On August 26, the Banco de España was hosted a Day-Ahead Conference prior to the annual meetings of the EEA-ESEM on behalf of the European System of Central Banks. The conference, entitled "Financial Stability: Measurement, Theory, and Policy Analysis", took place in Málaga, Spain. Researchers from the ESCB and other central banks, as well as academics, were invited to participate.
The conference was focused on policy-relevant research related to banking, finance and monetary economics. Topics of interest included financial stability, financial regulation, systemic risk and macroprudential policy. Papers relevant to ongoing policy reforms in the Eurozone and in international regulation of banking and finance were especially welcomed.
Information
26 August 2012
Málaga
Speakers
26 August
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- 09:00h - 11:00h
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Session 1: Evidence on credit supply
“The low monetary rates paradox, banking stability and credit: evidence from the Euro Area”
(605 KB) Angela Maddaloni, European Central Bank
José Luis Peydró, Universitat Pompeu FabraDiscussant: Caterina Mendicino, Banco de Portugal
“The recent slow-down of bank lending in Spain: are supply-side factors relevant?”
(1.020 KB)
Ernesto Villanueva, Banco de España
Ignacio Hernando, Banco de EspañaDiscussant: Ugo Albertazzi, Banca d’Italia
“Shocks abroad, pain at home? Bank-firm level evidence on financial contagion during the recent financial crisis”
(300 KB)
Neeltje van Horen, De Nederlandsche Bank
Steven Ongena, Tilburg University
José Luis Peydró, Universitat Pompeu FabraDiscussant: Héctor Pérez, Bank of Canada
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- 11:30h - 12:10h
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Keynote address 1
“Bank capital regulation in a macroprudential framework”
(630 KB)
Javier Suárez, CEMFI
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- 12:20h - 13:40h
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Session 2: Liquidity requirements
“A theory of bank liquidity requirements”
(180 KB)
Florian Heider, European Central Bank
Charles Calomiris, Columbia University
Maria Hoerova, European Central BankDiscussant: Frederic Malherbe, London Business School
“Systemic liquidity requirements”
(770 KB)
Toni Ahnert, London School of Economics
Ben Nelson, Bank of EnglandDiscussant: Cao Jin, Norges Bank
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- 15:30h - 16:50h
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Session 3: Monitoring and risk-taking
“Credit ratings and bank monitoring ability”
(614 KB)
Leonard Nakamura, Federal Reserve Bank of Philadelphia
Kasper Roszbach, Sveriges RiksbankDiscussant: José Luis Peydró, Univ. Pompeu Fabra
“Executive board composition and bank risk taking”
(859 KB)
Klaus Schaeck, Bangor Business School
Allen Berger, Univ. of North Carolina
Thomas Kick, Deutsche BundesbankDiscussant: Bernd Schwaab, European Central Bank
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- 17:20h - 18:40h
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Session 4: Bubbles
“House prices, credit growth, and excess volatility: implications for monetary and macroprudential policy”
(534 KB)
Kevin Lansing, Federal Reserve Bank of San Francisco and Norges Bank
Paolo Gelain, Norges Bank
Caterina Mendicino, Banco de PortugalDiscussant: Federico Signoretti, Banca d’Italia
“Bubbles, banks and financial stability”
(323 KB)
Kalin Nikolov, European Central Bank
Kosuke Aoki, University of TokyoDiscussant: Sergi Basco, Univ. Carlos III de Madrid
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- 18:50h - 19:30h
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Keynote address 2
Tano Santos, Columbia University