Conference on Financial Markets

April 25-26, 2024 UCLA Anderson

 

The UCLA Fink Center for Finance and the Finance area at the UCLA Anderson School of Management are delighted to host the fourth annual Conference on Financial Markets, April 25-26, 2024, in person at UCLA. The conference will feature high-quality academic research relating to financial markets and include participation from leading practitioners at the intersection of research and practice. 


Keynote Address:

David Scharfstein, Harvard Business School

Contact us: uclafink.conference@anderson.ucla.edu

2023 Conference Schedule

 
Session format: 30 minutes of presentation, 20 minutes of discussion, 10 minutes of Q&A

Day 1: April 27, 2023

12:00 – 1:00 p.m.
Welcome Lunch
1:00 – 2:00 p.m.

“Exorbitant Privilege Gained and Lost: Fiscal Implications”

Presented by Mindy Z. Xiaolan, University of Texas, Austin
Discussant: Jonathan E. Payne, Princeton University

  • Zefeng Chen, Peking University
  • Zhengyang Jiang, Kellogg School of Management
  • Hanno N. Lustig, Stanford Graduate School of Business
  • Stijn Van Nieuverburgh, Columbia University Graduate School of Business
2:00 – 2:15 p.m.
Break
2:15 – 3:15 p.m.

“Do the Voting Rights of Federal Reserve Bank Presidents Matter?”

Nancy Xu, Boston College

Presented by Vyacheslav Fos, Boston College Discussant: Gary Richardson, UC Irvine

3:15 – 3:30 p.m.
Break
3:30 – 4:30 p.m.
“Liquidity Dependence: Why Shrinking Central Bank Balance Sheets Is an Uphill Task”
  • Rahul S. Chauhan, University of Chicago Booth School of Business
  • Raghuram Rajan, University of Chicago Booth School of Business
  • Sascha Steffen, Frankfurt School of Finance & Management

Presented by Viral V. Acharya, NYU Stern School of Business
Discussant: Allen Berger, University of South Carolina

4:30 – 4:45 p.m.
Break
4:45 – 6:00 p.m.

Keynote Address

Darrell Duffie, Stanford Graduate School of Business

6:00 – 7:00 p.m.
Reception

Day 2: April 28, 2023

8:00 – 9:00 a.m.

“Intermediary Balance Sheets and the Treasury Yield Curve”

Wenxin Du, University of Chicago
Benjamin Hebert, Stanford University

Presented by Wenhao Li, University of Southern California
Discussant: Dominik Supera, Columbia University Graduate School of Business

9:00 – 9:15 a.m.
Break
9:15 – 10:30 a.m.

Panel Discussion: Government Debt and Inflation

John Cochrane, Hoover Institution
Narayana Kocherlakota, University of Rochester

Moderated by Stavros Panageas, UCLA Anderson School of Management

10:30 – 10:45 a.m.
Break
10:45 – 11:45 a.m.

“Credit Crunches and the Great Stagflation”

Alexi Savov, NYU Stern School of Business
Philipp Schnabl, NYU Stern School of Business

Presented by Itamar Drechsler, University of Pennsylvania
Discussant: Matthew Baron, Cornell SC Johnson College of Business

11:45 a.m. – 12:00 p.m.
Break
12:00 – 1:00 p.m.

“The Central Bank Balance Sheet and the Treasury Market”

Quentin Vandeweyer, University of Chicago Booth School of Business

Presented by Adrien d'Avernas, Stockholm School of Economics
Discussant: William Diamond, University of Pennsylvania

1:00 p.m
Lunch
2:00 p.m
End of Conference
Past Conference Highlights
 

THURSDAY, APRIL 28

11:30 - 12:30 pm

Welcome Lunch

1:00 - 2:00 pm

"Do Employees Cheer for Private Equity? The Heterogeneous Effect of Buyouts on Jobs Quality"
Will Gornall, University of British Columbia
Oleg Gredil, Tulane University 
Sabrina T. Howell, New York University
Xing Liu, University of British Columbia

Presented by Will Gornall, University of British Columbia
Discussant: Richard Townsend, UC San Diego

2:15 - 3:15 pm

"Consumer Credit: Learning Your Customer's Default Risk from What (S)he Buys"
Annette Vissing-Jorgensen, UC Berkeley

Presented by Annette Vissing-Jorgensen, UC Berkeley
Discussant: Pascal Noel, University of Chicago

3:30 - 4:30 pm

"Digital Collateral"
Paul J. Gertler, UC Berkeley
Brett Green, Washington University in St. Louis
Catherine D. Wolfram, UC Berkeley

Presented by Brett Green, Washington University in St. Louis
Discussant: Konstantin Milbradt, Northwestern University

4:45 - 6:00 pm

KEYNOTE ADDRESS:

Markus Brunnermeier, Princeton University

6:00 pm

Reception

FRIDAY, APRIL 29

7:00 - 8:00 am

Breakfast

8:00 - 9:00 am

"Financial Inclusion Across the United States"
Motohiro Yogo, Princeton University
Andrew Whitten, US Department of the Treasury
Natalie Cox, Princeton University

Presented by Motohiro Yogo, Princeton University
Discussant: Alice Volz, Principal Economist, Federal Reserve Bank

9:15 - 10:30 am

Panel Discussion: Central Bank Digital Currency
David Andolfatto, Senior Vice President, Federal Reserve Bank
David Mills, Associate Director, Federal Reserve Bank
David Yermack, New York University

In a private conversation moderated by Andrea Eisfeldt, UCLA

10:45 - 11:45 am

"Segmented Arbitrage"
Emil Siriwardane, Harvard University
Aditya Sunderam, Harvard University
Jonathan Wallen, Harvard University

Presented by Jonathan Wallen, Harvard University
Discussant: Arvind Krishnamurthy, Stanford University

12:00 - 1:00 pm

"Hidden Alpha"
Manuel Ammann, University of St. Gallen
Lauren Cohen, Harvard University
Stephan Heller, Harvard University and University of St. Gallen

Presented by Lauren Cohen, Harvard University
Discussant: Scott E. Yonker, Cornell University

1:00 pm

Lunch

FRIDAY, APRIL 23, 2021

10:00 am – 10:05 am

Welcome

10:05 – 10:45 am

Duration-Based Stock Valuation: Reassessing Stock Market Performance and Volatility

Jules Van Binsbergen, University of Pennsylvania

Presented by Jules Van Binsbergen, University of Pennsylvania

Discussant: Greg Duffee, Johns Hopkins University

10:45 – 11:25 am

Capital Commitment

Elise Gourier, ESSEC Business School
Ludovic Phalippou, Oxford University
Mark M. Westerfield, University of Washington

Presented by Ludovic Phalippou, Oxford University

Discussant: Giorgia Piacentino, Columbia University

11:25 – 11:40 am

Break

11:40 – 12:20 pm

Necessary Evidence for a Risk Factor's Relevance

Alexander M. Chinco, University of Chicago
Samuel M. Hartzmark, University of Chicago
Abigail Sussman, University of Chicago

Presented by Samuel M. Hartzmark, University of Chicago

Discussant: Harrison Hong, Columbia University

12:20 – 1:00 pm

Model Complexity, Expectations, and Asset Prices

Pooya Molavi, Northwestern University
Alireza Tahbaz-Salehi, Northwestern University
Andrea Vedolin, Boston University

Presented by Andrea Vedolin, Boston University
Discussant: Lars Peter Hansen, University of Chicago

1:00 – 1:15 pm

Break

1:15 – 1:55 pm

How Green is Unconventional Monetary Policy

Melina Papoutsi, European Central Bank
Monika Piazzesi, Stanford University
Martin Schneider, Stanford University

Presented by Monika Piazzesi, Stanford University
Discussant: Motohiro Yogo, Princeton University

1:55 – 2:30 pm

Virtual Final Reception

Keynote Address

John Y. Campbell
Harvard University

Keynote Discussion

Larry Fink
BlackRock

David G. Booth
Dimensional

TUESDAY, MAY 14, 2019

11:45 am – 12:45 pm

Lunch

12:45 – 2:00 pm

KEYNOTE DISCUSSION


Larry D. Fink, Chairman and CEO, BlackRock

David G. Booth, Founder and Executive Chairman, Dimensional

In a private conversation moderated by Andrea Eisfeldt, UCLA

2:15 – 3:15 pm

Conditional Dynamics and the Multi-horizon Risk-return Trade-off

Mikhail Chernov, UCLA
Lars Lochstoer, UCLA
Stig R. H. Lundeby, Norwegian School of Economics

Presented by  Lars Lochstoer, UCLA
Discussant:  Jonathan Lewellen, Dartmouth College

3:30 – 4:30 pm

Understanding Global Equity Valuations

Ralph Koijen, University of Chicago
Robert J. Richmond, New York University
Motohiro Yogo, Princeton University

Presented by  Robert J. Richmond, New York University
Discussant:  Carolin Pflueger, University of Chicago

4:45 – 6:00 pm

KEYNOTE ADDRESS

John Y. Campbell, Harvard University

6:00 – 7:00 pm

Reception

WEDNESDAY, MAY 15, 2019

8:00 – 8:15 am

Breakfast

8:15 – 9:15 am

The Impact of Pensions and Insurance on Global Yield Curves

Robin Greenwood, Harvard University
Annette Vissing-Jorgensen, UC Berkeley

Presented by  Annette Vissing-Jorgensen, UC Berkeley
Discussant:  Hanno Lustig, Stanford University

9:30 – 10:30 am

Active and Passive Investing

Nicolae B. Gârleanu, UC Berkeley
Lasse H. Pedersen, New York University

Presented by  Nicolae B. Gârleanu, UC Berkeley
Discussant:  Jonathan Berk, Stanford University

10:45 – 11:45 am

Blockchain Economics

Joseph Abadi, Princeton University
Markus K. Brunnermeier, Princeton University

Presented by  Markus K. Brunnermeier, Princeton University
Discussant:  Leonid Kogan, MIT

12:00 – 1:00 pm

Money Market Fund Reform and Arbitrage Capital

Alyssa Anderson, Board of Governors of the Federal Reserve System
Wenxin Du, University of Chicago
Bernd Schlusche, Board of Governors of the Federal Reserve System

Presented by  Wenxin Du, University of Chicago
Discussant:  Alan Moreira, University of Rochester

1:00 pm

Lunch

View photos from the 2019 Conference on Financial Markets

ucla anderson fink center conference on financial markets 2019