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Session 1: Banks and Financial Frictions

July 1-2, 2019 | Landau Economics Bldg, 579 Serra Mall, Rm 134, Stanford

This session will feature post-crisis research on the central role of banks in the economy, their incentives for risk-taking, developments in fintech, the role of banks for financial stability and payments provision, and the importance of financial frictions for households and firms more generally.

Organizers: Juliane Begenau (Stanford Graduate School of Business), Lars Peter Hansen (University of Chicago) and Monika Piazzesi (Stanford)
Poster Session Co-Sponsor: Macro Finance Research Program of the Becker Friedman Institute

In this Session

Jul 1 | 8:30 am to 9:00 am

Check-in | Breakfast

Jul 1 | 9:00 am to 10:00 am

Credit Cycles with Market Based Household Leverage

Presented by: Tim Landvoigt (The Wharton School, University of Pennsylvania)
Co-Author(s): William Diamond (The Wharton School, University of Pennsylvania)
Jul 1 | 10:00 am to 10:15 am

Break

Jul 1 | 10:15 am to 11:15 am

Agency Conflicts and Public Pension Fund Investments into Alternatives

Presented by: Juliane Begenau (Stanford Graduate School of Business)
Jul 1 | 11:15 am to 11:30 am

Break

Jul 1 | 11:30 am to 12:30 pm

Bank Market Power and Monetary Policy Transmission

Presented by: Toni Whited (University of Michigan Ross School of Business)
Jul 1 | 12:30 pm to 1:30 pm

Lunch and PhD Student Posters

Presented by: Poster session is co-sponsored by Macro Finance Research Program (https://bfi.uchicago.edu/programs/macro-finance-research-program/)
Jul 1 | 1:30 pm to 2:30 pm

Do Credit Conditions Move House Prices?

Presented by: Dan Greenwald (MIT Sloan School of Management) and Adam Guren (Boston University)
Jul 1 | 2:30 pm to 2:45 pm

Break

Jul 1 | 2:45 pm to 3:45 pm

Money and Banking in a New Keynesian Model

Presented by: Monika Piazzesi (Stanford University)
Co-Author(s): Ciaran Rogers (Stanford University) and Martin Schneider (Stanford University)
Jul 1 | 3:45 pm to 4:00 pm

Break

Jul 1 | 4:00 pm to 5:00 pm

Leverage Regulation and Market Structure: A Structural Model of the UK Mortgage Market

Presented by: Matteo Benetton (UC Berkeley Haas School of Business)
Jul 1 | 5:30 pm to 6:00 pm

Drinks

Jul 1 | 6:00 pm

BBQ

Jul 2 | 8:30 am to 9:00 am

Breakfast

Jul 2 | 9:00 am to 10:00 am

Financial Heterogeneity and the Investment Channel of Monetary Policy

Presented by: Thomas Winberry (University of Chicago Booth School of Business)
Jul 2 | 10:00 am to 10:15 am

Break

Jul 2 | 10:15 am to 11:15 am

International Spillovers and Local Credit Cycles

Presented by: Sebnem Kalemli-Ozcan (University of Maryland)
Jul 2 | 11:15 am to 11:30 am

Break

Jul 2 | 11:30 am to 12:30 pm

Pricing Uncertainty Induced by Climate Change

Presented by: Lars Peter Hansen (University of Chicago)
Co-Author(s): William A. Brock (University of Wisconsin–Madison) and Michael Barnett (University of Chicago)
Jul 2 | 12:30 pm to 1:30 pm

Lunch

Jul 2 | 1:30 pm to 2:30 pm

On the Scale of Financial Intermediaries

Presented by: Nina Boyarchenko (Federal Reserve Bank of New York)
Jul 2 | 2:30 pm to 2:45 pm

Break

Jul 2 | 2:45 pm to 3:45 pm

Who Bears the Welfare Costs of Monopoly? The case of the Credit Card Industry

Presented by: Kyle Herkenhoff (University of Minnesota, Twin-Cities)
Co-Author(s): Gajendran Raveendranathan (McMaster University)
Jul 2 | 3:45 pm to 4:00 pm

Break

Jul 2 | 4:00 pm to 5:00 pm

Aggregate Information Dynamics

Presented by: Gary Gorton (Yale School of Management)
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