26
11th IWH-FIN-FIRE Workshop on "Challenges to Financial Stability"
The Halle Institute for Economic Research (IWH) – Member of the Leibniz Association is organizing a workshop on “Challenges to Financial Stability” on September 25th and 26th, 2025, to be held in Halle (Saale). We aim to attract excellent theoretical and empirical papers from a broad range of financial economics and stability topics.
Who
Where
Personal details
Itay Goldstein is the Joel S. Ehrenkranz Family Professor and a Professor of Finance at the Wharton School of the University of Pennsylvania. He has been on the faculty of the Wharton School since 2004 and holds a secondary appointment as a Professor of Economics.
A Rear-mirror View to the 11th FIN-FIRE “Challenges to Financial Stability” Workshop
in: Wirtschaft im Wandel, No. 3, 2025
Abstract
On September 25th, financial economists from all over the world travelled for the 11th time to Halle (Saale) to attend the annual FIN-FIRE Workshop at IWH. During two days, authors of ten papers covered a comprehensive overview of contemporary issues that pose potential challenges to the financial system, including data privacy in mortgage markets, climate risks in bond markets, synthetic risk transfers, the effects of geopolitical risks for lending, as well as granular perspectives on the transmission of monetary policy. An intense exchange of thoughts between authors, discussants, and the audience yielded genuinely new insights into the resilience and fragility of financial systems.
Opening Remarks
- Michael Koetter, IWH and Otto von Guericke University Magdeburg
Session A: Mortgage Session
- Sarah Zhang, University of Manchester
Racial Disparities in the U.S. Mortgage Market: Evidence from Data Privacy Legislation
Discussed by Alexander Popov, European Central Bank
Racial Disparities in the U.S. Mortgage Market: Evidence from Data Privacy Legislation - Virginia Gianinazzi, Nova School of Business and Economics
The Response of Debtors to Rate Changes
Discussed by Ragnar Juelsrud, Norges Bank
The Response of Debtors to Rate Changes
- Keynote lecture by Itay Goldstein, Finance Department Wharton School, University of Pennsylvania
Complementarities and Fragility in the Financial System
(Photo: IWH).
Session B: Bond Markets
- Yasmine van der Straten, Nova School of Business and Economics
Funding the Fittest? Pricing Climate Transition Risk in the Corporate Bond Market
Discussed by Chi-yang Tsou, Alliance Manchester Business School, University of Manchester
Funding the Fittest? Pricing Climate Transition Risk in the Corporate Bond Market - Chuck Fang, Drexel University
Unrealized Trading Gains
Discussed by Rex Wang Renjie, Vrije Universiteit Amsterdam & Tinbergen Institute
Unrealized Trading Gains
Session C: Funding Choices and Risk
- Alex Osberghaus, Swiss Finance Institute - University of Zurich
Synthetic, but How Much Risk Transfer?
Discussed by Jennifer Dlugosz, Federal Reserve Board
Synthetic, but How Much Risk Transfer? - Gonçalo Almeida, INSEAD
Resilience Amid Panic: A Story of Bank Runs Without Failures in a Pre-Central Bank Era
Discussed by Maxi Günnewig, University of Bonn
Resilience Amid Panic: A Story of Bank Runs Without Failures in a Pre-Central Bank Era
Session D: Lending Choices
- Tim Eisert, Nova School of Business and Economics
Inflation and Floating-Rate Loans: Evidence from the Euro-Area
Discussed by Gabriel Züllig, Swiss National Bank
Inflation and Floating-Rate Loans: Evidence from the Euro-Area - Iliriana Shala, Deutsche Bundesbank
Violent Conflict and Cross-Border Lending
Discussed by Dennis Reinhardt, Bank of England
Violent Conflict and Cross-Border Lending
Session E: Monetary Policy Pass-through
- Dominik Damast, LUISS Guido Carli
Homeowners Insurance and the Transmission of Monetary Policy
Discussed by Thomas Jansson, Sveriges Riksbank
Homeowners Insurance and the Transmission of Monetary Policy
Whom to contact
Office
If you have any further questions please contact me.
+49 345 7753-771 Request per E-Mail
