Banco de España in cooperation with CEMFI organizes a series of biennial conferences to promote the research and discussion of topics related to financial stability and macroprudential policy among academics, practitioners, and policy-makers. The second conference was held at Banco de España in Madrid on 3-4 June 2019. The program committee invites submissions of theoretical and empirical papers related to financial stability issues. Papers with a focus on the analytical frameworks and tools for macro-prudential policies to address systemic risk are especially welcome.
Information
3 June 2019 - 4 June 2019
Papers
3 June
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- 13:00h - 13:30h
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A framework for the CCyB
A framework for the CCyB ( 112 KB )
Pablo Hernández de Cos, Banco de España
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- 13:30h - 14:20h
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The role of regulation, implementation and research in promoting financial
The role of regulation, implementation and research in promoting financial
Agustín Carstens, Bank for International Settlements
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- 14:30h - 15:10h
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Macroeconomics effects of bank capital regulation
Macroeconomics effects of bank capital regulation ( 1 MB )
Sandra Eickmeier, Deutsche Bundesbank
, Deutsche BundesbankEsteban Prieto, Deutsche Bundesbank
Discussant:
, Universidad Carlos III de Madrid
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- 15:10h - 15:50h
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Bank risk taking and twin defaults
Caterina Mendicino, European Central Bank
Kalin Nikolov, European Central Bank
Juan Rubio-Ramírez, Emory University
Javier Suárez, CEMFI
Dominik Supera, Wharton School
Discussant:
, Banco de España
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- 15:50h - 16:30h
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The effects of bank capital buffers on bank lending and firm activity: What can we learn from five years of stress-test results?
The effects of bank capital buffers on bank lending and firm activity: What can we learn from five years of stress-test results? ( 21 MB )
, Federal Reserve Board
Rochelle M. Edge, Federal Reserve Board
Discussant:
, University of Wisconsin-Madison
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- 17:00h - 18:00h
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Pricing uncertainty induced by climate change
Pricing uncertainty induced by climate change ( 705 KB )
Lars Peter Hansen, University of Chicago
4 June
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- 09:00h - 09:40h
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LTV limit and borrower risk
LTV limit and borrower risk ( 1 MB )
, Bank of Israel
Discussant:
, Banco de España
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- 09:40h - 10:20h
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How do financial vulnerabilities and bank resilience affect medium-term macroeconomic tail risk?
How do financial vulnerabilities and bank resilience affect medium-term macroeconomic tail risk? ( 5 MB )
David Aikman, Bank of England
Jonathan Bridges, Bank of England
Sinem Hacioğlu Hoke, Bank of England
, Bank of EnglandAkash Raja, Bank of England
Discussant: Gabriel Pérez-Quirós, European Central Bank
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- 10:20h - 11:00h
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The network origins of bank influence: Evidence from bank-to-firm and firm-to-firm linkages
The network origins of bank influence: Evidence from bank-to-firm and firm-to-firm linkages ( 5 MB )
Hans Dewachter, National Bank of Belgium
, KU LeuvenJan Van Hove, KU Leuven
Discussant:
, Northwestern University
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- 11:30h - 12:10h
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Cournot fire sales
Cournot fire sales ( 268 KB )
, Federal Reserve Bank of New York
Gregory Phelan, Williams College
Discussant:
, Yale University
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- 12:10h - 12:50h
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Equity allocation and risk-taking in the intermediation chain
Equity allocation and risk-taking in the intermediation chain ( 5 MB )
, Bank of Italy
Alonso Villacorta, University of California, Santa Cruz
Discussant: , University College London
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- 12:50h - 13:30h
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Collateral booms and information depletion
Collateral booms and information depletion ( 585 KB )
Vladimir Asriyan, CREI
Luc Laeven, European Central Bank
, European Central Bank
Discussant: , Federal Reserve Bank of Atlanta
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- 14:30h - 15:15h
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Negative monetary policy rates and systemic banks’ risk-taking: Evidence from the euro area administrative securities register
Negative Monetary Policy ( 613 KB )
, Deutsche Bundesbank
Angela Maddaloni, European Central Bank
José Luis Peydró, Universitat Pompeu Fabra
Discussant:
, Cass Business School
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- 15:15h - 16:00h
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“Inspect what you expect to get respect” Can bank supervisors kill zombie lending?
“Inspect what you expect to get respect” Can bank supervisors kill zombie lending? ( 698 KB )
Diana Bonfim, Bank of Portugal
, Católica Lisbon SBEHans Degryse, KU Leuven
Steven Ongena, University of Zurich
Discussant:
, University of Oxford
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- 16:00h - 17:00h
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Margarita Delgado, Banco de España
Margarita Delgado, Banco de España ( 116 KB )
Governance structures for macroprudential policy
, European Central BankBenjamin Weigert, Deutsche Bundesbank
, IESE Business School
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- 17:00h - 17:15h
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Margarita Delgado, Banco de España
Margarita Delgado ( 77 KB )
Scientific Committee
Óscar Arce, Banco de España
Steven Ongena, University of Zurich
José Luis Peydró, Universitat Pompeu Fabra
Rafael Repullo, CEMFI
Hélène Rey, London Business School
Tano Santos, Columbia Business School
Jesús Saurina, Banco de España
Isabel Schnabel, University of Bonn
Javier Suárez, CEMFI
