Christian Kubitza about the 2017 ASSA Annual Meeting
| Written by | Christian Kubitza |  |
| Name of the conference | 2017 ASSA Annual Meeting | |
| Venue | Chigago, US | |
| Date | 6-8 January 2017 | |
| Paper presented | Spillover Duration of Stock Returns and Systemic Risk (joint with Helmut Gründl) |
Key Message of my paper
Equity shocks of financial institutions can have a persistently adverse impact on financial and non-financial markets. We show that the duration of these spillovers is approximately one month and that the resulting systemic risk of investment banks is significantly larger and more persistent than that of insurers.
What I noticed
- A major part of the presentations was concerned with financial stability and regulation of financial markets.
- The job market associated with the conference seems to consume substantial time for most participants.
This person surprised me
I found it very refreshing that Stephen Berger from Citadel (a large hedge fund) highlighted the achievements of recent financial regulation (e.g. central clearing).
I plan to take a closer look at this paper
Foley-Fisher, Narajabad, Verani (2016): Securities Lending as Wholesale Funding. The paper sheds light on an important topic that should be discussed more intensively.
The main topics discussed between the sessions
The job market and a career in academia as well as the economic implications of the US presidential election.
What I take away for my research
Take more time to read other research more often and more carefully.