This article synthesizes major insights from the conference, embedding them in a broader overview of populism’s interactions with economic policies and central banking. Section 1.1 discusses what “economic populism” might mean, and proposes a comprehensive definition. Section 1.2 offers some economic lines of reasoning for the rise of populism. Section 1.3 summarizes some ways how economic policies may counter populism. Section 1.4 explores how populism and central banking may affect each other. Section 1.5 summarizes and concludes.
The conference will be staged as a court trial in which cash will be accused with three charges: First, cash is an essential part of many kinds of criminal activities; second, it is an inefficient and outdated means of payment; and third, it prevents central banks from implementing optimal monetary policy in times when price stability would require negative interest rates. To spur a lively discussion we intend to develop the conference in a defense and prosecution part, where witness’ are called to elaborate on the charges. Additional presentations will provide a neutral overview of the current situation of the use of cash in the Eurosystem and of ideas to develop a digital cash by central banks.
Which are the effects in combining ideas from psychology and monetary economics? The aim of the workshop is to discuss how the new insights from behavioural economics can shape the demand and the supply of currency, considering both inside and outside money and including the recent debate on e-coin (central bank digital currencies) on the one side, and on bit-coin (private crypto currencies) on the other side.
Shadow banking is a broad concept. A possible definition is that it comprises non-bank institutions which undertake bank-like activities. Another characteristic is that the sector is overall less regulated. Therefore there are still shortcomings in systematic collection of information of the sector.
On 23rd February 2017, SUERF and EY organized a conference on “Brexit and the Implications for Financial Services” at EY’s offices, Churchill Place, Canary Wharf, London. While the outcome of the Brexit negotiations remains highly uncertain, the conference discussed the burning questions for financial firms, markets and regulators with a range of different viewpoints expressed on a number of important themes: the systemic risks from Brexit; the possible role of equivalence versus passporting to continue to facilitate cross-European financial transactions; the effects on the deep wholesale markets located in London and the question as to whether the sheer size and interconnectedness of London as a financial center implied that it would still act as a magnet for European business; the effects on Europe if the result created fragmentation of markets and CCPs; and the implications for bank, insurer and asset manager business models, in particular whether Brexit would act as a catalyst for restructuring and retrenchment from activity in the EU27.
