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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SI 2015 Capital Markets and the Economy

Deborah J. Lucas, Amir Yaron, and Janice C. Eberly, Organizers

July 13-15, 2015

Longfellow Room
Royal Sonesta Hotel
40 Edwin H. Land Blvd.
Cambridge, MA

PROGRAM

 

Monday, July 13

12:00 noon

Lunch

1:00 pm

Juliane Begenau, Harvard University
Juliana Salomao, University of Minnesota
Firm Financing over the Business Cycle

Discussant: Toni Whited, University of Michigan and NBER

1:50 pm

Giacomo Rodano, Banca d'Italia
Nicolas Serrano-Velarde, Bocconi University
Emanuele Tarantino, University of Mannheim
Lending Standards Over the Credit Cycle

Discussant: Egon Zakrašjek, Federal Reserve Board

2:40 pm

Break

2:55 pm

Gita Gopinath, Harvard University and NBER
Sebnem Kalemli-Ozcan, University of Maryland and NBER
Loukas Karabarbounis, University of Chicago and NBER
Carolina Villegas-Sanchez, ESADE-Universitat Ramon Llull
Capital Allocation and Productivity in South Europe

Discussant: John C. Haltiwanger, University of Maryland and NBER

3:45 pm

Frederico Belo, University of Minnesota and NBER
Xiaoji Lin, The Ohio State University
Fan Yang, The University of Hong Kong
External Equity Financing Shocks, Financial Flows, and Asset Prices

Discussant: Vincenzo Quadrini, University of Southern California

4:35 pm

Adjourn

Tuesday, July 14

12:00 noon

Lunch

1:00 pm

Nicolae B. Garleanu, University of California at Berkeley and NBER
Stavros Panageas, University of Chicago and NBER
Jianfeng Yu, University of Minnesota
Drifting Apart: The Pricing of Assets when the Benefits of Growth Are not Shared Equally

Discussant: Lars Lochstoer, Columbia University

1:55 pm

Alexandre Corhay, University of British Columbia
Howard Kung, London Business School
Lukas D. Schmid, University of St. Gallen
Competition, Markups and Predictable Returns

Discussant: Diego A. Comin, Dartmouth College and NBER

2:40 pm

Break

2:55 pm

Julian Kozlowski, New York University
Laura Veldkamp, New York University and NBER
Venky Venkateswaran, New York University and NBER
The Tail that Wags the Economy: Belief-Driven Business Cycles and Persistent Stagnation

Discussant: Harald Uhlig, University of Chicago and NBER

3:45 pm

Ariel Zetlin-Jones, Carnegie Mellon University
Ali Shourideh, University of Pennsylvania
External Financing and the Role of Financial Frictions over the Business Cycle: Measurement and Theory

Discussant: Simon Gilchrist, Boston University and NBER

4:35 pm

Adjourn

Wednesday, July 15

12:00 noon

Lunch

1:00 pm

Manuel Adelino, Duke University
Antoinette Schoar, Massachusetts Institute of Technology and NBER
Felipe Severino, Dartmouth College
Loan Originations and Defaults in the Mortgage Crisis: The Role of the Middle Class

Discussant: Gene Amromin, Federal Reserve Bank of Chicago

1:55 pm

Anya V. Kleymenova, University of Chicago Booth School of Business
Andrew K. Rose, University of California at Berkeley and NBER
Tomasz Wieladek, London Business School
Does Government Intervention Affect Banking Globalization?

Discussant: Stijn Claessens, Federal Reserve Board

2:40 pm

Break

2:55 pm

Adriano A. Rampini, Duke University and NBER
Vish Viswanathan, Duke University and NBER
Household Risk Management

Discussant: Mariacristina De Nardi, Federal Reserve Bank of Chicago and NBER

3:45 pm

Scott Frame, University of North Carolina Charlotte
Kristopher Gerardi, Federal Reserve Bank of Atlanta
Paul S. Willen, Federal Reserve Bank of Boston and NBER
The Failure of Supervisory Stress Testing: Fannie Mae, Freddie Mac, and OFHEO

Discussant: Viral V. Acharya, New York University and NBER

4:35 pm

Adjourn