Financial Stability Implications of New Technology - October 18–19, 2018

Banner image for Financial Stability Implications of New Technology conference

Agenda

Thursday, October 18
8:15 a.m. Registration and continental breakfast
8:50 Welcome
9:00 Liquidity in Automated Markets
Chair: Joseph Noss, Financial Stability Board

"Who Supplies Liquidity, and When?" Adobe PDF file format
Presenter: Mao Ye, University of Illinois, Urbana-Champaign
Sida Li, University of Illinois, Urbana-Champaign
Xin Wang, University of Illinois, Urbana-Champaign

"High-Frequency Cross-Market Trading: Model Free Measurement and ApplicationsAdobe PDF file format
Presenter: Dobrislav Dobrev, Federal Reserve Board
Ernst Schaumburg, AQR Capital Management
10:30 Break
11:00 Changing Technology and Mortgage Market Risk
Chair: Vincent Yao, Georgia State University
Discussant: Gonzalo Maturana, Emory University

"Technological Innovation in Mortgage UnderwritingAdobe PDF file format
Presenter: Lara Loewenstein, Federal Reserve Bank of Boston
Christopher L. Foote, Federal Reserve Bank of Boston
Paul S. Willen, Federal Reserve Bank of Boston

"Market Dynamics among the ABX Index, Credit Default Swaps, and Mortgage-Backed Bonds" Adobe PDF file format
Presenter: Meredith E. Rhodes, Louisiana State University
Michael B. Imerman, Claremont University
Joseph R. Mason, Louisiana State University
Rajesh P. Narayanan, Louisiana State University
12:30 p.m. Lunch
1:30 Blockchains
Chair: Larry Wall, Federal Reserve Bank of Atlanta

"Tokenomics: Dynamic Adoption and Valuation" Adobe PDF file format
Presenter: Lin William Cong, University of Chicago
Ye Li, Ohio State University
Neng Wang, Columbia University

"Auditing and Blockchains: Pricing, Misstatements, and Regulation" Adobe PDF file format
Presenter: Baozhong Yang, Georgia State University
Sean Cao, Georgia State University
Lin William Cong, University of Chicago
3:00 Break
3:30 Panel: "Cryptocurrency and Central Bank E-Money"
Chair: Alistair Milne, Loughborough University

Douglas Elliott, Oliver Wyman [Paper #1 Adobe PDF file format | Paper #2 Adobe PDF file format]
Gina C. Pieters, University of Chicago [Paper Adobe PDF file format]
Francisco Rivadeneyra, Bank of Canada [Paper Adobe PDF file format]
Warren E. Weber, Webereconomics [Paper Adobe PDF file format]
5:30 Reception and dinner
Speaker: Lawrence J. White, New York University
 
Friday, October 19
8:30 a.m. Continental breakfast
9:00 Online Lending Markets
Chair: Christina Wang, Federal Reserve Bank of Boston

"Reintermediation in Fintech: Evidence from Online LendingAdobe PDF file format
Presenter: Tetyana Balyuk, Emory University
Sergei Davydenko, University of Toronto

"Consumer Lending Efficiency: Commercial Banks versus a Fintech Lender" Adobe PDF file format
Presenter: Joseph P. Hughes, Rutgers University
Julapa Jagtiani, Federal Reserve Bank of Philadelphia
Choon‐Geol Moon, Hanyang University
10:30 Break
11:00 Consumers and Investors in Marketplace Lending
Chair: Lauren Lambie-Hanson, Federal Reserve Bank of Philadelphia

"Winners and Losers of Marketplace Lending: Evidence from Borrower Credit Dynamics" Adobe PDF file format
Presenter: Nikhil Paradkar, Georgia Institute of Technology
Sudheer Chava, Georgia Institute of Technology

"The Real Effects of Financial Technology: Marketplace Lending and Personal Bankruptcy" Adobe PDF file format
Presenter: Ilaf Elard, Shanghai University of International Business and Economics
Piotr Danisewicz, University of Bristol
12:30 p.m. Lunch
1:30 Banks and New Technology
Chair: Rohan Ganduri, Emory University

"Bank Lending in the Knowledge Economy" Adobe PDF file format
Presenter: Dalida Kadyrzhanova, Georgia State University
Giovanni Dell'Ariccia, International Monetary Fund
Camelia Minoiu, International Monetary Fund
Lev Ratnovski, International Monetary Fund

"Listening to the Buzz: Social Media Sentiment and Retail Depositors' TrustAdobe PDF file format
Presenter: Mirko Moscatelli, Bank of Italy
Matteo Accornero, Bank of Italy

"How Do Bank Customers Go Digital? A Random Forest Approach" Adobe PDF file format
Presenter: Pedro J. Cuadros-Solas, Colegio Universitario de Estudios Financieros
Santiago Carbó-Valverde, Colegio Universitario de Estudios Financieros
Francisco Rodríguez-Fernández, Colegio Universitario de Estudios Financieros
3:45 Adjournment