24th Annual Financial Markets Conference - Mapping the Financial Frontier: What Does the Next Decade Hold? Papers, Presentations, and Audio and Video Recordings - May 19–21, 2019

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Papers, Presentations, and Audio and Video Recordings

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Keynote speech and dinner
Simon Johnson, Professor of Entrepreneurship, Massachusetts Institute of Technology
video file Watch the keynote (transcript available)
 
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Policy Session 1: Will Blockchains Lead Us to a Trustless World?
Some have promoted blockchain technology as a new type of database that will eliminate the need for banks and other trusted third parties. What is blockchain technology? What are its advantages and limitations? How is it being used in practice?
Presenter: David Yermack, Professor of Finance and Business Transformation, New York University Stern School of Business [Paper Adobe PDF file format | Presentation Adobe PDF file format]
Discussant: Martin Walker, Director of Banking and Finance, Center for Evidence-Based Management [Presentation Adobe PDF file format]
Discussant: Keith Pritchard, Director, JDX Consulting
Moderator: Warren Weber, Visiting Scholar, Federal Reserve Bank of Atlanta
audio Listen to the session (transcript available)
Research Session 1: The Economic Limits of Bitcoin and the Blockchain Adobe PDF file format
Presenter: Eric Budish, Professor of Economics, University of Chicago Booth School of Business [Presentation Adobe PDF file format]
Discussant: David Andolfatto, Senior Vice President, Federal Reserve Bank of St. Louis [Presentation Adobe PDF file format]
Moderator: Larry Wall, Executive Director, Center for Financial Innovation and Stability, Federal Reserve Bank of Atlanta
audio Listen to the session (transcript available)
 
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Policy Session 2: How Do We Navigate between Under- And Over-Regulation of Data?
Advances in our ability to obtain and analyze data are facilitating better decision making in a variety of areas but also reducing individuals' privacy. What are the tradeoffs associated with alternative allocations of property rights over these data?
Panelist/presenter: Alessandro Acquisti, Professor of Information Technology and Public Policy, Heinz College at Carnegie Mellon University [Paper Adobe PDF file format | Presentation Adobe PDF file format]
Panelist: Tara Sinclair, Senior Fellow, Indeed [Presentation Adobe PDF file format]
Panelist: James Stoker, Director, Analytics Innovation, SunTrust [Presentation Adobe PDF file format]
Moderator: Douglas J. Elliott, Partner, Finance & Risk/Public Policy Practice, Oliver Wyman [Paper Adobe PDF file format]
Research Session 2: Nonrivalry and the Economics of Data Adobe PDF file format
Presenter: Christopher Tonetti, Associate Professor of Economics, Stanford University Graduate School of Business [Presentation Adobe PDF file format]
Discussant: John Abowd, Chief Scientist and Associate Director for Research and Methodology, U.S. Census Bureau [Presentation Adobe PDF file format]
Moderator: Sudheer Chava, Professor of Finance, Georgia Institute of Technology Scheller College of Business
audio Listen to the session (transcript available)
 
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Keynote speech and dinner
Business Debt and Our Dynamic Financial System
Jerome Powell, Chairman, Federal Reserve Board of Governors
video file Watch the keynote (transcript available)
 
Policy Session 4: As We Move on from a Fed Balance Sheet Enlarged by QE, How Will Monetary Policy Be Implemented?
For the last decade, the Fed has relied on large-scale asset purchases (such as QE) and interest on reserves to provide the appropriate level of monetary accommodation. As the need for that accommodation is relaxed, how will policy be implemented, and what does that implementation mean for markets?
Panelist: Charles Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago
Panelist: Ethan Harris, Managing Director and Head of North America Economics, BofA Merrill Lynch
Panelist: Kevin Warsh, Distinguished Visiting Fellow, Stanford University's Hoover Institution
Moderator: Julia Coronado, President and Founder, MacroPolicy Perspectives
video file Watch the session (transcript available)
video file Interview with Julia Coronado
 
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Keynote speech
Donald Layton, Chief Executive Officer, Freddie Mac
Moderator: Raphael Bostic
video file Watch the keynote (transcript available)
 
Policy Session 3: How Has the Housing Finance System Evolved since the Crisis and Where Is It Headed?
The housing finance system has continued to evolve since the crisis, even with the government-sponsored enterprises in conservatorship. What are the more important changes, and how will they affect the future of housing finance?
Panelist: Michael Bright, President and Chief Executive Officer, Structured Finance Industry Group Inc.
Panelist: Andrew Davidson, President, Andrew Davidson & Co. [Presentation Adobe PDF file format]
Panelist: Mark Zandi, Chief Economist, Moody's Analytics [Presentation Adobe PDF file format]
Moderator: W. Scott Frame, Financial Economist and Senior Adviser, Federal Reserve Bank of Atlanta [Presentation Adobe PDF file format]