Quantitative Easing and Financial (In)Stability

Closing Conference "Quantitative Easing and Financial (In)Stability" - Agenda and Presentations

9.00 – 9.15Opening Remarks 

 

Session 1: QE Impact on Financial Markets in Industrialized Countries

9.15 – 12.30

The Corporate Debt Supply Effects of the Eurosystem’s Collateral Framework
Max Riedel, SAFE and Goethe University Frankfurt (joint with Loriana Pelizzon, Zorka Simon and Marti G. Subrahmanyam)

Discussion
Alexander Eisl, Vienna University of Economics and Business

Central Bank – Driven Mispricing
Davide Tomio, Darden School of Business (joint with Loriana Pelizzon, Marti G. Subrahmanyam and Jun Uno)

Discussion
Guillaume Nolin, Bank of Canada

10.45 – 11.00Coffee Break

Scarcity and Spotlight Effects on the Term Structure: Quantitative Easing in Japan
Jun Uno, Waseda University (joint with Loriana Pelizzon, Marti G. Subrahmanyam and Reiko Tobe)

Discussion
Stefano Corradin, European Central Bank

An Arbitrage-free Yield Net Model with Application to the Euro Debt Crisis
Linlin Niu, Xiamen University (joint with Zhiwu Hong)

Discussion
Giuliano Curatola, SAFE and Goethe University Frankfurt

12.30 – 13.30Lunch break

 

Session 2: QE Impact on Financial Markets in Emerging Countries

13:30 – 15:00

Does Monetary Policy Impact International Market Co-Movements?
Loriana Pelizzon, SAFE and Goethe University Frankfurt (joint with Massimiliano Caporin and Alberto Plazzi)

Discussion
Pasquale della Corte, Imperial College London

Signaling and Portfolio Balance Effects of QE Announcements on China's Yield Curve
Linlin Niu, Xiamen University (joint with Mucai Lin)

Discussion
Jingyuan Mo, NYU Stern

15.00 – 15.15Coffee Break

 

Session 3: QE Impact on Financial Institutions in Industrialized Countries

15.15 – 16.45

Lender of Last Resort, Buyer of Last Resort, and a Fear of Fire Sales in the Sovereign Bond Market
Sascha Steffen, Frankfurt School of Finance & Management (joint with Viral V. Acharya and Diane Pierret)

Discussion
Claire Labonne, Federal Reserve Bank of Boston 

"And nevertheless it moves…" Spill-overs of unconventional monetary policies and their internalization within the transnational discourse on central banking
Matthias Thiemann, Sciences Po (joint with Max Nagel) 

General Discussion

16.45 – 17.00Coffee Break 

 

Session 4: QE Impact on Financial Institutions in Emerging Countries

17.00 – 18.30

Euro Area Quantitative Easing in a Portfolio Balance Model with Heterogeneous Agents and Assets
Tina Koziol, University of Cape Town (joint with Jesper Riedler and Joeri Schasfoort)

Discussion
Michele Berardi, University of Manchester

The Cape of Good Homes: Exchange Rate Depreciations, Foreign Demand and House Prices
Allan Davids, University of Cape Town (joint with Co-Pierre Georg)

Discussion
Jan Pieter Krahnen, SAFE and Goethe University Frankfurt

 18:30 Closing Remarks

 

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Project Team

Junior Researchers
Xu Liu
Max Nagel
Marius Birk
Jun Li
Junior Researchers
Davide Tomio
Senior Researchers
Linlin Niu
Junior Researchers
Zhen Huang
Mucai Lin
Zhiwu Hong
Senior Researchers
Co-Pierre Georg
Junior Researchers
Tina Koziol
Allan Davids
Jesslyn Jonathan
Senior Researchers
Jun Uno
Junior Researchers
Reiko Tobe