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SI 2014 Risks of Financial Institutions

Mark Carey and René Stulz, Organizers

July 8-9, 2014

Ballroom A

Royal Sonesta Hotel

40 Edwin H. Land Boulevard

Cambridge, Massachusetts



Tuesday, July 8:

12:00 n


Joint Session with Corporate Finance Group

1:00 pm

Milton Harris, University of Chicago
Christian Opp, University of Pennsylvania
Marcus Opp, University of California at Berkeley
Higher Capital Requirements, Safer Banks? Macroprudential Regulation in a Competitive Financial System

Discussant: Jeremy Stein, Federal Reserve Board

1:50 pm

Markus Behn, Bonn Graduate School of Economics
Rainer Haselmann, Bonn Graduate School of Economics
Vikrant Vig, London Business School
The Limits of Model Based Regulation

Discussant: Johannes Stroebel, New York University

2:40 pm


3:00 pm

Ralph Koijen, London Business School
Motohiro Yogo, Federal Reserve Bank of Minneapolis
Shadow Insurance

Discussant: Andrew Metrick, Yale University and NBER

3:50 pm

Oliver Hart, Harvard University and NBER
Luigi Zingales, University of Chicago and NBER
Banks Are Where The Liquidity Is

Discussant: Rene Stulz, Ohio State University and NBER

4:40 pm


Wednesday, July 9:

8:00 am

Coffee and Pastries

8:30 am

Charles Calomiris, Columbia University and NBER
Mark Carlson, Federa Reserve Board
Corporate Governance and Risk Management at Unprotected Banks: National Banks in the 1890s

Discussant:  Philip Strahan, Boston College and NBER

9:25 am

Efraim Benmelech, Northwestern University and NBER
Rodney Ramcharan, Federal Reserve Board
Ralf Meisenzahl, Board of Governors of the Federal Reserve System

Liquidity, Non-Bank Credit and the Financial Crisis: Evidence from Automobiles

Discussant:  Philipp Schnabl, New York University and NBER

10:15 am


10:40 am

Robert Merton, MIT and NBER
Zoe Tsesmelidakis, University of Oxford
The Value of Implicit Guarantees

Discussant:  Charles Himmelberg, Goldman Sachs

11:30 am

Joao Granja, MIT
Gregor Matvos, University of Chicago and NBER
Amit Seru, University of Chicago and NBER
Selling Failed Banks

Discussant:  Christopher James, University of Florida

12:20 pm


1:20 pm

Darrell Duffie, Stanford University and NBER
Martin Scheicher, European Systemic Risk Board
Guillaume Vuillemey, Sciences-Po Paris
Central Clearing and Collateral Demand

Discussant:  Gary Gorton, Yale University and NBER

2:10 pm

Sergey Chernenko, Ohio State University
Samuel Hanson, Harvard University and NBER
Adi Sunderam, Harvard University and NBER
The Rise and Fall of Securitization

Discussant:  Manuel Adelino, Duke University

3:00 pm


3:20 pm

Massimiliano Caporin, University of Padua
Loriana Pelizzon, Ca' Foscari Univesity of Venice
Francesco Ravazzolo, Norges Bank
Roberto Rigobon, MIT and NBER
Measuring Sovereign Contagion in Europe

Discussant:  Marcel Fratzscher, DIW Berlin

4:10 pm

Thomas Philippon, New York University and NBER
Miguel de Faria e Castro, New York University
Joseba Melchor Martinez, New York University
Runs versus Lemons: Fiscal Capacity and Financial Stability

Discussant:  Harald Uhlig, University of Chicago and NBER

5:00 pm


6:00 pm

Clambake - Royal Sonesta Hotel, 40 Edwin H. Land Boulevard, Cambridge, MA