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Conference on Financial Intermediation

01 Jul. 2011
The 4th Banco de Portugal Conference on Financial Intermediation will be held in Funchal (Madeira Island), July 1-2, 2011. The Conference aims at bringing together academics and practitioners to discuss the most recent research on systemic risk and financial regulation.

The Organizer Committee for the Conference is composed by António Antunes, Luísa Farinha and João Santos.

The Conference venue is the CS Madeira Atlantic Resort Hotel, located on the Southern coast of Madeira, an Island situated in the middle of the North Atlantic Ocean, some 310 miles from the African Coast and 620 miles from the Portuguese mainland, just one and a half hour’s flight from Lisbon.
Thursday, June 30
18.00 - 21.30 Dinner

Friday, July 1
09.45 - 10.00  Opening address   
Session 1: Regulating Banks' Liquidity
10.00 - 10.50 The Maturity Rat Race
Markus Brunnermeier (Princeton University)
Martin Oehmke (Columbia University)

Discussant: Konstantin Milbradt (MIT Sloan School of Management)
10.50 - 11.40 Rollover Risk and Credit Risk
Zhiguo He (University of Chicago)
Wei Xiong (Princeton University)

Discussant: Franklin Allen (University of Pennsylvania)
11.40 - 12.10 Coffee break
12.10 - 13.00 A Pigovian Approach to Liquidity Regulation
Enrico Perotti (University of Amsterdam)
Javier Suarez (CEMFI)

Discussant: Douglas Gale (New York University)
13.00 - 14.00 Lunch
Session 2: Bank Capital Regulation
14.00 - 14.50 Reputational Contagion and Optimal Regulatory Forbearance
Alan D. Morrison (University of Oxford)
Lucy White (Harvard Business School) Discussant: John H. Boyd (University of Minnesota)

14.50 - 15.40 A Macroeconomic Model of Endogenous System Risk Taking
David Martinez-Miera (Universidad Carlos III)
Javier Suarez (CEMFI)  

Discussant: Wolf Wagner (Tilburg University)
15.40 - 16.10 Coffee break
16.10 - 17.00 Liquidity Coinsurance and Bank Capital
Fabio Castiglionesi (Tilburg University)
Fabio Feriozzi (Tilburg University)
Gyöngyi Lóránth (University of Vienna)
Loriana Pelizzon (University Ca' Foscari of Venice)

Discussant: Max Bruche (CEMFI)
19.45 - 22.00 Dinner

Saturday, July 2
Session 3: Challenges to Systemic Risk Regulation
10.00 - 10.50 Macroprudential Regulation Versus Mopping Up After the Crash 
Olivier Jeanne (Johns Hopkins University)
Anton Korinek (University of Maryland)

Discussant: Arnoud Boot (University of Amsterdam)
10.50 - 11.40 The Dark Side of Liquidity Creation: Leverage and Systemic Risk
Viral Acharya (New York University)
Anjan Thakor (Washington University)

Discussant: Charles Kahn (University of Illinois)
11.40 - 12.10 Coffee break
12.10 - 13.00 Systemic Real and Financial Risks: Measurement, Forecasting, and Stress Testing
Gianni De Nicolò (International Monetary Fund)
Marcella Lucchetta (European University Institute)

Discussant: Diana Bonfim (Banco de Portugal)
13.00 - 14.00 Lunch
16.00 - 22.00 Social programme

Franklin Allen (University of Pennsylvania) 

António Antunes (Banco de Portugal) 

Luciana Barbosa (Banco de Portugal) 

Diana Bonfim (Banco de Portugal) 

Arnoud Boot (University of Amsterdam) 

Miguel Boucinha (Banco de Portugal) 

John H. Boyd (University of Minnesota) 

Karen Braun-Munzinger (Bank of England) 

Max Bruche (CEMFI)

Giacomo Carboni (European Central Bank) 

Fabio Castiglionesi (Tilburg University) 

Sónia Costa (Banco de Portugal) 

Gianni De Nicoló (International Monetary Fund) 

Luísa Farinha (Banco de Portugal) 

Douglas Gale (New York University) 

Zhiguo He (University of Chicago) 

Charles Kahn (University of Illinois) 

Anton Korinek (University of Maryland) 

Manfred Kremer (European Central Bank) 

Susana Filipa Lima (Banco de Portugal)

Riina Mäesalu (Bank of Estonia) 

Ricardo Martinho (Banco de Portugal) 

Konstantin W. Milbradt (MIT Sloan School of Management) 

Sara Noorali (Banco de Portugal) 

Martin Oehmke (Columbia University) 

Vincent Périlleux (National Bank of Belgium) 

Enrico C. Perotti (University of Amsterdam) 

Christian Pfister (Banque de France) 

Rui Pinto (Banco de Portugal) 

Sofia Brito Ramos (ISCTE Business School) 

Clara Raposo (Instituto Superior de Economia e Gestão) 

Nuno Ribeiro (Banco de Portugal) 

João Santos (Federal Reserve Bank of New York) 

Helene Schuberth (Oesterreichische Nationalbank) 

Nuno Silva (Banco de Portugal) 

Javier Suarez (CEMFI) 

Anjan Thakor (Washington University) 

Jouko Vilmunen (Bank of Finland) 

Wolf Wagner (Tilburg University)

Lucy White (Harvard Business School)