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Summer Workshop on Money, Banking, Payments and Finance
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Summer Workshop on Money, Banking, Payments and Finance

  • Overview
  • Speakers
  • Agenda
  • Accommodations
  • Conference Materials
  • Registration
currency

The economic research department of the Federal Reserve Bank of Chicago hosted a summer workshop on money, banking, payments and finance. This workshop brought together experts from academia and policy institutions around the world to discuss recent developments in the field. The goal of the conference was to provide a frank and critical assessment of all papers presented and to take stock of where we are and where we should be heading.

08/06/12
10:30 AM
Session 1: Debt, Inflation and Central Bank Independence

Fernando Martin,  Federal Reserve Bank of St. Louis

11:30 AM
Session 2: Monetary Policy, Asset Prices and Liquidity in Over-the-Counter Markets

Thanasis Geromichalos,  University of California, Davis

Lucas Herrenbrueck ,  University of California, Davis

12:30 PM
Lunch
1:30 PM
Session 3: Clearing with Two-Sided Limited Commitment

Cyril Monnet ,  University of Bern

Thomas Nellen,  Swiss National Bank

2:30 PM
Session 4: Market Crashes, Deleverage and Macroeconomic Activity

Carlos Garriga,  Federal Reserve Bank of St. Louis

Rodolfo Manuelli,  Washington University

Adrian Peralta-Alva,  Federal Reserve Bank of St. Louis

4:00 PM
Session 5: Pledgability and Liquidity

Venky Venkateswaran,  Penn State University

Randy Wright,  University of Wisconsin

08/07/12
10:30 AM
Session 1: Information Costs and International Currencies

Cathy Zhang,  University of California at Irvine

11:30 AM
Session 2: Avoidance and Mitigation of Public Harm

Ruilin Zhou,  Penn State University

12:30 PM
Lunch and Presentations

Presentations will be 30 minutes each.

  • Credit Crunches in Decentralized Economies: Flight to Quality or to Captivity?

Luis Araujo,  Michigan State University

Raoul Minetti,  Michigan State University

  • Open Market Operations, Distrubution and Market Segmentation

Babak Mahmoudi,  Queen's University

  • The Extrinsic Value of Convertible Money Holdings

Allan Hernandez,  University of Costa Rica

2:45 PM
Session 3: The Good, the Bad and the Ugly: An Inquiry into the Causes and Nature of Credit Cycles

Kiminori Matsuyana,  Northwestern University

3:45 PM
Session 4: Money and Social Norms

Luis Araujo,  Michigan State University

Daniela Puzzello,  Indiana University

5:00 PM
Session 5: On the Co-essentiality of Money and Credit

Chao Gu,  University of Missouri

Fabrizio Mattesini,  University of Rome

Randy Wright,  University of Wisconsin

08/08/12
10:30 AM
Session 1: Private Liquidity Provision and the Role of Banking Regulation

Cyril Monnet,  University of Bern

Daniel Sanches,  Federal Reserve Bank of Philadelphia

11:30 AM
Session 2: Bank Moral Hazard, Default Spirals and Optimal Entry Regulation

Wei-Cheng Chen,  Washington University

12:30 PM
Lunch
1:30 PM
Session 3: Credit Checks and Labor Market Matching

Daphne Chen,  Florida State University

Dean Corbae,  University of Wisconsin

2:30 PM
Session 4: Dealers' Insurance, Market Structure and Liquidity

Francesca Carapella,  Federal Reserve Board of Governors

Cyril Monnet,  University of Bern

4:00 PM
Session 5: On the Optimal Supply of Liquidity with Borrowing Constraints

Francesco Lippi,  Einaudi Institute for Economics and Finance

Nico Trachter,  Einaudi Institute for Economics and Finance

08/09/12
10:30 AM
Session 1: Subsidizing Price Discovery

Braz Camargo,  Fundação Getúlio Vargas - São Paulo

Teddy Kim,  University of Iowa

Ben Lester,  Federal Reserve Bank of Philadelphia

11:30 AM
Session 2: On the Optimality of a Dominant Unit of Account

Matthias Doepke,  Northwestern University

Martin Schneider,  Stanford University

12:30 PM
Lunch Presentations

Each presentation will be 30 minutes.

  • Informative Advertising in Directed Search Models

Pedro Gomis-Porqueras,  Monash University

Benoît Julien,  University of New South Wales

Chengsi Wang,  University of New South Wales

  • On the Existence of Counterfeiting in Competitive Search Equilibrium

Ben Fung,  Bank of Canada

Enchuan Shao,  Bank of Canada

  • Redistributive Effects of Inflation in a Model of Money and Capital

Paola Boel,  Bowdoin College

2:45 PM
Session 3: Endogenous Liquidity and the Business Cycle

Saki Bigio,  New York University

3:45 PM
Session 4: Limited Commitment and the Legal Restrictions Theory of the Demand for Money

Leo Ferraris,  University of Rome

Fabrizio Mattesini,  University of Rome

5:00 PM
Session 5: External Financing and the Role of Financial Frictions over the Business Cycle: Measurement and Theory

Ali Shourideh,  Wharton School

Ariel Zetlin-Jones,  University of Minnesota

08/10/12
10:30 AM
Session 1: Dynamic Asset Markets with Adverse Selection and Information Loss

Michael Choi,  University of Wisconsin

11:30 AM
Session 2: Monetary Policy and Asset Prices: A Mechanism Design Approach

Tai-Wei Hu,  Northwestern University

Guillaume Rocheteau,  University of California at Irvine

12:30 PM
Lunch
1:30 PM
Session 3: A Model of Moral-Hazard Credit Cycles

Roger Myerson,  University of Chicago

2:30 PM
Session 4: Communication and Money in Repeated Games on Networks

Alex Wolitsky,  Stanford University

4:00 PM
Session 5: Adaptive Learning and Monetary Exchange

Ryan Baronowski,  University of California at Irvine

08/11/12
9:30 AM
Session 1: Liquidity and Fragility in OTC Credit Derivative Markets

Andy Atkeson,  University of California at Los Angeles

Andrea Eisfeldt,  University of California at Los Angeles

Pierre-Olivier Weill,  University of California at Los Angeles

Discussant

Briana Chang,  University of Wisconsin

10:45 AM
Session 2: Stability and Efficiency of a Financial Architecture with Too Interconnected to Fail Institutions

Michael Gofman,  University of Wisconsin

Discussant

Charlie Kahn,  University of Illinois at Urbana-Champaign

12:00 PM
Lunch
12:30 PM
Session 3: On the Distributional Effects of Monetary Policy

Guillaume Rocheteau,  University of California at Irvine

Discussant

Jonathan Chiu,  Bank of Canada

1:15 PM
Session 4: Keynes in a Nutshell: A New Monetarist Approach

Steve Williamson,  Washington University

Discussant

Cyril Monnet,  University of Bern

3:15 PM
Session 5: Equilibrium Price Distributions and Inflation

Ken Burdett,  University of Pennsylvania

Guido Manzio,  University of Pennsylvania

Discussant

Allen Head,  Queen's University

4:45 PM
Session 6: Shi-Trejos-Wright Meets Duffie-Garleanu-Pedersen

Alberto Trejos,  INCAE Business School

Randy Wright,  University of Wisconsin

Discussant

Huberto Ennis,  Federal Reserve Bank of Richmond

6:00 PM
Reception
7:00 PM
Dinner and Speaker
  • The Optimality of Inflation in 'Pure Currency' Economies: A Conjecture

Neil Wallace,  Penn State University

 

 

 

 

Last Updated: 07/25/2012

 
Event Information
Date
08/06/12 - 08/11/12
Registration Deadline
Wednesday, August 1, 2012
Location

Federal Reserve Bank of Chicago
230 S LaSalle St
Chicago, IL 60604

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