The Fifth New York Fed/ NYU Stern Conference on Financial Intermediation
A conference jointly sponsored by
the Federal Reserve Bank of New York and
the Salomon Center at NYU Stern
November 13, 2009
NYU Stern School of Business
Organized by Hamid Mehran and Stavros Peristiani (New York Fed)
and Alexander Ljungqvist and Philipp Schnabl (NYU)
Location:
New York University
Stern School of Business
Kaufman Management Center
Room 1-70
44-50 West Fourth Street
New York, NY 10012
Program:
8:00 Registration and Continental Breakfast
9:00-12:00 MORNING SESSION
Chair: Alexander Ljungqvist, New York University
9:00 Tobias Adrian, Federal Reserve Bank of New York and Markus Brunnermeier, Princeton University
"CoVaR"
Discussant: Matthew Richardson, New York University
9:50 Mariassunta Giannetti, Stockholm School of Economics and Andrei Simonov, Michigan State University
"On the Real Effects of Bank Bailouts: Micro-Evidence from Japan"
Discussant: Philipp Schnabl, New York University
10:40 Refreshment Break
11:10 John M. Griffin, University of Texas at Austin and Dragon Yongjun Tang, University of Hong Kong
"Did Subjectivity Play a Role in CDO Credit Ratings?"
Discussant: Til Schuermann, Federal Reserve Bank of New York
12:00 Lunch and Keynote Address
12:30-1:30 KEYNOTE ADDRESS
Chair: Matthew Richardson, New York University
Speaker: Randall S. Kroszner, University of Chicago
2:00-5:30 AFTERNOON SESSION
Chair: Hamid Mehran, Federal Reserve Bank of New York
2:00 Adam Ashcraft, Paul Goldsmith-Pinkham, and James Vickery, Federal Reserve Bank of New York
"MBS ratings and the mortgage credit boom"
Discussant: Efraim Benmelech, Harvard University
2:50 Rocco Huang, Federal Reserve Bank of Philadelphia and Wharton Financial Institutions Center
"How Committed Are Bank Lines of Credit? Evidence from the Subprime Mortgage Crisis"
Discussant: Paolo Fulghieri, University of North Carolina at Chapel Hill
3:40 Refreshment Break
4:10 Anna Kovner, Federal Reserve Bank of New York
"Do Investment Banks Matter? The Impact of the Near Loss of an Equity Underwriter"
Discussant: Daniel Paravisini, Columbia University
5:00 Cocktail Reception
Program Committee Members
Current Members:
Philip Bond, University of Pennsylvania
Andrew Hertzberg, Columbia University
Daniel Paravisini, Columbia University
Manju Puri, Duke University
João Santos, Federal Reserve Bank of New York
Philip Strahan, Boston College
Amir Sufi, Chicago Graduate School of Business
Greg Udell, Indiana University
2008 Program Committee:
Mark Carey, Board of Governors
Victoria Ivashina, Harvard University
Ross Levine, Brown University
Massimo Massa, INSEAD
Daniel Paravisini, Columbia University
João Santos, Federal Reserve Bank of New York
Philip Strahan, Boston College
Amir Sufi, University of Chicago
2007 Program Committee:
Adam Ashcraft, Federal Reserve Bank of New York
Sreedhar Bharath, University of Michigan
Philip Bond, University of Pennsylvania
Steven Drucker, Columbia University
Michael R. Roberts, University of Pennsylvania
Amir Sufi, University of Chicago
Ingo Walter, New York University
2006 Program Committee:
Kenneth Ayotte, Columbia University
Sandeep Dahiya, Georgetown University
Enrichetta Ravina, New York University
Philip Strahan, Boston College
James Vickery, Federal Reserve Bank of New York