
	Tuesday, July 11
12:00 n	Lunch
	Joint session with the Corporate Finance Group in Ballroom A
1:00 pm	The Cross Section of Bank Value Mark L. Egan, Harvard University and NBER Stefan Lewellen, Pennsylvania State University Adi Sunderam, Harvard University and NBER Discussant: David Sraer, University of California, Berkeley and NBER
1:50 pm	Banking on Deposits: Maturity Transformation without Interest Rate Risk Itamar Drechsler, University of Pennsylvania and NBER Alexi Savov, New York University and NBER Philipp Schnabl, New York University and NBER Discussant: Arvind Krishnamurthy, Stanford University and NBER
2:40 pm	Break
3:10 pm	Monetary Stimulus and Bank Lending Indraneel Chakraborty, University of Miami Itay Goldstein, University of Pennsylvania and NBER Andrew MacKinlay, Virginia Tech Discussant: Andreas Fuster, EPFL and Swiss Finance Institute
4:00 pm	The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets Brian S. Chen, Harvard University Samuel Hanson, Harvard University and NBER Jeremy C. Stein, Harvard University and NBER Discussant: Raghuram Rajan, University of Chicago and NBER
4:50 pm	Adjourn
	Wednesday, July 12
8:00 am	Coffee and Pastries
8:30 am	A System-wide Approach to Measure Connectivity in the Financial Sector Amiyatosh Purnanandam, University of Michigan Sumanta Basu, Cornell University Sreyoshi Das, Bates White George Michailidis, University of Michigan Discussant: Francis X. Diebold, University of Pennsylvania and NBER
9:20 am	Contagion in the CDS Market Mark Paddrik, Office of Financial Research Sriram Rajan, U.S. Department of the Treasury H. Peyton Young, University of Oxford Discussant: Pierre Collin-Dufresne, École Polytechnique Fédérale de Lausanne
10:10 am	Break
10:35 am	Fire-Sale Spillovers in Debt Markets Antonio Falato, Federal Reserve Board Ali Hortaçsu, University of Chicago and NBER Dan Li, Federal Reserve Board Chaehee Shin, Federal Reserve Board Discussant: Erik Stafford, Harvard University
	Fast Session
11:25 am	Low Interest Rates and Risk Taking: Evidence from Individual Investment Decisions Chen Lian, University of California, Berkeley and NBER Yueran Ma, University of Chicago and NBER Carmen Y. Wang, Uber
11:40 am	For Richer, For Poorer: Banker's Skin-in-the-game and Risk Taking in New England, 1867-1880 Peter Koudijs, University of Rotterdam Laura Salisbury, York University and NBER
11:55am	The Financial Intermediation Premium in the Cross Section of Stock Returns Tatyana Marchuk, BI Norwegian Business School
12:15 pm	Lunch
1:15 pm	Bank Quality, Judicial Efficiency, and Borrower Runs: Loan Repayment Delays in Italy Fabio Schiantarelli, Boston College Massimiliano Stacchini, Bank of Italy Philip Strahan, Boston College and NBER Discussant: Paola Sapienza, Northwestern University and NBER
2:10 pm	Fintech, Regulatory Arbitrage, and the Rise of Shadow Banks Greg Buchak, Stanford University Gregor Matvos, Northwestern University and NBER Tomasz Piskorski, Columbia University and NBER Amit Seru, Stanford University and NBER Discussant: Nancy E. Wallace, Haas School of Business, University of California, Berkeley
3:00 pm	Break
3:25 pm	Granularity and (Downside) Risk in Equity Markets Eric Ghysels, University of North Carolina at Chapel Hill Hanwei Liu, University of North Carolina Steve Raymond, University of North Carolina at Chapel Hill Discussant: Bryan T. Kelly, Yale University and NBER
4:15 pm	Where Has All the Big Data Gone? Maryam Farboodi, Massachusetts Institute of Technology and NBER Adrien Matray, Princeton University and NBER Laura Veldkamp, Columbia University and NBER Discussant: Albert S. Kyle, University of Maryland
5:05 pm	Adjourn
6:00 pm	Clambake at the Royal Sonesta Hotel (Ballroom B/ West Tower)

Participants

Manuel Adelino, Duke University and NBER
Kenneth R. Ahern, University of Southern California and NBER
Lewis S. Alexander, Nomura Securities
Heitor Almeida, University of Illinois Urbana-Champaign and NBER
Ana Babus, Washington University in St. Louis
Sumanta Basu, Cornell University
David S. Bates, University of Iowa and NBER
Anne Beatty, The Ohio State University
Juliane Begenau, Stanford University and NBER
Itzhak Ben-David, The Ohio State University and NBER
Frederic Boissay, Bank for International Settlements
Christa Bouwman, Texas A&M University
Markus K. Brunnermeier, Princeton University and NBER
Greg Buchak, Stanford University
John Y. Campbell, Harvard University and NBER
Mark Carey, Federal Reserve Bank of Cleveland
Ing-Haw Cheng, University of Toronto
Mikhail Chernov, University of California, Los Angeles and NBER
Pierre Collin-Dufresne, École Polytechnique Fédérale de Lausanne
Adam Copeland, Federal Reserve Bank of New York
Magnus Dahlquist, Stockholm School of Economics
Sreyoshi Das, Bates White
Marco Di Maggio, Harvard University and NBER
Douglas W. Diamond, University of Chicago and NBER
Francis X. Diebold, University of Pennsylvania and NBER
Christopher Donohue, Global Association of Risk Professionals
Graeme Douglas, Bank of England
Itamar Drechsler, University of Pennsylvania and NBER
Gregory Duffee, Johns Hopkins University
Janice C. Eberly, Northwestern University and NBER
Mark L. Egan, Harvard University and NBER
Tim Eisert, Nova School of Business and Economics
Andrew Ellul, Indiana University
Isil Erel, The Ohio State University and NBER
Antonio Falato, Federal Reserve Board
Marc Farag, Bank for International Settlements
Maryam Farboodi, Massachusetts Institute of Technology and NBER
Marcio Garcia, PUC-Rio
Co-Pierre Georg, University of Cape Town
Mila Getmansky Sherman, University of Massachusetts Amherst
Xavier Giroud, Columbia University and NBER
Andrei S. Gonçalves, The Ohio State University
Gary B. Gorton, Yale University and NBER
Dirk Hackbarth, Boston University
Valentin Haddad, University of California, Los Angeles and NBER
Samuel Hanson, Harvard University and NBER
Tarek Alexander Hassan, Boston University and NBER
Beverly Hirtle, Federal Reserve Bank of New York
Takeo Hoshi, University of Tokyo
John Hund, University of Georgia
Victoria Ivashina, Harvard University and NBER
Christopher James, University of Florida
Hao Jiang, Michigan State University
Kose John, New York University
Kathryn Judge, Columbia University
Nikunj Kapadia, University of Massachusetts Amherst
Andrew Karolyi, Cornell University
Stephen A. Karolyi, Office of the Comptroller of the Currency
Anastasia Kartasheva, University of St. Gallen
Anil K Kashyap, University of Chicago and NBER
Bryan T. Kelly, Yale University and NBER
Andrei Kirilenko, University of Cambridge
Laura Kodres, Massachusetts Institute of Technology
Peter Koudijs, University of Rotterdam
Anna Kovner, Federal Reserve Bank of Richmond
Michal Kowalik, Federal Reserve Bank of Boston
Arvind Krishnamurthy, Stanford University and NBER
Randall S. Kroszner, University of Chicago and NBER
Camelia M. Kuhnen, University of North Carolina at Chapel Hill and NBER
Albert S. Kyle, University of Maryland
Rafael La Porta, Brown University and NBER
Mark Levonian, Promontory Financial Group, LLC
Jonathan Lewellen, Dartmouth College and NBER
Karen K. Lewis, University of Pennsylvania and NBER
Dan Li, Federal Reserve Board
Ye Li, University of Washington
Chen Lian, University of California, Berkeley and NBER
Hanwei Liu, University of North Carolina

Lily Liu, Federal Reserve Bank of Boston
Alexander Ljungqvist, Stockholm School of Economics
Florencio Lopez-de-Silanes, SKEMA Business School and NBER
Elena Loutskina, University of Virginia
Yueran Ma, University of Chicago and NBER
Matteo Maggiori, Stanford University and NBER
Alberto Manconi, Bocconi University
Tatyana Marchuk, BI Norwegian Business School
Adrien Matray, Princeton University and NBER
Gregor Matvos, Northwestern University and NBER
Robert L. McDonald, Northwestern University and NBER
Daisy McGregor, Bank of England
Ralf Meisenzahl, Federal Reserve Bank of Chicago
Konstantin Milbradt, Northwestern University and NBER
Bernadette Minton, The Ohio State University
Randall Morck, University of Alberta and NBER
Tyler Muir, University of California, Los Angeles and NBER
Allison Nicoletti, University of Pennsylvania
Stanislava Nikolova, University of Nebraska-Lincoln
Martin Oehmke, London School of Economics
Mark Paddrik, Office of Financial Research
Michaela Pagel, Washington University in St. Louis and NBER
Jonathan A. Parker, Massachusetts Institute of Technology and NBER
Enrico C. Perotti, University of Amsterdam
Mitchell A. Petersen, Northwestern University and NBER
Jose-Luis Peydro, Universitat Pompeu Fabra
Thomas Philippon, New York University and NBER
Matthew C. Plosser, Federal Reserve Bank of New York
Natalya Presman, Bank of Israel
Robert Prilmeier, Tulane University
Matthew Pritsker, Federal Reserve Bank of Boston
Manju Puri, Duke University and NBER
Amiyatosh Purnanandam, University of Michigan
Shivaram Rajgopal, Columbia University
Adriano A. Rampini, Duke University and NBER
S. Abraham (Avri) Ravid, Yeshiva University
Hélène Rey, London Business School and NBER
Matthew P. Richardson, New York University and NBER
Michael R. Roberts, University of Pennsylvania and NBER
Paola Sapienza, Northwestern University and NBER
Alexi Savov, New York University and NBER
Fabio Schiantarelli, Boston College
Philipp Schnabl, New York University and NBER
Catherine Schrand, University of Pennsylvania
Michael Schwert, AQR Arbitrage
Chaehee Shin, Federal Reserve Board
Hyun Song Shin, Bank for International Settlements
Andrei Shleifer, Harvard University and NBER
Ria Sinha, GD Goenka University
Emil Siriwardane, Harvard University and NBER
Chester S. Spatt, Carnegie Mellon University and NBER
David Sraer, University of California, Berkeley and NBER
Erik Stafford, Harvard University
Philip Strahan, Boston College and NBER
René M. Stulz, The Ohio State University and NBER
Amir Sufi, University of Chicago and NBER
Adi Sunderam, Harvard University and NBER
Lars E.O. Svensson, Stockholm School of Economics and NBER
Jérôme P. Taillard, Babson College
Geoffrey Tate, University of Maryland and NBER
Anjan Thakor, Washington University in St. Louis
Tomohiro Tsuruga, International Monetary Fund
Yoichi Ueno, Japan Center for Economic Research
Haluk Unal, University of Maryland
Boris Vallee, Harvard University
Stijn Van Nieuwerburgh, Columbia University and NBER
Laura Veldkamp, Columbia University and NBER
S. Vish Viswanathan, Duke University and NBER
Razvan Vlahu, De Nederlandsche Bank
Nancy E. Wallace, Haas School of Business, University of California, Berkeley
Michael Weber, University of Chicago and NBER
Toni Whited, University of Michigan and NBER
Jonathan H. Wright, Johns Hopkins University and NBER
Ayako Yasuda, University of California at Davis
Mao Ye, Cornell University and NBER
Rebecca Zarutskie, Federal Reserve Board
Haoxiang Zhu, Massachusetts Institute of Technology and NBER
Eric Zwick, University of Chicago and NBER