Registration and Breakfast
8:00 AM
Welcome
8:30–8:35 AM
Loretta J. Mester, President and Chief Executive Officer, Federal Reserve Bank of Cleveland
Opening Remarks
8:35–8:45 AM
Emre Ergungor, Assistant Vice President and Economist, Federal Reserve Bank of Cleveland
Individual Investors
8:45–10:15 AM
Chair: Emre Ergungor, Assistant Vice President and Economist, Federal Reserve Bank of Cleveland
Presenter: Maya Shaton, University of Chicago Booth School of Business
The Display of Information and Household Investment Behavior
Discussant: Clifton Green, Emory University
Paper Presentation Discussion
Presenter: Santosh Anagol, University of Pennsylvania
The Effects of Experience on Investor Behavior: Evidence from India's IPO Lotteries
Co-authors: Vimal Balasubramaniam, University of Oxford; Tarun Ramadorai, University of Oxford
Discussant: Shimon Kogan, IDC Herzliya and University of Texas at Austin
Paper Presentation Discussion
Presenter: Daniel Weagley, Georgia Institute of Technology
Can Individual Investors Time Bubbles?
Co-authors: Jussi Keppo, National University of Singapore; Tyler Shumway, University of Michigan
Discussant: James Choi, Yale University
Paper Presentation Discussion
Break
10:15–10:30AM
Experiences and Expectations
10:30–Noon
Chair: Hal Martin, Federal Reserve Bank of Cleveland
Presenter: DuckKi Cho, Arizona State University
Ephemeral Experiences, Long Lived Impact: Disasters and Portfolio Choice
Co-author: Sreedhar Bharath, Arizona State University)
Discussant: Lisa Kramer, University of Toronto
Paper Presentation
Presenter: Leslie Shen, University of California at Berkeley
Experience Effects in Consumption
Co-author: Ulrike Malmendier, University of California, Berkeley
Discussant: John Beshears, Harvard University
Paper Presentation
Presenter: Raphael Schoenle, Brandeis University
YOLO: Mortality Beliefs and Household Finance Puzzles.
Co-authors: Rawley Heimer, Federal Reserve Bank of Cleveland; Kristian Ove Myrseth, University of St. Andrews
Discussant: Zoran Ivkovich, Michigan State University
Paper Presentation Discussion
Lunch
Noon–1:15 PM
Keynote Address: Ellis W. Tallman, Senior Vice President and Director of Research, Federal Reserve Bank of Cleveland
The Macro View
1:15–2:45 PM
Chair: Bruce Fallick, Federal Reserve Bank of Cleveland
Presenter: Michael Weber, University of Chicago
Inflation Expectations and Consumption Expenditure
Co-authors: Francesco D'Acunto, University of California, Berkeley), Daniel Hoang, Karlsruhe Institute of Technology)
Discussant: Ruediger Bachmann, University of Notre Dame
Paper Presentation Discussion
Presenter: David Baqaee, Harvard University
Asymmetric Inflation Expectations, Downward Rigidity of Wages, and Asymmetric Business Cycles
Discussant: Cosmin Ilut, Duke University
Paper Presentation Discussion
Presenter: Carola Binder, Haverford College
Consumer Inflation Uncertainty and the Macroeconomy: Evidence from a New Micro-Level Measure
Discussant: Randal Verbrugge, Federal Reserve Bank of Cleveland
Paper Presentation Presentation
Break
2:45–3:00 PM
Distress
3:00–4:30 PM
Chair: Yuliya Demyanyk, Federal Reserve Bank of Cleveland
Presenter: Philippe d'Astous, Georgia State University
Liquidity Constraints and Credit Card Delinquency: Evidence from Raising Minimum Payments
Co-author: Stephen Shore, Georgia State University)
Discussant: Noah Stoffman, Indiana University
Paper Discussion
Presenter: Jialan Wang, Consumer Financial Protection Bureau
Minimum Payments and Debt Paydown in Consumer Credit Cards
Co-author: Benjamin Keys, University of Chicago)
Discussant: Umit Gurun, University of Texas, Dallas
Discussion
Presenter: Brian Baugh, Ohio State University
Interrupting the Debt Trap: Evidence from Online Payday Loan Policy Interventions
Discussant: Brian Melzer, Northwestern University
Discussion
Adjourn
4:30 PM
