WFA 2026
Denver
June 21 - 24, 2026
- See you soon in Denver, June 2026.
The program is tentative. There may be a little movement in the session times.
For hotel information and reservations, and conference registration, please see: westernfinance.org
Sessions
Filter:
Credit Cycles and Monetary Policy
What Does It Take? Quantifying Cross-Country Transfers in the Eurozone The Global Credit Cycle The Heterogeneous Bank Lending Channel of Monetary Policy
Microstructure Theory
Trading Against Expert Dealers Under Limited Information Spillovers Simplifying Auction Designs via Market Feedback Sustaining Trading Relationships with Lemons
Venture Capital and Private Equity
How Do Global Investors Make Decisions? Evidence from Venture Capital and Private Equity Asset Sorting in Private Equity Human Capital Breadth and the Financing of Innovative Startups
Demand Elasticities
How (Not) to Identify Demand Elasticities in Dynamic Asset Markets Demand Elasticity in Dynamic Asset Pricing On the Recovery and Usage of Demand Elasticities in Dynamic Settings
Household Financial Advice and Belief Formation
Financial Advisors and Retirees’ Risk-Taking AI Financial Advice: Supply, Demand, and Life Cycle Implications Fading-Memory Expectations in Equity Markets
Mutual Funds
Passive Flows, Active Woes: Passive Investing and the Decline of Active Mutual Fund Alpha Rethinking Mutual Fund Performance: From Traditional Alpha to Achievable Alpha Asset Reclassification and Mutual Fund Flows
Financing and Innovation
Patent Disclosure and Reliance on External Financing Playing the Patent Lottery Entrepreneurship on a Safety Net: Evidence from the World’s Largest Cash Transfer Program
The Fed and the Market
Partisan Fed Did I Make Myself Clear? The Fed and the Market in the Post-2020 Framework Period A Model of Fed Information Effect
Financial Intermediation Theory
Dynamic Contracting with Many Agents Too Big to Fail, Too Small to Survive Information-Concealing Credit Architecture
Innovation and the Real Economy
New Technology Sectoral Disruptions New Products Cournot Competition, Informational Feedback, and Real Efficiency
Climate Risk and Climate Policy
Climate Disasters and Intergenerational Equity: A Fiscal Rule for Sustainable Development The Economics of Insurance Guaranty Funds Climate Policy Abroad, Emissions at Home: Pollution Reshoring by U.S. Multinationals
Consumer Credit
Information Sharing Regimes and Financial Inclusion Adverse Selection and Learning in Consumer Credit Markets Credit Without Proximity: Informational Frictions and Unequal Gains from Technology
Household Credit
Student Debt and the Cinderella Effect The Costs of Bankruptcy Misperceptions "No-Interest" Advertising in High-Interest Loan Markets Nepo Credit: The Effect of Borrowed Credit Histories
Expectations in Asset Pricing
CDX Markets, Time-Varying Fear, and Corporate Leverage Exchange Rate Expectations and Currency Demand Risk-Based Interest Rate Expectations Tactical Asset Allocations of Large Asset Managers
Bank Liquidity and Trading
Liquidity Flows to Bank-Affiliated Broker Dealers: Insights from Volumes and Prices What Do Bank Trading Desks Do? Ample Reserves for Whom? The Role of Foreign Banks in U.S. Monetary Policy Implementation Underwater: Strategic Trading and Risk Management in Bank Securities Portfolios
Learning and Beliefs
Learning About Discount Rates From Numbers to Words: Breaking Down Institutional Beliefs Asset Pricing with the Awareness of New Risks Uncertain Uncertainty
Retirement Savings
Default Options and Market Power: Evidence from Target-Date Funds Debt and Liquid Wealth: Evidence from Pension Fund Withdrawals The Design of Retirement Plan Match Schedules
Theory of Information
Endogenous Misinformation and Source Authentication Equilibrium Spillover of Big Data Confidentiality and Competition in Concurrent Bargaining
Banks and Nonbanks in the Real Economy
Shadows on Main Street: Local Financial Architecture and Asset Reallocation Leveraged Loans and the Transmission of Monetary Policy Banks as Stewards
Asset Pricing Methodology
Present Bias and Discount Rate Risk Resolving the Zero-Beta Rate Puzzle Causal Inference in Financial Event Studies
Sustainable Investing
Value, Values, and Opportunities in Corporate Environmental Practices Building Voice in Socially Responsible Investing Ethical Capital, Coordination, and the Correction of Externalities
Politics and Finance
Trickle-Down Ideology: How CEO Politics Shape the Workforce The Echoes of Muted Political Speech in Financial Speech Politics and the Price of Housing
Institutional Investors
Do Index Funds Monitor? Revisited Relative Performance Evaluation for Asset Managers: A Quantitative Assessment Does Fund Size Affect Private Equity Performance? Evidence from Donations to Private Universities
Healthcare Finance and Governance
What Constrains Medicare Fraud? The Role of Firm Culture in Nursing Homes Financing Charity: Evidence from U.S. Hospitals Driving a Bargain: Negotiation Skill and Price Dispersion
AI in Trading and Investing
Human Edge, Machine Limits: AI-Human Competition in Financial Markets Trading against Algorithms: Price Dynamics and Risk-sharing in a Market with Q-Learners Mimicking Finance
Asset Demand
A Trilemma for Asset Demand Estimation Price Agnostic Demand The Demand for Safe Assets
Financial Markets and Information
Breaking the Data Chain: The Ripple Effect of Data Sharing Restrictions on Financial Markets Breaching the Chinese Wall: Cross-Market Information Flow Following Financial Institution Mergers Inside Out: Who Trade Before the Start of Cyber Attacks? Valuation Models
Empirical Asset Pricing
The Hidden Cost of Stock Market Concentration: When Funds Hit Regulatory Limits Dirty Business: Transition Risk of Factor Portfolios Haven’t We Seen This Before? Return Predictions from 200 Years of News Asset Growth Effect and Q Theory of Investment
Mergers and Acquisitions
(Ir)responsible Takeovers Deal Terms in Takeovers On the Use of Failed Bids in Estimating the Treatment Effects of Mergers and Acquisitions The Effect of Takeovers on Knowledge Worker Productivity
Information, Expectations, and Asset Prices
Forecast-Agnostic Portfolios Stocks for the Long Run or Liquidity? Tax Data Evidence and Portfolio Choice Implications Macroeconomic Announcements and the Repricing of Earnings Risk Addressing Anticipation Effects in Finance
The Supply and Demand of US Treasury
Granular Treasury Demand with Arbitrageurs What Treasury Auctions Reveal About Investor Demand The Debt Ceiling's Disruptive Impact: Evidence from Many Markets
Deposits: Sticky or Flighty
Depositor Competition Beyond Rates Large Depositors, Retail Depositors, and the Deposits Channel of Monetary Policy Market-Priced Savings, Bank Deposit Market Power, and Monetary Policy Transmission
Digital Finance and Data
Consumer Surveillance and Financial Fraud Integrating Fragmented Networks: Interoperability in Money and Payments Robo-Advising Meets Large Language Models: Educating Investors on Alpha and Beta of Mutual Funds and Stocks
Human Capital and Organizational Frictions
Anti-Harassment Policy and the Startup Labor Market Investing in Human Capital Incubation The Glass Ceiling from Day Zero: Path Dependence in Financial Advisors’ Careers
Household Finance and Technology
Discrimination During Eviction Moratoria How Does Human–Machine Collaboration Work? — Evidence From Auto Finance Leasing Transactions Social Transmission of Consumption
Information Frictions and Market Efficiency
Natural Centralization in Decentralized Finance Do GSEs Subsidize Mortgage Lending? Hide in the Herd: Uncertainty and Informational Inefficiency
Venture Capital and the Real Economy
Buyouts with Payouts: The Impacts of Private Equity on Workers and Owners Industrial Policy via Venture Capital Venture Capital Networks and Cross-Border Startup Knowledge Spillovers
Bond Funds
Global Investors in Local-Currency Bond Markets: Implications for Bond Yields and Exchange Rates Credit Where It's Not Due: Misbenchmarking by Active Bond Funds Cross Trading in the Corporate Bond Market
Market Microstructure
Latency and the Look-Ahead Bias in Trade and Quote Data Is 24/7 Trading Better? Does Internalization Impact Quote Competition?
Debt and Interest Rates
Valuing Sticky Deposits Fiscal Insurance and the Pricing of Government Debt Monetary Policy and Investment Plans
Household Finance and Mortgage Markets
Is There a Puzzle in Underwater Mortgage Default? Do Lower Mortgage Rates Benefit First-Time Homebuyers? Global Housing Returns, Discount Rates, and the Emergence of the Safe Asset, 1465-2024