Carnegie Mellon University
Macro-Finance Conference 2018

Advances in Macro Finance

Organized by:  Tetiana Davydiuk, Finn Kydland and Ariel Zetlin-Jones

Conference Schedule [pdf]

Friday, September 28, 2018
9:30 to 11:30 a.m.


  • Foreign Investment of U.S. Multinationals: The Effect of Tax Policy and Agency Conflicts
    Authors:  James F. Albertus (Carnegie Mellon), Brent Glover (Carnegie Mellon) and Oliver Levine (UW–Madison)
    Discussant:  Francois Gourio (FRB Chicago)
  • Information versus Investment
    Authors:  Stephen J. Terry (Boston), Toni M. Whited (Michigan) and Anastasia A. Zakolyukina (Chicago)
    Discussant:  Max Croce (UNC–Chapel Hill)
Noon to 1:30 p.m. LUNCH
1:30 to 3:30 p.m. SESSION 2
  • Long-Term Finance and Investment with Frictional Asset Markets
    Author:  Julian Kozlowski (FRB St. Louis)
    Discussant:  Konstantin Milbradt (Northwestern)

Finance in a Time of Disruptive Growth
Authors:  Nicolae Garleanu (Berkeley) and Stavros Panageas (UCLA)
Discussant: Gian Luca Clementi (NYU)

3:30 to 4 p.m. BREAK
4 to 6 p.m. SESSION 3
  • An Information-based Theory of Financial Intermediation
    Authors:  Zachary Bethune (Virginia), Bruno Sultanum (FRB Richmond), and Nicholas Trachter (FRB Richmond)
    Discussant:  Michael Choi (UC–Irvine)
  • A Walrasian Theory of Sovereign Debt Auctions with Asymmetric Information
    Authors:  Harold Cole (University of Pennsylvania), Daniel Neuhann (UT–Austin), and Guillermo Ordonez (University of Pennsylvania)
    Discussant:  Philip Bond (University of Washington)
8:15 p.m. DINNER:  Opal Restaurant, 1325 State St.
Saturday, September 29, 2018
8:45 to 10:45  a.m. SESSION 4
  • Selection, Leverage, and Default in the Mortgage Market
    Authors:  Arpit  Gupta (NYU)  and  Christopher  Hansman (Imperial College)
    Discussant:  Felipe Severino (Dartmouth)
  • Employer Credit Checks: Poverty Traps versus Matching Efficiency
    Authors:  Dean Corbae (UW–Madison) and Andrew Glover (UT–Austin)
    Discussant:  Igor Livshits (FRB Philadelphia)
10:45 to 11 a.m. BREAK
1 to 3 p.m. SESSION 5
  • Too Much Skin-in-the-game? The Effect of Mortgage Market Concentration on Credit and House Prices
    Author:  Deeksha Gupta (Carnegie Mellon)
    Discussant:  Daniel Greenwald (MIT)
  • Household Debt Revaluation and the Real Economy: Evidence from a Foreign Currency Debt Crisis
    Authors:  Emil Verner (MIT) and Gyozo Gyongyosi (Central European University and National Bank of Hungary)
    Discussant:  Stefan Lewellen (Penn State and London Business School)
1 to 2:30 p.m. LUNCH AND ADJOURN