4th IMF Macro-Financial Research Conference
September 29-30, 2021
We invite you to attend the 4th IMF Annual Macro-Financial Research Conference which will take place virtually on Wednesday, September 29 and Thursday, September 30, 2021.
This year’s conference, the fourth in a series that aims to stimulate discussion on macro-financial linkages, includes sessions on: (I) redistributive effects of financial policies, (II) real and financial drivers of global imbalances, (III) the impact of technology in finance on entrepreneurship and small firms, (IV) sustainable finance solutions to climate change, (V) credit market, innovation and growth and (VI) macro-financial aspects of COVID-19.
Please use the WebEx links below for each day:
If you have any questions, please contact us at resmfexternal@imf.org.
|
Wednesday, September 29, 2021 |
|
|
9:00–9:15 am |
Welcoming Remarks Gita Gopinath (Economic Counsellor and Director, Research Department, IMF) |
|
9:15–10:45 am |
Session I: Redistributive Effects of Financial Policies Chair: Giovanni Dell'Ariccia (Deputy Director, Research Department, IMF) The Mortgage Credit Channel of Macroeconomic Transmission Daniel Greenwald (Massachusetts Institute of Technology) Paper | Presentation Discussant: Vadim Elenev (John Hopkins University) Presentation Optimal Mortgage Regulation and Income Inequality Nina Biljanovska (IMF), and Alexandros Vardoulakis (Board of Governors of the Federal Reserve System) Presentation Discussant: Daniel Greenwald (Massachusetts Institute of Technology) Presentation Monetary Policy, Heterogeneity, and the Housing Channel Aaron Hedlund (University of Missouri), Fatih Karahan (Federal Reserve Bank of New York), Kurt Mitman (Stockholm University), and Serdar Ozkan (University of Toronto) Paper | Presentation
Discussant: Ludwig Straub (Harvard University) Presentation |
|
10:45–11:00 am |
***Virtual Coffee Break*** |
|
11:00–12:30 pm |
Session II: Real and Financial Drivers of Global Imbalances Chair: Daniel Leigh (Division Chief, Research Department, IMF) A Portfolio Approach to Global Imbalances Zhengyang Jiang (Northwestern University), Robert Richmond (New York University), and Tony Zhang (Board of Governors of the Federal Reserve System) Paper | Presentation Discussant: Eric van Wincoop (University of Virginia) Presentation Demographics, Wealth, and Global Imbalances in the Twenty-First Century Adrien Auclert (Stanford University), Hannes Malmberg (University of Minnesota), Frédéric Martenet (Stanford University), and Matthew Rognlie (Northwestern University) Paper | Presentation
Discussant: Nicolas Coeurdacier (SciencesPo) Presentation Financial Globalization: Winners and Losers Damien Capelle (IMF) and Bruno Pellegrino (University of Maryland) Presentation
Discussant: Ricardo Reyes-Heroles Cardoso (Board of Governors of the Federal Reserve System) Presentation
|
|
12:30–1:15 pm |
***Virtual Lunch Break*** |
|
1:15–2:45 pm |
Session III: Technology in Finance: The Impact of Entrepreneurship and Small Firms Chair: Sole Martinez Peria (Assistant Director, Research Department, IMF) The Role of Fintech in Small Business Lending: Evidence from France Paul Beaumont (McGill University), Huan Tang (London School of Economics), and Eric Vansteenberghe (Paris School of Economics) Paper | Presentation Discussant: Manuel Adelino (Duke University) Presentation Does IT Help? Information Technology in Banking and Entrepreneurship Toni Anhert (Bank of Canada), Sebastian Doerr (Bank for International Settlements), Nicola Pierri (IMF), and Yannick Timmer (Board of Governors of the Federal Reserve System) Paper | Presentation
Discussant: Tarun Ramadorai (Imperial College London) Presentation Can FinTech Reduce Disparities in Access to Finance? Evidence from the Paycheck Protection Program Isil Erel (Ohio State University), and Jack Liebersohn (UC Irvine) Paper | Presentation
Discussant: Gustavo Manso (UC Berkeley) Presentation |
|
2:45–3:00 pm |
***Virtual Coffee Break*** |
|
3:00–4:30 pm |
Session IV: Sustainable Finance Solutions to Climate Change Chair: Kristina Kostial, (Deputy Director, Strategy, Policy, and Review Department, IMF) Limits to Private Climate Change Mitigation Dalya Elmalt (IMF), Deniz Igan (IMF), and Divya Kirti (IMF) Paper | Presentation Discussant: Luigi Zingales (University of Chicago) Presentation Signaling Through Carbon Disclosure Patrick Bolton (Columbia University), and Marcin T. Kacperczyk (Imperial College London) Paper | Presentation
Discussant: Harrison Hong (Columbia University) Presentation A Theory of Socially Responsible Investment Martin Oehmke (London School of Economics), and Marcus Opp (Stockholm School of Economics) Paper | Presentation
Discussant:Franklin Allen (Imperial College London) Presentation |
|
Thursday, September 30, 2021 |
|
|
9:15–10:45 am |
Session V: Credit Market, Innovation, and Growth Chair: Prachi Mishra, (Advisor, Research Department, IMF) Small and Vulnerable: SME Productivity in the Great Productivity Slowdown Sophia Chen (IMF), and Do Lee (New York University) Paper | Presentation Discussant: Ryan Decker (Board of Governors of the Federal Reserve System) Presentation Product Innovation and Credit Market Disruptions Joao Granja (University of Chicago), and Sara Moreira (Northwestern University) Paper | Presentation
Discussant: Stephan Luck (Federal Reserve Bank of New York) Presentation Crisis Innovation Tania Babina (Columbia University), Asaf Bernstein (University of Colorado at Boulder), and Filippo Mezzanotti (Northwestern University) Paper | Presentation
Discussant:Yueran Ma (University of Chicago) Presentation |
|
10:45–11:15 am |
***Virtual Coffee Break*** |
|
11:15–12:45 pm |
Session VI: Macro-Financial Aspects of COVID-19 Chair: Martin Cihak, (Advisor, Strategy, Policy, and Review Department, IMF) How Did U.S. Consumer Use Their Stimulus Payments? Michael Weber (University of Chicago), Olivier Coibion (UT Austin) and Yuri Gorodnichenko (UC Berkeley) Paper | Presentation Discussant: Florian Heider (European Central Bank) Presentation Macroprudential Policy during COVID-19: The Role of Policy Space Katharina Bergant (IMF), and Kristin Forbes (Massachusetts Institute of Technology) Paper | Presentation
Discussant: Gian Maria Milesi-Ferretti (Brookings) Presentation COVID-19 and SME Failures Şebnem Kalemli-Özcan (University of Maryland), Pierre Olivier Gourinchas (UC Berkeley), Veronika Penciakova (Federal Reserve Bank of Atlanta) and Nick Sander (UC Berkeley) Paper | Presentation
Discussant: Benoit Mojon (Bank for International Settlements) Presentation |