CfP Deadline:
July 31, 2026
Conference Event:
October 6, 2026
Event Location:
Copenhagen, Denmark
Organizer(s):
Renato Faccini (Danmarks Nationalbank)
Giancarlo Corsetti (European University Institute and CEPR)
Description:
Danmarks Nationalbank invites submissions to a one-day conference on the balance-sheet dimensions, drivers and implications of international capital flows. The conference will bring together academic and policy perspectives on how capital flows respond to shocks, policy announcements, and changing financial conditions, and how these responses depend on balance-sheet exposures, liquidity, and currency risk.
A central aim of the conference is to introduce a new Danish dataset on capital flows and balance sheets and to stimulate research using Danish microdata. The programme will include a session presenting the dataset and discussing research opportunities.
The conference features an invited academic panel including Giancarlo Corsetti (European University Institute and CEPR), Linda Goldberg (Federal Reserve Bank of New York and CEPR), and Harald Hau (University of Geneva and CEPR), presentations of selected submitted papers, and a concluding policy panel featuring Signe Krogstrup (Danmarks Nationalbank and CEPR), Anna Seim (Sveriges Riksbank), and Ida Wolden Bache (Norges Bank).
New Danish data
The new data infrastructure combines:
- high-frequency transaction-level data on money-market and FX-related trades reported by the largest Danish banks (from 2023 onward), including detailed timestamps and contract terms; and
- monthly firm-level net cross-border transactions by Danish entities vis-à-vis domestic and foreign counterparties (from 2015 onward).
These data can be linked through counterparty identifiers and connected to Danish administrative registers, enabling analysis at the sector, firm, and position level, including currency-specific net flows and balance-sheet linkages.
We welcome theoretical and empirical contributions, including (non-exhaustively):
- Stress episodes, liquidity, and funding risk in international markets
- Balance-sheet exposures (currency/maturity mismatch, leverage) and capital-flow dynamics
- Geopolitical shocks and fragmentation
- Intermediaries’ role (banks, dealers, NBFIs) in cross-border flows and transmission
- FX hedging and swap markets; links between hedging demand and flows
- High-frequency event studies of monetary/fiscal/macroprudential announcements
- Global risk sentiment and the allocation of cross-border portfolios
- Capital flows, exchange rates, term premia, and asset-price dynamics
Submission:
Papers for submission should be sent to capitalflows@nationalbanken.dk by 31 July 2026. Authors of accepted papers will be notified by 8 August 2026.
Link(s):
Balance Sheet Dimensions, Drivers and Implications of Capital Flow