Federal Reserve Day Ahead Conference on Financial Markets and Institutions Federal Reserve Day Ahead Conference on Financial Markets and Institutions

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January 6, 2022
8:45 A.M. – 2:00 P.M. EST
Virtual

The 15th annual Day-Ahead Conference on Financial Markets and Institutions is an opportunity for productive interaction in advance of the 2022 ASSA meeting and the sharing of policy-relevant research among economists in the Federal Reserve System, at other central banks, and in academia.

Agenda

8:45 a.m. - 8:50 a.m.

Conference Opening

8:50 a.m. - 9:00 a.m.

Introductory Remarks

9:00 a.m. - 10:30 a.m.

Monetary Policy Session

Chair:
Diana Hancock, Federal Reserve Board of Governors

9:00 a.m. - 9:45 a.m.

“U.S. Monetary Policy and Credit Risk of New Corporate Credit Lines”

Lucy Qian Liu, International Monetary Fund,
Viktors Stebunovs, Federal Reserve Board of Governors

Discussant:
Victoria Ivashina, Harvard Business School

9:45 a.m. - 10:30 a.m.

“Monetary Policy Transmission in Segmented Markets”

Jens Eisenschmidt, European Central Bank,
Yiming Ma, Columbia Business School,
Anthony Lee Zhang, University of Chicago Booth School of Business

Download Download Paper (pdf)

Discussant:
Darrell Duffie, Stanford University

10:30 a.m. - 10:45 a.m.

Break

10:45 a.m. - 12:15 p.m.

Banking Session

Chair:
Falk Bräuning, Federal Reserve Bank of Boston

10:45 a.m. - 11:30 a.m.

“The Value of Lending Relationships”

Andrew Bird, Tepper School of Business Carnegie Mellon University,
Michael Hertzel, Carey School of Business Arizona State University,
Stephen Karolyi, Tepper School of Business Carnegie Mellon University,
Thomas Ruchti, Tepper School of Business Carnegie Mellon University

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Discussant:
Leonardo Gambacorta, Bank of International Settlements

11:30 a.m. - 12:15 p.m.

“Who Pays the Price? Overdraft Fee Ceilings and the Unbanked”

Jennifer Dlugosz, Federal Reserve Board of Governors,
Brian Melzer, Dartmouth College,
Donald Morgan, Federal Reserve Bank of New York

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Discussant:
Chris Palmer, MIT Sloan School of Management

12:15 p.m. - 12:30 p.m.

Break

12:30 p.m. - 2:00 p.m.

Markets and Liquidity Session

Chair:
Gene Amromin, Federal Reserve Bank of Chicago

12:30 p.m. - 1:15 p.m.

“Asset Managers, Market Liquidity and Bank Regulation”

Iñaki Aldasoro, Bank of International Settlements,
Wenqian Huang, Bank of International Settlements,
Nikola Tarashev, Bank of International Settlements

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Discussant:
Yi Li, Federal Reserve Board of Governors

1:15 p.m. - 2:00 p.m.

“The Value of Internal Sources of Funding Liquidity: US Broker-Dealers and the Financial Crisis”

Cecilia Caglio, Federal Reserve Board of Governors,
Adam Copeland, Federal Reserve Bank of New York,
Antoine Martin, Federal Reserve Bank of New York

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Discussant:
Patricia Mosser, Columbia University

2:00 p.m.

Adjourn

Contacts

General Information