14th Annual NBP-SNB Joint Seminar: Monetary policy spillovers, 10-12 May 2017

Conference organisation

• Programme

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Keynote speech

• Stephen G. Cecchetti: Spillovers, Spillbacks and the Role of the US Dollar

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Session 1 (policy-oriented): Monetary policy spillovers in central and eastern Europe

• Alain Gabler: Monetary policy spillovers: the case of Switzerland

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• Erald Themeli: Spillovers of the Euro-area expansionary monetary policy in Albania

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• Dimitriy Chernyadyev: Monetary policy spillovers: the case of 2014 shock in Russia

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Session 2: Spillovers via exchange rates

• Juliusz Jabłecki: Understanding risk premia in emerging market exchange rates

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• Soňa Benecká: Risk aversion, financial stress and their non-linear impact on exchange rates

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Session 3: Spillovers via banks

• Krzysztof Makarski: Crisis, contagion and international policy spillovers under foreign ownership of banks

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• Előd Takáts: Monetary policy spillovers and currency networks in cross-border bank lending

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Session 4 (policy-oriented): Spillovers in Central Asia and the Caucasus

• Olzhas Tuleuov: Cross-border dynamics of inflationary processes in Eurasian Economic Union (EAEU): an empirical assessment

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• Shalva Mkhatrishvili: Policy Spillovers in the Caucasus Region: The Role of Financial Dollarization

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Session 5: Spillovers via long-term interest rates

• Christian Grisse: Lower bound beliefs and long-term interest rates

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• Maciej Stefański: Natural rate of interest: spillovers from advanced economies to Central and Eastern Europe

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Session 6: Modeling spillovers

• Oleksandr Faryna: The transmission of international shocks to CIS economies: A global VAR approach

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• Matthias Gubler: Does independent monetary policy shield against international spillovers to inflation? An empirical study with Swiss data

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Conference venue

Restaurant Metropol, Zurich

Organising committee

• Alain Gabler (Swiss National Bank)
• Marco Cavaliere (Swiss National Bank)
• Gilbert Heim (Swiss National Bank)
• Magdalena Berlińska (National Bank of Poland)

Conference office

Swiss National Bank
International Monetary Cooperation
Boersenstrasse 15
P.O. Box
CH-8022 Zurich, Switzerland