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Myron Scholes Global Markets Forum
October 21, 28 and November 4, 11 and 18, 2008, 12:00 PM - 1:00 PM
The Credit Crisis: A Lecture Series
The Initiative on Global Markets is hosting a four-part series to discuss the state of the U.S. economy. Each lecture is during the lunch hour from noon-1:00 pm and is open to the public.
October 21
The Consequences of Mortgage Credit Expansion: Subprime Lending and the Mortgage Default Crisis
Amir Sufi, Assistant Professor of Finance
Watch Video and View pdf
October 28
The Current Financial Crisis, Other Recent Crises, and the Role of Short-term Debt
Douglas Diamond, Merton H. Miller Distinguished Service Professor of Finance
Watch Video and View pdf
November 4
Securitization, Screening and Failure of Default Models to Predict Default
Amit Seru, Assistant Professor of Finance
Watch Video and View pdf
November 11
Policy Responses to the Crisis
Anil K Kashyap, Edward Eagle Brown Professor of Economics and Finance
Watch Video and View pdf
November 18, 2008
A Faculty Panel on "What the Effects Will Be and What Should be Done"
To wrap up the series of Credit Crisis lectures in our Myron Scholes Forum, a faculty panel will look forward at some likely consequences of the crisis, and will offer possible steps to resolve it and lessen its impact without setting terrible precedents.
Brian Barry, Clinical Associate Professor of Economics
John Cochrane, Myron S. Scholes Professor of Finance
Steven Kaplan, Neubauer Family Professor of Entrepreneurship and Finance
Raghuram Rajan, Eric J. Gleacher Distinguished Service Professor of Finance
Watch video, View Kaplan pdf, View Cochrane pdf, View Rajan pdf
For additional information about this topic, please read "Paulson's Gift" by Pietro Veronesi and Luigi Zingales.
This event is part of the Initiative on Global Markets and is generously sponsored by Myron Scholes.
The Initiative also receives financial support from the Chicago Mercantil Exchange (CME) Trust and our corporate partners: AQR Capital Management, Barclays Bank PLC, John Deere, and Northern Trust Corporation
Questions
Jennifer Williams
773.702.6324
Speaker Profiles
Douglas Diamondspecializes in the study of financial intermediaries, financial crises, and liquidity. His work has appeared in such notable journals as the Journal of Financial Economics, the Journal of Finance, the Review of Economic Studies, the American Economic Review, and the Journal of Political Economy. His research has been funded with grants from the National Science Foundation and the Garn Institute of Finance.
He has taught at Yale and was a visiting professor at the Hong Kong University of Science and Technology as well as the University of Bonn. He is a research associate of the National Bureau of Economic Research and worked for the Board of Governors of the Federal Reserve System while a graduate student.
In addition to his roles as a researcher and professor, Diamond is a visiting scholar at the Federal Reserve Bank of Richmond, a position he has held since 1990, and is on the Board of Directors of the Center for Research in Security Prices. Diamond is a former president of the American Finance Association and the Western Finance Association. He is also a fellow of the Econometric Society, the American Academy of Arts and Sciences, and the American Finance Association. He joined the GSB in 1979.
Diamond earned a bachelor's degree in economics from Brown University in 1975. He earned master's degrees in 1976 and 1977 and a PhD in 1980 in economics from Yale University.
Anil K Kashyapstudies banking, business cycles, corporate finance, and monetary policy. He is the author and editor of three books and numerous peer-reviewed articles. His research has won him numerous awards, including a Sloan Research Fellowship, the Nikkei Prize for Excellent Books in Economic Sciences, and a Senior Houblon-Norman Fellowship from the Bank of England.
Prior to joining the faculty in 1991, Kashyap spent three years as an economist for the Board of Governors for the Federal Reserve System. He currently works as a consultant for the Federal Reserve Bank of Chicago, as well as a Research Associate for the National Bureau of Economic Research and advisor to the Cabinet Office of the Japanese Government's research project on "Japan's Bubble, Deflation and Long-term Stagnation."
Kashyap is one of the academic members of the Bellagio Group (whose non-academic members consist of the Deputy Central Bank Governors and Vice Ministers of Finance of the G7 countries). This experience, along with his research and other consulting and advising to central banks and finance ministries around the world, has helped him create his unique elective course, Understanding Central Banks.
Besides teaching and researching, Kashyap is co-organizer of the National Bureau of Economic Research's Working Group on the Japanese Economy, a member of both the American Economic Association and American Finance Association, and cofounder of the U.S. Monetary Policy Forum. He is one of the two faculty directors of the GSB's Initiative on Global Markets.
He graduated from the University of California at Davis in 1982 with a bachelor's degree in economics and statistics with highest honors. In 1989, he earned a PhD from the Massachusetts Institute of Technology.
He enjoys rotisserie baseball, bridge, and the Indianapolis
Amit Seru'sprimary research interest is in corporate finance. He is interested in issues related to entrepreneurial finance, emerging market financial systems, incentives and performance evaluation. His papers, "Fund Manager Use of Public Information: New Evidence on Managerial Skills" with Marcin Kacperczyk and "Affiliated Firms and Financial Support: Evidence from Indian Business Groups" with Radha Gopalan and Vikram Nanda were published in the Journal of Finance and the Journal of Financial Economics, respectively.
He was a senior consultant at Accenture and an instructor at the Ross School of Business at the University of Michigan. Seru was the recipient of a Rackham Pre-Doctoral Fellowship, Dykstra Fellowship, American Finance Association Travel Grant, three Mistui Emerging Market Fellowships, two Rodkey Fellowships, and a Lt. Governor's gold medal for academic excellence. He has made presentations at the American Finance Association Meetings, European Finance Association Meetings and Western Finance Association Meetings.
Seru earned a bachelor's degree in electronics and communication in 1996 from the University of Delhi. Two years later, he earned an MBA in finance from the same institution, followed by a PhD in finance from the University of Michigan in 2007.
Amir Sufi studies the broad areas of financial intermediation, corporate finance, and consumer finance. His current research is focused on two specific areas: the macroeconomic implications of recent dramatic changes in mortgage availability and the effect of information frictions and incentive conflicts on corporate capital structure and investment policy.
His research has won numerous prizes, including the Brattle Prize for Distinguished Paper from the Journal of Finance and the inaugural Young Researcher Prize from the Review of Financial Studies. Sufi has articles in the Journal of Finance and forthcoming in the Review of Financial Studies and the Journal of Financial Economics. As a PhD student at MIT, he was awarded the Robert M. Solow Endowment Prize for Graduate Student Excellence in Teaching and Research.
Sufi graduated Phi Beta Kappa from the Walsh School of Foreign Service at Georgetown University with a bachelor's degree in economics magna cum laude in 1999. He earned a PhD in economics from the Massachusetts Institute of Technology in 2005. His dissertation was titled "The Role of Banks in Corporate Finance." He joined the GSB faculty in 2005.
Outside of academics, Sufi enjoys traveling, running, and spending time with his family. He is an avid sports fan. A Kansas native, he closely follows Jayhawk and Hoya basketball.
