Conference Agenda

Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).

 
Session Overview
Location: Room 103
Date: Tuesday, 28/May/2019
1:30pm - 3:15pm1.5: Credit Supply 1
Session Chair: John Sedunov, Villanova University
Room 103 
 

Handling Spillover Effects in Empirical Research: An Application using Credit Supply Shocks

Tobias Berg1, Daniel Streitz2

1Frankfurt School of Finance and Management, Germany; 2Copenhagen Business School

Discussant: Kilian Huber (University of Chicago)

Berg-Handling Spillover Effects in Empirical Research-682.pdf


The Capitalization of Consumer Financing into Durable Goods Prices

Bronson Argyle1, Taylor Nadauld1, Christopher Palmer2, Ryan Pratt1

1Brigham Young University, United States of America; 2MIT Sloan

Discussant: John Mondragon

Argyle-The Capitalization of Consumer Financing into Durable Goods Prices-544.pdf


Why Do Banks Target ROE?

George G Pennacchi1, Joao AC Santos2

1University of Illinois, United States of America; 2Federal Reserve Bank of New York and Nova School of Business and Economics

Discussant: Bernadette Minton (The Ohio State University)

Pennacchi-Why Do Banks Target ROE-224.pdf
 
3:30pm - 5:45pm1.3: Financial Access and Inclusion
Session Chair: Manuel Adelino, Duke University
Room 103 
 

Financial Access Under the Microscope

Sumit Agarwal1, Thomas Kigabo2, Camelia Minoiu3, Andrea Presbitero4, Andre Silva3

1National University of Singapore, Singapore; 2National Bank of Rwanda, Rwanda; 3Federal Reserve Board, USA; 4International Monetary Fund, USA

Discussant: Haelim Anderson (Federal Deposit Insurance Corporation)

Agarwal-Financial Access Under the Microscope-129.pdf


The Local Effects of Foreclosure

Christos Andreas Makridis1, Michael Ohlrogge2

1MIT Sloan, United States of America; 2Stanford University

Discussant: William Benedict McCartney (Purdue University)

Makridis-The Local Effects of Foreclosure-225.pdf


Financial Inclusion, Human Capital, and Wealth Accumulation: Evidence from the Freedman's Savings Bank

Luke Stein1, Constantine Yannelis2

1Arizona State University, United States of America; 2University of Chicago, United States of America

Discussant: Michael Schwert (The Wharton School, University of Pennsylvania)

Stein-Financial Inclusion, Human Capital, and Wealth Accumulation-879.pdf


Disaster Lending: “Fair” Prices, but “Unfair” Access

Taylor Begley1, Umit Gurun2, Amiyatosh Purnanandam3, Daniel Weagley4

1Washington University, St. Louis; 2UT Dallas; 3University of Michigan; 4Georgia Institute of Technology, United States of America

Discussant: Christos Andreas Makridis (MIT Sloan)

Begley-Disaster Lending-766.pdf
 

Date: Wednesday, 29/May/2019
8:30am - 10:15am3.1: Securitization and Liquidity
Session Chair: Christa Bouwman, Texas A&M University
Room 103 
 

Liquidity and Securitization

Yunzhi Hu1, Douglas Diamond2, Raghuram Rajan2

1UNC Chapel Hill, United States of America; 2University of Chicago, Booth School of Business

Discussant: Jason Roderick Donaldson (Washington University)

Hu-Liquidity and Securitization-1016.pdf


Securitization and Screening Incentives: Evidence from Mortgage Processing Time

Dong Beom Choi1, Jung-Eun Kim2

1Federal Reserve Bank of New York, United States of America; 2Federal Reserve Bank of Richmond

Discussant: Elena Loutskina (University of Virginia)

Choi-Securitization and Screening Incentives-320.pdf


Risk Transfer and Foreclosure Law: Evidence from the Securitization Market

Huyen Ngoc Phuong Nguyen1, Danny McGowan2

1University of Nottingham, United Kingdom; 2University of Birmingham, United Kingdom

Discussant: Dasol Kim (Office of Financial Research)

Nguyen-Risk Transfer and Foreclosure Law-229.pdf
 
10:30am - 12:15pm5.6: Credit Supply 2: Bank Credit Supply Shocks
Session Chair: Janis Skrastins, Washington University in St Louis
Room 103 
 

Business Group Spillovers: Evidence from the Golden Quadrilateral in India

Daniel Wolfenzon1, Lakshmi Naaraayanan2

1Columbia University, United States of America; 2Hong Kong University of Science and Technology

Discussant: Indrajit Mitra (University of Michigan)

Wolfenzon-Business Group Spillovers-538.pdf


Credit Supply Shocks and Human Capital: Evidence from a Change in Accounting Norms

Claire Celerier, Andrada Bilan, Luciana Barbosa

University of Toronto, Canada

Discussant: Jean-Marie A. Meier (University of Texas at Dallas)

Celerier-Credit Supply Shocks and Human Capital-424.pdf


Rollover Risk and Bank Lending Behavior

Martina Jasova1, Caterina Mendicino2,4, Dominik Supera3

1Barnard College, Columbia University, United States of America; 2European Central Bank, Germany; 3Wharton School, University of Pennsylvania, USA; 4Bank of Portugal, Portugal

Discussant: Francesco D\'Acunto (Boston College)

Jasova-Rollover Risk and Bank Lending Behavior-625.pdf
 
2:00pm - 4:15pm7.2: Liquidity 1: Liquidity in Financial markets
Session Chair: Loriana Pelizzon, SAFE Goethe University
Room 103 
 

Liquidity provision: Normal times vs Crashes

Ravi Jagannathan1, Loriana Pelizzon2, Ernst Schaumburg3, Mila Getmansky Sherman4, Darya Yuferova5

1Kellogg School of Management, Northwestern University; 2Goethe University Frankfurt - Center of Excellence SAFE and Ca' Foscari University of Venice; 3AQR Capital Management LLC; 4Isenberg School of Management, University of Massachusetts Amherst; 5Norwegian School of Economics, Norway

Discussant: Alexander Chinco (UIUC)

Jagannathan-Liquidity provision-708.pdf


Asset Heterogeneity In Over-The-Counter Markets

Konstantin Milbradt

Northwestern University, United States of America

Discussant: Jeongmin (Mina) Lee (Washington University in St. Louis)

Milbradt-Asset Heterogeneity In Over-The-Counter Markets-774.pdf


The value of ETF liquidity

Marta Khomyn1, Talis Putnins1,2

1University of Technology Sydney, Australia; 2Stockholm School of Economics in Riga

Discussant: Virginia Gianinazzi (Swiss Finance Institute, Universita’ della Svizzera Italiana)

Khomyn-The value of ETF liquidity-645.pdf


Funding Liquidity and Market Liquidity: the Broker-Dealer Perspective

Xing {Alex} Zhou, Marco Macchiavelli

Federal Reserve Board, United States of America

Discussant: Davide Tomio (Darden School of Business - University of Virginia)

Zhou-Funding Liquidity and Market Liquidity-1043.pdf
 

Date: Thursday, 30/May/2019
8:30am - 10:15am6.4: Liquidity 2: Liquidity and and Intermediation
Session Chair: Allen N. Berger, University of South Carolina
Room 103 
 

Liquidity Support in Financial Institutions

Falko Fecht1, Egemen Genc2, Yigitcan Karabulut1,3

1Frankfurt School of Finance and Management, Germany; 2Rotterdam School of Management, Erasmus Univerity; 3CEPR

Discussant: Lamont Black (DePaul University)

Fecht-Liquidity Support in Financial Institutions-732.pdf


The Coordination of Intermediation

Ming Yang1, Yao Zeng2

1Duke University; 2University of Washington

Discussant: Rajdeep Sengupta (Federal Reserve Bank of Kansas City)

Yang-The Coordination of Intermediation-1091.pdf


Eliminating the Tax Shield through Allowance for Corporate Equity: Cross-border Credit Supply Effects

Sonny Biswas, Balint Horvath, Wei Zhai

University of Bristol, United Kingdom

Discussant: John Hackney (University of South Carolina)

Biswas-Eliminating the Tax Shield through Allowance for Corporate Equity-223.pdf
 
10:30am - 12:15pm4.1: Liquidity 3: Liquidity in Markets and Institutions
Session Chair: Richard Rosen, Federal Reserve Bank of Chicago
Room 103 
 

A Theory of Liquidity in Private Equity

Vincent Maurin1, David Robinson2, Per Strömberg1

1Stockholm School of Economics; 2Duke University

Discussant: Naveen Khanna (Michigan State University)

Maurin-A Theory of Liquidity in Private Equity-779.pdf


The Wall Street Stampede: Exit As Governance With Interacting Blockholders

Dragana Cvijanovic1, Amil Dasgupta2, Konstantinos Zachariadis3

1University of North Carolina, Chapel Hill; 2London School of Economics, United Kingdom; 3Queen Mary, University of London

Discussant: Adrian Aycan Corum (Cornell University)

Cvijanovic-The Wall Street Stampede-952.pdf


Who Provides Liquidity, and When?

Sida Li1, Xin Wang2, Mao Ye3

1University of Illinois at Urbana-Champaign; 2Nanyang Technological University; 3University of Illinois at Urbana-Champaign and NBER

Discussant: Jingyuan Mo (NYU Stern)

Li-Who Provides Liquidity, and When-623.pdf
 
2:00pm - 4:15pm2.4: Credit Supply 3: Clogged Arteries in Credit Supply
Session Chair: Amiyatosh Purnanandam, University of Michigan
Room 103 
 

Clogged Intermediation: Were Home Buyers Crowded Out?

Dong Beom Choi1, Hyun-Soo Choi2, Jung-Eun Kim3

1Federal Reserve Bank of New York, United States of America; 2Singapore Management University; 3Federal Reserve Bank of Richmond

Discussant: Indraneel Chakraborty (University of Miami)

Choi-Clogged Intermediation-321.pdf


The Price of Hate: Household Finance and Non-Pecuniary Preferences

Barbara Bliss1, Joey Engelberg2, Mitch Warachka1

1University of San Diego, United States of America; 2University of California San Diego

Discussant: Diego Garcia (University of Colorado Boulder)

Bliss-The Price of Hate-542.pdf


Heterogeneous Sensitivities to Interest Rate Changes: Evidence from Consumer Loans

Jacelly Cespedes

University of Minnesota, United States of America

Discussant: Sugato Bhattacharyya (University of Michigan)

Cespedes-Heterogeneous Sensitivities to Interest Rate Changes-829.pdf


Do Bank Bailouts Affect The Provision Of Trade Credit?

Lars Norden1, Gregory F. Udell2, Teng Wang3

1Getulio Vargas Foundation, Brazil; 2Indiana University, USA; 3Board of Governors of the Federal Reserve System, USA

Discussant: Diane Pierret (University of Lausanne)

Norden-Do Bank Bailouts Affect The Provision Of Trade Credit-221.pdf