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CSEF - Center for Studies in Economics and Finance

22 June 2015 – 22 June 2015
2nd Conference on “Bank performance, financial stability and the real economy”​

The 2nd Conference on “Bank performance, financial stability and the real economy” is held at the Mario Cacace Multimedia Center - Via Giuseppe Orlandi 100, Anacapri.

Program

Monday, 22 June 2015

Venue: Mario Cacace Multimedia Center - Via Giuseppe Orlandi 100, Anacapri

8.30 - 8.45: Registration

Welcome address

8.45 – 9.00 Andrea Maffezzoni (Unicredit, Head of Planning, Strategy and Capital Management and board member of the Unicredit & Universities Foundation)
Marco Pagano (University of Naples Federico II, CSEF and EIEF)

Morning Session 1: Banking Regulation

Chair: Tommaso Oliviero (CSEF)

09.00 – 09.50 Jean-Edouard Colliard (HEC Paris)
“Optimal Supervisory Architecture and Financial Integration in a Banking Union”
Discussant : Alireza Tahbaz-Salehi (Columbia University)

09.50 – 10.40 Marco Di Maggio (Columbia University)
“Deregulation, Competition and the Race to the Bottom” (joint with A. Kermani)
Discussant : Andrea Polo (Pompeu Fabra University)

10.40 – 11.00 Coffee break

Morning Session 2: Real Effects of Financing Constraints

Chair : Marco Pagano (University of Naples Federico II, CSEF and EIEF)

11.00 – 11.50 Alexander Popov (European Central Bank)
“Financing constraints, employment, and labor compensation: Evidence from the subprime mortgage crisis” (joint with J. Rocholl)
Discussant: Martin Schmalz (University of Michigan)

11.50 – 12.40 José M. Liberti (DePaul University)
“When Do Laws and Institutions Affect Recovery Rates on Collateral?” (joint with H. Degryse, V. Ioannidou and J. Sturgess)
Discussant: Emilia Bonaccorsi di Patti (Bank of Italy)

12.40 – 13.40 Lunch

Afternoon Session 1: Financial Stability 1

Chair : Saverio Simonelli (University of Naples Federico II and CSEF)

13.40 – 14.30 Björn Imbierowicz (Goethe University Frankfurt)
“Does Lack of Financial Stability Impair the Transmission of Monetary Policy?” (joint with V. Acharya, S. Steffen and D. Teichmann)
Discussant: Alberto Zazzaro (Polytechnic University of Marche)

14.30 – 15.20 Frederic Boissay (European Central Bank)
“Inside and Outside Collateral: Implications for Financial Market Instability” (joint with R. Cooper)
Discussant: Elena Carletti (Bocconi University)

15.20 – 15.40 Coffee break

Afternoon Session 2: Financial Stability 2

Chair :Anna Maria Menichini (University of Salerno and CSEF)

15.40 – 16.30 John Chi-Fong Kuong (INSEAD)
“Self-fulfilling Fire Sales: Fragility of Collateralised Short-term Debt Markets”
Discussant: Amir Kermani (University of California, Berkeley)

16.30 – 17.20 Boris Vallée (Harvard Business School)
“Call Me Maybe? The Effects of Exercising Contingent Capital”
Discussant: Andrew Ellul (Indiana University)

with the sponsorship of the Unicredit and Universities Foundation.