4th Bank of Canada-Bank of Spain Workshop on International Financial Markets
Opening Remarks
Sylvain Leduc, Bank of Canada
Session 1: Banking
Morning Session Chair: Antonio Diez de los Rios, Bank of Canada
Bank Use of Sovereign CDS in the Eurozone Crisis: Hedging and Risk Incentives
Viral Acharya, Reserve Bank of India
Yalin Gündüz, Deutsche Bundesbank
Timothy Johnson, University of Illinois, Urbana-Champaign
Discussant: Teodora Paligorova, Federal Reserve Board
Sharing the Pain? Credit Supply and Real Effects of Bank Bail-ins
Thorsten Beck, Cass Business School
Samuel Da-Rocha-Lopes, Nova School of Business & Economics
Andre Silva, Cass Business School
Discussant: Lev Ratnovski, International Monetary Fund
Session 2: Effects of Financial Market Regulation
Banking Regulation and Market Making
David Cimon, Bank of Canada
Corey Garriott, Bank of Canada
Discussant: Liyan Yang, University of Toronto
The Real Effects of Short Selling Restrictions around the World
Christoph Schiller, Rotman School of Management
Discussant: Ryan Riordan, Queen’s University
Session 3: Limits to Arbitrage in Foreign Exchange Markets
Afternoon Session Chair: Jose Manuel Marques, Banco de España
The Japan Repo Premium and US Dollar Intermediation
Iñaki Aldasoro, Bank for International Settlements
Torsten Ehlers, Bank for International Settlements
Egemen Eren, Bank for International Settlements
Discussant: Alyssa Anderson, Federal Reserve Board
Limits to Arbitrage in the Foreign Exchange Market: Evidence from FX Trade Repository Data
Gino Cenedese, Bank of England
Pasquale Della Corte, Imperial College
Tianyu Wang, Imperial College
Discussant: Jose Manuel Marques, Banco de España
Session 4: Global Financial Cycles
Taper Tantrums: QE, its Aftermath and Emerging Market Capital Flows
Anusha Chari, University of North Carolina-Chapel Hill & NBER
Karlye Dilts Stedman, University of North Carolina-Chapel Hill
Christian Lundblad, University of North Carolina-Chapel Hill
Discussant: Antonio Diez de los Rios, Bank of Canada
Foreign Booms, Domestic Busts: The Global Dimension of Banking Crises
Ambrogio Cesa-Bianchi, Bank of England
Fernando Eguren Martin, Bank of England
Gregory Thwaites, Bank of England
Discussant: Greg Bauer, University of Rochester
Session 5: Central Banking: International Considerations
Morning Session Chair: Jonathan Witmer, Bank of Canada
Which Central-Bank Projections Influence Private-Sector Forecasts?
Monica Jain, Bank of Canada
Andrew Levin, University of Dartmouth
Christopher Sutherland, Bank of Canada
Discussant: Paul Hubert, Sciences Po
The currency dimension of the bank lending channel in international monetary transmission
Elod Takats, Bank for International Settlements
Judit Temesvary, Federal Reserve Board
Discussant: Adrian Van Rixtel, Banco de España
Making room for the needy: The effects of the Corporate Sector Purchase Programme on firms credit
Oscar Arce, Banco de España
Ricardo Gimeno, Banco de España
Sergio Mayordomo, Banco de España
Discussant: Massimiliano Affinito, Banca d’Italia
Session 6: International Asset Pricing
The Pricing of Tail Risk and the Equity Premium: Evidence from International Option Markets
Torben Andersen, Northwestern University
Nicola Fusari, Johns Hopkins University
Viktor Todorov, Northwestern University
Discussant: Bruno Feunou, Bank of Canada
Oil Volatility Risk and Expected Stock Returns
Peter Christoffersen, University of Toronto, CBS and CREATES
Xuhui (Nick) Pan, Freeman School of Business, Tulane University
Discussant: Alexander David, University of Calgary