Sovereign Capital Markets in pandemic times - April 7-8 2022

The conference will be hosted by the Bank of England and is currently planned to be held in person (with a remote option) at its London Headquarters. Should pandemic conditions change, the conference will be held remotely.

About the conference

Date: 7-8 April 2022
Location: Bank of England with a remote option

Co-organizers include the NYU Stern, Leibniz Institute for Financial Research SAFE, Brevan Howard Centre at Imperial College London, London Business School, the Bank of Canada, the Deutsche Bundesbank, and the European Central Bank. 

Theme

The coronavirus pandemic presented numerous unprecedented challenges to central banks in both industrialized countries and emerging markets. The sudden global recession, the often-interrupted recovery, the displacement of labor, capital, and financial resources all required policy makers to adopt new strategies, often untested, in order to provide liquidity to the markets, reduce the cost of capital, and ultimately limit the impact on the economy --- all the while the pandemic continued to destabilize the pre-existing economic order. These actions raise numerous questions about their rationale and effectiveness as well as about their potential distortions on both Wall Street and Main Street --- from a liquidity glut to excessive risk-taking to volatility .

Topics

We solicit theoretical and empirical papers on the interactions between conventional and unconventional monetary policies and market maker of last resort functions of central banks; foreign exchange and sovereign debt markets, and the macroeconomy in coronavirus times. Topics of interest include (but are not limited to):

  • Unconventional monetary policies and market maker of last resort functions of central banks during the pandemic and:
    • the pricing of financial assets and exchange rates
    • the risk taking by banks
    • spillovers and network effects to other developed and emerging markets
    • spillovers and network effects across asset classes
    • currency regimes
    • the investment and financial decisions of firms
    • financial market liquidity;
  • The impact of pandemic-motivated monetary and fiscal policies on the sovereign bond markets
  • Financial stability in a post-pandemic world:
    • sovereign risk and bank-sovereign “doom loop”
    • financial dislocations and their real effects.

While the above topics define the broad contours of the areas of interest, papers in related areas may also be considered. The final program will include both submitted and invited papers. The conference will also feature a panel discussion on the major outstanding issues in sovereign bond markets.

Conference deadlines

Those wishing to present a paper at the conference should submit by 25 January 2022 at sovereign.conference@greta.it. Decisions regarding acceptance will be made by February 15, 2022. The final version of accepted papers must be received by March 1, 2022. Please visit the GRETA.it - Sovereign Bond Markets Conference 2022 for further information about the current and past conferences.

The scientific committee

Kartik Anand, Deutsche Bundesbank 
Andrea Buraschi, Imperial College
Antonio Diez de los Rios, Bank of Canada
Robert Engle, NYU Stern
Michael Fleming, Federal Reserve Bank of New York
Iryna Kaminska, Bank of England
Simone Manganelli, European Central Bank
Emanuel Moench, Frankfurt School
Paolo Pasquariello, Ross School of Business, University of Michigan
Loriana Pelizzon, Research Center SAFE at Goethe University Frankfurt
Stephen Schaefer, London Business School
Marti G. Subrahmanyam, NYU Stern
Toshinao Yoshiba, Bank of Japan and Tokyo Metropolitan University

This page was last updated 06 January 2022

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