Conference programme 2019

2nd RCEA Warsaw Money-Macro-Finance Conference

University of Warsaw, Długa 44/50,

Building A, room A008


FRIDAY, 10.05.2019

8:30-8:50       Registration

8:50-9:00       Welcome

Joanna Siwinska – Gorzelak, Director, RCEA-Poland     Jerzy (Jurek) Konieczny, Director, RCEA (Rimini Centre for Economic Analysis, Canada)

9:00-10:30     Session 1: MACROPRUDENTIAL POLICIES

Ivy Sabuga (University of London, UK and Central Bank of the Philippines)

Leverage Ratio and Reserve Ratio: Do These Macroprudential Policies Work?


Roy Zilberman (Lancaster University, UK)

Macroprudential Interventions in Liquidity Traps


Łukasz Kwiatkowski, Justyna Wróblewska (Cracow University of Economics, Poland)

Identification of shocks in a small monetary policy Bayesian SVAR model with Markov switching heteroskedasticity; the case of Poland

10:30-10:45    Coffee break




Łukasz Goczek, (Faculty of Economic Sciences, University of Warsaw, Poland)

Spillover effects of the unconventional monetary policy of the European Central Bank


Michał Brzoza-Brzezina (National Bank of Poland), Marcin Bielecki (National Bank of Poland and Faculty of Economic Sciences, University of Warsaw), Marcin Kolasa (National Bank of Poland & Warsaw School of Economics, Poland)

Distributional consequences of conventional and unconventional monetary policy


Ishak Demir (University of Lincoln, UK)

Heterogeneity of the effects of unconventional monetary policy on yield curves in the euro area


12:15-13:15    Lunch


13:15-14:15    PLENARY LECTURE


Florencio López de Silanes (SKEMA Business School, France)

Human Capital and Growth; What have we learnt? What is missing?


14:15-16:00    Session 3: GROWTH & INNOVATION


Piotr Wójcik, (Faculty of Economic Sciences, University of Warsaw, Poland)

I just ran one LASSO regression


Jakub Growiec, (Warsaw School of Economics, Poland)

The Hardware-Software Model: A New Conceptual Framework of Production, R&D, and Growth with AI


Francois Derrien (HEC Paris, France)

Labor force demographics and corporate innovation


Barbara Liberda and Marek Pęczkowski (Faculty of Economic Sciences, University of Warsaw, Poland)

The effects of quasi-universal child benefit on household saving


16.00-16.10    Coffee break



Dimitrios Bakas    (Nottingham Trent University, UK and RCEA, Canada)

Commodity Price Uncertainty and International Trade


Andrzej Cieślik , (Faculty of Economic Sciences, University of Warsaw, Poland)

Should Poland adopt the euro?


Marek Dąbrowski, Justyna Wróblewska (Cracow University of Economics, Poland)

Insulating property of the flexible exchange rate regime: A case of central and Eastern European Countries


18.30-21:30    DINNER at San Antonio Restaurant


 SATURDAY, 11.05.2019


9.00-10.30     Session 5: TOPICS IN MACROECONOMICS


Alejandro Rivera (University of Texas at Dallas, USA)

Capacity Expansion Options and Optimal Performance-Sensitive Debt


Alexandra Mitschke & Thomas Gries (Paderborn University, Germany)

Systemic Risk from Interbank Credit Markets? A Contribution to a Resilient Financial System


Sergey Mitsek      (Liberal Arts University in Yekaterinburg, Russia)

Econometric model of Russian Federation: the forecast of main macroeconomic variables


10.30-10.45    Coffee break


10.45-12:15    Session 6: FISCAL POLICY

Jan Fidrmuc (Brunel University, UK, Charles University, Chechia, RCEA, Canada and CESifo, Germany), Sugata Ghosh (Brunel University, UK), Panagiotis Konstantinou (Athens University of Economics and Business, Greece) and Weonho Yang (Ministry of Strategy and Finance, South Korea)

The Effects of Government Spending: Evidence from Systematic Responses to Natural Disasters and Government Spending Shocks


Andrea Zaghini (European Central Bank)

It’s not time to make a change: Sovereign fragility and the corporate credit risk


Jakub Rybacki (Warsaw School of Economics, Poland)

Fiscal deficit forecasts by international institutions: Evidence for the double standard?


12:15-13:15    LUNCH

13:15-14:15    PLENARY LECTURE

Richard Baillie (Michigan State University, USA and RCEA, Canada)

Long Memory, Realized Volatility and Heterogeneous Autoregressive Models


14:15-15:45    Session 7: MONETARY POLICY

Jacek Suda (National Bank of Poland)

Incomplete credit markets and monetary policy


Dora Xia (Bank for International Settlements, Switzerland)

Explaining Monetary Spillovers: The Matrix Reloaded


David M. Arseneau (Federal Reserve Board of Governors, USA)

Central Bank Transparency with a Financial Stability Objective


15:45 -16:00  Coffee break


16:00-18:00    Session 8: FIRMS, BANKS & FINANCIAL CONSTRAINTS

Alejandro Rivera (University of Texas at Dallas, USA)

Extrapolation Bias and Dynamic Liquidity Management

Lucas Avezum (Tilburg University, the Netherlands)

The Impact of Bank Regulation on Firms &Capital Structure: Evidence from Multinationals


Svatopluk Kapounek (Mendel University, Slovakia)

Risks and Financial Vulnerability of Foreign Bank Ownership in CEECs: Evidence from Exchange Rate Depreciation after the Financial Crisis


Paul Owusu Takyi (National Graduate Institute for Policy Studies, Japan)

Monetary Policy and Financial exclusion in an Estimated DSGE Model of Sub-Saharan African Economies