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Monday, 8 and Tuesday, 9 November 2021, Frankfurt am Main
Purpose: The ECB’s annual conference on money markets brings together academics, market practitioners and central bankers to discuss the key developments in money markets, monetary policy implementation and central bank operational frameworks. Through a combination of research presentations, keynote speeches and insights from market participants, the workshop explores how efficient transmission of monetary policy can be ensured in the current money market environment.
Keynote speakers
Philip Lane, Member of the Executive Board, European Central Bank
Haoxiang Zhu, Gordon Y Billard Professor of Management and Finance, MIT Sloan School of Management
Money markets play a key role in the implementation and transmission of monetary policy. This has been demonstrated once again by the course of events since the start of the coronavirus (COVID-19) pandemic in early 2020. In recent years, money markets have evolved significantly in response to the changing environment. Central banks have resorted to non-standard monetary policy measures such as asset purchases, negative interest rates, (targeted) long-term liquidity-providing operations and expanded collateral frameworks. At the same time, regulatory action has paved the way for structural changes in money markets, such as a more prominent role for non-banks, an increase in secured lending and central clearing, and a reform of interest rate benchmarks. Looking ahead, the potential introduction of central bank digital currencies and policy initiatives related to the fight against climate change could have a significant bearing on the evolution of money markets and monetary policy implementation frameworks.
Papers should be submitted in portable document format (PDF) to MMWorkshop@ecb.europa.eu by 30 June 2021. Submissions by female researchers are particularly encouraged. Authors whose papers are accepted will be notified by the end of July 2021. Submitting authors should also indicate whether they would be willing to discuss a paper. 

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