Wednesday, July 12
8:00 am
Coffee and Pastries
8:29 am
Morning joint with International Finance and Macroeconomics and Monetary Economics
8:30 am

Anatomy of a Run: The Terra Luna Crash

Jiageng Liu, Massachusetts Institute of Technology
Igor Makarov, London School of Economics
Antoinette Schoar, Massachusetts Institute of Technology and NBER

Discussant:
Gary B. Gorton, Yale University and NBER
9:30 am
Break
9:45 am
Panel Discussion on Banking Solvency and Monetary Policy
Janice C. Eberly, Northwestern University and NBER, Moderator
Kristin Forbes, Massachusetts Institute of Technology and NBER
Neel Kashkari, Federal Reserve Bank of Minneapolis
Philip Lane, European Central Bank
Slides
10:45 am
Break
11:00 am

What do Financial Markets say about the Exchange Rate?

Mikhail Chernov, University of California, Los Angeles and NBER
Valentin Haddad, University of California, Los Angeles and NBER
Oleg Itskhoki, Harvard University and NBER

Discussant:
Hanno Lustig, Stanford University and NBER
12:00 pm
Lunch
1:30 pm

The Macroeconomics of Trade Credit

Luigi Bocola, Stanford University and NBER
Gideon Bornstein, University of Pennsylvania
2:30 pm
Break
2:45 pm

Monetary-Based Asset Pricing: A Mixed-Frequency Structural Approach

Francesco Bianchi, Johns Hopkins University and NBER
Sydney C. Ludvigson, New York University and NBER
Sai Ma, Federal Reserve Board
3:45 pm
Break
4:00 pm
Mini Session on Instant Payment Systems
4:01 pm
Fed Now
Loretta Mester, President Federal Reserve Bank of Cleveland

Instant Payment Systems and Competition for Deposits

Sergey Sarkisyan, The Ohio State University

Can Cashless Payments Spur Economic Growth?

Amiyatosh Purnanandam, University of Michigan
Tamanna Singh Dubey, University of Michigan
5:15 pm
Adjourn
Thursday, July 13
8:00 am
Coffee and Pastries
8:01 am
Morning joint with Asset Pricing
8:30 am

Payments, Reserves, and Financial Fragility

Itay Goldstein, University of Pennsylvania and NBER
Ming Yang, University College London
Yao Zeng, University of Pennsylvania

Discussant:
Yiming Ma, Columbia University
9:30 am
Break
9:45 am

A Theory of Payment-Chain Crises

Saki Bigio, University of California, Los Angeles and NBER

Discussant:
Jonathan Payne, Princeton University
10:45 am
Break
11:00 am

The Market for Inflation Risk

Saleem A. Bahaj, University College London
Robert Czech, Bank of England
Sitong Ding, London School of Economics
Ricardo Reis, London School of Economics

Discussant:
Carolin Pflueger, University of Chicago and NBER
12:00 pm
Lunch