Public Policy and Financial Economics

A Conference in Honor of Professor George G. Kaufman For His Lifelong Contributions and Forthcoming Retirement

November 17 and 18, 2016

More than 150 people attended the two-day conference to hear internationally recognized economists discuss developments in financial economics over the past 50 years and the implications for public policy.

All the papers and commentaries were published in a hardcopy trade volume. called Public Policy & Financial Economics: Essays in Honor of Professor George G Kaufman for His Lifelong Contributions to the Profession.

The speakers, who all worked with Professor George Kaufman during his years of scholarly research, also reflected on Professor Kaufman's scholarly contributions.

Sponsored by the Center for Financial and Policy Studies at Loyola's Quinlan School of Business and the Federal Reserve Bank of Chicago.

Event Photos

View conference photos in the gallery below or on Quinlan's Flickr page.

Agenda

Thursday, November 17

1:30–1:45 p.m.	Registration
1:45–2:15 p.m.	Introductory Remarks Honoring Professor Kaufman Kevin Stevens, Dean, Quinlan School of Business, Loyola University Chicago Robert L. Parkinson, Jr., Chair, Board of Trustees, Loyola University Chicago Charles L. Evans, President and CEO, Federal Reserve Bank of Chicago
2:15–4:15 p.m.	Papers: Overview Moderator: Gregory F. Udell, Indiana University Papers: Charles Goodhart, London School of Economics The Changing Fortunes of Central Banking Edward Kane, Boston College Financial Safety Nets: The Good, the Bad, and the Ugly Charles Calomiris, Columbia University Taming the Two 800-Pound Gorillas in the Room Richard Herring, University of Pennsylvania Shadowing Capital Regulation: 1986-2015
4:15–4:30 p.m.	Break and refreshments
4:30–6:00 p.m.	Papers: Financial Regulation Moderator: David Marshall, Federal Reserve Bank of Chicago Papers: Robert Eisenbeis, Cumberland Advisors The Fed and Structural Reforms to Reduce Interconnectedness and Promote Financial Stability Robert Bliss, Wake Forest University Franklin Edwards, Columbia University The New Failure Resolution Regulation: The Good, the Bad, and the Unknowable Randall Kroszner, University of Chicago Financial Public Policy
6:00–6:45 p.m.	Reception and refreshments

Friday, November 18

7:45–8:30 a.m.	Continental Breakfast
8:30–10:00 a.m.	Papers: Public Policy Issues Moderator: Curt Hunter, University of Iowa Papers: Allan Meltzer, Carnegie Mellon University Monetary Policy from Quantitative Easing to Negative Interest Rates Richard Rosen, Federal Reserve Bank of Chicago Defining, Measuring, and Monitoring Interest Rate and Systemic Risk at Insurance Companies Douglas D. Evanoff, Federal Reserve Bank of Chicago Tassos Malliaris, Loyola University Chicago Bubbles and Public Policy
10:00–10:15 a.m.	Break with light refreshments
10:15–11:45 a.m.	Papers: Other Financial Markets Issues Moderator: Robert Chirinko, University of Illinois at Chicago Papers: Chester Spatt, Carnegie Mellon University Securities Market Structure and Liquidity Peter Wallison, American Enterprise Institute Housing and Mortgages Robert Litan, Korein Tillery Principal-Agent Problems in Private and Public Financial Sectors
11:45–12:15 p.m.	General Discussion
12:15–1:00 p.m.	Light Lunch and Closing Remarks Harvey Rosenblum, Southern Methodist University Tassos Malliaris, Loyola University Chicago Douglas Evanoff, Federal Reserve Bank of Chicago George Kaufman, Loyola University Chicago and Federal Reserve Bank of Chicago

Conference Details

Date and Time	Thursday, November 17, 2016 1:30 p.m. to 6:45 p.m. Friday, November 18, 2016 7:45 a.m. to 1 p.m.
Location	Quinlan School of Business, 16 E. Pearson, Chicago Schreiber Center, Wintrust Hall, Floor 9 Parking and directions →
Conference Organizers	Douglas D. Evanoff Federal Reserve Bank of Chicago douglas.evanoff@chi.frb.org Professor George Kaufman Quinlan School of Business, Loyola University Chicago gkaufma@luc.edu Professor Tassos Malliaris Quinlan School of Business, Loyola University Chicago tmallia@luc.edu