Schedule

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Friday, September 7 

Location: Harper Center, Chicago Booth, 5807 S. Woodlawn Avenue, Chicago, IL 60637 (map)
Lunch is in room 219, sessions are in Room C25

Time / Room Title / Presenter
12:00–1:30 p.m.                                          
Opening Lunch
 1:30–3:00 p.m.                                    

SESSION I

Banking on Deposits: Maturity Transformation without Interest Rate Risk
Itamar Drechsler (NYU Stern), Alexi Savov (NYU Stern), and Philipp Schnabl (NYU Stern)

Interbank Trading and Financial Regulation
Dean Corbae (University of Wisconsin-Madison) and Michael Gofman (University of Rochester)

 3:00–3:30 p.m. Break
 3:30–5:00 p.m.

SESSION II

Regulating Deferred Incentive Pay
Florian Hoffmann (University of British Columbia),Roman Inderst (Goethe University), and Marcus Opp (Stockholm school of Economics) 

Pledgeability, Industry Liquidity, and Financing Cycles
Douglas W. Diamond (University of Chicago), Yunzhi Hu (University of North Carolina), and Raghuram G. Rajan (University of Chicago) 

5:30p.m. Bus will leave from outside of Chicago Booth
6:30–10:00 p.m. Dinner at Nico Osteria
                           

Saturday, September 8

Location: Gleacher Center, 540 N. Cityfront Plaza Drive, Chicago, IL 60611 (map
All sessions are in Room 200

Time / Room Title / Presenter
 8:30–9:00 a.m.
Continental Breakfast
 9:00–10:30 a.m.

SESSION III

Understanding the Credit Multiplier: The Working Capital Channel
Heitor Almeida (University of Illinois, Urbana-Champaign), Daniel Carvalho (Indiana University), and Taehyun Kim (University of Notre Dame)

The Importance of Sovereign Reference Rates for Corporate Debt Issuance
Bruce Grundy (University of Melbourne), Sjoerd van Bekkum (Erasmus University), and Patrick Verwijmeren (Erasmus University/Melbourne University)

10:30–11:00 a.m.                                     
Break
11:00 a.m.–12:30 p.m.

SESSION IV

Discount Window, Stigma, and Term Auction Facility
Yunzhi Hu (University of North Carolina) and Hanzhe Zhang (Michigan State University)

The Hidden Costs of Strategic Opacity
Ana Babus (Washington University) and Maryam Farboodi (MIT Sloan School of Management)

12:30–2:00 p.m.

Lunch Panel Discussion: Bank Regulation

What Should Be the Regulatory Boundary Between the SEC and the Federal Reserve?
Chester Spatt (Carnegie Mellon University and MIT)

The Origins of Italian NPLs
Paolo Angelini (Bank of Italy), Marcello Bofondi (Bank of Italy), and Luigi Zingales (University of Chicago)

Government Guarantees and the Valuation of American Banks
Andrew G. Atkeson (UCLA), Adrien d’Avernas (Stockholm School of Economics), Andrea Eisfeldt (UCLA), and Pierre-Olivier Weill (UCLA)

Moderator: Raghuram Rajan (University of Chicago)