Thursday, November 16, 2006 – Friday, November 17, 2006
Agenda Download (PDF – 48kb)
| Thursday, November 16 | |
| 12:00 p.m. | Informal Lunch |
| 1:00 p.m. | Welcoming Remarks |
| Janet Yellen, President, Federal Reserve Bank of San Francisco | |
| Afternoon Session: Financial Innovation and the Consumer | |
| 1:10 p.m. | “The Macroeconomic Transition to High Household Debt” |
| Presenters: | Jeffrey Campbell, Federal Reserve Bank of Chicago Zvi Hercowitz, Tel Aviv University |
| Discussants: | Eric Hurst, University of Chicago Richard Rogerson, Arizona State University |
| 2:25 p.m. | “Financial Innovation and the Great Moderation: What Do Household Data Say?” |
| Presenters: | Karen Dynan, Board of Governors Douglas Elmendorf, Board of Governors Daniel Sichel, Board of Governors |
| Discussants: | Chris Carroll, Johns Hopkins Paul Willen, Federal Reserve Bank of Boston |
| 3:40 p.m. | Break |
| 4:10 p.m. | “The Supply and Demand Side Impacts of Credit Market Information” |
| Presenters: | Craig McIntosh, University of California, San Diego Alain de Janvry, University of California, Berkeley Elisabeth Sadoulet, University of California, Berkeley |
| Discussants: | Steve Boucher, University of California, Davis Atif Mian, University of Chicago |
| 5:30 p.m. | Reception |
| Friday, November 17 | |
| 8:00 a.m. | Breakfast |
| Morning Session: Financial Innovations, Risk Sharing and Systemic Risk | |
| 9:00 a.m. | “Has the Development of the Structured Credit Market Affected the Cost of Corporate Debt?” |
| Presenters: | Adam Ashcraft, Federal Reserve Bank of New York Joao Santos, Federal Reserve Bank of New York |
| Discussants: | Simon Gilchrist, Boston University Christine Parlour, University of California, Berkeley |
| 10:15 a.m. | Break |
| 10:45 a.m. | “Financial Innovation, Macroeconomic Stability and Systemic Crises” |
| Presenters: | Prasanna Gai, Bank of England Sujit Kapadia, Bank of England Stephen Millard, Bank of England Ander Perez, LSE |
| Discussants: | Arvind Krishnamurthy, Northwestern University William Nelson, Board of Governors |
| 12:00 p.m. | Lunch |
| Afternoon Session: Financial Innovations, Borrowers and Lenders | |
| 1:00 p.m. | “Financial Innovations and Macroeconomic Volatility” |
| Presenters: | Urban Jermann, The Wharton School Vincenzo Quadrini, University of Southern California |
| Discussants: | Wouter den Haan, University of Amsterdam Giorgio Primiceri, Northwestern University |
| 2:15 p.m. | Break |
| 2:45 p.m. | “Financial Innovations, Idiosyncratic Risk, and the Joint Evolution of Real and Financial Volatilities” |
| Presenter: | Christina Wang, Federal Reserve Bank of Boston |
| Discussants: | Brad DeLong, University of California, Berkeley Richard Rosen, Federal Reserve Bank of Chicago |