Norges Bank

Frontier Research in Banking

Online, 16-17 November 2020


Day 1 - 16 Nov, Oslo 3pm CET / NYC 9am Until Oslo 7pm CET / NYC 1pm

15:00-15:05 Welcoming Remarks by Torbjørn Hægeland (Executive Director, Financial Stability Division)

15:05-16:50 Session 1: Monetary Policy Transmission Channels
(Session chair: Kasper Roszbach, Norges Bank)

Why so Negative? The Effect of Monetary Policy on Bank Credit Supply across the Euro Area
Authors(s): Christian Bittner (Deutsche Bundesbank), Diana Bonfim (Banco de Portugal and Católica Lisbon), Florian Heider (European Central Bank), Farzad Saidi (Boston University), Glenn Schepens (European Central Bank), Carla Soares (Banco de Portugal)
Discussant: Diane Pierret (University of Luxembourgh)

Monetary Policy, Labor Income Redistribution and Credit Channel: Evidence from Matched Employer-Employee and Credit Registers
Authors(s): Martina Jasova (Barnard College, Columbia University), Caterina Mendicino (European Central Bank / Bank of Portugal), Ettore Panetti (Banco de Portugal), Jose-Luis Peydro (Imperial College London), Dominik Supera (Wharton School, University of Pennsylvania)
Discussant: Hans Degryse (KU Leuven)

Nonbanks, Banks, and Monetary Policy: U.S. Loan-Level Evidence since the 1990s
Authors(s): David Elliott (Bank of England and Imperial College London), Ralf Meisenzahl (Federal Reserve Bank of Chicago), Jose-Luis Peydro (Imperial College London), Bryce Turner (Federal Reserve Board)
Discussant: Diana Bonfim (Banco de Portugal, Catolica)

17:00-17:30 Keynote Speech by Mariassunta Giannetti (Stockholm School of Economics): Trade Credit in the Transmission of Unconventional Monetary Policy

17:30-18:00 Breakout Session

18:05-19:15 Session 2: Shadow Banking and Collateral Multipliers in Credit Markets
(Session chair: Thore Kockerols, Norges Bank)

The Side Effects of Shadow Banking on Liquidity Provision
Authors(s): Teodora Paligorova (Federal Reserve Board), Joao Santos (Federal Reserve Bank of New York)
Discussant: Klaus Schaeck (University of Bristol)

Safe Assets as Collateral Multipliers
Authors(s): Emre Ozdenoren (LBS), Kathy Yuan (LSE), Shengxing Zhang (LSE)
Discussant: Carola Müller (CEMLA)


Day 2 - 17 Nov, Oslo 3pm CET / NYC 9am Until Oslo 7pm CET / NYC 1pm

15:00-16:45 Session 3: Asymmetric Information and Regulation in Credit Markets
(Session chair: Ragnar Juelsrud, Norges Bank)

Bank Regulatory Capital Arbitrage: Evidence from Housing Overappraisals
Authors(s): Sergio Mayordomo, Omar Rachedi, Maria Rodriguez-Moreno (Banco de España)
Discussant: Stephen Karolyi (Tepper School of Business Carnegie Mellon University)

Lending Standards, Productivity and Credit Crunches
Authors(s): Jonathan Swarbrick (Bank of Canada)
Discussant: Jean Edouard Colliard (HEC)

How Is the Mortgage Market Affected by Loan-Loss-Provision Regulation? Evidence from Administrative Data in Chile
Authors(s): Mauricio Calani (Central Bank of Chile), Manuel Paillacar (Central Bank of Chile)
Discussant: Christoph Basten (Uni of Zurich)

17:00-17:40 Breakout Session

17:45-18:55 Session 4: International Banking
(Session chair: Karolis Liaudinskas, Norges Bank)

Global Banking and Firm Financing: A Double Adverse Selection Channel of International Transmission
Authors(s): Leslie Sheng Shen (Federal Reserve Board)
Discussant: Neeltje van Horen (Bank of England and University of Amsterdam)

US Banks and Global Liquidity
Authors(s): Ricardo Correa (Federal Reserve Board), Wenxin Du (University of Chicago), Gordon Liao (Federal Reserve Board)
Discussant: Valeriya Dinger (University of Osnabrück)

18:55-19:00 Closing Remarks: Kasper Roszbach (Norges Bank)


Local organizing committee: Jin Cao, Thore Kockerols, Carola Müller, and Kasper Roszbach

Edited 3 February 2020 18:00

Scientific Committee

  • Stefan Avdjiev (Bank for International Settlements)
  • Diana Bonfim (Banco de Portugal)
  • Barbara Casu (Cass Business School)
  • Ricardo Correa (Federal Reserve Board)
  • Hans Degryse (KU Leuven)
  • Valeriya Dinger (University of Osnabrück and Leeds Business School)
  • Linda Goldberg (Federal Reserve Bank of New York)
  • Martin Götz (Goethe University Frankfurt)
  • Iman van Lelyveld (De Nederlandsche Bank and Vrije Universiteit Amsterdam)
  • Friederike Niepmann (Federal Reserve Board)
  • Diane Pierret (University of Luxembourg)
  • Dennis Reinhardt (Bank of England)
  • Klaus Schaeck (University of Bristol)
  • Tim Schmidt-Eisenlohr (Federal Reserve Board)
  • Sascha Steffen (Frankfurt School of Finance & Management)
  • Fenghua Song (Pennsylvania State University)
  • Lena Tonzer (Halle Institute for Economic Research and MLU Halle)
  • Wolf Wagner (Rotterdam School of Management)
Edited 3 February 2020 18:00