Norges Bank Workshop on Financial Intermediation

Norges Bank, 12 and 13 September 2011.

Organizing committee
Farooq Akram (Norges Bank)
Johannes Skjeltorp (Norges Bank)
Artashes Karapetyan (Norges Bank)
Casper Christophersen (Norges Bank)

Monday, September 12th

9:00 - 9:30: Registration

9:30 - 9:45: Welcome speech: Birger Vikøren (Financial Stability Deputy Director)

Session 1:
Chair: Henrik Borchgrevink

9:45 - 10:45:
 Collateralization, Bank Loan Rates and Monitoring: Evidence from a Natural Experiment (pdf, 142 kB)

Geraldo Cerqueiro (Portuguese Catholic University)
Steven Ongena (Tilburg University)
Kasper Roszbach (Riksbank)

Discussant: Moshe Kim (Haifa and UPF)

10:45 -11:00:
Coffee break

11:00 - 12:00:
On the Non-Exclusivity of Loan Contracts: An Empirical Investigation (pdf, 163 kB)

Hans Degryse (Tilburg University & CEPR)
Vasso Ioannidou (Tilburg University)
Erik von Schedvin (Tilburg University)

Discussant: Bogdan Stacescu (BI)

12:00 - 13:30:
Buffet lunch

Session 2:
Chair: Sigbjørn Atle Berg

13:30 - 14:30:
 The Volatility of Housing Prices and Bankruptcy Laws

Mariassunta Giannetti (Stockholm School of Economics)
Paolo Volpin (London Business School)

Discussant: Gerhard Illing (University of Munich)

14:30 - 15:30:
 Hidden Costs of Hidden Debt (pdf, 200 kB)

Artashes Karapetyan (Norges Bank)
Johan Almenberg (Ministry of Finance, Sweden)

Discussant: Barbara Bukhvalova (BI)

15:30 - 15:45:
Coffee break

Session 3: Chair: Ylva Søvik

15:45 - 16:45: Authority and Information (pdf, 421 kB)

Sumit Agarwal (Federal Reserve Bank of Chicago)
Robert Hauswald (American University)

Discussant: Bent Vale (Norges Bank)

Dinner at Ekeberg restaurant: Bus leaving at 18:45 from the main entrance of Norges Bank.

Tuesday, September 13th

Session 4: Chair: Arild Lund

9:00 - 10:00: Implicit Intraday Interest Rate in the UK Unsecured Overnight Loan Market

Marius Jurgilas (Norges Bank)
Filip Zikes (Imperial College London)

Discussant: Janis Berzins (BI)

10:00 - 11:00: Aggregate Risk Perceptions, Adverse Selection, and Securitized Lending: Mitigating Allocational Consequences of Exuberance (pdf, 344 kB)

Sudipto Bhattacharya (London School of Economics)
Georgy Chabakauri (London School of Economics)
Kjell Nyborg (University of Zurich)

Discussant: Christian Ewerhart (University of Zurich)

11:00 - 11:15:
Coffee break/sandwiches

Session 5: Chair: Thea Birkeland Kloster

11:15 - 12:15: Repo Market Microstructure in Unusual Monetary Policy Conditions (pdf, 1Mb)

Peter Dunne (Central Bank of Ireland)
Michael Fleming (Federal Reserve Bank of New York)
Andrey Zholo (Queen’s University Management School)

Discussant: Johannes Skjeltorp (Norges Bank)

12:15 - 13:15: Repo runs: Evidence from the tri-party repo market (pdf, 198 kB)

Adam Copeland (Federal Reserve Bank of New York)
Antoine Martin (Federal Reserve Bank of New York)
Michael Walker (Federal Reserve Bank of New York)

Discussant: Marius Jurgilas (Norges Bank)

13:15 - 14:30:
Buffet lunch

Published 9 September 2011 08:30
Edited 13 September 2011 08:29