Spring 2010

Last Updated: May 11, 2010

The seminars are scheduled every Thursday from 11:10 am-12:30 pm in Room C220 Cheit Hall (except for May 12). Please note the new seminar time. These seminars are free and are open to the public.

March 18 Thursday

Ivo Welch (Brown University)
Capital Structure Dynamics

The main paper that Professor Welch will present is Reconciling Estimates of the Speed of Adjustment of Leverage Ratios (pdf file), but he will also talk a little about A Critique of Quantitative Structural Models in Corporate Finance (pdf file)

March 25 Thursday

Spring Break – No Seminar

April 1 Thursday

Nobu Kiyotaki (Princeton University)
Liquidity, Business Cycles and Monetary Policy (with John Moore, University of Edinburgh) (pdf file)

Will present above paper with added material from a second paper, The Great Escape? A Quantitative Evaluation of the Fed’s Non-Standard Policies (pdf file)

April 8 Thursday

John Cochrane (University of Chicago)
Understanding Fiscal and Monetary Policy in the Great Recession: Some Unpleasant Fiscal Arithmetic (paper link)

Short Summary

April 15 Thursday

Thomas Philippon (New York University)
Optimal Interventions in Markets with Adverse Selection (with Vasiliki Skreta, New York University) (pdf file)

April 22 Thursday

Marco Ottaviani (Northwestern University)
Aggregation of Information and Beliefs: Asset Pricing Lessons from Prediction Markets (with Peter Norman Sørensen, University of Copenhagen) (paper link)

April 29 Thursday

Jiang Wang (Massachusetts Institute of Technology)
Liquidity of Corporate Bonds (with Jack Bao and Jun Pan, Massachusetts Institute of Technology) (pdf file)

May 6 Thursday

Jeremy Stein (Harvard University)
Monetary Policy as Financial-Stability Regulation (pdf file)


Joint Stanford-Berkeley Seminar at Berkeley
2:30-5:40 pm – Room C125 Cheit Hall

2:30-3:20 pm Ilan Kremer, Stanford, Endogenous Information Flows and the Clustering of Announcements (with Viral Acharya, New York University; and Peter DeMarzo, Stanford University) (pdf file)
3:20-3:40 pm Discussant: Terry Hendershott, Berkeley
3:40-3:50 pm Floor Discussion
3:50-4:20 pm Break
4:20-5:10 pm Willie Fuchs, Berkeley, Bargaining with Deadlines and Private Information (with Andrzej Skrzypacz, Stanford University) (pdf file)
5:10-5:30 pm Discussant: Anat Admati, Stanford
5:30-5:40 pm Floor Discussion

For more information about the Finance Seminars, please contact June Wong, faculty assistant, at (510)642-1499 or e-mail her: june@haas.berkeley.edu

Faculty Coordinator, Spring Seminars: Professor Martin Lettau