| Programme | ||
| 09:30 - 10:00 | Registration Morning Session Chair: Rafael Repullo (CEMFI)  | 
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| 10:00 - 11:30 | Patrick Bolton (Columbia Business School) Market Timing, Investment, and Risk Management (joint with Hui Chan and Neng Wang) Discussant: José S. Penalva (UC3M)  | 
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| 11:30 - 12:00 | Coffee break   | 
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| 12:00 - 13:30 | Andres Almazan (McCombs School of Business, University of Texas)  Debt, Labor Markets, and the Creation and Destruction of Firms (joint with Adolfo de Motta and Sheridan Titman) Discussant: Marcel Jansen (UAM)  | 
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| 13:30 - 14:45 | Lunch Afternoon Session Chair: Enrique Sentana (CEMFI)  | 
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| 14:45 - 16:15 | Tanju Yorulmazer (Federal Reserve Bank of New York)  Liquidity Hoarding (joint with Douglas Gale) Discussant: David Martínez-Miera (UC3M)  | 
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| 16:15 - 16:45 | Coffee break  | 
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| 16:45 - 18:15 | Javier Suarez (CEMFI)  Dynamic Maturity Transformation (joint with Anatoli Segura) Discussant: Ed Green (Pennsylvania State University)  | 
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| 18:15 - 18:30 | Break  | 
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18:30 - 20:00 
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          Panel Discussion: The Financing of SMEs  | 
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Click here to download the programme.