Navigation Path: Home > Events > Conferences & seminars > The Role of Financial Market Liquidity in Periods of Turbulence: Theory, Empirical Evidence and Implications for Policy
Please note that this event is not open to media participants.
Eurotower, Conference Room CIV, 2nd floor Frankfurt am Main
| Conference dates | Thursday, 14 October 2010 and Friday, 15 October 2010 |
| Conference venue |
European Central Bank Eurotower Kaisertrasse 29 60311 Frankfurt am Main Germany Conference Room CIV, 2nd floor Tel.: +49 69 1344 0 Fax: +49 69 1344 6000 Email: info@ecb.europa.eu |
| Dinner venue |
Intercontinental Hotel Wilhelm-Leuschner-Strasse 43 60329 Frankfurt am Main,Germany Room Silhouette, 21st floor Dress code: business attire |
| Conference language | English |
| Programme | The conference programme may be changed without notice. |
| Organisers: |
Diego Rodriguez Palenzuela Capital Markets/Financial Structure Division ECB Directorate Economics Tel.: +49 69 1344 6480 Fax: +49 69 1344 8839 E-mail: diego.rodriguez@ecb.europa.eu Cornelia Holthausen Financial Research Divison ECB Directorate General Research Tel: +49 69 1344 6490 E-mail: cornelia.holthausen@ecb.europa.eu |
| Administrative support: |
Agnese Apine Tel: +49 69 1344 5068 Fax: +49 69 1344 6514 E-mail: agnese.apine@ecb.europa.eu Baiba Zile Tel: +49 69 1344 6503 Fax: +49 69 1344 6514 E-mail: baiba.zile@ecb.europa.eu ECB Directorate Communications Publishing, Events and Protocol Division Jutta Auth Tel.: +49 69 1344 7417 Fax: +49 69 1344 5775 E-mail: EVP-Events@ecb.europa.eu |
| Internet | www.ecb.europa.eu |
Day 1 - 14 October
| 8:45 - 9:15 | Registration |
| 9:15 - 9:30 | Welcome, Jean-Claude Trichet, President, European Central Bank |
Session I Financial frictions, liquidity and asset pricesChair: Ignazio Angeloni, European Central Bank |
|
| 9.30 - 10.50 |
"Financially Constrained Arbitrage and Cross-Market Contagion" Dennis Gromb (INSEAD and CEPR) and Discussants: |
| 10.50 - 11.10 | Coffee break |
| 11.10 - 12.30 | "Funding Liquidity Risk and the Cross-Section of Stock Returns" Tobias Adrian, Discussants: |
| 12.30 - 2.00 | Lunch (foyer CIV) |
Session 2Liquidity, financial distress and economic complexityChair: Frank Smets, European Central Bank |
|
| 2.00 - 3.20 |
"Overcoming Adverse Selection: How Public Intervention can Restore Market Functioning"
Jean Tirole, IDEI Discussants: |
| 3.20 - 4.40 |
"Caught Between Scylla and Charybdis? Regulating Bank Leverage When There is Rent Seeking and Risk Shifting."
Viral Acharya, Hamid Mehran, Anjan Thakor Discussants: |
| 4.40 - 5.00 | Coffee break |
| 5.00 - 6.20 |
"Fire Sales in a Model of Complexity"
Ricardo J. Caballero (MIT) and Alp Simsek Discussants: |
| 7.30 | Dinner (by invitation) |
Day 2 - 15 October
| 8.30 - 9.00 | Registration |
Session 3Money markets and financial market liquidityChair: Diego Rodríguez Palenzuela, European Central Bank |
|
| 9.00 - 10.20 | "Money and Liquidity in Financial Markets" Kjell Nyborg (Swiss Banking Institute and CEPR) and Discussants: |
| 10.20 - 11.40 | "Endogenous maturity mismatch, maturity of open
market operations and liquidity regulation"
Cornelia Holthausen and Jens Eisenschmidt, European Central Bank Discussants: |
| 11.40 - 12.00 | Coffee break |
| 12.00 - 1.20 |
"Bank Liquidity Creation, Monetary Policy, and Financial Crises"
Allen N. Berger (University of South Carolina, Wharton Financial Institutions Center and Tilburg University)
Discussants: |
| 1.30 | Lunch (foyer CIV) |
