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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC. 

SI 2016 Capital Markets and the Economy 

Deborah J. Lucas, Amir Yaron, and Janice C. Eberly, Organizers 

July 18-20, 2016 

Royal Sonesta Hotel
University BC
40 Edwin Land Boulevard
Cambridge, MA

PROGRAM

Monday, July 18
12:00 n	Lunch
1:00 pm	Steven J. Davis, University of Chicago and NBER John C. Haltiwanger, University of Maryland and NBER Dynamism Diminished: The Role of Housing Markets and Credit Conditions Discussant: Simon Gilchrist, Boston University and NBER
1:50 pm	Alessandro Barattieri, ESG UQAM and Collegio Carlo Alberto Laura Moretti, Central Bank of Ireland Vincenzo Quadrini, University of Southern California Banks Interconnectivity and Leverage Discussant: Juliane Begenau, Harvard University and NBER
2:40 pm	Break
2:55 pm	Jochen Mankart, Deutsche Bundesbank Alexander Michaelides, Imperial College Business School Spyros Pagratis, Athens University of Economics and Business Bank Capital Buffers in a Dynamic Model Discussant: Skander Van Den Heuvel, Federal Reserve Board
3:45 pm	Francesco D’Acunto, University of Maryland Ryan Liu, University of California at Berkeley Carolin Pflueger, University of British Columbia Michael Weber, University of Chicago and NBER Flexible Prices and Leverage Discussant: Nicolas Vincent, HEC Montreal
4:35 pm	Adjourn
Tuesday, July 19
12:00 n	Lunch
1:00 pm	Barney Hartman-Glaser, University of California at Los Angeles Hanno Lustig, Stanford University and NBER Mindy X. Zhang, University of Texas at Austin National Income Accounting when Firms Insure Workers Discussant: Michael W. Elsby, University of Edinburgh
1:50 pm	Anton Babkin, University of Wisconsin Brent Glover, Carnegie Mellon University Oliver J. Levine, University of Wisconsin Are Corporate Inversions Good for Shareholders? Discussant: Robert L. McDonald, Northwestern University and NBER
2:40 pm	Break
2:55 pm	Carlo Altavilla, European Central Bank Marco Pagano, University of Naples Federico II Saverio Simonelli, University of Naples Federico II Bank Exposures and Sovereign Stress Transmission Discussant: Itamar Drechsler, New York University and NBER
3:45 pm	Marc Arnold, University of St. Gallen Dirk Hackbarth, Boston University Tatjana-Xenia C.. Puhan, University of Zurich Financing Asset Sales and Business Cycles Discussant: Wouter J. den Haan, London School of Economics
4:35 pm	Adjourn
Wednesday, July 20
12:00 n	Lunch
1:00 pm	Gene Amromin, Federal Reserve Bank of Chicago Janice C. Eberly, Northwestern University and NBER John A. Mondragon, Northwestern University The Housing Crisis and the Rise in Student Loans Discussant: Erik Hurst, University of Chicago and NBER
1:50 pm	Andrea Caggese, Universitat Pompeu Fabra and CREI Vicente Cuñat, Universitat Pompeu Fabra Daniel Metzger, Stockholm School of Economics Firing the Wrong Workers: Financing Constraints and Labor Misallocation Discussant: David A. Matsa, Northwestern University and NBER
2:40 pm	Break
2:55 pm	Juan Ospina, University of Chicago Harald Uhlig, University of Chicago and NBER Mortgage-Backed Securities and the Financial Crisis of 2008: a Post Mortem Discussant: Arvind Krishnamurthy, Stanford University and NBER
3:45 pm	Paul S. Willen, Federal Reserve Bank of Boston and NBER Andreas Fuster, Federal Reserve Bank of New York Stephanie Lo, Harvard University The Time-Varying Price of Financial Intermediation in the Mortgage Market Discussant: Samuel Hanson, Harvard University and NBER
4:35 pm	Adjourn