Monetary and Financial History: Lessons for the 21st Century, 21-22 November 2024

2024 marks the 150th anniversary of the first issuance of the Swedish krona. In order to commemorate this event, Sveriges Riksbank is organizing a conference on “Monetary and Financial History: Lessons for the 21st Century”. The conference will be held in person in Stockholm, Sweden, on November 21–22, 2024.

Christina Romer (University of California Berkeley) and Charles Calomiris (Columbia Business School) will deliver keynote speeches.

Questions about the conference can be directed to conference@riksbank.se.

Programme

Monetary and Financial History: Lessons for the 21st Century, 21-22 November 2024

[Programme]

Session 1: Central banks and private banking

The effect of monetary policy on bank funding stability [Paper]
Authors: Maximilian Grimm (University of Bonn) [Slides]
Discussant: Sriya Anbil (Board of Governors of the Federal Reserve System) [Slides]

Central bank liquidity support, bank lending, and the end of currency competition [Paper]
Authors: Anna Grodecka-Messi (Sveriges Riksbank) and Xin Zhang (Sveriges Riksbank) [Slides]
Discussant: George Selgin (Cato Institute)

Keynote speech: Christina D. Romer (University of California, Berkeley) [Slides]
Lessons from history for successful disinflation

Session 2: Monetary and fiscal policy

Evaluating policy institutions – 150 years of US monetary policy [Paper]
Authors: Regis Barnichon (Federal Reserve San Francisco) and Geert Mesters (Universitat Pompeu Fabra)
Discussant: David H. Romer (University of California, Berkeley) [Slides]

Did the U.S. really grow out of its World War II debt? [Paper]
Authors: Julien Acalin (International Monetary Fund) and Laurence Ball (Johns Hopkins University)
Discussant: Jonathan Payne (Princeton University) [Slides]

Rethinking the Lender of Last Resort: New Evidence on the Stabilization of Money Markets Before the Federal Reserve [Paper]
Authors: Caroline Fohlin (Emory University) [Slides]
Discussant: Eugene N. White (Rutgers University) [Slides]

Keynote speech: Charles Calomiris (Institute for Research in Economics) [Slides]
A taxonomy of financial crises

Session 3: International finance and macroeconomics

International lending in war and peace [Paper]
Authors: Sebastian Horn (University of Hamburg), Carmen M. Reinhart (Harvard University) and Christoph Trebesch (Kiel Institute) [Slides]
Discussant: Kirsten Wandschneider (University of Vienna)

Fiscal dominance, monetary policy and exchange rates: Lessons from early-modern Venice [Paper]
Authors: Donato Masciandaro (Bocconi University), Davide Romelli (Trinity College Dublin) and Stefano Ugolini (University of Toulouse)
Discussant: François Velde (Federal Reserve Bank of Chicago) [Slides]

Session 4: Risk in banking

Bankers’ skin-in-the-game and security issuance
Authors: Peter Koudijs (New York University) and Eva Mulder (Erasmus University Rotterdam) [Slides]
Discussant: Gary Richardson (University of California, Irvine) [Slides]

How do financial crises redistribute risk? [Paper]
Authors: Kris Mitchener (Santa Clara University and NBER) and Angela Vossmeyer (Claremont McKenna College)
Discussant: Mark Carlson (Board of Governors of the Federal Reserve System) [Slides]

Session 5: Central bank balance sheets

Central banks and the absorption of international shocks (1890-2020) [Paper]
Authors: Guillaume Bazot (LED, University Paris 8), Eric Monnet (Paris School of Economics) and Matthias Morys (University of York) [Slides]
Discussant: Rebecca Stuart (University of Neuchâtel) [Slides]

Seizing central bank assets? [Paper]
Authors: Tobias Krahnke (ECB), Massimo Ferrari Minesso (ECB), Arnaud Mehl (ECB and CEPR) and Isabel Vansteenkiste (ECB and CEPR) [Slides]
Discussant: Martin Ellison (University of Oxford) [Slides]