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Thursday, July 9
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Joint Session with MEFM
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11:30 am
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The U.S. Public Debt Valuation Puzzle
(slides)
Zhengyang Jiang, Northwestern University and NBER
Hanno Lustig, Stanford University and NBER
Stijn Van Nieuwerburgh, Columbia University and NBER
Mindy Z. Xiaolan, University of Texas at Austin
Discussants:
Emmanuel Farhi, Harvard University
Jules H. van Binsbergen, University of Pennsylvania and NBER
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12:30 pm
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Monetary Policy with Opinionated Markets
(slides)
Ricardo J. Caballero, Massachusetts Institute of Technology and NBER
Alp Simsek, Yale University and NBER
Discussants:
Alexi Savov, New York University and NBER
Annette Vissing-Jorgensen, Federal Reserve Board of Governors and NBER
( slides)
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Money Market Stress and Banks
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1:30 pm
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The Market Events of Mid-September 2019
(slides)
Gara Afonso, Federal Reserve Bank of New York
Marco Cipriani, Federal Reserve Bank of New York
Adam Copeland, Federal Reserve Bank of New York
Anna Kovner, Federal Reserve Bank of Richmond
Gabriele La Spada, Federal Reserve Bank of New York
Antoine Martin, Federal Reserve Bank of New York
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U.S. Banks and Global Liquidity
(slides)
Ricardo Correa, Federal Reserve Board of Governors
Wenxin Du, Harvard University and NBER
Gordon Y. Liao, Circle
Discussant:
Darrell Duffie, Stanford University and NBER
( slides)
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2:25 pm
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Adjourn
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Friday, July 10
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10:00 am
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Information Transmission from the Federal Reserve to the Stock Market: Evidence from Governors’ Calendars
Annette Vissing-Jorgensen, Federal Reserve Board of Governors and NBER
Adair Morse, University of California, Berkeley and NBER
Discussant:
Narayana R. Kocherlakota, University of Rochester and NBER
( slides)
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11:00 am
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Break
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11:05 am
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Can Security Design Foster Household Risk-Taking?
Laurent E. Calvet, EDHEC Business School
Claire Celerier, University of Toronto
Paolo Sodini, Stockholm School of Economics
Boris Vallee, Harvard University
Discussant:
Jonathan A. Parker, Massachusetts Institute of Technology and NBER
( slides)
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12:05 pm
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Break
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12:15 pm
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Panel Discussion Related to the Ongoing Covid-19 Crisis
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Panel #1
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Firm-Level Exposure to Epidemic Diseases: Covid-19, SARS, and H1N1
Tarek Alexander Hassan, Boston University and NBER
Stephan Hollander, Tilburg University
Laurence van Lent, Frankfurt School of Finance and Management
Ahmed Tahoun, London Business School
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Panel #2
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When Selling Becomes Viral: Disruptions in Debt Markets in the COVID-19 Crisis and the Fed's Response
(slides)
Valentin Haddad, University of California, Los Angeles and NBER
Alan Moreira, University of Rochester and NBER
Tyler Muir, University of California, Los Angeles and NBER
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Panel #3
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Inside the Mind of a Stock Market Crash
Stefano Giglio, Yale University and NBER
Matteo Maggiori, Stanford University and NBER
Johannes Stroebel, New York University and NBER
Stephen Utkus, University of Pennsylvania
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1:15 pm
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Break
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1:30 pm
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A Q-Theory of Inequality
Emilien Gouin-Bonenfant, Columbia University
Matthieu Gomez, Columbia University
Discussant:
Amir Sufi, University of Chicago and NBER
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2:30 pm
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Non-Fundamental Demand and Style Returns
Itzhak Ben-David, The Ohio State University and NBER
Jiacui Li, University of Utah
Andrea Rossi, University of Arizona
Yang Song, University of Washington
Discussant:
Martin Lettau, University of California, Berkeley and NBER
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3:30 pm
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Break
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3:45 pm
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Combination Session: Global Fixed Income and Currency Markets
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A Quantity-Driven Theory of Term Premiums and Exchange Rates
Robin Greenwood, Harvard University and NBER
Samuel Hanson, Harvard University and NBER
Jeremy C. Stein, Harvard University and NBER
Adi Sunderam, Harvard University and NBER
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A Preferred-Habitat Model of Term Premia and Currency Risk
(slides)
Pierre-Olivier Gourinchas, University of California, Berkeley and NBER
Walker D. Ray, London School of Economics
Dimitri Vayanos, London School of Economics and NBER
Discussant:
Hanno Lustig, Stanford University and NBER
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4:55 pm
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Adjourn
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