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CEBRA is looking for a host of an additional secretariat

As indicated during the annual assembly on September 3rd, the Central Bank Research Association is looking for a central bank or academic institution to host a new secretariat. The envisioned solution is that CEBRA pays for the staff but the host supplies the office space, IT equipment, and ideally management. At current, depending on the wage level in the hosting country, CEBRA can guarantee a 50-100% FTE position. In the long run, the secretariat might employ two FTE positions.

CEBRA is and intends to remain a Swiss Association based in the Canton of Basel City. We have a small secretariat at the University of Basel, but face high costs and capacity constraints. We therefore want to expand with an additional secretariat.

The envisioned tasks of the new secretariat include:

– to organize our annual meeting (which takes place a at a leading university: 2019 at Columbia University, 2020 at LSE, 2021 at MIT Sloan)

– to maintain our contacts with central banks and academia

– to organize smaller research meetings (around 5 1-day workshops per year) 

– to handle billing (our financing is based exclusively on contributions from central banks, IFI’s and other government organizations)

– to maintain the webpage and email databases

The execution of these tasks require excellent command of English and experience in organizing scientific events and networks. Preference will be given to central banks.

The legal arrangement would depend on both Swiss laws and the local laws in the hosting institution. Ideally, the hosting institution would employ the staff, and CEBRA would reimburse the hosting institution for the occurred expenses. Alternatively, CEBRA may be able to employ the person directly (if the host resides within the European Economic Area), or a local subsidiary could be formed.

CEBRA will feature the hosting institution on its webpage and in various communications. Depending on the arrangement, CEBRA is also open to involving (a) delegate(s) from the hosting institution in its executive committee on a long-term basis (for example, in the role of Secretary General or Vice President).

Interested parties are encouraged to contact CEBRA president Raphael Auer (Raphael.auer @ this domain .org) informally. At this stage, no commitment from the potential host is needed, we are only looking for indications of interest. Communications will be shared with the Regional Chapter Heads Luc Laeven (Africa, Europe, and Middle East), Frank Packer (Asia-Pacific), and Mark Wynne (Americas), but will be treated as confidential otherwise.

As we need to start organizing the 2021 annual meeting soon, also the process of reviewing incoming expressions of interest will commence soon. A first review of all received indications of interest will be conducted on 19.09.2020. As long as no hosting institution has been confirmed, also later expression of interests will be taken into full consideration.

Results of the 2018 election of the Central Bank Research Association

The Central Bank Research Association held its 2018 elections on 27.12.2018. The results are as follows:

The following four nominations have been approved by the majority of the votes:

  • Philip Lane, Governor of the Central Bank of Ireland, for a term starting on 05.01.2019 and ending on 31.12.2020, as President of the Senior Council of CEBRA.
  • Mark A. Wynne, Federal Reserve Bank of Dallas, for a term starting on 05.01.2019 and ending on 31.12.2020, as head of the Americas Chapter of CEBRA
  • Frank Packer, Bank for International Settlement, for a term starting on 05.01.2019 and ending on 31.12.2020, as head of the Asia-Pacific Chapter of CEBRA
  • Luc Laeven, European Central Bank, for a term starting on 05.01.2019 and ending on 31.12.2020, as head of the European Chapter of CEBRA.

Also the following four amendments to CEBRA’s bylaws have been approved by the majority of the votes:

  • CEBRA’s bylaws should be updated to explicitly comply with the novel European General Data Protection Regulation (GDPR).
  • CEBRA’s bylaws should be updated to give the chapter heads the power to appoint officers for suitable purposes (subject to approval by the president).
  • CEBRA’s bylaws should be updated to specify a two-year election cycle as the norm (while leaving open the option of having more frequent elections).
  • CEBRA’s bylaws should be updated to give the president, in consultation with the respective regional chapter head, the power to appoint liaison officers for regular terms.

2019 Annual Meeting at Columbia University & NY Fed, July 18-20, 2019, NYC, USA

The 2019 annual meeting of the Central Bank Research Association (CEBRA) brings together academics and central bankers working on policy-relevant research. It is co-organized with School of International and Public Affairs (SIPA) at Columbia University, the Federal Reserve Bank of New York (FRB NY), and the research center Sustainable Architecture for Finance in Europe (SAFE) at Goethe University Frankfurt.

The meeting commences on the afternoon of Thursday, July 18 with a high-level policy discussion organized by the Federal Reserve Bank of New York (committee: Linda Goldberg, Antoine Martin, and Paolo Pesenti) and taking place in 33 Liberty Street. A keynote speech by John C. Williams is followed by a policy panel on “Financial stability: lessons from the crisis” featuring Nellie Liang, Jeremy C. Stein, and others.

The over 30 contributed sessions (see call for papers), as well as, further high level panels take place on July 19 and 20 (Friday and Saturday) at the Kellogg Center at Columbia SIPA:

  • The scientific committee is chaired by Patricia MosserTakatoshi ItoStefanie Schmitt-Grohé, and Michael Woodford (all Columbia University)
  • The Bank for International Settlement (BIS) organizes a high-level policy panel on “Exchange Rates and MonetaryPolicy Frameworks” (committee: Boris Hofmann and Hyun Song Shin (both BIS))
  • Columbia SIPA organizes a further high-level panel (topic and committee TBA), as well as a special panel on “Cyber Risk and Financial Stability” organized by Patricia Mosser (Columbia University)
  • The meeting will conclude with CEBRA’s 2019 annual assembly (chaired by Raphael Auer (BIS and CEBRA)) at around 18.00 on July 20

Submissions for CEBRA’s 2019 are being sought on the below list of themes:

  • Digital currencies, fintech, and technology (sessions 1-3)
  • Regulation, markets, and financial intermediation (sessions 26-31)
  • International economics (sessions 9-13)
  • Macroeconomics, monetary policy, macrofinance, as well as monetary policy frameworks and communication  (sessions 14-25)
  • Inflation dynamics (sessions 6-8)
  • Policy lessons from the history of finance and central banking (sessions 4-5)

CfP: Third Chicago Financial Institutions Conference, Chicago, April 5-6, 2018

The third annual Chicago Financial Institutions Conference will take place in downtown Chicago on April 5-6, 2018.
The call for papers is open and the submission deadline is October 30.  The full call for papers can be found here on SSRN:
Papers can be submitted by email to
This gathering will build on the success of our 2017 conference, which brought together 36 papers for a uniquely curated conference on financial institutions.  We are pleased to continue building on the long tradition of a spring banking conference here in Chicago.
As in previous years, we welcome submissions of high-quality research on all topics related to financial institutions. A list of possible session topics includes, but is not limited to, the theory of financial intermediation; financial sector performance and risk; market-making institutions; banking and the real economy; syndicated lending and securitization; fintech; central banks and monetary policy; relationship lending and small business finance; consumer finance and payment systems; financial crises and systemic risk; governance of financial institutions; international banking; and financial regulation.
Advisory Committee:
Allen Berger – University of South Carolina
Charles Calomiris – Columbia University
Robert DeYoung – University of Kansas
Mark Flannery – University of Florida 
Iftekhar Hasan – Fordham University 
Joseph Haubrich – Federal Reserve Bank of Cleveland
Randall Kroszner – University of Chicago
Steven Ongena – University of Zurich
Greg Udell – Indiana University
Larry Wall – Federal Reserve Bank of Atlanta
The conference will be preceded by a risk management conference with the Federal Reserve Bank of Chicago on April 4.  We believe the combination of these conferences offers a unique opportunity to connect academic and practitioner perspectives.

David Lopez-Salido elected as inaugural Director of Monetary Policy and Macro Finance research program

Dear Members of the Central Bank Research Association,

Earlier this year, we announced our plans to launch a Research Program on the topic of “Monetary Policy and Macro Finance” (MPMF), which will bring together researchers with interests in the intersection of macroeconomics, monetary policy, and financial stability.

The MPMF program is launched by an exclusive founding committee consisting of Tobias Adrian, Alan Blinder, Claudio Borio, Markus K. Brunnermeier, James Bullard, Piti Disyatat, Hans Genberg, Seppo Honkapohja, Athanasios Orphanides, Frank Smets, John Taylor, Kazuo Ueda, and John Williams.

I am happy to announce that the founding committee has elected David Lopez-Salido as the Director of the MPMF program, who has accepted to serve in this position.

David combines experience in policy institutions on both sides of the Atlantic with a wide body of policy-relevant and outstanding research on macroeconomics, monetary policy and the interaction of monetary policy and financial stability.

He is currently an Associate Director in the Division of Monetary Affairs of the Federal Reserve Board, having previously held positions at the Research Department of the Bank of Spain, as well as a visitor positions at the ECB, the Bank of England, the Bank of Finland, NYU and Stanford University. He holds a PhD from CEMFI, Madrid.

He has an extensive list of publications in top academic journals including the American Economic Review, the Quarterly Journal of Economics, the Review of Economic Studies, the American Economic Journal: Macroeconomics, the Journal of Monetary Economics, the Review of Economics and Statistics, and the Journal of the European Economic Association among others. Currently, his publications have received over 8000 citations in Google scholar.

David will join Fabio Ghironi (Director of the ITM Program) and Galina Hale (Director of the IFM program) as CEBRA’s third program Director.  We all look forward to working with David.

Together with the MPMF founding committee and David, we will now proceed to elect the Advisory Committee supporting this program and we will start working on the first MPMF Annual Conference.


With kind regards,

Raphael Auer

President of the Central Bank Research Association

Program: 2017 IFM Conference, “Fragmentation of International Trade and Finance and Risks from Rising Protectionism”, Bank of England, London, 19-20 October

The preliminary program of the 2017 annual conference of the International Finance and Macroeconomics Program on the topic of “Fragmentation of International Trade and Finance and Risks from Rising Protectionism” is now available.  The event is hosted by the Bank of England and takes place on October 19-20 in London.

The pdf of the program can be accessed here (UPDATED on 17.09.2017).

Program_CEBRA – BOE IFM annual meeting_Preliminary_v2

Program: 2017 ITM Conference, “Rethinking Competitiveness, Structural Reforms, and Macro Policy,” Bank of Italy, Rome, 5-6 October

The final program of the 2017 annual conference of the International Trade and Macroeconomics Program on the topic of  “Rethinking Competitiveness, Structural Reforms, and Macro Policy” is now available.  The event is hosted by the Bank of Italy and takes place on October 5-6 in Rome.

The pdf of the program can be accessed here.

ITM Rome October 5_6

Call: ECB/CBRT Conference on “Productivity and Sectoral Reallocation,” Izmir, 6 October 2017.

Access the call here.

Fifth ECB/CBRT Conference

“Productivity and Sectoral Reallocation”

Izmir, 6 October 2017

A multi-sectoral viewpoint in macroeconomics considers, among other things, the process of structural transformation, that is, the reallocation of economic activity across sectors. This perspective has recently gained substantial importance as global productivity growth keeps slowing down and allocation of economic activity from the manufacturing sector to services becomes more visible and eventually unavoidable, also in emerging countries, such as China. Developing a better understanding of the link between productivity and sectoral reallocation should help to shed light on potential future growth and on the policy options to sustain growth.

The Conference

The annual conference, the fifth in a series organised jointly by the Central Bank of the Republic of Turkey (CBRT) and the European Central Bank (ECB), aims to take stock of the advancement in the theoretical literature and to review empirical applications that are relevant to the work of policymakers.

Organising Committee

Filippo di Mauro (National University of Singapore), Livio Stracca (ECB) and Semih Tümen (CBRT).


We welcome contributions on:

  • productivity and sectoral allocation
  • endogenous labour supply and structural transformation
  • the role of services and intangibles in productivity dynamics
  • the importance of the quality of institutions for different sectors
  • sectoral reallocation and income inequality
  • policies to enhance productivity and reduce the inefficiencies associated with sectoral reallocation

Keynote Speaker

Professor Andrei Levchenko, University of Michigan, will give a keynote speech at the conference.


Please submit full papers or extended abstracts to by 30 June 2017. Authors will be notified whether their papers have been accepted by 15 July 2017.


Please address any queries you may have to one of the following organisers: