2nd Workshop on Financial Intermediation and Corporate Debt Markets

13:50 -- 14:00 — Introductory Remarks

14:00 -- 16:00 — Session 1: Large Banks and Bank Concentration (Chair: Max Bruche)

Survival of the Biggest: Large Banks and Crises since 1870 (Baron, Schularick, Zimmermann)
Presenter: Kaspar Zimmermann (SAFE)
Discussant: Daniel Streitz (IWH Halle)

Market Concentration in Fintech (Corbae, d'Erasmo, Liu)
Presenter: Pablo d'Erasmo (Federal Reserve Bank of Philadelphia)
Discussant: Melissa Prado (Nova SBE)

16:00 -- 16:30 — Coffee break

16:30 -- 18:30 — Session 2: Government Intervention in Debt Markets (Chair: Max Bruche)

Decomposing Employment Effects of a Government Support Program: Hires, Exits and Reallocation (Bonfim, Custodia, Raposo)
Presenter: Diana Bonfim (Banco de Portugal)
Discussant: Björn Imbierowicz (Deutsche Bundesbank)

The Effects of Loan Guarantee Coverage on Credit Additionality: Evidence from a Covid-19 Public Support Program (Cascarino, Palazzo, Sette, Gallo)
Presenter: Francesco Palazzo (Banca d'Italia)
Discussant: Diogo Mendes (Stockholm School of Economics)

08:30 -- 10:30 — Session 3: Central Bank Interventions in Markets (Chair: Philipp König)

Do Non-Banks Need Access to the Lender-of-Last-Resort? (Breckenfelder, Hoerova)
Presenter: Marie Hoerova (ECB)
Discussant: Yigitcan Karabulut (Frankfurt School of Finance & Management)

Whatever It Takes? Market-Maker-of-Last-Resort and Its Fragility (Choi, Yorulmazer)
Presenter: Tanju Yorulmazer (Koç University)
Discussant: Natalya Martynova (Deutsche Bundesbank)

10:30 -- 11:00 — Coffee break

11:00 -- 13:00 — Session 4: New Currencies (Chair: Philipp König)

Jumpstarting an International Currency (Bahaj, Reis)
Presenter: Saleem Bahaj (University College London)
Discussant: Egemen Eren (BIS)

Can Stablecoins be Stable? (d'Avernas, Maurin, Vandeweyer)
Presenter: Adrien d'Avernas (Stockholm School of Economics)
Discussant: Toni Ahnert (ECB)