Programme: - Taming the Real Estate Beast: The Effects of Monetary and Macroprudential Policies on Housing Prices and Credit. By Kenneth Kuttner and Ilhyock Shim* (BIS) - Rental Rate under Housing Price Uncertainty: A Real-Options Approach. By Honglin Wang* (HKIMR), Fan Yu (CMC and SAIF) and...

Programme: - Recent Performance of the Hong Kong Dollar Foreign Exchange Market and the Linked Exchange Rate System - Transmitting Global Liquidity to East Asia: Dollar Credit in Mainland China and Hong Kong - Rising Mainland Exposure of Hong Kong Banks: Finding the Optimum Level and Assessing...

Topics: • Sources of financial instability • Integrating a system-wide approach into financial regulation • Measurement of systemic risk • Identifying systemically important financial institutions, instruments and markets • Procyclicality in the financial system and countercyclical...

The topic of the 12th CEPR/ESI Annual Conference will be ‘The Evolving Financial System and the Transmission Mechanism of Monetary Policy'. The structure of the financial system has changed considerably in recent years in at least three ways.

The workshop will provide an opportunity for researchers and practitioners to discuss theoretical and empirical issues regarding the microstructure of financial markets and for researchers studying different financial markets to interact.