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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

Universities Research Conference: The Economics of Commodity Markets

Kenneth Singleton and Wei Xiong, Organizers

May 15-16, 2015

The Royal Sonesta Hotel

Charles Suites 2nd Floor, East Tower

40 Edwin H. Land Blvd.

Cambridge, MA

PROGRAM

 

Friday, May 15:

8:30 am

Continental Breakfast

9:00 am

Harrison Hong, Princeton University and NBER
Aureo de Paula, University College London
Vishal Singh, New York University
Hoard Behavior and Commodity Bubbles

Discussant: Hank Bessembinder, University of Utah
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10:00 am

Sylvain Leduc, Federal Reserve Bank of San Francisco
Kevin Moran, Department of Economics, Universite Laval
Robert Vigfusson, Federal Reserve Board
A Decade of Learning: The Role of Beliefs in Oil Futures Markets During the 2000s

Discussant: Lars Lochstoer, Columbia University

11:00 am

Break

11:30 am

Itay Goldstein, University of Pennsylvania

Liyan Yang, University of Toronto
Commodity Financialization: Risk Sharing and Price Discovery in Commodity Futures Markets

Discussant: Chester Spatt, Carnegie Mellon University and NBER

12:30 n

Lunch Parkview Room

1:30 pm

Erik P. Gilje, University of Pennsylvania
Robert C. Ready, University of Rochester
Nikolai Roussanov, University of Pennsylvania and NBER
Fracking, Drilling, and Asset Pricing: Estimating the Economic Benefits of the Shale Revolution

Discussant: Michael Johannes, Columbia University

2:30 pm

Rabah Arezki, International Monetary Fund
Valerie A. Ramey, University of California at San Diego and NBER
Liugang Sheng, Chinese University of Hong Kong
News Shocks in Open Economies: Evidence from Giant Oil Discoveries

Discussant:
Robert Barsky, Federal Reserve Bank of Chicago

3:30 pm

Break

4:00 pm

Darien Huang, Wharton School, University of Pennsylvania
Gold, Platinum, and Expected Stock Returns

Discussant: Ing-Haw Cheng, Dartmouth College

5:00 pm

Adjourn

6:30 pm

Reception and Group Dinner at the Royal Sonesta Hotel Longfellow Rooms, 1st Floor, West Tower

Saturday, May 16:

8:00 am

Continental Breakfast

8:30 am

Akshaya Jha, Stanford University

Frank A. Wolak, Stanford University and NBER
Testing for Market Efficiency with Transactions Costs: An Application to Convergence Bidding in Wholesale Electricity Markets

Discussant: Steven L. Puller, Texas A&M University and NBER

9:30 am

Thomas Covert, University of Chicago
Experiential and Social Learning in Firms: The Case of Hydraulic Fracturing in the Bakken Shale

Discussant: Jakub Kastl, Princeton University and NBER

10:30 am

Break

11:00 am

Davidson Heath, University of Southern California
Unspanned Macroeconomic Risks in Oil Futures

Discussant: Cynthia Wu, University of Chicago and NBER

12:00 n

Ke Tang, Tsinghua University
Haoxiang Zhu, Massachusetts Institute of Technology and NBER
Commodities as Collateral

Discussant: Steven Baker, University of Virginia

1:00 pm

Adjourn