The Russell Sage Foundation and the Century Foundation will host a conference on the financial crisis at the Princeton Club on Friday, April 13, 2012. Four panels of experts will share their assessments of discrete aspects of the crisis, point to changes that should be made in the financial industry, in government regulation, and in the thinking of economists.
At 1 p.m., Federal Reserve Chairman Ben S. Bernanke will offer his thoughts on lessons learned from the crisis. The agenda for the conference, which features leading economists, is available for download. Conference drafts can be found here and in the links presented below. Follow live coverage of the event on Twitter @russellsagefdn and with the hashtag #RethinkFinance.
- The Efficient-Market Hypothesis and the Financial Crisis
Burton G. Malkiel, Princeton University - Behavioral Finance in the Financial Crisis: Market Efficiency, Minsky, and Keynes
Hersh Shefrin, Santa Clara University andSanta Clara University - Why Did So Many People Make So Many Ex Post Bad Decisions: The Causes of the Foreclosure Crisis
Paul Willen, Federal Reserve Bank of Boston - Session Powerpoint Slides
10:00-11:00
Moderator: Robert Solow
- Ratings, Mortgage Securitizations, and the Apparent Creation of Value
John Hull, University of Toronto and Alan White, University of Toronto - The Role of ABS, CDS, and CDOs in the Credit Crisis and the Economy
Robert A. Jarrow, Cornell University - Finance vs. Wal-Mart: Why Are Financial Services So Expensive?
Thomas Philippon, New York University - Session Powerpoint Slides
11:15-12:15
Moderator: Alan Blinder
- Keynote Speaker: Ben S. Bernanke, Chairman of the Board of Governors of the Federal Reserve System: "Some Reflections on the Crisis and the Policy Response"
2:15-3:15
Moderator: Andrew Lo
Patrick Bolton, Columbia University, and Tano Santos, Columbia University, and Jose Scheinkman, Princeton University
Robert E. Litan, The Ewing Mario Kauffman Foundation
Kevin J. Murphy, University of Southern California
3:30-4:30
Moderator: Alan Blinder
J. Bradford DeLong, University of California, Berkeley
Simon Gilchrist, Boston University
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