The Swiss National Bank and International Macro at University College Dublin, in cooperation with the Journal of International Money and Finance, are holding a workshop in Zurich on Thursday, 14 November 2025:
Welcome remarks Nicolas Stoffels (Swiss National Bank)
Session 1: Uncovering true exposures and activities Chair: Agustín Bénétrix (Trinity College Dublin) The geography of capital allocation in the euro area Roland Beck (European Central Bank), Antonio Coppola (Stanford University), Angus Lewis (Stanford Un…
The Swiss National Bank and International Macro at University College Dublin, in cooperation with the Journal of International Money and Finance, are holding a workshop in Zurich on Thursday, 14 November 2025:
Welcome remarks Nicolas Stoffels (Swiss National Bank)
Session 1: Uncovering true exposures and activities Chair: Agustín Bénétrix (Trinity College Dublin) The geography of capital allocation in the euro area Roland Beck (European Central Bank), Antonio Coppola (Stanford University), Angus Lewis (Stanford University), Matteo Maggiori (Stanford University), Martin Schmitz (European Central Bank), and Jesse Schreger (Columbia Business School) Discussant: Emilia Garcia-Appendini (University of St Gallen) Accounting for economic activities in the current account: Evidence from Switzerland Laurence Wicht (Swiss National Bank) Discussant: Cian Allen (International Monetary Fund)
Session 2: New financial intermediation Chair: Pınar Yeşin (Swiss National Bank) Do funds engage in optimal fx hedging? Harald Hau (University of Geneva and Swiss Finance Institute) and Leonie Bräuer (University of Geneva and Swiss Finance Institute) Discussant: Vladyslav Sushko (Bank for International Settlements)
DeFiying gravity? An empirical analysis of cross-border bitcoin, ether and stablecoin flows Raphael Auer (Bank for International Settlements), Ulf Lewrick (Bank for International Settlements), and Jan Paulick (Bank for International Settlements and Deutsche Bundesbank) Discussant: Eugenio Cerutti (International Monetary Fund)
Session 3: Funding stress and fragmentation Chair: Agustín Bénétrix (Trinity College Dublin) Swap line arbitrage Pēteris Kloks (University of St Gallen) Discussant: Chang He (University of Virginia) Geopolitical risk: When it matters, where it matters. Evidence from international portfolio allocations Nathan Converse (Federal Reserve Bank of New York) and Enrico Mallucci (Central Bank of Ireland) Discussant: Georgios Georgiadis (European Central Bank)
Panel session: Challenges in policymaking Moderator: Gian Maria Milesi-Ferretti (Brookings Institution) Panelists:
- Laura Alfaro (Inter-American Development Bank & Harvard Business School)
- Stephanie E. Curcuru (Federal Reserve Board)
- Philip R. Lane (European Central Bank)
Closing remarks Benjamin Müller (Swiss National Bank)
Conference organizers are Agustin Benetrix (IM-TCD, Trinity College Dublin), Menzie Chinn (University of Wisconsin-Madison, Journal of International Money and Finance), Milena Kyburz (Swiss National Bank), Benjamin Müller (Swiss National Bank), and Pinar Yesin (Swiss National Bank). Selected papers will be published in a special section of the JIMF.