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Financial Market Frictions and Systemic Risks
Organized by Wenxin Du, Alp Simsek, Chester S. Spatt, and Mao Ye Supported by the Office of Financial Research through an interagency agreement with the National Science Foundation February 19, 2026 Royal Sonesta Hotel, 40 Edwin H. Land Blvd., Cambridge, MA |
| Wednesday, February 18 | |
| 6:30pm |
Dinner
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| Thursday, February 19 | |
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Paper session format: 25 min presentation; 15 min discussion; 5 min Q&A |
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| 8:00am |
Breakfast
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| 8:30am |
Monetary Policy, Bank Regulation and the Secular Decline of Bank Balance Sheet Lending
Discussant:
Anil K Kashyap, University of Chicago and NBER |
| 9:15am |
Securities Losses and the Bank Collateral Channel of Monetary Transmission
Discussant:
David Thesmar, Massachusetts Institute of Technology and NBER |
| 10:00am |
Break
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| 10:30am |
Rewiring Repo
Discussant:
Yiming Ma, Columbia University and NBER |
| 11:15am |
Hidden Risk
Discussant:
Vikas Agarwal, Georgia State University |
| 12:00pm |
Lunch
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| 1:30pm |
Geoeconomic Competition and Capital Reallocation in Global FX Funding
Discussant:
Christopher Clayton, Yale University and NBER |
| 2:15pm |
Break
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| 2:45pm |
Panel on Bank Deposit and Fragility |
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Banking on Inattention |
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Deposit Competition Beyond Rates |
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Earnings Information Spillovers and Depositor Contagion
Discussant:
Mark L. Egan, Harvard University and NBER |
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| 4:30pm |
Adjourn
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