- Second Research Workshop of the Macroprudential Policy Group on
“Macroprudential instruments: effectiveness and interactions”
Monday, 10 July
Magyar Nemzeti Bank, Budapest, Hungary
Attendance is by invitation only.
- 9:00
-
Opening remarks by Márton Nagy, Deputy Governor of the Magyar Nemzeti Bank
-
Session 1: Macroprudential Policies: Costs and Benefits Considerations
Chair: Márton Nagy, Magyar Nemzeti Bank
- 9:05
-
Cross-border banking, macroprudential policy and monetary policy in a monetary union
Presenter: Elena Rancoita, European Central Bank
Co-authors: Matthieu Darracq-Pariès (European Central Bank)
Christoffer Kok (European Central Bank)Discussant: Pierlauro Lopez, Banque de France
- 9:40
-
Credit supply shocks and macroprudential policies: combining sign restrictions and proxy VARs
Presenter: Gerhard Rünstler, European Central Bank
Co-author: Katarzyna Budnik (European Central Bank)Discussant: Esteban Prieto, Deutsche Bundesbank
- 10:15
- Coffee break
- 10:35
-
Keynote speaker: Raphael Auer, Bank for International Settlements
The countercyclical capital buffer and the composition of bank lending
Co-author: Steven Ongena (University of Zurich and Swiss Finance Institute)
-
Session 2: Residential Real Estate Sector
Chair: Benjamin Weigert, Deutsche Bundesbank
- 11:20
-
Macroprudential policy in an agent-based model of the UK housing market
Presenter: Arzu Uluc, Bank of England
Co-authors: Rafa Baptista (Institute for New Economic Thinking)
J. Doyne Farmer (Institute for New Economic Thinking)
Marc Hinterschweiger (Bank of England)
Katie Low (Institute for New Economic Thinking)
Daniel Tang (Bank of England)Discussant: Eyno Rots, Magyar Nemzeti Bank
- 11:55
-
Household Credit, Global Financial Cycle, and Macroprudential Policies: Credit Register Evidence from an Emerging Country
Presenter: Irina Mihai, Banca Naţională a României
Co-authors: Mircea Epure (Universitat Pompeu Fabra and Barcelona GSE)
Camelia Minoiu (International Monetary Fund)
José-Luis Peydró (Universitat Pompeu Fabra and Barcelona GSE)Discussant: Tibor Szendrei, Magyar Nemzeti Bank
- 12:30
- Lunch
- 14:00
-
Keynote speaker: Reint Gropp, Halle Institute for Economic Research
Bank response to higher capital requirements: Evidence from a quasi-natural experiment
Co-authors: Steven Ongena (University of Zurich and Swiss Finance Institute)
Thomas Mosk (Goethe University Frankfurt)
Carlo Wix (Goethe University Frankfurt) -
Session 3: Effects of Bank Capital Buffers on Lending and Risk Taking
Chair: Carmelo Salleo, European Central Bank
- 14:45
-
Macroprudential policy, O-SII bank capital buffers and their effects: Evidence from the Euro Area Experiments
Presenter: Giuseppe Cappelletti, European Central Bank
Co-authors: Aurea Ponte Marques (European Central Bank)
Paolo Varraso (European Central Bank)Discussant: Tomas Reichenbachas, Lietuvos bankas
- 15:20
-
Empirical evidence on the effects of capital buffer release
Presenter: Vasja Sivec, the National Statistical Office of Luxembourg (STATEC/ANEC)
Co-authors: Yi-An Chen (Bank of Slovenia)
Matjaž Volk (Bank of Slovenia)Discussant: Andrea Tiseno, Banca d’Italia
- 15:55
- Coffee Break
- 16:15
-
Policy Panel “Exit from the low interest rate environment and related challenges for macroprudential policy”
Chair: Tomas Garbaravičius, Board member of Lietuvos bankas and MPPG co-Chair
- Anikó Szombati, Magyar Nemzeti Bank
- Gabriel Galati, De Nederlandsche Bank
- Leonardo Gambacorta, Bank for International Settlements
- Benjamin Weigert, Deutsche Bundesbank
- 17:15
-
Closing remarks by John Fell, Deputy Director General in the European Central Bank and MPPG co-chair
This programme may be subject to change without notice.
General information
Magyar Nemzeti Bank
Main building, Antall József Conference Centre
1054 Budapest
Szabadság tér 9
English
Participants are requested to arrange their own transfers, unless indicated otherwise.
- Susanne Korbmacher, Deutsche Bundesbank
- Aniko Szombati, Magyar Nemzeti Bank
- Katarzyna Budnik, European Central Bank
- Aurea Marques, European Central Bank
- Caterina Mendicino, European Central Bank
FSC Secretariat
European Central Bank - Directorate General Macroprudential Policy and Financial Stability
fsc.secretariat@ecb.int
Anita Buzás-Németh
Magyar Nemzeti Bank - International Relations Directorate
buzas-nemetha@mnb.hu
Conference email: workshopmacropru@ecb.int