On 14 May 2026, the National Bank of Ukraine will hold an online workshop titled Monetary Policy in Emerging Markets: Credit and Saving Behavior in Monetary Transmission.
This annual research and policy event, organized by the NBU since 2021, will once again bring together representatives of central banks, international financial institutions, academia, and the public and private sectors to discuss monetary challenges in emerging market economies.
Over the past decades, many emerging market economies have made substantial progress in strengthening monetary policy frameworks and anchoring inflation expectations. At the same time, a balanced monetary policy response to recent global shifts, heightened uncertainty, and frequent supply shocks requires a deep understanding of the effectiveness of transmission mechanism and, in certain cases, its targeted calibration. Against this background, central banks and researchers are placing growing emphasis on how financial systems transmit policy signals to inflation and the real economy.
For Ukraine, this issue is particularly relevant due to the full-scale war, heightened uncertainty, and risks. Under these conditions, the development and stability of the financial system play a key role in ensuring effective monetary policy transmission and supporting further market-based economic recovery.
The NBU workshop will serve as a platform for discussing the role of the financial system in the effectiveness of monetary policy. The workshop will take place online in English.
The NBU invites submissions of research and analytical papers within the scope of the workshop theme
The list of topics includes, but is not limited to:
- Role of financial intermediation in monetary transmission, including credit and deposit channels
- Pass-through of policy rate changes to lending and deposit rates, including asymmetries and non-linearities in the transmission process
- Adaptation of central bank instruments to enhance transmission efficiency
- Heterogeneity in monetary transmission across households, firms, and financial institutions
- Credit development, the structural and cyclical components of credit dynamics, and their implications for financial stability and monetary transmission
- The sovereign-bank nexus, exchange rate effects, and the sectoral allocation of credit, and their role in monetary transmission.
Paper submission:
Authors interested in presenting their analytical or research work at the workshop are invited to submit either a full paper or an extended abstract with key findings (in PDF format) to: [email protected]. Please use “MPEM2026” as the subject line of the email.
The submission deadline is 19 April 2026.
A summary of last year’s workshop on monetary policy in emerging markets is available via the link.
Please share this call for papers with your colleagues.