
	Monday, July 16
12:00 pm	Lunch
1:00 pm	What Drives Aggregate Investment? Evidence from German Survey Data Ruediger Bachmann, University of Notre Dame Peter Zorn, University of Munich Discussant: Diego A. Comin, Dartmouth College and NBER
1:50 pm	Inflows and Spillovers: Tracing the Impact of Bond Market Liberalization Cynthia Balloch, London School of Economics Discussant: David S. Scharfstein, Harvard University and NBER
2:40 pm	Break
2:55 pm	The Elephant in the Room: the Impact of Labor Obligations on Credit Markets Jack Favilukis, University of British Columbia Xiaoji Lin, University of Minnesota Xiaofei Zhao, Georgetown University Discussant: Mindy Z. Xiaolan, University of Texas at Austin
3:45 pm	Banking, Trade, and the Making of a Dominant Currency Gita Gopinath, International Monetary Fund Jeremy C. Stein, Harvard University and NBER Discussant: Arvind Krishnamurthy, Stanford University and NBER
4:35 pm	Adjourn
	Tuesday, July 17
12:00 pm	Lunch
1:00 pm	Credit Misallocation During the European Financial Crisis Fabiano Schivardi, Luiss Guido Carli University Enrico Sette, Bank of Italy Guido Tabellini, IGIER Discussant: Alexi Savov, New York University and NBER
1:50 pm	Leverage over the Life Cycle and Implications for Firm Growth and Shock Responsiveness Emin Dinlersoz, U.S. Census Bureau Henry R. Hyatt, U.S. Census Bureau Sebnem Kalemli-Ozcan, Brown University and NBER Veronika Penciakova, Federal Reserve Bank of Atlanta Discussant: Nicolas Crouzet, Northwestern University
2:40 pm	Break
2:55 pm	Dynamic Financial Constraints: Which Frictions Matter for Corporate Policies? Boris Nikolov, University of Lausanne- Swiss Finance Institute Lukas Schmid, University of Southern California Roberto Steri, University of Luxembourg Discussant: Vincenzo Quadrini, University of Southern California and NBER
3:45 pm	Tobin's Q and Optimal Dividends, Investment, and Liquidity in a Financially-Constrained Firm Andrew B. Abel, University of Pennsylvania and NBER Stavros Panageas, University of California, Los Angeles and NBER Discussant: Neng Wang, Cheung Kong Graduate School of Business
4:35 pm	Adjourn
	Wednesday, July 18
12:00 pm	Lunch
1:00 pm	Worldwide Taxes, Agency Conflicts, and Investment James F. Albertus, Carnegie Mellon University Brent Glover, Carnegie Mellon University Oliver J. Levine, University of Wisconsin Discussant: Robert L. McDonald, Northwestern University and NBER
1:50 pm	Accounting for Medium-Run Macro-Finance Trends: A Rising Equity Premium? (this paper cannot be posted due to publication rules) François Gourio, Federal Reserve Bank of Chicago Emmanuel Farhi, Harvard University Discussant: Matthew Rognlie, Northwestern University and NBER
2:40 pm	Break
2:55 pm	Money Markets, Collateral and Monetary Policy Fiorella De Fiore, Bank for International Settlements Marie Hoerova, European Central Bank Harald Uhlig, University of Chicago and NBER Discussant: Iván Werning, Massachusetts Institute of Technology and NBER
3:45 pm	Structuring Mortgages for Macroeconomic Stability John Y. Campbell, Harvard University and NBER Nuno Clara, Duke University Joao Cocco, London Business School Discussant: Nikolai Roussanov, University of Pennsylvania and NBER
4:35 pm	Adjourn

Participants

James F. Albertus, Carnegie Mellon University
Ruediger Bachmann, University of Notre Dame
Cynthia Balloch, London School of Economics
Santiago Bazdresch, Bank of Mexico
Luca Benzoni, Federal Reserve Bank of Chicago
John Y. Campbell, Harvard University and NBER
Christopher D. Carroll, Johns Hopkins University and NBER
David Chapman, University of Virginia
Nuno Clara, Duke University
Diego A. Comin, Dartmouth College and NBER
Nicolas Crouzet, Northwestern University
Steven J. Davis, Stanford University and NBER
Eduardo Dávila, Yale University and NBER
Janice C. Eberly, Northwestern University and NBER
Antonio Falato, Federal Reserve Board
Brent Glover, Carnegie Mellon University
Francisco Gomes, London Business School
João F. Gomes, University of Pennsylvania
Gita Gopinath, International Monetary Fund
François Gourio, Federal Reserve Bank of Chicago
Michael Haliassos, Goethe University Frankfurt
Samuel Hanson, Harvard University and NBER
Joseph G. Haubrich, Federal Reserve Bank of Cleveland
Henry R. Hyatt, U.S. Census Bureau
Yuto Iwasaki
Ṣebnem Kalemli-Özcan, Brown University and NBER
Leonid Kogan, Massachusetts Institute of Technology and NBER
Arvind Krishnamurthy, Stanford University and NBER
Dirk Krueger, University of Pennsylvania and NBER
Ari Kutai, Bank of Israel

Oliver J. Levine, University of Wisconsin
Kai Li, Peking University
Xiaoji Lin, University of Minnesota
Yang Liu, University of Hong Kong
Deborah J. Lucas, Massachusetts Institute of Technology and NBER
Robert L. McDonald, Northwestern University and NBER
Boris Nikolov, University of Lausanne- Swiss Finance Institute
Stavros Panageas, University of California, Los Angeles and NBER
Veronika Penciakova, Federal Reserve Bank of Atlanta
Carolin Pflueger, University of Chicago and NBER
Matthew Pritsker, Federal Reserve Bank of Boston
Vincenzo Quadrini, University of Southern California and NBER
Matthew Rognlie, Northwestern University and NBER
Nikolai Roussanov, University of Pennsylvania and NBER
Alexi Savov, New York University and NBER
David S. Scharfstein, Harvard University and NBER
Fabiano Schivardi, Luiss Guido Carli University
Matthew D. Shapiro, University of Michigan and NBER
Michael Siemer, Federal Reserve Board
Chester S. Spatt, Carnegie Mellon University and NBER
Jeremy C. Stein, Harvard University and NBER
Roberto Steri, University of Luxembourg
Harald Uhlig, University of Chicago and NBER
S. Vish Viswanathan, Duke University and NBER
Neng Wang, Cheung Kong Graduate School of Business
Mindy Z. Xiaolan, University of Texas at Austin
Amir Yaron, University of Pennsylvania and NBER
Xiaofei Zhao, Georgetown University
Peter Zorn, University of Munich