Capri (Italy), May 24-26, 2006


The Architecture of Financial System Stability:
From Market Micro Structure to Monetary Policy

in Capri (Italy), May 24-26, 2006

organized by Pierre L. Siklos (Wilfrid Laurier University)
and Martin T. Bohl (University of Münster)



Call for Papers

Please find the detailed "Call for Papers" here.



Please find the detailed "Program" here.



  • Q. Farooq Akram - Flexible Inflation Targeting and Financial Stability: Is it Enough to Respond to Output?
  • Irani Arraiz - Default, Settlement, and Repayment History: A Unified Model of Sovereign Debt
  • Michael Ehrmann - Global Financial Transmission of Monetary Policy Shocks
  • Helmut Elsinger - Risk Assessment for Banking Systems
  • Gur Huberman - Correlated Trading and Returns
  • David G. Mayes - Responsibility without Power: Nordic and Antipodean Solutions to the Problem of Foreign-Owned Systemic Bank Branches
  • Bruce Mizrach - The Microstructure of Bond Market Tatonnement
  • Jose Gonzalo Rangel - Macroeconomic Announcements, Price Discovery, and Order Flow Effects in the Stock Market: Evidence from Incomplete Data and Multiple Financial Markets
  • Klaus Schaeck - Are Competitive Banking Systems More Stable?
  • Stefano Shiavo - Euro Bonds: In Search of Financial Spillovers
  • Charles A. E. Goodhart - Searching for a Metric for Financial Stability



Presenters and discussants stay in the Hotel La Palma in Capri, Italy.



Workshop participants arriving at Naples airport should travel by Alibus to the destination Piazza Municipio final station. We recommend taking the Alibus because it is cheap (May 2005: 3.00 €), the price is known and the bus is comfortable. Taxi is an alternative but more expensive.
At the final station you see a castle. Behind this castle is the port "Porto di Napoli". At "Molo Beverello" buy a ticket to Capri via hydrofoil. The price for a round trip was 22,00 € in May 2005.

After leaving the hydrofoil go to the right and buy a ticket for the cable car (May 2005: 1.30 €). The cable car starts at the "Funicolare" station which is near by the ticket shop.

Recommendation: Minimize luggage! In general, it is very convenient to go from Naples airport to Capri. However, the way described above implies a bit of walking.



Prof. Dr. Martin T. Bohl
Westfälische Wilhelms-Universität Münster
Chair of Monetary Economics
Am Stadtgraben 9
48143 Muenster
Phone: +49 251 83 25 005
Fax:       +49 251 83 22 846