Third Annual Czech National Bank Conference
Safeguarding Stability in Unstable World
Prague, June 22-23, 2026
Czech National Bank Congress Centre (The Commodity Exchange), Senovážné nám. 30, Prague 1
The conference will include keynote speech by Neeltje Van Horen (University of Amsterdam and Bank of England) and Luc Laeven (European Central Bank).
The policy panel discussion will include Juraj Falath (Director, Monetary Policy Analysis Section, Economic And Monetary Analysis Department, National Bank of Slovakia), Jacek Kotłowski (Director, Economic Analysis and Research Department, National Bank of Poland), Huw Pill (Chief Economist and Executive Director for Monetary Analysis and Research, Bank of England).
Registration
The conference is open to registered participants only. To register, please use the registration form.
Registration deadline: June 8, 2026
Conference date: June 22-23, 2026
The registration confirmation will be sent to e-mail at least two weeks before the event.
Questions regarding the conference should be sent to research@cnb.cz.
Preliminary programme
Monday, 22 June 2026 | Day 1
All times are in Central European Summer Time.
The presenter is marked with an asterisk (*).
| 8.30 | Registration & Morning Coffee |
| 8.55 | Opening Remarks (TBD, Czech National Bank) |
| 9.00 | Banks, Firms, and Households: Credit Shock Amplification and Real Effects Cédric Huylebroek* (KU Leuven & Norges Bank), Jin Cao (Norges Bank) Discussant: TBA |
| 9.40 | Corporate Debt Composition, Access to Credit, and Monetary Policy Adam Gulan (Bank of Finland), Aino Silvo* (Bank of Finland) Discussant: TBA |
| 10.20 | Coffee break |
| 10.40 | Keynote Speech: TBD Luc Laeven (European Central Bank) |
| 11.45 | Lunch |
| 13.00 | TITLE OF THE PANEL DISCUSSION Huw Pill (Chief Economist and Executive Director for Monetary Analysis and Research, Bank of England), Jacek Kotłowski (Director, Economic Analysis and Research Department, National Bank of Poland), Juraj Falath (Director, Monetary Policy Analysis Section, Economic And Monetary Analysis Department, National Bank of Slovakia |
| 14.30 | Coffee break |
| 14.50 | Inequality and the Medium-Term Business Cycle Marco D’Amico* (Uppsala University and Universite Libre de Bruxelles) Discussant: Michał Brzoza-Brzezina (SGH Warsaw School of Economics, National Bank of Poland) |
| 15.30 | Population Aging through the Lens of DSGE-OLG-NK Model: Implications for Unemployment and Monetary Policy Krzysztof Makarski (SGH Warsaw School of Economics and FAME|GRAPE), Sylwia Radomska (Institute of Economics, Polish Academy of Sciences, FAME|GRAPE), Joanna Tyrowicz* (University of Regensburg, FAME|GRAPE and IZA) Discussant: TBA |
| 16.10 | Coffee break |
| 16.30 | Energy Prices, Credit Risk, and Bank Lending Dynamics Marco Giometti* (UC3M), Jose Gutierrez (Banco de España), Enric Martorell (Banco de Espana), Andrea Sy (CEMFI & Banco de Espana) Discussant: Domenica Di Virgilio (Bank of Slovenia) |
| 17.10 | The Effects of Geopolitical Risk on Sovereign Debt Holders in the Euro Area Othman Bouabdallah (European Central Bank), Anisa Tiza Mimun* (European Central Bank), Aurelian Vlad (European Central Bank) Discussant: TBA |
| 18.00 | Walking tour around Prague centre (by invitation) |
| 19.00 | Dinner (by invitation) |
| 21.30 | End |
Tuesday, 23 June 2026 | Day 2
All times are in Central European Summer Time.
The presenter is marked with an asterisk (*).
| 8.30 | Registration & Morning Coffee |
| 9.00 | Granular Monetary Policy Surprises Falko Fecht (Deutsche Bundesbank and Frankfurt School of Finance and Management), Björn Imbierowicz (Deutsche Bundesbank), Moritz Kellers* (Deutsche Bundesbank and Goethe University Frankfurt) Discussant: Michal Franta (Czech National Bank) |
| 9.40 | Spending on the Frontline: The Macroeconomic Implications of Rising Defence Expenditure Daragh Clancy* (Central Bank of Ireland), Matija Lozej (Central Bank of Ireland) Discussant: Dennis Bonnam (De Nederlandsche Bank) |
| 10.20 | Coffee break |
| 10.40 | Keynote Speech: TBD Neeltje Van Horen (University of Amsterdam and Bank of England) |
| 11.45 | Lunch |
| 13.00 | Safe for Whom? Investment Flows To Sovereign Bonds During Global And Regional Stress Martijn Boermans (Czech National Bank), Alessandro Chiari* (Czech National Bank), Martin Hodula (Czech National Bank), Simona Malovaná (Czech National Bank) Discussant: TBA |
| 13.40 | The Covered Bond Channel of QE: Non-Bank Financial Intermediaries, Mortgage Lenders and Housing Markets Thomas Krause* (Danmarks Nationalbanken), Manuel Mazidi (University of Neuchâtel) Discussant: TBA |
| 14.20 | Biases in Loan Recovery-Rate Estimation Jaime Leyva* (Banco de Portugal), Tiago Pinheiro (Banco de Portugal) Discussant: TBA |
| 15.00 | Adjourn |
Organizing committee
- Volha Audzei (Czech National Bank)
- Jan Janků (Czech National Bank)
Scientific committee
- Volha Audzei (Czech National Bank)
- Michal Franta (Czech National Bank)
- Martin Hodula (Czech National Bank)
- Jan Janků (Czech National Bank)
- Simona Malovaná (Czech National Bank)
- František Mašek (Czech National Bank)