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Conference on Financial Intermediation

26 Jun. 2009
The Banco de Portugal Conference on Financial Intermediation will be held in Algarve, June 26-27, 2009.

The Conference aims at bringing together academics and practitioners to discuss the actual role of financial intermediaries worldwide.

The Organizer Committee for the Conference is composed by Luísa Farinha, Nuno Ribeiro and João Santos.
Thursday, June 25
19.30 - 21.30 Dinner
Friday, June 26
09.30 - 09.50 Opening address

Session 1 - Interbank Market Failures
Chair: Nuno Ribeiro (Banco de Portugal)
10.00 - 10.50 Interbank Market Liquidity and Central Bank Intervention
Franklin Allen (University of Pennsylvania)
Elena Carletti (European University Institute)
Douglas Gale (New York University)
Discussant: Xavier Freixas (Universitat Pompeu Fabra)
10.50 - 11.40 The Macroeconomics of Money Market Freezes
Max Bruche (CEMFI)
Javier Suarez (CEMFI)
Discussant: Arnoud Boot (University of Amsterdam)
11:40 - 12:10 Coffee break
12:10 - 13:00 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)
Discussant: Lucy White (Harvard Business School)
13:00 - 14:00 Lunch

Session 2 - Debt Market and Financial Stability
Chair: Ravi Jagannathan (Northwestern University)
14:00 - 14:50 The Lifecycle of the Financial Sector and other Speculative Industries
Bruno Biais (Université Toulouse 1)
Jean-Charles Rochet (Université Toulouse 1)
Paul Woolley (University of York)
Discussant: Sudipto Bhattacharya (London School of Economics)
14:50 - 15:40 Self-Fulfilling Credit Market Freezes
Lucian Bebchuk (Harvard University)
Itay Goldstein (University of Pennsylvania)
Discussant: Andrew Winton (University of Minnesota)
15:40 - 16:10 Coffee break
16:10 - 17:00 Infectious Leverage
Anand Goel (DePaul University)
Fenghua Song (The Pennsylvania State University)
Anjan Thakor (Washington University)
Discussant: John Hardman Moore (London School of Economics)
19.45 - 22.00 Dinner
Saturday, June 27

Session 3 - Detecting Risk and Regulating Banks
Chair: Jan Pieter Krahnen (Goethe University)
10:00 - 10:50 A Market-Based Measure of Credit Quality and Banks' Performance during the Subprime Crisis
Martin Knaup (Tilburg University)
Wolf Wagner (Tilburg University)
Discussant: Ana Lacerda (Banco de Portugal)
10:50 - 11:40 Originate-to-Distribute Model and the Subprime Mortgage Crisis
Amiyatosh Purnanandam (University of Michigan)
Discussant: Christopher M. James (University of Florida)
11:40 - 12:10 Coffee break
12:10 - 13:00 Banking Crises and Crisis Dating:Theory and Evidence
John H. Boyd (University of Minnesota)
Gianni De Nicolò (International Monetary Fund)
Elena Loukoianova (Barclays Capital)
Discussant: Franklin Allen (University of Pennsylvania)
13.00 - 14.00 Lunch
16.00 - 22.00 Social Programme

José Filipe Abreu (Banco de Portugal) 

Ugo Albertazzi (Banca d'Italia)  

Franklin Allen (University of Pennsylvania) 

Paula Antão (Banco de Portugal) 

António Antunes (Banco de Portugal) 

Luciana Barbosa (Banco de Portugal) 

Jesper Berg (Danmarks Nationalbank) 

Sudipto Bhattacharya (London School of Economics)  

Diana Bonfim (Banco de Portugal) 

Arnoud Boot (University of Amsterdam)  

Miguel Boucinha (Banco de Portugal) 

John H. Boyd (University of Minnesota)  

Mário Centeno (Banco de Portugal) 

Geraldo Cerqueiro (Universidade Católica Portuguesa)  

Luísa Farinha (Banco de Portugal) 

Maria Cândida Ferreira (Instituto Superior de Economia e Gestão) 

Miguel Ferreira (Universidade Nova de Lisboa) 

João Freitas (Banco de Portugal) 

Xavier Freixas (Universitat Pompeu Fabra) 

Douglas Gale (New York University)  

Itay Goldstein (University of Pennsylvania) 

Florian Heider (European Central Bank)  

Ravi Jagannathan (Northwestern University) 

Christopher M. James (University of Florida)  

Jan Pieter Krahnen (Goethe University)  

Ana Lacerda (Banco de Portugal) 

Marc Maréchal (National Bank of Belgium) 

John Hardman Moore (London School of Economics)  

Sara Noorali (Banco de Portugal) 

Diego Rodriguez Palenzuela (European Central Bank) 

Amiyatosh Purnanandam (University of Michigan) 

Nuno Ribeiro (Banco de Portugal)  

Jean-Charles Rochet (Université Toulouse 1)  

Carlos Santos (Banco de Portugal) 

João Santos (Federal Reserve Bank of New York)  

Mário João Santos (Universidade Católica Portuguesa) 

Helene Schubert (Oesterreichische Nationalbank) 

Clara Soares (Banco de Portugal) 

Javier Suarez (CEMFI)  

Anjan Thakor (Washington University)  

Jouko Vilmunen (Bank of Finland) 

Wolf Wagner (Tilburg University)  

Lucy White (Harvard Business School) 

Andrew Winton (University of Minnesota)