The Sixth New York Fed/NYU Stern Conference on Financial Intermediation

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The Sixth New York Fed/NYU Stern Conference on Financial Intermediation

November 4-5, 2010


Agenda


Thursday, November 4, 2010

8:15 a.m.	Continental Breakfast

9:00 a.m.	Welcoming Remarks James McAndrews, Director of Financial Research, Federal Reserve Bank of New York Session Chair: Hamid Mehran, Federal Reserve Bank of New York

9:05 a.m.	Can Hedge Funds Time Market Liquidity? Charles Cao, Pennsylvania State University Yong Chen, Virginia Tech Bing Liang, University of Massachusetts at Amherst Andrew W. Lo, Massachusetts Institute of Technology Discussant: Itzhak Ben-David, Ohio State University

10:05 a.m.	Hedge Funds in M&A; Deals: Is There Exploitation of Private Information? Rui Dai, York University Nadia Massoud, York University Debarshi Nandy, York University Anthony Saunders, New York University Discussant: Victoria Ivashina, Harvard University and National Bureau of Economic Research

11:05 a.m.	Coffee Break

11:20 a.m.	Correlated Leverage Anand Goel, LEGG Fenghua Song, Pennsylvania State University Anjan Thakor, Washington University in St. Louis Discussant: Vish Viswanathan, Duke University

12:30 p.m.	Lunch Session Chair: Stavros Peristiani, Federal Reserve Bank of New York

1:45 p.m.	Institutional Investment in Syndicated Loans Debarshi Nandy, York University Pei Shao, University of Northern British Columbia Discussant: Andrew Hertzberg, Columbia University

2:45 p.m.	Unstable Equity? Combining Banking with Private Equity Investing Lily Fang, INSEAD Victoria Ivashina, Harvard University and National Bureau of Economic Research Josh Lerner, Harvard University and National Bureau of Economic Research Discussant: Anna Kovner, Federal Reserve Bank of New York

3:45 p.m.	Coffee Break

4:00 p.m.	Does Systemic Risk in the Financial Sector Predict Future Economic Downturns? Linda Allen, Baruch College Turan Bali, Baruch College Yi Tang, Fordham University Discussant: Til Schuermann, Federal Reserve Bank of New York

5:00 p.m.	Keynote Speaker: Professor Raghuram Rajan, University of Chicago

5:45 p.m.	Reception


Friday, November 5

8:15 a.m.	Continental Breakfast Session Chair: Philipp Schnabl, New York University

9:00 a.m.	The Economics of Unsolicited Credit Ratings Paolo Fulghieri, University North Carolina Günter Strob, University of North Carolina Han Xia, University of North Carolina Discussant: Chester Spatt, Carnegie Mellon University

10:00 a.m.	The Maturity Rat Race Markus Brunnermeier, Princeton University Martin Oehmke, Columbia University Discussant: Philip Bond, University of Pennsylvania

11:00 a.m.	Coffee Break
11:15 a.m.	Investors’ Horizons and the Amplification of Market Shocks Christina Cella, Indiana University Andrew Ellul, Indiana University Mariassunta Giannetti, Stockholm School of Economics, Centre for Economic Policy Research, and European Corporate Governance Institute Discussant: Jean Helwege, University of South Carolina

12:15 p.m.	Lunch and Adjourn