| <Thursday, August 24, 2023> |
|
| 8:30 a.m. – 9:00 a.m. |
Registration and Welcome Coffee
|
| 9:00 a.m. – 9:05 a.m. |
Opening Remarks
Enoch Fung, Chief Executive Officer, The Hong Kong Academy of Finance and Executive Director, HKIMR
|
| 9:05 a.m. – 9:15 a.m |
Welcoming Remarks
Eddie Yue, Chief Executive, Hong Kong Monetary Authority
|
| 9:15 a.m. – 11:15 a.m. |
Session 1 – Currency Usage for cross-border payments, bank loans and external balance sheets
Chair: Iikka Korhonen, BOFIT
“Currency Usage for Cross-Border Payments” [Paper]
Longmei Zhang, International Monetary Fund
Roshan Iyer, International Monetary Fund
Hector Perez-Saiz, International Monetary Fund
“Determinants of currency choice in cross-border bank loans” [Paper]
Peter McQuade, European Central Bank
Lorenz Emter, European Central Bank
Swapan-Kumar Pradhan, Bank for International Settlements
Martin Schmitz, European Central Bank
“Currencies of External Balance Sheets”[Slides]
Luciana Juvenal, International Monetary Fund
Cian Allen, International Monetary Fund
Deepali Gautam, International Monetary Fund
Discussion and Q&A
|
| 11:15 a.m. – 11:30 a.m. |
Coffee Break
|
| 11:30 a.m. – 1:30 p.m. |
Session 2 - Capital Flow, Exchange Rate and Invoicing Currency Concentration
Chair: Phakawa Jeasakul, International Monetary Fund
“Capital Flows and Exchange Rates: A Quantitative Assessment of the Dilemma Hypothesis”
[Paper]
[Slides]
Shangshang Li, University of Oxford
Ambrogio Cesa-Bianchi, Bank of England, CEPR, and CfM
Andrea Ferrero, University of Oxford, CEPR, and CfM
“Granular Banking Flows and Exchange-Rate Dynamics”
[Paper]
[Slides]
Balduin Bippus, University of Cambridge
Simon Lloyd, Bank of England and Centre for Macroeconomics
Daniel Ostry, Bank of England and Centre for Macroeconomics
“Invoicing Currency Concentration and Currency Risk Premia”
[Slides]
Nick Sander, Bank of Canada
Julien Bengui, Bank of Canada and CEPR
Discussion and Q&A
|
| 1:30 p.m. – 2:30 p.m. |
In-house Lunch (By invitation)
|
| 2:30 p.m. – 4:30 p.m. |
Session 3 - International Use of Renminbi
Chair: Hans Genberg, Asia School of Business
“Renminbi Usage in Cross-Border Payments: Regional Patterns and the Role of Swaps Lines and Offshore Clearing Banks”
[Paper]
Longmei Zhang, International Monetary Fund
Hector Perez-Saiz, International Monetary Fund
“The RMB as a trade settlement currency: An exploratory analysis of economic vs institutional determinants”
[Slides]
Alicia García-Herrero, Natixis
Alessia Amighini, ISPI
Haoxin Mu, Natixis
“Dual Approach for One Goal: The Internationalization of Renminbi during 2010-2021”
[Slides]
Qing Liu, Tsinghua University
Wenlan Luo, Tsinghua University
Jiatong Niu, Tsinghua University
Discussion and Q&A
|
| 4:30 p.m. – 4:45 p.m. |
Coffee Break
|
| 4:45 p.m. – 6:30 p.m. |
Session 4 - International Roles of Euro and Dollar
Chair: Gergely Hudecz, European Stability Mechanism
“The EU’s Response to the COVID-19 Crisis: A Game Changer for the International Role of the Euro?”
[Paper]
[Slides]
Heliodoro Temprano Arroyo, European Commission
“Dollar trinity and the Global Financial Cycle”
[Slides]
Georgios Georgiadis, European Central Bank
Gernot J. Müller, University of Tübingen and CEPR
Ben Schumann, Free University of Berlin
“Dollar Funding Shortage - A New Database and New Evidence”
[Paper]
[Slides]
Maylin H. Sun, American University, Washington DC
Discussion and Q&A
|
| 6:30pm |
Conference Dinner (By invitation)
|
| <Friday, August 25, 2023> |
|
9:00 a.m. – 10:00 a.m. |
Policy Panel
Panel 1: How to Manage the International Monetary and Financial System in a More Fragmented Geo-Economic World?
Chair: Rolf Strauch, European Stability Mechanism
Panelists:
Linda Goldberg, Federal Reserve Bank of New York (Virtual)
[Slides]
Fabio Natalucci, International Monetary Fund (Virtual)
Chengjun Zhou, The People’s Bank of China (Virtual)
Benoit Mojon, Bank for International Settlements
Q&A
|
| 10:00 a.m. – 11:00 a.m. |
Panel 2: Policy Initiatives in a Changing International Monetary System
Chair: Arnaud Mehl, European Central Bank
Panelists:
Dong He, International Monetary Fund (Virtual)
[Slides]
Kouqing Li, ASEAN+3 Macroeconomic Research Office
[Slides]
Saleem Bahaj, UCL
Q&A
|
| 11:00 a.m. – 11:15 a.m. |
Coffee Break
|
| 11:15 a.m. – 12:35 p.m. |
Session 5 - Crypto Assets and their Implications
Chair: Ilhyock Shim, Bank for International Settlements
“Crypto Currencies and Banking Sector Connectedness: Don’t Worry, Be Happy . . . for Now”
Jorge A. Chan-Lau, ASEAN+3 Macroeconomic Research Office
Toan Long Quach, ASEAN+3 Macroeconomic Research Office
Liyang Tang, ASEAN+3 Macroeconomic Research Office
“The Crypto Cycle and US Monetary Policy”
[Paper]
[Slides]
Alexander Copestake, International Monetary Fund
Natasha Che, International Monetary Fund
Davide Furceri, International Monetary Fund
Tammaro Terracciano, IESE Business School (Barcelona)
Discussion and Q&A
|
| 12:35 p.m. |
Adjourn
Conference Lunch (By invitation)
|