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Session Format: Presentation 25 minutes; Discussants 10 minutes each; Open discussion 15 minutes

NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

East Asian Seminar on Economics
Financial Stability

Takatoshi Ito and Andrew Rose, Organizers

June 18-19, 2015

Federal Reserve Bank of San Francisco
101 Market Street
San Francisco, CA

Program

 

Participant List

Thursday, June 18:


8:30 am


Continental Breakfast


9:00 am


Welcome Remarks

9:15 am

Oscar Jorda, Federal Reserve Bank of San Francisco
Moritz Schularick, University of Bonn
Alan Taylor, University of California at Davis and NBER
Leveraged Bubbles

Discussants: 
Bradford DeLong, University of California at Berkeley and NBER
Pongsak Luangaram, Chulalongkorn University

10:15 am

Break


10:30 am


Sumit Agarwal, National University of Singapore
Jessica Pan, National University of Singapore
Wenlan Qian, National University of Singapore
Age of Decision: Pension Savings Withdrawal and Consumption and Debt Response

Discussants: 
Alan Auerbach, University of California at Berkeley and NBER
Amir Kermani, University of California at Berkeley


11:30 am


Douglas Diamond, University of Chicago and NBER
Anil Kashyap, University of Chicago and NBER
Liquidity Requirements, Liquidity Choice and Financial Stability

Discussants: 
Nao Sudo, Bank of Japan
Annette Vissing-Jorgensen, University of California at Berkeley and NBER


12:30 pm


Lunch 


2:00 pm


Frederic Lambert, IMF
Kenichi Ueda, IMF
The Effects of Unconventional Monetary Policies on Bank Soundness

Discussants: 
Kadek Artha, University of Indonesia
Kinda Hachem, University of Chicago and NBER

3:00 pm

Break
 

3:30 pm

Woon Gyu Choi, Bank of Korea
David Cook, Hong Kong University of Science and Technology
Policy Conflicts and Inflation Targeting:  The Role of Credit Markets

Discussants: 
Kadek Artha, University of Indonesia
Sylvain Leduc, Federal Reserve Bank of San Francisco


4:30 pm


Hao Wang, Tsinghua University
Honglin Wang, Hong Kong Institute for Monetary Research
Lisheng Wang, Chinese University of Hong Kong
Hao Zhou, Tsinghua University
Shadow Banking: China's Dual-Track Interest Rate Liberalization

Discussants: 
Vid Adrison, University of Indonesia
Kinda Hachem, University of Chicago and NBER

5:30 pm

Adjourn

5:45 pm

Reception and Dinner at Federal Reserve Bank of San Francisco

Friday, June 19

8:00 am

Continental Breakfast

8:40 am

Introduction, Speech, Q&A
with John Williams, President of Federal Reserve Bank of San Francisco

9:30 am

John Burger, Loyola University Maryland
Rajeswari Sengupta, IGIDR
Francis Warnock, University of Virginia and NBER
Veronica Cacdac Warnock, University of Virginia
U.S. Investment in Global Bonds: As the Fed Pushes, Some EMEs Pull

Discussants: 
Katheryn Russ, University of California at Davis and NBER
Changhua Yu, CCER at Peking University

10:30 am

Break


10:45 am


Jens Christensen, Federal Reserve Bank of San Francisco
Jose Lopez, Federal Reserve Bank of San Francisco
Glenn Rudebusch, Federal Reserve Bank of San Francisco
A Probability-Based Stress Test of Federal Reserve Assets and Income

Discussants: 
Amir Kermani, University of California at Berkeley
Nao Sudo, Bank of Japan

11:45 am

Tim Robinson, University of Melbourne
Fang Yao, Reserve Bank of New Zealand
Loan-to-Value Ratio Policy and Business Cycles


Discussants: 
Fred Furlong, Federal Reserve Bank of San Francisco
Pongsak Luangaram, Chulalongkorn University


12:45 pm


Lunch


2:00 pm


Andres Fernandez, Inter-American Development Bank
Alessandro Rebucci, Johns Hopkins University
Martin Uribe, Columbia University and NBER
Are Capital Controls Countercyclical?

Discussants: 
Yuriy Gorodnichenko, University of California at Berkeley and NBER
Changhua Yu, CCER at Peking University

3:00 pm

Break

3:30 pm

Jiseob Kim, Korea Development Institute
How Loan Modifications Influence the Prevalence of Mortgage Defaults

Discussants: 
Takeo Hoshi, Stanford University and NBER
Christopher Palmer, University of California at Berkeley

4:30 pm

Hao Fang, Hwa Hsia University of Technology
Chung-Hua Shen, National Taiwan University
Yen-Hsien Lee, Chung Yuan Christian University
How
Early of the Early Warning Signal in Banking Crisis
?
The Three Booms, Credit, Housing and Capital, Cases

Discussants: 
Vid Adrison, University of Indonesia
Reuven Glick, Federal Reserve Bank of San Francisco

5:30 pm

Adjourn

6:30 pm

Reception and Dinner at One Market Restaurant, 1 Market Street, San Francisco http://www.onemarket.com/








Standing Co-Organizer Institutions:

National Bureau of Economic Research, Inc.
Tokyo Center for Economic Research
Korea Development Institute
Chung-Hua Institution for Economic Research
Hong Kong University of Science and Technology
Australian National University
Tsinghua University
China Center for Economic Research
National University of Singapore