About the event
Dates: 26-27 April 2021
In recent decades, cross-country economic and financial interdependencies have become more and more complex. At the same time, the decline in global interest rates, which began before the global financial crisis, has deepened. This has been driven by a combination of the limited availability of safe assets, secular stagnation, a global saving glut and monetary policy easing by central banks. In this environment, policy mixes featuring unconventional monetary policy, foreign exchange interventions, macroprudential measures and capital flow management have increasingly been adopted to better cope with the spillovers of a highly interconnected global economy. An additional layer of complexity has been introduced by the coronavirus (Covid) pandemic and its consequences for the global economy, public finances, monetary policy and financial fragilities. This conference aims to close gaps in our understanding of the international transmission of local vulnerabilities and shocks in a post-pandemic, high-debt, low interest rate environment.