Virtual seminars
Cutting-edge analytics and toolkits
Applied Bayesian econometrics
15–17 March 2022
Event Directors:
Andrew Blake and Gabor Pinter
This event is an introduction to some of the techniques in Bayesian econometrics which can be useful for modelling and forecasting in central banks. It will provide an overview of the theory and then focus on practical implementation through computer/MATLAB based exercises. Topics include Gibbs sampling, Metropolis Hastings and Bayesian estimation of VAR and DSGE models.
Target group:
This seminar is aimed at economists working in the monetary policy, financial stability and research departments of central banks and regulatory authorities. They should have experience of classical econometrics (e.g. OLS, MLE) and knowledge of MATLAB programming is essential for this course.
R for econometrics
17–19 May 2022
Event Director:
Andrew Blake
Open-source software continues to grow both in importance and capability. For statisticians, open-source typically means R. For the central bank econometrician, R is an increasingly attractive platform to use. Almost all standard methods and many advanced ones are available in R as leading practitioners create libraries and packages. It can now feasibly replace dedicated packages as a primary econometric tool, with access to an impressive array of contemporary methods.
This event will show the power of R to do econometric analysis, leveraging the tools of the tidyverse to manipulate and visualise data effectively before using the programming language itself together with powerful R packages to create models for both time series and cross sectional data. This includes building and testing classical regression models, covering topics such as clustering standard errors for cross sectional inference, stationarity testing for time series and applications of quantile regression. Bayesian estimation is approached through both Gibbs Sampling and the Metropolis-Hastings algorithm, with examples using transparent code as well as exploring dedicated packages.
Target group:
Applied economists in any area of a central bank/regulatory authority that use econometric methods to routinely analyse data, and who want to investigate how R can help them in this task from data manipulation, through analysis to report writing in an integrated environment.
Economic modelling and forecasting
19–23 September 2022
Event Directors:
Gabor Pinter and Andrew Blake
Accurate forecasts are only possible with a clear understanding of the structure of the economy and the shocks affecting it. This seminar aims to improve participants’ understanding of current modelling strategies and forecasting techniques. Topics include state space models, Kalman filter, DSGE and VAR models, Heterogeneous Agent New Keynesian (HANK) models panel data techniques – they will be accompanied by ample computer-based exercises.
Target group:
The event is aimed at economists working in quantitatively orientated departments of their central bank. They should have some experience of econometrics and a background in economics. Knowledge of MATLAB and Stata is essential.
Advanced analytical tools for financial supervision and risk management
11–12 October 2022
Event Directors:
David Barr and Angus Foulis
Financial supervision, and risk management more generally, make extensive use of tools derived from mathematics, statistics and probably theory. This event introduces the core toolkit (including, among other topics, Value at Risk, Extreme Value Theory, and copulas) along with cutting-edge techniques based on recent research. Our aim is to allow participants to understand and discuss key concepts and their applications without having to delve into the advanced mathematics required of risk management professionals.
Target group:
This event is aimed at economists, financial analysts and others with a mathematical background who wish to improve their understanding of existing risk management techniques, and who may be involved in analysing and attempting to improve regulatory regimes at a policy level.
Causal inference using microdata
1–4 November 2022
Event Directors:
Angus Foulis and Jagdish Tripathy
Quantification of causal mechanisms is the ultimate goal of empirical economics. However, in most cases this is challenging, as the underlying data are not generated randomly. A number of econometric techniques have been developed to overcome these challenges. The recent explosion of microdata has allowed these techniques to be applied to a wider range of questions. This course builds these frontier skills and applies them to a range of economic questions of interest for central bankers, using the microdata that are increasingly available to our community.
Target group:
The course is targeted at central bank economists working in quantitative areas. They should have experience with econometrics and an economics background. Some experience with Stata and microdata is preferred.
R for non-econometrics
22–25 November 2022
Event Directors:
Andrew Blake, Gabor Pinter and Jagdish Tripathy
As data sets available to economists evolve, so too must the methods that form the toolkit of analysis. Data sets with millions of observations or unstructured text documents need a different approach. At the same time, excellent texts such as James et al.’s ‘An introduction to statistical learning’, McElreath’s ‘Statistical Rethinking’ and Silge and Robinson’s ‘Text Mining with R’ show how to deal with many of the problems that new data sources pose. These offer exciting – and surprisingly tractable – alternatives to traditional econometrics methods.
A number of self-contained topics are likely to be covered, all in R and within a common framework. Topics such as regularised regression, regression trees, multilevel modelling and sentiment modelling are all likely to form part of the course as well as others. Topical, cutting-edge examples from our Advanced Analytics Division will provide a number of example uses of this increasingly important toolkit.
Target group:
Classically trained central bank econometricians who want an introduction to the insights that other, primarily statistical, literatures can bring.
Current priorities and topical issues in central banking and financial regulation
Microprudential framework
8–10 March 2022
Event Director:
Michael Smart
The prudential regulation and supervision of financial services firms continually adapts to the external environment. The post-crisis regulatory regime aims to ensure the safety and soundness of firms, with an increasing focus on financial stability as well as financial and operational resilience. The approach to prudential supervision has shifted to forward-looking, risk-based supervisory decisions and the use of supervisory judgement. This seminar will cover new and developing approaches to supervision and tools used by supervisors to support the assessment, measurement and mitigation of risk.
Target group:
This seminar is aimed at experienced prudential supervisors or central bankers who are interested in or have contributed to the development of forward-looking risk-based supervision. We welcome offers from participants to share their experiences.
The fintech revolution: innovation in payments systems and technology
8–9 June 2022
Event Directors:
Matthew Pegg and David Barr
Innovation in payments offers significant benefits to users. Technological developments and regulatory initiatives have opened up the sector to competition, with new institutions and new business models emerging and changing the shape and length of traditional payment chains. Regulators globally have signalled their commitment to a road-map for enhancing cross-border payments. Central banks are refreshing their own infrastructure and, while doing so, making the most of the opportunity to increase resilience, interoperability and access. Finally, many authorities are considering the pros and cons of central bank digital currencies, as a form of trusted money in an increasingly digital world.
Target group:
Participants should have some expertise in payment systems with a particular focus on innovation in payments as it relates to central banking and regulation. The event will likely require participation from delegates. We welcome offers from colleagues to present on payments innovation in your organisation.
International – the role of central banks in negotiating trade agreements
1 September 2022
Event Directors:
Serena Kern-Libera, Kayleigh Guinan and Michael Smart
In co-operation with the Bank of England’s International Directorate, this short webinar aims to identify how central banks could engage in the development of international trade agreements. The focus will be on establishing good practice in this novel area for central banks. We are keen to share our own experiences and ideas with participants, and to learn from others.
Target group:
This seminar is aimed at central bankers and financial regulators who are interested in or have contributed to the development of trade agreements. We welcome offers from participants to share their experiences.
The fintech revolution: artificial intelligence in financial services
8 September 2022
Event Directors:
Mohammed Gharbawi, Oliver Thew, Seema Visavadia and Matthew Pegg
There are benefits in an increasingly data‐driven economy for customers, firms, the wider financial system and economy. However, artificial intelligence and machine learning can pose novel challenges and amplify risks. Although the risks to consumers and firms are well understood, the systemic risks are less well understood. Artificial intelligence may have implications for the regulatory framework and there are areas where further guidance could help firms realise the benefits and mitigate the risks. Central banks and financial regulators can support the safe adoption of artificial intelligence in financial services.
Target group:
Participants should have some expertise in artificial intelligence and its application with a particular focus on artificial intelligence as it relates to central banking and regulation. The event will likely require participation from delegates. We welcome offers from colleagues to present on your organisation’s approach to artificial intelligence.
Building diverse and inclusive central banks and financial regulators
27–29 September 2022
Event Directors:
Matthew Pegg and TBC
Building a diverse and inclusive Bank of England is one of our strategic priorities, reflecting the importance we place on it. The current global context presents both challenges and opportunities, and the Bank of England needs to be human, humble and in step with the changing world to respond effectively. We need leaders who embody this ambition, and a truly inclusive culture to enable all colleagues to unlock their potential. We do this because it is the right thing to do and will make us even more effective as an organisation, now and for the future.
This seminar will cover topics including developing an inclusive culture, adapting culture and behaviours to support new ways of working, leadership and developing a more diverse workforce.
The event will likely require participation from delegates. We welcome offers from colleagues to present on topics relevant to diversity and inclusion in their organisation.
Target group:
This seminar is aimed at central bankers and financial regulators who have management or leadership positions in areas of their institution responsible for diversity and inclusion initiatives.
Macroprudential framework
4–6 October 2022
Event Director:
Christine Jayaseelan
Over the past decade, macroprudential policy has evolved as an important policy function for central banks around the world. It has evolved further in response to Covid. In this event we will discuss the shared challenges and lessons learnt in the assessment of systemic risk and the implementation of macroprudential policy. The event will be a practitioners’ focused and will likely cover: (1) the macroprudential policy framework; (2) the policy toolkit; (3) specialist’ frontier topics in macroprudential policy and financial stability; and (4) the suite of approaches and techniques in measuring systemic risk and resilience. Presentations will be given by experts from the Bank of England. We welcome offers to present on any of the topics above.
Target group:
This event is aimed at expert practitioners in the area of financial stability, macroprudential policy and systemic risk assessment in their home authorities. Participants should be able to speak to the arrangements in place in their jurisdictions, so that they can fully engage in the seminars. We recognise however that in many countries the macroprudential function is still in its infancy.
Accelerating responsible innovation through Regulatory Technology (RegTech)
13–14 October 2022
Event Directors:
Melvin Lopez-Corleone and Matthew Pegg
The Bank of England has continued to accelerate responsible innovation, by continuing to explore and invest in Regulatory Technology (RegTech). In 2022, our RegTech agenda will focus on automation, strategy, research, digital skills and evolution.
The seminar will focus on the work of the Prudential Regulation Authority to develop and implement RegTech solutions for supervisory activities. Topics will include our digital skills journey, supervisory process improvements and our work with Artificial Intelligence (AI).
Target group:
This seminar is aimed at central bankers and financial regulators with some expertise in, or responsibility for RegTech solutions in their organisation. The event will likely require participation from delegates. We welcome offers from colleagues to present on topics relevant to the development and implementation of RegTech.
Climate workshop – central bank operations and the transition to net zero
18–20 October 2022
Event Directors:
Thomas Viegas and Michael Smart
The physical effects of climate change and the transition to a net-zero economy create financial risks and economic consequences. These risks and consequences matter for central banks and financial supervisors’ missions to maintain monetary and financial stability.
Central banks and supervisors can build resilience to the risks from climate change and support the net zero transition by ensuring that climate-related financial risks are pro-actively managed and pre-emptively mitigated through their policy functions (e.g. supervision of banks and insurers) and management of their own operations (e.g. the carbon footprint of buildings and corporate bond holdings).
This workshop will focus on how we might think about central banks’ own operations in the measurement, management and mitigation of the financial risks associated with climate change and transition to net zero. This includes assessing emissions from both their own physical activities (e.g. buildings, production of banknotes, and travel) and the potential link between the Bank’s financial market operations and emissions.
Target group:
The workshop is aimed at central bankers and regulators who are involved in monitoring, assessing, identifying, managing or mitigating risks related to climate change. We particularly encourage central bankers and regulators from emerging and developing markets to join us.
Presentations will be given by experts from central banks and supervisors. We strongly encourage offers from participants with an active interest in climate risk analysis to share their perspective and experiences.
Non-bank financial intermediation
9–10 November 2022
Event Directors:
David Barr and Angus Foulis
A significant proportion of the economy’s total credit intermediation now takes place outside the traditional banking system in what has been called, informally, the ‘shadow banking system’. The rise of non-bank financial intermediation of credit has had profound implications for the structure of the traditional banking system and for the wider economy. In this seminar we will aim to analyse how the new system operates, explore its impact on the financial system more generally and consider its implications for financial regulation.
Target group:
This seminar is aimed primarily at central bankers and regulators who wish to improve their understanding of how the shadow banking system works and its implications for financial stability and monetary policy.
Operational resilience of the financial sector
15–17 November 2022
Event Directors:
Nick Strange, Karen Gutierrez, Amy Lee and Matthew Pegg
Operational disruption can affect financial stability, threaten the viability of individuals firms and Financial Market Infrastructures, or cause harm to consumers and other market participants in the financial system. The challenges of making the financial sector resilient to this disruption have become more complex and intense in recent years, during a period of technological change and in an increasingly hostile cyber environment.
The workshop will explore the macroprudential and microprudential challenges of operational resilience and cyber; firms and policymakers must now move beyond preventing operational incidents towards actively responding, recovering and learning from them.
Target group:
The event is aimed at central bankers and regulators with an interest in or responsibility for monitoring, assessing, identifying or mitigating risks related to operational disruption. This responsibility may relate to the supervision of specific firms/financial market infrastructures; the financial stability of the sector as a whole; or the development of relevant policy. Attendees will be interested in learning about operational resilience, including key elements and perspectives for supervision and policy. We welcome offers from participants to share their experiences.
Building a fintech hub: organisation, objectives and strategy
15 December 2022
Event Directors:
Alex Mitchell and Matthew Pegg
Fintech presents both opportunities and challenges to the financial system and to central banks and regulators. We have seen the potential of emerging technology to make the financial system more efficient, resilient and inclusive by facilitating economic growth and democratising financial services, however it brings with it a unique set of challenges. Central banks and financial regulators have organised themselves to ensure they are ready for this technology revolution and contribute as active participants. Objectives for fintech functions include:
- supporting the safe adoption of new technology in finance;
- influencing the interaction between the digital economy and finance;
- driving policy on technology and innovation; and
- supporting understanding of fintech.
Target group:
This seminar is aimed at central bankers and financial regulators with a leadership role in fintech or an expert practitioner in this field and wish to increase/share their understanding of the organisations of fintech functions in central banks and financial regulators, their objectives and strategy. The event will likely require participation from delegates. We welcome offers from colleagues to present on your organisation’s fintech organisation, objectives and strategy.
Central bank balance sheets: taking the longer-term view
Date TBC
Event Directors:
Rhys Phillips, Andrea Rosen and Michael Smart
Since the Global Financial Crisis, and more recently during the Covid shock, central banks around the world have expanded their balance sheets and made much greater use of balance sheet tools as part of monetary policy. Many central banks are now thinking about the longer-term shape of their balance sheets, facing questions including the optimal size and composition; how balance sheet tools sit alongside interest rates in the monetary toolkit; and the governance around use of balance sheets in pursuit of objectives. The Bank will share its experiences so far, and seek to learn from others who are also tackling these questions.
Target group:
Participants should have some expertise in monetary policy and its implementation. We strongly encourage offers from participants to share their perspective and experiences.
Research and analytics focused conferences
First Annual BEAR Conference: the monetary toolkit
24–25 February 2022
We expect that this conference will be a hybrid event held onsite at the Bank of England and virtually using Microsoft Teams.
Event Directors:
Cristiano Cantore, Gabor Pinter and Andrew Blake
The aim of the conference is to promote BEAR with researchers in academia, other central banks and international institutions, and to foster discussion and collaboration with our researchers.
Further details including academic presenters and keynote speaker information, are separately available on a dedicated webpage.
7th Macro-finance Workshop
26–27 May 2022
Event Directors:
Gabor Pinter and Professor John Moore
The aim of this workshop, jointly organised with Professor John Moore, is to invite academics and central bankers from all around the world to present the frontiers of macro-finance related to the updated Bank of England Agenda for Research. Speakers in previous years included Ricardo Caballero, John Cochrane, Darrell Duffle, Nobuhiro Kiyotaki, Sydney Ludvigson, Anna Pavlova, Ricardo Reis, Helene Rey, Jean Tirole and Dimitri Vayanos among many others.
Target group:
Academics as well as research economists and senior policymakers working in central banks and regulatory authorities in the area of macro-finance are welcome to attend.
3rd Workshop on household finance and housing
17 June 2022
Event Directors:
Angus Foulis and Jagdish Tripathy
This workshop will bring together leading researchers to present frontier empirical and theoretical work related to the Bank of England Agenda for Research, in the broad fields of household finance and housing. It follows on from successful workshops held in 2020 and 2021 which were jointly organised with Imperial College Business School and the London School of Economics.
Target group:
Academics, central bank economists and financial regulators working on empirical and theoretical topics within the areas of household finance and housing are welcome to attend.
Advanced analytics: new methods and application for macreconomic policy
21–22 July 2022
Event Directors:
Andreas Joseph and Andrew Blake
Advanced analytics techniques, such as the analysis of novel large and unstructured data sources, or the application of techniques from machine learning and artificial intelligence, offer new insights into problems in economics and finance. These approaches have now found their way into broad-based research programmes in academia and policy institutions. This conference is the latest in a series of events jointly organised by the Bank of England, the European Central Bank and the Data Analytics for Finance and Macro Research Centre at King’s College London. The conference aims to connect leading researchers in academia and policy institutions to present and discuss the latest advances in the interdisciplinary field of advanced analytics in an economics, finance and policy context.
Target group:
Active researchers in central banks and academia who work in relevant areas who want to share policy-relevant research, and central bank staff and policymakers who wish to learn from it.
