Welcome:Monica Billio (Ca’ Foscari University of Venice & GRETA)
Opening Remarks:Alain Monfort (CREST-Paris, Programme Chair)

• Key-note talk: A Macrofinance Perspective of Interest Rates and Credit Risk Modelling
  Jean-Paul Renne (University of Lausanne)

• Bank Business Models at Zero Interest Rates
  André Lucas (Vrije Universiteit Amsterdam), Julia Schaumburg (Vrije Universiteit Amsterdam) and Bernd Schwaab (European Central Bank)
  Discussant: Marcella Lucchetta (Ca’ Foscari University of Venice)

• Feedback Between Credit and Liquidity Risk in the US Corporate Bond Market
  Rob C. Sperna Weiland (University of Amsterdam), Roger J.A. Laeven (University of Amsterdam) and Frank de Jong (Tilburg University)
  Discussant: Jean-Paul Renne (University of Lausanne)

• Did ECB Liquidity Injections Help The Real Economy?
  Stine Louise Daetz (Danmarks Nationalbank & Copenhagen Business School), Marti G. Subrahmanyam (New York University), Dragon Yongjun Tang (University of Hong Kong) and Sarah Qian Wang (University of Warwick)
  Discussant: Antonio Paradiso (Ca’ Foscari University of Venice)

• Central Bank Policy Announcement and Changes in Investment Behaviour: Evidence from Micro Data in Bond Futures Markets
  Koichiro Kamada (Bank of Japan), Tetsuo Kurosaki (Bank of Japan), Ko Miura (Bank of Japan) and Tetsuya Yamada (Bank of Japan)
  Discussant: Sergio Mayordomo Gomez (Bank of Spain)

• Does Monetary Policy Impact Market Integration? Evidence from Developed and Emerging Markets
  Massimiliano Caporin (University of Padua), Loriana Pelizzon (SAFE-Goethe University Frankfurt & Ca’ Foscari University of Venice) and Alberto Plazzi (Institute of Finance, Università della Svizzera Italiana & Swiss Finance Institute)
  Discussant: Stephen Schaefer (London Business School)

• Key-note talk: Stress Testing, Design, Interpretation and Quality Control
  Thomas Philippon (New York University)
  

• Bank Deposits and Liquidity Regulation: Evidence from Ethiopia
  Nicola Limodio (Bocconi University) and Francesco Strobbe (World Bank)
  Discussant: Michele Costola (SAFE-Goethe University Frankfurt)

• Optimal Bank Resolution
  Ansgar Walther (University of Warwick) and Lucy White (Boston University)
  Discussant: Jan Pieter Krahnen (SAFE-Goethe University Frankfurt)

• The Value of Innovation for VC Backed Startups
  Helmut Kraemer-Eis (European Investment Fund), Simone Signore (European Investment Fund) and Wouter Torfs (European Investment Fund)
  Discussant: Loriana Pelizzon (SAFE-Goethe University Frankfurt & Ca’ Foscari University of Venice)

• Government Ownership of Banks and Corporate Innovation
  Bo Bian (London Business School), Rainer Haselmann (SAFE--Goethe University Frankfurt) Vikrant Vig (London Business School) and Beatrice Weder di Mauro (INSEAD Singapore)
  Discussant: Bruno Maria Parigi (University of Padua)

• Life Below Zero: Bank Lending Under Negative Policy Rates
  Florian Heider (European Central Bank & CEPR), Farzad Saidi (Stockholm School of Economics & CEPR) and Glenn Schepens (European Central Bank)
  Discussant: Marcello Pericoli (Bank of Italy)

• How Banks Respond to Negative Interest Rates: Evidence from the Swiss Exemption Threshold
  Christoph Basten (University of Zurich) and Mike Mariathasan (KU Leuven)
  Discussant: Bernd Schwaab (European Central Bank)

• How Would U.S. Banks Fare in a Negative Interest Rate Environment?
  David M. Arseneau (Federal Reserve Board)
  Discussant: Federico Nucera (LUISS Guido Carli University)

• Assessing the Costs and Benefits of Capital-based Macroprudential Policy
  Markus Behn (European Systemic Risk Board), Marco Gross (European Systemic Risk Board) and Tuomas Peltonen (European Systemic Risk Board)
  Discussant: Matteo Benetton (London School of Economic)

• The Anatomy of the Transmission of Macroprudential Policies: Evidence from Ireland
  Viral V. Acharya (Reserve Bank of India), Katharina Bergant (Central Bank of Ireland), Matteo Crosignani (Federal Reserve Board), Tim Eisert (Erasmus University Rotterdam) and Fergal McCann (Central Bank of Ireland)
  Discussant: Roberto Savona (University of Brescia)

• Helping the Middle-Class: How Interest Rates Affect the Distribution of Housing Wealth
  Isaac Hacamo (Indiana University)
  Discussant: Steven Ongena (University of Zurich, Swiss Finance Institute, KU Leuven & CEPR)

• The V in LTV - Evidence from European DataWarehouse
  Ludovic Thebault (European DataWarehouse)
  Discussant: Andrea Giacomelli (Knowshape & GRETA)

Participants:
Davide Alfonsi (Intesa Sanpaolo)
Eric Barthalon (Allianz Investment Management SE)
Pier Luigi Gilibert (European Investment Fund)
Loriana Pelizzon (SAFE-Goethe University Frankfurt & Ca' Foscari University of Venice)
Thomas Philippon (New York University)

• Key-note talk: Deposit Dynamics in Distressed Banks
  Manju Puri (Duke University)

• Asymmetric Information and the Securitization of SME Loans
  Ugo Albertazzi (Bank of Italy), Margherita Bottero (Bank of Italy), Leonardo Gambacorta (Bank for International Settlements & CEPR) and Steven Ongena (University of Zurich, Swiss Finance Institute, KU Leuven & CEPR)
  Discussant: Helmut Kraemer-Eis (European Investment Fund)