PAPERS

WEEK 1

MONDAY 13 JULY

Forced Sales and House Prices
John Y. Campbell (Harvard University)
*Stefano Giglio (Harvard University)
Parag Pathak (MIT)

Ratings Shopping and Asset Complexity: A Theory of Ratings Inflation
Vasili Skreta (New York University)
*Laura Veldkamp (New York University and CEPR)

Do Financial Counseling Mandates Improve Mortgage Choice and Performance? Evidence from a Legislative Experiment
Sumit Agarwal (Federal Reserve Bank of Chicago)
Gene Amromin (Federal Reserve Bank of Chicago)
*Itzhak Ben-David (Ohio State University)
Souphala Chomsisengphet (Office of the Comptroller of the Currency)
Douglas D. Evanoff (Federal Reserve Bank of Chicago)

TUESDAY 14 JULY

Disasters Implied by Equity Index Options
David Backus (New York University)
*Mikhail Chernov (London Business School and CEPR)
Ian Martin (Stanford University)

Consumption Volatility Risk
Oliver Boguth (University of British Columbia)
*Lars-Alexander Kühn (Carnegie Mellon University)

The Empirical Likelihood of Tail-Sensitive Preferences
Christian Julliard (London School of Economics and CEPR)
Bryan Routledge (Carnegie Mellon University)
*Stanley E. Zin (Carnegie Mellon University/New York University)

WEDNESDAY 15 JULY

Are Stocks Really Less Volatile in the Long Run?
*Luboš Pástor (University of Chicago and CEPR)
Rob Stambaugh (University of Pennsylvania)

Labor Hiring, Investment and Stock Return Predictability in the Cross Section
Santiago Bazsdrech (University of Minnesota)
Frederico Belo (University of Minnesota)
*Xiaoji Lin (London School of Economics)

A Better Three-Factor Model That Explains More Anomalies
Long Chen (Washington University in St. Louis)
*Lu Zhang (University of Michigan)

THURSDAY 16 JULY

Leverage, Moral Hazard and Liquidity
Viral V. Acharya (New York University, London Business School and CEPR)
*S. Vish Viswanathan (Duke University)

Maturity Rat Race
Markus Brunnermeier (Princeton University and CEPR)
*Martin Oehmke (Columbia University)

Rollover Risk and Market Freezes
*Viral V Acharya (New York University, London Business School and CEPR)
Douglas Gale (New York University)
Tanju Yorulmazer (Federal Reserve Bank of New York)

FRIDAY 17 JULY

Efficient Estimation of Firm-Specific Betas and its Benefits for Asset Pricing Tests and Portfolio Choice
Rob Bauer (University of Maastricht)
Mathijs Cosemans (University of Maastricht)
Rik Frehen (University of Maastricht)
*Peter Schotman (University of Maastricht and CEPR)

'When There Is No Place to Hide': Correlation Risk and the Cross-Section of Hedge Fund Returns
Andrea Buraschi (Imperial College London)
*Robert Kosowski (Imperial College London)
Fabio Trojani (University of Lugano)

Incomplete-Market Equilibria Solved Recursively on an Event Tree
*Bernard Dumas (University of Lausanne, Swiss Finance Institute, and CEPR)
Andrew Lyasoff (Boston University)

WEEK 2

MONDAY 20 JULY

Liquidity Hoarding and Interbank Market Spreads: The Role of Counterparty Risk
*Florian Heider (European Central Bank)
Marie Hoerova (European Central Bank)
Cornelia Holthausen (European Central Bank)

The Impact of the U.S. Financial Crisis on Global Retail Lending
Manju Puri (Duke University)
*Jörg Rocholl (ESMT)
Sascha Steffen (Goethe University Frankfurt)

Efficient Recapitalization
Thomas Philippon (New York University)
*Philipp Schnabl (New York University)

TUESDAY 21 JULY

Collateral and Capital Structure
*Adriano Rampini (Duke University)
Vish Viswanathan (Duke University)

Dynamic Capital Structure, Investment and Tobin's Q
Christopher Hennessy (London Business School)

A United Theory of Tobin's q, Corporate Investment, Financing, and Risk Management
*Patrick Bolton (Columbia University and CEPR)
Hui Chen (MIT)Neng Wang (Columbia University)

WEDNESDAY 22 JULY

Intermediary Commissions and Kickbacks
*Roman Inderst (Goethe University Frankfurt)
Marco Ottaviani (Northwestern University)

Limits of Limits of arbitrage: Theory and evidence
*Johan Hombert (ENSAE and CREST)
David Thesmar (HEC Paris and CEPR)

Originator Performance, CMBS Structures, and Yield Spreads of Commercial Mortgages
Sheridan Titman (University of Texas)
*Sergey Tsyplakov (University of South Carolina)

THURSDAY 23 JULY

Have a Quiet Word? The Returns from Public and Private Shareholder Activism
Marco Becht (ECARES)
Julian Franks (London Business School)
*Jeremy Grant (London Business School)

The Relationship among U.S. Securities Laws, Cross-Listing Premia, and Trading Volumes
Katherine Litvak (University of Texas)

Endogeneity and the Dynamics of Corporate Governance
Jide Wintoki (University of Georgia)
*James Linck (University of Georgia)
Jeffry Netter (University of Georgia)

How Corporate Governance Affects Firm Value: Evidence on Channels from Korea
and
The Effect of Board Structure on Firm Value: A Multiple Identification Strategy Approach Using Korean Data
*Bernard Black (University of Texas, Austin)
Woochan Kim (KDI School of Public Policy and Management)
Hasung Jang (Korea University)
Kyung-Suh Park (Korea University)

FRIDAY 24 JULY

The Importance of Holdup in Contracting: Evidence from a Field Experiment
*Raj Iyer (University of Amsterdam)
Antoinette Schoar (MIT)

Default and Punishment: Incentives and Lending Behavior in Indian Banks
Abhijit Banerjee (MIT)
*Shawn Cole (Harvard Business School)
Esther Duflo (MIT)

The Distributive Impact of Reforms in Credit Enforcement: Evidence from Indian Debt Recovery Tribunalsä
*Ulf von Lilienfeld-Toal (Stockholm School of Economics)
Dilip Mookherjee (Boston University)
Sujata Visaria (Boston University)