Program
Thursday, April 10
6:30 pm
Dinner – Micklethwait Barbecue
4602 Tanney St Austin, TX 78721
Friday, April 11
Morning
Session Chair: Laura Starks
Guadalupe Classroom, 4th Floor Rowling Hall
8:00-9:00 am
Registration and breakfast – Lavaca Classroom, 4th Floor Rowling Hall
9:00-10:00 am
“The Subjective Belief Factor”
Authors: Sean Myers (Wharton), Ricardo De La O (USC), and Tingyue Cui (Wharton)
Discussant: Andrea Vedolin (Boston University)
10:00-10:15 am
Break
10:15-11:15 am
“Certain vs. Uncertain Timing”
Authors: Indira Puri (NYU)
Discussant: Ian Dew-Becker (Federal Reserve Bank of Chicago)
11:15-11:30 am
Break
11:30 am – 12:30 pm
“The Debt Ceiling’s Disruptive Impact: Evidence from Many Markets”
Authors: Will Cassidy (Washington University in St. Louis) and Shreye Mirani (Washington University in St. Louis)
Discussant: Kumar Ventkataraman (Southern Methodist University)
12:30-2:00 pm
Lunch – Lavaca Classroom, 4th Floor Rowling Hall
Afternoon
Session Chair: Sheridan Titman
Classroom 202
2:00-3:00 pm
“Incentives to Lose: Disclosure of Cover Bids in OTC Markets”
Authors: Andrey Ordin (University of Texas at Austin) and Ruslan Sverchkov (Warwick)
Discussant: Zhaogang Song (Johns Hopkins University)
3:00-3:15 pm
Break
3:15-4:15 pm
“Speculation, Forward Exchange Demand and CIP Deviations in Emerging Economics”
Authors: Pierre De Leo (Maryland), Lorena Keller (Wharton), and Dongchen Zou (Wharton)
Discussant: Adrien Verdelhan (MIT)
4:15-4:30 pm
Break
4:30-5:30 pm
“The Real Effects of Bankruptcy Forum Shopping”
Authors: Sam Antill (HBS) and Aymeric Bellon (UNC)
Discussant: Ben Iverson (BYU)
5:45 pm
Depart for Dinner Cruise (bus available for out-of-town attendees)
6:15 pm
Boat departs from the LCRA landing behind the LCRA’s Jack Miller Building (3701 Lake Austin Blvd.)
Parking is available in the LCRA headquarters visitor parking lot or garage (across the street at 3700 Lake Austin Blvd.)
Saturday, April 12
Morning
Session Chair: John Griffin
Lady Bird Johnson Wildflower Center
4801 La Crosse Ave., Austin, TX 78739
7:30 am
Depart for Lady Bird Johnson Wildflower Center (bus available for out-of-town attendees)
8:00-9:00 am
Breakfast – Great Hall
9:00-10:00 am
“Poverty Spreads in Deposit Markets”
Authors: Emilio Bisetti (HKUST) and Arkodipta Sarkar (National University of Singapore)
Discussant: Umit Gurun (University of Texas at Dallas)
10:00-10:15 am
Break
10:15-11:15 am
“Optimal Credit Scores Under Adverse Selection”
Authors: Nicole Immorlica (Microsoft Research), Andre Sztutman (Carnegie Melon), and Robert Townsend (MIT)
Discussant: Uday Rajan (University of Michigan)
11:15-11:30 am
Break
11:30 am – 12:30 pm
“The Real Effects of GSE Redistribution: Evidence from Difference-in-Discontinuity Estimates”
Authors: You Suk Kim (Federal Reserve Board), Feng Liu (CFPB), and David Zhang (Rice)
Discussant: Dragana Cvijanovic (Cornell)
12:30-1:30 pm
Lunch – Great Hall
Accommodations
AT&T Executive Education & Conference Center
1900 University Avenue
Austin, TX 78705
Call: 512-404-1900
Toll Free: 877-744-8822
Room Block Information
Conference rate: $204/night
The reservation cutoff date is March 14, 2025.
Other Area Hotels
We do not have room blocks at these hotels.
Hampton Inn & Suites Austin at The University/Capitol
1701 Lavaca Street
Austin, TX 78701
Phone: 512-499-8881
Hotel Ella
1900 Rio Grade Street
Austin, TX 78705
Phone: 512-495-1800
DoubleTree Suites by Hilton Hotel
303 W. 15th Street
Austin, TX 78701
Phone: 512-478-7000
AC Hotel Austin-University
1901 San Antonio Street
Austin, TX 78705
Phone: 512-473-7000
Hilton Garden Inn Austin-University Capitol District
301 W. 17th Street
Austin, TX 78701
Phone: 512-319-3333
Organization
History and Programs
The first meeting of the Texas Finance Festival (TFF) was in Kerrville, Texas, in 1999. The Kerrville Folk Music Festival is held annually in Kerrville, thus the name for our conference. Since then, the conference has been held in Austin, Horseshoe Bay, Marble Falls, and San Antonio.
2024 Program
“Financing the Global Shift to Electric Mobility”
Authors: Jan Bena (The University of British Columbia), Bo Bian (The University of British
“Green Labeling”
Authors: Tuomas Tomunen (Boston College) and Livia Yi (Boston College)
“A New Test for an Old Puzzle”
Authors: Lorenzo Bretscher (University of Lausanne), Peter Feldhutter (Copenhagen Business School), Andrew Kane (Duke), and Lukas Schmid (University of Southern California)
“Corporate Bond Issuance by Financial Institutions and Economic Cycle”
Authors: Tetiana Davydiuk (Johns Hopkins), Tatyana Marchuk (Norwegian Business School), and Ivan Shaliastovich (University of Wisconsin-Madison)
“Misallocation and Asset Prices”
Authors: Winston Wei Dou (University of Pennsylvania), Yan Ji (HKUST), Di Tian (HKUST) and Pengfei Wang (PKU)
“How Do Health Insurance Costs Affect Firm Labor Composition and Technology Investment?”
Authors: Janet Gao (Georgetown University), Shan Ge (New York University), Lawrence D. W. Schmidt (MIT) and Christina Tello-Trillo (University of Maryland)
“Bailing out (Firms’) Uninsured Deposits: A Quantitative Analysis”
Authors: Aaron Pancost (The University of Texas at Austin), and Roberto Robatto (University of Wisconsin-Madison)
“Specialized Lending when Big Data Hardens Soft Information”
Authors: Zhiguo He (University of Chicago), Jing Huang (Texas A&M), and Cecilia Parlatore (New York University)
“Excess Commitment in R&D”
Authors: Marius Guenzel (University of Pennsylvania), and Tong Liu (MIT)
2022 Program
“What Drives Investors’ Portfolio Choices? Separating Risk Preferences from Frictions”
By: Taha Choukhmane (MIT), Tim de Silva (MIT)
“Intermediation via Credit Chains”
By: Zhiguo He (University of Chicago), Jian Li (Columbia University)
“Siphoned apart: A Portfolio Perspective of Payment for Order Flow”
By: Markus Baldauf (University of Chicago), Joshua Mollner (Northwestern University), Bart Zhou Yoeshen (INSEAD)
“Illiquidity and Inequality”
By: Daniel Neuhann (UT-Austin), Michael Sockin (UT-Austin)
“The Dema“The Demand for Long-term Mortgage Contracts and the Role of Collateral”
By: Lu Liu (Wharton)
“Optimal Time-Consistent Debt Policies”
By: Andrey Malenko (University of Michigan), Anton Tsoy (University of Toronto)
“Bad News Bankers: Underwriter Reputation and Contagion in Pre-1914 Sovereign Debt Markets”
By: Sasha Indarte (Wharton)
“Product Differentiation and Oligopoly: A Network Approach”
By: Bruno Pellegrino (University of Maryland)
“Shocks and Technology Adoption: Evidence from Electronic Payment Systems”
By: Nicolas Crouzet (Northwestern University), Apoorv Gupta (Dartmouth College), Filippo Mezzanotti (Northwestern University)
2021 Program
“How Integrated Are Corporate Bond and Stock Markets?”
By: Mirela Sandulescu (Michigan)
“Information Chasing versus Adverse Selection”
By: Gabor Pinter (Bank of England), Chaojun Wang (Wharton), and Junyuan Zou (INSEAD)
“Monetary Policy Transmission in Segmented Markets”
By Yiming Ma (Columbia), Anthony Lee Zhang (Chicago), and Jens Eisenschmidt (European Central Bank)
“LTCM Redux? Hedge Fund Treasury Trading and Funding Fragility during the COVID-19 Crisis”
By: Mathias Kruttli (Federal Reserve Board), Phillip Monin (Federal Reserve Board), Lubomir Petrasek (Federal Reserve Board), and Sumudu Watugala (Cornell)
“Does Political Partisanship Cross Borders? Evidence from International Capital Flows”
By: Elisabeth Kempf (Chicago), Mancy Luo (Erasmus), Larissa Schaefer (Frankfurt), and Margarita Tsoutsoura (Cornell)
“Bond Market Stimulus: Firm-Level Evidence from 2020-21”
By: Olivier Darmouni (Columbia) and Kerry Siani (Columbia)
“Regulatory Costs of Being Public: Evidence from Bunching Estimation”
By: Michael Ewens (Cal Tech), Kairong Xiao (Columbia), and Ting Xu (Virginia Darden)
“Externalities as Arbitrage”
By: Ben Hebert (Stanford)
“How Costly is Noise? Data and Disparities in Consumer Credit”
By: Laura Blattner (Stanford) and Scott Nelson (Chicago)
“FinTech Lending and Cashless Payments”
By: Pulak Ghosh (Indian Institute of Management), Boris Vallee (Harvard), and Yao Zeng (Wharton)
“Did Fintech Lenders Facilitate PPP Fraud?”
By: John Griffin (UT-Austin), Sam Kruger (UT-Austin), and Prateek Mahajan (UT-Austin)