Joint Conference on Financial Intermediation at Queen’s Economics Department

By Ken Chow, Queen’s University

On May 8th, 2018, the Queen’s Economics Department hosted the second annual workshop on Financial Intermediation and Regulation, jointly hosted by the Bank of Canada and the John Deutsch Institute. The conference brought together some of the world’s leading experts in finance and industrial organization to present and discuss their latest research. The conference covered interesting topics relating to finance and regulations including the impact of shadow banking on monetary policy [1], the strategic use of trade credit in retail supply chains [2], the dealers’ and investors’ bidding behaviour in Canadian treasury bills auctions [3], and how the current selection process of arbitrators in the US favours the repeat selection of industry-friendly arbitrators. [4]

A key feature of this conference is the emphasis put on the policy implications of academic research. In particular, the rise of the shadow banking sector in the last few decades have attracted the attention of academic researchers, central bankers and policymakers worldwide, making Kairong Xiao’s paper titled “Monetary Transmission through Shadow Banks” a very timely inclusion to the conference. To illustrate the importance of the shadow banking system, note that in the United States just prior to the onset of the great recession, the total shadow banking liabilities exceeded $20 trillion USD compare to $10 trillion USD liabilities in the traditional banking system. [5] Read More »

In Memory of Frank Lewis (1947-2018)

By Eliane Hamel Barker and Ardyn Nordstrom, Queen’s University

On March 14th, 2018, Frank Lewis passed away peacefully at home. Frank had been an Emeritus Professor for the Department of Economics at Queen’s University, where he spent 44 years of his career before retiring last year. He received his doctorate in Economics from Rochester University after graduating from Westmount High and McGill University.

Frank was devoted to teaching and mentoring students for many generations, and was an active researcher with a focus on Canadian economic history. His teaching legacy was recognized in 2016 when he received the Jonathan Hughes Prize for excellence in teaching from the Economic History Association. Even after retiring, Frank continued to contribute by publishing two academic papers and providing expert assistance to the Indigenous and Crown parties in a significant case involving 1850 treaties. The Queen’s Economics Department will always remember Frank Lewis for his years of contribution and for sharing his passion for economic history. You can read more about Frank’s illustrious career here.

A memorial service in Frank’s memory will be held on Thursday, May 3rd, 2018 in Grant Hall, Queen’s University. The ceremony will start at 2:30pm and will be followed by a reception at Ban Righ Hall in the Eliza S. Gordon Dining Room.

Frank’s full obituary is available here, where you will also find a space to pass along your condolences. Should you wish to donate to the Queen’s Economics Department in memory of Frank Lewis, you can do so here.