Workshop on Preventive Macro Prudential Instruments



3 Sept 2010
Introduction by Lex Hoogduin, Executive Director of De Nederlandsche Bank (DNB)

First Session: Macro-prudential instruments: how do they work?

Chair: Jakob de Haan (DNB)

Tobias Adrian (New York Federal Reserve):
'Liquidity Regulation: Prices or Quantities?'

Enrico Perotti (University of Amsterdam):
'Preventive policy means targeting incentives over cycle'

Viral Acharya (NYU Stern):
'The Repurchase Agreement (Repo) Market and Systemic Risk'

Second Session: Active use of macro-prudential instruments

Chair: Enrico Perotti (University of Amsterdam)

Michael Gibson (Federal Reserve Board):
'What data should be collected to calibrate macro-prudential instruments?'

George Pennacchi (University of Illinois):
'Contingent Capital Design and Bank Risk Incentives'

Claudio Borio (BIS):
'To what extent should macro-prudential instruments be discretionary?'

Third Session: Governance of macro-prudential policy

Chair: Javier Suarez (CEMFI)

Francesco Mazzaferro (ECB):
'Governance issues of macro-prudential policy'

Enrico Perotti (University of Amsterdam):
'A governance model for the ESRB'