Stiftungskonferenz 2011

The ESRB at 1

8.-9. November 2011
Hotel Pullman Berlin Schweizerhof,
Budapesterstrasse 25, Berlin

Die Stiftungskonferenz 2011 wurde gemeinsam von der Deutschen Bundesbank, der Société Universitaire Européenne de Recherches Financières (SUERF) und dem IMFS veranstaltet.

November 8, 2011

12:00 - 13:00	Registration and Lunch
13:00 - 13:15	Opening and Welcome Hermann Remsperger, Chairman, Stiftung Geld und Währung Catherine Lubochinsky, SUERF President, University Paris, Helmut Siekmann, Institute for Monetary and Financial Stability
13:15 - 14:00	Keynote Session Chair: Stefan Gerlach, Deputy Governor, Central Bank of Ireland “Systemic Aspects of Risk Measurement and Risk Management: Lessons from the Financial Crisis” Martin Hellwig, Max-Planck-Institute and ESRB
14:00 - 14:20	Coffee Break
14:20 - 15:50	Policy Panel Moderator: Mark Schieritz, Die Zeit "Macroprudential Policies" Philipp M. Hildebrand, President, Schweizerische Nationalbank "Measurement of Systemic Risk" Stephen G. Cecchetti, Bank for International Settlements "Experiences with the ESRB - the view from within and in relation to other policy areas/institutions" Stefan Ingves, Governor, Sveriges Riksbank "Financial Markets" Alberto Giovannini, UniFortune Asset Management SGR SpA
15:50 - 16:15	Coffee Break
16:15 - 16:45	Keynote Session Chair: Stefan Gerlach, Deputy Governor, Central Bank of Ireland Jens Weidmann, President, Deutsche Bundesbank
16:45 - 18:15	Session 1: Theoretical and empirical macro-financial models linking financial stability and the performance of the economy Chair: Jens Ulbrich, Deutsche Bundesbank and SUERF "Financial Regulation in General Equilibrium" Dimitrios Tsomocos, Oxford University and Alexandros Vardoulakis, Banque de France "Macro-financial models linking financial stability and the performance of the economy" Philipp Hartmann, European Central Bank and SUERF "Financial intermediation and the real economy: implications for monetary and financial stability policies" Stefano Neri, Banca d'Italia
18:15	End of first day's proceedings
19:30	Dinner Dinner Speech: "Macroprudential policies and financial integration" (Speech) Jürgen Stark, European Central Bank

November 9, 2011

09:30 - 11:00	Session 2: Empirical models on the causes, transmission and the real impact of financial crises Chair: Ernest Gnan, Oesterreichische Nationalbank and SUER "Private Sector Debt Reduction and Growth" Előd Takáts and Christian Upper, Bank for International Settlements "Macroeconomic factors and bank-level risk" Claudia Buch, University of Tübingen Sandra Eickmeier, Deutsche Bundesbank Esteban Prieto, University of Tübingen "Creditless Recoveries" Abdul Abiad, Giovanni dell’Ariccia and Bin Li, International Monetary Fund
11:00 - 11:30	Coffee Break
11:30 - 13:00	Session 3: Measuring Systemic Risk Chair: Thilo Liebig, Deutsche Bundesbank "Measuring aggregate risk: can we robustly identify asset boom-bust cycles? Implications for macroprudential policies" Vladimir Borgy, Laurent Clerc and Jean-Paul Renne, Banque de France "Attributing Systemic Risk to Individual Institutions" Ester Faia, Goethe University Frankfurt "Dealing with Systemic Risk When We Measure Systemic Risk Badly" Jon Danielsson, Kevin R. James, Marcela Valenzuela and Ilknur Zer, London School of Economics
13:00 - 14:15	Lunch
14:15 - 15:45	Session 4: Macroprudential instruments to contain systemic risk Chair: Jürgen Pfister, BayernLB and SUERF "Applied Approaches" Jorge A Chan-Lau, International Monetary Fund "Macroprudential Instruments for containing Systemic Risk: the ESRB View" Francesco Mazzaferro, ESRB Secretariat "Development of macroprudential policy in the UK" Simon Hall, Bank of England
15:45 - 16:15	Concluding Remarks Volker Wieland, Institute for Monetary and Financial Stability
16:15	End of event