Financial Regulation and Macroeconomic Stability: Key Issues for the G20

Financial Regulation and Macroeconomic Stability – Key Issues for the G20

London, UK

January 31, 2009

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Overview

This conference hosted with the support of the G20 and the CEPR analyzed a wide array of reform proposals the G20 might consider in order to address the crisis and more particularly the fact that as financial troubles deepen, the temptation for each individual country to free ride increases and the need for coordination becomes more evident. The proceedings from this event were summarized in an e-book published by the CEPR and entitled Macroeconomic Stability and Financial Regulation: Key issues for the G20. In keeping with the conception and the title of this book, the seminar stressed as a key issue the short-run policy imperative. It was also argued that neither monetary nor fiscal policies would work unless, and until, the blockages in the supply of credit were resolved. A strong case was also made for restoring to near-normal conditions financial intermediation and the structure supporting it in order to stop the accelerating decline.

Agenda

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Speakers

Carlos TRUCHARTE: Economist, Bank of Spain
Charles BEAN: Deputy Governor, Bank of England
Guy AMERICA: Managing Director and European Head of Credit Trading, JP Morgan
Hendrik HAKENES: Professor of Financial Economics, Leibniz Universitat Hannover
Isabel SCHNABEL: Professor of Financial Economics, Johannes Gutenberg Universitat Mainz and CEPR
Jean Charles ROCHET: Professor of Economics, Toulouse School of Economics and CEPR
Jesus SAURINA: Director, Financial Stability Department, Bank of Spain
Jeyoon SHIN: Deputy Minister, Republic of Korea
Lesejta KGANYAGO: Director General, Department of Treasury South Africa
Luigi BUTTIGLIONE: Head of Global Strategy, Partner Brewan Howard
Marc UZAN: Executive Director, Reinventing Bretton Woods Committee
Marco BECHT: Professor of Finance, Universite Libre de Bruxelles and CEPR
Marco BUTI: Director General, DG Economic and Financial Affairs, European Commission
Marco PAGANO: Professor of Economics, Universita di Napoli Federico II and CEPR
Mark SOBEL: Deputy Assistant Secretary, International Affairs, Department of Treasury
Markus BRUNNERMEIER: Edwards S. Sanford Professor of Finance and Economics, Princeton University and CEPR
Mathias DEWATRIPONT: Professor of economics, Universite Libre de Bruxelles and CEPR
Muhammad AL JASSER: Vice Governor, Saudi Arabian Monetary Agency
Ousmene MANDENG: Head Public Sector Investment Advisory, Ashmore Investment
Paolo VOLPIN: Associate Professor of Finance, London Business School and CEPR
Patricia JACKSON: Partner, Ernst & Young
Philip LANE: Professor of Economics, Trinity College, Dublin and CEPR
Rafael REPULLO: Director of the Center for Monetary and Financial Studies CEMFI and CEPR
Rakesh MOHAN: Deputy Governor, Reserve Bank of India
Richard PORTES: Professor of Economics, London Business School and President, CEPR
Stefan GERLACH: Professor of Economics, University of Frankfurt and CEPR
Sylvie MATHERAT: Head, Financial Stability Directorate, Bank of France
Takatoshi ITO: Professor of Economics, University of Tokyo and CEPR
Willem BUITER: Professor of Political Economy, London school of Economics and CEPR