Friday, March 24

8:00 am

Continental Breakfast

8:30 am

China's Model of Managing the Financial System

Michael Sockin, University of Texas at Austin
Markus K. Brunnermeier, Princeton University and NBER
Wei Xiong, Princeton University and NBER

Discussant:
Hélène Rey, London Business School and NBER

9:30 am

Break

9:45 am

The Federal Reserve and Market Confidence

Nina Boyarchenko, Federal Reserve Bank of New York
Valentin Haddad, University of California, Los Angeles and NBER
Matthew C. Plosser, Federal Reserve Bank of New York

Discussant:
Alexi Savov, New York University and NBER

10:45 am

Break

11:00 am

Habits and Leverage

Tano Santos, Columbia University and NBER
Pietro Veronesi, University of Chicago and NBER

Discussant:
Arvind Krishnamurthy, Stanford University and NBER

12:00 pm

Lunch

1:15 pm

Prepayment Risk and Expected MBS Returns

Peter Diep, AQR
Andrea L. Eisfeldt, University of California, Los Angeles and NBER
Scott Richardson, AQR Capital Management

Discussant:
Stijn Van Nieuwerburgh, Columbia University and NBER

2:15 pm

Break

2:30 pm

The Dark Side of Circuit Breakers

Hui Chen, Massachusetts Institute of Technology and NBER
Anton Petukhov, Massachusetts Institute of Technology
Jiang Wang, Massachusetts Institute of Technology and NBER

Discussant:
Albert S. Kyle, University of Maryland

3:30 pm

Break

3:45 pm

Shrinking the Cross-Section

Serhiy Kozak, University of Maryland
Stefan Nagel, University of Chicago and NBER
Shrihari Santosh, University of Maryland

Discussant:
Svetlana Bryzgalova, London Business School

4:45 pm

Adjourn

6:00 pm

Joint Reception and Dinner, Gleacher Center
Executive Dining Room 621

Participant List