Aug 11 - Aug 15, 2015
Washington University in St. Louis, Washington University
Olin Business School
St. Louis, MO
Summer School 2015
Organizing Committee: Itay Goldstein, Ohad Kadan (chair), Uday Rajan Advisory Board: Simon Gervais, Adriano A. Rampini, Anjan V. Thakor Program Coordinator: Marcianne Gagliardi
Schedule
| Tuesday, August 11, 2015 | |
| 7:00pm − 9:00pm | Welcome Reception |
| Wednesday, August 12, 2015 | |
| 7:30am − 8:30am | Breakfast |
| 8:30am − 9:00am | Opening Remarks |
| 9:00am − 12:30pm | Peter M. DeMarzo: Dynamic Financial Contracting Notes Part 1: Discrete Time Models Notes Part 2: Continuous-Time Agency Notes Part 3: Using the Model Video |
| 12:30pm − 2:00pm | Lunch |
| 2:00pm − 5:30pm | Gustavo Manso: Incentives for Innovation Notes: Incentives for Innovation Video |
| 5:30pm − 7:00pm | Dinner |
| 7:00pm − 7:30pm | Parallel Contributed Paper Sessions 1. Barney Hartman-Glaser (UCLA): Dynamic Agency and Real Options 2. Liyan Yang (Toronto): Back-Running: Seeking and Hiding Fundamental Information in Order Flows 3. Naveen Khanna (Michigan): Rewarding Disagreement: Optimal Contracts for Collective Decision Making |
| 7:30pm − 8:00pm | Parallel Contributed Paper Sessions 1. Alejandro Rivera (BU): Dynamic Moral Hazard, Risk Shifting, and Optimal Capital Structure 2. Hongda Zhong (Minnesota): A Dynamic Model of Optimal Creditor Dispersion 3. Jessie Jiaxu Wang (Arizona): Distress Dispersion and Systemic Risk in Networks |
| 8:00pm − 8:30pm | Parallel Contributed Paper Sessions 1. Kaniska Dam (CIDE): A Two-Sided Matching Model of Monitored Finance 2. Doron Levit (Wharton): Governing Through Communication and Intervention 3. Ngoc-Khanh Tran (Washington): The Hirshleifer Effect Revisited: The Case of Disagreement |
| Thursday, August 13, 2015 | |
| 8:00am − 9:00am | Breakfast |
| 9:00am − 12:30pm | Adriano A. Rampini: Dynamic Collateralized Finance Lecture Syllabus Notes: Dynamic Collateralized Finance Video |
| 12:30pm − 2:00pm | Lunch |
| 2:00pm − 5:30pm | Philip H. Dybvig: Bank Runs, Deposit Insurance, and Liquidity Notes Part 1: Bank Runs, Deposit Insurance, and Liquidity Notes Part 2: Banking Theory, Deposit Insurance, and Bank Regulation Notes Part 3: Some Thoughts On Doing Research |
| 5:30pm − 7:00pm | Dinner |
| 7:00pm − 7:30pm | Parallel Contributed Paper Sessions 1. Jason Donaldson (Washington): Warehouse Banking 2. Francesco Sangiorgi (Stockholm): Searching for Information 3. John Chi-Fong Kuong (INSEAD): Self-Fulfilling Fire Sales: Fragility of Collateralised Short-term Debt Markets |
| 7:30pm − 8:00pm | Parallel Contributed Paper Sessions 1. Daniel Green (MIT): Misallocation, Investment, and Technology Choice When Borrowers Cannot Contract Exclusively 2. Deniz Okat (Aalto): Deterring Fraud by Looking Away 3. Ye Li (Columbia): Fragile New Economy |
| 8:00pm − 8:30pm | Parallel Contributed Paper Sessions 1. Yasser Boualam (Wharton): Bank Lending and Relationship Capital 2. Sascha Steffen (ESMT): Does Lack of Financial Stability Impair the Transmission of Monetary Policy? 3. Dalida Kadyrzhanova (Georgia): Rising Intangible Capital, Shrinking Debt Capacity and the US Corporate Savings Glut |
| Friday, August 14, 2015 | |
| 8:00am − 9:00am | Breakfast |
| 9:00am − 12:30pm | Douglas W. Diamond: Short-term Debt, Bank Monitoring, and Liquidity Creation Paper 1: Delegated Monitoring and Legal Protection Paper 2: Banks, Runs, and Liquidity Creation Notes: Delegated Monitoring, Legal Protection, Runs and Commitment |
| 12:30pm − 2:00pm | Lunch |
| 2:00pm − 5:30pm | Itay Goldstein: Financial Stability – A Global Games Approach Notes: Financial Stability- A Global Games Approach Video |
| 5:30pm − 7:00pm | Dinner |
| 7:00pm − 7:30pm | Parallel Contributed Paper Sessions 1. Chong Huang (UC Irvine): Mutual Fund's Reputation for Information Superiority 2. Mahmoud Elamin (Cleveland Fed): The Effect of Safe Assets on Financial Fragility in a Bank-Run Model 3. Jing Zeng (Frankfurt): Serve to Securitise: Mortgage Securitisation, Servicing and Foreclosures |
| 7:30pm − 8:00pm | Parallel Contributed Paper Sessions 1. Adrian Corum (Wharton): Corporate Control Activism 2. Naveen Gondhi (Northwestern): When Transparency Improves, Must Prices Reflect Fundamentals Better? 3. Hyunsoo Doh (Chicago): Dynamic Debt Runs with Strategic Complementarity |
| 8:00pm − 8:30pm | Parallel Contributed Paper Sessions 1. Kristle Cortes (Cleveland Fed): Tracing Out Capital Flows: How Financially Integrated Banks Respond to Natural Disasters 2. Roni Kisin (Washington): Funding and Incentives of Regulators: Evidence from Banking 3. Fenghua Song (Penn State): Blockholder Short-Term Incentives, Structures, and Governance |
| Saturday, August 15, 2015 | |
| 8:00am − 9:00am | Breakfast |
| 9:00am − 12:30pm | Anjan V. Thakor: Bank Capital Structure and Financial Stability Notes: Bank Capital and Financial Stabillity Video |
| 12:30pm − 2:00pm | Lunch |
| 2:00pm | Adjourn |