5th CEMLA/Dallas Fed Financial Stability Workshop

Call for papers

The Center for Latin American Monetary Studies (CEMLA) and the Federal Reserve Bank of Dallas invite theoretical and empirical submissions focusing on the interplay between financial intermediation, banking, macro-financial risks and financial stability. Submissions may address, but are not limited to, the following topics:

• International finance, external dollar funding and the global financial cycle: Capital flows, external dollar funding and dollar liquidity, sovereign debt sustainability, bond markets, global financial spillovers and cross-border banking and capital-market transmission.
• Macroprudential policy and NBFI resilience: Macroprudential design and transmission, systemic risks in non-bank financial intermediation, market liquidity, funding fragilities, leverage, contagion, stress testing and policy tools for NBFIs.
• Digital finance, payments and crypto assets: Cross-border payments, payment-system resilience, instant payments, crypto assets, stablecoins, DeFi, tokenization, CBDCs and financial inclusion through payments.
• Artificial intelligence and financial-stability risk monitoring: AI adoption in finance, implications for financial stability, model and data risk, supervisory technology, financial-stability surveillance, data gaps, early-warning systems and stress-testing infrastructure.
• Geopolitical fragmentation, liquidity risk, real estate and asset-market vulnerabilities: Geopolitical tensions, trade fragmentation, liquidity risk, market functioning, commercial and residential real estate, asset valuations, bond-market strains and fragile balance sheets.

CEMLA invites submissions for a special sponsored session dedicated to discussing outstanding research relevant for Latin America and the Caribbean. Authors indicating a preference for a dual-track submission will have publication opportunities in the Latin American Journal of Central Banking and funding to support their participation in the workshop.

There are no registration or submission fees; however, participants are expected to cover their travel expenses. Each accepted paper will be paired with an invited discussant.

Materials from the previous workshop can be viewed online.

Dissemination policy: Selected papers and presentations will be made available on the conference website and may be livestreamed or recorded for public dissemination (e.g., via YouTube). These materials will not be formally published in any journal or conference proceedings.

Important dates

Submit papers to fsworkshop@cemla.org with subject line “Submission — FSW” by July 31, 2026. Authors of accepted papers will be notified in August 2026.

Keynote speaker

• To be confirmed

Scientific committee

• Iñaki Aldasoro, Bank for International Settlements
• Rashad Ahmed, Andersen Institute for Finance and Economics
• Óscar Arce, European Central Bank
• Douglas Araujo, Banco Central do Brasil
• Pablo Daniel Azar, Federal Reserve Bank of New York
• Rhys Michael Bidder, Independent consultant / executive education; former King's College London
• Valentina Bruno, American University
• Georgia Bush, Banco de México
• Stephen G. Cecchetti, Brandeis University
• Eugenio Cerutti, International Monetary Fund
• Nicola Cetorelli, Federal Reserve Bank of New York
• Jens Christensen, Federal Reserve Bank of San Francisco
• Christopher Clayton, Yale School of Management
• Ricardo Correa, Federal Reserve Board
• Scott Davis, Federal Reserve Bank of Dallas
• Peter Karlström, CEMLA
• Gustavo Leyva, CEMLA
• Robin Lumsdaine, American University
• Camelia Minoiu, Federal Reserve Bank of Atlanta
• Karsten Müller, NUS
• Matias Ossandon Busch, Banco de España
• Ali Ozdagli, Federal Reserve Bank of Dallas
• Alessio Saretto, Federal Reserve Bank of Dallas
• Andreas Uthemann, Bank of Canada
• Emil Verner, Massachusetts Institute of Technology
• Yao Zeng, Wharton School, University of Pennsylvania

Program co-chairs

• Enrique Martínez García, Federal Reserve Bank of Dallas
• Peter Karlström, CEMLA
• Gustavo Leyva, CEMLA