Macro Asset Pricing Conference

May 8-9, 2015

Friday, May 8th

12:00p.m. – 12:45p.m.

Conference Lunch

12:45p.m. – 1:30p.m.

Martin Lettau, “Capital Share Risk and Shareholder Heterogeneity in U.S. Stock Pricing (641.27 KB)

Discussant: Frederico Belo

1:30 – 2:15p.m.  

Hengjie Ai, “Financial Intermediation and Capital Misallocation (717.12 KB)

Discussant: Stavros Panageas

2:15pm – 2:30pm  Break
2:30p.m. – 3:15p.m.

Lars Lochstoer, “Asset Pricing when ‘This Time is Different (403.22 KB)’ ”

Discussant: Colin Ward

3:15p.m. – 4:00p.m.

Bob Goldstein, “Asset Pricing Implications from Wealthy Shareholder Consumption and Net Payout (286.07 KB)

Discussant: Motohiro Yogo

4:00pm – 4:15pm  Break
4:15p.m. – 5:00p.m.

Andrea Eisfeldt, “Risk and Return in Segmented Markets with Expertise”

Discussant: Santiago Bazdresch

5:00p.m. – 5:45p.m.

Stavros Panageas, “Impediments to Financial Trade: Theory and Measuremen (700.24 KB)t”

Discussant: Hengjie Ai

Saturday, May 9th

9:00a.m. – 9:15a.m. Conference Breakfast
9:15a.m. – 10:00a.m

Jules van Binsbergen, “Assessing Asset Pricing Models using Revealed Preference (332.14 KB)

                                    Discussant: Jianfeng Yu

10:00a.m. – 10:45a.m.

Frederico Belo, “External Equity Financing Shocks, Financial Flows, and Asset Prices (370.6 KB)

Discussant: Anmol Bhandari

10:45a.m. – 11:00a.m.  break
11:00a.m. – 11:45a.m.

Pietro Veronesi, “Option Based Credit Spreads (782.55 KB)

Discussant: Juliana Salomao 

11:45a.m. – 12:30p.m.

Colin Ward, “Understanding the Behavior of Distressed Stocks (457.3 KB)

Discussant: Xiaoji Lin

12:30p.m. Lunch


If you wish to attend, please register at

For any questions regarding the conference or registration please email