Bank of Finland
Rauhankatu 19, Helsinki




Thursday, September 19, 2019
Thursday, September 19, 2019

In cooperation with

Experiences from the Global Financial Crisis and its aftermath have posed long-lasting challenges to both economic policies and research that helps guide policy. In this one-day event we will focus on the challenges faced particularly by central banks but also academics and practitioners in modelling and understanding monetary and macroprudential policy as well as in economic forecasting. A number of leading experts both from central banks and the academia have been invited to share their views.

Scientific Committee: Esa Jokivuolle, Bank of Finland, SUERF; Fabio Canova, Research fellow, Bank of Finland; Ernest Gnan, SUERF  and Oesterreichische Nationalbank; Jakob de Haan, SUERF President and De Nederlandsche Bank




Thursday, 19 September 2019
Registration and Coffee
Opening remarks
Jakob de Haan, SUERF President and De Nederlandsche Bank
Keynote speech I

Heterogeneity and Monetary Policy

Frank Schorfheide, Professor of Economics, University of Pennsylvania
Chair: Esa Jokivuolle, Bank of Finland I SUERF
Session 1 - Monetary policy modelling in low interest rate and low inflation environment

Resolving the missing deflation puzzle

Jesper Lindé, Head of Research, Sveriges Riksbank

Semi-structural general equilibrium models for policy analysis

Fabio Canova, Research fellow, Bank of Finland
Chair: Juha Kilponen, Head of Monetary Policy and Research Department, Bank of Finland
Coffee break
Keynote speech II

Moving forward with macroprudential frameworks

Stijn Claessens, Head of Financial Stability Policy and Deputy Head of the Monetary and Economic Department, BIS
Chair: Kimmo Virolainen, Adviser to the Board, Bank of Finland
Lunch and Poster presentation

Bank of Finland – Bank Capital Survey: Results

Session 2 - Macroprudential policies and credit markets

Bank Capital Regulation and Monetary Policy

Caterina Mendicino, Principal Economist, ECB

Bad times, good credit

Kasper Roszbach, Research Director, Norges Bank
Chair: Paavo Miettinen, Head of Division, Macroprudential Analysis Division, Bank of Finland
Coffee break
Session 3 - Forecasting models – Nowcasting with rich datasets

Nowcasting euro area GDP: 13 years of experience

Marta Banbura, Principal Economist, ECB

Practitioner’s view to nowcasting and forecasting at the Bank of Finland

Juha Kilponen, Head of Monetary Policy and Research Department, Bank of Finland
Chair: Eleonora Granziera, Senior Research Economist, Bank of Finland
End of Conference