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WORKSHOP ON CORPORATE FINANCING AND EUROPEAN INVESTMENT FINANCING
CEPR- ASSONIME
Said Business School, University of Oxford
27th March, 2015
Programme
THURSDAY 26 MARCH
Jesus College, Turl Street (Mansell Room)
19.00
Conference Dinner
FRIDAY 27 MARCH
Saïd Business School, Lecture Theatre 8 (West Wing, 1st Floor)
08.00-08.30
Coffee and Registration
08.30-09.00
Introduction to RELTIF programme and workshop
Session 1
Chair:
Real Effects of the Sovereign Debt Crisis
Marco Pagano (Università di Napoli Federico II, EIEF and CEPR)
09.00-09.45
Debt Overhang in Europe: Evidence from Firm-Bank-Sovereign Linkages
Sebnem Kalemli-Özcan (University of Maryland and CEPR) *Luc Laeven (ECB and
CEPR) and David Moreno (University of Maryland)
Discussant:
Enrique Schroth (Cass Business School)
09.45-10.30
Real Effects of the Sovereign Debt Crisis in Europe: Evidence from Syndicated Loans
Viral V. Acharya, *Tim Eisert (Erasmus University Rotterdam), Christian Eufinger (IESE
Business School) and Christian Hirsch (Goethe University Frankfurt)
Discussant:
Vasso Ioannidou (Lancaster University and CEPR)
10.30-11.00
Coffee Break
11.00-11.45
When Credit Dries Up: Job Losses in the Great Recession
*Samuel Bentolila (CEMFI and CEPR), Marcel Jansen (Universidad Autónoma de
Madrid), Gabriel Jiménez (Banco de España, Madrid) and Sonia Ruano (Banco de
España, Madrid)
Discussant:
José Liberti (DePaul University)
Session 2
Chair:
Collateral, Relationships and Access to Finance
Andrea Polo (Universitat Pompeu Fabra and Barcelona GSE)
11.45-12.30
Housing Collateral and Entrepreneurship
Martin C. Schmalz (University of Michigan), David A. Sraer (UC Berkeley and CEPR)
and *David Thesmar (HEC Paris and CEPR)
Discussant:
Thomas Hellmann (Saïd Business School, Oxford University)
12.30-14.00
Lunch
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14.00-14.45
How Collateral Laws Shape Lending and Sectoral Activity
Charles W. Calomiris (Columbia University), *Mauricio Larrain (Columbia Business
School), José Liberti (DePaul University) and Jason Sturgess (DePaul University)
Discussant:
Paolo Volpin (Cass Business School and CEPR)
14.45-15.30
When Arm’s Length is Too Far. Relationship Banking over the Credit Cycle
*Thorsten Beck (Tilburg University, Cass Business School and CEPR), Hans Degryse
(Catholic University of Leuven, European Banking Center and CEPR), Ralph de Haas
(EBRD) and Neeltje van Horen (De Nederlandsche bank)
Discussant:
Nicolas Serrano Velarde (Università Bocconi)
15.30-15.45
Coffee Break
Session 3
Chair:
Monetary Policy, Market Freezes and Access to Finance
Colin Mayer (Saïd Business School, Oxford University and CEPR)
15.45-16.30
Sovereign Stress, Non-conventional Monetary Policy, and SME Access to Finance
Annalisa Fernando (ECB), *Alex Popov (ECB) and Gregory Udell (Indiana University)
Discussant:
José Luis Peydrò (Universitat Pompeu Fabra and CEPR)
16.30-17.15
Money Market Freeze and Foreign Currency Borrowing
*Philippe Bacchetta (Université de Lausanne and CEPR) and Ouarda Merrouche
(University of Lausanne and CEPR)
Discussant:
Clemens Otto (HEC, Paris)
17.15-17.30
Concluding Remarks and Summing Up
*Indicates the presenter. Each paper presentation will be 20 minutes long, followed by 10 minutes for the
discussant and 15 minutes for general discussion.
Organisers:
Colin Mayer (Saïd Business School, Oxford University and CEPR)
Marco Pagano (Università di Napoli Federico II, EIEF and CEPR)
Andrea Polo (Universitat Pompeu Fabra and Barcelona GSE)
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