Deciphering the Future of Finance: Exploring the Cutting Edge of Payments, Blockchain, and Monetary Policy at the Annual RBOPS Conference
The annual Research in Behavioral Operations and Policy Symposium (RBOPS) conference is a premier event that brings together leading experts, researchers, and policymakers to explore the latest trends and developments in the financial industry. This year's edition, set to take place from August 19th to August 23rd, 2024, promises to be a captivating exploration of the cutting edge of payments, blockchain technology, and monetary policy. From examining the impact of consumer credit regulation on lender market power to delving into the complexities of digital currency adoption, the diverse array of sessions promises to provide valuable insights and thought-provoking discussions.Unlocking the Future of Finance: Innovative Insights from the RBOPS Conference
Welcome Remarks and Opening Addresses
The conference will kick off with welcome remarks from Matthew Eichner, the Director of RBOPS, and an opening address by Governor Christopher J. Waller. These opening sessions will set the tone for the week, providing an overview of the key themes and priorities that will be explored throughout the event.Parallel Sessions on Consumer Credit, Blockchain, and Currency Competition
The first day of the conference will feature a series of parallel sessions, each delving into distinct facets of the financial landscape. In Session 1A, researchers will examine the interplay between consumer credit regulation and lender market power, offering insights into how these dynamics shape the lending landscape. Concurrently, Session 1B will focus on the emerging world of blockchain technology, with discussions on blockchain congestion and the economic security of decentralized ledgers.Plenary Sessions on Inflation, Payments, and Financial Fragility
The conference will also feature a series of plenary sessions, addressing some of the most pressing issues in the financial sector. In Plenary Session 2, experts will revisit the relationship between inflation and unemployment, shedding light on the long-term implications of these economic forces. Additionally, Plenary Session 2 will explore the intricate connections between payments, reserves, and financial fragility, providing a deeper understanding of these critical components of the financial ecosystem.Parallel Sessions on Innovation, Venture Capital, and Derivative Market Liquidity
The second day of the conference will see a continued focus on cutting-edge topics, with parallel sessions delving into the dynamics of innovation, venture capital, and derivative market liquidity. Session 2A will examine the role of liquidity stockpiling in driving innovation, while Session 2B will explore the impact of information friction on the liquidity of over-the-counter (OTC) interdealer markets.Plenary and Parallel Sessions on Corporate Bonds, Instant Payments, and Monetary Policy
The third day of the conference will feature a mix of plenary and parallel sessions, addressing a range of critical issues. Plenary Session 3 will explore the underlying reasons for the prevalence of corporate bonds that pay coupons, providing a deeper understanding of this financial instrument. Parallel Session 3A will delve into the interplay between money markets, collateral, and monetary policy, while Session 3B will examine the effects of instant payments on the banking system, focusing on liquidity transformation and risk-taking.Plenary and Parallel Sessions on Intermediary Contracts, Monetary Models, and Strategic Debt
The fourth day of the conference will continue the exploration of cutting-edge topics, with Plenary Session 4 addressing the design of optimal intermediary contracts. Parallel Session 4A will investigate the role of hand-to-mouth behavior and marginal propensities to consume in heterogeneous agent new-monetarist models, while Session 4B will examine the strategic use of debt in a monetary economy.Plenary and Parallel Sessions on Digital Currencies, Liquidity Reallocation, and Bank Balance Sheets
The penultimate day of the conference will delve into the rapidly evolving world of digital currencies and their implications. Plenary Session 5 will explore the interplay between asset liquidity, private information acquisition, and monetary policy, while Parallel Session 5A will focus on liquidity reallocation and run resolution. Session 5B will delve into the theory of bank balance sheets, providing valuable insights into this foundational aspect of the financial system.Plenary and Parallel Sessions on Digital Currencies, Leverage, and Monetary Policy Consequences
The final day of the conference will feature a range of thought-provoking sessions. Plenary Session 6 will examine the data externalities, market power, and the optimal design of central bank digital currencies, while Parallel Session 6A will explore the programmability and uniformity of digital currencies. Plenary Session 7 will address the complex relationship between leverage, endogenous unbalanced growth, and asset price bubbles, and Parallel Session 7A will investigate the monetary policy consequences of financial stability interventions, using the recent UK LDI crisis as a case study.Poster Sessions and Closing Remarks
Throughout the conference, attendees will have the opportunity to engage with researchers during the poster sessions, where they can delve deeper into a wide range of topics, from collateral and credit history to the dynamics of dollar adoption and the impact of bank loan portfolios on monetary transmission.The conference will conclude with closing remarks from David Mills, who will synthesize the key takeaways and insights garnered over the course of the week, setting the stage for future advancements in the field of financial research and policy.
