May 10, 2012
Organizers
-
Harald Uhlig, The University of Chicago
- Guido Lorenzoni, Massachussetts Institute of Technology
The 2008 world wide financial crisis as well as the 2011 sovereign debt crisis in Europe highlighted the need to more deeply understand the precarious interaction between the financial sector and the economy as a whole. The BFI-INET conference "Macroeconomic Fragility" focused on macroeconomic fragility, systemic risk, financial-macro interactions and related topics. New research offering theoretical insights as well as empirical work towards the measurement of systemic risk was presented.
Sponsors
We gratefully acknowledge generous support for this event from:
- CME Group Foundation
- Institute for New Economic Thinking
Program
“The I-Theory of Money”
- Markus Brunnermeier (Princeton University)
- Discussant: Stavros Panageas (University of Chicago)
- Paper (.pdf) » | View Slides (.pdf) » | View Dicsussion Slides (.pdf) »
“Banking, Liquidity and Bank Runs in an Infinite Horizon Economy”
- Mark Gertler (New York University)
- Discussant: Douglas Diamond (University of Chicago)
- Paper (.pdf) » | View Slides (.pdf) » | View Dicsussion Slides (.pdf) »
“Speculation and Risk Sharing with New Financial Assets”
- Alp Simsek (Harvard University)
- Discussant: Lars Peter Hansen (University of Chicago)
- Paper (.pdf) » | View Slides (.pdf) » | View Dicsussion Slides (.pdf) »
“Welfare Analysis of Currency Regimes with Defaultable Debt”
- Aloisio Araujo (Getulio Vargas Foundation Graduate School of Economics)
- Discussant: Samuel Kortum (University of Chicago)
- Paper (.pdf) » | View Slides (.pdf) »
“Money, Financial Stability and Efficiency”
- Franklin Allen (University of Pennsylvania)
- Discussant: Luigi Zingales (University of Chicago)
- Paper (.pdf) » | View Slides (.pdf) » | View Dicsussion Slides (.pdf) »
“A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk”
- Viral Acharya (New York University)
- Discussant: Ralph Koijen (University of Chicago)
- Paper (.pdf) » | View Slides (.pdf) » | View Dicsussion Slides (.pdf) »
“Financial Intermediaries and the Cross-Section of Asset Returns”
- Tobias Adrian (Federal Reserve Bank of New York)
- Discussant: Pietro Veronesi (University of Chicago)
- Paper (.pdf) » | View Slides (.pdf) » | View Dicsussion Slides (.pdf) »
“Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007–9”
- Hyun Song Shin(Princeton University and CME)
- Discussant: Guido Lorenzoni (MIT)
- Paper (.pdf) » | Appendix (.pdf) » | View Slides (.pdf) » | View Dicsussion Slides (.pdf) »