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Conference on Financial Intermediation

8th Banco de Portugal Conference on Financial Intermediation
15 jul. 2022 a 16 jul. 2022
09:45 - 18:00
The 8th Banco de Portugal Conference on Financial Intermediation will be held in Lisboa, July 15-16, 2022. The Conference brings together academics and policy makers to present and discuss new research on financial intermediation.

Attendance is by invitation only.

The Scientific Committee for the Conference is Diana Bonfim, Luísa Farinha and João Santos.

Questions about arrangements should be addressed to Maria Soledade Sartóris to conferences@bportugal.pt.
Programme
Friday, July 15
09.45 - 10.00Opening address
Session 1: Costs of debt financing
10.00 - 10.50Zombie Lending and Policy Traps
Viral Acharya (New York University), Simone Lenzu (New York University) & Olivier Wang (New York University)

Discussant: Ernst-Ludwig Von Thadden (University of Mannheim)
10.50 – 11.40The costs of corporate debt overhang
Kristian Blickley (NY Fed) and João Santos (NY Fed & Nova School of Business and Economics)

Discussant: George Pennacchi (University of Illinois)
11.40 – 12.10Coffee
12.10 – 13.00A theory of debt accumulation and deficit cycle
Antonio Mele
(University of Lugano)

Discussant: Charles Kahn (University of Illinois)
13.00 - 14.00Lunch

 

Session 2: Climate change risks and financial intermediation
14.00 - 14.50Green Capital Requirements
Martin Oehmke (London School of Economics) and Marcus Opp (Stockholm School of Economics)

Discussant: Franklin Allen (Imperial College London)
14.50 - 15.40

Climate Change-Related Regulatory Risks and Bank Lending
Isabella Mueller (Halle Institute for Economic Research) and Eleonora Sfrappini (Halle Institute for Economic Research)

Discussant: Steven Ongena (University of Zurich)

15.40 - 16.10Coffee
16.10 - 17.00

Climate Stress Testing
Hyeyoon Jung (NY Fed), Robert Engle (New York University) Richard Berner (New York University)

Discussant: Loriana Pelizzon (SAFE Goethe University Frankfurt and Ca'Foscari University of Venice) 

 

Saturday, July 16
Session 3: Financial intermediation after the Great Recession
09.30 - 10.20

Loan Guarantees, Bank Lending and Credit Risk Reallocation
Carlo Altavilla (ECB), Andrew Ellul (Indiana University), Marco Pagano (University of Naples Federico II) Andrea Polo (Luiss Guido Carli University) Thomas Vlassopoulos (ECB)

 Discussant: Elena Loutskina (UVA Darden School of Business)

10.20 – 11.10

Not All Shocks Are Created Equal: Assessing Heterogeneity in the Bank Lending Channel
Laura Blattner (Stanford University), Luísa Farinha (Banco de Portugal) and Gil Nogueira (Banco de Portugal)

 Discussant: Janet Gao (Georgetown University)

11.10 – 11.25Coffee
11.25 – 12.15

A Model of Interacting Banks and Money Market Funds
Martin Farias (CEMFI) and Javier Suarez (CEMFI)

Discussant: Douglas Gale (New York University)

 

Participants

Franklin Allen (Imperial College London)

António Antunes (Banco de Portugal) 

Dina Batista (Banco de Portugal)

Diana Bonfim (Banco de Portugal)

Maria Manuel Campos (Banco de Portugal)

Mário Centeno (Banco de Portugal)

Geraldo Cerqueiro (Católica Lisbon School of Business & Economics) 

Ana Diniz (Banco de Portugal)

Inês Drumond (Banco de Portugal)

Luísa Farinha (Banco de Portugal)

Douglas Gale (New York University)

Janet Gao (Georgetown University)

Hyeyoon Jung (NY Fed)

Charles Kahn (University of Illinois)

Joana Leite (Banco de Portugal)

Elena Loutskina (UVA Darden School of Business)

Luís Martins (Banco de Portugal)

Márcio Mateus (Banco de Portugal)

Antonio Mele (University of Lugano)

Pedro Moreira (Banco de Portugal)

Gil Nogueira (Banco de Portugal)

Martin Oehmke (London School of Economics) 

Steven Ongena (University of Zurich)

Marco Pagano (University of Naples Federico II) 

Loriana Pelizzon (SAFE Goethe University Frankfurt and Ca'Foscari University of Venice)

George Pennacchi (University of Illinois)

Leonor Queiró (Banco de Portugal)

João Santos (NY Fed & Nova School of Business and Economics)

António Santos (Banco de Portugal)

Eva Schliephake (Católica Lisbon School of Business & Economics) 

Eleonora Sfrappini (Halle Institute for Economic Research)

Nuno Silva (Banco de Portugal)

Carla Soares (Banco de Portugal)

Javier Suarez (CEMFI)

Ernst-Ludwig Von Thadden (University of Mannheim)

Olivier Wang (New York University)

Sujiao Zhao (Banco de Portugal)

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