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European System of Central Banks' Day-Ahead Conference

European System of Central Banks' Day-Ahead Conference
21 Aug. 2019
08:30 - 17:15
Banco de Portugal
Rua do Comércio, 148

Attendance is by invitation only.





Opening remarks
Ana Paula Serra
| Member of the Board of Directors of Banco de Portugal

Session 1: Stress-testing the Banking System

Chair: Kasper Roszbach
, Norges Bank


Stressed Banks

- Diane Pierret,
HEC - University of Lausanne
- Roberto Steri, HEC - University of Lausanne

Discussant: João Granja, Chicago Booth


Unintended Side Effects: Stress Tests, Entrepreneurship, and Innovation

- Sebastian Doerr,
University of Zurich

Discussant: Ralf Meisenzahl, Federal Reserve Bank of Chicago


Coffee break

Session 2: Bank Capital and Crises

Chair: Toni Ahnert
, Bank of Canada


Financial Intermediation, Capital Accumulation and Crisis Recovery

- Hans Gersbach, CER-ETH – Center of Economic Research at ETH Zurich and CEPR
- Jean-Charles Rochet, Swiss Finance Institute at University of Geneva and University of Zurich
- Martin Scheffel, Karlsruher Institute of Technology (KIT)

Discussant: David Martinez Miera, Universidad Carlos III


Bank Capital Forbearance

- Natalya Martynova,
Deutsche Bundesbank
- Enrico Perotti, University of Amsterdam and CEPR
- Javier Suarez, CEMFI and CEPR

Discussant: Wolf Wagner, Rotterdam School of Management and CEPR



Session 3: Savings and Real-estate Wealth

Chair: Leonardo Gambacorta


Keynote Speech:
No Alternatives: Pension Investments around the World, 2008 to 2017

- Victoria Ivashina,
Harvard Business School


Real Effects of Relaxing Financial Constraints for Homeowners: Evidence from Danish Firms

- Alessia De Stefani,
Danmarks Nationalbank
- Julia Moertel, University of Edinburgh

Discussant: Andreas Fuster, Swiss National Bank


Coffee break

Session 4: Bank Funding and Lending

Chair: Teodora Paligorova
, Federal Reserve Board


Bank capital and liquidity transformation

- Jonathan Acosta-Smith, Bank of England
- Guillaume Arnould, Bank of England
- Kristoffer Milonas, Moody's Analytics
- Quynh-Anh Vo, Bank of England

Discussant: Lev Ratnovski, European Central Bank


Funding uncertainty and bank lending

- Martina Jasova,
Barnard College, Columbia University
- Caterina Mendicino, European Central Bank
- Dominik Supera, Wharton School, University of Pennsylvania

Discussant: Cláudia Custódio, Imperial College London, CEPR and ECGI


End of conference


Scientific committee:

Margherita Bottero, Banca d’Italia

Christa Bouwman, Texas A&M University

Geraldo Cerqueiro, Católica Lisbon

Ralph de Haas, European Bank for Reconstruction and Development

Miguel Ferreira, Nova SBE

Emilia Garcia-Appendini, University of Zurich

Marie Hoerova, European Central Bank

Vasso Ioannidou, Lancaster University

Angela Maddaloni, European Central Bank

Farzad Saidi, Stockholm School of Economics

João Santos, Federal Reserve Bank of New York

Neeltje van Horen, Bank of England

Victoria Vanasco, CREi

Xin Zhang, Sveriges Riksbank


Organizing committee:

Diana Bonfim, Banco de Portugal (Program Chair)

Wilko Bolt, De Nederlandsche Bank

Ettore Panetti, Banco de Portugal

Kasper Roszbach, Norges Bank