Monetary Law Blog

Macro-Financial Stability in the New Normal (IMF Conference)

In the aftermath of the global financial crisis, monetary and regulatory policies are being reassessed to reduce systemic vulnerabilities and costly financial crises.

The global financial crisis has highlighted weakness in macroeconomic and regulatory policies and market failures that contributed to a buildup of systemic risks. In this context, numerous questions have arisen. What was the role of monetary policy and financial regulation in contributing to vulnerabilities? How can monetary policy be adapted to achieve greater financial stability? What are the lessons from the crisis for the design of macro-prudential policies and regulations? What are specific lessons for emerging markets that are experiencing large and volatile capital flows? Is there a need to revisit financial liberalization?

The Macro-Financial Unit in the IMF Research Department is organizing an academic conference, where leading economists will present their work on these issues, shed light on lessons learned from the crisis, and provide policy suggestions.

Date: April 7, 2011

Time: 8:30 am – 4:00 pm

Venue: HQ1-R-710 (Auditorium)
700, 19^th St N.W., Washington, D.C.

 

What Is A Useful Central bank?

On November 18, 2010 the Norwegian central bank (Norges Bank) held a conference discussing 'What is a useful central bank?'  with an international group of central bankers and academicians. The conference was structured around four topics:

• historical perspectives on central banking (long term perspective and the interwar years);
• perspectives from the emerging economies;
• theory and practice of central banking (fiscal dominance, and design and governance; and
• the future of central banking.

Follow this link for the conference papers and presentations.

 

International Financial Institutions in a Post-Crisis World: Legal Challenges and Opportunities

The 2010 Law, Justice and Development Week , which will be held between November 8 and 12, 2010 in Washington, DC, will bring together senior officials from various international financial institutions, global finance and development practitioners, government officials, lawyers and judges, scholars and academics, and representatives from NGOs and civil society.

The headline event will focus on "International Financial Institutions in a Post-Crisis World: Legal Challenges and Opportunities" and will be held at the International Monetary Fund Headquarters on November 8 and 9.

Does The Euro Have A Future?

This week the Economist Conferences is organizing a Euro Zone Dialogue to discuss whether the euro has a future.

Last week Oxford Economics organized a gathering where a similar topic was discussed in a presentation on 'The Outlook For Europe.'  (Please note, though, that the recently introduced 'exit clause' in the EU Treaty appears to be lacking in the presentation's discussion on how to leave the EU.)

Macro-prudential Regulatory Policies: The New Road to Financial Stability?

In conjunction with the International Monetary Fund, the Federal Reserve Bank of Chicago will hold its 13th annual International Banking Conference on September 23–24, 2010. This year, the conference examine the role of macroprudential regulation in the financial sector. Shocked by the experience of the last few years, many argue that the more traditional microprudential regulatory tools are inadequate to create a safe and stable financial system. Instead, it is argued, there is a need for both microprudential approaches to regulate individual institutions and macroprudential approaches to manage the overall financial system risks. However, a number of important questions must be answered:

• What are the theoretical motivation for such regulation?
• How would it interact with other regulatory and macroeconomic policies, especially monetary policy?
• What would be the specific macroprudential tools?
• Who should have control over the macroprudential tools?
• How should a macroprudential regulator be structured?
• Where should it be housed?
• How can macroprudential policies be structured across national borders?
• What role, if any, can market discipline play in supporting macroprudential objectives?

These and related issues will be addressed at the two-day conference.

For more information and registration follow these links: Federal Resever Bank of Chicago and International Monetary Fund.

The mandate and roles of Asian central banks

At the Bank of Korea International Conference 2010 “The changing role of central banks” (Seoul, 31 May 2010), Dr Zeti Akhtar Aziz, Governor of the Central Bank of Malaysia, gave a keynote speech on the development of mandates and roles of Asian central banks on a national and regional level.

An Autopsy of the Financial System: Suicide, Accident, or Negligent Homicide

On the World Bank blog 'All About Finance' you will find an interesting post and video by Professor Ross Levine. The post summarizes his presentation at the World Bank on April 28 entitled 'An Autopsy of the Financial System: Suicide, Accident, or Negligent Homicide?' The video of the event is available here.

Professor Ross Levine is the James and Merryl Tisch Professor of Economics at Brown University. In this blog entry, he addresses three issues: (1) The causes of the cause of the financial crisis, (2) Core approaches to financial regulation, and (3) Systemic improvements. He also directs readers to longer treatments of each of these issues.

The All About Finance blog is run by a team under leadership of Asli Demirgüç-Kunt who is the Chief Economist of the Financial and Private Sector (FPD) Development Network and Senior Research Manager of Finance and Private Sector (DECFP) in the World Bank's Development Economics Research Group.

Second Biennial Global Conference of the Society of International Economic Law (SIEL)

SIEL is getting together in Barcelona/Spain for its second biennial global conference, July 8-1-, 2010.

The conference committee seeks proposals for paper presentations and conference panels. For program and registration info see the conference website.

Conference on The International Law of Financial Markets

April 22 and 23, 2010 the European Society of International Law will organize a conference entitled "The International Law of Financial Markets: Governance, Stability and Security."

The conference will be held in Granada, Spain and will include the following topics:

1. 'The New Governance of the International Monetary and Financial System' addressing the role of the G20, the International Monetary Fund, and the Financial Stability Board;
2. 'The International Law Regulation of Financial Services' addressing the place of GATS, the EU's monetary Union and single financial area, and the new system of financial supervision in the EU, and
3. 'International Finance and Security' addressing money laundering and terrorism financing, and bankruptcy and insolvency.

Follow this link for the the full program.

Language of Money / Die Sprache des Geldes

The Musuem for Communication (Museum für Kommunikation) in Frankfurt am Main / Germany is having an euro exhibition on the language of money. Click here for pictures.