Programme for workshop on
China’s monetary and exchange rate policy
Helsinki, May 16-17, 2011
Organized by the Central Bank-Academia Network on the Chinese Economy
(BOFIT & CEA-Europe) |
Monday, May 16 |
9.00 |
Opening words: Iikka Korhonen (Bank of Finland) |
| 9.10-10.50 |
Session: China’s Monetary Policy Implementation
Chair: Iikka Korhonen (Bank of Finland) |
| |
Dong He (Hong Kong Monetary Authority) and Honglin Wang (Hong Kong Monetary Authority):
Dual-track interest rates and the conduct of monetary policy in China
> Discussant: Eric Girardin (GREQAM, Université Aix-Marseille) |
| |
Guonan Ma (Bank for International Settlements) and Yan Xiandong (People’s Bank of China):
China’s reserve requirement: practices, effects and implications
> Discussant: Markus Hyvonen (Reserve Bank of Australia) |
| 11.10-12.50 |
Session: Issues on Monetary Policy
Chair: Eric Girardin (GREQAM, Université Aix-Marseille) |
| |
Xuechun Zhang (People’s Bank of China):
Intermediary targets of Chinese monetary policy: Selection and efficiency
> Discussant: Risto Herrala (Bank of Finland) |
| |
Changsheng Chen (GREQAM, Université Aix-Marseille), Eric Girardin (GREQAM, Université Aix-Marseille) and Aaron Mehrotra (Bank for International Settlements):
Provincial Phillips curves in China: The role of openness
> Discussant: Michael Funke (Hamburg University) |
| 14.00-15.40 |
Session: Monetary Policy and Asset Prices
Chair: Aaron Mehrotra (Bank for International Settlements) |
| |
Tuuli Koivu (Bank of Finland):
Monetary policy, asset prices and consumption in China
> Discussant: Lucia Morales (Dublin Institute of Technology) |
| |
Yanbing Zhang (University of Tsinghua), Xiuping Hua (University of Nottingham, Ningbo) and Liang Zhao (University of Sheffield):
Monetary policy and housing price - A case study of Chinese experiences in 1999-2010
> Discussant: Duo Qin (Queen Mary University of London) |
| 16.00-17.40 |
Session: Value of the Renminbi
Chair: Michael Funke (Hamburg University) |
| |
Duo Qin (Queen Mary University of London):
Is the Chinese currency substantially undervalued?
> Discussant: Aaron Mehrotra (Bank for International Settlements) |
| |
Yin-Wong Cheung (University of California, Santa Cruz): Exchange rate misalignment estimates – Sources of differences
> Discussant: Iikka Korhonen (Bank of Finland) |
| 19.00 |
Dinner and presentation by Robert N. McCauley (Bank for International Settlements):
The internationalization of the renminbi |
Tuesday, May 17 |
| 9.00-10.40 |
Session: Exchange rate policy
Chair: Iikka Korhonen (Bank of Finland) |
| |
Enrique Alberola (Banco de España) and Francesca Viani (Banco de España):
Policy bias in asset allocation and prices between China and the US: A two-country general equilibrium analysis
> Discussant: Riikka Nuutilainen (Bank of Finland and University of Oulu) |
| |
Zhichao Zhang (Durham Business School), Nan Shi (Durham Business School) and Xiaoli Zhang (Shanghai Institute of Foreign Trade):
China’s new exchange rate regime, optimal basket currency and currency diversification
> Discussant: Heikki Oksanen (European Commission) |
| 11.00-12.40 |
Session: Policies and economic dynamics
Chair: Eric Girardin (GREQAM, Université Aix-Marseille) |
| |
Shang-Jin Wei (Columbia Business School):
Sex ratios and exchange rates
> Discussant: Kari Heimonen (University of Jyväskylä) |
| |
John Knight (University of Oxford) and Wei Wang (University of Oxford):
China's Macroeconomic Imbalances: Causes and Consequences
> Discussant: José-Maria Martinez (Banco de España) |
| 14.00-16.30 |
Session: Chinese financial system
Chair: Tuuli Koivu (Bank of Finland) |
| |
Ningyue Liu (University College Dublin), Don Bredin (University College Dublin), Liming Wang (University College Dublin) and Zhihong Yi (Renmin University of China):
Domestic and Foreign Institutional Investor Behavior in China
> Discussant: Timo Korkeamäki (Hanken School of Economics and Bank of Finland) |
| |
Su Qian Kong, Lucia Morales and Joseph Coughlan (Dublin Institute of Technology):
An Analysis of the Chinese Stock Market during the Global Financial Crisis
> Discussant: Mika Vaihekoski (Turku School of Economics) |
| |
Alicia García-Herrero (BBVA):
China’s banking system risks . |