# Salomon Center for the Study of Financial Institutions | 2026 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 2026 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.

**Date**:
Friday, November 20, 2026

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

**Organizers**:
Kose John and Anthony Lynch, New York University

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

**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://docs.google.com/forms/d/e/1FAIpQLSf5u9Y8MS9sCTS9741AD5yPZeLDIMiIEsbzc-PIGK7KpgR99Q/viewform?usp=dialog)

**Program**:

Author who will present is in bold.

9:00am Registration & Breakfast

9:30am Introduction: **Dean Bharat Anand**, Stern School, New York University

9:45am Chair: **TBA**

"[Aggregate Collateral Demand](https://drive.google.com/file/d/1fzhfsYCyTT3asnK1YDV42ImQu1bk2QSL/view?usp=sharing)"

Sriya L. Anbil, Board of Governors of the Federal Reserve System
**Toomas Laarits, New York University**
Chase P. Ross, Board of Governors of the Federal Reserve System
Sharon Y. Ross, Board of Governors of the Federal Reserve System

Discussant: **TBA**

10:45am Refreshment Break

11:00am Chair: **TBA**

["Rating Without Market Discipline"](https://drive.google.com/file/d/1nOT7juE_Yvb3m9x-llwp6QUAY1amCcum/view?usp=sharing)

Xuelin Li, Columbia University
**Sangmin S. Oh, Columbia University**
Giacomo Ricciardi, Columbia University

Discussant: **TBA**

12:00pm Refreshment Break

12:15pm Chair: **TBA**

"[Democratizing Private Markets: Equilibrium Predictions](https://drive.google.com/file/d/1HHLB4p0ThEDbOg5o7fdCDqSSVweKKgtg/view?usp=sharing)"

Lubos Pastor, University of Chicago
Robert F. Stambaugh, University of Pennsylvania
**Lucian A. Taylor, University of Pennsylvania**

Discussant: **TBA**

1:15pm Lunch

2:15pm Chair: **TBA**

"[Learning and the Emergence of Nonlinearity in Financial Markets](https://drive.google.com/file/d/1Y4r5BUVj8WKrODdoNkUcCzxPtSKYtsz4/view?usp=sharing)"

Ian Dew-Becker, Federal Reserve Bank of Chicago
**Stefano Giglio, Yale University**
Pooya Molavi, Northwestern University

Discussant: **TBA**

3:15pm Refreshment Break

3:30pm Chair: **TBD**

["Optimal (Un)Conventional Monetary Policy](https://drive.google.com/file/d/17ZuJcIcsov0zwD3e4KRUKCYGfguWKldU/view?usp=sharing)"

Andrey Alexandrov, Tor Vergata University of Rome
**Markus K. Brunnermeier, Princeton University**

Discussant: **TBA**

4:30pm Reception

4:45pm Keynote speaker: **Raghuam G. Rajan**, Katherine Dusak Miller Distinguished Service Professor of Finance, University of Chicago

**"TBA"**

Introduction: **Martin J. Gruber**, New York University