SI 2021 Capital Markets and the Economy

Janice C. Eberly and Deborah J. Lucas, Organizers

July 12-14, 2021

on Zoom.us

Conference Code of Conduct

Monday, July 12
FORMAT: Authors 20 minutes, Discussants 15 minutes, Open discussion 15 minutes
1:00 pm

Exorbitant Privilege? The Bond Market Subsidy of Prospective Fallen Angels
Discussant: Francis A. Longstaff, University of California, Los Angeles and NBER
1:50 pm

Equity Factors and Firms' Perceived Cost of Capital
Discussant: Campbell R. Harvey, Duke University and NBER
2:40 pm
Break
2:50 pm

Hidden Non-Performing Loans in China
Discussant: Zheng Michael Song, The Chinese University of Hong Kong (CUHK)
3:40 pm

The SOE Premium and Government Support in China’s Credit Market
Discussant: Chang-Tai Hsieh, University of Chicago and NBER
4:30 pm
Adjourn
Tuesday, July 13
FORMAT: Authors 20 minutes, Discussants 15 minutes, Open discussion 15 minutes
1:00 pm

Monetary and Macroprudential Policy Complementarities: Evidence from European Credit Registers
Discussant: David Thesmar, Massachusetts Institute of Technology and NBER
1:50 pm

Pandemic Lending: The Unintended Effects of Model-based Regulation (slides)
Discussant: Philip Strahan, Boston College and NBER
2:40 pm
Break
2:50 pm

It's What You Say and What You Buy: A Holistic Evaluation of the Corporate Credit Facilities
Discussant: Annette Vissing-Jorgensen, Federal Reserve Board of Governors and NBER
3:40 pm

Financial Fragility in the COVID-19 Crisis: The Case of Investment Funds in Corporate Bond Markets
Discussant: Anil K Kashyap, University of Chicago and NBER
4:30 pm
Adjourn
Wednesday, July 14
FORMAT: Authors 20 minutes, Discussants 15 minutes, Open discussion 15 minutes
1:00 pm

Bubbles and the Value of Innovation
Discussant: Lawrence D.W. Schmidt, Massachusetts Institute of Technology
1:50 pm

Real-Time Forward-Looking Skewness over the Business Cycle
Discussant: James D. Hamilton, University of California, San Diego and NBER
2:40 pm
Break
2:50 pm

The Macroeconomic Effects of Corporate Tax Reforms
Discussant: Thomas Winberry, University of Pennsylvania and NBER
3:40 pm

Debt Sustainability in a Low Interest Rate World
Discussant: John H. Cochrane, Stanford University and NBER
4:30 pm
Adjourn