9th International Conference on Sovereign Bond Markets

Conference dates

27 Apr 2023 - 28 Apr 2023


Carroll School of Management, Boston College


Dear Colleagues and Friends,
It is our pleasure to invite you to attend the 9th International Conference on Sovereign Bond Markets.

The conference this year focuses on Sovereign Bond Markets in Unstable Times, and it is hosted by the Carroll School of Management, Boston College. Co-organizers include the NYU Stern/Volatility and Risk Institute, the Leibniz Institute for Financial Research SAFE, the Imperial College/Brevan Howard Centre for Financial Analysis, London Business School/AQR Asset Management Institute, the Bank of Canada, the Deutsche Bundesbank, and the European Central Bank.


Recent financial and real instability presented numerous unprecedented challenges to central banks and governments in both industrialized countries and emerging markets. As financial markets digest the latest round of QE unwinding, rampant inflation takes root in developed economies while the protracted war in Ukraine and new coronavirus waves in China both strain global supply chains and destabilize the pre-existing economic and geopolitical order. This unprecedented confluence of challenges will force policy makers to adopt new strategies, often untested, in order to fight inflation and ensure stable deficit funding while minimizing the potential distortions of their actions on both Wall Street and Main Street --- from liquidity drainage to excessive economic contraction to volatility and financial instability.

We solicit theoretical and empirical papers on the interactions between sovereign bond markets and conventional and unconventional monetary policy, regulation, fiscal policy, foreign exchange, and the macroeconomy in unstable times. Topics of interest include (but are not limited to):
• Unconventional monetary policies during periods of turmoil and:
1. Pricing of financial assets and exchange rates
2. Divergent policy-making around the globe
3. Market participants, primary dealers, and other institutions
4. Risk taking by banks
5. Spillovers and network effects from the US/Europe/Japan to other economies
6. Spillovers and network effects across asset classes
7. Currency regimes
8. Investment and financial decisions of firms
9. Financial market liquidity.
• The impact of inflation-motivated monetary and fiscal policies on the sovereign bond markets
• Financial stability in an unstable world and:
1. Sovereign risk in inflationary or recessionary economies
2. Quantitative tightening
3. The bank-sovereign “doom loop”
4. Financial dislocations and their real effects.

While the above topics define the broad contours of the areas of interest, papers in related areas may also be considered. The final program will include both submitted and invited papers. The conference will also feature a panel discussion on the major outstanding issues in sovereign bond markets.

Those wishing to present a paper at the Conference should submit by December 1, 2022 at sovereign.conference@greta.it.
Decisions regarding acceptance will be made by February 1, 2023.
The final version of accepted papers must be received by March 1, 2023.

Please visit the conference webpage at https://www.greta.it/index.php/it/sbm-2023 for further information about the current and past conferences.

The Scientific Committee for this Conference includes
Rui Albuquerque, Carroll School of Management, Boston College
Pierluigi Balduzzi, Carroll School of Management, Boston College
Kartik Anand, Deutsche Bundesbank
Antonio Diez de los Rios, Bank of Canada
Robert Engle, NYU Stern
Michael Fleming, Federal Reserve Bank of New York
Edith Hotchkiss, Carroll School of Management, Boston College
Simone Manganelli, European Central Bank
Emanuel Moench, Frankfurt School
Paolo Pasquariello, Ross School of Business, University of Michigan
Loriana Pelizzon, Leibniz Institute SAFE
Stephen Schaefer, London Business School
Philip Strahan, Carroll School of Management, Boston College
Marti G. Subrahmanyam, NYU Stern
Milena Wittwer, Carroll School of Management, Boston College
Toshinao Yoshiba, Bank of Japan and Tokyo Metropolitan University