Frontier Risks, a New Normal, and Policy Challenges

All times in EST

Registration and Continental Breakfast

8:30-9:35 am

Welcome

9:35-9:40 am
Joseph Haubrich, Senior Economic and Policy Advisor, Federal Reserve Bank of Cleveland

Opening Remarks

9:40-9:55 am
Loretta J. Mester, President and Chief Executive Officer, Federal Reserve Bank of Cleveland

Panel: Macroprudential and Monetary Policy

9:55–11:10 am
Moderator: Narayana Kocherlakota, Lionel W. McKenzie Professor of Economics, University of Rochester

Panelists
Bill Nelson, Executive Vice President and Chief Economist, Bank Policy Institute
Sujit Kapadia, Head of the Division of Market-Based Finance, European Central Bank
Steve Williamson, Professor and Stephen A. Jarislowsky Chair in Central Banking, Western University; Fellow, Bank of Canada

Break

11:10–11:20 am

Paper Session: Macroprudential and Monetary Policy

11:20–12:10 pm
Moderator and Discussant: Greg Phelan, Senior Researcher, Office of Financial Research

Bank Runs, Fragility, and Credit Easing
Javier Bianchi, Monetary Advisor, Federal Reserve Bank of Minneapolis
Manuel Amador, Curtis L. Carlson Professor of Economics, University of Minnesota; Monetary Advisor, Federal Reserve Bank of Minneapolis

Crash Narratives
Dasol Kim, Research Principal, Office of Financial Research
William N. Goetzmann, Edwin J. Beinecke Professor of Finance and Management Studies, Faculty Director of the International Center for Finance, Yale School of Management
Robert J. Shiller, Sterling Professor of Economics, Yale University

Lightning Round: Macroprudential and Monetary Policy

12:10-12:40 pm

Unintended Consequences of Holding Dollar Assets
Robert Czech, Senior Research Economist, Bank of England
Shiyang Huang, Associate Professor of Finance, University of Hong Kong Business School
Dong Lou, Professor of Finance, London School of Economics
Tianyu Wang, Associate Professor, Tsinghua University

Open Banking: Credit Market Competition When Borrowers Own the Data
Jing Huang, Assistant Professor of Finance, Texas A&M University
Zhiguo He, Fuji Bank and Heller Professor of Finance and Jeuck Faculty Fellow, University of Chicago Booth School of Business
Jidong Zhou, Professor of Economics, Yale University

The Financial Origins of Non-Fundamental Risk
Sanjay R. Singh, Visiting Fellow, Federal Reserve Bank of San Francisco
Sushant Acharya, Senior Research Advisor, Bank of Canada
Keshav Dogra, Senior Economist, Federal Reserve Bank of New York

Lunch

12:40–1:00 pm

Keynote

1:00-2:00 pm
Introduction: Joseph Haubrich, Senior Economic and Policy Advisor, Federal Reserve Bank of Cleveland

Tobias Adrian, Financial Counselor and Director of the Monetary and Capital Markets Department, International Monetary Fund

Paper Session: Financial Institutions

2:00-2:50 pm
Moderator and Discussant: Peter Zimmerman, Research Economist, Federal Reserve Bank of Cleveland

Cyberattacks and Financial Stability: Evidence from a Natural Experiment
Antonis Kotidis, Economist, Board of Governors of the Federal Reserve System
Stacey Schreft, Office of Financial Research Deputy Director for Research and Analysis, US Treasury Office of Financial Research

Bank Funding Risk, Reference Rates, and Credit Supply
Stephan Luck, Financial Research Economist, Federal Reserve Bank of New York
Harry Cooperman, Research Analyst, Federal Reserve Bank of New York
Darrell Duffie, Adams Distinguished Professor of Management and Professor of Finance, Stanford University
Zachry Wang, PhD Student, Stanford University
Yilin David Yang, Assistant
Professor of Finance, City
University of Hong Kong

Lightning Round: Financial Institutions

2:50–3:20 pm

Shock Absorbers and Transmitters: The Dual Role of Bank Specialization
Sotirios Kokas, Associate Professor in Finance, University of Essex
Rajkamal Iyer, Associate Professor of Finance, Imperial College
Alexander Michaelides, Professor of Finance, Imperial College
José-Luis Peydró, Professor of Finance, Imperial College

Neglected No More: Housing Markets, Mortgage Lending, and Sea Level Rise
Philip Mulder, Researcher, US Treasury Office of Financial Research
Benjamin J. Keys, Rowan Family Foundation Professor of Real Estate and Finance, Wharton School of the University of Pennsylvania

Dissecting Climate Risks: Are They Reflected in Stock Prices?
George Skiadopoulos, Professor of Finance, Queen Mary University of London and University of Piraeus
Renato Faccini, Deputy Head of Research, Danmarks Nationalbank
Rastin Matin, Senior Quantitative Analyst Financial Stability, Danmarks Nationalbank

Break

3:20-3:35 pm

Panel: Financial Institutions

3:35–4:50 pm
Moderator: Beverly Hirtle, Director of Research and Head of Research and Statistics, Federal Reserve Bank of New York

Panelists
Arthur J. Murton, Deputy to the Chairman for Financial Stability, Federal Deposit Insurance Corporation
Marc R. Saidenberg, EY Americas Financial Services Regulatory Lead, Principal US Financial Services Consulting, Ernst & Young LLP
Anjan Thakor, Interim Dean, John M. Olin Business School; Director of Doctoral Programs, and CFAR and John E. Simon Professor of Finance, Washington University in St. Louis