|
NATIONAL BUREAU OF
ECONOMIC RESEARCH, INC. |
|
|
|
SUMMER INSTITUTE
2010 |
|
|
|
Risks of Financial Institutions Workshop |
|
|
|
Mark Carey and René
Stulz, Organizers |
|
|
|
|
|
|
|
Royal Sonesta Hotel |
|
40 Edwin H. Land
Boulevard |
|
Cambridge,
Massachusetts |
|
|
|
PROGRAM |
|
Wednesday,
July 14: |
|
|
|
|
|
8:30
am |
Coffee
and Pastries |
|
|
|
|
9:00
am |
BRUNO
BIAIS, |
|
|
FLORIAN
HEIDER, European Central Bank |
|
|
MARIE
HOEROVA, European Central Bank |
|
|
Risk-Sharing or Risk-Taking? Financial
Innovation, Margin Requirements and Incentives |
|
|
|
|
|
Discussant: BRUCE CARLIN, UC, |
|
|
|
|
9:55
am |
OLIVIER
ARMANTIER, Federal Reserve Bank of New York |
|
|
ERIC
GHYSELS, University of North Carolina |
|
|
ASANI
SARKAR, Federal Reserve Bank of New York |
|
|
JEFFREY
SHRADER, Federal Reserve Bank of New York |
|
|
|
|
|
|
|
|
Discussant: JONATHAN WRIGHT, John Hopkins University
and NBER |
|
|
|
|
10:50
am |
Break |
|
|
|
|
11:10
am |
JOHN
DAI, Capula Investment Management |
|
|
SURESH
SUNDARESAN, Columbia University |
|
|
Risk
Management Framework for Hedge Funds Role of Funding and Redemption Options
on Leverage |
|
|
|
|
|
Discussant: ANDREW LO, MIT and NBER |
|
|
|
|
12:05
pm |
CRISTINA
CELLA, Indiana University |
|
|
ANDREW
ELLUL, |
|
|
MARIASSUNTA
GIANNETTI, Stockholm School of Economics |
|
|
|
|
|
|
|
|
Discussant:
JOSUHA COVAL, |
|
|
|
|
1:00
pm |
Lunch |
|
|
|
|
2:00
pm |
ANTONIO
BERNARDO, UC, Los Angeles |
|
|
IVO
WELCH, |
|
|
Aggregate
Leverage and Preemptive Selling by Individual Financial Institutions |
|
|
|
|
|
Discussant: ANJAN THAKOR, Washington University |
|
|
|
|
2:55
pm |
Break |
|
|
|
|
3:15
pm |
STEPHEN
BROWN, |
|
|
WILLIAM
GOETZMANN, |
|
|
BING
LIANG, |
|
|
CHRISTOPHER
SCHWARZ, UC, Irvine |
|
|
|
|
|
|
|
|
Discussant: DAVID MODEST, Soros Fund Management |
|
|
|
|
4:10
pm |
SHAWN
COLE, |
|
|
MARTIN
KANZ, |
|
|
LEORA
KLAPPER, World Bank |
|
|
|
|
|
|
|
|
Discussant:
DANIEL PARAVISINI, |
|
|
|
|
5:05
pm |
Adjourn |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6/4/10 |
|