Monday, July 10
9:00 am
Coffee and Pastries
9:30 am
Introductions
9:40 am

The Shifting Finance of Electricity Generation

Aleksandar Andonov, University of Amsterdam
Joshua Rauh, Stanford University and NBER

Discussant:
Steve Cicala, Tufts University and NBER
10:30 am

Irreplaceable Venture Capitalists

Michael Ewens, Columbia University and NBER
Denis Sosyura, Arizona State University

Discussant:
Morten Sorensen, Dartmouth College and NBER
11:20 am
Break
11:40 am

The Value of Ratings: Evidence from their Introduction in Securities Markets

Asaf Bernstein, University of Colorado Boulder and NBER
Carola Frydman, Northwestern University and NBER
Eric Hilt, Wellesley College and NBER

Discussant:
Michael R. Roberts, University of Pennsylvania and NBER
12:30 pm
Lunch
1:40 pm

How Do Health Insurance Costs Affect Firm Labor Composition and Technology Investment?

Janet Gao, Georgetown University
Shan Ge, New York University
Lawrence Schmidt, Massachusetts Institute of Technology
Cristina Tello-Trillo, U.S. Census Bureau

Discussant:
David A. Matsa, Northwestern University and NBER
2:30 pm
Break
3:00 pm

Job Transitions and Employee Earnings After Acquisitions: Linking Corporate and Worker Outcomes

Terry Moon, University of British Columbia
David Arnold, University of California, San Diego and NBER
Kevin S. Milligan, University of British Columbia and NBER
Amirhossein Tavakoli, University of British Columbia

Discussant:
Rebecca Zarutskie, Federal Reserve Bank of Dallas
3:50 pm

Closing the Revolving Door

Joseph A. Kalmenovitz, University of Rochester
Siddharth Vij, University of Georgia
Kairong Xiao, Columbia University and NBER

Discussant:
Elisabeth Kempf, Harvard University and NBER
4:40 pm
Adjourn
Tuesday, July 11
8:30 am
Coffee and Pastries
9:10 am

Can Finance Save the World? Measurement and Effects of Bank Coal Exit Policies

Daniel Green, Harvard University
Boris Vallee, Harvard University

Discussant:
Jonathan Karpoff, University of Washington
10:00 am

ESG: A Panacea for Market Power?

Philip Bond, University of Washington
Doron Y. Levit, University of Washington

Discussant:
Andrey Malenko, Boston College
10:50 am
Break
11:19 am
Joint Session with Risks of Financial Institutions
11:20 am

The Secular Decline in Interest Rates and the Rise of Shadow Banks

Andrés P. Sarto, Chicago Booth
Olivier Wang, New York University

Discussant:
Adi Sunderam, Harvard University and NBER
12:10 pm
Lunch
1:10 pm

Central Banks as Dollar Lenders of Last Resort: Implications for Regulation and Reserve Holdings

Mitali Das, International Monetary Fund
Gita Gopinath, International Monetary Fund
Taehoon Kim, International Monetary Fund
Jeremy C. Stein, Harvard University and NBER

Discussant:
Arvind Krishnamurthy, Stanford University and NBER (slides)
2:00 pm
Break
2:20 pm
Panel on Recent Bank Runs and Financial Instability
Viral Acharya, New York University and NBER
Gregor Matvos, Northwestern University and NBER
Manju Puri, Duke University and NBER
Philipp Schnabl, New York University and NBER
Slides
3:50 pm
Adjourn
Martin Feldstein Lecture follows at 4:00 pm