Program

6th Workshop
”Monetary and Financial Economics“

Thursday, July 3rd, 2008

11:30-12:15

Registration

12:15-12:30

Welcoming Address

12:30-14:00

Session 1

Michael Kötter (University of Groningen) Tigran Poghosyan (University of Groningen)
“Do Regional Real Estate Market Developments Affect Bank Distress? A Multilevel Mixed-effect Analysis”
Discussant: Jose-Luis Peydro-Alcalde (European Central Bank)

Christian Bauer (University of Bayreuth) Bernhard Herz (University of Bayreuth)
“Does It Pay To Defend: The Dynamics of Financial Crisis”
Discussant: Rüdiger Pohl (Martin-Luther-University Halle-Wittenberg)

14:00-14:15

Coffee break

14:15-15:45

Session 2

Julien Idier (Banque de France) Stefano Nardelli (European Central Bank)
“Probability of Informed Trading on the Euro Overnight Market Rate: An Update”
Discussant: Ben Craig (FED Cleveland and Deutsche Bundesbank)

Renaud Beaupain (University of Namur) Alain Durré (European Central Bank and Catholic University of Lille)
“The Intra- and Interday Patterns of the Overnight Market: Evidence from an Electronic Platform”
Discussant: Hans-Eggert Reimers (University of Wismar)

15:45-16:15

Coffee break

16:15-17:45

Session 3

Dieter Nautz (Goethe University Frankfurt) Jan Scheithauer (Goethe University Frankfurt)
“Monetary Policy Implementation and Overnight Rate Persistence: Some International Evidence”
Discussant: Jörg Breitung (University Bonn)

Ulrike Busch (Goethe University Frankfurt) Dieter Nautz (Goethe University Frankfurt)
“Controllability and Persistence of Money Market Rates along the Yield Curve: Evidence from the Euro Area”
Discussant: Claudia Becker (Martin-Luther-University Halle-Wittenberg)

Friday, July 4th, 2008

8:30-10:00

Session 4

Jeroen Klomp (University of Groningen) Jakob de Haan (University of Groningen and CESifo Munich)
“Central Bank Independence and Financial Stability”
Discussant: Katrin Assenmacher-Wesche (Swiss National Bank)

Jin Cao (Munich Graduate School of Economics) Gerhard Illing (University of Munich and CESifo)
“Liquidity Shortages and Monetary Policy”
Discussant: Uwe Vollmer (University of Leipzig)

10:00-10:15

Coffee break

10:15-11:45

Session 5

Wolfgang Lechthaler (Kiel Institute for the World Economy) Christian Merkl (Kiel Institute for the World Economy) Dennis Snower (Kiel Institute for the World Economy)
“Monetary Persistence and the Labor Market”
Discussant: Stefan Gerlach (Institute for Monetary and Financial Stability, Frankfurt)

Filippo Taddei (Collegio Carlo Alberto)
“Liquidity and Economic Fluctuations”
Discussant: Hendrik Hakenes (Leibniz University Hannover)

11:45-12:00

Coffee break

12:00-13:30

Session 6

Christian Grisse (University of Cambridge)
“Higher Order Beliefs and the Comovement of Asset Prices”
Discussant: Achim Hauck (Heinrich-Heine-University Düsseldorf)