Banks, Markets and Financial Innovation. Efficiency, Systemic Risks and the Role of Regulation

Università Bocconi
Milan, 2013 May 24^th

Welcome address

Andrea Sironi
Rector, Università Bocconi

Vittorio Conti
CONSOB

Keynote Speech

David Wright
IOSCO

Session I Securities Markets

Chair: Francesco Saita, Università Bocconi

The Causes and Consequences of Going Public. Firm-Level Evidence from Twelve European Countries

Fabio Panetta, Andrea Generale, Federico M. Signoretti (paper - presentation)
Discussant: Andrea Beltratti, Università Bocconi

Identifying Cross-Sided Liquidity Externalities

Johannes A. Skjeltorp, Elvira Sojli, Wing Wah Tham (paper - presentation)
Discussant: Mario Anolli, Università Cattolica del Sacro Cuore, Milano

Circuit Breakers and Market Runs

Sarah Draus, Mark Van Achter (paper - presentation)
Discussant: Nadia Linciano, CONSOB

Session II Systemic Risk and Contagion

Chair: Giovanni Siciliano, CONSOB

Endogenous Banks' Networks, Cascades and Systemic Risk

Marcel Bluhm, Ester Faia, Jan Pieter Krahnen (paper - presentation)
Discussant: Umberto Cherubini, Università di Bologna

Financial Contagion During Lehman Default and Sovereign Debt Crisis

Monica Gentile, Luca Giordano (paper - presentation)
Discussant: Paolo Colla, Università Bocconi

Measuring Sovereign Contagion in Europe

Massimiliano Caporin, Loriana Pelizzon, Francesco Ravazzolo, Roberto Rigobon
(paper - presentation)
Discussant: Francesco Corielli, Università Bocconi

Session III Bank Regulation

Chair: Franco Bruni, Università Bocconi

The Manipulation of Basel Risk-Weights

Mike Mariathasan, Ouarda Merrouche, Charlotte R. Werger (paper - presentation)
Discussant:  Andrea Resti,  Università Bocconi

Catharsis: Tracing the Real Effects of Bank Insolvency and Resolution

Josef A. Korte (paper - presentation)
Discussant: Carlo Domenico Mottura, Università degli Studi Roma Tre

Banking and Trading

Arnoud W.A. Boot, Lev Ratnovski (paper - presentation)
Discussant: Elena Carletti, EUI

Concluding Remarks

Marco Onado, Università Bocconi