Authors, please upload your paper here.

 

 

NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

 

SUMMER INSTITUTE 2011

 

Finance and Macroeconomics Workshop

 

Andrew Metrick, Jeremy C. Stein and David S. Scharfstein, Organizers

 

July 15, 2011

 

Royal Sonesta Hotel

Parkview

40 Edwin H. Land Boulevard

Cambridge, Massachusetts

 

PROGRAM

               

Friday, July 15:

  

JOINT MEETING WITH THE MONETARY ECONOMICS GROUP

 

 8:00 am

Coffee and Pastries

 

 8:30 am

Nicola Gennaioli, CREI

Andrei Shleifer, Harvard University and NBER

Robert W. Vishny, University of Chicago and NBER

A Model of Shadow Banking

 

Discussant: Guillermo Ordonez, Yale University

 

 9:20 am

Javier Bianchi, University of Maryland

Enrique G. Mendoza, University of Maryland and NBER

Overborrowing, Financial Crises, and Macro-prudential Policy

 

Discussant: Martin Oehmke, Columbia University

 

 10:10 am

Break

 

 10:30 am

Michael Woodford, Columbia University and NBER

Monetary Policy and Financial Stability

 

Discussant: Emmanuel Farhi, Harvard University and NBER

 

 11:20 am

Atif Mian, University of California at Berkeley and NBER

Amir Sufi, University of Chicago and NBER

Francesco Trebbi, University of British Columbia and NBER

Foreclosures, House Prices and the Real Economy

 

 

Discussant: Parag Pathak, Massachusetts Institute of Technology and NBER

 

 12:10 pm

Lunch

 1:10 pm

PANEL DISCUSSION: Macro-Prudential Regulation: The State of Play

MODERATOR: Anil Kashyap, University of Chicago and NBER

 

Stephen Cecchetti, Bank for International Settlements and NBER

 

Paul Tucker, Bank of England

Nellie Liang, Federal Reserve Board

 

 2:30 pm

Break

 

 2:50 pm

Arvind Krishnamurthy, Northwestern University and NBER

Annette Vissing-Jorgensen, Northwestern University and NBER

The Effects of Quantitative Easing on Interest Rates

 

Discussant: Robin Greenwood, Harvard University

 

 3:40 pm

Viral V. Acharya, New York University and NBER

Itamar Drechsler, New York University

Philipp Schnabl, New York University

A Pyrrhic Victory? -- Bank Bailouts and Sovereign Credit Risk

 

Discussant: Stijn Claessens, International Monetary Fund

 

 4:30 pm

Adjourn