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Session 11: Financial Regulation

September 3-5, 2019 | Landau Economics Bldg, 579 Serra Mall, Rm 134, Stanford

The idea in this session will be to discuss the latest advances in theoretical and empirical issues related to financial regulation, defined broadly. Topics will include, but will not be limited to, connections of regulation for intermediaries, households and policymakers in the U.S. and outside the U.S. This is the third in the sequence of annual SITE conferences on this topic that we have held since 2017.

Organizers: Gregor Matvos (Northwestern University, Kellogg School of Management) and Amit Seru (Stanford Graduate School of Business) 

In this Session

Sep 3 | 10:45 am to 11:15 am

Check-In

Sep 3 | 11:00 am

Session 1: Household Finance

Sep 3 | 11:15 am to 12:00 pm

Testing the Effectiveness of Consumer Financial Disclosure: Experimental Evidence from Savings Accounts

Presented by: Christopher Palmer (MIT)
Co-Author(s): Paul Adams (Autoriteit Financiële Markten), Stefan Hunt (Competition and Markets Authority) and Redis Zaliauskas (Lloyds Banking Group)
Sep 3 | 12:00 pm to 12:15 pm

Break

Sep 3 | 12:15 pm to 1:00 pm

Reference Points in the Housing Market

Presented by: Tarun Ramadorai (Imperial College London)
Co-Author(s): Steffen Andersen (Copenhagen Business School), Cristian Badarinza (National University of Singapore), Lu Liu (Imperial College Business School) and Julie Marx (Copenhagen Business School)
Sep 3 | 1:00 pm to 2:30 pm

Lunch

Sep 3 | 2:30 pm to 3:15 pm

Why Do Borrowers Default On Mortgages? A New Test Using High-Frequency Data?

Presented by: Peter Ganong (University of Chicago)
Co-Author(s): Pascal Noel (University of Chicago)
Sep 3 | 3:15 pm to 3:30 pm

Break

Sep 3 | 3:30 pm to 4:15 pm

Macroeconomic Effects of Debt Relief: Consumer Bankruptcy Protections in the Great Recession

Presented by: Adrien Auclert (Stanford)
Co-Author(s): Will Dobbie (Princeton) and Paul Goldsmith-Pinkham (Yale)
Sep 4 | 8:30 am to 9:00 am

Breakfast

Sep 4 | 8:45 am to 12:00 pm

Session 2: Banking and Shadow Banking

Sep 4 | 9:00 am to 9:45 am

Market Power and Small Business Lending

Presented by: Natalie Bachas (Princeton)
Co-Author(s): Ernest Liu (Princeton) and Constantine Yannelis (University of Chicago)
Sep 4 | 9:45 am to 10:00 am

Break

Sep 4 | 10:00 am to 10:45 am

Banking without Deposits: Evidence from Shadow Bank Call Reports

Presented by: Erica Jiang (Texas Austin)
Co-Author(s): Gregor Matvos (Northwestern), Tomasz Piskorski (Columbia) and Amit Seru (Stanford)
Sep 4 | 10:45 am to 11:15 am

Break

Sep 4 | 11:15 am to 12:00 pm

The Value of Intermediation in Stock Market

Presented by: Mark Egan (Harvard)
Co-Author(s): Marco Di Maggio (Harvard) and Francesco Franzoni (USI Lugano)
Sep 4 | 12:00 pm to 1:30 pm

Lunch

Sep 4 | 1:15 pm to 4:15 pm

Session 3: Regulation and Supervision

Sep 4 | 1:30 pm to 2:15 pm

Fiduciary Duty and the Market for Financial Advice

Presented by: Gaston Illanes (Northwestern)
Co-Author(s): Vivek Bhattacharya (Northwestern) and Manisha Padi (University of Chicago)
Sep 4 | 2:15 pm to 2:30 pm

Break

Sep 4 | 2:30 pm to 3:15 pm

Supranational Regulators

Presented by: Vikrant Vig (London Business School)
Co-Author(s): Rainer Hasselman (Goethe University) and Shikhar Singla (London Business School)
Sep 4 | 3:15 pm to 3:30 pm

Break

Sep 4 | 3:30 pm to 4:15 pm

Designing Stress Scenarios

Presented by: Cecilia Parlatore (NYU)
Co-Author(s): Thomas Philippon (NYU)
Sep 5 | 8:30 am to 9:00 am

Breakfast

Sep 5 | 8:45 am to 12:00 pm

Session 4: Intermediation, Credit Supply and Exchange Rates

Sep 5 | 9:00 am to 9:45 am

Exchange Rates and Asset Prices in a Global Demand System

Presented by: Moto Yogo (Princeton)
Co-Author(s): Ralph Koijen (Chicago Booth)
Sep 5 | 9:45 am to 10:00 am

Break

Sep 5 | 10:00 am to 10:45 am

A Quantity-Driven Theory of Term Premiums and Exchange Rates

Presented by: Adi Sunderam (Harvard)
Co-Author(s): Robin Greenwood (Harvard), Sam Hanson (Harvard),and Jeremy Stein (Harvard)
Sep 5 | 10:45 am to 11:15 am

Break

Sep 5 | 11:15 am to 12:00 pm

Low Interest Rates, Market Power, and Productivity Growth

Presented by: Amir Sufi (University of Chicago)
Co-Author(s): Atif Mian (Princeton) and Ernest Liu (Princeton)
Sep 5 | 12:00 pm to 1:30 pm

Lunch

Sep 5 | 1:35 pm to 2:30 pm

Redrawing the Map of Global Capital Flows: The Role of Cross-Border Financing and Tax Havens

Presented by: Matteo Maggiori (Harvard)
Co-Author(s): Antonio Coppola (Harvard), Brent Neiman (University of Chicago), and Jesse Schreger (Columbia)
Sep 5 | 2:30 pm to 3:00 pm

Break

Sep 5 | 3:00 pm to 3:55 pm

The International Medium of Exchange

Presented by: Rosen Valchev (Boston College)
Co-Author(s): Ryan Chahrour (Boston College)
Sep 5 | 3:55 pm to 4:25 pm

Break

Sep 5 | 4:25 pm to 5:20 pm

Banks, Dollar Liquidity, and Exchange RatesSaki BigioSaki Bigio

Presented by: Saki Bigio (UCLA)