Banking and Financial Intermediation: Frictions, Regulation and Optimal Design
Norges Bank hosts the conference "Banking and Financial Intermediation: Frictions, Regulation and Optimal Design", October 9th - 10th 2015.
There are four general topics we will be pursuing: (1) Optimal Financial Design and Regulation, (2) Financial Industrial Organization, (3) Financial Interconnections, and (4) Financial Instability. The set of papers have much overlap among these areas. At the end of each session there will be a general discussion and brainstorming, where people can talk about open questions, direction for future research etc. After lunch the first day there will be a policy forum, where we will be discussing current issues in banking regulation.
Program
Friday October 9
08:15 - 08:50: Registration and entry
09:00 - 09:10 Welcome Speech
Jon Nicolaisen (Deputy Governor, Norges Bank)
09:10 - 11:00 Financial Instability
Rafael Repullo (CEMFI)
Search for Yield
Ali Hortaçsu (University of Chicago)
Deposit Competition and Financial Fragility: Evidence from the U.S. Banking Sector
11:00 - 11:20 Break
11:20 - 13:20 Optimal Financial Design and Regulation
Saki Bigio (UCLA)
Bank Asset Choice and Liability Design
Douglas Diamond (University of Chicago Booth School of Business)
Liquidity Requirements, liquidity choice, and financial stability
13:20 - 14:30 Lunch
14:30 - 15:40 Policy discussion
Moderator: Ida Wolden Bache (Executive Director, Financial Stability Norges Bank)
Panel: Skander Van der Heuvel (Federal Reserve Board of Governors), Carmelo Salleo (European Central Bank), Kjetil Storesletten (University of Oslo/Norges Bank Executive Board).
15:40 - 16:00 Break
16:00 - 18:00 Financial Interconnections I
Will Gornall (University of British Columbia)
Financing as a Supply Chain: The Capital Structure of Banks and Borrowers
Erik von Schedvin (Sveriges Riksbank)
Curbing Shocks to Corporate Liquidity: The Role of Trade Credit
Saturday October 10
08:45 - 09:15 Re-registration and entry
09:15 - 11:15 Optimal Financial Design
Benjamin Lester (Federal Reserve Bank of Philadelphia)
Screening and Adverse Selection in Frictional Markets
Robert Townsend (MIT)
Spatial Competition among Financial Service Providers and Optimal Contract Design
11:15 - 11:30 Break
11:30 - 13:30 Financial Interconnections II
Gadi Barlevy (Federal Reserve Bank of Chicago)
Mandatory Disclosure and Financial Contagion
Briana Chang (University of Wisconsin-Madison)
Endogenous Market Making and Network Formation
13:30 - 14:30 Lunch
14:30 - 16:30 Financial Industrial Organization
Victor Aguirregabiria (University of Toronto)
The Geographic Flow of Bank Liquidity Within and Between Branch Networks
Dean Corbae (University of Wisconsin-Madison)
Capital and Liquidity Requirements in a Quantitative Model of Banking Industry Dynamics
Organizing committee
- Jin Cao (Norges Bank Research)
- Sigurd Galaasen (Norges Bank Research)
- Alfonso Irarrazabal (BI Norwegian Business School).
Scientific advisors
- Robert Townsend (MIT)
- Dean Corbae (University of Wisconsin-Madison).