Friday, Oct 09, 2026
San Francisco, CA
Welcome Remarks
Speaker:
Sylvain Leduc, Director of Research and Executive Vice President, Federal Reserve Bank of San Francisco
Session 1: Financial Markets
Chair:
Thomas Mertens, Federal Reserve Bank of San Francisco
Sticky Discount Rates
Authors:
Masao Fukui, Boston University
Niels Joachim Gormsen, The University of Chicago and Copenhagen Business School
Kilian Huber, The University of Chicago
Discussant:
TBD
Real Origins or Financial Structure: The Role of Household and Firm Heterogeneity
Authors:
Greg Buchak, Stanford Graduate School of Business
Erica Jiang, University of California, Los Angeles Anderson School of Management
Discussant:
Dominik Supera, Columbia Business School
Session 2: Banks and Deposits
Chair:
Pascal Paul, Federal Reserve Bank of San Francisco
The Declining Role of Deposits in Credit Creation
Authors:
Naz Koont, Stanford University
Stefan Walz, Boston College
Discussant:
Matteo Crosignani, Federal Reserve Bank of New York
Bank Runs, Fragility, and Regulation
Authors:
Manuel Amador, University of Minnesota
Javier Bianchi, Federal Reserve Bank of Minneapolis
Discussant:
Amit Seru, Stanford University
Academic Keynote Session
Chair:
Pascal Paul, Federal Reserve Bank of San Francisco
Jeremy Stein, Harvard University
Session 3: Treasury Market
Chair:
Thomas Mertens, Federal Reserve Bank of San Francisco
Dissecting Treasury Market Resilience
Authors:
Kristy Jansen, USC Marshall School of Business
Wenhao Li, USC Marshall School of Business
Lukas Schmid, USC Marshall School of Business
Discussant:
Andres Schneider, Miami Business School
How Did Government Bonds Become Safe?
Authors:
Juan Antolin-Diaz, MIT
Discussant:
Matteo Leombroni, Boston College
Janet Yellen Award Ceremony
Chair:
Pascal Paul, Federal Reserve Bank of San Francisco
Presentation of Janet Yellen Award for Monetary Research
Speaker:
Sylvain Leduc, Director of Research and Executive Vice President, Federal Reserve Bank of San Francisco
Award Speech by Recipient
Reception
Dinner
Introductory Remarks
Speaker:
Sylvain Leduc, Director of Research and Executive Vice President, Federal Reserve Bank of San Francisco
Policy Keynote Speech
Speaker:
Amir Yaron, Governor, Bank of Israel
Organizers:
Michael Bauer, Federal Reserve Bank of San Francisco
Pascal Paul, Federal Reserve Bank of San Francisco
Thomas Mertens, Federal Reserve Bank of San Francisco