FRIDAY, OCTOBER 13th 2017 |
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| 8:30 – 9:30 | Breakfast |
| 9:30 – 12:20 | Session 1: Patterns in Credit Allocation. Chair: Frank Diebold(UPenn) |
| The Macroeconomic Effects of Government Asset Purchases: Evidence from Postwar US Housing Credit Policy Andrew Fieldhouse (Cornell), Karel Mertens (FRB Dallas) and Morten Ravn (UCL) Discussant: Benjamin Keys (Wharton) |
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| Bank Lending in the Knowledge Economy Giovanni Dell’Ariccia (IMF), Dalida Kadyrzhanova (Georgia State), Camelia Minoiu (IMF) and Lev Ratnovski (IMF) Discussant: Adrien Matray (Princeton) |
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| 11:10 – 11:30 | Break |
| Shock Propagation and Banking Structure Mariassunta Giannetti (Stockholm School of Economics) and Farzad Saidi (Stockholm School of Economics) Discussant: Jakub Kastl (Princeton) |
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| 12:20 – 13:40 | Lunch |
| 13:40 – 15:20 | Session 2: Money and Runs Chair: Vish Viswanathan(Duke) |
| Flight to Liquidity and Systemic Bank Runs Roberto Robatto (Wisconsin) Discussant: Douglas Gale (NYU) |
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| Money Runs Jason Donaldson (Washington University in St. Louis) and Giorgia Piacentino (Columbia) Discussant: Todd Keister (Rutgers) |
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| 15:20 – 15:40 | Break |
| 15:40 – 17:20 | Session 3: Information Disclosure and Fragility Chair: Loretta Mester(President, Federal Reserve Bank of Cleveland) |
| Design of Macro-Prudential Stress Tests Dmitry Orlov (Rochester), Andrzej Skrzypacz (Stanford) and Pavel Zryumov (Rochester) Discussant: Vincent Glode (Wharton) |
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| Persuasion in Global Games with Application to Stress Testing Nicolas Inostroza (Northwestern) and Alessandro Pavan (Northwestern) Discussant: Gadi Barlevy (Chicago Fed) |
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| 17:20 – 19:00 | Drinks & hors-d’oeuvres |
| 19:00 | Dinner – Keynote Speaker: Patrick Bolton (Columbia) – “Inside, Outside & Public Liquidity”. |
SATURDAY, OCTOBER 14th 2017 |
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| 7:30 – 8:30 | Breakfast |
| 8:30 – 10:10 | Session 4: Financial Intermediaries and Asset Prices Chair: Christian Opp(Wharton) |
| Asset Price Bubbles and Systemic Risk Markus Brunnermeier (Princeton), Simon Rother (Bonn) and Isabel Schnabel (Bonn) Discussant: Simon Gilchrist (NYU) |
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| Do Intermediaries Matter for Aggregate Asset Prices? Valentin Haddad (UCLA) and Tyler Muir (UCLA) Discussant: Itamar Drechsler (NYU) |
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| 10:10 – 10:30 | Break |
| 10:30 – 12:10 | Session 5: Amplification in Financial Markets Chair: Mitchell Berlin(Federal Reserve Bank of Philadelphia) |
| Fire-Sale Spillovers in Debt Markets Antonio Falato (Federal Reserve Board), Ali Hortacsu (Chicago), Dan Li (Federal Reserve Board) and Chaehee Shin (Federal Reserve Board). Discussant: Adi Sunderam (Harvard) |
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| Financial Markets, the Real Economy, and Self-fulfilling Uncertainties Jess Benhabib (NYU), Xuewen Liu (HKUST) and Pengfei Wang (HKUST) Discussant: Russ Cooper (Penn State) |
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| 12:10 – 13:10 | Lunch |
| 13:10 – 16:00 | Session 6: Transmission Channels of Monetary Policy Chair: Enrico Perotti(University of Amsterdam) |
| The Effects of Monetary Policy, and other, Announcements in Dynamic General Equilibrium Chao Gu (Missouri), Han Han (Peking) and Randall Wright (Wisconsin) Discussant: Gary Gorton (Yale) |
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| Why are Banks Exposed to Monetary Policy? Sebastian Di Tella (Stanford) and Pablo Kurlat (Stanford) Discussant: Nobu Kiyotaki (Princeton) |
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| 14:50 – 15:10 | Break |
| A Risk-centric Model of Demand Recessions and Macroprudential Policy Ricardo Caballero (MIT) and Alp Simsek (MIT) Discussant: Gauti Eggertsson (Brown) |
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| 16:00 | Adjourn |
Program Committee
Stijn Claessens (BIS)
Itamar Drechsler (NYU)
Huberto Ennis (Richmond Fed)
Xavier Freixas (UPF)
Vincent Glode (Wharton)
Gary Gorton (Yale)
Zhiguo He (Chicago)
Jakub Kastl (Princeton)
Todd Keister (Rutgers)
Pablo Kurlat (Stanford)
Matteo Maggiori (Harvard)
Robert McDonald (Northwestern)
Jaromir Nosal (Columbia)
Martin Oehmke (Columbia GSB)
Christian Opp (Wharton)
George Pennacchi (Illinois)
Adriano Rampini (Duke)
Philipp Schnabl (NYU)
Luke Taylor (Wharton)
Venky Venkateswaran (NYU Stern)
Annete Vissing-Jorgensen (Berkeley)
Russ Wermers (Maryland)
Randy Wright (Wisconsin)
Motohiro Yogo (Princeton)