Conference Program

Friday, November 9

Session 1 “Asset Pricing and Portfolio Choice”

Are Institutions Informed about News?
Presenter: Dmitry Livdan, Haas School of Business, University of California, Berkeley (co-authors: Terence Hendershott and Norman Schürhoff)
Discussant: Sergey Gelman, ICEF, Higher School of Economics, Moscow
Paper   Presentation  Discussion

Asset Pricing with Heterogeneous Investors and Portfolio Constraints
Presenter: Georgy Chabakauri, London School of Economics
Discussant: Dmitry Makarov, New Economic School, Moscow
Paper    Presentation  Discussion

Optimal life-cycle portfolios for heterogeneous workers
Presenter:  Giovanna Nicodano, University of Turin
Discussant:  Carsten Sprenger, ICEF, Higher School of Economics, Moscow
Paper   Presentation  Discussion

Session 2 “Corporate Finance"

Agency, Firm Growth, and Managerial Turnover
Presenter: Stéphane Guibaud, London School of Economics (co-authors: Ronald W. Anderson and M. Cecilia Bustamante)
Discussant: Stanimir Morfov, ICEF, Higher School of Economics, Moscow
Paper    Presentation  Discussion

Getting by with a Little Help from My Friends: Does Political Affinity Lead to Lower Acquisition Premiums?
Presenter:  Marie-Ann Betschinger, ICEF, CAS and Faculty of Management, Higher School of Economics, Moscow (co-authors: Olivier Bertrand and Alexander  Settles)
Discussant:  Giovanna Nicodano, University of Turin
Paper   Presentation  Dscussion

Session 3 “Monetary Policy and Banking"

Financial Market Openness and Monetary Control
Presenter: Patrick Kelly, New Economic School, Moscow (co-authors: Bill B. Francis and Delroy M. Hunter)
Discussant: Dmitry Livdan, Haas School of Business, University of California, Berkeley
Paper   Presentation  Discussion

Deposit Insurance and Deposit Contracts
Presenter:  Vladimir Sokolov, ICEF, Higher School of Economics, Moscow (co-author: Lucy Chernykh)
Discussant:  Branko Urošević, University of Belgrade
Paper   Presentation  Discussion

Session 4 “Market Microstructure” 

Liquidity and the Marginal Value of Information
Presenter: Bart Taub, University of Durham (co-author: Alex Boulatov)
Discussant: Christian Julliard, London School of Economics

Uniqueness of Equilibrium in the Single-Period Kyle'85 Model
Presenter:  Alex Boulatov, Higher School of Economics Moscow (co-authors: Albert S. Kyle and Dmitry Livdan)
Discussant: Georgy Chabakauri, London School of Economics
Paper   Presentation  Discussion

Session 5 “Macro-Finance”

A General Equilibrium Exploration of Minsky’s Financial Instability Hypothesis…
Presenter: Dimitrios Tsomocos, Saïd Business School, University of Oxford (co-authors: Sudipto Bhattacharya, Charles A.E. Goodhart, and Alexandros P. Vardoulakis)
Discussant: Bart Taub, University of Durham
Paper   Presentation  Discussion 

Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia

Presenter: Udara Peiris, ICEF, Higher School of Economics, Moscow (co-author: Herakles Polemarchakis)
Discussant: Stéphane Guibaud, London School of Economics
Paper   Presentation  Discussion