8th Research Workshop - Task Force on Banking Analysis for Monetary Policy
12/09/2022 - 13/09/2022 (Workshops)
Τράπεζα της Ελλάδος
Φιλοξενία του 8th Research Workshop της Ευρωπαϊκής Κεντρικής Τράπεζας – "Task Force on Banking Analysis for Monetary Policy." Το workshop διοργάνωσαν η Ευρωπαϊκή Κεντρική Τράπεζα και η Τράπεζα της Ελλάδος. Η εκδήλωση είχε υβριδική μορφή (διά ζώσης και διαδικτυακή συμμετοχή) και μεταδόθηκε απευθείας διαδικτυακά.
Ακολουθεί παρακάτω το πρόγραμμα (στα αγγλικά):
Day 1: Monday 12 September
9:00 – 9:20 Registration
9:20 – 9:30 Opening remarks
Christina Papaconstantinou, Deputy Governor of the Bank of Greece - Welcome Speech
9:30 – 9:40 Welcoming remarks
Carlo Altavilla, Head of Monetary Analysis at ECB and Task force Chair
9:40 – 11:10 Session 1 – Monetary policy, stock market and investment
Chair: Francesca Barbiero (European Central Bank)
“The Visible Hand when Revenues Stop: Evidence from Loan and Stock Markets during COVID-19”
by Francois Koulischer (University of Luxembourg), Diane Pierret (University of Luxembourg and CEPR), Roberto Steri (University of Luxembourg) - Slides
Discussant: Filippos Petroulakis (Bank of Greece) - Slides
“Monetary Policy and Intangible Investment”
by Robin Döttling (Rotterdam School of Management and Erasmus University), Lev Ratnovski (International Monetary Fund) - Paper
Discussant: Petros Migiakis (Bank of Greece) - Slides
11:10 – 11:30 Coffee break
11:30 – 12:30 Session 2 – Bank resolution and stress testing
Chair: Evaggelia Georgiou (Bank of Greece)
“The Information Content of Stress Test Announcements”
by Luca Guerrieri (Board of Governors of the Federal Reserve System), Michele Modugno (Board of Governors of the Federal Reserve System) - Slides
Discussant: Jorge Abad (Banco de España) - Slides
“Optimal Timing of Policy Interventions in Troubled Banks”
by Philipp J. König* (Deutsche Bundesbank), Paul Mayer (Vienna University of Economics and Business, Vienna Graduate School of Finance), David Pothier (University of Vienna, Vienna Graduate School of Finance)
Discussant: Andrea Tiseno (Bank of Italy)
12:30 – 13:30 Lunch
13:30 – 15:00 Session 3 – Central bank liquidity interventions during the COVID-19 pandemic
Chair: Eugenie Garganas (Bank of Greece)
“Paying banks to lend? Evidence from the Eurosystem’s TLTRO and the euro
area credit registry”
by Emilie Da Silva (Banque de France), Vincent Grossmann-Wirth (Banque de France), Benoît Nguyen (Banque de France), Miklos Vari (Banque de France) - Slides
Discussant: Lorenzo Burlon (European Central Bank) - Slides
“Motivating Banks to Lend? Credit Spillover Effects of the Main Street
Lending Program”
by Camelia Minoiu* (Federal Reserve Bank of Atlanta), Rebecca Zarutskie (Board of Governors of the Federal Reserve System), Andrei Zlate (Board of Governors of the Federal Reserve System) - Paper - Slides
Discussant: Lev Ratnovski* (International Monetary Fund) - Slides
15:00 – 16:00 Keynote address
by Sebnem Kalemli-Ozcan* (University of Maryland)
“Risk-Taking and Monetary Policy Transmission: Evidence from Loans to SMEs and Large Firms”
Chair: Carlo Altavilla (European Central Bank and CEPR)
Day 2: Tuesday 13 September
10:00 – 10:30 Registration
10:30 – 12:00 Session 4 – Monetary policy during crisis episodes
Chair: Miguel Boucinha (European Central Bank)
“Financial fragilities and risk-taking in the aftermath of market stress:
corporate bond funds and
policy interventions after the outbreak of the
COVID-19 pandemic”
by Nicola Branzoli* (Banca d’Italia), Raffaele Gallo (Banca d’Italia), Antonio Ilari (Banca d’Italia), Dario Portioli (Banca d’Italia)
Discussant: Sorcha Foster (Central Bank of Ireland) - Slides
“Public and Private Liquidity during Crises Times: Evidence from Greek Banks”
by Antonis Kotidis (Board of Governors of the Federal Reserve System), Dimitrios Malliaropulos (University of Piraeus and Bank of Greece), Elias Papaioannou (London Business School and CEPR) - Paper - Slides
Discussant: Sergio Mayordomo* (Banco de España) - Slides
12:00 – 12:30 Coffee break
12:30 – 14:00 Session 5 – Drivers of bank performance and lending
Chair: Daphne Papadopoulou (Bank of Greece)
“How do changes in financial reporting standards affect relationship lending?”
by Daniel Dejuan-Bitria (Universitat Pompeu Fabra), Sergio Mayordomo (Banco de España), Irene Roibás (Banco de España) - Paper - Slides
Discussant: Maria Dimou (European Central Bank) - Slides
“Determinants of bank performance: evidence from replicating portfolios”
by Carlo Altavilla (European Central Bank and CEPR), Juliane Begenau (Stanford GSB, NBER, CEPR), Lorenzo Burlon (European Central Bank), Franziska Huennekes* (European Central Bank)
Discussant: Guillaume Horny (Banque de France) - Slides
14:00 – 15:00 Lunch
15:00 – 16:00 Keynote address
by Philipp Schnabl* (NYU Stern)
“Credit Crunches and the Great Stagflation”
Chair: Sarah Holton (European Central Bank)
* Indicates virtual presence