Cowles Foundation for Research in Economics

MISSING FINANCIAL MARKETS

Organizers: Robert Shiller and John Geanakoplos

APRIL 27, 2001

8:15–8:50 Light Breakfast, General Motors Room, SOM, 55 Hillhouse

8:50

Very brief introduction (Robert Shiller and John Geanakoplos)

9:00–10:00

Gabrielle Demange (DELTA), "On Optimality in Intergenerational Risk Sharing"
     Discussant: Stefano Athanasoulis (University of Notre Dame)

10:30–11:30

Harry Mamaysky and Matthew Spiegel (Yale University), "A Theory of Mutual Funds: Optimal Fund Objectives and Industry Organization"
     Discussant: Rohit Rahi (London School of Economics)
11:30–12:30 George-Marios Angeletos (MIT) and Laurent E. Calvet (Harvard), "Incomplete Markets, Growth, and the Business Cycle"
     Discussant: Guy Laroque (INSEE-CREST)
12:30–1:30 Buffet Lunch, General Motors Room, SOM, 55 Hillhouse
1:30–2:30 Steven J. Davis and Paul Willen (University of Chicago), "Using Financial Assets to Hedge Labor Income Risks: Estimating the Benefits"
     Discussant: Marianne Baxter (Boston University)
3:00–4:00 Patrick Kehoe (Federal Reserve Bank of Minneapolis) and Fabrizio Perri (New York University), "International Business Cycles with Endogenous Incomplete Markets"
     Discussant: Michael Magill (University of Southern California)

4:00–5:00

Franklin Allen (University of Pennsylvania) and Douglas Gale (New York University), "Banking and Markets"
     Discussant: Nobuhiro Kiyotaki (London School of Economics)
7:00 Cocktails and Dinner, Omni New Haven Hotel