Posted 6/12/09
FOURTH INTERNATIONAL CONFERENCE
ON FINANCIAL REGULATION AND SUPERVISION
FINLAWMETRICS 2009
AFTER THE BIG BANG:
RESHAPING CENTRAL BANKING, REGULATION AND SUPERVISION
18-19 June, Bocconi University
STEERING COMMITTEE:
Scientific Coordinators:
- Donato Masciandaro (Bocconi University)
- Geoffrey Miller (New York University)
- Marc Quintyn (International Monetary Fund)
Economics:
- Jerry Caprio (Williams College)
- Kevin Davis (University of Melbourne)
- Jakob De Haan (University of Groningen)
- Sylvester Eijffinger (Tilburg University, CeSIFO and
CEPR)
- Charles Goodhart (London School of Economics)
- George Kaufman (Loyola University Chicago)
- Ross Levine (Brown University)
- Rafael Repullo (CEMFI Madrid and CEPR)
- Pierre Siklos (Wilfrid Laurier University)
- Stijn Claessens (International Monetary Fund)
- Guido Tabellini (Bocconi University and CEPR)
Law:
- Kern Alexander (Queen Mary University of London)
- Fabian Amtenbrink (Erasmus University Rotterdam)
- Rosa Lastra (Queen Mary University of London)
- Geoffrey Miller (New York University)
- Fabio Recine (European Central Bank)
- Hal Scott (Harvard University)
CONFERENCE PROGRAMME:
JUNE 18
PLENARY SESSION ROOM AS01
9:00-10:30
WELCOME ADDRESS
- Donato Masciandaro (Department of Economics and
Paolo Baffi Centre, Bocconi University)
Chair:
- Charles Goodhart (London School of Economics)
Speakers:
- Alex Cukierman (Tel Aviv University and CEPR)
REFLECTIONS ON THE CRISIS AND ON ITS LESSONS FOR
REGULATORY REFORM AND FOR CENTRAL BANK POLICY
Speaker:
- Geoffrey Miller (New York University)
SOMETHING BORROWED, SOMETHING BLUE: IDEAS FOR MANAGING
BANK RISK-TAKING
Speaker:
- Rafael Repullo (CEMFI Madrid and CEPR)
MITIGATING THE PROCYCLICALITY OF BASEL II
Discussion
10:45-12:30
PARALLEL SESSIONS (A1) - ROOM AS01
A1 - CENTRAL BANKING AND REGULATION: ECONOMICS AND LAW
Chair:
- Kern Alexander (Queen Mary University of London)
Speaker:
- Ethan Cohen-Cole (Federal Reserve Bank of Boston and
University of Maryland)
SYSTEMIC RISK, BANKING REGULATION AND MONETARY POLICY
Speaker:
- Rosa Lastra (Queen Mary University of London)
TOWARDS A NEW ARCHITECTURE FOR FINANCIAL STABILITY
Discussion
PARALLEL SESSIONS (B1) - ROOM AS02
CRISIS, BAILOUTS AND REGULATION
Chair: Franco Bruni (Paolo Baffi Centre, Bocconi University)
Speakers:
- Maria Assunta Giannetti (Stockholm School of Economics
and Paolo Baffi Centre Bocconi University)
ON THE REAL EFFECTS OF BANK BAILOUTS: MICRO-EVIDENCE FROM
JAPAN
Speaker:
- Rym Ayadi (CEPS)
CREDIT DERIVATIVES MARKETS: SHOULD THEY BE REGULATED?
Discussion
14:00-16:00
PARALLEL SESSIONS (A2)
DESIGNING BANKING SUPERVISION
Chair:
- Fabio Recine (European Central Bank)
Speaker:
- Jorge Ponce (Toulouse School of Economics)
A NORMATIVE ANALYSIS OF BANKING SUPERVISION:
INDEPENDENCE, LEGAL PROTECTION AND ACCOUNTABILITY
Speaker:
- Joseph A. McCahery (University of Amsterdam)
EMPOWERING THE ECB TO SUPERVISE BANKS: A CHOICE-BASED
APPROACH
Discussion
PARALLEL SESSIONS (B2)
STOCK MARKETS AND REGULATION
Chair:
- Angelo Porta (Paolo Baffi Centre, Bocconi University)
Speakers:
- Douglas J. Cumming (York University and Paolo Baffi
Centre Bocconi University)
EXCHANGE TRADING RULES
Speaker:
- Pierre Siklos (Wilfrid Laurier University)
INSTITUTIONAL FRAMEWORKS, REGULATORY REFORMS AND SPILL-
OVER EFFECTS: THE CHINESE STOCK MARKETS
Discussion
16:30-18:30
PARALLEL SESSIONS (A3)
BANKING GOVERNANCE
Chair:
- Stijn Claessens (IMF)
Speaker:
- Martin Cihak (IMF)
WHO DISCIPLINES BANK MANAGERS?
Speaker:
- Thomas Kick (Bundesbank)
BANK OWNERSHIP AND STABILITY: EVIDENCE FROM GERMANY
Discussion
PARALLEL SESSIONS (B3)
RISK AND REGULATION
Chair:
- Ania Zalewska (University of Bath)
Speakers:
- Andreas Freytag (University of Jena)
WHAT DID 40 YEARS OF COUNTRY RISK ASSESSMENT RESEARCH DO
FOR ENTREPRENEURIAL INVESTORS?
Speaker:
- Nikola A. Tarashev (BIS)
MEASURING PORTFOLIO CREDIT RISK CORRECTLY: THE IMPORTANCE
OF PARAMETER UNCERTAINTY
Discussion
JUNE 19 - POLICY PANEL - ROOM AS01
9:00-10:15
GOING FORWARD: MARKET, REGULATION AND SUPERVISION AFTER
THE FINANCIAL TURMOIL
Chair:
- Donato Masciandaro (Department of Economics and Paolo
Baffi Centre, Bocconi University)
Speakers:
- Lorenzo Bini Smaghi (ECB)
- Sylvester Eijffinger (Tilburg University, CeSIFO and
CEPR)
- George Kaufman (Loyola University of Chicago)
- Corrado Passera (Intesa Sanpaolo)
- Jose Maria Roldan (Banco de Espana)
10:30-12:30
PARALLEL SESSIONS (A4) - ROOM AS01
SUPERVISION: POLICIES AND GOVERNANCE
Chair:
- Marc Quintyn (IMF)
Speakers:
- David G Mayes (Bank of Finland and University of
Auckland)
EARLY INTERVENTION AND PROMPT CORRECTIVE ACTION IN EUROPE
Speaker:
- Marc Quintyn (Banco de Espana)
NATIONAL SUPERVISORY ARCHITECTURES AND GOVERNANCE
STRUCTURES. ISSUES IN CONVERGENCE IN THE EU SETTING
Discussion
PARALLEL SESSIONS (B4) - ROOM AS02
SECURITIZATION AND CREDIT AGENCIES
Chair:
- Jakob De Haan (University of Groningen)
Speaker:
- Fabian Amtenbrink (Erasmus University Rotterdam)
REGULATING CREDIT RATING AGENCIES IN THE EU
Speaker:
- Edward J. Kane (NBER and Boston College)
THE MELTDOWN IN STRUCTURED SECURITIZATION: SEARCHING FOR
LESSONS NOT SCAPEGOATS
Discussion
14:00-16:30
PARALLEL SESSIONS (A5)
BANKING AND FINANCIAL STABILITY
Chair:
- Donato Masciandaro (Department of Economics and Paolo
Baffi Centre, Bocconi University)
Speaker:
- Valentina G. Bruno (American University)
THE REAL EFFECT OF FOREIGN BANKS
Speaker:
- Tigran Poghosyan (University of Gronigen)
DISTRESS IN EUROPEAN BANKS: AN ANALYSIS BASED ON A NEW
DATA SET
Speaker:
- Angela Maddaloni (ECB)
BANK RISK-TAKING, SECURIZATION, SUPERVISION AND LOW
INTEREST RATES
Discussion
PARALLEL SESSIONS (B5)
PROTECTING SAVERS AND INVESTORS, ENHANCING GROWTH: POLICY
AND REGULATION
Chair:
- Thomas Kick (Bundesbank)
Speakers:
- Vivian Hwa (FDIC) and Kenneth Jones (FDIC)
GOVERNMENT BAILOUT POLICY: TOO BIG TO FAIL, CONSTRUCTIVE
AMBIGUITY, AND TOO SMALL TO SAVE
Speaker:
- Lucia Dalla Pellegrina (Bicocca University and Paolo
Baffi Centre, Bocconi University)
SECURITIES CLASS ACTIONS IN THE US BANKING SECTOR:
BETWEEN INVESTOR PROTECTION AND BANK STABILITY
Speaker:
- Bilin Neyapti (Bilkent University)
Bank Regulation and Growth
Discussion