Thursday, July 9

8:30 am

The Deposits Channel of Monetary Policy

Itamar Drechsler, University of Pennsylvania and NBER
Alexi Savov, New York University and NBER
Philipp Schnabl, New York University and NBER

9:30 am

Financial Intermediation and Capital Reallocation

Fang Yang, Federal Reserve Bank of Dallas

11:00 am

Four Centuries of Return Predictability

Benjamin Golez, University of Notre Dame
Peter Koudijs, New York University

1:00 pm

Competition, Markups and Predictable Returns

Alexandre Corhay, University of Toronto
Howard Kung, London Business School
Lukas Schmid, University of Southern California

2:00 pm

The Price of Political Uncertainty: Theory and Evidence from the Option Market

Bryan T. Kelly, Yale University and NBER
Lubos Pastor, University of Chicago and NBER
Pietro Veronesi, University of Chicago and NBER

3:20 pm

Information Aversion

Marianne Andries, University of Southern California
Valentin Haddad, University of California, Los Angeles and NBER

Friday, July 10

8:30 am

Fundamentally, Momentum is Fundamental Momentum

Robert Novy-Marx, University of Rochester and NBER

9:30 am

Interpreting Factor Models

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

11:00 am

Asset Pricing with Countercyclical Household Consumption Risk

George M. Constantinides, University of Chicago and NBER
Anisha Ghosh, McGill University

1:00 pm

Misspecified Recovery

Jaroslav Borovicka, New York University and NBER
Lars P. Hansen, University of Chicago and NBER
Jose A. Scheinkman, Columbia University and NBER

2:30 pm

Informational Black Holes in Auctions

Ulf Axelson, London School of Economics and Political Science (LSE)
Igor Makarov, London School of Economics and Political Science (LSE)

3:30 pm

Benchmarks in Search Markets

Darrell Duffie, Stanford University and NBER
Piotr Dworczak, Northwestern University
Haoxiang Zhu, Massachusetts Institute of Technology and NBER