Financial Regulation and Macroeconomic Stability – Key Issues for the G20

London, UK

January 31, 2009



This conference hosted with the support of the G20 and the CEPR analyzed a wide array of reform proposals the G20 might consider in order to address the crisis and more particularly the fact that as financial troubles deepen, the temptation for each individual country to free ride increases and the need for coordination becomes more evident. The proceedings from this event were summarized in an e-book published by the CEPR and entitled Macroeconomic Stability and Financial Regulation: Key issues for the G20. In keeping with the conception and the title of this book, the seminar stressed as a key issue the short-run policy imperative. It was also argued that neither monetary nor fiscal policies would work unless, and until, the blockages in the supply of credit were resolved. A strong case was also made for restoring to near-normal conditions financial intermediation and the structure supporting it in order to stop the accelerating decline.



  • Carlos TRUCHARTE: Economist, Bank of Spain
  • Charles BEAN: Deputy Governor, Bank of England
  • Guy AMERICA: Managing Director and European Head of Credit Trading, JP Morgan
  • Hendrik HAKENES: Professor of Financial Economics, Leibniz Universitat Hannover
  • Isabel SCHNABEL: Professor of Financial Economics, Johannes Gutenberg Universitat Mainz and CEPR
  • Jean Charles ROCHET: Professor of Economics, Toulouse School of Economics and CEPR
  • Jesus SAURINA: Director, Financial Stability Department, Bank of Spain
  • Jeyoon SHIN: Deputy Minister, Republic of Korea
  • Lesejta KGANYAGO: Director General, Department of Treasury South Africa
  • Luigi BUTTIGLIONE: Head of Global Strategy, Partner Brewan Howard
  • Marc UZAN: Executive Director, Reinventing Bretton Woods Committee
  • Marco BECHT: Professor of Finance, Universite Libre de Bruxelles and CEPR
  • Marco BUTI: Director General, DG Economic and Financial Affairs, European Commission
  • Marco PAGANO: Professor of Economics, Universita di Napoli Federico II and CEPR
  • Mark SOBEL: Deputy Assistant Secretary, International Affairs, Department of Treasury
  • Markus BRUNNERMEIER: Edwards S. Sanford Professor of Finance and Economics, Princeton University and CEPR
  • Mathias DEWATRIPONT: Professor of economics, Universite Libre de Bruxelles and CEPR
  • Muhammad AL JASSER: Vice Governor, Saudi Arabian Monetary Agency
  • Ousmene MANDENG: Head Public Sector Investment Advisory, Ashmore Investment
  • Paolo VOLPIN: Associate Professor of Finance, London Business School and CEPR
  • Patricia JACKSON: Partner, Ernst & Young
  • Philip LANE: Professor of Economics, Trinity College, Dublin and CEPR
  • Rafael REPULLO: Director of the Center for Monetary and Financial Studies CEMFI and CEPR
  • Rakesh MOHAN: Deputy Governor, Reserve Bank of India
  • Richard PORTES: Professor of Economics, London Business School and President, CEPR
  • Stefan GERLACH: Professor of Economics, University of Frankfurt and CEPR
  • Sylvie MATHERAT: Head, Financial Stability Directorate, Bank of France
  • Takatoshi ITO: Professor of Economics, University of Tokyo and CEPR
  • Willem BUITER: Professor of Political Economy, London school of Economics and CEPR

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