By Darrell Duffie, Thierry Foucault, Laura Veldkamp, Xavier Vives The digitalisation of financial services presents formidable tests for incumbent financial intermediaries, firms, exchanges and regulators. The fourth report in the series on The Future of Banking examines the growing impact of technology on financial markets and institutions and identifies the key challenges in payment systems, the use[…]
Key takeaways Two powerful forces – the Covid-19 pandemic and the Russian invasion of Ukraine – shaped economic outcomes over the past year. Growth was resilient, at least until the outbreak of the Russia-Ukraine conflict. Inflation rose to multi-decade highs against a backdrop of persistently goods-intensive demand and constrained supply. Stagflation risks loom large, owing[…]
Key takeaways A burst of creative innovation is under way in money and payments, opening up vistas of a future digital monetary system that adapts continuously to serve the public interest. Structural flaws make the crypto universe unsuitable as the basis for a monetary system: it lacks a stable nominal anchor, while limits to its[…]
The creation of the Banking Union in 2014 was a powerful response to the financial crisis, with significant progress on an EU single rulebook, on the establishment of a new European architecture for supervision and resolution, and on reducing risks. This has contributed to making Europe’s banks more robust and businesses, investors and citizens more confident[…]
By Itai Agur, Xavier Lavayssière and Germán Villegas Bauer Environmentally conscious design can make a major difference in the energy efficiency of digital currencies. Most of the world’s central banks have already agreed they should help fight climate change, a critical challenge that necessitates reductions in both energy consumption, which is our focus here, and the carbon emissions associated with[…]
CfP Deadline Date: September 12, 2022 Conference Event: December 8-9, 2022 Event Location: Auckland, New Zealand and virtual Keynote speaker(s): Nicholas C. Barberis (Yale School of Management) Jonathan Brogaard (University of Utah) Organizer(s): Auckland University of Technology The Auckland Centre for Financial Research at the Faculty of Business, Economics and Law, Auckland University of Technology,[…]
CfP Deadline Date: August 31, 2022 Conference Event: December 14-16, 2022 Event Location: Sydney, Australia Organizer(s): The Journal of Financial Stability The Journal of Financial Stability is pleased to announce a Special Issue on the economic implications of novel financial technologies (FinTech) with a particular focus on issues related to Central Bank Digital Currencies. EDITORS:[…]
CfP Deadline Date: September 1, 2022 Conference Event: March 1-2, 2023 Event Location: Santiago, Chile Organizer(s): National Bureau of Economic Research (NBER) and the Central Bank of Chile (Banco Central de Chile, BCC) The late 20th and early 21st century experienced increasing international integration of trade and global finance, with growing interlinkages between the two. […]
by Claudia Buch Speech by Prof Claudia Buch, Vice-President of the Deutsche Bundesbank, at the Centre for Economic Policy Research (CEPR) Symposium “Panel on systemic risk: Where is the next financial crisis coming from?” Link: Financial stability implications of the current geopolitical situation
CfP Deadline Date: July 1, 2022 Conference Event: December 13-14, 2022 Event Location: Tel Aviv, Israel Organizer(s): Tel Aviv University The School of Management at Tel Aviv University is organizing the 11th TAU Finance Conference designed to bring together leading scholars in the field. The conference will be held in Tel Aviv on Tuesday afternoon,[…]