Financial Market Frictions and Systemic Risks
Wenxin Du, Alp Simsek, and Chester S. Spatt, Organizers
March 8, 2024
NBER, 1050 Massachusetts Ave, Cambridge, MA
| Friday, March 8 | ||||
| 2nd Floor Conference Room, NBER, 1050 Massachusetts Ave., Cambridge | ||||
| Continental Breakfast | ||||
| 8:14 am |
Session I Chair: Chester Spatt, Carnegie Mellon University and NBER |
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| 8:15 am | Welcome and Introductions | |||
| 8:30am |
Mathias Kruttli, Indiana University Marco Macchiavelli, University of Massachusetts, Amherst Phillip J. Monin, Federal Reserve Board Xing (Alex) Zhou, Southern Methodist University Liquidity Provision in a One-Sided Market: The Role of Dealer-Hedge Fund Relations
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| 9:30 am |
Darrell Duffie, Stanford University and NBER Michael J. Fleming, Federal Reserve Bank of New York Frank Keane, Federal Reserve Bank of New York Claire Nelson, Princeton University Or Shachar, Federal Reserve Bank of New York Peter Van Tassel Dealer Capacity and US Treasury Market Functionality
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| 10:30 am | Break | |||
| 11:00 am |
Sergio A. Correia, Federal Reserve Board Stephan Luck, Federal Reserve Bank of New York Emil Verner, Massachusetts Institute of Technology and NBER Failing Banks
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| 12:00 pm | Lunch | |||
| 12:59 pm |
Session II: "Lightning Round" Presentations Chair: Alp Simsek, Yale University and NBER |
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| 1:00 pm | Discussion of Research Opportunities Involving Financial Markets and Systemic Risk | |||
| 1:30pm |
Nancy Wallace, Haas School of Business, University of California, Berkeley Adrien d'Avernas, Stockholm School of Economics Andrea L. Eisfeldt, University of California, Los Angeles and NBER Can Huang, University of Illinois at Urbana-Champaign Richard Stanton, University of California at Berkeley The Deposit Business at Large vs. Small Banks |
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| 1:50pm |
Viral V. Acharya, New York University and NBER Nicola Cetorelli, Federal Reserve Bank of New York Bruce Tuckman, New York University Stern School of Business Where Do Banks End and NBFIs Begin? |
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| 2:10pm |
Tobias J. Moskowitz, Yale University and NBER Chase P. Ross, Federal Reserve Board Sharon Y. Ross, Federal Reserve Board Kaushik Vasudevan, Purdue University Quantities and Covered-Interest Parity |
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| 2:30 pm | Break | |||
| 2:44 pm |
Session III Chair: Wenxin Du, Columbia University and NBER |
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| 2:45pm |
Mariassunta Giannetti, Stockholm School of Economics Chotibhak Jotikasthira, Southern Methodist University Andreas C. Rapp, Board of Governors of the Federal Reserve System Martin Waibel, Stockholm School of Economics Intermediary Balance Sheet Constraints, Bond Mutual Funds' Strategies, and Bond Returns
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| 3:45pm |
Hyun Song Shin, Bank for International Settlements Valentina Bruno, American University Carol Bertaut, Federal Reserve Board Original Sin Redux: Role of Duration Risk
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| 4:45 pm | Closing Remarks and Adjourn | |||