Third European Workshop on Household Finance

Third European Workshop on Household Finance - Programme

              170 Queens Gate, South Kensington, London 

Friday 11th May 2018

08:30 - 09:00 Coffee on arrival and Registration

09:00 - 09:20 Welcome and Opening Remarks by Francisco Veloso (Dean at Imperial College) and Michael Haliassos (Goethe University Frankfurt and CEPR)

Session 1 - Chair: Francisco Gomes (London Business School and CEPR)

09:20 - 10:10 Why Does Portfolio Choice Correlate across Generations?Samuli Knüpfer (BI Norwegian Business School and IFN), Elias Rantapuska (Aalto University) and Matti Sarvimäki (Aalto University and VATT)

Discussant: Paolo Sodini (Stockholm School of Economics)

10:10 - 11:00 Peer effects in stock market participation: Evidence from immigrationAnastasia Girshina (Swedish House of Finance at Stockholm School of Economics), Thomas Y. Mathä (Banque centrale du Luxembourg) and Michael Ziegelmeyer (Banque centrale du Luxembourg)

Discussant: Hector Calvo-Pardo (University of Southampton)

11:00 - 11:20 Coffee Break

Session 2 - Chair: Joao Cocco (London Business School and CEPR)

11:20 - 12:10 Investment Opportunities and Economic Mobility: Who Benefits From College and the Stock Market? (Presentation) - Kartik Athreya (FRB Richmond), Felicia Ionescu (Federal Reserve Board), Urvi Neelakantan (FRB Richmond) and Ivan Vidangos (Federal Reserve Board)

Discussant: Monica Paiella (University of Naples)

12:10 - 13:00 Are Mortgage Regulations Affecting Entrepreneurship? (Presentation) - Stephanie Johnson (Northwestern University)

Discussant: Antoinette Schoar (Massachusetts Institute of Technology and CEPR)

13:00 - 14:10 Lunch

Session 3 - Chair: Tarun Ramadorai (Imperial College and CEPR)

14:10 - 15:00 Countercyclical Risks and Portfolio Choice over the Life Cycle (Presentation)- Jialu Shen (Imperial College London) 

Discussant: Michael Haliassos (Goethe University Frankfurt and CEPR)

15:00 - 15:50 Financial Innovation and Asset PricesRaman Uppal (EDHEC Business School and CEPR), Adrian Buss (INSEAD and CEPR) and Grigory Vilkov (Frankfurt School of Finance & Management) 

Discussant: Christian Heyerdahl-Larsen (London Business School)

15:50 - 16:10 Coffee Break

Session 4 - Chair: Alex Michaelides (Imperial College and CEPR)

16:10 - 17:00 Predictably Unequal? The Effects of Machine Learning on Credit MarketsAnsgar Walther (Warwick Business School), Andreas Fuster (Federal Reserve Bank of New York), Paul Goldsmith-Pinkham (Federal Reserve Bank of New York) and Tarun Ramadorai (Imperial College and CEPR)

Discussant: Daniel Paravisini (London School of Economics and CEPR)

17:00 - 17:50 Long-Term Care Needs: Implications for Savings, Welfare, and Public Policy (Presentation) - Jesus Bueren (CEMFI) 

Discussant: Tullio Jappelli (Università di Napoli Federico II and CEPR)

17:50 Closing Remarks

19:00 Dinner at Radisson Blu Edwardian Vanderbilt

Saturday 12th May 2018

09:15 - 09:45 Coffee on arrival

Session 5 - Chair: Giovanna Nicodano (Università di Torino)

09:45 - 10:35 Reconsidering Returns - Samuel Hartzmark (University of Chicago) and David H. Solomon (Boston College)

Discussant: Matti Keloharju (Aalto University and CEPR)

10:35 - 11:25 What Matters to Individual Investors? Evidence from the Horse’s Mouth (Presentation) - Adriana Robertson (University of Toronto) and James J. Choi (Yale University and NBER)

Discussant: Marcin Kacperczyk (Imperial College Business School and CEPR)

11:25 - 11:40 Coffee Break

11:40 - 12:30 Portfolio Choice and Asset Pricing with Investor Entry and Exit - George Korniotis (University of Miami), Yosef Bonaparte (University of Colorado Denver), Alok Kumar (University of Miami)

Discussant: Laurent Calvet (EDHEC Business School and CEPR)

12:30 - 13:30 Lunch

Session 6 - Chair: Michael Haliassos (Goethe University Frankfurt and CEPR)

13:30 - 14:20 Gender and Agency within the Household: Experimental Evidence from Pakistan (Presentation) - Uzma Afzal (University of Nottingham), Giovanna d’Adda (Milan Polytechnic), Marcel Fafchamps (Stanford University and CEPR) and Farah Said (Lahore School of Economics)

Discussant: Wenlan Qian (National University of Singapore)

14:20 -15:10 The Role of Trust in Online Lending (Presentation) - Christoph Bertsch (Sveriges Riksbank), Isaiah Hull (Sveriges Riksbank), Yingjie Qi (Stockholm School of Economics) and Xin Zhang (Sveriges Riksbank) 

Discussant: Luigi Guiso (Einaudi Institute for Economics and Finance and CEPR)

15:10 Closing Remark

Each presenter will have 25 mins for their presentation, each discussant will have 15 mins for the discussion and there will be 10 mins for general Q&A (only short clarifying questions are allowed during the presentation).

Local Organisers

Joao Cocco (London Business School and CEPR), Francisco Gomes (London Business School and CEPR), Alex Michaelides (Imperial College and CEPR), Tarun Ramadorai (Imperial College and CEPR)