SI 2017 Risks of Financial Institutions
Organized by Mark Carey and René M. Stulz
July 11-12, 2017
Royal Sonesta Hotel
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, The 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 Polytechnic Institute and State University

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 Texas at Austin
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, U.S. Department of the Treasury
Sriram Rajan, U.S. Department of the Treasury
H. Peyton Young, University of Oxford

Discussant:
Pierre Collin-Dufresne, École Polytechnique Fédérale de Lausanne (EPFL)
10:10 am
Break
10:35 am

Fire-Sale Spillovers in Debt Markets

Antonio Falato, Federal Reserve Board of Governors
Ali Hortaçsu, University of Chicago and NBER
Dan Li, Federal Reserve Board of Governors
Chaehee Shin, Federal Reserve Board of Governors

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, New York University
Laura Salisbury, York University and NBER
11:55am

The Financial Intermediation Premium in the Cross Section of Stock Returns

Tatyana Marchuk, Nova School of Business and Economics
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, Banca d'Italia
Philip Strahan, Boston College and NBER

Discussant:
Paola Sapienza, Stanford University and NBER
2:10 pm

Fintech, Regulatory Arbitrage, and the Rise of Shadow Banks

Greg Buchak, Stanford University and NBER
Gregor Matvos, Northwestern University and NBER
Tomasz Piskorski, Columbia University and NBER
Amit Seru, Stanford University and NBER

Discussant:
Nancy E. Wallace, 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 at Chapel Hill
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, Federal Reserve Bank of Atlanta
Laura Veldkamp, Columbia University and NBER

Discussant:
Albert S. Kyle, University of Maryland, College Park
5:05 pm
Adjourn
6:00 pm
Clambake at the Royal Sonesta Hotel (Ballroom B/ West Tower)