New challenges for Monetary Policy and Financial Stability

Mise en ligne le 28 Octobre 2024

Conférences
15 Novembre 2024 - 09:00

High quality theoretical and empirical papers on the interaction between monetary policy and financial stability will be presented at this workshop. Monetary policy  and macroprudential policies operates through multiple channels, which ultimately lead them to interact with each other. Monetary policy can affect the price of risk with far-reaching implications, potentially incentivizing risk-taking in the financial system. Conversely, vulnerabilities in the financial markets can affect long-term economic stability. The papers presented focus on the effect of monetary policy decisions on financial stress, the impact of the green transition on the financial landscape and on how monetary policy and macroprudential policies can reinforce each other.

 

The conference will take place in person. 

Programme - Vendredi 15 Novembre 2024

 

9h00 – 9h25 Registration and coffee
9h25 – 9h30 Welcoming remarks
9h30 – 11h00 Session 1 – Monetary policy normalisation  
Chair: Adrian Penalver  

Central Bank Liquidity Reallocation and Bank Lending: Evidence from the Tiering System  
Carlo Altavilla, Miguel Boucinha, Lorenzo Burlon, Mariassunta Giannetti and Julian Schumacher Discussant: Jean Barthélémy
Monetary tightening, inflation drivers and financial stress 
Frederic Boissay, Fabrice Collard, Cristina Manea and Adam Shapiro Discussant: Nicolo Bandera
11h00 – 11h30 Coffee Break
11h30 – 12h30 Keynote speech: José-Luis Peydro  
Chair: Sophie Guilloux- Nefussi
12h30 – 13h45 Buffet lunch
13h45 – 15h15 Session 2 – Finance and climate change  
Chair: Yann Marin 
 
Climate risk, soft information, and credit supply 
Laura Álvarez-Román, Sergio Mayordomo, Carles Vergara-Alert and Xavier Vives 
Discussant: Mattia Girotti 
Too-big-to-strand? Bond versus bank financing in the transition to a low- carbon economy  
Winta Beyene, Manthos Delis, Kathrin De Greiff and Steven Ongena 
Discussant: Urszula Szczerbowicz
15h15 – 15h45 Coffee Break
15h45 – 17h15 Session 3 – Monetary and macroprudential policies 
Chair:  Guillaume Horny 
Capital requirements in light of monetary tightening 
Aurélien Espic, Lisa Kerdelhué, Julien Matheron 
Discussant: Pauline Gandré  
Doubling down: The synergy of CCyB release and monetary policy easing 
Cristina Jude, Grégory Levieuge 
Discussant: Laetitia Lepetit
19h00 Gala dinner