The COVID-19 pandemic has sparked extraordinary economic policy responses by central banks, financial regulators and other financial policymakers around the world.  This webinar series will be bring together current and former policymakers from central banks and regulators, as well as SIPA faculty and other scholars, to discuss the structure and impact of these changes.  Which policies have been more or less effective in “cushioning the blow” of the pandemic for households and businesses?  How have different economic policymakers -- fiscal, monetary, regulatory -- coordinated their policy responses either within or across countries?  How has the nature of this particular crisis driven policy choices?  What practical policy lessons have we learned from the experience so far?  What else may need to be done on the economic policy front?

 

Past Webinars

   

Global Liquidity and Lender of Last Resort

MONDAY, DECEMBER 7, 2020 | 8:00-9:00 AM ET

Global Liquidity and International Lender of Last Resort

 

Zeti Aziz
Former Governor, Bank Negara Malaysia

Guillermo Ortiz
Treasurer, Group of 30; former Governor, Bank of Mexico

Odd Per Brekk
Deputy Director, Asia and Pacific Department, IMF

Patricia Mosser
Director, MPA in Economic Policy Management, Columbia SIPA

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This webinar will cover new and old lessons about global liquidity and international lender of last resort: effectiveness, usage and limits of swap line arrangements; the evolution of multilateral lending arrangements particularly for EMs; the IMF short-term liquidity facilities; and lessons on global liquidity risks from the COVID period.


Moderator:
Takatoshi ItoProfessor of International and Public Affairs, Columbia SIPA; Associate Director, Center for Japanese Economy and Business, Columbia Business School

 

    Organized by: Central Banking and Financial Policy @ SIPA

       

    Central Bank Digital Currencies

    FRIDAY, NOVEMBER 13, 2020 | 8:00-9:00 AM ET

    Central Bank Digital Currencies

     

    Sir Jon Cunliffe
    Deputy Governor, Bank of England

    Eswar Prasad
    Nandlal P. Tolani Senior Professor of Trade Policy & Professor of Economics, Cornell University

    Shinichi Uchida
    Executive Director, Bank of Japan

     

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    The major central banks of advanced countries have just issued their study on the central bank digital currency (CBDC). Some other central banks, such as the People's Bank of China, have started issuing CBDC as "experiments." This webinar will explore the current state and thinking of CBDC from experts on the issue.


    Moderator:
    Takatoshi ItoProfessor of International and Public Affairs, Columbia SIPA; Associate Director, Center for Japanese Economy and Business, Columbia Business School

    Discussant:
    Patricia MosserDirector, Central Banking and Financial Policy, Columbia SIPA

     

      Organized by: Central Banking and Financial Policy @ SIPA
      Outreach Partner: Center on Japanese Economy and Business, Columbia Business School

       

      Policy Challenges for Emerging Markets Central Banks

      TUESDAY, OCTOBER 13, 2020 | 8:00-9:00 AM ET

      Policy Challenges for Emerging Markets Central Banks

      Ilan Goldfajn
      Chair, Credit Suisse Brazil, Former Governor, Banco Central do Brasil

      Urjit Patel
      Former Governor, Reserve Bank of India

      Andres Velasco
      Dean, School of Public Policy, London School of Economics and Political Science, Former Finance Minister, Chile

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      Panelists will discuss the unique challenges for emerging economy central banks during the pandemic:

      • Addressing both the negative real economy shock of COVID-19 and the large spillovers from aggressive policy actions of the advanced economies,
      • Fiscal role of central banks.  Is it time to relax constraints on EM central banks' asset purchases, particularly of government bonds?
      • Inflation in many Emerging Markets is low despite massive monetary policy stimulus.  What does this mean for the future of inflation targeting and expansionary monetary policy?  More “unconventional policies" by central banks?  Is it time to relax constraints on central banks' purchases of government bonds?


      Moderator:
      Patricia MosserDirector, Central Banking and Financial Policy, Columbia SIPA

      Discussant:
      Guillermo Calvo, Professor of International and Public Affairs, Columbia SIPA

         

        Implications for Central Bank Independence

        THURSDAY, SEPTEMBER 24, 2020 | 8:00-9:00 AM ET

        Central Banking in the COVID-19 Era: Implications for Central Banking Independence

        Veerathai Santiprabhob
        Governor Bank of Thailand, Chair, BIS Central Bank Governance Group

        Athanasios Orphanides
        Professor of Practice, MIT Sloan School, former Governor of the Bank of Cyprus

        Kathryn Judge
        Harvey J. Goldschmid Professor of Law at Columbia Law School

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        Moderator:
        Takatoshi ItoProfessor of International and Public Affairs, Columbia SIPA; Associate Director, Center for Japanese Economy and Business, Columbia Business School

        Discussant:
        Patricia MosserDirector, Central Banking and Financial Policy, Columbia SIPA

         

        Recent Lessons for Financial Regulation and Macroprudential Policy

        TUESDAY, SEPTEMBER 8, 2020 | 8:00-9:00 AM ET

        Central Banking in the COVID 19 Era—Recent Lessons for Financial Regulation and Macroprudential Pol

        Ryozo Himino
        Commissioner, Japanese Financial Services Agency

        Donald Kohn
        Robert V. Roosa Chair in International Economics, Brookings Financial Stability Committee, BOE

        Jeremy Stein
        Moise Y. Safra Professor of Economics, Harvard University Former Governor, Federal Reserve

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        Moderator:
        Patricia MosserDirector, Central Banking and Financial Policy, Columbia SIPA

        Discussant:
        Takatoshi ItoProfessor of International and Public Affairs, Columbia SIPA; Associate Director, Center for Japanese Economy and Business, Columbia Business School

         

        Organized by: Central Banking and Financial Policy @ SIPA
        Outreach Partner: Center on Japanese Economy and Business, Columbia Business School