Chicago Financial Institutions Conference 2017
Event on 2017-03-30 13:00:00
The Department of Finance and the Center for Financial Services at DePaul University will hold the second annual Chicago Financial Institutions Conference on March 30 and 31, 2017. The conference will bring together researchers from around the world to foster a dialogue on important issues in the financial services industry. Preceding the conference on March 29, attendees are invited to join the 10th annual Risk Conference at the Federal Reserve with financial service professionals, which is co-sponsored with the Supervision and Regulation Department of the Federal Reserve Bank of Chicago. Together, these two conferences offer a unique opportunity to connect theory and practice. Conference Organizers:Lamont Black – DePaul UniversityElijah Brewer – DePaul University Advisory Committee:Allen N. Berger – University of South CarolinaCharles Calomiris – Columbia UniversityRobert DeYoung – University of KansasMark J. Flannery – University of Florida and the Securities and Exchange CommissionIftekhar Hasan – Fordham University Joseph G. Haubrich – Federal Reserve Bank of ClevelandRandall Kroszner – University of ChicagoGreg Udell – Indiana UniversityLarry Wall – Federal Reserve Bank of Atlanta Agenda: THURSDAY, March 30 Session 1.A: Financial sector performance and risk The stock market and bank risk-takingAntonio Falato (Federal Reserve Board) and David Scharfstein (Harvard Business School) Short-termism spillovers from the financial industryAndrew Bird (Carnegie Mellon), Aytekin Ertan (London Business School), Stephen Karolyi (Carnegie Mellon), and Thomas Ruchti (Carnegie Mellon) Equity is cheap for large financial institutions: The international evidencePriyank Gandhi (Notre Dame), Hanno Lustig (Stanford GSB), and Alberto Plazzi (USI Lugano) Session 1.B: Monetary policy and banks Life below zero: Bank lending under negative policy ratesFlorian Heider (ECB), Farzad Saidi (Stockholm School of Economics), and Glenn Schepens (ECB) Competition, lending, and funding when monetary policy is unconventionalMichael Koetter (IW Halle), N. Podlich (ECB), and M. Wedow (ECB) Crises and rescues: liquidity transmission through international banksClaudia Buch (Deutsche Bundesbank), Catherine Koch (BIS), and Michael Koetter (IW Halle) Session 2.A: Credit supply and demand Bank system transparency and access to creditKarthik Balakrishnan (London Business School) and Aytekin Ertan (London Business School) Do small banks improve household’s sentiment and help reduce their financial constraints? Evidence from the University of Michigan Surveys of ConsumersAllen Berger (U South Carolina), Felix Irresberger (Cardiff Business School), and Raluca Roman (Federal Reserve Bank of Kansas City) The marginal propensity to consume over the business cycleTal Gross (Columbia U), Matthew Notowidigdo (Northwestern U), and Jialan Wang (U Illinois) Session 2.B: Regulation and reputation Optimal supervisory architecture and financial integration in a banking unionJean-Edouard Colliard (HEC Paris) Hub-and-spoke regulation and the leverage of financial intermediariesYadav Gopalan (Washington U in St. Louis), Ankit Kalda (Washington U in St. Louis), and Asaf Manela (Washington U in St. Louis) Reputation and competition in the credit ratings market – evidence from commercial mortgage-backed securitiesRamin Baghai (Stockholm School of Economics) and Bo Becker (Stockholm School of Economics) FRIDAY, March 31 Session 3.A: Credit and collateral Changes in the cost of bank equity and the supply of bank creditClaire Celerier (U Toronto), Thomas Kick (Deutsche Bundesbank), and Steven Ongena (U Zurich) Collateral damage? The Sequel. On liquidation value, credit supply, and firm performanceGeraldo Cerqueiro (Catolica Lisbon), Steven Ongena (U Zurich), and Kasper Roszbach (Riksbank) Bank lending in the knowledge economyGiovanni Dell’Ariccia (IMF), Dalida Kadyrzhanova (Georgia State U), Camelia Minou (IMF), and Lev Ratnovski (IMF) Session 3.B: Market-making institutions Self-fulfilling fire sales: Fragility of collateralised short-term debt marketsJohn Kuong (INSEAD) Market structure and transaction costs of index CDSsPierre Collin-Dufresne (EPFL), Benjamin Junge (EPFL), and Anders Trolle (EPFL) The failure of a clearinghouse: Empirical evidenceVincent Bignon (Banque de France) and Guillaume Vuillemey (HEC Paris) Session 4.A: Syndicated loans What begets loan performance? The human factor in the corporate lending marketJanet Gao (Indiana U), Xiumin Martin (Washington U in St. Louis), and Joseph Pacelli (Indiana U) Systemic risk-taking at banks: Evidence from the pricing of syndicated loansDi Gong (UIBE Beijing) and Wolf Wagner (Rotterdam School of Management) Pipeline risk in leveraged loan syndicationMax Bruche (Cass Business School), Frederic Malherbe (London Business School), and Ralf Meisenzahl (Federal Reserve Board) Session 4.B: Information in financial markets Shareholders as creditors of first resortAndriy Bodnaruk (U Illinois – Chicago) and Marco Rossi (Texas A&M) Bank information sharing and liquidity riskFabio Castiglionesi (Tilburg U), Zhao Li (U Pompeu Fabra), Kebin Ma (Warwick Business School) Equity crowdfunding: Harnessing the wisdom of the crowdDavid Brown (U Arizona) and Shaun Davies (U Colorado – Boulder) Session 5.A: Bank-sovereign nexus The invisible hand of the government: ‘Moral suasion’ during the European sovereign debt crisisSteven Ongena (U Zurich), Alexander Popov (ECB), and Neeltje van Horen (Bank of England) The (unintended?) consequences of the largest liquidity injection everMatteo Crosignani (Federal Reserve Board), Miguel Faria-e-Castro (NYU), and Luis Fonseca (London Business School) Subnational debt of China: The politics-finance nexusHaoyu Gao (City U of Hong Kong), Hong Ru (Nanyang Technological U), and Dragon Tang (U Hong Kong) Session 5.B: Banks and depositors Intermediaries as safety providersToni Ahnert (Bank of Canada) and Enrico Perotti (U Amsterdam) Do corporate depositors risk everything for nothing? The importance of deposit relationships, interest rates and bank risk Daniel Friedmann (Goethe U), Bjorn Imbierowicz (Copenhagen Business School), Anthony Saunders (NYU), and Sascha Steffen (U Mannheim) Hidden cost of better bank services: Carefree depositors in riskier banks?Dong Choi (Federal Reserve Bank of New York) and Ulysses Velasquez (Federal Reserve Bank of New York) Session 6.A: Crises and bailouts Political borders and bank lending in post-crisis AmericaMatthieu Chavaz (Bank of England) and Andrew Rose (U California – Berkeley) Public bank guarantees and allocative efficiencyReint Gropp (IW Halle), Andre Guettler (U Ulm), and Vahid Saadi (IW Halle) Bailouts, bail-ins and banking crisesTodd Keister (Rutgers U) and Yuliyan Mitkov (Rutgers U) Session 6.B: Consumer finance Uncertainty and consumer credit decisionsMarco Di Maggio (Harvard Business School), Amir Kermani (U California – Berkeley), Rodney Ramcharan (U Southern California), and Edison Yu (Federal Reserve Bank of Philadelphia) Bank deposits and the stock marketLeming Lin (U Pittsburgh) Monetary normalizations and consumer credit: Evidence from Fed liftoff and online lendingChristoph Bertsch (Riksbank), Isaiah Hull (Riksbank), and Xin Zhang (Riksbank)
at University Club of Chicago
16 East Monroe Street
Chicago, United States