# 2024 Martin J. Gruber Five-Star Conference on Research in Finance

![Coat of arms of 5 star schools](/sites/default/files/styles/large_825px_wide/public/2024-10/screen_shot_2024-10-18_at_2.09.52_pm.png.webp?itok=427PdeGW)

**The Salomon Center 2024 Martin J. Gruber Five-Star Conference on Research in Finance**

This annual conference brings together finance researchers from five leading northeastern universities. We invite colleagues at all schools in the northeast, and others interested in current finance research, to a day of research presentations in finance. Faculty from each of the program participant schools present one of the papers on the program.

Location:
NYU Stern School of Business
Kaufman Management Center
44 West 4th Street
New York, NY 10012

Organizers: Yakov Amihud, Kose John and Anthony Lynch, New York University
Founding Organizers: Yakov Amihud and Kose John

Conference Advisory Committee:
Nick Barberis, Yale University
Markus Brunnermeier, Princeton University
David Musto, University of Pennsylvania
Michael Roberts, University of Pennsylvania
Tano Santos, Columbia University
Heather Tookes, Yale University
Laura Veldkamp, Columbia University
Wei Xiong, Princeton University

Registration:
To register for the conference and reserve your luncheon ticket, [RSVP using this form](https://forms.gle/2anfei4Baz3ySHqV8).

**Agenda**

9:00am Registration & Breakfast

9:30am Introduction

9:45am Chair: **Theresa Kuchler, New York University**

"[Partial Equilibrium Thinking, Extrapolation, and Bubbles](https://www.stern.nyu.edu/sites/default/files/2024-10/Fontanier-Partial%20equilibrium%2C%20extrapolation%20%26%20bubbles.pdf)"

Francesca Bastianello, University of Chicago

**Paul Fontanier, Yale University**

Discussant: **Wei Xiong, Princeton University**

10:45am Refreshment Break

11:00am Chair: **Laura Veldkamp, Columbia University**

["](https://drive.google.com/file/d/1sq_kdS9Jh2OCNPJT6Py8zHV4eTJlBk13/view?usp=sharing)[The Subjective Belief Factor](https://acrobat.adobe.com/id/urn:aaid:sc:US:4d103d97-6dbd-41da-a1eb-a8128a85e024)["](https://drive.google.com/file/d/1sq_kdS9Jh2OCNPJT6Py8zHV4eTJlBk13/view?usp=sharing)

Tingyue Cui, University of Pennsylvania

Ricardo Delao, University of Southern California

**Sean Myers, University of Pennsylvania**

Discussant: **Stefano Giglio, Yale University**

12:00pm Refreshment Break

12:15pm Chair: **Yao Zeng, University of Pennsylvania**

"[Monetary Transmission Through Bank Securities Portfolios](https://www.nber.org/papers/w32449)"

**Daniel Greenwald, New York University**

John Krainer, Federal Reserve Board

Pascal Paul, Federal Reserve Bank of San Francisco

Discussant: **Yiming Ma, Columbia University**

1:15pm Lunch

Keynote speaker: **John Y. Campbell, the Morton L. and Carole S. Olshan Professor of Economics, Harvard University**

2:15pm Chair: **Philipp Schnabl, New York University**

"[Falling Rates and Rising Superstars](https://www.stern.nyu.edu/sites/default/files/2024-11/AER_KLMS_Round2_Paper.pdf)"

Thomas Kroen, International Monetary Fund

**Ernest Liu, Princeton University**

**Atif R. Mian, Princeton University**

Amir Sufi, University of Chicago

Discussant: **Thomas Philippon, New York University**

3:15pm Refreshment Break

3:30pm Chair: **James Choi, Yale University**

["Intermediation via Credit Chains](https://www.nber.org/papers/w29632)"

Zhiguo He, Stanford University

**Jian Li, Columbia University**

Discussant: **Itay Goldstein, University of Pennsylvania**

4:30pm  Reception