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Authors, please upload your paper here. |
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NATIONAL BUREAU OF ECONOMIC
RESEARCH, INC. |
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SUMMER INSTITUTE 2009 |
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Project on Market Institutions
and Financial Market Risk |
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Mark Carey, Anil Kashyap, Raghuram Rajan and René Stulz,
Organizers |
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Royal
Sonesta Hotel |
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Ballroom
A |
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PROGRAM |
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TUESDAY JULY 7: |
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12:00 n |
Lunch |
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1:15 pm |
WEI
JIANG, Columbia University |
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ASHLYN
NELSON, |
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EDWARD
VYTLACIL, |
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Liars loan?
--Effects of Loan Origination Channel and Loan Sale on Delinquency |
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TOMASZ PISKORSKI,
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AMIT SERU
and VIKRANT VIG, |
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Securitization and Distressed Loan
Renegotiation: Evidence from the Subprime Mortgage Crisis |
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Discussants: DAVID SCHARFSTEIN, |
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2:45 pm |
Break |
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3:00 pm |
VASSO
IOANNIDOU and STEVEN ONGENA, |
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JOSÉ LUIS
PEYDRÓ, European Central Bank |
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Monetary
Policy, Risk-Taking and Pricing: Evidence from a Quasi-Natural Experiment |
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Discussants: HYUN
SHIN, |
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3:50 pm |
SUMIT
AGARWAL and GENE AMROMIN, Federal Reserve Bank of |
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ITZHAK
BEN-DAVID, |
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SOUPHALA
CHOMSISENGPHET, Office of the Comptroller of the Currency |
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DOUG
EVANOFF, Federal Reserve Bank of |
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Discussants: LUIGI ZINGALES, |
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4:40 pm |
Break |
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5:00 pm |
MARIASSUNTA
GIANNETTI, |
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ANDREI
SIMONOV, Michigan State University |
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On the Real Effects of Bank Bailouts: Micro
Evidence from Japan |
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Discussants:
ERIC ROSENGREN, Federal Reserve Bank of |
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5:50 pm |
Adjourn |
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WEDNESDAY JULY 8: |
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8:00 am |
Coffee
and Pastries |
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8:30 am |
Proposal session 1:
Closed. Proposal authors and
organizers only. |
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10:00
am |
Proposal discussion session 2: |
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Franklin Allen, |
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Ana Babus, |
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Financial Connections
and Systemic Risk. |
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Mila Getmansky, |
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Monica Billio, |
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Andrew Lo, MIT and NBER |
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Loriana Pelizzon, |
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Funding Liquidity,
Crises, and Systemic Risk. |
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Martin Oehmke, |
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The Maturity Rat Race. |
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Alexander Bleck and Pingyang Gao, |
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Where does the
Information in Mark-to-Market Accounting Come From? |
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Antje Berndt, |
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The Role of Mortgage Brokers in
the Subprime Crisis. |
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11:20 am |
Break |
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11:40 am |
Proposal discussion session 3: |
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Anand M. Goel, |
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Fenghua Song, |
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Anjan V. Thakor, |
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Kenneth Froot, |
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Evidence on the Underpricing of
Illiquid Debt Securities. |
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Massimo |
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Ayako Yasuda, |
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The Role of Institutional
Investors in Propagating the Financial Crisis. |
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Andrew Ellul, and Vijay
Yerramili, |
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Greater Risk, Weaker Risk
Management: Evidence from bank holding Compaines. |
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Edie Hotchkiss, |
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David C. Smith, |
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Per Stromberg, Stockholm Institute for Financial Research and NBER |
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Private Equity Sponsors and the
Resolution of Financial Distress. |
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1:00 pm |
Lunch |
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1:50 pm |
DOUGLAS
DIAMOND and RAGHURAM RAJAN, |
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Discussant: FRANKLIN ALLEN, |
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ANDREI
SHLEIFER, |
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ROBERT
VISHNY, |
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Discussant: GARY GORTON, |
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3:40 pm |
Break |
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4:00 pm |
ATIF MIAN
and AMIR SUFI, |
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House
Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis
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Discussant:
ANDREAS LEHNERT, Federal Reserve Board |
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ADAM ASHCRAFT,
PAUL GOLDSMITH-PINKHAM, and JAMES VICKERY, Federal Reserve Bank of |
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Discussant:
JOSH COVAL, |
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5:50 pm |
Adjourn |
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6:00 pm |
Clambake, Harvard Faculty Club, |
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THURSDAY JULY 9: |
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8:30 am |
Coffee
and Pastries |
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9:00 am |
DARRELL
DUFFIE, |
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HAOIANG ZHU,
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Does
a Central Clearing Counterparty Reduce Counterparty Risk? |
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Discussant: CRAIG PIRRONG, |
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10:00 am |
Break |
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10:15 am |
VIRAL
ACHARYA, |
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OUARDA
MERROUCHE, Bank of |
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Precautionary Hoarding of Liquidity and
Inter-Bank Markets: Evidence from the Sub-prime Crisis |
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Discussant: ARVIND KRISHNAMURTHY, Northwestern
University and NBER |
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11:10 am |
RAVI
BANSAL, |
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WILBUR
JOHN COLEMAN, |
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CHRISTIAN
LUNDBLAD, |
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Discussant:
HANNO LUSTIG, UC, |
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12:00 n |
Lunch and
Adjourn |
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5/28/09 |
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