Narodowy Bank Polski

Workshop

3rd NBP Summer Workshop

30 June-4 July 2014

Programme

Monday, 30 June 2014
Chair: Jan Werner, University of Minnesota
09:00 – 09:30 Welcome Coffee
09:30 – 09:35 Welcome address: Andrzej Sławiński, Narodowy Bank Polski and Warsaw School of Economics
09:35 – 09:40 Opening Remarks: Jan Werner, University of Minnesota
09:40 – 10:55 The Dynamics of Sovereign Debt Crises and Bailouts
Keynote Speaker: Harald Uhlig, University of Chicago
Co-author: F. Roch
10:55 – 11:10 Coffee break
11:10 – 12:25 A Macro-Finance View on Government Debt and Growth
Bjorn Ohl, Narodowy Bank Polski
12:25 – 13:10 Lunch
13:10 – 14:25 The Unintended Consequences of the Zero-Bound Policy
Marcin Kacperczyk, , Imperial College London
Co-author: M. Di Magio
Tuesday, 1 July 2014
Chair: Marcin Kolasa, Narodowy Bank Polski and Warsaw School of Economics
09:00 – 09:30 Welcome Coffee
09:30 – 10:45 Granger-Causal-Priority and Choice of Variables in Vector Autoregressions
Marek Jarociński, European Central Bank
Co-author: B. Mackowiak
10:45 – 11:00 Coffee break
11:00 – 12:15 Towards Understanding the Normalization in Structural VAR Models
Andrzej Kocięcki, Narodowy Bank Polski
12:15 – 13:00 Lunch
13:00 – 14:15 On Prepayment & Rollover Risk in the U.S. Credit Card Market
A Lesson From the Financial Crisis of 2007-08

Łukasz Drozd, University of Pennsylvania
Co-author: R. Serrano-Padia
Wednesday, 2 July 2014
Chair: Michał Brzoza-Brzezina, Narodowy Bank Polski and Warsaw School of Economics
09:00 – 09:30 Welcome Coffee
09:30 – 10:45 Grin and Bear It: Producer-fi nanced Exports from an Emerging Market [presentation]
Beata Smarzynska Javorcik, University of Oxford
Co-author: B. Demir
10:45 – 11:00 Coffee break
11:00 – 12:15 Endogenous Labor Income Cycles: Theory and Evidence
Jakub Growiec, Narodowy Bank Polski and Warsaw School of Economics
Co-authors: P. McAdam and J. Mućk
12:15 – 13:00 Lunch
13:00 – 14:15 Bankruptcy, Delinquency and Debt after the 2005 Bankruptcy Law
Jaromir Nosal, Columbia University
Co-author: S. Albanesi
Thursday, 3 July 2014
Chair: Krzysztof Makarski, Narodowy Bank Polski and Warsaw School of Economics
09:00 – 09:30 Welcome Coffee
09:30 – 10:45 Optimal Policy Under Swings in Risk Appetite
Pawel Zabczyk, Bank of England Co-author: : B. De Paoli
10:45 – 11:00 Coffee break
11:00 – 12:15 Monetary and Macroprudential Policy with Multiperiod Loans
Marcin Kolasa, Narodowy Bank Polski and Warsaw School of Economics
Co-author: M. Brzoza-Brzezina and P. Gelain
12:15 – 13:00 Lunch
13:00 – 14:15 Capital Controls: the Case for International Policy Cooperation
Anna Lipińska, Federal Reserve Board
Co-author: B. De Paoli
Friday, 4 July 2014
Chair: Łukasz Drozd, University of Pennsylvania
09:00 – 09:30 Welcome Coffee
09:30 – 10:45 Optimal investment taxes and efficient market provision of liquidity
in the Diamond-Dybvig model

Borys Grochulski, Federal Reserve Bank of Richmond
Co-author: Y. Zhang
10:45 – 11:00 Coffee break
11:00 – 12:15 International Transmission of Liquidity Shocks Between Parent Banks and Their Affiliates: The case of Polish banking sector
Małgorzata Pawłowska, Narodowy Bank Polski and Warsaw School of Economics
Co-author: D. Serwa and S. Zajączkowski
12:15 – 13:00 Lunch
13:00 – 14:15 Speculative Trade under Ambiguity
Jan Werner, University of Minnesota
14:15 – 14:25 Closing Remarks: Michał Brzoza-Brzezina, Narodowy Bank Polski and Warsaw School of Economics

NBP interest rates

Reference rate 1.50
Lombard rate 2.50
Deposit rate 0.50
Rediscount rate 1.75

Exchange rates

Table of 2019-12-13
1 EUR4.2747
1 USD3.8234
1 CHF3.8919
1 GBP5.1292
100 JPY3.4871

Economic outlook

Monthly data

Quarterly data

Financial markets

Numismatics

Contact

Narodowy Bank Polski
Świętokrzyska 11/21
00-919 Warszawa
Poland

tel.:
+48 22 185 10 00
e-mail: listy@nbp.pl
NIP: 525-000-81-98
REGON: 000002223
SWIFT: NBPL PLPW
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