The Bank of Israel’s International Conference on Systemic Risk and Macroprudential Policy

The international conference, entitled “Systemic Risk and Macroprudential Policy” is being held by Bank of Israel in collaboration with the CEPR in Tel Aviv on December 17–18, 2018.

• The international conference, entitled “Systemic Risk and Macroprudential Policy” is being held by Bank of Israel in collaboration with the CEPR (Centre for Economic Policy Research) in Tel Aviv on December 17–18, 2018.

 

•     At the conference, papers by researchers from around the world, serving in various positions in academia, central banks (including the Bank of Israel), and other international entities were presented. In addition, Prof. Franklin Allen was a guest lecturer.

 

The international conference, entitled “Systemic Risk and Macroprudential Policy” is being held by the Bank of Israel in collaboration with the CEPR (Centre for Economic Policy Research) on December 17–18 in Tel Aviv. Participants include researchers from around the world, including from academia, central banks, and other international entities, as well as representatives of the Bank of Israel.

 

In her opening remarks, Acting Governor of the Bank of Israel Dr. Nadine Baudot-Trajtenberg referred to macroprudential measures that were utilized by the Bank and the effects of which were examined in Bank of Israel research papers that were presented at the Conference. She noted that the immediate effect of the steps was as expected, however, their true effectiveness in reducing the risk will only be able to be measured after there is a turning point in the macroeconomic environment. The credit data system being established by the Bank of Israel, and the Financial Stability Committee that will be set up soon, after the legislation is completed in the Knesset, will contribute to our ability to monitor and learn from the financial system’s weak points.

 

Economists from the Bank of Israel, central banks worldwide (the US Federal Reserve, the ECB, the Bank of England, and the Central Bank of Brazil), the IMF, as well as universities from around the world, will present and discuss their research on theoretical and empirical aspects of systemic risks and macroprudential policy.

 

Professor Franklin Allen presented a lecture in which he surveyed the main policy dilemmas given the tension between monetary policy goals—macroeconomic stability, and financial stability and asset price considerations.

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