Agenda
| Welcome |
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| Michael Moskow, President, Federal Reserve Bank of Chicago Claudio Borio, Bank for International Settlements W. Curt Hunter, Federal Reserve Bank of Chicago |
| Session 1: Theory of Market Discipline | |
|---|---|
| Literature Review | Jean-Charles Rochet, Toulouse University |
| Elements of Effective Discipline: Information, Incentives, Mechanisms, Legal Systems | Robert Bliss, Federal Reserve Bank of Chicago |
| Regulated versus Nonregulated Industries and Private versus Sovereign Activities | Hal Scott, Harvard Law School Discussant Kostas Tsatsaronis, Bank for International Settlements |
| Session 2: Evidence of Market Discipline in Banking | |
|---|---|
| United States | Mark Flannery, University of Florida Stanislava Nikolova, University of Florida |
| Europe | Reint Gropp, European Central Bank |
| Japan and Asia | Mitsuhiro Fukao, Keio University |
| Emerging Economies | Eduardo Levy-Yeyati, Universidad Torcuato Di Tella Discussant David Llewellyn, Loughborough University |
| Dinner and Keynote Speaker | Thomas Jones, Vice Chairman, International Accounting Standards Board |
| Session 3: Evidence of Market Discipline in Other Industries | |
|---|---|
| Breakfast and Keynote Speaker | Anne Krueger, First Deputy Managing Director, International Monetary Fund |
| Insurance | Scott Harrington, University of South Carolina |
| Market Discipline, Agency Problems and Conflicts of Interest in Financial Services Firms | Ingo Walter, New York University |
| Nonfinance | Clifford Smith, Jr., University of Rochester Discussant Raghuram Rajan, University of Chicago |
| Session 4: Evidence of Market Discipline for Countries | |
|---|---|
| Ex-Ante Discipline before Crises | Nouriel Roubini, New York University |
| Ex-Ante Discipline before Crises | Kristen Forbes, Massachusetts Institute of Technology |
| Ex-Post Discipline after Crises | Andrew Rose, University of California at Berkeley Discussant Andrew Haldane, Bank of England |
| Lunch and Keynote Speaker | Malcolm D. Knight, General Manager, Bank for International Settlements |
| Session 5: Current State of Corporate Governance | |
|---|---|
| United States | Frank Edwards, Columbia University |
| United States | Michael Jensen, Monitor Group and Harvard University |
| Europe | Colin Mayer, Oxford University |
| Japan and Asia | Hugh Patrick, Columbia University |
| Cross Country | Andrew Crockett |
| Session 6: Interaction of Market Discipline and Public Policy | |
|---|---|
| Accounting and Disclosure | George Benston, Emory University |
| Accounting and Disclosure | Mary Barth, Stanford University |
| Legal Framework | Charles Elson, University of Delaware Discussant Shyam Sunder, Yale University |
| Dinner and Keynote Speaker | Susan Schmidt Bies, Member of the Board of Governors of the Federal Reserve System |
| Session 7: Interaction of Market Discipline and Public Policy | |
|---|---|
| Breakfast and Keynote Speaker | Jaime Caruana, Governor, Bank of Spain and Chairman, Basel Committee on Banking Supervision |
| Can the Unsophisticated Market Provide Discipline? | Gerard Caprio, World Bank Patrick Honohan, World Bank |
| Supervisory Review | Richard Herring, University of Pennsylvania |
| Sovereign Countries | Richard Portes, London Business School and Columbia University Discussant Charles Freedman, Bank of Canada |
| Session 8: Policy Panel |
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| Charles Calomiris, Columbia University Christine Cumming, Federal Reserve Bank of New York Lawrence Harris, Security and Exchange Commission Patricia Jackson, Bank of England and Basel Committee on Banking Supervision TBA, International Association of Insurance Supervisors |
| Organising Committee |
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| Claudio Borio, Bank for International Settlements W. Curt Hunter, Federal Reserve Bank of Chicago George G. Kaufman, Loyola University Chicago and Federal Reserve Bank of Chicago Kostas Tsatsaronis, Bank for International Settlements |