News and Announcements

Second Annual OTC Markets and Securities Workshop

by Anne Ellis | Oct 02, 2017

OTC

The Laboratory for Aggregate Economics and Finance (LAEF) at the University of California, Santa Barbara is pleased to announce the second LAEF OTC Markets and Securities Conference. The meeting will take place at The Upham Hotel in Santa Barbara, Friday, October 13, and Saturday, October 14, 2017.

The conference theme will be on three sets of topics: (1) over-the-counter (OTC) markets, market-microstructure, and networks; (2) "corporate finance" issues related to OTC traded securities (e.g. the treatment of derivative and repo contracts in bankruptcy, their effective seniority in bankruptcy, or any other contractual issues surrounding OTC traded securities); (3) the relationship between these topics with the financial crisis and macroeconomics.


Participants List:
Ana Babus Chicago Fed
Marco Di Maggio Harvard Business School
Selman Erol Carnegie Mellon University
Vyacheslav Fos Boston College
William Fuchs University of Texas, Austin
Benjamin Golub Harvard University
Barney Hartman-Glaser UCLA Anderson
Bernard Herskovic UCLA Anderson
Burton Hollifield Carnegie Mellon University
Gregor Jarosch Princeton University
Finn Kydland UC Santa Barbara
Ricardo Lagos University of Pennsylvania
Richard Lowery University of Texas, Austin
Semyon Malamud EPFL
Batchimeg Sambalaibat Indiana University
Semih Usluh Johns Hopkins University
Venky Venkateswaran NYU Stern
Colin Ward University of Minnesota
Pierre Olivier Weill UCLA
Haoxiang Zhu MIT Sloan

THURSDAY OCTOBER 12, 2017

19:00 - Informal dinner (please, RSPV Laurie by Sep 28 if you’d like to join)

FRIDAY OCTOBER 13, 2017

08:20 - 09:00 Light hotel breakfast

09:00 - 12:30
An Intermediation-Based Model of Exchange Rates
Semyon Malamud (EPFL) and Schrimpf
Discussant: Colin Ward (Minnesota)

15 min coffee break

Financial Industry Dynamics
Richard Lowery (UT Austin) and Landvoigt
Discussant: Barney Hartman-Glaser (UCLA)

15 min coffee break

Network Hazard and Bailouts
Selman Erol (Carnegie Mellon)
Discussant: Ana Babus (Chicago Fed)

12:30 - 14:00 Group Photo and Lunch

14:00 - 17:30
Illiquidity Spirals in Coupled Over-the-Counter Markets
Benjamin Golub (Harvard), Aymanns, Georg
Discussant: Bernard Herskovic (UCLA)

15 min coffee break

Platform Trading with an OTC Market Fringe
Semih Uslu (Johns Hopkins), Dugast, Weill
Discussant: Gregor Jarosch (Princeton)

15 min coffee break

Mechanism Selection and Trade Formation on Swap Execution Facilities
Haoxiang Zhu (MIT Sloan), Onur, Reiffen, Riggs
Discussant: Pierre Olivier Weill (UCLA)

17:30 - 19:00 Drinks at (most likely) Finn’s favorite dive bar

19:00 - Conference Dinner at Jane Restaurant, 1311 State St.

SATURDAY OCTOBER 14, 2017

08:00 - 09:00 Light hotel breakfast

09:00 - 12:30 TBA,
Information Aggregation in Dynamic Markets
William Fuchs (UT Austin), Asriyan, Green
Discussant: Venky Venkateswaran (NYU Stern)

15 min coffee break

Turnover Liquidity and the Transmission of Monetary Policy
Ricardo Lagos (UPenn), Zhang
Discussant: Burton Hollifield (Carnegie Mellon University)

15 min coffee break

Brokers and Order Flow Leakage: Evidence from Fire Sales
Marco Di Maggio (HBS), Barbon, Franzoni, Landier
Discussant: Vyacheslav Fos (Boston College)

12:30 - 14:00
Lunch and adjourn

Organizers: Finn Kydland and Batchimeg Sambalaibat

Contact info: Laurie Preston, laurie.preston@ucsb.edu, T: 805-893-2258 Batchimeg Sambalaibat, bsambala@iu.edu, T: 571-230-0197