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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


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


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


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


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


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


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

Banking without Deposits: Evidence from Shadow Bank Call Reports

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


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


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


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


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

Designing Stress Scenarios

Presented by: Cecilia Parlatore (NYU)
Co-Author(s): Thomas Philippon (NYU)
Sep 4 | 6:00 pm


Sep 5 | 8:30 am to 9:00 am


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


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


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


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


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


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

Banks, Dollar Liquidity, and Exchange Rates

Presented by: Saki Bigio (UCLA)
Sep 5 | 6:00 pm