Monday, July 6
1:00 pm

In Search of the Origins of Financial Fluctuations: The Inelastic Markets Hypothesis

Xavier Gabaix, Harvard University and NBER
Ralph Koijen, University of Chicago and NBER

Discussant:
Dimitri Vayanos, London School of Economics and NBER (slides)
1:50 pm

Counterparty Risk: Implications for Network Linkages and Asset Prices

Fotis Grigoris, University of Iowa
Yunzhi Hu, University of North Carolina at Chapel Hill
Gill Segal, University of North Carolina at Chapel Hill

Discussant:
Maryam Farboodi, Massachusetts Institute of Technology and NBER
2:40 pm
Break
2:50 pm

Feedback and Contagion through Distressed Competition

Hui Chen, Massachusetts Institute of Technology and NBER
Winston Wei Dou, University of Pennsylvania and NBER
Hongye Guo, University of Hong Kong
Yan Ji, Hong Kong University of Science and Technology

Discussant:
Ye Li, University of Washington (slides)
3:40 pm

Does Money Talk? Market Discipline through Selloffs and Boycotts

Nickolay M. Gantchev, University of Warwick
Mariassunta Giannetti, Stockholm School of Economics
Rachel Li, The University of Alabama

Discussant:
Martin Oehmke, London School of Economics
4:30 pm
Adjourn
Tuesday, July 7
1:00 pm

Beyond the Balance Sheet Model of Banking: Implications for Bank Regulation and Monetary Policy

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

Discussant:
Dean Corbae, University of Wisconsin - Madison and NBER
1:50 pm

The Long and Short of Cash Flow Shocks and Debt Financing

Seong Byun, Virginia Commonwealth University
Valery Polkovnichenko, Federal Reserve Board of Governors
Michael J. Rebello, University of Texas at Dallas

Discussant:
Toni Whited, University of Michigan and NBER
2:40 pm
Break
2:50 pm

Stock Market's Assessment of Monetary Policy Transmission: The Cash Flow Effect

Refet S. Gürkaynak, Bilkent University
Gokce Karasoy-Can, Central Bank of Turkey
Sang Seok Lee, Bilkent University

Discussant:
Anil K Kashyap, University of Chicago and NBER
3:40 pm

Q: Risk, Rents, or Growth? (slides)

Alexandre Corhay, University of Toronto
Howard Kung, London Business School
Lukas Schmid, University of Southern California

Discussant:
Callum J. Jones, Federal Reserve Board of Governors
4:30 pm
Adjourn
Wednesday, July 8
1:00 pm

The Fiscal Theory of the Price Level with a Bubble (slides)

Markus K. Brunnermeier, Princeton University and NBER
Sebastian A. Merkel, University of Bristol
Yuliy Sannikov, Stanford University

Discussant:
Narayana R. Kocherlakota, University of Rochester and NBER
1:50 pm

A Ramsey Theory of Financial Distortions (slides)

Marco Bassetto, Federal Reserve Bank of Minneapolis
Wei Cui, University College London

Discussant:
Jiang Wang, Massachusetts Institute of Technology and NBER
2:40 pm
Break
2:50 pm

Sovereign Default and the Decline in Interest Rates (slides)

Max Miller, Harvard University
James Paron, University of Pennsylvania
Jessica Wachter, University of Pennsylvania and NBER

Discussant:
François Gourio, Federal Reserve Bank of Chicago
3:40 pm

Low Rates and Bank Loan Supply: Theory and Evidence from Japan

Cynthia Balloch, London School of Economics
Yann Koby, Brown University

Discussant:
Randall Morck, University of Alberta and NBER
4:30 pm
Adjourn
FORMAT: Authors 20 minutes
Discussants 15 minutes
Open discussion 15 minutes