Workshop Programme and Papers

WORKSHOP ON CORPORATE FINANCING AND EUROPEAN INVESTMENT FINANCING

CEPR- ASSONIME

Said Business School, University of Oxford

27th March, 2015

Programme (pdf)

26 MARCH

Jesus College, Turl Street (Mansell Room)

19.00

Conference Dinner (by invitation only)

27 MARCH

Saïd Business School, Lecture Theatre 8 (West Wing, 1st Floor)

08.00-08.30

Coffee and Registration

08.30-09.00

Introduction to RELTIF programme and workshop

Session 1
Chair:

Monetary Policy, Market Freezes and Access to Finance
Colin Mayer (Saïd Business School, Oxford University and CEPR)

09.00-09.45
 

Sovereign Stress, Non-conventional Monetary Policy, and SME Access to Finance
Annalisa Fernando (ECB), *Alex Popov (ECB) and Gregory Udell (Indiana University)

Discussant:

José Luis Peydrò (Universitat Pompeu Fabra and CEPR)​

09.45-10.30

 

Global Financial Crisis and Foreign Currency Borrowing
*Philippe Bacchetta (Université de Lausanne and CEPR) and Ouarda Merrouche (University of Lausanne and CEPR)

Discussant:

Clemens Otto (HEC, Paris)​

10.30-11.00

Coffee Break

Session 2
Chair:

Collateral, Relationships and Access to Finance
Andrea Polo (Universitat Pompeu Fabra and Barcelona GSE)

11.00-11.45

 

Housing Collateral and Entrepreneurship
Martin C. Schmalz (University of Michigan), David A. Sraer (UC Berkeley and CEPR) and *David Thesmar (HEC Paris and CEPR)

Discussant:

Thomas Hellmann (Saïd Business School, Oxford University)

11.45-12.30

 

How Collateral Laws Shape Lending and Sectoral Activity
Charles W. Calomiris (Columbia University), *Mauricio Larrain (Columbia Business School), José Liberti (DePaul University) and Jason Sturgess (DePaul University)

Discussant:

Paolo Volpin (Cass Business School and CEPR)

12.30-14.00

Lunch

14.00-14.45

 

When Arm’s Length is Too Far. Relationship Banking over the Credit Cycle
*Thorsten Beck (Tilburg University, Cass Business School and CEPR), Hans Degryse (Catholic University of Leuven, European Banking Center and CEPR), Ralph de Haas (EBRD) and Neeltje van Horen (De Nederlandsche bank)

Discussant:

Nicolas Serrano Velarde (Università Bocconi)

Session 3
Chair:

Real Effects of the Sovereign Debt Crisis
Marco Pagano (Università di Napoli Federico II, EIEF and CEPR)

14.45-15.30

 

Debt Overhang in Europe: Evidence from Firm-Bank-Sovereign Linkages
Sebnem Kalemli-Özcan (University of Maryland and CEPR) *Luc Laeven (ECB and CEPR) and David Moreno (University of Maryland)

Discussant:

Enrique Schroth (Cass Business School)

15.30-15.45

Coffee Break

15.45-16.30

 

Real Effects of the Sovereign Debt Crisis in Europe: Evidence from Syndicated Loans
Viral V. Acharya, *Tim Eisert (Erasmus University Rotterdam), Christian Eufinger (IESE Business School) and Christian Hirsch (Goethe University Frankfurt)

 

Discussant:

Vasso Ioannidou (Lancaster University and CEPR)​

16.30-17.15

 

When Credit Dries Up: Job Losses in the Great Recession
*Samuel Bentolila (CEMFI and CEPR), Marcel Jansen (Universidad Autónoma de Madrid), Gabriel Jiménez (Banco de España, Madrid) and Sonia Ruano (Banco de España, Madrid)

 

Discussant:

José Liberti (DePaul University)​

17.15-17.30

Concluding Remarks and Summing Up

*Indicates the presenter. Each paper presentation will be 20 minutes long, followed by 10 minutes for the discussant and 15 minutes for general discussion.

Organisers:

Colin Mayer (Saïd Business School, Oxford University and CEPR)
Marco Pagano (Università di Napoli Federico II, EIEF and CEPR)
Andrea Polo (Universitat Pompeu Fabra and Barcelona GSE)