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Loyola University Chicago

Quinlan School of Business

Conference Information

New Perspectives on Asset Price Bubbles:
Theory, Evidence, and Policy

Friday, April 8, 2011
Loyola University Chicago
Lewis Towers, 111 E. Pearson
Chicago, IL

This conference will critically re-examine the profession's understanding of asset bubbles and update seminal articles in light of the global financial crisis of 2007-09.

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AGENDA/SCHEDULE:

8:00AM to 8:45AM - Continental Breakfast and Registration

8:45AM to 9:00AM - Welcome

9:00AM to 9:45AM - Session 1
Bubbles: Theory and Evidence (What's New)

Seminal Article: Allen, Franklin and Gary Gorton, (1993), "Churning Bubbles" The Review of Economic Studies, Volume 60, pp. 813-836.

Paper: Gadi Barlevy, Federal Reserve Bank of Chicago

9:45AM to 10:30AMSession 2
Consequences of Bubbles Bursting

Seminal Article: Hoshi, Takeo, and Anil Kashyap, (2000), "The Japanese Banking Crisis: Where did it come from and how will it end?" NBER Macroeconomics Annual, pp.129-201.

Paper: Andrew Filardo, Bank for International Settlements

11:00AM to 11:45AMSession 3
Bubbles and Monetary Policy

Seminal Article: Bernanke, Ben and Mark Gertler, (1999), "Monetary Policy and Asset Price Volatility,Economic Review of the Federal Reserve Bank of Kansas City, pp. 17-51.

Paper: Kenneth Kuttner, Williams College              

Noon to 1:30PM  - Luncheon

Keynote Speaker: William Poole, Cato Institute and University of Delaware

1:45PM to 2:30PMSession 4
Bubbles and Macro-prudential Regulation

Seminal Article: Borio, Claudio (2003) "Towards a Macro-prudential Framework for Financial Supervision and Regulation?" CESifo Economic Studies, Volume 49, pp 181-216. Also available as BIS Working Papers, no 128.

Paper: Viral Acharya, New York University

2:30PM to 3:15PMSession 5
Bubbles: Behavioral Explanations

Seminal Article: Scheinkman, Jose and Wei Xiong (2003), "Overconfidence and Speculative Bubbles", Journal of Political Economy, 111, pp. 1183-1219.

Paper: Werner De Bondt, DePaul University

3:30PM to 4:30PMSession 6
Bubbles: Summary and Wrap Up

Commentator: Benjamin Friedman, Harvard University

4:30PM to 5:30PM - Reception

Loyola

QUINLAN SCHOOL OF BUSINESS: UNDERGRADUATE PROGRAMS · 1 E. PEARSON ST., MAGUIRE HALL, CHICAGO, IL 60611
PHONE: 312.915.6113 · FAX: 312.915.7207

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