CNB Research Open Day 2019

Monday, 27 May 2019

Czech National Bank’s Commodity Exchange (Plodinová burza) building, Senovážné nám. 30, Prague 1


8:30 Registration & Morning Coffee
9:00 Welcome Address: Jiří Rusnok, Governor, CNB

CNB Research in 2019: Jan Brůha, Director of Economic Research Division, Monetary Department, CNB
Presentation (pdf, 87 kB)

9:15 Keynote Speech: Central Banking and the Global Economy
Jacob A. Frenkel, Chairman, JP Morgan Chase International
9:45 Q&A
10:00 Quantifying the Natural Rate of Interest in a Small Open Economy – The Czech Case (CNB Board Award for the Best Paper in 2018)
Tibor Hlédik, Joint Vienna Institute and Jan Vlček, CNB
Presentation (pdf, 369 kB)
10:20 Q&A
10:30 Coffee Break
Session 1. Chair: Jan Babecký, CNB
11:00 Balance Sheet Implications of the Czech National Bank’s Exchange Rate Commitment
Michal Franta, Tomáš Holub, Branislav Saxa, CNB
Presentation (pdf, 1,3 MB)
11:20 Discussion: David Vestin, Sveriges Riksbank
Presentation (pdf, 553 kB)
11:35 Q&A
11:45 Non-base Wage Components as a Source of Wage Adaptability to Shocks: Evidence from European Firms, 2010–2013
Jan Babecký, CNB, Clémence Berson, Banque de France, Ludmila Fadejeva, Latvijas Banka, Ana Lamo, ECB, Petra Marotzke, Bundesbank, Fernando Martins, Banco de Portugal, Pawel Strzelecki, Narodowy Bank Polski
Presentation (pdf, 1,7 MB)
12:05 Discussion: Pavel Gertler, National Bank of Slovakia
Presentation(pdf, 268 kB)
12:20 Q&A
12:30 Lunch
Session 2. Chair: Simona Malovaná, CNB
13:45 The Effect of Higher Capital Requirements on Bank Lending: The Capital Surplus Matters
Simona Malovaná and Dominika Kolcunová, CNB
Presentation (pdf, 317 kB)
14:05 Discussion: Katalin Varga, Central Bank of Hungary
Presentation (pdf, 2,3 MB)
14:20 Q&A
14:30 A Profit-to-Provisioning Approach to Setting the Countercyclical Capital Buffer: The Czech Example (CNB Board Award for the Best Paper in 2018)
Lukáš Pfeifer and Martin Hodula, CNB
Presentation (pdf, 445 kB)

Discussion: Štefan Rychtárik, National Bank of Slovakia
Presentation (pdf, 328 kB)

15:05 Q&A
15:15 End of the Programme

The programme of CNB Research Open Day 2019 can be downloaded also in pdf format (pdf, 83 kB).

Please note that places will be subject to availability owing to the limited capacity of the conference facility.
Registration closed.