Sunday, November 18, 2018

• 19:00-20:30
  Welcome Reception [Ruby Hall, 22F, The Plaza Hotel, Seoul]

Monday, November 19, 2018

• 8:30-9:00
  Coffee and Pastries
• 9:00-9:10
  Opening Remarks Juyeol Lee (Governor, The Bank of Korea)
• 9:10-9:30
  Photo Session
• 9:30-10:50
  Paper 1: On the global impact of risk-off shocks and policy-put frameworks
• Chair
  Hiroto Uehara (Head of International Coordination Division, Bank of Japan)
  Authors
  Ricardo Caballero (Professor, Massachusetts Institute of Technology) Gunes Kamber (Senior Economist, BIS)
  Discussant
  Piti Disyatat (Director of Economic Research, Bank of Thailand)
• 10:50-11:10
  Coffee Break
• 11:10-12:30
  Paper 2: Determinants of sovereign local currency bond yields: The case of Asia-Pacific
• Chair
  Mary Jane Chiong (Managing Director, Bangko Sentral ng Pilipinas)
  Authors
  Mikhail Chernov (Professor, UCLA Anderson School of Management) Drew Creal (Associate Professor, The University of Norte Dame) Peter Hordahl (Principal Economist, BIS)
  Discussant
  Min Wei (Deputy Associate Director, Federal Reserve Board)
• 12:30-13:50
  Lunch [Maple Hall, 4F, The Plaza Hotel, Seoul]
• 13:50-15:10
  Paper 3: Corporate bond market liquidity in emerging markets : The case of Malaysia
• Chair
  Mahabala Rajeshwar Rao (Executive Director, Reserve Bank of India)
  Authors
  Allaudeen Hameed (Professor, National University of Singapore) Frank Packer (Regional Adviser, BIS)
  Discussant
  Dragon Tang (Professor, Hong Kong University)
• 15:10-16:30
  Paper 4: The rise of benchmark bonds: de jure and de facto benchmarks in emerging Asia
• Chair
  Seung Beom Koh (Member of Monetary Policy Board, The Bank of Korea)
  Authors
  Eli Remolona (Visiting Professor, Williams College) James Yetman (Principal Economist, BIS)
  Discussant
  Terence Chong (Associate Professor, Chinese University of Hong Kong)
• 16:30-17:00
  Coffee Break
• 17:00-18:00
  Keynote Address : The term structures of global yields
• Chair
  Benoit Mojon (Head of Economic Analysis, BIS)
  Speaker
  Emanuel Mönch (Head of Research, Deutsche Bundesbank)
• 18:30-20:30
  Conference Dinner [FARO Grand, 36F, Mirae Asset Center 1, Seoul]

Tuesday, November 20, 2018

• 8:00-8:30
  Coffee and Pastries
• 8:30-9:50
  Paper 5: Local currency bond returns, foreign investors and portfolio flows in emerging markets
• Chair
  Wook Sohn (Director General, The Bank of Korea)
  Authors
  Giorgio Valente (Senior Economist, Hong Kong Institute for Monetary Research) Inhwan So (Economist, Bank of Korea) Jason Wu (Head of Economic Research, Hong Kong Monetary Authority)
  Discussant
  Jie (Jay) Cao (Associate Professor, Chinese University of Hong Kong)
• 9:50-11:10
  Paper 6: Corporate bond use in Asia and the U.S.
• Chair
  Wook Sohn (Director General, The Bank of Korea)
  Authors
  Gregory Duffee (Professor, Johns Hopkins University) Peter Hordahl (Principal Economist, BIS)
  Discussant
  Vidhan Goyal (Professor, Hong Kong University of Science and Technology)
• 11:10-11:30
  Coffee Break
• 11:30-12:50
  Paper 7: The role of different institutional investors in Asia-Pacific bond markets during the Taper Tantrum
• Chair
  Siddharth Tiwari (Chief Representative, BIS)
  Authors
  David Ng (Professor, Cornell University) Ilhyock Shim (Principal Economist, BIS) Jose Maria Vidal Pastor (BIS)
  Discussant
  Johan Sulaeman (Associate Professor, National University of Singapore)
• 12:50-14:00
  Lunch [Maple Hall, 4F, The Plaza Hotel, Seoul]
• 14:00-15:20
  Policy Panel: Challenges in fostering Asian local currency bond markets
• Chair
  Hyun Song Shin (Economic Adviser and Head of Research, BIS)
  Panelists
  Yoga Affandi (Director, Bank Indonesia) Joon-Ho Hahm (Professor, Yonsei University) Cho-hoi Hui (Division Head, Hong Kong Monetary Authority) Amporn Sangmanee (Senior Director, Bank of Thailand)
• 15:20-15:30
  Closing Remarks Hyun Song Shin (Economic Adviser and Head of Research, BIS)