SI 2021 Macro, Money and Financial Markets

Markus K. Brunnermeier, Arvind Krishnamurthy, and Guillermo Ordoñez, Organizers

July 13-15, 2021

on Zoom.us

Conference Code of Conduct

Tuesday, July 13
11:00 am
Nicolas Caramp, University of California at Davis
Dejanir Silva, Purdue University

Monetary Policy and Wealth Effects: The Role of Risk and Heterogeneity
Discussant: Giovanni L. Violante, Princeton University and NBER
11:50 am
Break
12:00 noon
Vladimir Asriyan, Universitat Pompeu Fabra
Luc Laeven, European Central Bank
Alberto Martin, CREI, UPF and BSE
Alejandro N. Van der Ghote, European Central Bank
Victoria Vanasco, Center for Research in Economics and Statistics

Falling Interest Rates and Misallocation: Lessons from General Equilibrium
Discussant: Hélène Rey, London Business School and NBER
12:50 pm
Break
1:00 pm
Patrick Bolton, Columbia University
Ye Li, University of Washington
Neng Wang, Cheung Kong Graduate School of Business
Jinqiang Yang, Shanghai University of Finance and Economics

Dynamic Banking and the Value of Deposits (slides)
Discussant: Jonathan Payne, Princeton University
1:50 pm
Adjourn
Wednesday, July 14
Joint Session ME/MEFM/IFM
11:30 am
Emmanuel Farhi, Harvard University
Jean Tirole, Toulouse School of Economics

Industrial Monetary Policy (slides)
Discussant: Arvind Krishnamurthy, Stanford University and NBER
12:20 pm
Break
12:30 pm
Gabriel Chodorow-Reich, Harvard University and NBER
Olivier Darmouni, Columbia University
Stephan Luck, Federal Reserve Bank of New York
Matthew C. Plosser, Federal Reserve Bank of New York

Bank Liquidity Provision Across the Firm Size Distribution
Discussant: Yueran Ma, University of Chicago and NBER
1:20 pm
Break
1:30 pm
Manuel Amador, University of Minnesota and NBER
Javier Bianchi, Federal Reserve Bank of Minneapolis

Bank Runs, Fragility, and Credit Easing
Discussant: Todd Keister, Rutgers University
2:20 pm
Adjourn
Thursday, July 15
Joint session with Asset Pricing
11:00 am
Huifeng Chang, University of California, Los Angeles
Adrien d'Avernas, Stockholm School of Economics
Andrea L. Eisfeldt, University of California, Los Angeles and NBER

Bonds vs. Equities: Information for Investment
Discussant: Janice C. Eberly, Northwestern University and NBER
11:50 am
Break
12:00 noon
Anmol Bhandari, University of Minnesota and NBER
David Evans, University of Oregon
Mikhail Golosov, University of Chicago and NBER
Thomas J. Sargent, New York University and NBER

Managing Public Portfolios
Discussant: Deborah J. Lucas, Massachusetts Institute of Technology and NBER
12:50 pm
MEFM adjourns and AP continues
1:10 pm
Alyssa G. Anderson, Federal Reserve Board of Governors
Wenxin Du, Harvard University and NBER
Bernd Schlusche, Federal Reserve Board of Governors

Arbitrage Capital of Global Banks
Discussant: Darrell Duffie, Stanford University and NBER
2:00 pm
Break
2:10 pm
Nicolae B. Gârleanu, Washington University in St Louis and NBER
Stavros Panageas, University of California, Los Angeles and NBER
Geoffery X. Zheng, NYU Shanghai

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
Valentin Haddad, University of California, Los Angeles and NBER
Paul Huebner, Stockholm School of Economics
Erik Loualiche, University of Minnesota

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