FRIDAY, OCTOBER 12th 2018 |
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8:30 – 9:30 | Breakfast |
9:30 – 11:10 | Session 1: Bank Risk Taking Chair: Todd Keister (Rutgers) |
Optimal Bank Regulation In the Presence of Credit and Run Risk Anil Kashyap (Chicago), Dimitrios Tsomocos (Oxford) and Alexandros Vardoulakis (Federal Reserve Board) Discussant: Enrico Perotti (University of Amsterdam) |
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Judging Banks’ Risk by the Profits they Report Ben Meiselman (Johns Hopkins), Stefan Nagel (Chicago) and Amiyatosh Purnanandam (Michigan) Discussant: Rene Stulz (Ohio State) |
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11:10 – 11:30 | Break |
11:30 – 13:10 | Session 2: Cryptocurrencies Chair: Asani Sarkar (NY Fed) |
Is Bitcoin Really Un-Tethered? John Griffin (Texas Austin) and Amin Shams (Texas Austin) Discussant: Nick Roussanov (Wharton) |
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Some Simple Bitcoin Economics Linda Schilling (Ecole Polytechnique CREST) and Harald Uhlig (Chicago) Discussant: Aleh Tsyvinski (Yale) |
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13:10 – 14:30 | Lunch |
14:30 – 17:20 | Session 3: Fire Sales Chair: Adriano Rampini (Duke) |
Do rating agencies deserve some credit? Evidence from transitory shocks to credit risk Oleg Gredil (Tulane), Nishad Kapadia (Tulane) and Jung Lee (Tulane) Discussant: Chester Spatt (Carnegie Mellon) |
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Leverage-induced Fire Sales and Stock Market Crash Jiangze Bian (UIBE), Zhiguo He (Chicago), Kelly Shue (Yale) and Hao Zhou (Tsinghua) Discussant: Vish Viswanathan (Duke) |
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How I Learned to Stop Worrying and Love Fire Sales Pablo Kurlat (Stanford) Discussant: Eduardo Davila (NYU) |
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19:00 | Dinner – Keynote Speaker: Narayana Kocherlakota (Rochester) Keynote Slides (PDF) |
SATURDAY, OCTOBER 13th 2018
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7:30 – 8:30 | Breakfast |
8:30 – 10:10 | Session 4: Government Intervention and Lending Chair: Toni Ahnert (Bank of Canada) |
Bank Balance Sheet Capacity and the Limits of Shadow Banks Greg Buchak (Chicago), Gregor Matvos (Texas Austin), Tomasz Piskorski (Columbia) and Amit Seru (Stanford) Discussant: Alexi Savov (NYU) |
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Unconventional Monetary Policy and Bank Lending Relationships Christophe Cahn (Banque de France), Anne Duquerroy (Banque de France) and William Mullins (UC San Diego) Discussant: Jose Luis Peydro (Pompeu Fabra) |
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10:10 – 10:30 | Break |
10:30 – 12:10 | Session 5: Housing Booms and Busts Chair: Tim Landvoigt (Wharton) |
The Real Effects of Credit Booms and Busts Simon Gilchrist (NYU), Michael Siemer (Federal Reserve Board) and Egon Zakrajsek (Federal Reserve Board) Discussant: Victoria Ivashina (Harvard) |
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The Financial Transmission of Housing Bubbles: Evidence from Spain Alberto Martin (CREI), Enrique Moral-Benito (Bank of Spain) and Tom Schmitz (Bocconi) Discussant: Manuel Adelino (Duke) |
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12:10 – 13:10 | Lunch |
13:10 – 16:00 | Session 6: Information in Financial Markets Chair: Sebastian Infante (Board of Governors) |
Market Power and Price Informativeness Marcin Kacperczyk (Imperial), Jaromir Nosal (Boston College) and Savitar Sundaresan (Imperial) Discussant: Kathy Yuan (LSE) |
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Marketmaking with Search and Information Frictions Ben Lester (Philadelphia Fed), Ali Shourideh (Carnegie Mellon), Venky Venkateswaran (NYU) and Ariel Zetlin-Jones (Carnegie Mellon) Discussant: Willie Fuchs (Texas Austin). |
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Where Has All the Big Data Gone? Maryam Farboodi (MIT), Adrien Matray (Princeton) and Laura Veldkamp (Columbia) Discussant: Ben Golub (Harvard) |
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16:00 | Adjourn |
Program Committee
Itamar Drechsler (Wharton)
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 (Boston College)
Martin Oehmke (LSE)
Christian Opp (Wharton)
George Pennacchi (Illinois)
Adriano Rampini (Duke)
Philipp Schnabl (NYU)
Luke Taylor (Wharton)
Venky Venkateswaran (NYU Stern)
Annette Vissing-Jorgensen (Berkeley)
Russ Wermers (Maryland)
Randy Wright (Wisconsin)
Motohiro Yogo (Princeton)