Eighth Edition - Finlawmetrics 2013

Central Banking, Monetary Stability and Systemic Risk: Evolution or Revolution?

17-18, June, Bocconi University

AIM: After seven editions, Finlawmetrics has established itself as a unique forum for scientific and policy analyses and discussions of the most relevant issues related to the evolution of thinking, judgment, and practice in the fields of monetary policy and financial regulation and supervision.

The initiative is scientifically promoted by three leading research centres: The Paolo Baffi Centre on Central Banking and Financial Regulation (Bocconi University), the European Banking Center (Tilburg University) and the Center on Central Banks and Financial Institutions (New York University).

By the early '2000 an increasing numbers of countries had adopted a well defined central bank framework, which was characterized by two intertwined features: the authority becomes specialized in achieving the monetary policy goals, and consequently its traditional responsibilities in pursuing the financial stability were less important in its institutional perimeter.

But then, after the Financial Crisis erupted in 2008, reforms are undertaken and projects are under discussion in order to reconsider the central bank role as well its governance. How to design the new central bank setting in order to address the relationships between monetary, macro e micro prudential policies?

STEERING COMMITTEE:
Coordinators: Donato Masciandaro (Bocconi University), Sylvester Eijffinger (Tilburg University and CEPR), Geoffrey Miller (New York University), Steven Ongena (Tilburg University), Marc Quintyn (Institute for Capacity Development, International Monetary Fund), Tommaso Monacelli (Bocconi University)

Economics: Jerry Caprio (Williams College), Alex Cukierman (CEPR and University of Tel Aviv), Kevin Davis (University of Melbourne), Jakob De Haan (University of Groningen), Charles Goodhart (London School of Economics), George Kaufman (Loyola University Chicago), Iftekhar Hasan (Fordham University), Ross Levine (Brown University), Rafael Repullo (CEMFI Madrid and CEPR), Pierre Siklos (Wilfrid Laurier University), Stijn Claessens (International Monetary Fund)

Law: Kern Alexander (Queen Mary University of London), Fabian Amtenbrink (Erasmus University Rotterdam), Rosa Lastra (Queen Mary University of London), Fabio Recine (European Central Bank), Hal Scott (Harvard University)

CONFERENCE TIMETABLE:

FIRST DAY JUNE 17

9.00-10.30
Room AS01 Via Roentgen 1

Welcome Address: Andrea Sironi (Rector, Bocconi University)

Key note Speeches:
Charles Goodhart (London School of Economics)
Monetary Targetry

Jakob De Haan (University of Groningen, De Netherlandsche Bank and CESifo)
Supervisory Powers and Bank Risk Taking

COFFEE BREAK: Foyer AS01, Via Roentgen

11.00-12.30
1 Room AS01 Via Roentgen 1


Scott Sumner (Bentley University)
Nominal GDP Futures Targeting

Lawrence H. White (George Mason University)
The Merits and Feasibility of Returning to a Commodity Money

LUNCH: Foyer AS01, Via Roentgen 1

14.00-15.30
Room AS01 Via Roentgen 1

George Selgin (Terry College of Business University of Georgia)
Synthetic Commodity Money

Overall Discussion on Monetary Regimes

COFFEE BREAK: Foyer AS01 Via Roentgen 1

16.00-18.00
Room AS01 Via Roentgen 1

Donato Masciandaro and Francesco Passarelli (Paolo Baffi Centre, Bocconi University and SUERF)
Central Banking and Financial Stability: Is Independence Sub-Optimal?

Kasper Roszbach (Sweden Riksbank)
Financial Stability and Central Bank Governance

Martin Cihak (World Bank and IMF)
Central Bank's Financial Stability Reports: What Are They Good For?

DINNER: 19.30, B Bar Via Roentgen 1

SECOND DAY JUNE 18

9.00-10.30
Room AS01 Via Roentgen 1

Frederic Boissay (European Central Bank)
Booms and Systemic Banking Crises

Balint Horvath (Tilburg University)

The Disturbing Interaction Between Countercyclical
Capital Requirements and Systemic Risk

COFFEE BREAK: Foyer AS01 Via Roentgen 1

11.00-12.30
Room AS01 Via Roentgen 1

Fabian Valencia (IMF)
Monetary Policy, Bank Leverage, and Financial Stability

Natalia Tamirisa (IMF)
Monetary Policy and Balance Sheets

LUNCH: Foyer AS01 Via Roentgen 1