European Financial Architecture RPN


RPN European Financial Architecture (EFA) brings together finance academics and selected policy makers to develop research-based policy proposals addressing the sustainability of Europe’s financial architecture. EFA comprises all issues related to the role of banking and capital markets in the Euro Area. Topics to be addressed include, without being limited to: financial stability; banking competition and regulation; market supervision and market infrastructure; decentralized (digital) finance and crypto assets/banking; central banking channels: banks, markets, non-banks; and ESG finance and impact measurement (incl. taxonomy). 

The new RPN will be organized by Elena Carletti (Bocconi and CEPR) and Jan Krahnen (SAFE, Goethe University and CEPR). Its members are CEPR research fellows and research affiliates as well as legal scholars and policy makers. The initial composition of the group will display diversity with respect to field of specialization and experience, national background, gender, and age.

The RPN organizes workshops, web-based and/or physical, on topics of mutual interest, with input (impulses) from members and invited guests. One aim is to draft and further discuss position/policy papers that are publishable, e.g. in venues like VoxEU.

Possible themes:

  • Regulation of banking and capital markets, and their supervisory architecture
  • Financial market development in Europe
  • Green finance: Identifying impact and measuring effectiveness 
  • Pension system design: Challenges in building a funded system
  • Corporate governance issues in a world of ETF investors
  • Resilience in financial systems
  • Decentralized finance, systemic risk, and regulation
  • Tokenization and the future of securities market
  • Continental Europe’s financial architecture post-Brexit.