Navigation Path: Home > Events > Conferences & seminars > Joint workshop of the ECB and the IMF on 'Global financial integration, stability and business cycles: exploring the links'
Conference venue:
Eurotower, Kaiserstraße 29, D-60311 Frankfurt am Main, Room CIV, 2 nd floor
The name of the presenter is formatted in bold.
| 08:30 | Registration |
| 09:00 | Opening remarks : O. Issing (ECB) |
Session 1: |
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| 09:15 | An International Financial Transmission Model, M. Ehrmann (ECB), M. Fratzscher (ECB) and R. Rigobon (MIT) pdf 332 kB, en. Discussant : D. Malliaropulos (University of Piraeus and the National Bank of Greece) |
| 10:15 | What Drives International Bank Flows? Politics, Institutions & Other Determinants , E. Papaioannou (London Business School) pdf 2.88 MB, en. Discussant : C. Ostergaard (Norwegian School of Management) |
| 11:15 | Coffee break |
| 11:30 | The Contagion Box: Measuring Financial Markets Co-Movements by Regression Quantiles , L. Cappiello (ECB), B. Gerard (Norwegian School of Management) and S. Manganelli (ECB) pdf 332 kB, en. Discussant : M. Pritsker (Federal Reserve Board) |
| 12:30 | The Real Effect of Banking Crises, G. Dell'Ariccia (IMF), E. Detragiache (IMF), R. Rajan (IMF) pdf 221 kB, en. Discussant : F. Westermann (University of Munich) |
| 13:30 | Lunch Keynote address : T. Padoa-Schioppa (ECB) |
| Session 2: International Financial Integration, Capital Flows and Institutions Chairman: A. Mody (IMF) |
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| 14:30 | Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation, L. Alfaro (Harvard Business School), S. Kalemli-Ozcan (University of Houston) and V. Volosovych (University of Houston) pdf 354 kB, en. Discussant : C. Detken (ECB) |
| 15:30 | Sovereign Credit Ratings and International Portfolio Flows , A. Gande (Vanderbilt University) and D. Parsley (Vanderbilt University) pdf 304 kB, en. Discussant : C. Buch (Tuebingen University) |
| 16:30 | Coffee break |
| 16:45 | Home Bias in Equities under New Open Economy Macroeconomics, C. Engel (University of Wisconsin) and A. Matsumoto (IMF) pdf 329 kB, en. Discussant : K. Adjaoute (HSBC Private Bank) |
| 17:45 | Financial Globalisation and Exchange Rates, P. Lane (Trinity College Dublin) and G. M. Milesi-Ferretti (IMF) pdf 230 kB, en. Discussant : M. Binder (Goethe University, Frankfurt) |
| 20:00 | Dinner at the Frankfurter Hof |
| 08:30 | Registration |
| Session 3: The Role of Real and Financial Linkages in the Synchronisation of the Business Cycle Chairman: F. di Mauro (ECB) |
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| 09:00 | Exploring the International Linkages of the Euro Area: A Global VAR Analysis , S. Dees (ECB), F. di Mauro (ECB), H. Pesaran (University of Cambridge) and V. Smith (University of Cambridge) pdf 956 kB, en. Discussant : R. Wouters (National Bank of Belgium ) |
| 10:00 | Structural Analysis of US and EA Business Cycles , S. Adjémian (Université Maine ), M. Darracq Pariès (ECB) and F. Smets (ECB) pdf 229 kB, en, appendix pdf 920 kB, en. Discussant : A. Levin (Federal Reserve Board) |
| 11:00 | Coffee break |
| 11:15 | Business Cycle Synchronisation in the Enlarged EU, Z. Darvas (Magyar Nemzeti Bank) and G. Szapáry (Magyar Nemzeti Bank) pdf 445 kB, en. Discussant : D. Gros (Centre for European Policy Studies) |
| 12:15 | Synchronised Business Cycles in East Asia and Fluctuations in the Yen/Dollar Exchange Rate , R. McKinnon (Stanford University) and G. Schnabl (Tuebingen University) pdf 138 kB, en. Discussant : M. Melvin (Arizona State University) |
| 13:15 | Lunch |
| 14:30-16.00 | Policy Panel : Changing Real and Financial Linkages: Implications for Transmission of Shocks and for Policy Chairman: O. Issing (ECB) Panellists: J. Gagnon (Federal Reserve Board) W. McKibbin (Reserve Bank of Australia and ANU) J. Murray (Bank of Canada) |
| 16:00 | Coffee break |
| 16.15-17.00 | G. Bekaert (Columbia University) Keynote lecture on The Real Effects of Financial Liberalisation |
| 17.00-18.30 | Policy Panel : International Financial Stability and Integration Chairman: J.-C. Trichet (ECB) Panellists: A. Crockett (JP Morgan Chase International) T. Ito (University of Tokyo) K. Rogoff (Harvard University) |
