Learning from the Crisis: Financial Stability, Macroeconomic Policy and International Institutions

Time: 12-13 November 2009
Venue: Einaudi Institute for Economics and Finance, Rome, Italy

The European Central Bank (ECB), the Center for Financial Studies (CFS), the Bank of Italy and the Einaudi Institute for Economics and Finance (EIEF) are inviting submission of papers to the conference.

Objectives:

• To present state-of-the-art research on the roots and evolution of the current crisis, as well as the issues that it has raised for the reform of the international monetary and financial system
• To provide a forum for debate among market participants, policy makers and researchers

Topics: (The submission of research papers in the following fields is especially encouraged)

1. Causes and evolution of the financial crisis

• Role of monetary policy and financial regulation
• Role of large emerging market economies in global imbalances
• Role of financial innovation, rating agencies, mispricing of risk, managerial incentives, etc.
• Real effects of the crisis and financial feedbacks

2. Contribution of macroeconomic policies to stability

• Relative effectiveness of various macroeconomic policies in restoring economic and financial stability
• Budgetary implications of public bailouts and support to distressed institutions and their long-term consequences
• Coordination among the major industrial and emerging countries in and after the crisis

3. Reform of regulation and supervision

• Design of regulatory and supervisory regimes: Is a new paradigm needed?
• International accounting standards, market transparency and pro-cyclicality of capital ratios
• Financial innovation, risk management and the role of rating agencies
• Redressing managerial incentives in financial institutions

4. Reform of the international financial institutions

• Re-defining the roles of the IMF, the BIS, the World Bank and related institutions
• Coordination of policy responses and international financial integration
• Supra-national bank supervision and systemic stability

• Papers should be sent electronically (MS Word or pdf versions only)
• Deadline: 7 September 2009
• E- mail: wiedemann@ecb.int

For more info http://www.ecb.int/...