44 sessions, 133 papers

42nd Annual Conference of the MONEY, MACRO AND FINANCE RESEARCH GROUP
Complete List of All Sessions

  

Session 1: Money and finance in Asian economies
Session type: contributed
Date: September 1, 2010
Time: 9:30 - 11:00
Location: LEMESOS
The role of bond finance in firms' survival during the Asian crisis
JEL codes: F32, F34, G15
By Marina-Eliza Spaliara; Loughborough University Serafeim Tsoukas; University of Nottingham
Presented by: Marina-Eliza Spaliara, University of Loughborough
Measuring the Monetary Policy Stance of the People’s Bank of China: an Ordered Probit Analysis.
By Weibo Xiong; Heriot-Watt University
Presented by: Weibo Xiong, Heriot-Watt University

  

Session 2: Portfolio choice
Session type: contributed
Date: September 1, 2010
Time: 9:30 - 11:00
Location: Kyrenia
Pairs Trading in the UK Equity Market
By David Bowen; University College of Cork Mark Hutchinson; University College of Cork Niall O'Sullivan; University College of Cork
Presented by: David Bowen, University College Cork
Beliefs shock and the macroeconomy
By Jacek Suda; Banque de France - Paris School of Economics
Presented by: Jacek Suda, Banque de France - Paris School of Economics

  

Session 3: Banking Risk
Session type: contributed
Date: September 1, 2010
Time: 9:30 - 11:00
Location: Ammochostos
Predicting Financial Distress in a High-Stress Financial World
JEL codes: G21; G28
By Jerome Jerome; Banque de France Adrian Pop; University of Nantes Muriel Tiesset; Banque de France
Presented by: Jerome Coffinet, Banque de France
Information sharing and cross-border entry in European banking
By Caterina Giannetti; GSBC Jena, University of Siena Nicola Jentzsch; DIW Berlin, Technische Universität Berlin Giancarlo Spagnolo; 3University of Tor Vergata, SITE Stockholm, EIEF
Presented by: Caterina Giannetti, GSBC Jena

  

Session 4: Money, output and inflation
Session type: contributed
Date: September 1, 2010
Time: 9:30 - 11:00
Location: LEFKOSIA
Imperfectly-Credible Disinflation of Small Inflations
JEL codes: E20, E32, F32
By Lynne Evans; Newcastle University Anamaria Nicolae; Durham University
Presented by: Anamaria Nicolae, University of Durham
Optimal Monetary Policy with Durable Consumption Goods and Factor Demand Linkages
By Ivan Petrella, Catholic University of Leuven Emiliano Santoro University of Copenhagen
Presented by: Ivan Petrella, Faculty of Business & Economics
When money matters
By Marcus Miller; University of Warwick John Driffill; Birkbeck College
Presented by: Marcus Miller, University of Warwick

  

Session 5: Bond markets
Session type: contributed
Date: September 1, 2010
Time: 9:30 - 11:00
Location: LARNACA
Long-run Behaviour of Long-term Sovereign Bond Yields
JEL codes: C23, E43, E62
By António Afonso, ECB and ISEG/UTL Christophe Rault, University of Orléans
Presented by: Antonio Afonso, ECB
The UK Economy and the Term Sructure of Interest Rates
By Peter Spencer University of York
Presented by: Peter Spencer, University of York
nformation Content of Order Flow and Cross-market Portfolio Rebalancing: Evidence for the Chinese Stock, Treasury and Corporate Bond Markets
By Eric GIRARDIN; GREQAM, University Aix-Marseille, France ; Dijun TAN; UESTC, Chengdu, China; Woon T. WONG; Bristol University, UK;
Presented by: Eric Girardin, GREQAM, Université de la Méditerranée

  

Session 6: Central banks and quantitative easing
Session type: contributed
Date: September 1, 2010
Time: 9:30 - 11:00
Location: PAPHOS
Liquidity, Bank Credit and Money
JEL codes: E50,E58
By Alistair Milne; Cass Business School, City University London and Monetary Policy and Research Department, Bank of Finland
Presented by: Alistair Milne, Cass Business School
Central Bank Forecast Transparency, Incentives, and Inflation Targets
By Georgios E. Chortareas; University of Athens and Kalliopi-Maria Zekente; University of Athens
Presented by: George Chortareas,
New Evidence on the Effectiveness of 'Quantitative Easing' in Japan
By Konstantinos Voutsinas; University of Southampton Richard Werner; University of Southampton
Presented by: Richard Werner, University of Southampton

  

Session 7: Keynote address by Marcus Miller
Session Chair: Peter Smith, UNIVERSITY OF YORK
Session type: invited
Date: September 1, 2010
Time: 11:30 - 12:30
Location: Pefkios

  

Session 8: Time series econometrics
Session type: contributed
Date: September 1, 2010
Time: 13:30 - 15:30
Location: Lemesos
Fractional pair-wise convergence
By Giovanni Caggiano, University of Padua Leone Leonida, Queen Mary University of London
Presented by: Giovanni Caggiano, University of Padua
A bayesian panel data unit root test: re-examining the economic convergence hypothesis
By Meligkotsidou Loukia ; University of AThens Tzavalis Elias; Athens University of Economics & Business Vrontos Ioannis; Athens University of Economics & Business
Presented by: Elias Tzavalis, Athens University of Economics @ Busine

  

Session 9: Money and inflation
Session type: contributed
Date: September 1, 2010
Time: 13:30 - 15:30
Location: Lefkosia
Sectoral Money Demand and the Great Disinflation in the US
JEL codes: E31; E41
By Alesssandro Calza; European Central Bank Andrea Zaghini; Banca 'Italia
Presented by: Andrea Zaghini, bank of Italy
On the importance of sectoral shocks for price-setting
By Guenter W. Beck; University of Mainz and CFS Kirstin Hubrich; European Central Bank Massimiliano Marcellino; European University Institute and CEPR
Presented by: Guenter Beck, Goethe University Frankfurt
Testing the Asymmetry of the New Keynesian Phillips Curve: Evidence from the Euro Area
By Georgios Chortareas; University of Athens George Magonis; University of Athens Theodore Panagiotidis; University of Macedonia
Presented by: George Magonis, University of Athens
Aggregate Evidence of Nominal Rigidities and the Inflation-Output Trade-Off: The Relationship between the Income Share of Labor and the Rate of Inflation
By Christian Jensen, Moore School of Business, U. of South Carolina
Presented by: Christian Jensen, Moore School of Business, University of South Carolina

  

Session 10: Fiscal policy
Session type: contributed
Date: September 1, 2010
Time: 13:30 - 15:30
Location: Larnaca
Fiscal Policy, Governance, and Growth
JEL codes: O23, O43, E62
By Leonor Coutinho;University of Cyprus and Europrism Research Luc De Wulf;Center for Social and Economic Research (CASE) Santiago Florez;World Bank Cyrus Sassanpour;Center for Social and Economic Research (CASE)
Presented by: Leonor Coutinho, University of Cyprus
Political Budget Cycles in the European Union and the Impact of Political Pressures: A dynamic panel regression analysis
[slides]
By Georgios Efthyvoulou; Birkbeck, University of London
Presented by: Georgios Efthyvoulou, Birkbeck College, University of London
The Effectiveness of Government Expenditures During Crisis: Evidence from Regional Government Spending in Japan 1990-2000
By Markus Bruckner; Universitat Pompeu Fabra Anita Tuladhar; IMF
Presented by: Markus Bruckner, Universitat Pompeu Fabra
Fiscal Risk in a Monetary Union
By Betty C. Daniel; University at Albany -SUNY Christos Shiamptanis; Central Bank of Cyprus
Presented by: Christos Shiamptanis, Central Bank of Cyprus

  

Session 11: Consumption and saving
Session Chair: Peter Smith, UNIVERSITY OF YORK
Session type: contributed
Date: September 1, 2010
Time: 13:30 - 15:30
Location: Paphos
The effect of a cut in the interest rate on consumption and saving
JEL codes: D91; E21; D12
By Erlend Eide Bø; Statistics Norway Elin Halvorsen; Statistics Norway
Presented by: Elin Halvorsen, Statistics Norway
Saving For Retirement And Retirement Investment Choices
By Monica Paiella; University of Naples “Parthenope”, Department of Economic Studies Andrea Tiseno; Bank of Italy, Research Department
Presented by: Andrea Tiseno, Banca d'Italia
Durable Consumption, Long-Run Risk and The Equity Premium
By Na Guo; University of York Peter N Smith; University of York
Presented by: Peter Smith, UNIVERSITY OF YORK

  

Session 12: Emerging markets
Session Chair: Maria Matsi, University of Cyprus
Session type: contributed
Date: September 1, 2010
Time: 13:30 - 15:30
Location: Kyrenia
Characterizing the Business Cycles of Emerging Economies
JEL codes: E32, F41
By Cesar Calderon; World Bank J. Rodrigo Fuentes; Pontificia Universidad Católica de Chile
Presented by: Rodrigo Fuentes, Pontificia Universidad Católica de Chile
On inflation, wealth inequality and welfare in emerging economies
By Enes Sunel; University of Maryland, College Park, Department of Economics
Presented by: Enes Sunel, University of Maryland
What Effect Has Bond Market Development in Emerging Asia Had on the Issuance of Corporate Bonds?
By Paul Mizen; University of Nottingham Serafeim Tsoukas; University of Nottingham
Presented by: Serafeim Tsoukas, University of Nottingham
Stock Market and Foreign Exchange Volatility in Emerging Economies
By Elena Andreou; University of Cyprus Maria Matsi; University of Cyprus Andreas Savvides; Cyprus University of Technology
Presented by: Maria Matsi, University of Cyprus

  

Session 13: Economic growth I
Session Chair: Kyriakos Neanidis, University of Manchester
Session type: contributed
Date: September 1, 2010
Time: 13:30 - 15:30
Location: Ammochostos
Growth, Cycles, and Environmental Preservation
JEL codes: O41; Q56
By Theodore Palivos; University of Macedonia Dimitrios Varvarigos;University of Leicester
Presented by: Dimitrios Varvarigos, University of Leicester
ADOPTION TECHNOLOGY TARGETS AND KNOWLEDGE DYNAMICS: CONSEQUENCES FOR LONG-RUN PROSPECTS
By Mies, Verónica; P. Universidad Católica de Chile
Presented by: Verónica Mies, P. Universidad Católica de Chile
Innovation, Public Capital, and Growth
By Pierre-Richard Agénor; University of Manchester Kyriakos C. Neanidis; University of Manchester
Presented by: Kyriakos Neanidis, University of Manchester

  

Session 14: Investment and Pensions
Session type: contributed
Date: September 1, 2010
Time: 13:30 - 15:30
Location: Pefkios
Are investors prudent? An empirical analysis of the risk-return trade-off using intraday data
JEL codes: G20; C22
By Benoît Sévi ; London Business School
Presented by: Benoît Sévi, London Business School
Pensions in Spain: A Reform that Backfires
By Javier Díaz-Giménez - IESE (Spain) Julián Díaz-Saavedra - Universidad de Granada (Spain)
Presented by: Julián Díaz Saavedra, Universidad de Granada
Momentum or Contrarian Investment Strategies: Evidence from Dutch institutional investors
By Leo de Haan; De Nederlandsche Bank Jan Kakes; De Nederlandsche Bank
Presented by: Leo de Haan, De Nederlandsche Bank
Are There Any Spillovers between Household and Firm Financing Frictions? A Dynamic General Equilibrium Analysis
By Daniel Solomon, University of Montreal and CIREQ
Presented by: daniel solomon, universite de montreal

  

Session 15: Special JAE session on Applied Econometrics
Hashem Pesaran: Supply, Demand and Monetary Policy Shocks in a Multi-Country New Keynesian Model Elias Tzavalis: Non-linear models of monetary policy rules Badi Baltagi: Spatial panels
Session type: invited
Date: September 1, 2010
Time: 16:00 - 17:30
Location: Pefkios

  

Session 16: Middle East economies
Session type: contributed
Date: September 1, 2010
Time: 16:00 - 17:30
Location: Lefkosia
A macroeconomic narrative for the Palestinian economy, 1995-2008
JEL codes: E50, E60, E65,
By David Cobham; Heriot-Watt University
Presented by: David Cobham, Heriot-Watt University
Assessing inflation and output variability using a New Keynesian model: an application to Egypt
By Rania Al-Mashat; Central Bank of Egypt
Presented by: David Cobham, Heriot-Watt University
Do growth determinants differ between countries in the MENA region?
By Yacine Belarbi; CREAD, University of Bouzareah, Algeria Abdallah Zouache; GATE Lyon St Etienne
Presented by: Abdallah ZOUACHE, UMR CNRS 5824, Gate Lyon-St-Etienne

  

Session 17: Stock markets
Session type: contributed
Date: September 2, 2010
Time: 9:00 - 11:00
Location: Lefkosia
On monetary policy and stock market anomalies
JEL codes: E44, E58, G12
By Alexandros Kontonikas; University of Glasgow Alexandros Kostakis; University of Glasgow
Presented by: Alexandros Kontonikas, University of Glasgow
Monetary Policy and Return Volatility in Equity Markets: The Case of Japan
By Ming-Jen Chang; National Dong Hwa University
Presented by: MING-JEN CHANG, National Dong Hwa University
Asset returns with earnings management
By Bo Sun; Federal Reserve Board
Presented by: Bo Sun, University of Virginia
Asset Pricing in the Presence of Background Risk
By Andrei Semenov; York University
Presented by: Andrei Semenov, York University

  

Session 18: Economic growth II
Session type: contributed
Date: September 2, 2010
Time: 9:00 - 11:00
Location: Larnaca
A Contribution to the Empirics of Welfare Growth
JEL codes: O50, O11, I0
By Konstantinos Vrachimis ; University of Cyprus Marios Zachariadis ; University of Cyprus
Presented by: Konstantinos Vrachimis, University of Cyprus
Wage bargaining and inter-firm labour mobility: their effects on economic growth through the entry of heterogeneous entrepreneur-firms
By Mark A. Roberts University of Nottingham
Presented by: Mark Roberts, University of Nottingham
Contracting Institutions and Growth
By Alex Trew, University of St Andrews
Presented by: Alex Trew, University of St Andrews
The Optimum Growth Rate for Population under Critical-Level Utilitarianism
By THOMAS I. RENSTRÖM; Durham University LUCA SPATARO; University of Pisa and CHILD
Presented by: Thomas Renstrom, University of Durham and CEPR

  

Session 19: Business cycles
Session type: contributed
Date: September 2, 2010
Time: 9:00 - 11:00
Location: Kyrenia
Sources of Fluctuations in Output and Inflation in the U.S.A between 1960 and 2008: A Sign Restriction Approach
JEL codes: C32,E32,E58
By Charbel Bassil; Cergy Pontoise University
Presented by: Charbel Bassil, University of Cergy Pontoise
Financial innovation and risk: the role of information
By Roberto Piazza; International Monetary Fund
Presented by: Roberto Piazza, University of Minnesota
Business Cycle Implicatons of Banks' Maturity Transformation
By Marcelo Ferman; London School of Economics Martin Andreasen; Bank of England Pawel Zabczyk; Bank of England
Presented by: Pawel Zabczyk, Bank of England

  

Session 20: Unemployment and Macro Models
Session type: contributed
Date: September 2, 2010
Time: 9:00 - 11:00
Location: Ammochostos
Deep Habits and the Cyclical Behaviour of Equilibrium Unemployment and Vacancies
JEL codes: E21;E24;J41;J46
By Federico Di Pace; Birkbeck College Renato Faccini; Bank of England
Presented by: Federico Di Pace, Birkbeck College
Aggregate Shocks, Heterogeneous Private Sector Information, and Stabilization Policy
By Jonathan G. James; Swansea University Phillip Lawler; Swansea University
Presented by: Jonathan James,
A New Keynesian Model with a Cost Channel and Relative Price Effects
By William J. Tayler; The University of Manchester George J. Bratsiotis; The University of Manchester
Presented by: William Tayler, The University of Manchester
Relative Capital Accumulation with Heterogeneous Individuals
By LAURA MARSILIANI; Durham Business School THOMAS I. RENSTRÖM; Durham Business School
Presented by: Laura Marsiliani, University of Durham

  

Session 21: Exchange rates
Session type: contributed
Date: September 2, 2010
Time: 9:00 - 11:00
Location: Pefkios
A new solution to the purchasing power parity puzzles: Risk-aversion, exchange rate uncertainty and the law of one price
JEL codes: F31; F41
By Michael G. Arghyrou; Cardiff Business School Andros Gregoriou; Norwich Business School Panayiotis M. Pourpourides; Cardiff Business School
Presented by: Michael Arghyrou, Cardiff University
Predictability and Good Deals in Currency Markets
[slides]
By Richard Levich Valerio Potì
Presented by: Valerio Poti, Dublin City University Business School
Stock market information and the real exchange rate - real interest rate parity
By Juha Junttila; University of Oulu Marko Korhonen; University of Oulu
Presented by: Juha Junttila, University of Oulu
Do jumps mislead the FX Market?
By Jean-Yves Gnabo - University of Namur Jérôme Lahaye - University of Namur Sébastien Laurent - University of Maastricht Christelle Lecourt - University of Namur
Presented by: Lecourt Christelle, University of Namur

  

Session 22: Monetary Policy
Session type: contributed
Date: September 2, 2010
Time: 9:00 - 11:00
Location: Lemesos
Are Long-Term Inflation Expectations Well-Anchored? Evidence from Euro area’s professional forecasters
JEL codes: E 52; E 31
By Tsvetomira Tsenova; Bulgarian National Bank
Presented by: Tsvetomira Tsenova, Bulgarian National Bank
Prospect Theory and Inflation Perceptions - An Empirical Assessment
By Vogel, Lena; University of Hamburg and ETH Zurich Menz, Jan-Oliver; University of Hamburg Fritsche, Ulrich; University of Hamburg
Presented by: Jan-Oliver Menz, University of Hamburg
Interest rates and bank risk-taking
By Manthos D. Delis; University of Ioannina Georgios P. Kouretas, Athens University of Economics and Business
Presented by: Georgios Kouretas, Athens University of Economics and Business
The Fed's perceived Phillips curve: Evidence from individual FOMC forecasts
By University of Giessen
Presented by: Peter Tillmann, Justus Liebig University Giessen

  

Session 23: Fluctuations and Business Cycles
Session type: contributed
Date: September 2, 2010
Time: 9:00 - 11:00
Location: Paphos
On the role of financial sector shock to aggregate fluctuations
JEL codes: E32, E44, G10
By Hongru Zhang; Cardiff Business School
Presented by: Hongru Zhang, Cardiff University
Oilgopoly: a general equilibrium model of the oil-macroeconomy nexus
By anton nakov; banco de españa galo nuño; banco de españa
Presented by: Galo Nuno, Banco de España
Advertising and Business Cycle Fluctuations
By Benedetto Molinari; Universidad Pablo de Olavide Francesco Turino; Universitat d'Alacant and Università di Bologna
Presented by: Benedetto Molinari, UPF
Trend agnostic one step estimation of DSGE models
By Filippo Ferroni; Banque de France
Presented by: Filippo Ferroni, Banque de France

  

Session 24: The Future of Macroeconomics
Session Chair: John Driffill, Birkbeck, University of London
Session type: invited
Date: September 2, 2010
Time: 11:30 - 12:30
Location: Pefkios

  

Session 25: Banking Risk and Monetary Policy
Session type: contributed
Date: September 2, 2010
Time: 13:30 - 15:30
Location: Lemesos
Balance Sheet Interlinkages and Macro-Financial Risk Analysis in the Euro Area
JEL codes: C22, E01, E21
By Olli Castrén; ECB Ilja Kavonius; ECB
Presented by: Olli Castren, European Central Bank
The Effect of Banking Crises on Human Capital
By Davide Furceri;OECD and University of Palermo. Aleksandra Zdzienicka;GATE-CNRS, University of Lyon
Presented by: Aleksandra Zdzienicka, GATE-CNRS
Monetary Policy and Excessive Bank Risk Taking
By Itai Agur De Nederlandsche Bank Maria Demertzis De Nederlandsche Bank
Presented by: Itai Agur, Dutch Central Bank
Analysis of Monetary Policy Rules:Some Lessons from Risk Management
By Brian Byrne; Dublin Institue of Technology Liam A. Gallagher; Dublin City University
Presented by: Brian Byrne, Dublin Institute of Technology

  

Session 26: Securities markets
Session type: contributed
Date: September 2, 2010
Time: 13:30 - 15:30
Location: Lefkosia
Who needs market makers for illiquid securities? New evidence from the FTSE Aim Index.
JEL codes: G10, G14.
By Andros Gregoriou, University of East Anglia
Presented by: Andros Gregoriou, University of East Anglia
The Price Impact of Economic News, Private Information and Trading Intensity
By Department of Economics Mathematics and Statistics, Birkbeck College,University of London
Presented by: Paola Paiardini, Birkbeck College, University of London
Expected Returns Across Time Scales
By Christophe BOUCHER; A.A.Advisors-QCG (ABN AMRO); Variances and University of Paris-1 (CES/CNRS). Christophe BOUCHER; A.A.Advisors-QCG (ABN AMRO), Variances and University of Paris-1 (CES/CNRS and EIF).
Presented by: Christophe Boucher, Université Paris-1
Futures trading and market microstructure of the underlying security: A high frequency experiment at the single stock future level
By Kate Phylaktis; Cass Business School London Gikas Manalis; Athens Stock Exchange Athens Athens
Presented by: Kate Phylaktis, Cass Business School

  

Session 27: Inflation
Session type: contributed
Date: September 2, 2010
Time: 13:30 - 15:30
Location: Kyrenia
Calvo vs. Rotemberg in a Trend Inflation World: An Empirical Investigation
JEL codes: E31, E52
By Guido Ascari; University of Pavia and IfW Efrem Castelnuovo; University of Padua and Bank of Finland Lorenza Rossi; University of Pavia
Presented by: Guido Ascari, Universita degli Studi di Pavia
Can the Fiscal Theory of the Price Level explain UK inflation in the 1970s?
By Jingwen Fan;Cardiff University Patrick Minford; Cardiff University and CEPR
Presented by: Jingwen Fan, Cardiff University
An estimated DSGE model of energy, costs and inflation in the United Kingdom
By Stephen Millard; Bank of England
Presented by: Stephen Millard, Bank of England

  

Session 28: Financial crises
Session type: contributed
Date: September 2, 2010
Time: 13:30 - 15:30
Location: Larnaca
Quantifying the Distortionary Fiscal Cost of ‘The Bailout’
JEL codes: E21, E62, G12
By Francisco Gomes;LBS Alexander Michaelides;Central bank of Cyprus and LSE Valery Polkovnichenko;UT Dallas
Presented by: Alexander Michaelides, London School of Economics
The Great Recession: US dynamics and spillovers to the world economy
By F.C. Bagliano; University of Torino, Italy C. Morana; University of Piemonte Orientale, Italy
Presented by: Claudio Morana, Universita' del Piemonte Orientale
Central Banking After the Financial Crisis: Taking Account of Quantitative Easing in a DSGE Model
By Richard Anderson; Federal Reserve Bank St Louis Paul Mizen; Nottingham University
Presented by: Richard Anderson, Federal Reserve Bank of St. Louis
Collateralizable Wealth, Asset Returns and Systemic Risk: International Evidence
By Ricardo M. Sousa; University of Minho, NIPE, London School of Economics, and FMG
Presented by: Ricardo Sousa, University of Minho, NIPE, London School of Economics, and FMG

  

Session 29: International financial markets
Session type: contributed
Date: September 2, 2010
Time: 13:30 - 15:30
Location: Paphos
Investor protection and foreign stakeholders
JEL codes: G11; G15; G30
By Maela Giofré; University of Torino and CeRP-CCA
Presented by: Maela Giofré, CeRP-CCA
A study of the causal relationship between soveriegn CDS spreads, risk-free interest rates and exchange rates
By Yang Liu;Departement of Economics,University of Bath Bruce Morley;Departement of Economics,University of Bath John Hudson;Departement of Economics,University of Bath
Presented by: Yang Liu, Bath University

  

Session 30: Monetary Policy Models
Session type: contributed
Date: September 2, 2010
Time: 13:30 - 15:30
Location: TBC
Borrowing Constraints and Monetary Policy: The Inflation Tax-Net Worth Channel
By Tiziana Assenza Catholic University of Milan and CeNDEF, University of Amsterdam Domenico Delli Gatti Catholic University of Milan
Presented by: Tiziana Assenza, Catholic University of Milan
Heterogeneous Expectations, Learning and Monetary Policy Rules in A Two-country Model
By Qinwei Wang; University of Cambridge
Presented by: Qinwei Wang, University of Cambridge
Policy Games with Liquidity Constrained Consumers
By Alice Albonico; University of Pavia (Italy)
Presented by: Alice Albonico, University of Pavia
Asset Prices and Monetary Policy: A New View of the Cost Channel
By Tiziana Assenza Catholic University of Milan and CeNDEF, Univesrity of Amsterdam Michele Berardi University of Manchester Domenico Delli Gatti Catholic University of Milan
Presented by: Domenico Delli Gatti, Universita Cattolica

  

Session 31: European Financial Markets & Insttitutions
Session type: contributed
Date: September 2, 2010
Time: 13:30 - 15:30
Location: Pefkios
Compatibility Between European Securities Settlement Systems: A Spatial Competition Approach
JEL codes: D43, G29, G19,
By Marie-Noëlle Calès; University Lyon 2 Dominique Chabert; University Lyon 2 Walid Hichri; University Lyon 2 Nadège Marchand; University Lyon 2
Presented by: Marie-Noëlle Calès, University Lyon 2
Stress testing French banks' profitability
By Coffinet Jerome; Banque de France Lin Surong; Banque de France Martin Clément; Banque de France
Presented by: surong lin, Commission Bancaire
Volatility Transmission in Central European Foreign Exchange Markets
By Vit Bubak; Charles University in Prague and Université Paris 1 Panthéon-Sorbonne Evzen Kocenda; CERGE-EI, Charles University in Prague and the Academy of Sciences, Prague, Czech Republic Filip Zikes; Imperial College London, Business School
Presented by: Vit Bubak, Université de Paris I. Panthéon-Sorbonne
The portfolio balance effect and reserve diversification: An empirical analysis
By Costas J. Karfakis; University of Macedonia
Presented by: J. Costas Karfakis,

  

Session 32: Forecasting
Session type: contributed
Date: September 2, 2010
Time: 13:30 - 15:30
Location: Kyrenia
An Estimated Boundedly Rational Multi-Country Model with Learning Expectations
By Alistair Dieppe; European Central Bank Alberto González Pandiella; European Central Bank Stephen Hall; National Institute of Economic and Social Research and University of Leicester Alpo Willman; European Central Bank
Presented by: Alistair Dieppe, European Central Bank
Putting the New Keynesian DSGE model to the real-time forecasting test
By Marcin Kolasa; National Bank of Poland and Warsaw School of Economics Michał Rubaszek; National Bank of Poland and Warsaw School of Economics Paweł Skrzypczyński; National Bank of Poland
Presented by: Michal Rubaszek, National Bank of Poland
Time horizons and smoothing in the Bank of England’s reaction function:the contrast between the GMM and ex ante forecast approaches
By David Cobham;Heriot-Watt University Yue Kang;Heriot-Watt University
Presented by: Yue Kang, Heriot-Watt University
Nowcasting, Business Cycle Dating and the Interpretation of New Information when Real Time Data Are Available
By Kevin Lee; University of Leicester Nilss Olekals; University of Melbourne Kalvinder Shields; University of Melbourne
Presented by: Kevin Lee, University of Leicester

  

Session 33: Special session on Finance and Development
Simon Deakin: "An end to consensus: the (non) impact of legal reform on financial development' Peter Rousseau: "Governments, Trade and Financial Development" Panicos Demetriades: "The African Credit Trap"
Session Chair: Panicos Demetriades, University of Leicester
Session type: invited
Date: September 2, 2010
Time: 16:00 - 17:30
Location: Pefkios
The African Credit Trap
By Svetlana Andrianova Badi H. Baltagi Panicos O. Demetriades David Fielding
Presented by: Panicos Demetriades, University of Leicester

  

Session 34: CUT Special session on macroeconomics and finance
Session type: invited
Date: September 2, 2010
Time: 16:00 - 17:30
A Volatility Smirk that Defaults: The Case of the S&P 500 Index Options
JEL codes: G12,
By Panayiotis C. Andreou; Cyprus University of Technology & Durham Business School
Presented by: Panayiotis Andreou, Cyprus University of Technology & Durham Business School
Macroeconomic Uncertainty, Inflation and Growth:Regime-Dependent Effects in the G7
By Kyriakos C. Neanidis; Economics, University of Manchester and Centre for Growth and Business Cycle Research, Manchester, United Kingdom Christos S. Savva; Department of Commerce, Finance and Shipping, Cyprus University of Technology, Cyprus
Presented by: Christos Savva, Cyprus University of Technology
The Relative Efficiency of Firms in Shipping Markets
By Dr. Photis M. Panayides, Associate Professor in Shipping Economics, Department of Commerce, Finance and Shipping, Cyprus University of Technology Dr. Neophytos Lambertides, Lecturer in Finance, Aston Business School, Aston University, UK Dr. Christos Savva, Lecturer in Econometrics, Department of Commerce, Finance and Shipping, Cyprus University of Technology
Presented by: Photis Panayides, Cyprus University of Technology

  

Session 35: Finance and development
Session type: contributed
Date: September 3, 2010
Time: 9:00 - 11:00
Location: Ammochostos
Institutional Factors and Financial Sector Development: Evidence from Sub Saharan Africa
JEL codes: C61,G21,G28,O16
By George Anayiotos; IMF Hovhannes Toroyan; Binghampton University
Presented by: George Anayiotos, IMF/George Washington University
Financial development, openness and competition in the Euro Area and the US
By Marianthi Anastasatou;University of Bristol Philip Vermeulen;European Central Bank
Presented by: MARIANTHI ANASTASATOU, UNIVERSITY OF BRISTOL
Empirical Assessment of Feldstein-Horioka literature
By Faculty of economics, University Lille 1, 59655 Villeneuve d’Ascq, France. ph. : +33 (0)3 20 33 63 58; fax.: +33 (0)3 28 77 84 44.
Presented by: Bineau Yannick,
Financial Development and Economic Growth: The Role of R&D
By Arshad Ali Bhatti; Centre for Growth and Business Cycle Research (CGBCR) and Economics, University of Manchester, UK Denise R. Osborn;Centre for Growth and Business Cycle Research (CGBCR) and Economics, University of Manchester, UK M. Emranul Haque; Centre for Growth and Business Cycle Research (CGBCR) and Economics, University of Manchester, UK
Presented by: Arshad Bhatti, University of Manchester

  

Session 36: Monetary policy experience
Session type: contributed
Date: September 3, 2010
Time: 9:00 - 11:00
Location: LEMESOS
Credit controls did matter. An evaluation of monetary policy during France’s Golden Age, 1945-1973
JEL codes: E42 E52 E58 N14
By Eric Monnet ; Paris School of Economics & EHESS
Presented by: Eric Monnet, Paris School of Economics
Assessing Spill-Over Effects of U.S. Monetary Policy and Macroeconomic Announcements on Financial Markets in Argentina
By Bernd Hayo; Philipps-University Marburg Matthias Neuenkirch; Philipps-University Marburg
Presented by: Bernd Hayo, Philipps-University Marburg
How Does Monetary Policy Change? Evidence on Inflation Targeting Countries
By Jaromír Baxa; Charles University, Prague Roman Horvath; Czech National Bank and Charles University, Prague Borek Vasicek; Universitat Autonoma de Barcelona
Presented by: Roman Horvath, Czech National Bank and Charles University, Prague
Taking Personalities out of Monetary Policy Decision Making? Interactions, Heterogeneity and Committee Decisions in the Bank of England’s MPC
By Arnab Bhattacharjee; University of St Andrews Sean Holly; University of Cambridge
Presented by: Arnab Bhattacharjee, University of St Andrews

  

Session 37: Fiscal policy II
Session type: contributed
Date: September 3, 2010
Time: 9:00 - 11:00
Location: Lefkosia
The Effects of Fiscal Shocks in SVAR Models: A Graphical Modelling Approach
JEL codes: E62, C32
By Matteo Fragetta; University of Salerno Giovanni Melina; Birkbeck College, University of London
Presented by: Matteo Fragetta, University of Salerno
“The Impact of Government Spending on the Private Sector:Crowding-out versus Crowding-in Effects”
By Davide Furceri;OECD and University of Palermo Ricardo M. Sousa;University of Minho, NIPE, London School of Economics, and FMG.
Presented by: Davide Furceri, OECD
How Important is the Optimal Fiscal Policy in a Currency Union?: The Role of Nontradable Goods
By OKANO, Eiji; Chiba Keizai University
Presented by: Eiji OKANO, Chiba Keizai University
Optimal Fiscal Rules When Unemployment Matters
By Stéphane Moyen; Deutsche Bundesbank Nikolai Stähler; Deutsche Bundesbank
Presented by: Stéphane Moyen, Deutsche Bundesbank

  

Session 38: Investment
Session type: contributed
Date: September 3, 2010
Time: 9:00 - 11:00
Location: Larnaca
Tax Avoidance and Ownership
JEL codes: G32, G34, H26
By Jean-Bernard Chatelain; CES, Centre d’Economie de la Sorbonne, University Paris 1 Pantheon Sorbonne, Paris, e-mail: jean-bernard.chatelain@univ-paris1.fr Kirsten Ralf; Ecole Suprieure du Commerce Extrieur, Paris, e-mail: kirsten.ralf@esce.fr
Presented by: Kirsten Ralf, Ecole Superieure de Commerce Exterieure
Why Do Companies Go Public? An Empirical Analysis of IPOs on the LSE Main Market and AIM
By Fei Jiang; Department of Economics, Loughborough University Christopher J. Green; Department of Economics, Loughborough University
Presented by: Faye Jiang, Loughborough University
Shareholding Structure and Corporate Performance: Further Evidence from Listed Greek Companies
By Mohamed Sherif; Heriot Watt University Iordanis Kalaitzoglou: Heriot Watt University
Presented by: Iordanis Kalaitzoglou, Heriot-Watt University
Corporate Liquidity Management and Future Investment Expenditures
By Christopher F Baum Department of Economics, Boston College and DIW Berlin Mustafa Caglayan Department of Economics, University of Sheffield Oleksandr Talavera School of Economics, University of East Anglia
Presented by: Mustafa Caglayan, University of Sheffield

  

Session 39: Learning and forecasting
Session type: contributed
Date: September 3, 2010
Time: 9:00 - 11:00
Location: Kyrenia
Heterogeneity in Consumers' Learning about Inflation
JEL codes: C53,D84,E31,E37
By Robert D. J. Anderson; Business School - Economics, Newcastle University Ralf Becker; Centre for Growth and Business Cycle Research, University of Manchester Denise R. Osborn; Centre for Growth and Business Cycle Research, University of Manchester
Presented by: Robert Anderson, Newcastle University
Measuring Output Gap Uncertainty
By Anthony Garratt; Birkbeck James Mitchell; NIESR Shaun P. Vahey; ANU
Presented by: Shaun Vahey, Australian National University
Uncertainty and Disagreement in Forecasting Inflation: Evidence from the Laboratory
By Damjan Pfajfar; Unviersity of Tilburg Blaz Zakelj; Universitat Pompeu Fabra
Presented by: Blaz Zakelj, Universitat Pompeu Fabra
Forecast Combinations in Volatility: An Application in Value at Risk and Expected Shortfall
By Elena Andreou; University of Cyprus Constantinos Kourouyiannis; University of Cyprus Andros Kourtellos; University of Cyprus
Presented by: Constantinos Kourouyiannis, University of Cyprus

  

Session 40: Inflation II
Session type: contributed
Date: September 3, 2010
Time: 9:00 - 11:00
Location: Pefkios
Monetary Policy and Inflation Persistence with Imperfect Credit Markets
JEL codes: E31, E44, E52.
By Pierre-Richard Agénor; University of Manchester George Bratsiotis; University of Manchester Damjan Pfajfar; University of Tilburg
Presented by: Damjan Pfajfar, University of Tilburg
Reference-dependent Preferences and the Transmission of Monetary Policy
By Edoardo Gaffeo; University of Trento Ivan Petrella; Catholic University of Leuven Damjan Pfajfar; University of Tilburg Emiliano Santoro; University of Copenhagen
Presented by: Emiliano Santoro, University of Copenhagen
Precautionary Price Stickiness
By Anton Nakov, Banco de España James Costain, Banco de España
Presented by: Anton Nakov, Banco de España
Micro-data on Nominal Rigidity, Inflation Persistence and Optimal Monetary Policy
By Engin Kara; University of Bristol
Presented by: Engin Kara, University of Bristol

  

Session 41: Banking
Session type: contributed
Date: September 3, 2010
Time: 9:00 - 11:00
Location: Paphos
Market Discipline and Russian Market for Personal Deposits: Ask-a-Depositor Methodology
JEL codes: G21, O16, P2
By Maria Semenova; Laboratory for Institutional Analysis of Economic Reforms, State University – Higher School of Economics, Moscow, Russia
Presented by: Maria Semenova, State University - Higher School of Economics
Why does the Interest Rate Decline Over the Day?
By Angelo Baglioni; Catholic University, Milan Andrea Monticini; Catholic University, Milan
Presented by: Andrea Monticini, Catholic University of Milan
Parliamentary Election Cycles and the Turkish Banking Sector
By Christopher F. Baum; Boston College Mustafa Caglayan; University of Sheffield Oleksandr Talavera; University of East Anglia
Presented by: Oleksandr Talavera, University of East Anglia

  

Session 42: Exchange Rates and Monetary Policy
Session type: contributed
Date: September 3, 2010
Time: 9:00 - 11:00
Location: TBC
Taylor rules and the Canadian-US equilibrium exchange rate
JEL codes: c32, f31
By Tino Berger; University of Muenster Bernd, Kempa, University of Muenster
Presented by: Tino Berger, University of Muenster
Exchange rates and asset prices: heterogeneous expectations at work
By Giulia Piccillo; Catholic University of Leuven
Presented by: Giulia Piccillo, Katholieke Universiteit Leuven
Aggregation Bias in Dynamic Exchange Rate Pass-Through Regressions
By Raphael Brun-Aguerre; Birkbeck College, University of London.
Presented by: Raphael Brun, Birkbeck College
Disaggregating Real Exchange Rate Dynamics: A Structural Approach
By JACOB,Punnoose; Ghent University, Belgium.
Presented by: Punnoose Jacob, Ghent University

  

Session 43: Keynote address by Charles Calomiris
Session Chair: Panicos Demetriades, University of Leicester
Session type: invited
Date: September 3, 2010
Time: 11:30 - 12:30
Location: Pefkios

   Index of Participants

Legend: C=chair, P=Presenter, D=Disscussant

Session 44: Special Central Bank of Cyprus Session on Monetary Policy
Organised and chaired by Athanasios Orphanides, Jose Manuel Gonzalez-Paramo: tbc Seppo Honkapohja: tbc Jan Qvigstad: tbc Athanasios Orphanides: tbc
Session type: invited
Date: September 3, 2010
Time: 14:00 - 16:00
Location: Pefkios

#	Participant	Roles in Conference
1	Afonso, Antonio	P5
2	Agur, Itai	P25
3	Albonico, Alice	P30
4	ANASTASATOU, MARIANTHI	P35
5	Anayiotos, George	P35
6	Anderson, Robert	P39
7	Anderson, Richard	P28
8	Andreou, Panayiotis	P34
9	Arghyrou, Michael	P21
10	Ascari, Guido	P27
11	Assenza, Tiziana	P30
12	Bassil, Charbel	P19
13	Beck, Guenter	P9
14	Berger, Tino	P42
15	Bhattacharjee, Arnab	P36
16	Bhatti, Arshad	P35
17	Boucher, Christophe	P26
18	Bowen, David	P2
19	Bruckner, Markus	P10
20	Brun, Raphael	P42
21	Bubak, Vit	P31
22	Byrne, Brian	P25
23	Caggiano, Giovanni	P8
24	Caglayan, Mustafa	P38
25	Calès, Marie-Noëlle	P31
26	Castren, Olli	P25
27	CHANG, MING-JEN	P17
28	Chortareas, George	P6
29	Christelle, Lecourt	P21
30	Cobham, David	P16, P16
31	Coffinet, Jerome	P3
32	Coutinho, Leonor	P10
33	Díaz Saavedra, Julián	P14
34	de Haan, Leo	P14
35	Delli Gatti, Domenico	P30
36	Demetriades, Panicos	C33, P33, C43
37	Di Pace, Federico	P20
38	Dieppe, Alistair	P32
39	Driffill, John	C24
40	Efthyvoulou, Georgios	P10
41	Fan, Jingwen	P27
42	Ferroni, Filippo	P23
43	Fragetta, Matteo	P37
44	Fuentes, Rodrigo	P12
45	Furceri, Davide	P37
46	Giannetti, Caterina	P3
47	Giofré, Maela	P29
48	Girardin, Eric	P5
49	Gregoriou, Andros	P26
50	Halvorsen, Elin	P11
51	Hayo, Bernd	P36
52	Horvath, Roman	P36
53	Jacob, Punnoose	P42
54	James, Jonathan	P20
55	Jensen, Christian	P9
56	Jiang, Faye	P38
57	Junttila, Juha	P21
58	Kalaitzoglou, Iordanis	P38
59	Kang, Yue	P32
60	Kara, Engin	P40
61	Karfakis, J. Costas	P31
62	Kontonikas, Alexandros	P17
63	Kouretas, Georgios	P22
64	Kourouyiannis, Constantinos	P39
65	Lee, Kevin	P32
66	lin, surong	P31
67	Liu, Yang	P29
68	Magonis, George	P9
69	Marsiliani, Laura	P20
70	Matsi, Maria	C12, P12
71	Menz, Jan-Oliver	P22
72	Michaelides, Alexander	P28
73	Mies, Verónica	P13
74	Millard, Stephen	P27
75	Miller, Marcus	P4
76	Milne, Alistair	P6
77	Molinari, Benedetto	P23
78	Monnet, Eric	P36
79	Monticini, Andrea	P41
80	Morana, Claudio	P28
81	Moyen, Stéphane	P37
82	Nakov, Anton	P40
83	Neanidis, Kyriakos	C13, P13
84	Nicolae, Anamaria	P4
85	Nuno, Galo	P23
86	OKANO, Eiji	P37
87	Paiardini, Paola	P26
88	Panayides, Photis	P34
89	Petrella, Ivan	P4
90	Pfajfar, Damjan	P40
91	Phylaktis, Kate	P26
92	Piazza, Roberto	P19
93	Piccillo, Giulia	P42
94	Poti, Valerio	P21
95	Ralf, Kirsten	P38
96	Renstrom, Thomas	P18
97	Roberts, Mark	P18
98	Rubaszek, Michal	P32
99	Santoro, Emiliano	P40
100	Savva, Christos	P34
101	Sévi, Benoît	P14
102	Semenov, Andrei	P17
103	Semenova, Maria	P41
104	Shiamptanis, Christos	P10
105	Smith, Peter	C7, C11, P11
106	solomon, daniel	P14
107	Sousa, Ricardo	P28
108	Spaliara, Marina-Eliza	P1
109	Spencer, Peter	P5
110	Suda, Jacek	P2
111	Sun, Bo	P17
112	Sunel, Enes	P12
113	Talavera, Oleksandr	P41
114	Tayler, William	P20
115	Tillmann, Peter	P22
116	Tiseno, Andrea	P11
117	Trew, Alex	P18
118	Tsenova, Tsvetomira	P22
119	Tsoukas, Serafeim	P12
120	Tzavalis, Elias	P8
121	Vahey, Shaun	P39
122	Varvarigos, Dimitrios	P13
123	Vrachimis, Konstantinos	P18
124	Wang, Qinwei	P30
125	Werner, Richard	P6
126	Xiong, Weibo	P1
127	Yannick, Bineau	P35
128	Zabczyk, Pawel	P19
129	Zaghini, Andrea	P9
130	Zakelj, Blaz	P39
131	Zdzienicka, Aleksandra	P25
132	Zhang, Hongru	P23
133	ZOUACHE, Abdallah	P16

This program was last updated on 2010-07-23 5:54:11 EDT