Summer Workshop on Money, Banking, Payments and Finance
The economic research department of the Federal Reserve Bank of Chicago hosted a summer workshop on money, banking, payments and finance. The workshop brought together experts from academia and policy institutions around the world to discuss recent developments in the field. The conference provided a frank and critical assessment of all papers presented, and to take stock of where we are and where we should be heading.
Thursday, 08/12/10
10:00 AM
Session 1: Liquidity and Asset Price Dynamics
Guillaume Rocheteau, University of California-Irvine
Randy Wright, University of Wisconsin
11:00 AM
Break
11:15 AM
Session 2: Money and Capital in a News Economy
David Andolfatto, Federal Reserve Bank of St. Louis and Simon Fraser University
Fernando Martin, Simon Fraser University
12:15 PM
Lunch
1:00 PM
Session 3: Money and Credit— The Role of the Informal Sector
Chris Waller, Federal Reserve Bank of St. Louis
Adrian Peralta-Alva, Federal Reserve Bank of St. Louis
Pedro Gomis-Porqueras, Australian National University
2:00 PM
Session 4: Counterfeit Quality and Verification in a Monetary Exchange
Ben Fung, Bank of Canada
Enchuan Shao, Bank of Canada
3:00 PM
Break
3:30 PM
Session 5: A Dynamic Competitive (Search) Equilibrium Model of Adverse Selection
Veronia Guerrieri, University of Chicago
Rob Shimer, University of Chicago
Randy Wright, University of Wisconsin
4:30 PM
Session 6: Local Currency Pricing, Price Discrimination and a Uniform Currency
Mei Dong, Bank of Canada
Janet Jiang, University of Manitoba
Friday, 08/13/10
10:00 AM
Session 1: A Monetary Theory with Nondegenerate Distributions
Guido Menzio, University of Pennsylvania
Shouyong Shi, University of Toronto
Amy Hongfei Sun, Queen's University
11:00 AM
Break
11:15 AM
Session 2: Heterogeneity and the Welfare Cost of Inflation — An International Perspective
Paola Boel, Bowdoin College
12:15 PM
Lunch
1:00 PM
Session 3: Institutions for Long-run Cooperation — Experiments on Markets with Frictions
Gabriele Camera, Purdue University
Marco Casari, University of Bologna
2:00 PM
Session 4: Market Freeze and Recovery — Trading Dynamics under Optimal Intervention by a Market-Maker-of-Last-Resort
Jonathan Chiu, Bank of Canada
Thor Koeppl, Queen's University
3:00 PM
Break
3:30 PM
Session 5: Period Length and the Set of Dynamic Equilibria with Commodity Money
Ezra Oberfield, University of Chicago
Nicholas Trachter, Einaudi Institute for Economics and Finance
4:30 PM
Session 6: Money in a Model of Prior Production and Imperfectly Directed Search
Adrian Masters, State University of New York-Albany
5:30 PM
Reception
Saturday, 08/14/10
10:00 AM
Session 1: Costly Recordkeeping, Settlement System and Monetary Policy
Pedro Gomis-Porqueras, Australian National University
Daniel Sanches, Washington University in St. Louis
11:00 AM
Break
11:15 AM
Session 2: Adverse Selection, Reputation and Sudden Collapses in Secondary Loan Markets
V V Chari, Federal Reserve Bank of Minneapolis
Ali Shourideh, Federal Reserve Bank of Minneapolis
Ariel Zetlin-Jones, Federal Reserve Bank of Minneapolis
12:15 PM
Lunch
1:00 PM
Session 3: Fire Sales in a Model of Complexity
Ricardo Caballero, Massachusetts Institute of Technology
Alp Simsek, Massachusetts Institute of Technology
2:00 PM
Session 4: Limiting Fees and Feasible Limits — How Amsterdam Got Fiat Money
Steve Quinn, Texas Christian University
Will Roberds, Federal Reserve Bank of Atlanta
3:00 PM
Break
3:30 PM
Session 5: Bank Liability Insurance Schemes before 1865
Warren Weber, Federal Reserve Bank of Minneapolis
Monday, 08/16/10
10:00 AM
Session 1: Implications of Monetary Search Frictions on the Exchange Rate Dynamics
Pedro Gomis-Porqueras, Australian National University
Timothy Kam, Australian National University
Junsang Lee, Australian National University
11:00 AM
Break
11:15 AM
Session 2: Goods Market Frictions and Real Exchange Rate Puzzles
Qing Liu, Tsinghua University
12:15 PM
Lunch
1:00 PM
Session 3: Competing Fiat Currencies and Debt Enforcement
Mariana Rojas Breu, University of Basel and University of Paris
2:00 PM
Session 4: Asset Liquidity and Equity Home Bias
Thanasis Geromichalos, University of California-Davis
Ina Simonovska, University of California-Davis
3:00 PM
Break
3:30 PM
Session 5: Dollar Illiquidity and Central Bank Facilities during U.S. Subprime Crisis
Andrew Rose, University of California-Berkeley
Mark Spiegel, Federal Reserve Bank of San Francisco
4:30 PM
Session 6: Liquidity and Bank Capital Requirements
Hajime Tomura, Bank of Canada
Tuesday, 08/17/10
8:30 AM
Session 1: Money, Financial Stability and Efficiency
Franklin Allen, University of Pennsylvania
Douglas Gale, New York University
Elena Carletti, European University Institute
9:30 AM
Session 2: Optimal Liquidity Policy
Jennifer Haung, University of Texas
Jiang Wang, Massachusetts Institute of Technology
10:30 AM
Break
11:00 AM
Session 3: Trading Dynamics in Decentralized Markets with Adverse Selection
Braz Camargo, University of Western Ontario
Ben Lester, University of Western Ontario
12:00 PM
Session 4: Liquidity, Financial Intermediation and Monetary Policy in a New Monetarist Model
Steve Williamson, Washington University in St. Louis
Wednesday, 08/18/10
10:00 AM
Session 1: Endogenous Credit Cycles
Chao Gu, University of Missouri
Randy Wright, University of Wisconsin
11:00 AM
Break
11:15 AM
Session 2: Liquidity, Asset Prices and Credit Constraints
Ying-Syuan Li, National Taiwan University
Yiting Li, National Taiwan University
12:15 PM
Lunch
1:00 PM
Session 3: Inflation and Price Competition
Borghan Narajabad, Rice University
2:00 PM
Session 4: Mechanism Design and Commodity Money
Richard Dutu, Deakin University
Ching-jen Sun, Deakin University
3:00 PM
Break
3:30 PM
Session 5: Optimal Monetary Policy — Distribution Efficiency versus Production Efficiency
Haitao Xiang, Simon Fraser University
3:30 PM
Last Updated: 08/03/2010
