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<Thursday October 12>
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| 8:30 am – 9:00 am |
Registration and Welcome Coffee
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| 9:00 am – 9:10 am |
Welcome Remarks
by Norman T. L. Chan, Chief Executive, Hong Kong Monetary Authority
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| 9:10 am – 9:50 am |
Keynote Speech
by Raphael Bostic, President, Federal Reserve Bank of Atlanta
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| 9:50 am – 10:20 am |
Coffee Break
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| Session 1 |
Monetary Policy in a Low Interest Rate Environment
Session Chair: Lillian Cheung, Hong Kong Monetary Authority and Hong Kong Institute for Monetary Research
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| 10:20 am – 11:10 am |
Monetary Policy in a Low Interest Rate World
John Roberts (Federal Reserve Board)
Discussant: Paolo Pesenti (Federal Reserve Bank of New York)
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| 11:10 am – 12:00 nn |
Does a Big Bazooka Matter? Central Bank Balance-Sheet Policies and Exchange Rates
Luca Dedola (European Central Bank and CEPR)
Discussant: Pengfei Wang (Hong Kong University of Science and Technology)
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| 12:00 nn – 1:50 pm |
In-house Luncheon Speech (By invitation)
“International Spillovers of Monetary Policy”
by Steven Kamin, Director of the Division of International Finance, Federal Reserve Board
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| Session 2 |
Unconventional Monetary Policy and Its Spillovers to Emerging Market Economies
Session Chair: John Rogers, Federal Reserve Board
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| 1:50 pm – 2:40 pm |
Effects of US Quantitative Easing on Emerging Market Economies
Arpita Chatterjee (University of New South Wales)
Discussant: Jongrim Ha (The World Bank)
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| 2:40 pm – 3:30 pm |
Emerging Market Corporate Leverage and Global Financial Conditions
Adrian Alter (International Monetary Fund)
Discussant: Hunter Clark (Federal Reserve Bank of New York)
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| 3:30 pm – 4:00 pm |
Coffee Break
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| Session 3 |
Unconventional Monetary Policy and Banking Lending Rate Pass-through
Session Chair: Hongyi Chen, Hong Kong Institute for Monetary Research
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| 4:00 pm – 4:50 pm |
Effectiveness of Unconventional Monetary Policies in a Low Interest Rate Environment
Andrew Filardo (Bank for International Settlements)
Discussant: Ji Zhang (Tsinghua University PBC School of Finance)
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| 4:50 pm – 5:40 pm |
Mending the Broken Link: Heterogeneous Bank Lending and Monetary Policy Pass-through
Matteo Ciccarelli (European Central Bank)
Discussant: Feng Zhu (Bank for International Settlements)
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| 6:00 pm |
Conference Dinner (By Invitation)
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<Friday October 13>
|
| 8:30 am – 9:00 am |
Registration and Coffee
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| Session 4 |
Unconventional Monetary Policy and Real Economy
Session Chair: Tao Zha, Federal Reserve Bank of Atlanta
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| 9:00 am – 9:50 am |
Did QE lead banks to relax their lending standards? Evidence from the Federal Reserve’s LSAPs
Tom Zimmermann (QuantCo, Inc)
Discussant: Dora Xia (Bank for International Settlements)
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| 9:50 am – 10:40 am |
Did ECB Liquidity Injections Help The Real Economy?
Dragon Tang (University of Hong Kong)
Discussant: Mico Loretan (Swiss National Bank)
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| 10:40 am – 11:00 am |
Coffee Break
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| Session 5 |
Unconventional Monetary Policy and Financial Stability
Session Chair: Matthew Yiu, Hong Kong Institute for Monetary Research
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| 11:00 am – 11:50 am |
Unconventional Monetary Policy and Risk-Taking: Evidence from Agency Mortgage REITs
W. Scott Frame (Federal Reserve Bank of Atlanta)
Discussant: Yongheng Deng (National University of Singapore)
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| 11:50 am – 12:40 am |
Dynamics of Market Anomalies and Measurement Errors of Risk-free Interest Rates
Cho-Hoi Hui (Hong Kong Monetary Authority)
Discussant: Tao Li (City University of Hong Kong)
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| 12:40 pm |
Closing Remarks
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