Opening Remarks

Ron Morrow (Bank of Canada, Canada)

Session 1: Banking Regulation

Chair: Miguel Molico (Bank of Canada, Canada)

Optimal Bank Regulation in the Presence of Credit and Run Risk

Anil K. Kashyap (Booth School of Business, University of Chicago, United States; Bank of England, United Kingdom), Dimitrios P. Tsomocos (Saïd Business School, University of Oxford, United Kingdom), Alexandros Vardoulakis (Board of Governors of the Federal Reserve System, United States)

Banking Dynamics and Capital Regulation

José-Víctor Ríos-Rull (Department of Economics, University of Pennsylvania, United States), Tamon Takamura (Bank of Canada, Canada), Yaz Terajima (Bank of Canada, Canada)

Session 2: Housing

Chair: Yaz Terajima (Bank of Canada, Canada)

Deterioration of Bank Balance Sheets and Housing Crisis

Yavuz Arslan (Bank for International Settlements, Switzerland), Bulent Guler (Department of Economics, Indiana University at Bloomington, United States), Burhanettin Kuruscu (Department of Economics, University of Toronto, Canada)

Housing Prices and Consumer Spending: The Bank Balance Sheet Channel

Nuno Paixão (Bank of Canada, Canada)

Do Financial Constraints Cool a Housing Boom?

Lu Han (Department of Economics, University of Toronto, Canada), Chandler Lutz (Department of Economics, Copenhagen Business School, Denmark), Benjamin M. Sand (Department of Economics, York University, Canada), Derek Stacey (Department of Economics, Ryerson University, Canada)

Session 3: Limits to Arbitrage in Foreign Exchange Markets

Chair: Alexander Ueberfeldt (Bank of Canada, Canada)

A Macroeconomic Model with Financial Panics

Mark Gertler (Department of Economics, NYU, United States), Nobuhiro Kiyotaki (Department of Economics, Princeton, United States), Andrea Prestipino (Board of Governors of the Federal Reserve System, United States)

Money, Banking and Financial Markets

David Andolfatto (Federal Reserve Bank of St. Louis, United States), Aleksander Berentsen (University of Basel, Switzerland; Federal Reserve Bank of St. Louis, United States), Fernando M. Martin (Federal Reserve Bank of St. Louis, United States)

Money and Banking in a New Keynesian Model

Monika Piazzesi (Department of Economics, Stanford University, United States), Martin Schneider (Department of Economics, Stanford University, United States)