16th Annual NBP-SNB Joint Seminar: Current Account and Exchange Rate Adjustment, 16-18 December 2019

Conference organisation

• Programme

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Keynote speech

• Gian Maria Milesi-Ferretti: Measuring international financial integration

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Session 1: Assessment of external sector

• Mitali Das: Approaches to external balance assessment at the IMF

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• Michele Ca' Zorzi: The predictive power of equilibrium exchange rate models

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• Thomas Nitschka: Discussion of "The predictive power of equilibrium exchange rate models"

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• Miriam Rinawi: Demographics, pensions, and current accounts

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• Mitali Das: Discussion of "Demographics, pensions, and current accounts"

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Session 2: Monetary policy considerations

• Maciej Stefański: Monetary policy of the NBP in a changing external environment

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Session 3: Challenges to monetary policy

• Marcin Bielecki: The demographic transition and monetary policy in a small open economy

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• Daniel Kaufmann: Discussion of "The demographic transition and monetary policy in a small open economy"

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• Jan Hagemejer: Export-led growth and its determinants: Evidence from CEEC countries

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• Sarah Lein: Discussion of "Export-led growth and its determinants: Evidence from CEEC countries"

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Session 4: Statistical issues in external balances

• Krzysztof Makowski: Enriching FDI presentation and analysis

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• Patrick Lengg: Complex group structures in Switzerland and challenges for Switzerland's external statistics

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Session 5: Cross-border linkages and spillovers

• Stefan Avdjiev: US monetary policy, bank capital, and the origination of international leveraged loans

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• Paweł Gąsiorowski: Discussion of "US monetary policy, bank capital, and the origination of international leveraged loans"

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• Tomasz Chmielewski: Cross-border banking and credit (mis)allocation

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• Romain Baeriswyl: Discussion of "Cross-border banking and credit (mis)allocation"

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Session 6: Panel discussion

• Ilkhom Norkulov: External sector dynamics and challenges to the monetary policy in Uzbekistan

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• Signe Krogstrup: Panel session remarks

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Conference venue

Restaurant Metropol, Zurich

Organising committee

• Pınar Yeşin (Swiss National Bank)
• Nasiba Imaralieva (Swiss National Bank)
• Angela Tendero (Swiss National Bank)
• Milena Kyburz (Swiss National Bank)

Conference office

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