SI 2023 Capital Markets and the Economy

Janice C. Eberly and Deborah J. Lucas, Organizers

July 10-12, 2023

University Room BC

Format: 20 minutes for authors, 15 minutes for discussants, 15 minutes for Q&A

Conference Code of Conduct

Monday, July 10
12:00 pm
Lunch
1:00 pm
Viral V. Acharya, New York University and NBER
Timothy Johnson, University of Illinois at Urbana-Champaign
Suresh Sundaresan, Columbia University
Tuomas Tomunen, Boston College

Is Physical Climate Risk Priced? Evidence from Regional Variation in Exposure to Heat Stress
Discussant: Marcin Kacperczyk, Imperial College London
1:50 pm
Franklin Allen, Imperial College London
Adelina Barbalau, University of Alberta
Federica Zeni, World Bank

Reducing Carbon using Regulatory and Financial Market Tools
Discussant: Derek Lemoine, University of Arizona and NBER
2:40 pm
Break
2:55 pm
Brent Glover, Carnegie Mellon University
Oliver J. Levine, University of Wisconsin

Corporate Tax Avoidance, Firm Size, and Capital Misallocation
Discussant: Michael Faulkender, University of Maryland
3:45 pm
Hui Chen, Massachusetts Institute of Technology and NBER
Ali Kakhbod, University of California, Berkeley
Maziar Kazemi, Arizona State University
Hao Xing, Boston University

Process Intangibles and Agency Conflicts
Discussant: Mindy Z. Xiaolan, University of Texas at Austin
4:35 pm
Adjourn
Tuesday, July 11
12:00 pm
Lunch
1:00 pm
Nathan Foley-Fisher, Federal Reserve Board
Gary B. Gorton, Yale University and NBER
Stéphane Verani, Federal Reserve Board

The Informational Centrality of Banks
Discussant: Skander Van Den Heuvel, Federal Reserve Board
1:50 pm
Miguel Faria-e-Castro, Federal Reserve Bank of St. Louis
Pascal Paul, Federal Reserve Bank of San Francisco
Juan M. Sanchez, Federal Reserve Bank of St. Louis

Evergreening
Discussant: Camelia Minoiu, Federal Reserve Bank of Atlanta
2:40 pm
Break
2:55 pm
Olivier Darmouni, Columbia University
Andrew Sutherland, Massachusetts Institute of Technology

Investment When New Capital is Hard to Find
Discussant: Adriano A. Rampini, Duke University and NBER
3:45 pm
Adjourn
Wednesday, July 12
12:00 pm
Lunch
1:00 pm
Maarten Meeuwis, Washington University in St. Louis
Dimitris Papanikolaou, Northwestern University and NBER
Jonathan L. Rothbaum, U.S. Census Bureau
Lawrence Schmidt, Massachusetts Institute of Technology

Discount Rates, Labor Market Dynamics, and Income Risk
Discussant: John Y. Campbell, Harvard University and NBER
1:50 pm
Thiago R. T. Ferreira, Federal Reserve Board
Daniel A. Ostry, Bank of England
John H. Rogers, Fudan University

Firm Financial Conditions and the Transmission of Monetary Policy (slides)
Discussant: Thomas Winberry, University of Pennsylvania and NBER
2:40 pm
Break
2:55 pm
Ali Kakhbod, University of California, Berkeley
Dmitry Livdan, University of California, Berkeley
Anders M. Reppen, Boston University
Tarik Umar, Rice University

Preparing for the Storm: Firm Policies and Time-varying Recession Risk
Discussant: Toni Whited, University of Michigan and NBER
3:45 pm
Nuno Coimbra, Banque de France
Francisco Gomes, London Business School
Alexander Michaelides, Imperial College London
Jialu Shen, University of Missouri

Asset Pricing and Risk Sharing Implications of Alternative Pension Plan Systems
Discussant: Stephen P. Zeldes, Columbia University and NBER
4:35 pm
Adjourn