Tuesday, July 13
11:00 am

The Value of Arbitrage

Eduardo Dávila, Yale University and NBER
Daniel D. Graves, Yale University
Cecilia Parlatore, New York University and NBER

Discussant:
Benjamin M. Hébert, Stanford University and NBER
11:40 am
Break
11:50 am
Lighting Rounds

Arbitraging Covered Interest Rate Parity Deviations: Testing a New Channel of Bank Lending

Lorena Keller, University of Pennsylvania

U.S. Dollar Currency Premium in Corporate Bonds (slides)

John A. Caramichael, Bank of America
Gita Gopinath, International Monetary Fund
Gordon Y. Liao, Circle

The Non-U.S. Bank Demand for U.S. Dollar Assets (slides)

Tobias Adrian, International Monetary Fund
Peichu Xie, International Monetary Fund
12:45 pm
Break
1:20 pm

International Trade and the Risk in Bilateral Exchange Rates

Ramin Hassan, University of Minnesota
Erik Loualiche, University of Minnesota
Alexandre R. Pecora, University of Minnesota
Colin Ward, University of Alberta

Discussant:
Robert J. Richmond, New York University and NBER
2:00 pm
Break
2:10 pm

Currency Hedging: Managing Cash Flow Exposure

Laura Alfaro, Harvard University and NBER
Mauricio Calani, Central Bank of Chile
Liliana Varela, London School of Economics

Discussant:
Adriano A. Rampini, Duke University and NBER
2:50 pm
Break
3:00 pm

Beyond Incomplete Spanning: Convenience Yields and Exchange Rate Disconnect

Zhengyang Jiang, Northwestern University and NBER
Arvind Krishnamurthy, Stanford University and NBER
Hanno Lustig, Stanford University and NBER

Discussant:
Dimitri Vayanos, London School of Economics and NBER
3:50 pm
Adjourn