Third BIS Research Network meeting on "Global Financial Interconnectedness"
A joint conference of the Bank for International Settlements, the Netherlands Bank, the Deutsche Bundesbank and the Review of Finance, Thursday 1 and Friday 2 October 2015, hosted by the BIS
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Thursday 1 October |
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Welcoming remarks by Jaime Caruana, General Manager (remarks) |
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Session 1: |
Global liquidity |
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Chair: Christian Upper "Global liquidity and external bond issuance in emerging markets and developing economies", E Feyen, S Ghosh, K Kibuuka and S Farazi (paper) (presentation) "Global liquidity and drivers of cross-border bank flows", E Cerutti, S Claessens and L Ratnovski (paper) (presentation) |
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Keynote address by Richard Berner (US Office of Financial Research) (remarks) |
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Session 2: |
International interbank markets |
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Chair: Michael Devereux "Banks interconnectivity and leverage", A Barrattieri, L Moretti and V Quadrini (paper) (presentation) "Crisis transmission in the global banking network", G Hale, T Kapan and C Minoiu (paper) (presentation) "The euro area money market network during the financial crisis: a look at cross-border fragmentation", C Hidalgo, F Heider and G Rünstler (paper) (presentation) |
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Keynote lecture by Darrell Duffie (Stanford University) (presentation) |
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Session 3: |
Information and risk sharing in networks |
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Chair: Morten Bech "A network map of information percolation", B Hagströmer and A Menkveld "Distress dispersion and systemic risk in networks", J Wang (paper) |
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Friday 2 October |
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Session 4: |
International spillovers |
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Chair: Thorsten Beck "Learning externalities in opaque asset markets: evidence from international commercial real estate", R Füss and D Ruf (paper) (presentation) "Comovement or safe haven? The effect of corruption on the market risk of sovereign bonds of emerging economies during financial crises", M Paserman (paper) (presentation) "The bank-sovereign nexus across borders", J Breckenfelder and B Schwaab (paper) (presentation) |
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Session 5: |
Harnessing new data sources |
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Chair: Iman van Lelyveld "Currency networks in cross-border bank lending", S Avdjiev and E Takáts (paper) (presentation) "Passing the hot potato: how does credit risk flow in the CDS market?", S Battiston, M D'Errico, T Peltonen and M Scheicher Presentation on "Exploring supervisory data", C Georg |
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Session 6: |
International interconnectedness |
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Chair: Goetz von Peter "Interconnectedness of the banking sector as a vulnerability to crises", T Peltonen, M Rancan and P Sarlin (paper) (presentation) "Syndication interconnectedness and systemic risk", J Cai, A Saunders and S Steffen (paper) (presentation) |
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Closing remarks by Hyun Song Shin, Economic Adviser and Head of Research (remarks) |
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