The Seventh New York Fed/NYU Stern Conference on Financial Intermediation
A conference jointly sponsored by
the Federal Reserve Bank of New York,
the Salomon Center at NYU Stern,
and the Review of Financial Studies
May 4-5, 2012
NYU Stern School of Business
Location:
New York University
Stern School of Business
Kaufman Management Center
Room 1-70
44-50 West Fourth Street
New York, NY 10012
Program
Friday, May 4
8:00 Registration and Continental Breakfast
9:00 Welcome Remarks
Ingo Walter, Vice Dean of Faculty, NYU Stern
MORNING SESSION
Chair: Anthony Saunders, New York University
9:05 "How did the crisis in international funding markets affect bank lending? Balance sheet evidence from the UK"
Shekhar Aiyar, International Monetary Fund
Discussant: Nicola Cetorelli, Federal Reserve Bank of New York
10:05 "Government intervention and information aggregation by prices"
Philip Bond, University of Minnesota
Itay Goldstein, University of Pennsylvania
Discussant: Viral Acharya, New York University
11:05 Coffee Break
11:30 "Is historical cost accounting a panacea? Market stress, incentive distortions, and gains trading"
Andrew Ellul, Indiana University
Chtobhak Jotikasthira, University of North Carolina
Christian Lundblad, University of North Carolina
Yihui Wang, Chinese University of Hong Kong
Discussant: Mark Carey, Federal Reserve Board
12:30 Lunch
Introduction: Matthew Richardson, Director, Salomon Center
Keynote Speaker: Susan Schmidt Bies
Director, Bank of America
Former member of the Board of Governors of the Federal Reserve System
AFTERNOON SESSION
Chair: Alexander Ljungqvist, New York University
2:15 "Financial intermediary capital"
Adriano Rampini, Duke University
S. Viswanathan, Duke University
Discussant: Martin Oehmke, Columbia University
3:15 Coffee Break
3:30 "Financial integration, housing, and economic volatility"
Elena Loutskina, University of Virginia
Philip Strahan, Boston College
Discussant: Victoria Ivashina, Harvard University
4:30 "What fuels the boom drives the bust: Regulation and the mortgage crisis"
Jihad Dagher, International Monetary Fund
Ning Fu, Harvard University
Discussant: Elena Loutskina, University of Virginia
5:30 Reception
Saturday, May 5
8:00 Continental Breakfast
MORNING SESSION
Chair: Hamid Mehran, Federal Reserve Bank of New York
9:00 "Group lending or individual lending? Evidence from a randomized field experiment in Mongolia"
Orazio Attanasio, University College London
Britat Augsburg, Institute for Fiscal Studies
Ralph de Haas, EBRD
Emla Fitzsimons, Institute for Fiscal Studies
Heike Harmgart, EBRD
Discussant: Gabriel Natividad, New York University
10:00 "Understanding the incentives of commissions motivated agents: Theory and evidence from the Indian life insurance market"
Santosh Anagol, University of Pennsylvania
Shawn Cole, Harvard University
Shayak Sarkar, Harvard University
Discussant: Greg Nini, University of Pennsylvania
11:00 Coffee Break
11:15 "Interbank network and bank bailouts: Insurance mechanism for non-insured creditors"
Tim Eisert, Goethe University Frankfurt
Christian Eufinger, Goethe University Frankfurt
Discussant: David S. Scharfstein, Harvard University
12:15 Lunch and Adjourn
Conference Organizers
Alexander Ljungqvist, New York University
Hamid Mehran, Federal Reserve Bank of New York
Stavros Peristiani, Federal Reserve Bank of New York
Philipp Schnabl, New York University
2012 Program Committee
Viral Acharya, New York University
Nicola Cetorelli, Federal Reserve Bank of New York
Mark Flannery, University of Florida
Itay Goldstein, University of Pennsylvania
Andrew Hertzberg, Columbia University
Victoria Ivashina, Harvard University
Jose Liberti, DePaul University
Atif Mian, UC Berkeley
Alan Morrison, University of Oxford
Martin Oehmke, Columbia University
Daniel Paravisini, Columbia University
Mitchell Petersen, Northwestern University
Manju Puri, Duke University
Adriano Rampini, Duke University
João Santos, Federal Reserve Bank of New York
David Scharfstein, Harvard Business School
Greg Udell, Indiana University
William J. Wilhelm, University of Virginia
Tanju Yorulmazer, Federal Reserve Bank of New York