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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SI 2015 Macro, Money and Financial Frictions

Andrew Metrick, David S. Scharfstein, Arvind Krishnamurthy, Guillarmo Ordonez, and
Markus K. Brunnermeier, Organizers

July 10, 2015

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

PROGRAM

Friday, July 10
8:00 am	Coffee and pastries
8:30 am	Douglas W. Diamond, University of Chicago and NBER Anil Kashyap, University of Chicago and NBER Liquidity Requirements, Liquidity Choice and Financial Stability Discussant: Gary B. Gorton, Yale University and NBER
9:30 am	Sebastian Di Tella, Stanford University Optimal Financial Regulation and the Concentration of Aggregate Risk Discussant: Peter Kondor, Central European University
10:30 am	Break
11:00 am	Jeremy C. Stein, Harvard University and NBER Adi Sunderam, Harvard University and NBER Gradualism in Monetary Policy: A Time-Consistency Problem? Discussant: Michael Woodford, Columbia University and NBER
12:00 noon	Lunch
1:00 pm	José-Luis Peydró, Universitat Pompeu Fabra Bernardo C. Morais, Federal Reserve Board Claudia Ruiz Ortega, World Bank The International Bank Lending Channel of Monetary Policy Rates and Quantitative Easing: Credit Supply, Reach-for-Yield, and Real Effects Discussant: Gabriel Chodorow-Reich, Harvard University and NBER
2:00 pm	Break
2:30 pm	Simon Gilchrist, Boston University and NBER Raphael Schoenle, Brandeis University Jae Sim, Federal Reserve Board Egon Zakrašjek, Federal Reserve Board Financial Heterogeneity and Monetary Union Discussant: Ricardo Reis, Columbia University and NBER
3:30 pm	Valentin Haddad, Princeton University and NBER David Sraer, University of California at Berkeley and NBER The Banking View of Bond Risk Premia Discussant: Monika Piazzesi, Stanford University and NBER
4:30 pm	Adjourn