SI 2022 Capital Markets and the Economy

Janice C. Eberly and Deborah J. Lucas, Organizers

July 18-20, 2022

Skyline AB

Royal Sonesta Hotel, Edwin H. Land Blvd., Cambridge, MA and zoom.us

Conference Code of Conduct

Monday, July 18
12:00 pm
Lunch
1:00 pm
Matteo Benetton, University of California, Berkeley
Sergio Mayordomo, Banco de España
Daniel Paravisini, London School of Economics

Credit Fire Sales: Captive Lending as Liquidity in Distress
Discussant: Christopher Palmer, Massachusetts Institute of Technology and NBER (slides)
1:50 pm
Rustom Irani, University of Illinois at Urbana-Champaign
Jose-Luis Peydro, Universitat Pompeu Fabra
Marc Gabarro, University of Mannheim
Sjoerd van Bekkum, Erasmus University

Take It to the Limit? The Economic Effects of Leverage Caps
Discussant: Paul S. Willen, Federal Reserve Bank of Boston and NBER (slides)
2:40 pm
Break
2:55 pm
Julian Franks, London Business School
Meng Miao, Renmin University of China
Oren Sussman, University of Oxford

Resolving Financial Distress Where Property Rights Are Not Clearly Defined: The Case Of China
Discussant: Chang-Tai Hsieh, University of Chicago and NBER
3:45 pm
Olivier Darmouni, Columbia University
Lira Mota, Massachusetts Institute of Technology

The Savings of Corporate Giants
Discussant: Toni Whited, University of Michigan and NBER
4:35 pm
Adjourn
Tuesday, July 19
12:00 pm
Lunch
1:00 pm
Wei Jiang, Hong Kong University of Science and Technology
Thomas J. Sargent, New York University and NBER
Neng Wang, Columbia University and NBER
Jinqiang Yang, Shanghai University of Finance and Economics

A p Theory of Government Debt and Taxes (slides)
Discussant: Narayana R. Kocherlakota, University of Rochester and NBER (slides)
1:50 pm
Cecilia R. Caglio, Federal Reserve Board
Matthew Darst, Federal Reserve Board
Ṣebnem Kalemli-Özcan, University of Maryland and NBER

Risk-Taking and Monetary Policy Transmission: Evidence from Loans to SMEs and Large Firms (slides)
Discussant: Thomas Winberry, University of Pennsylvania and NBER (slides)
2:40 pm
Break
2:55 pm
Yvan Lengwiler, University of Basel
Athanasios Orphanides, Massachusetts Institute of Technology

Collateral Framework: Liquidity Premia and Multiple Equilibria (slides)
Discussant: Jeremy C. Stein, Harvard University and NBER
3:45 pm
Magnus Dahlquist, Stockholm School of Economics
Christian Heyerdahl-Larsen, Indiana University
Anna Pavlova, London Business School
Julien Pénasse, University of Luxembourg

International Capital Markets and Wealth Transfers
Discussant: Maxime Sauzet, Boston University (slides)
4:35 pm
Adjourn
Wednesday, July 20
12:00 pm
Lunch
1:00 pm
Andrea Lanteri, Duke University
Adriano A. Rampini, Duke University and NBER

Constrained-Efficient Capital Reallocation
Discussant: Pablo Kurlat, University of Southern California and NBER (slides)
1:50 pm
Yasser Boualam, University of North Carolina
Clement Mazet-Sonilhac, Sciences-Po Paris

The Flow Approach to Credit Markets: Methodology, Measurements, and Macro Perspectives
Discussant: Victoria Ivashina, Harvard University and NBER (slides)
2:45 pm
Break
2:55 pm
Thiago R. T. Ferreira, Federal Reserve Board

Cross-Sectional Financial Conditions, Business Cycles and The Lending Channel (slides)
Discussant: Nicolas Crouzet, Northwestern University (slides)
3:45 pm
Hengjie Ai, University of Wisconsin - Madison
Ravi Bansal, Duke University and NBER
Leyla Jianyu Han, Boston University

Information Acquisition and Pre-announcement Drift (slides)
Discussant: Benjamin M. Hébert, Stanford University and NBER
4:35 pm
Adjourn