Full papers appear on line only. Authors’ 10-page summaries will be available at the meeting

Authors, please upload your paper here

NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SUMMER INSTITUTE 2009

Capital Markets and the Economy Workshop

Janice Eberly and Deborah Lucas, Organizers

Royal Sonesta Hotel

40 Edwin H. Land Boulevard

Cambridge, Massachusetts

July 13 - 15, 2009

PRELIMINARY PROGRAM

MONDAY, JULY 13:
12:00 n	Lunch
1:00 pm	DAVID K. BACKUS, New York University and NBER
	BRYAN R. ROUTLEDGE, Carnegie Mellon University
	STANLEY E. ZIN, Carnegie Mellon University and NBER
	The Cyclical Component of US Asset Returns
	Discussant: JOHN HEATON, University of Chicago and NBER
1:50 pm	JULIO ROTEMBERG, Harvard University and NBER
	Liquidity Needs in Economies with Interconnected Financial Obligations
	Discussant: JONATHAN PARKER, Northwestern University and NBER
2:40 pm	Break
2:55 pm	VIRAL ACHARYA, New York University and NBER
	DOUGLAS GALE, New York University
	TANJU YORULMAZER, Federal Reserve Bank of New York
	Rollover Risk and Market Freezes
	Discussant: MARKUS BRUNNERMEIER, Princeton University and NBER
3:45 pm	ZHIGUO HE, Northwestern University
	WEI XIONG, Princeton University and NBER
	Dynamic Bank Runs
	Discussant: ADRIANO RAMPINI, Duke University
4:35 pm	Adjourn
6:00 pm	Group Dinner - Bambara Restaurant, 25 Edwin H. Land Blvd., Cambridge ,MA (across the street from the Sonesta)
TUESDAY, JULY 14:
12:00 n	Lunch
1:00 pm	JOHN BOYD, University of Minnesota
	GIANNI DE NICOLÒ, International Monetary Fund
	ELENA LOUKOIANOVA, International Monetary Fund
	Banking Crises and Crises Dating: Theory and Evidence
	Discussant: JOSEPH HAUBRICH, Federal Reserve Bank of Cleveland
1:50 pm	SEBNEM KALEMLI-OZCAN, University of Houston and NBER
	ELIAS PAPAIOANNOU, Dartmouth College
	JOSÉ LUIS PEYDRÓ, European Central Bank
	Financial Integration and Business Cycle Synchronization
	Discussant: FABRIZIO PERRI, University of Minnesota and NBER
2:40 pm	Break
2:55 pm	HUI CHEN, MIT
	JIANJUN MIAO, Boston University
	NENG WANG, Columbia University
	Entrepreneurial Finance and Non-diversifiable Risk
	Discussant: MARIACRISTINA DE NARDI, Federal Reserve Bank of Chicago and NBER
3:45 pm	HARRY DeANGELO, University of Southern California
	LINDA DeANGELO, University of Southern California
	TONI M. WHITED, University of Wisconsin
	Capital Structure Dynamics and Transitory Debt
	Discussant: ROBERT MCDONALD, Northwestern University
4:35 pm	Adjourn
WEDNESDAY, JULY 15:
12:00 n	Lunch
1:00 pm	ROGER E.A. FARMER, UC, Los Angeles and NBER
	Confidence, Crashes and Animal Spirits
	Discussant: GAUTI EGGERTSSON, Federal Reserve Bank of New York
1:50 pm	NARAYANA R. KOCHERLAKOTA, University of Minnesota and NBER
	Bursting Bubbles: Consequences and Cures
	Discussant: BURTON HOLLIFIELD, Carnegie Mellon University
2:40 pm	Break
2:55 pm	MARCO PAGANO, University of Naples Federico II
	PAOLO VOLPIN, London Business School
	Securitization, Transparency and Liquidity
	Discussant: GARY GORTON, Yale University and NBER
3:45 pm	MANUEL ADELINO, MIT
	KRISTOPHER GERARDI, Federal Reserve Bank of Atlanta
	PAUL S. WILLEN, Federal Reserve Bank of Boston and NBER
	Why Don’t Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures and Securitization
	Discussant: TOMASZ PISKORSKI, Columbia University
4:35 pm	Adjourn
5/8/09