The Fixed Income Conference brings together academic researchers and central bankers working on how bond markets price risk and transmit monetary policy. It has met roughly every two years since 2006.
The series
The series began in 2006 as a forum on fixed-income markets, broadening toward macro-finance and the interaction between macroeconomic forces and the institutional structure of fixed-income markets — government debt supply, investor demand, dealer balance sheets, liquidity, safe assets and global funding markets — with a consistent emphasis on implications for monetary policy and financial stability.
The conference has been co-organized with different partners over the years, among them the Banco de España in 2011 and the Beedie School of Business at Simon Fraser University in 2017. It is now a joint effort of the Bank of Canada, the Federal Reserve Bank of San Francisco and the Federal Reserve Bank of Chicago.
Editions
- 10th Conference on Fixed Income Markets Details and a call for papers will be posted closer to the date.
- 9th Conference on Fixed Income Markets Dealer and intermediary constraints throughout: primary-dealer balance sheets, reaching for duration and leverage in the Treasury market, granular Treasury demand systems, and the long-run level of real rates. Keynote by Annette Vissing-Jørgensen on balance-sheet policy above the effective lower bound. Program (PDF)
- 8th Conference on Fixed Income Markets The first in-person meeting after the pandemic: government debt management and inflation, the benchmark greenium, swap spreads, safe-asset scarcity and convenience yields around the world. Keynote by Anna Cieslak. Program (PDF)
- 7th Conference on Fixed Income Markets The modern agenda arrives fully formed: safe assets, supply and demand for government debt, financial intermediation, repo markets and quantitative easing, and international bond and currency markets. Dinner keynote by Darrell Duffie. Program (PDF)
- 6th Conference on Fixed Income Markets Central bank communication and the channels of quantitative easing, alongside Interest Rates Under Falling Stars — the trend-decline literature arriving in the series. Keynote by Tobias Adrian of the International Monetary Fund. Program (PDF)
- 5th Conference on Fixed Income Markets The first edition hosted by the San Francisco Fed: quantitative easing and central bank reserves, macro risks in the yield curve, and the first sustained attention to financial stability — reaching for yield, and repo collateral. Dinner keynote by Athanasios Orphanides. Program (PDF)
- 4th Conference on Fixed Income Markets Monetary-policy expectations at the zero lower bound, bond pricing in DSGE models, and a strong methodological strand on linear estimation of dynamic term-structure models. Luncheon addresses by Gregory Duffee and James Hamilton. Program (PDF)
- 3rd Conference on Fixed Income Markets The first event held outside Canada, run jointly with the Banco de España during the euro-area sovereign debt crisis: inflation expectations, sovereign bond and CDS pricing, international term-structure models, and a closing panel on using these models for central bank policy advice. Program (PDF)
- 2nd Conference on Fixed Income Markets Held on the Friday before the Lehman Brothers weekend: term premium dynamics and the Taylor rule, bond supply and excess returns, the countercyclicality of bond premia — and, on the same agenda, subprime home equity derivatives, residential mortgage credit derivatives and a paper titled A Black Swan in the Money Market. Program (PDF)
- 1st Conference on Fixed Income Markets Where the series started: transaction costs and liquidity in corporate and government bond markets, price discovery between cash and futures, jumps and volatility in the term structure, and the first multi-country term-structure models. John Kuszczak Memorial Lecture by Kenneth Singleton. Program (PDF)
Mini-workshops
Two short online meetings kept the series going through the pandemic. They are not counted as numbered editions.
- Advances in Fixed Income and Macro-Finance Research Program (PDF)
- Advances in Fixed Income and Macro-Finance Research Program (PDF)
Tracking the papers
Of the 113 research papers presented across the nine numbered editions, 63 have appeared in peer-reviewed journals and one more is forthcoming. Keynotes, policy talks, panels and discussions are excluded from the count.
- 113papers presented
- 12.6papers an edition, on average
- 64%published, editions through 2019
- 25in the finance top three
- 3years, median publication lag
Mature cohorts — at least seven years to publish 2023 and 2025 — too early to tell
Mature cohorts 2023 and 2025 — too early to tell
One thing this chart does not say. An impact factor belongs to a journal, not to a conference: these bars record where papers presented here eventually appeared, and nothing more. They are not a measure of the impact of the conference or of the series, and none is claimed.
About this archive
The programs above come from different kinds of source, and it is worth being clear about which is which. The 2013 and 2017 programs are the original files as circulated by the organizers. The 2011, 2015, 2019 and 2025 programs, and both mini-workshops, are complete transcriptions of the official Bank of Canada, Federal Reserve Bank of San Francisco and Banco de España records. The 2023 program was retrieved from the organizers’ archive.
Two editions remain incomplete. For 2006, no standalone program has been found; the version here is reconstructed from the Bank of Canada Review’s published conference summary. For 2008, the surviving official record preserves the ordered list of papers and discussants but not the session times, chairs or headings — so those are left blank rather than invented. If you have an original file for either year, I would be glad to hear from you.