International Conferences on Sovereign Bond Markets


Dear Colleagues and Friends,

It is our pleasure to invite you to attend the 7th International Conference on Sovereign Bond Markets.

The conference this year focuses on QE and its Unwinding, Currency Markets, and Trade, and it is hosted by the Bank of England. Co-organizers include the NYU Stern|Salomon Center for the Study of Financial Institutions, Research Center SAFE at Goethe University Frankfurt, the University of Michigan|Mitsui Life Financial Research Center, Imperial College, the Bank of Canada, the Deutsche Bundesbank, and the European Central Bank.

Many central banks in both industrialized countries and emerging markets responded to the financial crisis of 2008 and the accompanying global recession by adopting various forms of quantitative easing (QE) --- e.g., by buying massive amounts of bonds and other securities from market participants --- in order to provide liquidity to the markets, reduce the cost of capital, and ultimately foster economic growth.

More than a decade later, some central banks are in the process of unwinding at least some of these policies; many others, however, have signaled their willingness to maintain QE facilities in place indefinitely, as they are faced with increasing global economic and financial instability --- such as volatile currency markets, rising trade frictions among countries, and increasing indebtedness of the private and public sector. This policy choice raises the question of whether unconventional QE will become the "new normal" and so will its effects (and potential distortions) on both Wall Street and Main Street.

We solicit theoretical and empirical papers on the interactions between conventional and unconventional monetary policy, foreign exchange and sovereign debt markets, and the macroeconomy.

Topics of interest include (but are not limited to):

  • Unconventional monetary policies and normalization of the monetary policy 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 .
  • Financial regulation and deregulation and their impact on the sovereign bond markets
  • Financial stability and financial/monetary policies in a post-crisis world
  • Primary markets for sovereign debt.

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.

 

The Scientific Committee for this Conference includes:

Andrea Buraschi, Imperial College

Antonio Diez de los Rios, Bank of Canada

Michael Fleming, Federal Reserve Bank of New York

Iryna Kaminska, Bank of England

Simone Manganelli, European Central Bank

Emanuel Moench, Deutsce Bundesbank

Paolo Pasquariello, University of Michigan

Loriana Pelizzon, SAFE-Goethe University Frankfurt

Marti G. Subrahmanyam, Stern School of Business, New York University

Jun Uno, Waseda University

Toshinao Yoshiba, Bank of Japan and Tokyo Metropolitan University

 

 

Auspices

CREDIT Network
SoFiE