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5. - 6. November 2018


Financial Cycles and Regulation


5. - 6. November 2018


Deutsche Bundesbank
Central Office
Wilhelm-Epstein-Straße 14
60431 Frankfurt am Main


Keynote Speakers: Claudio Borio (BIS)  John H. Cochrane (Hoover Institution, Stanford University)

Deutsche Bundesbank – LOEWE Center Sustainable Architecture for Finance in Europe (SAFE) – The German Institute for Economic Research (DIW) – The Halle Institute for Economic Research (IWH) cordially invite to a joint conference:

The recent Global Financial Crisis has highlighted the importance of financial cycles for macroeconomic and financial stability. While there is a widespread belief that credit and asset price cycles can affect both, there is no commonly accepted definition of the financial cycle and the analytical tools to describe it. In recent years, regulatory authorities in many coun-tries have introduced new macroprudential policy instruments with the aim of dampening financial cycles and addressing systemic risk. Given the limited agreement on the character-istics and measurement of financial cycles, it seems important to revisit current modelling strategies. The latter includes the interaction between financial and business cycles and be-tween different regulatory and stabilization policies. Since various regulatory measures (e.g., the countercyclical capital buffer) directly relate to the state of the financial cycle, a thorough understanding of the underlying macroeconomic concepts is a fundamental prerequisite for their successful application. The aim of the conference is to improve our understanding of the nature of financial cycles and to discuss the corresponding analytical challenges and implications for macroprudential policy and financial regulation. The conference is also an opportunity for an exchange of views of researchers and policymakers on the usefulness of regulatory measures.

Paper Submission Procedure
We are inviting papers and extended abstracts to be submitted by June 30, 2018 to FinancialCycles@bundesbank.de