3rd International Conference on Sovereign Bond Markets
Download the program (pdf)
The conference this year focuses on Real and Financial Externalities of Non-Traditional Monetary Policy Tools, and is sponsored by the NYU-Salomon Center. Co-sponsors include the University of Michigan-Mitsui Life Financial Research Center, Research Center SAFE at Goethe University Frankfurt, the Asian Bureau of Finance and Economic Research (ABFER), and Waseda University.
In the wake of the recent financial crisis, monetary authorities around the globe have pursued various nonconventional measures of monetary policy (e.g., large purchases of sovereign bonds and other assets). The most prominent examples include Quantitative Easing (QE) in the United States, United Kingdom, and European Union, as well as Quantitative and Qualitative Easing (QQE) in Japan. Yet, both the experience of policymakers with, and the understanding of academics and practitioners of the benefits and costs of these policies remain limited. For instance, Ben Bernanke famously observed that not only “the problem with QE [is that] it works in practice, but it does not work in theory” but also that "one possible cost of conducting additional [QE] is that these operations could impair the functioning of securities markets."
The Scientific Committee for this Conference includes:
Robert F. Engle, NYU Stern
Marti G. Subrahmanyam, NYU Stern
Paolo Pasquariello, Ross School of Business, University of Michigan
Jun Uno, Waseda University
Loriana Pelizzon, Research Center SAFE at Goethe University Frankfurt
Toshinao Yoshiba, Bank of Japan
Simone Manganelli, European Central Bank
Michael Fleming, Federal Reserve Bank of New York
Please visit the conference website for further information about the current and past conferences.