4th Bank of Canada FSRC Macro-Finance Conference

Opening Remarks

Jing Yang (Bank of Canada)

Session 1

Chair: Josef Schroth (Bank of Canada)

Taxing bank leverage

Claire Celerier (University of Toronto, Rotman)

Discussant: Todd Keister (Rutgers)

Keynote: Monetary Policy when Banks Have Market Power: A Critical Review of the Reversal Rate and the Deposits Channel

Rafael Repullo (CEMFI)

Session 2

Chair: Jason Allen (Bank of Canada)

Market Concentration and Uniform Deposit Pricing: Evidence from Bank Mergers

Nuno Paixao (Bank of Canada)

Discussant: Robert Clark (Queen’s University)

Stable NIM and Interest Rate Exposure of US Banks?

Juliane Begenau (Stanford GSB)

Discussant: Teodora Paligorova (Fed Board)

Opening Remarks

Tiff Macklem (Bank of Canada)

Session 3

Chair: Toni Ahnert (Bank of Canada)

Falling Interest Rates and Misallocation: Lessons from General Equilibrium

Vladimir Asriyan (CREI)

Discussant: Alp Simsek (MIT/Chicago Booth)

Keynote: Asset Price Booms and Macroeconomic Policy: A Risk-Shifting Approach

Franklin Allen (Imperial)

Session 4

Chair: Césaire Meh (Bank of Canada)

Benefits of Macro-Prudential Policy in Low Interest Rate Environments

Alejandro van der Ghote (ECB)

Discussant: Josef Schroth (Bank of Canada)

Inflation and Disintermediation

Isha Agarwal (UBC, Sauder)

Discussant: Yannick Timmer (IMF)

Closing Remarks

Césaire Meh (Bank of Canada)