SI 2020 Capital Markets and the Economy

Janice C. Eberly and Deborah J. Lucas, Organizers

July 6-8, 2020

on Zoom.us

Conference Code of Conduct

Monday, July 6
1:00 pm
Xavier Gabaix, Harvard University and NBER
Ralph Koijen, University of Chicago and NBER

In Search of the Origins of Financial Fluctuations: The Inelastic Markets Hypothesis
Discussant: Dimitri Vayanos, London School of Economics and NBER (slides)
1:50 pm
Fotis Grigoris, University of Iowa
Yunzhi Hu, University of North Carolina at Chapel Hill
Gill Segal, University of North Carolina at Chapel Hill

Counterparty Risk: Implications for Network Linkages and Asset Prices
Discussant: Maryam Farboodi, Massachusetts Institute of Technology and NBER
2:40 pm
Break
2:50 pm
Hui Chen, Massachusetts Institute of Technology and NBER
Winston Wei Dou, University of Pennsylvania and NBER
Hongye Guo, University of Hong Kong
Yan Ji, Hong Kong University of Science and Technology

Feedback and Contagion through Distressed Competition
Discussant: Ye Li, University of Washington (slides)
3:40 pm
Nickolay M. Gantchev, University of Warwick
Mariassunta Giannetti, Stockholm School of Economics
Rachel Li, The University of Alabama

Does Money Talk? Market Discipline through Selloffs and Boycotts
Discussant: Martin Oehmke, London School of Economics
4:30 pm
Adjourn
Tuesday, July 7
1:00 pm
Greg Buchak, Stanford University
Gregor Matvos, Northwestern University and NBER
Tomasz Piskorski, Columbia University and NBER
Amit Seru, Stanford University and NBER

Beyond the Balance Sheet Model of Banking: Implications for Bank Regulation and Monetary Policy
Discussant: Dean Corbae, University of Wisconsin - Madison and NBER
1:50 pm
Seong Byun, Virginia Commonwealth University
Valery Polkovnichenko, Federal Reserve Board of Governors
Michael J. Rebello, University of Texas at Dallas

The Long and Short of Cash Flow Shocks and Debt Financing
Discussant: Toni Whited, University of Michigan and NBER
2:40 pm
Break
2:50 pm
Refet S. Gürkaynak, Bilkent University
Gokce Karasoy-Can, Central Bank of Turkey
Sang Seok Lee, Bilkent University

Stock Market's Assessment of Monetary Policy Transmission: The Cash Flow Effect
Discussant: Anil K Kashyap, University of Chicago and NBER
3:40 pm
Alexandre Corhay, University of Toronto
Howard Kung, London Business School
Lukas Schmid, University of Southern California

Q: Risk, Rents, or Growth? (slides)
Discussant: Callum J. Jones, Federal Reserve Board of Governors
4:30 pm
Adjourn
Wednesday, July 8
1:00 pm
Markus K. Brunnermeier, Princeton University and NBER
Sebastian A. Merkel, University of Exeter
Yuliy Sannikov, Stanford University

The Fiscal Theory of the Price Level with a Bubble (slides)
Discussant: Narayana R. Kocherlakota, University of Rochester and NBER
1:50 pm
Marco Bassetto, Federal Reserve Bank of Minneapolis
Wei Cui, University College London

A Ramsey Theory of Financial Distortions (slides)
Discussant: Jiang Wang, Massachusetts Institute of Technology and NBER
2:40 pm
Break
2:50 pm
Max Miller, Harvard University
James Paron, University of Pennsylvania
Jessica Wachter, University of Pennsylvania and NBER

Sovereign Default and the Decline in Interest Rates (slides)
Discussant: François Gourio, Federal Reserve Bank of Chicago
3:40 pm
Cynthia Balloch, London School of Economics
Yann Koby, Brown University

Low Rates and Bank Loan Supply: Theory and Evidence from Japan
Discussant: Randall Morck, University of Alberta and NBER
4:30 pm
Adjourn

FORMAT: Authors 20 minutes
Discussants 15 minutes
Open discussion 15 minutes