Systemic Risk Centre Event
Date: Thursday 28th January 2021
Time: 1.00-6.15pm GMT (8.00am-1.15pm EST)
Organisers: Jon Danielsson (SRC/LSE), Marcela Valenzuela (Catholic University of Chile & SRC), Ilknur Zer (Federal Reserve Board & SRC)
This is a two-part event which will focus on the effects of financial risk on uncertainty, business cycles, capital flows, and macroeconomy.
Part 1 of the conference will provide a forum for discussing innovative research in the area and facilitate the exchange of views among researchers and policymakers.
Time: 1.00-5.00pm GMT (8.00am-12.00pm EST)
Speakers: Anusha Chari (University of North Carolina at Chapel Hill), Şebnem Kalemli-Özcan (University of Maryland), Carolin Pflueger (University of Chicago), Moritz Schularick (University of Bonn & FRBNY), Ilknur Zer (Federal Reserve Board & SRC)
Anusha Chari (University of North Carolina at Chapel Hill)
Capital Flows in Risky Times: Risk-on/Risk-off and Emerging Market Tail Risk
Ilknur Zer (Federal Reserve Board & SRC)
The Impact of Risk Cycles on Business Cycles: A Historical View
Carolin Pflueger (University of Chicago)
Why Does the Fed Move Markets so Much?A Model of Monetary Policy and Time-Varying Risk Aversion
Şebnem Kalemli-Özcan (University of Maryland)
International Spillovers and Local Credit Cycles
Moritz Schularick (University of Bonn & FRBNY)
Zombies at Large? Corporate Debt Overhang and the Macroeconomy
Part 2 of the event will conclude the day with a panel, bringing together leading policymakers and economists to discuss policy lessons pertaining to the financial and macroeconomic consequences of COVID-19 and related policy responses.
Financial risk, macroeconomy and central bank response to COVID-19
Time: 5.15-6.15pm GMT (12.15pm-1.15pm EST)
Panellists: Alex Brazier (Bank of England), Jon Danielsson (SRC/LSE), Pat Parkinson (Bank Policy Institute), Isabel Schnabel (ECB & University of Bonn)
Chair: Yves Mersch (Former Member of the Executive Board, European Central Bank and Member of the SRC Scientific Advisory Board)
Alex Brazier is Executive Director for Financial Stability Strategy and Risk at the Bank of England and a member of the Financial Policy Committee (FPC). Previously, he was the Governor’s Principal Private Secretary.
Jon Danielsson is Reader in Finance at LSE and Director of the Systemic Risk Centre. His research interests cover systemic risk, financial risk, econometrics, economic theory and financial crisis. His comment at this panel is based on his column "Moral hazard, the fear of the markets, and how central banks responded to Covid-19" published on VoxEU.
Pat Parkinson is a Senior Fellow at the Bank Policy Institute. He spent most of his career at the Federal Reserve Board, where he was Deputy Director of Research and Statistics and Director of Banking Supervision and Regulation.
Isabel Schnabel is a member of the Executive Board of the European Central Bank and Professor of Financial Economics at the University of Bonn (on leave).
This online public event is free and open to all, but pre-registration is required.