Workshops

81st East Jour Fixe of the Oesterreichische Nationalbank

• Program (PDF, 141 kB)

Session 1

• Stephan Barisitz: NPLs in CESEE: Snapshot of their definitions and recent development (PDF, 813 kB)
• Reiner Martin: The resolution of Non-Performing Loans in the euro area (PDF, 204 kB)
• Miquel Dijkman: Nonperforming loans in CESEE (PDF, 307 kB)

Session 2

• Elisabeth Beckmann, Helmut Stix: Determinants of household loan arrears in CESEE (PDF, 645 kB)
• Peter Grasmann: An EU strategy for tackling NPLs (PDF, 206 kB)
• Tomislav Ridzak: The case of AGROKOR: assessing the impact on Croatia’s banking system and economy (PDF, 462 kB)

Session 3

• Ines Rocha: Vienna Initiative 2.0: NPLs: best practices and differences between countries (PDF, 702 kB)
• Imre Balogh: Slovenia’s experience with NPL resolution (PDF, 1.1 MB)
• Anete Daukste: How have markets for NPL sales in CESEE developed? (PDF, 487 kB)

Workshop and Book presentation

• Book presentation „Focus on External Trade 2016/2017“ (Program) (PDF, 156 kB)
• Christian Ragacs, Klaus Vondra (OeNB) – Global economic environment and developments in world trade – Austrian economic activity and price competitiveness – Austria’s trade in services (PDF, 956 kB)
• Leonhard Pertl (WKÖ) – Austria’s foreign trade in goods – recent developments (PDF, 544 kB)
• Barbara Tasch-Ronner (WKÖ) – Recent developments in the trade policy of the European Union (PDF, 169 kB)
• Thomas Cernohous (OeNB) – Recent developments in Austria’s direct investments (PDF, 309 kB)
• Ursula Kriebaum (University of Vienna) – From arbitration to court: the difference between classical bilateral investor protection treaties and investment protection chapters in EU treaties (PDF, 35 kB)
• Thomas Cernohous (OeNB) – FATS and FDI statistics: Close connections, different focus (PDF, 283 kB)
• Gabor Hunya (WIIW) – The Vienna Institute for International Economic Studies Recent FDI trends in Central, East and Southeast Europe (CESEE) (PDF, 196 kB)
• Edvard Orlic (Bournemouth University) – Determinants of global value chain participation in CESEE (PDF, 531 kB)
• Arnold Schuh (Vienna University of Economics and Business) – FDI in Central and Eastern Europe - the business perspective (PDF, 611 kB)
• Hanni Grassauer (ABA – Invest in Austria) – International companies locating in Austria: a major economic driver (PDF, 746 kB)

80th East Jour Fixe of the Oesterreichische Nationalbank

• Program (PDF, 60 kB)

Session 1

• Florian Neagu: Experiences of Romania (PDF, 960 kB)
• Zornitsa Vladova: Experiences of Bulgaria (PDF, 209 kB)

Session 2

• Mariana Hristcheva: Progress in the implementation of EU structural and investment funds (PDF, 960 kB)
• William Sleath: Progress on judicial reform, corruption and organized crime in the framework of the cooperation and verfication mechanism (PDF, 58 kB)

Session 3

• Gabor Hunya: The role of FDI and trade in the catching-up process (PDF, 131 kB)
• Anna Ilyina: Emigration and its economic impact on Eastern Europe (PDF, 943 kB)

European Investment Bank (EIB)/OeNB-Workshop „Investment and Investment Finance – The Austrian case”

As part of a series of events organized to debate current trends in investment and investment finance at the national level in different EU Member States, the EIB is co-organising a half-day conference on “Investment and Investment Finance – The Austrian Case” with the Austrian Central Bank. The EIB’s annual report on “Investment and Investment Finance in Europe” provides an overview of the cyclical and structural dynamics behind investment and financing choices in Europe. This year’s edition reveals that although investment is recovering in Europe, that recovery is slow and uneven among countries and asset classes. At the EU level, public infrastructure investment is significantly behind long-term trends as fiscal consolidation policies have been penalising gross fixed capital formation. The corporate sector is driving the slow recovery of investment but the dynamics are disappointing and a significant gap in terms of “quality” of the capital stock can be detected. Understanding the reasons behind this slow recovery in investment is key to defining appropriate intervention policies. In this context, the EIB has launched a new initiative – the annual EIB Investment Survey (EIBIS), which collects qualitative and quantitative data from 12,500 SMEs and larger non-financial companies in all 28 EU member states. The data covers information on firm characteristics and performance, past investment activities and future plans, sources of finance, and challenges that businesses face. Beyond the presentation of these findings, the event with enable a broader debate on investment needs and priorities. It will target a group of economists, policymakers, and representatives from financial institutions and the business community.
 

• Program (PDF, 112 kB)
• Summary (PDF, 168 kB)
• EIBIS 2016 – EIB Group Survey on Investment and Investment Finance 2016 – Country Overview: Austria (PDF, 3.4 MB)

Presentations

• Gerhard Fenz, Martin Schneider – Investment in Austria – Stylized Facts (PDF, 850 kB)
• Debora Revoltella – Investment and Investment Finance – The EU and the Austrian Story (PDF, 602 kB)
• Werner Hölzl, Gerhard Schwarz – Investment in Austria: a view from the WIFO Investitionstest (PDF, 637 kB)
• Claudia Kwapil, Walter Waschiczek – The role of finance in corporate investment in Austria (PDF, 735 kB)
• Flavia Palanza – Road ahead – how to enhance investment in Austria (PDF, 1 MB)
• Christoph Schneider – Business perspective and policy recommendations (PDF, 442 kB)
• Bernhard Sagmeister – Collateral squeeze – challenges for corporate finance in Austria (PDF, 1.4 MB)
• Ulrich Schuh – Stimulating Investment in Austria (PDF, 89 kB)

Workshop

• Program (PDF, 155 kB)
• Peter Praet (Member of the Executive Board ECB) – Opening address (PDF, 218 kB)
• Vice-Governor Andreas Ittner – The horses and the carriage (Remarks) (PDF, 179 kB)

Session 1: Bank profitability

• Kerbl, Sigmund – From low to negative rates: an asymmetric dilemma (Paper) (PDF, 552 kB)
• Kerbl, Sigmund – From low to negative rates: an asymmetric dilemma (Presentation) (PDF, 691 kB)
• Binici – From low to negative rates: an asymmetric dilemma (Discussion) (PDF, 568 kB)

Session 2: Monetary policy transmission

• Albertazzi, Nobili, Signoretti – The bank lending channel of conventional and unconventional monetary policy: evidence from a panel of euro-area banks (Paper) (PDF, 680 kB)
• Albertazzi, Nobili, Signoretti – The bank lending channel of conventional and unconventional monetary policy: evidence from a panel of euro-area banks (Presentation) (PDF, 762 kB)
• Mésonnier – The bank lending channel of conventional and unconventional monetary policy: evidence from a panel of euro-area banks (Discussion) (PDF, 367 kB)
• Boeckx, De Sola Perea, Peersman – The transmission mechanism of credit support policies in the euro area (Paper) (PDF, 754 kB)
• Boeckx, De Sola Perea, Peersman – The transmission mechanism of credit support policies in the euro area (Presentation) (PDF, 911 kB)
• Lenza – The transmission mechanism of credit support policies in the euro area (Discussion) (PDF, 114 kB)

Keynote

• Ongena: Changes in the cost of bank equity and the supply of bank credit (Paper) (PDF, 372 kB)
• Ongena – Changes in the cost of bank equity and the supply of bank credit (Presentation) (PDF, 1.9 MB)

Session 4: Bank capital and the cost of equity

• Boucinha, Holton, Tiseno – Bank equity valuations and credit supply (Paper) (PDF, 657 kB)
• Boucinha, Holton, Tiseno – Bank equity valuations and credit supply (Presentation) (PDF, 816 kB)
• Andrade – Bank equity valuations and credit supply (Discussion) (PDF, 147 kB)

Session 5: Banking sector and firms access to finance

• Ferrando, Popov, Udell – Do SMEs benefit from unconventional monetary policy and how? Micro-evidence from the Eurozone (Paper) (PDF, 389 kB)
• Ferrando, Popov, Udell – Do SMEs benefit from unconventional monetary policy and how? Micro-evidence from the Eurozone (Presentation) (PDF, 535 kB)
• Mayordomo, Rodriguez-Moreno – Support is appreciated: on the effectiveness of the SME supporting factor (Paper) (PDF, 593 kB)

EMU Forum 2016

79th OeNB East Jour Fixe of the Oesterreichische Nationalbank

• 79th OeNB East Jour Fixe – Program (PDF, 101 kB)

Keynote address

• Joshua Aizenman – International capital mobility in the 21st century – mind the gaps (PDF, 958 kB)

Session 1

• Emil Stavrev – CESEE external funding patterns and risks (PDF, 815 kB)
• Markus Eller – Global drivers of capital flows to CESEE over time: A dynamic factor analysis (PDF, 4.5 MB)

Session 2

• John Beirne – Macroprudential policies, capital flows, and the structure of the banking sector (PDF, 525 kB)
• Deniz Igan – Credit booms and capital flows: role of financial systems and policies (PDF, 296 kB)
• Kiril Kossev – Using macroprudential measures and capital flow measures: the value of international cooperation (PDF, 757 kB)

Panel

• Evžen Kočenda – Taming capital flow cycle in CESEE (PDF, 126 kB)

78th East Jour Fixe of the Oesterreichische Nationalbank in cooperation with the wiiw

• Program (PDF, 68 kB)

Session 1

• Dmytro Sologub – Challenges for monetary policy and financial stability (PDF, 670 kB)
• Jerome Vacher – The current IMF program: Key aspects and implementation (PDF, 2.4 MB)
• Vasily Astrov – Ukraine’s macroeconomic situation and the IMF program (PDF, 253 kB)

Session 2

• Olena Bilan – Reform progress and the way forward (PDF, 984 kB)
• Daria Kaleniuk – The fight against corruption (PDF, 1 MB)

Session 3

• Amat Adarov and Peter Havlik – External trade in the light of the DCFTA (PDF, 1.1 MB)
• Stephan Barisitz – Banking sector developments (PDF, 811 kB)

Workshop

Workshop