The following topics are likely to be covered: • an introduction to recent research on exchange rates, in particular market microstructure models, behavioural finance models as well as the new ‘open economy’ macroeconomic paradigm; • reserve currency issues and aspects of foreign...

Topics likely to be covered include: • the objectives of monetary policy and optimal policy under commitment and discretion; • methods for estimating policy rules and objective functions; • forecasting with and without endogenous monetary policy; • modelling the zero lower bound on...

Financial regulation is usually justified by pointing to market imperfections that regulation seeks to address. Yet all real-world markets are imperfect and the welfare costs arising from these imperfections create strong incentives for market participants to devise their own solutions....

The seminar will focus on a wide range of financial stability issues. The topics covered in the event will fit within the following broad themes: • the enhanced role of the Bank of England in the UK framework for financial stability; • identification and assessment of key risks to financial...

This seminar will look at recent developments in money market operations, including the response of central banks to the recent financial market turbulence. In addition it will consider how monetary operations interact with a central bank’s financial stability and regulatory mandates [gemäß...

The upheavals in the global financial and economic landscape of recent years, together with fast-moving changes in information technology have posed particular challenges for central banks’ communications strategies. This workshop provides a forum for central bank experts to share experiences...

The aim of this workshop is to allow those responsible for the design and implementation of such policies to deepen their theoretical understanding of monetary operations and to compare and contrast experiences with their peers. The following topics will be covered: • scale of liquidity...

Although studies suggest value to firms investing in share schemes and incentive pay schemes the evidence is not clear-cut. It seems share ownership, in particular, operates best in combination with other HR and compensation policies, while individual incentive pay schemes have the clearest...

Formal models of the economy are important for central banks. They help ensure a consistent view of the transmission mechanism of monetary policy and facilitate the identification of shocks that affect the economy. They also form a coherent framework for forecasting and provide a benchmark to...

This seminar offers central bankers the opportunity to deepen their knowledge of the theoretical and practical aspects of these recent challenges to financial stability and macroprudential policy, and to share experiences with their peers. The following key topics are likely to be covered: •...