Conference on
Reserve Requirements
& Other Macroprudential Policies: Experiences
October
8-9, 2012
The Marmara Taksim Hotel
Istanbul
Participation
to the conference is by invitation only.
|
The Central Bank of Turkey is organizing a conference on
"Reserve Requirements & Other Macroprudential Policies: Experiences in Emerging Economies" on October 8-9, 2012
in İstanbul. The conference will bring central bankers and economists at other policy institutions together with
academics to present recent advances in empirical and theoretical work on the reserve requirements and other
macroprudential policies. The main objective of the conference is to provide a perspective on the use of
macroprudential policies such as reserve requirements and the emerging market countries' experiences with the
use of such policies, and challenges faced by central banks in the aftermath of the global financial crisis. The conference will be organized to focus on two central themes.
The first theme is on how reserve requirements and other macroprudential tools have been used to mitigate the
financial risk emanating from various sources such as capital flow surges, rapid credit growth, and asset and
commodity price fluctuations. In this context, the conference will also address how monetary transmission
mechanism works in a setup that incorporates macroprudential policy instruments, such as reserve or liquidity
requirements. Another particular objective of the conference will be to shed light on the effectiveness of
these macroprudential policy instruments on enhancing financial stability in emerging economies. The second
theme is to address the operational framework for incorporating macroprudential tools into financial stability
framework and to provide country experiences and case studies. |
|
Monday,
8 October 2012 |
|
|
8:00
– 9:00 |
Registration |
|
9:00
– 9:15 |
Opening remarks Erdem Başçı,
Central Bank of the Republic of Turkey |
|
9:15
– 10:00 |
Keynote 1: Charles A.E. Goodhart, London School of Economics
Background Paper: The Potential Instruments of Monetary Policy |
|
10:00
– 10:30 |
Coffee
break |
|
Session 1
Chair: Murat Çetinkaya,
Central Bank of the Republic of Turkey |
|
|
10:30
– 12:00 |
Countercyclical Macro Prudential Policies
in a Supporting Role to Monetary Policy
Papa N'Diaye, International Monetary Fund
Required Reserves as a Credit Policy Tool
Yasin Mimir, Central Bank of the Republic of Turkey
Prudential Policies in Good and Bad Times
Tito Cordella, World Bank |
|
12:00
– 13:30 |
Lunch
break |
|
|
|
|
13:30
– 14:15 |
Keynote 2: Hyun Song Shin, Princeton University
Background Papers: |
|
Session 2
Chair: Turalay Kenç, Central Bank of the Republic of Turkey |
|
|
14:15
– 15:30 |
Policymaking from a 'Macroprudential' Perspective in Emerging Market Economies
Ramon Moreno, Bank for International Settlements
Paolo Gelain, Norges Bank |
|
15:30
– 16:00 |
Cofee break |
|
16:00
– 17:15 |
Effects of Reserve Requirements in an Inflation Targeting Regime: The Case of Colombia
Hernando Vargas, Central Bank of Colombia
Macroprudential Policy: What Instruments and How to Use Them? Lessons from Country Experiences
Xiaoyong Wu, International Monetary Fund |
|
19:00-21:30
|
Gala Dinner |
|
Tuesday,
9 October 2012 |
|
|
Session 3
Chair: Ahmet Faruk Aysan,
Central Bank of the Republic of Turkey |
|
|
9:00
– 10:40 |
Fabrizio Lopez Gallo, Central Bank of Mexico |
|
10:40
– 11:00 |
Coffee
break |
|
Asia
Chair: Mehmet Yörükoğlu,
Central Bank of the Republic of Turkey |
|
|
11:00
– 12:30 |
Woon Gyu Choi , Bank of Korea |
|
12:30 - 13:30
|
Lunch break |