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Provision and Pricing of Liquidity Insurance |
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Program
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| Thursday, June 11, 2009 |
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| 8:15 – 8:45 a.m. |
Continental Breakfast |
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| 8:45 – 8:50 a.m. |
Welcome and Introduction
William C. Dudley, President
Federal Reserve Bank of New York |
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| 8:50 – 11:15 a.m. |
Session 1
Chair:
Rafael Repullo, Professor and Director, CEMFI and Co-Editor, IJCB
Interbank lending, credit risk premia and collateral: theory and policy 
Florian Heider, Senior Economist, Financial Research Division, European Central Bank
Marie Hoerova, Economist, Financial Research Division, European Central Bank
Discussant: Ernst-Ludwig von Thadden, Professor, University of Mannheim
Liquidity, Moral Hazard and Interbank Market Collapse
Enisse Kharroubi, Economist, International Macroeconomics Division, Banque de France
Edouard Vidon, Head of International Macroeconomics Division, Banque de France
Discussant:
Tano Santos, Professor, Graduate School of Business, Columbia Business School
Commentator:
Bengt Holmstrom, Professor, Massachusetts Institute of Technology |
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| 11:15 – 11:30 a.m. |
Coffee Break |
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| 11:30 – 1:00 p.m. |
Session 2
Chair:
Til Schuermann, Vice President, Financial Intermediation, Federal Reserve Bank of New York and Co-Editor, IJCB
Credit, Asset Prices, and Financial Stress
Miroslav Misina, Bank of Canada
Greg Tkacz, Assistant Chief, Alternative Models and Indicators Division, Bank of Canada
Discussant:
Stijn Claessens, Assistant Director, International Monetary Fund
Commentators:
Tobias Adrian, Assistant Vice President, Federal Reserve Bank of New York
Hyun Shin, Professor, Princeton University |
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| 1:00 – 2:30 p.m. |
Lunch
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| 2:30 – 4:00 p.m. |
Session 3
Chair:
Douglas Gale, Professor, New York University and Co-Editor, IJCB
Strategic Trading in Multiple Assets and the Effects on Market Volatility
Chenghuan Sean Chu, Board of Governors
Andreas Lehnert, Board of Governors
Wayne Passmore, Board of Governors
Discussant:
Bruce Carlin, Assistant Professor, UCLA Anderson School of Management
Commentator:
Lasse Pedersen, Professor, Stern School of Business, New York University |
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| 4:00 – 4:15 p.m. |
Coffee Break |
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| 4:15 – 5:30 p.m. |
Session 4: Panel discussion
Chair:
Christine M. Cumming, First Vice President, Federal Reserve Bank of New York
Panelists:
Nigel Jenkinson, Adviser to the Governor, Bank of England
Martin Hellwig, Professor of Economics and Director, Max Planck Institute
Eli M. Remolona, Chief Representative, Representative Office for Asia and the Pacific, Bank for International Settlements |
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| 5:30 p.m. |
End of Program |
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| 6:00 p.m. |
Pre-Dinner Speech
Chair:
Charles Bean, Deputy Governor, Bank of England
Guest Speaker |
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