Wednesday, July 10
8:00 am
Coffee and Pastries
8:30 am

Financial Frictions and the Wealth Distribution (slides)

Jesús Fernández-Villaverde, University of Pennsylvania and NBER
Galo Nuno Barrau, Banco de España
Samuel Hurtado, Banco de España

Discussant:
Lars P. Hansen, University of Chicago and NBER
9:30 am
Break
9:45 am

Financing Insurance

Adriano A. Rampini, Duke University and NBER
S. Vish Viswanathan, Duke University and NBER

Discussant:
Giorgia Piacentino, University of Southern California and NBER
10:45 am
Break
11:00 am

Global Investors, the Dollar, and U.S. Credit Conditions

Friederike Niepmann, Federal Reserve Board of Governors
Tim Schmidt-Eisenlohr, Federal Reserve Board of Governors

Discussant:
Jesse Schreger, Columbia University and NBER
12:00 pm
Lunch
Afternoon joint with Monetary Economics and International Finance and Macroecnomics in the Ballroom
1:00 pm

Mussa Puzzle Redux

Oleg Itskhoki, Harvard University and NBER
Dmitry Mukhin, London School of Economics

Discussant:
Fabrizio Perri, Federal Reserve Bank of Minneapolis
2:00 pm
Break
2:30 pm

The Two-Pillar Policy for the RMB

Urban Jermann, University of Pennsylvania and NBER
Bin Wei, Federal Reserve Bank of Atlanta
Vivian Yue, Emory University and NBER

Discussant:
Wenxin Du, Harvard University and NBER
3:30 pm

How Monetary Policy Shaped the Housing Boom

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

Discussant:
Joseph S. Vavra, University of Chicago and NBER
4:30 pm
Adjourn
6:00 pm
Clambake at the Royal Sonesta Hotel
Thursday, July 11
8:00 am
Coffee and Pastries
Morning joint with Asset Pricing in Ballrom
8:30 am

Pledgeability and Asset Prices: Evidence from the Chinese Corporate Bond Markets

Hui Chen, Massachusetts Institute of Technology and NBER
Zhuo Chen, Tsinghua University
Zhiguo He, Stanford University and NBER
Jinyu Liu, University of International Business and Economics
Rengming Xie, CITIC Securities

Discussant:
Tao Zha, Emory University and NBER
9:30 am

Risk Free Interest Rates

Jules H. van Binsbergen, University of Pennsylvania and NBER
William F. Diamond, University of Pennsylvania
Marco Grotteria, London Business School

Discussant:
Annette Vissing-Jorgensen, Federal Reserve Board of Governors and NBER
10:30 am
Break
11:00 am

The Short Rate Disconnect in a Monetary Economy

Moritz Lenel, Princeton University and NBER
Monika Piazzesi, Stanford University and NBER
Martin Schneider, Stanford University and NBER

Discussant:
Michael Woodford, Columbia University and NBER
12:00 pm
Lunch and Adjourn