New Developments in Long-Term Asset Management

Monika Piazzesi and Luis M. Viceira, Organizers

January 21-22, 2021

on Zoom.us

Conference Code of Conduct

Thursday, January 21
 Each session 35 minutes long with the following format: 15 minute presentation, 15 minute discussion, 5 minute Q&A
10:00 am
Patrick Bolton, Columbia University
Marcin Kacperczyk, Imperial College London

Global Pricing of Carbon-Transition Risk (slides)
Discussant: Harrison Hong, Columbia University and NBER
10:35 am
Daniel Greenwald, New York University and NBER
Martin Lettau, University of California, Berkeley and NBER
Sydney C. Ludvigson, New York University and NBER

How the Wealth Was Won: Factor Shares as Market Fundamentals
Discussant: Valentin Haddad, University of California, Los Angeles and NBER
11:10 am
Break
11:15 am
Juliane Begenau, Stanford University and NBER
Emil Siriwardane, Harvard University and NBER

How Do Private Equity Fees Vary across Public Pensions? (slides)
Discussant: Stijn Van Nieuwerburgh, Columbia University and NBER
11:50 am
Patrick Augustin, McGill University
Mikhail Chernov, University of California, Los Angeles and NBER
Lukas Schmid, University of Southern California
Dongho Song, Johns Hopkins University

The Term Structure of CIP Violations (slides)
Discussant: Michael Johannes, Columbia University
12:25 pm
Break
12:30 pm
Keynote address by John Cochrane, Stanford University and NBER (paper)
1:30 pm
Adjourn
Friday, January 22
10:00 am
Lucian A. Bebchuk, Harvard University and NBER
Doron Y. Levit, University of Washington

Should Short-Term Shareholders Have Less Rights?
Discussant: Jeremy C. Stein, Harvard University and NBER
10:35 am
Ralph S. J. Koijen, University of Chicago and NBER
Motohiro Yogo, Princeton University and NBER

Exchange Rates and Asset Prices in a Global Demand System (slides)
Discussant: Karen K. Lewis, University of Pennsylvania and NBER
11:10 am
Break
11:15 am
Anil K. Kashyap, University of Chicago and NBER
Natalia Kovrijnykh, Arizona State University
Jian Li, Columbia University
Anna Pavlova, London Business School

Is There Too Much Benchmarking in Asset Management? (slides)
Discussant: Alp Simsek, Yale University and NBER
11:50 am
Camille Gardner, New York University
Peter Blair Henry, Stanford University and NBER

Global Infrastructure: Potential, Perils, and a Framework for Distinction (slides)
Discussant: Ralph S. J. Koijen, University of Chicago and NBER
12:25 pm
Break
12:30 pm
Panel on Capital Markets and Investing during the Pandemic
John Campbell, Harvard University and NBER
Kathryn Kaminski, AlphaSimplex Group LLC
Owen Lamont, Wellington Asset Management
Tobias Moskowitz, Yale University and NBER
1:30 pm
Adjourn