Carnegie-Rochester Conference Series on Public Policy
Editors: Bennett McCallum
Charles I. Plosser
Conference Event Reply Form
April 15-16, 2005
Simon School, University of Rochester
Carnegie-Rochester Conference Schedule
"Financial Innovation, Risk and Fragility"
April 15-16, 2005
8:00 pm-11:00 pm Welcome Reception, Hyatt Regency - refer to hotel monitor
8:30 am Bus transportation to campus
8:45-9:15 am Packet Retrieval and Breakfast
CONFERENCE SESSION I - SCHLEGEL 207
Chairman: Charles Plosser
9:15-10:30 am Deposit Insurance, Bank Regulation, and Financial System Risks"
by George Pennacchi
Discussant: Philip Strahan
10:30-10:45 am Break
10:45-12:00 pm "Bubbles and Capital Flow Volatility: Causes and Risk Management"
by Ricardo J. Caballero and Arvind Krishnamurthy
Discussant: Douglas Diamond
12:00 pm Luncheon – Schlegel Hall Rotunda
CONFERENCE SESSION II - SCHLEGEL 207
Chairman: Bennett McCallum
1:30-2:45 pm "A Portfolio View of Consumer Credit"
by David Musto and Nicholas Souleles
Discussant: Annamaria Lusardi
2:45-3:00 pm Break
3:00-4:15 pm  "Credit Risk Transfer, Fragility, and Contagion"
by Franklin Allen
Discussant: Tano Santos
4:30 pm Bus Transportation back to the Hyatt Regency
6:30 pm Bus departs Hyatt Regency for transportation to the Country Club of Rochester
6:45 pm Cocktails, Country Club of Rochester
Dinner, Country Club of Rochester
9:30 pm Transportation back to the Hyatt Regency
8:00 am Bus transportation to campus
8:15-8:45 am Breakfast
CONFERENCE SESSION III - SCHLEGEL 207
Chairman: Thomas Cooley
8:45-10:00 am "Can Financial Innovation Explain the Reduced Volatility of Economic Activity?"
by Dan Sichel, Karen Dynan and Douglas Elmendorf
Discussant: Jessica Wachter
10:00-10:15 am Break
10:15-11:30 am "An Options-Based Approach to Evaluating the Risk of Fannie Mae and Freddie Mac"
by Deborah Lucas and Robert McDonald
Discussants: Andreas Lehnert
11:30 am Lunch available in Schlegel Hall Rotunda.
12:15 pm Bus transportation to airport.
Transportation will also be available for earlier or later flights if needed.
COMMITTEE: Bennett McCallum and Charles Plosser, Co-chairs: Andrew
Abel, Thomas Cooley,
Janice Eberly, Marvin Goodfriend, Sergio Rebelo, Alan Stockman and Stanley Zin