SI 2021 Asset Pricing

Ralph S. J. Koijen and Sydney C. Ludvigson, Organizers

July 15-16, 2021

on Zoom.us

Conference Code of Conduct

Thursday, July 15
First two papers joint with Macro, Money and Financial Markets
11:00 am

Bonds vs. Equities: Information for Investment
Discussant: Janice C. Eberly, Northwestern University and NBER
11:50 am
Break
12:00 noon

Managing Public Portfolios
Discussant: Deborah J. Lucas, Massachusetts Institute of Technology and NBER
12:50 pm
Break
1:10 pm

Arbitrage Capital of Global Banks
Discussant: Darrell Duffie, Stanford University and NBER
2:00 pm
Break
2:10 pm

A Long Leg and a Short Leg Make For a Wobbly Equilibrium
Discussant: Itamar Drechsler, University of Pennsylvania and NBER
3:00 pm
Break
3:10 pm

How Competitive is the Stock Market? Theory, Evidence from Portfolios, and Implications for the Rise of Passive Investing
Discussant: Laura Veldkamp, Columbia University and NBER
4:00 pm
Adjourn
Friday, July 16
10:00 am

Bond Convenience Yields in the Eurozone Currency Union
Discussant: Hélène Rey, London Business School and NBER
10:50 am
Break
10:55 am

Debt As Safe Asset (slides)
Discussant: Ricardo J. Caballero, Massachusetts Institute of Technology and NBER
11:45 am
Break
11:50 am

The End of Privilege (slides)
Discussant: Daniel Greenwald, New York University and NBER
12:40 pm
Break
1:00 pm
Panel: Trends in Market Concentration, Rents, and Investment: Implications and Insights for Asset Prices"

Chair: Luigi Zingales, University of Chicago and NBER

Participants:
Janice Eberly, Northwestern University and NBER
Jan de Loecker, Katholieke Universiteit Leuven and NBER
Thomas Philippon, New York University and NBER
2:00 pm
Break
2:10 pm

Sovereign Default and the Decline in Interest Rates
Discussant: Ludwig Straub, Harvard University and NBER
3:00 pm
Break
3:10 pm

Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect (slides)
Discussant: Jeremy C. Stein, Harvard University and NBER
4:00 pm
Adjourn