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Calendar

9th Workshop on Investment and Production-Based Asset Pricing

The Center for Asset Pricing Research (CAPR) at BI Norwegian Business School is hosting its 9th annual workshop on investment and production-based asset pricing. Given the evolution of the pandemic, we opt for a virtual format on Zoom.

Organizers: Alessandro Graniero and Patrick Konermann.

Program

Each paper has 45 minutes, which are divided as follows:

  • 25 minutes for the presentation,
  • 15 minutes for the discussant,
  • 5 minutes for the presenter to reply to the discussant and take questions from the audience.

Practical information

  • Time:Monday, 09 August 2021 15:55 - Tuesday, 10 August 2021 19:00
  • Place:Zoom, by invitation only

Programme

  • Time
  • Title
  • Monday, August 9

  • Welcome address

    by Paul Ehling (BI)

  • First Session

  • A grth model of the data econowomy

    Authors and Presenter: Maryam Farboodi (MIT) and Laura Veldkamp (Columbia)

    Discussant: Ilaria Piatti (Queen Mary)

    doc.link - A growth model of the data economy

  • Coffee break / Discussion with presenter in breakout room

  • Operating leverage and hedging: A tale of two production costs for asset pricing

    Authors and Presenter: Leonid Kogan (MIT), Jun Li (UT Dallas), Harold Zhang (UT Dallas), and Yifan Zhu (UT Dallas)

    Discussant: Iván Alfaro (BI)

    doc.link - Operating leverage and hedging: A tale of two production costs for asset pricing 

  • Coffee break / Discussion with presenter in breakout room

  • Psychological distance and deviations from rational expectations

    Authors and Presenter: Harjoat Bhamra (Imperial), Raman Uppal (EDHEC), and Johan Walden (UC Berkeley)

    Discussant: Zhaneta Tancheva (BI)

    doc.link - Psychological distance and deviations from rational expectations

  • Coffee break / Discussion with presenter in breakout room

  • Tuesday, August 10

  • Second Session

    Chair: Patrick Konermann (BI)

  • Welfare consequences of sustainable finance

    Authors and Presenter: Harrison Hong (Columbia), Neng Wang (Columbia), and Jinqiang Yang (SUFE)

    Discussant: Martin Oehmke (LSE)

    doc.link - Welfare consequences of sustainable finance

  • Coffee break / Discussion with presenter in breakout room

  • Rents and intangible capital: A q+ framework

    Authors and Presenter: Nicolas Crouzet (Northwestern) and Janice Eberly (Northwestern)

    Discussant: Jens Kværner (Tilburg)

    doc.link - Rents and intangible capital: A q+ framework

  • Coffee break / Discussion with presenter in breakout room

  • Debt as safe asset: Mining the bubble

    Authors and Presenter: Markus Brunnermeier (Princeton), Sebastian Merkel (Princeton), and Yuliy Sannikov (Stanford)

    Discussant: Itamar Drechsler (Wharton)

    doc.link - Debt as safe asset: Mining the bubble

  • Coffee break / Discussion with presenter in breakout room