Finance Workshop


Mary Ellen Krejci,


Tuesday, 1:20-2:50p.m. unless otherwise noted.


Harper Center Room 03

For information concerning this workshop, please contact Mary Ellen Krejci, 773.702.5530.


Spring 2017

Date Topic Speaker, Institution
Tuesday, March 28 "The Relevance of Broker Networks for Information Diffusion in the Stock Market" Amir Kermani, UC Berkeley Haas
Tuesday, April 4 "State Taxation and the Reallocation of Business Activity: Evidence from Establishment-Level Data" Xavier Giroud, MIT Sloan
Tuesday, April 11 "Leverage- and Cash-Based Tests of Risk and Reward With Improved Identification" Ivo Welch, UCLA Anderson
Tuesday, April 18 "The Dark Side of Circuit Breakers" Hui Chen, MIT Sloan
Tuesday, April 25 "Locked in by Leverage: Job Search during the Housing Crisis" David Matsa, Northwestern Kellogg
Tuesday, May 2 "Asset Pricing with Endogenously Uninsurable Tail Risks" Anmol Bhandari, University of Minnesota
Tuesday, May 9 "Risk, Unemployment, and the Stock Market: A Rare-Event-Based Explanation of Labor Market Volatility" Jessica Wachter, Wharton
Tuesday, May 16 "What Drives Differences in Management?" Nicholas Bloom, Stanford University
Tuesday, May 23 "Directed attention and nonparametric learning" Ian Dew-Becker, Northwestern Kellogg
Tuesday, May 30 "Lazy Prices" Lauren Cohen, Harvard Business School
Tuesday, June 6 "Profit and Loss Sharing in the IPO Market" David Musto, Wharton

Winter 2017

Date Topic Speaker, Institution
Tuesday, January 3 "What Information Drives Asset Prices?" George Constantinides, Chicago Booth
Tuesday, January 10 "Safe Assets, Collateralized Lending and Monetary Policy" Moritz Lenel, Stanford University
Tuesday, January 17 “When Harry Fired Sally: Gender Discrimination among Financial Advisers” Gregor Matvos, Chicago Booth
Tuesday, January 24 "Political Cycles and Stock Returns" Lubos Pastor & Pietro Veronesi, Chicago Booth
Tuesday, January 31 Do Institutional Incentives Distort Asset Prices? Anton Lines, London Business School
Tuesday, February 7 "Core-Periphery Trading Networks" Chaojun Wang, Stanford University
Tuesday, February 14 "Pricing, Selection, and Welfare in the Student Loan Market: Evidence from Borrower Repayment Decisions" Natalie Cox, University of California, Berkeley
Tuesday, February 21 TBD Bryan Kelly, Chicago Booth
Tuesday, February 28 "Efficiently Inefficient Markets for Assets and Asset Management" Lasse Heje Pedersen, Copenhagen Business School and NYU Stern
Tuesday, March 7 "Monetary Policy and the Stock Market: Time Series Evidence" Michael Weber, Chicago Booth

Autumn 2016

Date Topic Speaker, Institution
Tuesday, September 20 "Attention Grabbers when Seeking Alpha" Tarik Umar, PhD Student, Chicago Booth
Tuesday, September 27 "The Empirical Distribution of Allocative Distortions" Simone Lenzu, PhD Student, University of Chicago
Tuesday, October 4 "Habits and Leverage" Tano Santos, Columbia Business School and Becker Friedman Institute Visiting Scholar
Tuesday, October 11 "Declining Labor and Capital Shares" Simcha Barkai, PhD Student, Chicago Booth
Tuesday, October 18 "Recovery Dynamics: An Explanation from Bank Screening and Entrepreneur Entry" Yunzhi Hu, PhD Student, Chicago Booth
Tuesday, October 25 "A Macroeconomic Model with Financially Constrained Producers and Intermediaries" Stijn Van Nieuwerburgh, NYU Stern
Tuesday, November 1 "Search in Credit Markets" Gregor Matvos, Chicago Booth
Tuesday, November 8 "The Making of Hawks and Doves: Inflation Experiences and Voting on the FOMC" Stefan Nagel, Michigan Ross
Tuesday, November 15 "Deviations from Covered Interest Rate Parity" Adrien Verdelhan, MIT Sloan
Tuesday, November 22 "Aggregate and Idiosyncratic Political Risk: Measurement and Effects" Tarek Hassan, Chicago Booth
Tuesday, November 29 "Bubbles for Fama" Andrei Shleifer, Harvard University
Tuesday, December 6 "How Do Venture Capitalists Make Decisions?" Steven Kaplan, Chicago Booth

Spring 2016

Date Topic Speaker, Institution
Tuesday, March 29 "Inflation Dynamics During the Financial Crisis" Raphael Schoenle, Brandeis University
Tuesday, April 5 “Quantitative Easing and Portfolio Rebalancing: Evidence from Asset Holdings Data in the Euro Area” Ralph Koijen, London Business School and Becker Friedman Institute Visiting Scholar
Tuesday, April 12 "Intermediary Asset Pricing: New Evidence from Many Asset Classes" Zhiguo He, Chicago Booth
Tuesday, April 19 “Financial cycles with heterogeneous intermediaries" Helene Rey, London Business School
Tuesday, April 26 "Absolving Beta of Volatility’s Effects" Robert Stambaugh, Wharton School of the University of Pennsylvania
Tuesday, May 3 "Fracking, Drilling, and Asset Pricing: Estimating the Economic Benefits of the Shale Revolution" Nikolai Roussanov, Wharton School of the University of Pennsylvania
Tuesday, May 10 "Rise of ETFs: Informational Efficiency and Smart Betas" Lin William Cong, Chicago Booth
Tuesday, May 17 What’s in a (school) name?  Racial discrimination in higher education bond markets”   Christopher Parsons, UC San Diego
Tuesday, May 24 "Debt into Growth: How Sovereign Debt Accelerated The First Industrial Revolution" Hans-Joachim Voth, University of Zurich
Tuesday, May 31 "Anomalies and News" Joseph Engelberg, UC San Diego
Tuesday, June 7 "Bank Quality, Judicial Efficiency and Borrower Runs: Loan Repayment Delays in Italy" Philip Strahan, Boston College

Winter 2016

Date Topic Speaker, Institution
Tuesday, January 12 "The Job Rating Game: The Effects of Revolving Doors on Analyst Incentives" Elisabeth Kempf, Tilburg University, CentER Graduate School
Tuesday, January 19 "Corporate Debt Markets and Recovery Rates with Vulture Investors" Ryan Lewis, London Business School
Tuesday, January 26 "The Marginal Propensity to Consume Out of Liquidity: Evidence from Random Assignment of 54,522 Credit Lines" Deniz Aydin, Stanford University
Tuesday, February 2 "A Dynamic Theory of Mutual Fund Runs and Liquidity Management" Yao Zeng, Harvard University
Tuesday, February 9 "Embrace or Fear Uncertainty: Growth Options, Limited Risk Sharing, and Asset Prices" Winston Dou, MIT Sloan School of Management
Tuesday, February 16 "Catering Innovation: Entrepreneurship and the Acquisition Market" Xinxin Wang, UC Berkeley, Haas School of Business
Tuesday, February 23 "Volatility Managed Portfolios" Tyler Muir, Yale School of Management
Tuesday, March 1 "Monetary Policy Through Production Networks: Evidence from the Stock Market" Michael Weber, Chicago Booth
Tuesday, March 8 "The Political Economy of Financial Innovation: Evidence from Local Governments" Boris Vallee, Harvard Business School
Tuesday, March 15 "Excess Volatility: Beyond Discount Rates" Bryan Kelly, Chicago Booth

Autumn 2015

Date Topic Speaker, Institution
Tuesday, September 29 "Liquidity Sharing and Financial Contagion" John Nash, PhD Student, Chicago Booth
Tuesday, October 6 "Financial Exaggeration and the (Mis)Allocation of Scarce Resources" Bruce Carlin, UCLA Anderson School of Management
Tuesday, October 13 "Do Financial Factors Drive Aggregate Productivity? Evidence from Indian Manufacturing Establishments" Aaron Pancost, PhD Student, Chicago Booth
Tuesday, October 20 "Do Director Elections Matter?" Margarita Tsoutsoura, Chicago Booth
Tuesday, October 27 "Investor Psychology and Credit Cycles" Nicola Gennaioli, Bocconi University
Tuesday, November 3 "Market for broker misconduct" Gregor Matvos, Chicago Booth
Tuesday, November 10 "Runs on Money Market Mutual Funds" Lawrence D. W. Schmidt, University of Chicago
Tuesday, November 17 "Currency Manipulation" Tarek Hassan, Chicago Booth
Tuesday, November 24 "Consistent Good News and Inconsistent Bad News" Kelly Shue, Chicago Booth
Tuesday, December 1 "Aggregate Bank Capital and Credit Dynamics" Jean Charles Rochet, University of Zurich
Tuesday, December 8 "Costly financial advice: Conflicts of interest or misguided beliefs?" Juhani Linnainmaa, Chicago Booth

Spring 2015

Date Topic Speaker, Institution
Tuesday, March 31 "Being Surprised by the Unsurprising: Earnings Seasonality and Stock Returns" Samuel Hartzmark, Chicago Booth
Tuesday, April 7 "Financial Accelerator at Work: Evidence from Corn Fields" Rajkamal Iyer, MIT Sloan
Tuesday, April 14 "Informational Black Holes in Auctions" Ulf Axelson, London School of Economics
Tuesday, April 21 "What is the Expected Return on the Market?" Ian Martin, London School of Economics
Tuesday, April 28 NO SEMINAR  
Tuesday, May 5 "A Model of Financialization of Commodities" Suleyman Basak, London Business School
Tuesday, May 12 "Inattention and Inertia in Household Finance: Evidence from the Danish Mortgage Market" John Campbell, Harvard University
Tuesday, May 19 Credit-Market Sentiment and the Business Cycle Jeremy Stein, Harvard University
Tuesday, May 26 "Can Unemployment Insurance Spur Entrepreneurial Activity? Evidence From France" David Thesmar, HEC Paris
Tuesday, June 2 "Microeconomic Origins of Macroeconomic Tail Risks" Daron Acemoglu, MIT
Tuesday, June 9 "Pledgeability, Industry Liquidity, and Financing Cycles" Douglas Diamond, Chicago Booth

Winter 2015

Date Topic Speaker, Institution
Tuesday, January 6 "Do Funds Make More When They Pay More?" Lubos Pastor, Chicago Booth
Tuesday, January 13 "An Equilibrium Model of Institutional Demand and Asset Prices" Motohiro Yogo, Federal Reserve Bank of Minneapolis
Tuesday, January 20 "Debtor Protections and the Great Recession" Paul Goldsmith-Pinkham, Harvard University
Tuesday, January 27 "Financing Constraints as Barriers to Innovation: Evidence from R&D Grants to Energy Startups" Sabrina Howell, Harvard University
Tuesday, February 3 "Networks in Production: Asset Pricing Implications" Bernard Herskovic, NYU, Department of Economics
Tuesday, February 10 "Homeowner Borrowing and Housing Collateral: New Evidence from Expiring Price Controls" Anthony DeFusco, Wharton, University of Pennsylvania
Tuesday, February 17 "Search, Liquidity, and Retention: Signaling Multidimensional Private Information" Basil Williams, Duke University, Fuqua School of Business
Tuesday, February 24 "Intangible capital and the investment-q relation" Luke Taylor, Wharton School of the University of Pennsylvania
Tuesday, March 3 "Impediments to Financial Trade: Theory and Measurement" Stavros Panageas, Chicago Booth
Tuesday, March 10 "BKK the EZ Way: International Long-Run Growth News and Capital Flows" Max Croce, University of North Carolina at Chapel Hill, Kenan-Flagler Business School

Autumn 2014

Date Topic Speaker, Institution
Thursday, September 25 *TIME: 11:45 am-1:15 pm "Dispersed Information and CEO Incentives" Jan Schneemeier, PhD Student, University of Chicago
Tuesday, September 30 "Early Refinancing and Maturity Management in the Corporate Bond Market" Qiping Xu, PhD Student, Chicago Booth
Tuesday, October 7 "Information Asymmetry and Insider Trading" Wei Wu, PhD Student, Chicago Booth
Tuesday, October 14 NO SEMINAR  
Tuesday, October 21 "Moral Hazard and Debt Maturity" Rafael Repullo, CEMFI
Tuesday, October 28

"Political Interference on Firms: Effect of Elections on Bank Lending in India" Nitish Kumar, PhD Student, Chicago Booth
Tuesday, November 4 "Deposit Competition and Financial Fragility: Evidence from the US Banking Sector" Gregor Matvos, Chicago Booth
Tuesday, November 11 "Firm Age, Investment Opportunities, and Job Creation" Manuel Adelino, Duke
Tuesday, November 18 "Understanding Uncertainty Shocks and the Role of Black Swans" Laura Veldkamp, NYU Stern
Tuesday, November 25 "Out-of-the-Money CEOs: Private Control Premium and Option Exercises" Wei Jiang, Columbia
Tuesday, December 2 "Why Don’t Households Smooth Consumption? Evidence from a 25 million dollar experiment" Jonathan Parker, MIT
Tuesday, December 9 "Segmented Housing Search" Monika Piazzesi, Stanford

Spring 2014

Date Topic Speaker, Institution
April 1 "A Five-Factor Asset Pricing Model" Eugene Fama, Chicago Booth
April 8 "Capital and Labor Reallocation within Firms" Holger Mueller, NYU Stern
April 15 "The Real Effects of Credit Ratings: The Sovereign Rating Channel" Heitor Almeida, University of Illinois at Urbana-Champaign
April 22 "The Cost of Constraints: Risk Management, Agency Theory and Asset Prices" Myron Scholes, Stanford
April 29 "Measuring the "Dark Matter" in Asset Pricing Models" Leonid Kogan, MIT Sloan
May 6 "Loans on sale: Credit market seasonality, borrower need, and lender rent seeking" Mitchell Petersen, Northwestern Kellogg
May 13 "Assessing Asset Pricing Models using Revealed Preference" Jonathan Berk, Stanford
May 20 "Technological Innovation: Winners and Losers" Dimitris Papanikolaou, Northwestern Kellogg
May 27 "Do Strict Capital Requirements Raise the Cost of Capital? Bank Regulation and the Low Risk Anomaly" Malcolm Baker, Harvard
June 3 Origins of Stock Market Fluctuations Martin Lettau, Berkeley Haas

Winter 2014

Date Topic Speaker, Institution
January 14 "Nominal Rigidities and Asset Pricing" Michael Weber, Haas School of Business, UC Berkeley
January 21 "Arrested Development: Theory and Evidence of Supply-Side Speculation in the Housing Market" Charles Nathanson, Harvard
January 28 “Do Financial Frictions Amplify Fiscal Policy? Evidence from Business Investment Stimulus" Eric Zwick, Harvard
February 4 "Optimal Dynamic Contracts in Financial Intermediation: With an Application to Venture Capital Financing" Igor Salitskiy, Stanford
February 11 "Auctions of Real Options" Lin Willliam Cong, Stanford
February 18 "Scale and Skill in Active Management" Lubos Pastor, Chicago Booth
February 25 "Cash on Hand" and Consumption: Evidence from Mortgage Refinancing" Amir Sufi, Chicago Booth
March 4 "How does macroprudential regulation change bank credit supply?" Anil Kashyap, Chicago Booth
March 11 "Very Long-Run Discount Rates", Appendix Stefano Giglio, Chicago Booth

Autumn 2013

Date Topic Speaker, Institution
October 1 "Informational Frictions and Commodity Markets" Wei Xiong, Princeton
October 8 "X-CAPM: An Extrapolative Capital Asset Pricing Model" Nicholas Barberis, Yale
October 15 "Intermediation and Voluntary Exposure to Counterparty Risk" Maryam Farboodi, PhD Student, Chicago Booth
October 22 "As Certain as Debt and Taxes" Alexander Ljungqvist, NYU Stern
October 29 "Playing Favorites: How Firms Prevent the Revelation of Bad News" Lauren Cohen, Harvard
November 5 "Financial Entanglement: A Theory of Incomplete Integration, Leverage, Crashes, and Contagion"
Stavros Panageas, Chicago Booth
November 12 "International Liquidity and Exchange Rate Dynamics" Xavier Gabaix, NYU Stern
November 19 "Learning from Inflation Experiences" Stefan Nagel, Michigan Ross
November 26 "Valuation Risk and Asset Pricing" Martin Eichenbaum, Northwestern Kellogg
December 3 "Risking Other People's Money, Gambling, Limited Liability and Optimal Incentives" Peter DeMarzo, Stanford

Spring 2013

Date Topic Speaker, Institution
April 2 "Understanding the Advice of Commissions-Motivated Agents: Evidence from the Indian Life Insurance Market" Shawn Cole, Harvard
April 9 Too-Systemic-To-Fail: What Option Markets Imply About Sector-wide Government Guarantees Bryan Kelly, Chicago Booth
April 16 "Long Run Capital Structure"
Michael Roberts, Wharton
April 23 "Asset pricing in the frequency domain:theory and empirics" Stefano Giglio, Chicago Booth
April 30 "Intermediary Leverage Cycles and Financial Stability" Tobias Adrian, New York FRB
May 7 "Quantifying Liquidity and Default Risks of Corporate Bonds over the Business Cycle" Zhiguo He, Chicago Booth
May 14 "Expected inflation and other determinants of Treasury yields" Greg Duffee, Johns Hopkins
May 28 "The Information and Agency Effects of Scores: Randomized Evidence from Credit Committees" Daniel Paravisini, London School of Economics
June 4 "Who Borrows from the Lender of Last Resort?" Philipp Schnabl, Stern

Winter 2013

Date Topic Speaker, Institution
January 8 "Did the Community Reinvestment Act Lead to Risky Lending?" Amit Seru, Chicago Booth
January 15 "Get in Line: Chapter 11 Restructuring in Crowded Bankruptcy Courts" Benjamin Iverson, Harvard
January 22 "The Value of a Good Credit Reputation: Evidence from Credit Card Renegotiations" Andres Liberman, Columbia
January 29 "Financial Crises, Risk Premia, and the Term Structure of Risky Assets" Tyler Muir, Kellogg
February 5 "Market Turmoil and Destabilizing Speculation" Marco DiMaggio, MIT
February 12 "Financial Strength and Trade Credit Provision : Evidence from Trucking Firms" Jean Noel Barrot, HEC Paris
February 19 "Uncertainty Shocks and Balance Sheet Recessions" Sebastian DiTella, MIT
February 26 "Financing Through Asset Sales" Alex Edmans, Wharton
March 5 "Money Creation and the Shadow Banking System" Adi Sunderam, Harvard
March 12 "Does Going Public Affect Innovation?" Shai Bernstein, Stanford

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