Conference on macroprudential regulation

A conference with the theme Macroprudential regulation: policy dynamics and limitations will be held on Friday January 29th, 2016, at the Institute of Banking, North Wall Quay, Dublin, organized by the Financial Mathematics and Computation Cluster, the Department of Economics, Finance & Accounting at Maynooth University and the UCD School of Business at University College Dublin. The conference schedule appears below.

There are no attendance fees for the conference, but attendees need to register. We are grateful to the Science Foundation of Ireland and the Irish Institute of Banking for their generous support of this conference. The Financial Mathematics Computation Cluster is a collaboration between University College Dublin, Maynooth University, Dublin City University and industry partners, with support from the Science Foundation of Ireland.

10:00 – 10:30  Registration and poster session

10:30 – 10:35  Welcome and introduction

Theme 1: Measuring Macroprudential Policy Needs and Policy Effectiveness

10:35 – 10:55  Marcelo Fernandes (Queen Mary University), “Response to supervisory stress tests”

10:55 – 11:15  John Fell (European Central Bank), “Credit flow restrictions: Implementation and coordination issues”

11:15 – 11:25  Coffee break

11:25– 11:45  Scott Frame (US Federal Reserve), “The failure of supervisory stress testing: Fannie Mae, Freddie Mac, and OFHEO”

11:45 – 12:05  Eugenio Cerruti (International Monetary Fund), “The Use and effectiveness of macroprudential policies: New evidence”

12:05 – 12:25  Panel discussion

12:25 – 13:25  Buffet lunch and poster session

Theme 2: Housing Markets and Macroprudential Policy

13:25 – 13:45  Gabriel Brunneau (Bank of Canada), “Housing market dynamics and macroprudential policy”

13:45 – 14:05  Kieran McQuinn (Economic and Social Research Institute), “Macroprudential policy in a recovering market: Too much too soon”

14:05 – 14:15  Coffee break

14:15 – 14:35  Christoph Basten (Swiss Financial Supervisory Authority), “Countercyclical capital buffers in Switzerland”

14:35 – 14:55  Angus Foulis (Bank of England), “The role of credit in the US housing boom: Insights from tiered housing data”

14:55 – 15:15  Panel discussion

15:15 – 15:20  Closing remarks

5 replies on “Conference on macroprudential regulation”

Macropru regulation is the equivalent of Hitler expecting the 11th (I think) Army to roll up before the Soviets and push them back thus saving Berlin in 1945. Neoliberalism is dying. What metric do you want ? US labour participation? Oil price? EZ inflation ? US wage inflation? UK productivity growth ? Deflation is spreading its way through the system, following the path blazed by debt. Tinkering with mortgage multiples is whistling in the wind. The macro foundations of the last 36 years have been exposed as nonsense.

For those of you at the back those memes are >

1 fiscal policy is pointless (it clogs up the channels pumping income to the plutocrats)
2 inflation is solely a function of money supply growth (QE skewered that)
3 employment recovers promptly to any shock (real US unemployment 10% 8 years on)

Countercyclical capital buffers in CH should be a hoot. the country is looking at another 10 years of Frankenschock and the SNB is ratlos, clueless.

Two themes? Eight sessions? This type of overcrowded session is hardly conducive to the attendees having time to engage in any meaningful manner with these closely intertwined, and quite vexacious political matters. You can lipstick them up as being ‘economic’ in an attempt to disguise their political nature. Qui bono?

How about one theme and two sesssions? The individual contributions being made available at least two weeks in advance so as to give time for the non-contributors to evaluate what will be presented.

eg: “Scott Frame (US Federal Reserve), “The failure of supervisory stress testing: Fannie Mae, Freddie Mac, and OFHEO””

Eh? If my information is correct, no meaningful fiduciary tests were actually conducted. So how could they have failed?

WRT private residential mortgages: Which should be mandated, which should be secunded? The opinionated value of the asset against which the mortgage will be issued, or the stability and adequacy of the income of the borrower over the life-time of the loan? And why?

Presumably the financial and economics spokesmodels for the various political parties to the forthccoming parliamentary election will be in full attendance?

Central Bank of the year in a year that was difficult for central banking. Did the CBI reach its own inflation target by any chance ?

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