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 0.50
Lombard rate 1.00
Deposit rate 0.00
Rediscount rate 0.51
Discount rate 0.52

Exchange rates

Table of 2021-10-25
1 EUR4.6018
1 USD3.9502
1 CHF4.3054
1 GBP5.4395
100 JPY3.4771

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
ePUAP:/NBP/SkrytkaESP
NIP: 525-000-81-98
REGON: 000002223
SWIFT: NBPL PLPW
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