„#CEBRA2020 – Session 13 International Economics, organized by OECD at LSE“

CEBRA’s 2020 Annual Meeting at LSE & Bank of England 

This session was organized by the Organisation for Economic Co-operation and Development (OECD)

Parallel Session 2: International Economics, Session 13: Capital Flows, Financial Intermediation and Productivity

Chair: Etienne Lepers (OECD) & Lilas Demmou (OECD)

Speakers:

Macro-financial Interactions in a Chainging World” Eddie Gerba (Bank of England) joint with Daniel Leiva-Leon

Discussant: Yves Schüler (Deutsche Bundesbank)

“International Financial Flows and Misallocation” Fadi Hassan (Bank of Italy) joint with Federico Cingano 

Discussant: Liliana Varela (LSE)

„Foreign Investment and Domestic Productivity: Identifying Knowledge Spillovers and Competition” Vadym Volosovych (Erasmus School of Economics) joint with Christian Fons-Rosen, Sebnem Kalemli-Ozcan, Bent E. Sorensen and Carolina Villegas-Sanchez 

Discussant: Holger Görg (Kiel Institute for the World Economy)

„#CEBRA2020 – Session 9 Markets, Currencies, and Payments, organized by CEBRA IFM at LSE“

This session was organized by CEBRA`s International Finance and Macroeconomics Program (IFM)  

Parallel Session 2: Banking, Debt, Risks, Regulation, Session 9: New Developments in the Global Debt Markets

Chair:   Ambrogio Cesa-Bianchi (Bank of England) & Galina Hale (FRB San Francisco)

Speakers:

“Differential Treatment in the Bond Market: Sovereign Risk and Mutual Fund Portfolios”  Nathan Converse (Federal Reserve Board) joint with Enrico Mallucci

“The Making of Global Safe Assets” Maurizio Habib (ECB) joint with Fabrizio Venditti and Livio Stracca

“Avoiding Sovereign Default Contagion: A Normative Analysis” Sergio de Ferra  (Federal Reserve Board)  joint with Enrico Mallucci

“Cross-country Co-movements in Sovereign-bond Markets: Accounting for the Fundamental and Information” Paula Margaretic (Universidad de San Andrés) and David Moreno (Banco Central de Chile) joint with Alejandro Bernales

„#CEBRA2020 – Session 34 Markets, Currencies, and Payments, organized by CEBRA at LSE“

CEBRA’s 2020 Annual Meeting at LSE & Bank of England 

This session was organized by CEBRA 

Parallel Session 1: Markets, Currencies, and Payments, Session 34: The Economics of Cryptocurrencies and Decentral Consensus

Chair: Cyril Monnet (BIS)

Speakers:

“Global Demand for Basket-Backed Stablecoins” Jean Flemming (Federal Reserve Board) joint with Garth Baughman

“Committee Blockchain Consensus Protocol as Game versus Adversaries” Bruno Biais (Toulouse School of Economics)

“Too Big to Cheat: Mining Pools‘ Incentives to Double Spend in Blockchain Based Cryptocurrencies” Ville Savolainen (Hanken School of Economics) joint with Jorge Soria

“Ride the Lightning: Turning Bitcoin into Money” Peter Zimmerman (FRB Cleveland) joint with Anantha Divakaruni

„#CEBRA2020 – Session 25 Monetary Policy and Macro Finance, organized by CEBRA – MPMF“

CEBRA’s 2020 Annual Meeting at LSE & Bank of England 

This session was organized by CEBRA`s  Monetary Policy and Macro Finance (MPMF). 

Parallel Session 1: Monetary Policy and Macro Finance, Session 25: Macroeconomic Heterogeneity and Monetary Policy

Chair: Ambrogio Cesa-Bianchi 

Speakers:

“Crossing the Credit Channel: Credit Spreads and Firm Heterogeneity” Ambrogio Cesa-Bianchi (Bank of England) joint with Gareth Anderson

„Consumption Heterogeneity: Micro Drivers and Macro Implications” Edmund Crawley (Federal Reserve Board) joint with Andreas Kuchler

“Household Debt and the Heterogeneous Effects of Forward Guidance” Francesco Ferrante and Matthias Paustian (both Federal Reserve Board)

„Monetary Policy, Labor Income Redistribution and Credit Channel: Evidence from Matched Employer-Employee and Credit Registers” Caterina Mendicino (ECB) joint with Martina Jasova, Ettore Panetti, José-Luis Peydró and Dominik Supera

„#CEBRA2020 – Session 11 International Economics, organized by ECB at LSE“

CEBRA’s 2020 Annual Meeting at LSE & Bank of England 

This session was organized by the European Central Bank (ECB). 

Parallel Session 1: International Economics, Session 11: Spillovers in a Low-for-long Environment

Chair: Georgios Georgiadis & Fabrizio Venditti (ECB) 

Speakers:

“US Banks and Global Liquidity” Ricardo Correa (FRB) joint with Wenxin Du, Gordon Liao

“Optimal Monetary Policy under Dollar Pricing” Konstantin Egorov (New Economic School) joint with Dmitry Mukhin

“Risk, Uncertainty and Monetary Policy in a Global World” Marie Hoerova (ECB) joint with Geert Bekaert and Nancy Xu

“Capital Flow Deflection under the Magnifying Glass” Etienne Lepers (OECD) joint with Filippo Gori and Caroline Mehigan

„#CEBRA2020 – Session 1 Banking, Debt, Risks, Regulation, organized by the FSB at LSE“

CEBRA’s 2020 Annual Meeting at LSE & Bank of England 

This session was organized by the Financial Stability Board (FSB) .

Parallel Session 1: Banking, Debt, Risks, Regulation, Session 1: Evaluating the Effects of Too-big-to-fail Reforms 

Chair: Matteo Aquilina (FSB)

Speakers: 

“Bank Funding Costs and Capital Structure” Andrew Gimber (Bank of England) joint with Aniruddha Rajan, Discussant: Magdalena Tywoniuk (University of Geneva)

“Bail-in vs Bail-out: Bank Resolution and Liability Structure” Andrea Tarelli (Catholic University of Milan) joint with Luca Leanza and Alessandro Sbuelz, Discussant: Christina Batali (ECB)

“Believing in Bail-in? Market Discipline and the Pricing of Bail-in Bonds” Grant Turner (Reserve Bank of Australia) joint with Ulf Lewrick and José Maria Serena, Discussant: Rhiannon Sowerbutts (BoE)  

   

„#CEBRA20 – Session 6 Drivers and Dynamics of Inflation & The Macroeconomics of Climate Change, organized by Norges Bank at LSE“

CEBRA’s 2020 Annual Meeting at LSE & Bank of England 

This session was organized by the Norges Bank at LSE.

Parallel Session 6: Drivers and Dynamics of Inflation & The Macroeconomics of Climate Change, Session 3: Inflation Dynamics and the Phillips Curve 

Chair:  Francesco Furlanetto (Norges Bank)    

Speakers:      

„Who Killed the Phillips Curve? A murder Mystery” Jae Sim (Federal Reserve Board) joint with David Ratner

„Anchored Inflation Expectations and the Flatter Philips Curve” Kevin Lansing (FRB San Francisco) joint with Peter Lihn Jørgensen

“Inflation at Risk” Francesca Loria (Federal Reserve Board) joint with David Lopez-Salido

“The death and the resurrection of the Phillips Curve” Drago Bergholt (Norges Bank) joint with Francesco Furlanetto and Etienne Vaccaro Grange

           

„#CEBRA20 – Session 28 Inflation Expectations & Household Consumption, organized by Sveriges Riksbank“

CEBRA’s 2020 Annual Meeting at LSE & Bank of England

This session was organized by the Sveriges Riksbank at LSE.

Parallel Session 3: Drivers and Dynamics of Inflation & The Macroeconomics of Climate Change, Session 28: The Challenges imposed by Climate Change

Chair: Conny Olovsson (Sveriges Riksbank), Tor Jacobson (Sveriges Riksbank)

Speakers:

“The Macroeconomic Effects of Carbon Taxes: The Role of Investment and Emission Rates Heterogeneity” Giuseppe Fiori (Federal Reserve Board) joint with Nora Traum

“Understanding Macro and Asset Price Dynamics During the Climate Transition” Steffen Hitzemann (Rutgers University) joint with Michael Donadelli and Patrick Grüning

 “The Rising Cost of Climate Change: Evidence from the Bond Market” Glenn Rudebusch (FRB San Francisco) joint with Michael D. Bauer

“Asset Pricing and Decarbonization: Diversification versus Climate Action” Rick van der Ploeg (University of Oxford) joint with Christoph Hambel and Holger Kraft

„#CEBRA20 – Session 6 Inflation Expectations & Household Consumption , organized by ABFER at LSE“

CEBRA’s 2020 Annual Meeting at LSE & Bank of England

This session was organized by the ABFER at LSE.

Parallel Session 1: Drivers and Dynamics of Inflation & The Macroeconomics of Climate Change, Session 6: Inflation Expectations and Household Consumption

Chair: Michael Weber (University of Chicago), Bernard Yeung (NUS Business School)

Speakers:

Rupal Kamdar (Indiana University, Bloomington) “Polarized Expectations” by Rupal Kamdar & Walker Ray

Ricardo Nunes (University of Surrey) “Inflation Expectations, Interest Rates, and Consumption Behavior“ Ricardo Nunes & Donghyun Park

Dimitris Georgarakos (ECB) “Forward Guidance and Household Expectations” Dimitris Georgarakos, Michael Weber, Olivier Coibion & Yuriy Gorodnichenko

Yeow Hwee Chua (National University of Singapore) „Inflation Expectations of Households and the Upgrading Channel“ Sumit Agarwal, Yeow Hwee Chua & Changcheng Song