6th International Conference on Sovereign Bond Markets: Quantitative Easing and Financial (In)Stability

When:01 April 2019
  - 03 April 2019
Where:Campus Westend, Goethe University Frankfurt

Download Call for Papers (pdf)

The conference is organized by the Research Center SAFE at Goethe University Frankfurt. Co-organizers include the NYU - Salomon Center, University of Michigan - Mitsui Life Financial Research Center, the Asian Bureau of Finance and Economic Research (ABFER), Waseda University, the National University of Singapore, Business School - Centre for Asset Management Research and Investments, the Bank of Canada, the Deutsche Bundesbank and the European Central Bank

In the aftermath of the 2008 financial crisis, many central banks have engaged in quantitative easing (QE) by buying massive amounts of bonds and other securities from market participants in order to provide liquidity to the markets, reduce the cost of capital, and ultimately foster economic growth.  

Although such monetary policy measures seem to have had the desired effects in the domestic economy, there are still many open questions about the global impact of QE (and its subsequent unwinding) on the stability of financial markets and financial institutions, not only in industrialized countries but also in emerging markets. 

We solicit theoretical and empirical papers on the interactions between financial intermediation and sovereign debt markets. Topics of interest include (but are not limited to):

  • Unconventional monetary policies and normalization of the monetary policy and 

    • the pricing of financial assets
    • the risk taking by banks
    • the spillover effects to other developed and emerging markets
    • the financial market liquidity.

  • Basel III capital and liquidity ratio and their impact on the sovereign bond markets

    • Monetary policy and financial stability in a post-crisis world
    • Derivatives regulation (Dodd-Frank and EMIR) and fixed income derivative markets
    • Transparency regulation (MIFID II) and the market microstructure of sovereign bond markets
    • Primary markets for sovereign debt.

        Papers in related areas may also be considered. The final program will include both submitted and invited papers. The conference will also feature a session by debt managers on current sovereign issuance practices in major economies, and a panel discussion on researchers' and practitioners' views on the major outstanding issues in sovereign bond markets. 

         

        CONFERENCE DEADLINES: 

        Those wishing to present a paper at the conference should submit by December 1, 2018 per email

        Decisions regarding acceptance will be made by February 1, 2019. The final version of accepted papers must be received by March 1, 2019

        A limited travel budget is available for presenters and discussants to help defray travel and lodging expenses.  

        Please visit the conference website for further information about the current and past conferences. 

         

        The Scientific Committee: 

        Loriana Pelizzon, Research Center SAFE at Goethe University Frankfurt 

        Marti G. Subrahmanyam, NYU Stern 

        Paolo Pasquariello, Ross School of Business, University of Michigan 

        Jun Uno, Waseda University 

        Toshinao Yoshiba, Bank of Japan 

        Antonio Diez de los Rios, Bank of Canada 

        Emanuel Moench, Deutsche Bundesbank 

        Simone Manganelli, European Central Bank 

        Michael Fleming, Federal Reserve Bank of New York