26 September 2016

Presentation on the financial cycle at an international conference in the Philippines

Thorvardur Tjorvi Olafsson

Last week, Thorvardur Tjörvi Ólafsson, Senior Economist at the Central Bank of Iceland, gave a presentation in Manila at the 6th International Research Conference of the Bangko Sentral ng Pilipinas. The title of the conference was 6th BSP International Research Conference - Revisiting macro-financial linkages: Looking back and looking ahead.

In his presentation, Tjörvi, presented the results of a new working paper on the financial cycle in Iceland over a period spanning more than a century. The authors of the working paper, in addition to Tjörvi, are Bjarni G. Einarsson, Kristófer Gunnlaugsson, and Thórarinn G. Pétursson. The paper will be published in a Bangko Sentral ng Pilipinas conference volume in 2017. The presentation focused on the definition and measurement of the financial cycle, its main characteristics, and how strikingly strong the spillovers from the global financial cycle seem to be, notwithstanding a wide variety of policy and openness regimes over this long period.

The slides from the presentation can be found here.
Further information on the conference can be found here.

Related material:

Working Paper No. 72

Dataset used in the analysis in the paper.


Presentations on the financial cycle in Iceland at international and domestic conferences and seminars:

Presentation at the 10th Nordic Summer Symposium in Macroeconomics, held in Ebeltoft 10-13 August 2016

Presentation at the joint Central Bank of Iceland, IMF, and the Systemic Risk conference Capital Flows, Systemic Risk and Policy Responses, held in Reykjavík 28-29 April 2016

Presentation at a seminar at Danmarks Nationalbank, held 12 April 2016

Presentation at the 5th NBRM Research Conference - Economic and financial cycle spillovers: Reconsidering domestic and cross-border channels and policy responses, held in Macedonia 7 April 2016

Seminar at Íslandsbanki, held 9 March 2016

Seminar at the Central Bank of Iceland, held 23 February 2016