## $name _IMF Seminars, January 1, 1901_ ## Source details **Canonical URL:** [$name](https://www.imf.org/zh/news/seminars/conferences/2016/12/31/interconnectedness-building-bridges-between-research-and-policy) ## Other formats - [Markdown version](/zh/news/seminars/conferences/2016/12/31/interconnectedness-building-bridges-between-research-and-policy/index.md) - [Structured JSON version](/zh/news/seminars/conferences/2016/12/31/interconnectedness-building-bridges-between-research-and-policy/index.json) - [Bundle manifest](/zh/news/seminars/conferences/2016/12/31/interconnectedness-building-bridges-between-research-and-policy/bundle-manifest.json) ## Bibliographic details - Published: January 1, 1901 --- ### Overview and purpose - The International Monetary Fund (IMF), in collaboration with the Institute for New Economic Thinking (INET) and the Deutsche Bundesbank, hosted a two-day conference on financial networks at the IMF’s Headquarters in Washington, D.C. on May 8-9, 2014. - Objective: provide a forum for information-sharing and coordination between academics and policymakers to strengthen resilience to spillovers and identify areas where more research is needed to support policy. - Rationale: The global financial crisis highlighted the need to better understand financial interconnectedness — direct and indirect exposures across asset markets and players — as a source of systemic risk and macroeconomic instability. - Emphasis: interconnectedness beyond interbank exposures, including securities and state-contingent exposures, and how failures or distress can create domestic and cross-border negative spillovers. ### Timing, attendance, and logistics - Dates and times: - Conference start: Thursday, May 8 at 9:00 a.m. - Conference conclusion: Friday, May 9 at 2:00 p.m., ending with a high-level panel discussion followed by lunch. - Venue: IMF HQ2 Conference Hall 1, Washington, D.C. - Attendance: by invitation only; interested parties were instructed to email interconconf@imf.org, with note that capacity constraints meant not all requests could be accommodated. - Security requirement: invited attendees were required to present photo identification to enter the IMF at 1900 Pennsylvania Avenue, N.W., Washington D.C. ### Thematic sessions and research agenda - Conference theme: implications of financial interconnectedness for systemic risk and financial stability, and links between network research and policy tools. - Key session topics and selected papers/authors: - Interbank and OTC market networks: - "Trading Partners in the Interbank Lending Market" — Gara Afonso (NY Fed), Anna Kovner* (NY Fed), Antoinette Schoar (MIT); Discussant: Peter Hoffmann (ECB). - "A Network View on Interbank Liquidity" — Silvia Gabrieli (Banque de France) and Co-Pierre Georg* (Deutsche Bundesbank); Discussant: Robin Lumsdaine (American University). - "EffIciency and Stability of a Financial Architecture with Too-Interconnected-to-Fail Institutions" — Michael Gofman* (Wisconsin); Discussant: Mila Gemansky Sherman (UMass Amherst). - Welfare and contagion in networks: - "Mandatory Disclosure and Financial Contagion" — Fernando Alvarez (Chicago) and Gadi Barlevy* (Chicago Fed); Discussant: Tariq Roukny (Université Libre de Bruxelles). - "Intermediation in Networks" — Mihai Manea* (MIT); Discussant: Fernando Vega-Redondo (Bocconi). - "Bilateral Trading in Networks" — Daniele Condorelli* (Essex) and Andrea Galeotti (Essex); Discussant: Ben Craig (Deutsche Bundesbank). - Systemic risk and contagion analysis: - "Intermediation and Voluntary Exposure to Counterparty Risk" — Maryam Farboodi* (Chicago Booth); Discussant: Livio Stracca (ECB). - "Financial Networks and Contagion" — Matthew Elliott (Caltech), Benjamin Golub* (Harvard), Matthew O. Jackson (Stanford); Discussant: Benjamin Tabak (Universidade Catolica de Brasilia and Federal Senate). - "How Likely is Contagion in Financial Networks?" — Paul Glasserman (Columbia), H. Peyton Young* (Oxford); Discussant: Brenda González-Hermosillo (IMF, Monetary and Capital Markets Department). - Policy-focused sessions: - "Addressing Interconnectedness: Concepts and Prudential Tools" — Nicolas Arregui, Mohamed Norat, Antonio Pancorbo, Jodi Scarlata (IMF); Presenter: Mohamed Norat (IMF, Monetary and Capital Markets Department). - "Sweden and the Global Banking System: Network Links and Vulnerabilities" — Presenter: Eugenio Cerutti (IMF, Research Department). - "Crisis Transmission in the Global Banking Network" — Galina Hale (San Francisco Fed), Tümer Kapan (Fannie Mae), Camelia Minoiu (IMF, Research Department); Presenter: Camelia Minoiu (IMF, Research Department). - Forward-looking synthesis: - "The Present and Future Role of Financial Networks" — Stefano Battiston (University of Zürich), Co-Pierre Georg (Deutsche Bundesbank), Joseph E. Stiglitz (Columbia University and INET); Presenter: Stefano Battiston (University of Zürich). ### High-level contributions and panels - Opening remarks by Olivier Blanchard (Economic Counsellor and Director, Research Department, IMF). - Keynote: Joseph E. Stiglitz (Columbia University and INET) on "Interconnectedness and Financial Stability". - Closing panel chaired by José Viñals (Financial Counselor and Director, IMF, Monetary and Capital Markets Department) with panelists: - Claudia Buch (Halle Institute for Economic Research) - Sujit Kapadia (Bank of England) - Nellie Liang (Board of Governors of the Federal Reserve System) - Patricia Mosser (Office of Financial Research) - Sanjay Sharma (RBC Capital Markets) ### Conference organization and contributors - Conference organizers: - Stefano Battiston (University of Zürich) - Co-Pierre Georg (Deutsche Bundesbank) - Brenda Gonzalez-Hermosillo (IMF) - Camelia Minoiu (IMF) --- ## Content in this bundle - [Agendapdf (PDF)](/-/media/websites/imf/imported-events/external/np/seminars/eng/2014/interconnect/pdf/_agendapdf.pdf){rel="external" type="application/pdf"} - [Barlevypdf (PDF)](/-/media/websites/imf/imported-events/external/np/seminars/eng/2014/interconnect/pdf/_barlevypdf.pdf){rel="external" type="application/pdf"} - [Farboodipdf (PDF)](/-/media/websites/imf/imported-events/external/np/seminars/eng/2014/interconnect/pdf/_farboodipdf.pdf){rel="external" type="application/pdf"} - [Gofmanpdf (PDF)](/-/media/websites/imf/imported-events/external/np/seminars/eng/2014/interconnect/pdf/_gofmanpdf.pdf){rel="external" type="application/pdf"} - [Swedenpdf (PDF)](/-/media/websites/imf/imported-events/external/np/seminars/eng/2014/interconnect/pdf/_swedenpdf.pdf){rel="external" type="application/pdf"} - [Indexpdf (PDF)](/-/media/websites/imf/imported-events/external/pubs/ft/irb/2014/01/_indexpdf.pdf){rel="external" type="application/pdf"} - [Wp13199pdf (PDF)](/-/media/websites/imf/imported-events/external/pubs/ft/wp/2013/_wp13199pdf.pdf){rel="external" type="application/pdf"} --- _Source: https://www.imf.org/zh/news/seminars/conferences/2016/12/31/interconnectedness-building-bridges-between-research-and-policy_