza la Tercera Conferencia de Estabilidad Financiera que se celebrará los días 18 y 19 de octubre de 2021 en las instalaciones del Banco de España, en Madrid.
El objetivo de la conferencia es promover la investigación y la discusión de temas relacionados con la estabilidad financiera y la política macroprudencial entre instituciones, académicos y profesionales. La conferencia se celebrará en formato híbrido, con la asistencia presencial de la mayoría de ponentes. El programa incluye presentaciones de trabajos teóricos y empíricos relacionados con la estabilidad financiera. Todos los trabajos presentados tienen asignado un discussant.
Randal Quarles, Vicepresidente de Supervisión del Federal Reserve Board y Presidente del Financial Stability Board, será el invitado especial. Pablo Hernández de Cos, Gobernador del Banco de España, abrirá la conferencia.
El programa también incluye un panel con el tema “Central bank digital currencies and financial stability”, que será moderado por Margarita Delgado, Subgobernadora del Banco de España. Los panelistas invitados son Markus Brunnermeier (Princeton University), Jean-Pierre Landau (Sciences Po) y Jon Cunliffe (Bank of England).
Ponencias
- 18 Octubre 2021
- Opening and Keynote
- 11.00 - 11.30
- 11.30 - 12.20
- Session 1
- 14.00 - 16.00
- Chair: Rafael Repullo, CEMFI
Liquidity insurance vs. credit provision: Evidence from the COVID-19 crisis
(3 MB)
Tumer Kapan, International Monetary Fund
Camelia Minoiu, Federal Reserve BoardDiscussant: Daniel Paravisini
(60 KB), London School of EconomicsPandemic lending: The unintended effects of model-based regulation
(883 KB)
Franco Fiordelisi, University of Essex
Giulia Fusi, European Stability Mechanism
Angela Maddaloni, European Central Bank
David Marqués-Ibáñez, European Central BankDiscussant: Saleem Bahaj
(518 KB), University College LondonUnused bank capital buffers and credit supply shocks at SMEs during the pandemic
(612 KB)
Jose Berrospide, Federal Reserve Board
Arun Gupta, Federal Reserve Board
Matyhew P. Seay, Federal Reserve Board
Discussant: Andrea Polo (467 KB), Luiss University - Panel
- 16.30 - 18.30
- Chair: Margarita Delgado, Banco de España
Margarita Delgado
Central Bank Digital Currencies and Financial Stability
Markus Brunnermeier, Princeton University
Jon Cunliffe, Bank of England
Jean-Pierre Landau, Sciences Po
- 19 Octubre 2021
- Session 2
- 09.00 - 11.00
- Chair: Ángel Estrada, Banco de España
The rise of bond financing in Europe
(398 KB)
Olivier Darmouni, Columbia Business School
Melina Papoutsi, European Central BankDiscussant: Jan-Pieter Krahnen
(134 KB), University of FrankfurtThe value of “new” and “old” intermediation in online debt crowdfunding
(4 MB)
Fabio Braggion, Tilburg University
Alberto Manconi, Bocconi University
Nicola Pavanini, Tilburg University
Haikun Zhu, Erasmus School of Economics RotterdamDiscussant: Dmitry Arkhangelski
(52 KB), CEMFIWho truly bears (bank) taxes? Evidence from only shifting statutory incidence
(2 MB)
Gabriel Jiménez, Banco de España
David Martinez-Miera, Universidad Carlos III de Madrid
José-Luis Peydró, Universitat Pompeu FabraDiscussant: Ernst-Ludwig von Thadden
(641 KB), University of Mannheim - Session 3
- 11.30 - 13.30
- Chair: Olympia Bover, Banco de España
Multiple credit constraints and time-varying macroeconomic dynamics
(659 KB)
Marcus Mølbak Ingholt, Danmarks NationalbankDiscussant: Galo Nuño
(170 KB), Banco de EspañaCredit allocation and macroeconomic fluctuations
(1 MB)
Karsten Müller, NUS Business School
Emil Verner, MIT Sloan School of ManagementDiscussant: Veronica Rappoport
(240 KB), London School of EconomicsOwnership concentration and performance of deteriorating syndicated loans
(289 KB)
Mariassunta Giannetti, Stockholm School of Economics
Ralf R. Meisenzahl, Federal Reserve Board
Discussant: Ansgar Walther (737 KB), Imperial College London - Session 4
- 14.30 - 16.30
- Chair: Javier Suárez, CEMFI
Macrofinancial feedback, bank stress testing and capital surcharges
(428 KB)Tobias Adrian, International Monetary Fund
Jose Berrospide, Federal Reserve Board
Romain Lafarguette, International Monetary FundDiscussant: Loriana Pelizzon
(264 KB), University of FrankfurtSeparating retail and investment banking: Evidence from the UK
(694 KB)Matthieu Chavaz, Bank of England
David Elliott, Bank of EnglandDiscussant: Giovanna Nicodano
(672 KB), University of TurinFinancial stability governance and central bank communications
(386 KB) (805 KB)Juan M. Londono, Federal Reserve Board
Stijn Claessens, Bank for International Settlements
Ricardo Correa, Federal Reserve BoardDiscussant: Oren Sussman
(1 MB), University of OxfordScientific Committee
- Viral Acharya, New York University
- Óscar Arce, Banco de España
- Ángel Estrada, Banco de España
- Mariassunta Gianetti, Stockholm School of Economics
- Steven Ongena, University of Zurich
- Loriana Pelizzon, University of Frankfurt
- Enrico Perotti, University of Amsterdam
- José Luis Peydró, Universitat Pompeu Fabra
- Rafael Repullo, CEMFI
- Javier Suarez, CEMFI
- Ernst-Ludwig von Thadden, University of Mannheim