2020 Bank of Canada Annual Economic Conference: The Future of Money and Payments: Implications for Central Banking
Opening Remarks
Tiff Macklem (Bank of Canada)
Session 1: The Future of Money
Chair: James Chapman (Bank of Canada)
Platforms and Tokens
Markus Brunnermeier (Princeton University) and Jonathan Payne (Princeton University)
Discussant: Hanna Halaburda (New York University)
The Limits of Monetary Economics: On Money as a Latent Medium of Exchange
Ricardo Lagos (New York University) and Shengxing Zhang (London School of Economics)
Discussant: Nobuhiro Kiyotaki (Princeton University)
Panel Discussion
Public versus Private Interests in Money and Payments
Moderator: Timothy Lane (Bank of Canada)
Benoît Cœuré (Bank for International Settlements)
Ginger Jin (University of Maryland)
Long Chen (Luohan Academy)
Opening Remarks
Paul Beaudry (Bank of Canada)
John Kuszczak Memorial Lecture
Chair: Lawrence Schembri (Bank of Canada)
Digital Currencies and the Common Good: Models and Coopetition
Jean Tirole (2014 Nobel Laureate for Economic Sciences, Toulouse School of Economics)
Session 2: Retail Payments
Chair: Maureen Carroll (Bank of Canada)
Consumer Awareness and Equilibrium in Two-Sided Markets for Payment Methods
Kim P. Huynh (Bank of Canada), Gradon Nicholls (Bank of Canada), and Alex Shcherbakov (Bank of Canada)
Discussant: Özlem Bedre-Defolie (ESMT Berlin)
Towards a Cashless Economy? Evidence from the Elasticity of Cash Deposits in Mexico
Pierre Bachas (World Bank), Anders Jensen (Harvard University) and Sean Higgins (Northwestern University)
Discussant: Janet Jiang (Bank of Canada)
Session 3: Payments and Banking System
Chair: Carol Brigham (Bank of Canada)
Cyber Risk and the U.S. Financial System: A Pre-Mortem Analysis
Thomas Eisenbach (Federal Reserve Bank of New York), Anna Kovner (Federal Reserve Bank of New York) and Michael Junho Lee (Federal Reserve Bank of New York)
Discussant: James Chapman (Bank of Canada)
Money and Banking in a New Keynesian Model
Monika Piazzesi (Stanford University), Ciaran Rogers (Stanford University) and Martin Schneider (Stanford University)
Discussant: Shengxing Zhang (London School of Economics)
Opening Remarks
Toni Gravelle (Bank of Canada)
Session 4: Digital Currencies
Chair: Cesaire Meh (Bank of Canada)
Cryptocurrencies, Currency Competition, and the Impossible Trinity
Pierpaolo Benigno (University of Bern), Linda Schilling (École Polytechnique) and Harald Uhlig (University of Chicago)
Discussant: Dirk Niepelt (Study Center Gerzensee, University of Bern)
An Early Stablecoin? The Bank of Amsterdam and the Governance of Money
Jon Frost (Bank for International Settlements), Hyun Song Shin (Bank for International Settlements) and Peter Wierts (De Nederlandsche Bank)
Discussant: William Roberds (Federal Reserve Bank of Atlanta)
Session 5: Fintech, Data and Payments
Chair: Scott Hendry (Bank of Canada)
Payments and the D(ata) N(etwork) A(ctivities) of BigTech Platforms
Jonathan Chiu (Bank of Canada) and Thorsten Koeppl (Queen’s University)
Discussant: Linda Schilling (École Polytechnique)
When FinTech Competes for Payments
Christine Parlour (University of California at Berkeley), Uday Rajan (University of Michigan) and Haoxiang Zhu (MIT Sloan School of Management)
Discussant: Shota Ichihashi (Bank of Canada)
Closing Remarks
Timothy Lane (Bank of Canada)