NBS I Bank of Finland I SUERF Research Conference

20 years of Macroprudential Policy in Europe – looking back and looking forward

Thursday, 21 September and Friday, 22 September 2023 I hybrid, Bratislava

Macroprudential Policy has been part of the economic policy toolkit in Europe for around 20 years. It was pioneered in the then transition economies of Central, Eastern and South-Eastern Europe and became a mainstream policy area throughout Europe after the Global Financial Crisis. Two decades is a good time to look back at the macroprudential experience of Europe. What did we learn about the efficiency of the numerous different tools that are used to tame economic and financial cycles and to strengthen the resilience of financial sectors? Did Macroprudential Policy help to cushion the crises that Europe experienced during the last two decades? What were the success factors and what were the mistakes? Now is also a good time to look ahead at how Macroprudential Policy can help to address the challenges that the European economy is facing? This includes the transformation towards a more market- and tech-based financial system. the transition to a sustainable economy and the possible shift to higher steady-state inflation. This conference will bring together leading academics and macroprudential policymakers to take stock and to provide some guidance on the future development of Macroprudential Policy.

Scientific coordination
Ernest Gnan, SUERF; Zuzana Fungacova, Bank of Finland; Esa Jokivuolle, Bank of Finland and SUERF; Ján Klacso, Národná banka Slovenska; and, Reiner Martin, Národná banka Slovenska and SUERF