Riksbank macroprudential conference

Date: 23-24 June 2015

The Riksbank has taken the initiative for a new conference on macroprudential policy, the Riksbank macroprudential conference. The aim is to establish this annual conference as the leading venue for frontier thinking on macroprudential policies, with participation by leading academics, policy makers, and representatives of the private sector.

Macroprudential policy focuses on risks in the financial system. One insight from the most recent global financial crisis is that macroprudential policy is needed as a complement to monetary policy and fiscal policy. As it is a new policy area, there are currently few global forums in which to discuss macroprudential policy issues.

Household debt, capital regulations and financial crises

The subjects to be discussed at the conference include household indebtedness, the long-term effects of capital regulation on the economy, how we can improve our ability to predict financial crises and how the liquidity regulations should be formulated.

The keynote speaker at this year's conference is Raghuram Rajan, Governor of the Reserve Bank of India, who is on leave of absence as professor of finance at the Graduate Business School of the University of Chicago and who has previously been Chief Economist at the International Monetary Fund. Other participants include Jeremy Stein of Harvard University, Atif Mian of Princeton University, Stanley Fischer, Vice Chairman of the Board of Governors of the US Federal Reserve System, and Peter Praet, executive board member of the European Central Bank.

Participants from the Riksbank include the Executive Board and representatives of the Monetary Policy and Financial Stability Departments.

The conference, which is invitation only, is organised by the Riksbank in collaboration with Finansinspektionen and the Swedish House of Finance. Vinnova is providing financial support for the conference.

Open seminar on 22 June

On 22 June at 16.30 hours an open seminar will be held on the theme "How to create financial stability with low or negative interest rates -The role of macroprudential policies". Policy makers, journalists, academics and representatives of the financial sector are welcome.

There will be a discussion between Amir Sufi, University of Chicago, Martin Flodén, the Riksbank and Arvind Krishnamurthy, Stanford Graduate School of Business, moderated by Per Strömberg, Stockholm School of Economics.