Tuesday, July 13
11:00 am

Monetary Policy and Wealth Effects: The Role of Risk and Heterogeneity

Nicolas Caramp, University of California, Davis
Dejanir Silva, Purdue University

Discussant:
Giovanni L. Violante, Princeton University and NBER
11:50 am
Break
12:00 noon

Falling Interest Rates and Misallocation: Lessons from General Equilibrium

Vladimir Asriyan, Universitat Pompeu Fabra
Luc Laeven, European Central Bank
Alberto Martin, CREI, UPF and BSE
Alejandro N. Van der Ghote, European Central Bank
Victoria Vanasco, Center for Research in Economics and Statistics

Discussant:
Hélène Rey, London Business School and NBER
12:50 pm
Break
1:00 pm

Dynamic Banking and the Value of Deposits (slides)

Patrick Bolton, Columbia University
Ye Li, University of Washington
Neng Wang, Dean Cheung Kong Graduate School of Business
Jinqiang Yang, Shanghai University of Finance and Economics

Discussant:
Jonathan Payne, Princeton University
1:50 pm
Adjourn
Wednesday, July 14
Joint Session ME/MEFM/IFM
11:30 am

Industrial Monetary Policy (slides)

Emmanuel Farhi, Harvard University
Jean Tirole, Toulouse School of Economics

Discussant:
Arvind Krishnamurthy, Stanford University and NBER
12:20 pm
Break
12:30 pm

Bank Liquidity Provision Across the Firm Size Distribution

Gabriel Chodorow-Reich, Harvard University and NBER
Olivier Darmouni, Columbia University
Stephan Luck, Federal Reserve Bank of New York
Matthew C. Plosser, Federal Reserve Bank of New York

Discussant:
Yueran Ma, University of Chicago and NBER
1:20 pm
Break
1:30 pm

Bank Runs, Fragility, and Credit Easing

Manuel Amador, University of Minnesota and NBER
Javier Bianchi, Federal Reserve Bank of Minneapolis

Discussant:
Todd Keister, Rutgers University
2:20 pm
Adjourn
Thursday, July 15
Joint session with Asset Pricing
11:00 am

Bonds vs. Equities: Information for Investment

Huifeng Chang, University of California, Los Angeles
Adrien d'Avernas, Stockholm School of Economics
Andrea L. Eisfeldt, University of California, Los Angeles and NBER

Discussant:
Janice C. Eberly, Northwestern University and NBER
11:50 am
Break
12:00 noon

Managing Public Portfolios

Anmol Bhandari, University of Minnesota and NBER
David Evans, University of Oregon
Mikhail Golosov, University of Chicago and NBER
Thomas J. Sargent, New York University and NBER

Discussant:
Deborah J. Lucas, Massachusetts Institute of Technology and NBER
12:50 pm
MEFM adjourns and AP continues
1:10 pm

Arbitrage Capital of Global Banks

Alyssa G. Anderson, Federal Reserve Board of Governors
Wenxin Du, Harvard University and NBER
Bernd Schlusche, Federal Reserve Board of Governors

Discussant:
Darrell Duffie, Stanford University and NBER
2:00 pm
Break
2:10 pm

A Long Leg and a Short Leg Make For a Wobbly Equilibrium

Nicolae B. Gârleanu, Washington University in St Louis and NBER
Stavros Panageas, University of California, Los Angeles and NBER
Geoffery X. Zheng, NYU Shanghai

Discussant:
Itamar Drechsler, University of Pennsylvania and NBER
3:00 pm
Break
3:10 pm

How Competitive is the Stock Market? Theory, Evidence from Portfolios, and Implications for the Rise of Passive Investing

Valentin Haddad, University of California, Los Angeles and NBER
Paul Huebner, Stockholm School of Economics
Erik Loualiche, University of Minnesota

Discussant:
Laura Veldkamp, Columbia University and NBER
4:00 pm
Adjourn