12-13 June 2014 - International Banking: Microfoundations and Macroeconomic Implications


Thursday, June 12, 2014

8:45- 9:30  Registration

9:30-9:45 Welcoming Remarks - Klaas Knot (President of the Executive Board of De Nederlandsche Bank)

Session 1: International Shock Transmission Through Banking System

Chair: Galina Hale

Global Banks' Dynamics and the International Transmission of Shocks
Jose Fillat (Federal Reserve Bank of Boston) Stefania Garetto (Boston University) and Martin Gotz (Goethe Universität)
Discussant: Mathias Hoffmann (University of Zurich)

Shocks Abroad, Pain at Home? Bank-Firm Level Evidence on the International Transmission of Financial Shocks  
Steven Ongena (University of Zürich), Jose Luis Peydro (Universitat Pompeu Fabra) and Neeltje van Horen (De Nederlandsche Bank)
Discussant: Esteban Prieto (Deutsche Bundesbank)

11:30-13.00 KEYNOTE ADDRESS  
Charles Calomiris (Columbia Business School and IMF) 
Martin Hellwig (Max Planck Institute for Research on Collective Goods)

Introduction by Jakob de Haan

Session 2: Banking FDI   

Chair: Katheryn Russ

Foreign Competition and Banking Industry Dynamics: An Application to Mexico
Dean Corbae (Wisconsin School of Business) and Pablo D’Erasmo (Federal Reserve Bank of Philadelphia)
Discussant: Ata Can Bertay (European Banking Center)

Cost Leadership at Home and Abroad in International Banking
Rients Galema (Utrecht School of Economics), Michael Koetter (Frankfurt School of Finance & Management), and Caroline Liesegang (European Banking Authority)
Discussant: Hans Degryse (KU Leuven)

Session 3: Policy Perspectives on Financial Fragility   

Chair: Luc Laeven

Cheap but Flighty: How Global Imbalances Create Financial Fragility
Toni Ahnert (Bank of Canada) and Enrico Perotti (University of Amsterdam)
Discussant: Fabio Castiglionesi (European Banking Center)

An Evaluation of Money Market Fund Reform Proposals
Samuel G. Hanson (Harvard Business School), David S. Scharfstein (Harvard Business School), and Adi Sunderam (Harvard Business School)
Discussant: Patrick McCabe (Federal Reserve Board)      

Friday, June 13, 2014

8:30-9:00 Registration

Session 4: Inter- and Intra-Bank Flows 

Chair: Jakob de Haan

What Determines the Composition of International Bank Flows?
Cornelia Kerl (Deutsche Bundesbank) and Friederike Niepmann (Federal Reserve Bank of New York)
Discussant: Vania Stavrakeva (London Business School)

The Two Faces of Cross-Border Banking Flows
Dennis Reinhardt (Bank of England) and Steven J. Riddiough (Warwick Business School, University of Warwick)
Discussant: Iman van Lelyveld (Bank for International Settlements)

Session 5: Determination of Cross-Border Flows 

Chair: Pierre-Olivier Gourinchas

Uncertainty and International Banking
Claudia Buch (Deutsche Bundesbank), Manuel Buchholz (Halle Institute for Economic Research), and Lena Tonzer (European University Institute)
Discussant: Manu de Veirman (De Nederlandsche Bank)

Financial Integration and Financial Instability
Dmitriy Sergeyev (Bocconi University)
Discussant: Ashoka Mody (Princeton University)

Session 6: Policy Perspectives on Bank Structure and International Bank Flows   

Chair: Neeltje van Horen (To be confirmed)

International Evidence on Bank Funding Profiles and Performance: Are Banks “Overbanked”?
Jose A. Lopez (Federal Reserve Bank of San Francisco) and Mark M. Spiegel (Federal Reserve Bank of San Francisco)
Discussant: Carolina Villegas Sanchez (ESADE Business School)

Global Liquidity and Drivers of Cross-border Bank Flows
Stijn Claessens (IMF), Eugenio Cerutti (IMF), and Lev Ratnovski (IMF)
Discussant: Anastasia Kartasheva (Bank for International Settlements)