31st SUERF Colloquium and Baffi Finlawmetrics Conference 2014 - Call for Papers - Research Questions

31st SUERF Colloquium and Baffi Finlawmetrics Conference 2014 - Call for Papers - Research Questions

The Following Research Questions (non-exhaustive list) are suggested for discussion at the 31st SUERF Colloquium and Baffi Finlawmetrics Conference 2014 to be held on 4-5 June 2014. The full Call for Papers for the event and details about submission to it (deadline for submissions 31.01.2014) can be found here.

Commission 1. Monetary policy and growth

  • What role can monetary policy play in sustaining or reviving growth?
  • Is Keynes’ liquidity trap theory still relevant in the 21st century?
  • Has the crisis in recent years triggered a lasting (or merely temporary) change in the paradigm of the role and objectives of central banks?
  • What is the appropriate division of responsibilities between the Government and the central bank regarding improvement of economic growth?
  • Has the crisis altered our views on the optimal institutional status of central banks (independence, policy coordination versus independent pursuit of various policies by mutually independent institutions)?
  • How has the crisis changed monetary policy strategies?
  • Is the old school (narrow) inflation targeting a thing of the past?
  • Can asset price inflation after the experience of multiple bubbles be ignored by central banks in the future?
  • How will monetary policy and macroprudential policies interact in practice, and what is the evidence to date?
  • How large and serious are differences in financing conditions across EA countries?
  • What instruments are available for the monetary authorities?
  • To what extent have non-conventional policies already alleviated these problems?
  • How should the monetary authorities cope with public and private debt overhangs?
  • Is higher inflation (surprise inflation, announced inflation targets) an acceptable solution?
  • What are the costs and benefits?
  • What would be the distributive effects across countries and across constituencies within countries? Is monetary financing an appropriate solution when the aim is to stimulate growth?
  • How do the policies of major central banks across the world differ in this respect?
  • What are the inflationary risks from monetary financing in the short, medium and long term?

Commission 2. Financial regulation and growth

  • What are the costs and benefits of financial regulation?
  • How should "optimal financial regulation" be defined?
  • Has bank prudential regulation become too detailed and complex?
  • Should banks be required to have a greater capital cushion than is currently envisaged under Basel III?
  • Should financial regulators be concerned about economic growth?
  • Is it possible to design a regulatory and supervisory framework which can provide a well-functioning trade-off between financial stability and maintenance of economic growth?
  • What kind of regulation could have prevented the bubble-burst cycle of the last decade?
  • Is there an emerging consensus on the design of regulatory and supervisory systems?
  • What effects do more intensive bank regulation and tighter supervision have on economic growth? How much growth will be lost in normal times if credit growth is constrained?
  • What are the mechanisms through which such constraints will be felt?
  • What does the first empirical evidence in the context of preparation and implementing Basel III indicate?
  • How far is it possible to move from a backward-looking approach to regulation and supervision to a forward-looking approach?
  • Is it possible to develop appropriate measures to identify and support regulatory prevention of the next looming bubbles or crisis?
  • How should regulators and supervisors identify future bubbles and crises and what should they do to prevent them?
  • How do we avoid circumvention and undesired side effects from regulation and supervision?
  • Is more deleveraging required in Europe/ in various European countries?
  • If so, how will it happen (alternative scenarios)?
  • How much is driven by banks or other capital providers through credit supply restraint, how much by borrowers (firms and households) through low credit demand?
  • What combination of measures will most likely entail which scenarios?
  • What scenarios would be preferable from a growth perspective?

Commission 3. Economic growth andfinancial institutions and markets

  • Which financial institutions in Europe have in recent years been most active in the financing of economic growth?
  • What is the proper role of banks and other financial intermediaries in the provision of venture capital?
  • How can risk-sharing provisions in contracts be used to further the participation of banks in the financing of innovative firms?
  • Should pension funds invest in the venture capital industry?
  • Does/will stiffer bank regulation trigger more securitized lending?
  • To what extent can corporate bond markets contribute to the financing of economic growth?
  • Which differences are there between the funding opportunities of large companies and SMEs?
  • Are there special corporate governance problems in upstart companies and if so, how should they be dealt with?
  • What contribution do/can universities in Europe make by developing research and teaching in entrepreneurship and financing and management of upstart companies?
  • What is the proper balance between debt and equity in companies strongly involved in research and development?
  • Are there important cases where the potential conflicts between EU’s state aid rules and National Government’s efforts to foster research and development have been clarified?
  • How does tax policy influence bank behaviour, savings behaviour and financing decisions and in this way contribute to, or hamper, economic growth?
  • How to assess policy measures by the EU and various National Governments in this respect since 2007?
  • How have ailing national banking systems in several EU countries affected financing conditions, credit supply and economic growth?
  • Through what channels does integration of financial markets influence economic growth?
  • What role can we expect the EIB and national public institutions to play in the financing of economic growth in Europe?
  • Given the experience of the banking crisis, is there a viable role for securitisation in the post-crisis era?