6th Annual Conference 2018 – Coping with spillovers from policy normalization in advanced economies

DAY 1 September 27, 2018

POSTER SESSION

• A pseudo-panel approach in measuring the marginal propensity to consume out of income and housing wealth for Albanian households.
  • Elona Dushku, Ola Çami; Bank of Albania
• Are capital controls effective at reestablishing monetary policy independence? Evidence from Colombia.
  • Daniel Dias, Yi Huang, Hélène Rey, Miguel Sarmiento; Central Bank of Colombia.
• Foreign Direct Investment in Western Balkans: What is the Right Approach to The Puzzling Panel?
  • Bojan Baškot; Central Bank of Bosnia and Herzegovina.
• Is foreign lending by local financial institutions affected by monetary policy changes in source countries?
  • Paola Morales-Acevedo; Central Bank of Colombia.
• Measuring sensitivity of exports to Global Value Chains and to exchange rate in emerging and developing economies.
  • Dorsaf El Bir; Central Bank of Tunisia.
• Spillovers from USA monetary policy shocks.
  • Marcia Murillo, Marco Vega; Central Reserve Bank of Peru.
• The effects of external shocks on Azerbaijan economy.
  • Nijat Guliyev; Central Bank of the Republic of Azerbaijan.

WORKSHOP PANEL 1: Drivers of bank profitability

• Determinants of bank profitability in emerging markets.
  • Emanuel Kohlscheen, Andrés Murcia, Julieta Contreras; Central Bank of Colombia.
• The influence of monetary policy on net interest margins: evidence from Albania.
  • Meri Papavangjeli, Adela Bode, Besa Vorpsi; Bank of Albania.
• Comments by: Cédric Tille, the Graduate Institute

WORKSHOP PANEL 2: Transmission channel

• Assessing the effect of US monetary policy normalization on Latin American economies.
  • Fernando Pérez; Central Reserve Bank of Peru.
• Has the crisis changed the monetary transmission mechanism in Albania? An application of kernel density estimation technique.
  • Altin Tanku, Kliti Ceca; Bank of Albania
• Comments by: Matthieu Bussière, Bank of France

WORKSHOP PANEL 3: Macroprudential tools

• Impulse responses to the “Normalization of Monetary Policy” on Mediterranean region: DSGE and FAVAR analysis.
  • Hager Ben Romdhane; Central Bank of Tunisia
• Reserve requirements as a financial stability instrument.
  • Carlos Cantu, Rocio Gondo, Berenice Martinez; Central Reserve Bank of Peru.
• Comments by: Eric Jondeau, University of Lausanne

EVENING PRESENTATION Gian Maria Milesi-Ferretti, IMF

Day 2 September 28, 2018

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KEYNOTE PRESENTATION Marcel Fratzscher, German Institute for Economic Research (DIW) POLICY PANEL 1: How do rising rates in advanced economies impact emerging countries?

• Chair: Ugo Panizza, the Graduate Institute
• Gianluca Benigno, London School of Economics & Political Sciences
• Jorge Toro, Central Bank of Colombia
• Livio Stracca, European Central Bank
• Renzo Rossini, Central Reserve Bank of Peru

POLICY PANEL 2: What tools can emerging economies use in an environment of rising rates?

• Chair: Cédric Tille, BCC & the Graduate Institute
• Gian Maria Milesi-Ferretti, International Monetary Fund (IMF)
• Khagani Karimov, Central Bank of the Republic of Azerbaijan
• Matthieu Bussière, Bank of France
• Rym Kolsi, Central Bank of Tunisia

POLICY PANEL 3: How should monetary, fiscal and financial policies be coordinated?

• Chair: Alexandre Swoboda, the Graduate Institute
• Belma Čolaković, Central Bank of Bosnia and Herzegovina
• Dubravko Mihaljek, Bank for International Settlements (BIS)
• Hynek Hrebicek, Economist OGResearch
• Thomas Moser, Swiss National Bank