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Events

CEMAP Workshop on Macroprudential Policy and Financial Stability

Friday, 23 August 2019
14:00 to 15:30
Kevin Lansing Fed St Louis, USA, Sara Eugeni Durham University Business School, Jong Shin Newcastle University and Parantap Basu Durham university Business School
Durham University Business School MHL 223

Asset Pricing Workshop

Abstract

After 2008 financial crisis, macroprudential policy and financial stability issues became one of the most important research topics among academic and policymaker alike. As any other policy, macroprudential regulations have their costs and benefits. On the one hand, they aim to improve financial stability and reduce the probability and the costs of future financial crises. On the other hand, they may reduce the supply of credit and lead to fall in investment and economic contraction. Some macroprudential policies pursue financial stability (i.e. ring fencing, capital requirement) while the others stimulate credit expansion (i.e. QE and funding for lending scheme). It is vital to find the right balance in this crucial trade-off. The purpose of the workshop is to bring together academic and central bank scholars to discuss the contemporary problems of macroprudential policies.

Full programme listing here:

13.00 - 13.50 Kevin Lansing, Federal Reserve Bank of San Francisco “Examining the Sources of Excess Return Predictability: Stochastic Volatility or Market Inefficiency”

13.50 - 14.40 Sara Eugeni, Durham University Business School
"Exchange rate volatility and cooperation in an incomplete markets’ economy"

15.00 - 15.50 Jong Shin, Newcastle University
"Deep habit, firm-level markups and stock returns”


15.50 - 16.40 Parantap Basu, Durham University Business School "Adjustment costs, Asset Market Premia and the Macroeconomy”