Event Registration

     

    9th annual Municipal Finance Conference

    When: Monday, July 13 - Tuesday, July 14, 2020

    Where: https://www.brookings.edu/events/webinar-9th-annual-municipal-finance-conference/

    What:The Municipal Finance Conference aims to bring together academics, practitioners, issuers, and regulators to discuss recent research on municipal capital markets and state and local fiscal issues. This year’s conference is a joint venture of The Hutchins Center on Fiscal and Monetary Policy at Brookings, the Rosenberg Institute of Global Finance at the Brandeis International Business School, the Olin Business School at Washington University in St. Louis, and the Harris School of Public Policy at the University of Chicago. This year's conference will be exclusively online. 

    Agenda (all times in EDT)

    MONDAY, JULY 13

    1:30-2:00 p.m. Fireside chat 
    Speaker: The Honorable Libby Schaaf, Mayor of the City of Oakland, California
    Moderator: David Wessel, Brookings Hutchins Center

    2:00 – 2:45 p.m. Panel 1: State and local response to COVID-19 pandemic 
    Panelists: Lauren Larson, Governor’s Office of State Planning & Budgeting, CO
    Fitzroy Lee, Government of the District of Columbia
    Mike Pagano, University of Illinois at Chicago
    Moderator: Louise Sheiner, Brookings Hutchins Center

    2:45 – 3:30 p.m. Panel 2: Muni bond response to COVID-19 pandemic 
    Panelists: Patrick Brett, Citi
    Gary Hall, Siebert Williams Shank & Co.
    Kent Hiteshew, Federal Reserve Board
    Sarah Snyder, Ramirez & Co.
    Moderator: Richard Ryffel, Washington University in St. Louis

    3:30 – 3:45 p.m. Break 

    3:45 – 5:15 p.m. Breakout session I  

    Track 1

    Moderator: Mike Belsky (University of Chicago) 

    Specialization investments and market power in the underwriting market for municipal bonds 
    Author: Dario Cestau (IE Business School) 
    Discussant: Brad Gewehr (Bank of America) 

    America's trillion-dollar repair bill: Capital budgeting and the disclosure of state infrastructure needs 
    Authors: Camila Fonseca Sarmiento (University of Minnesota), Jie Tan (Zhejiang University) & Jerry Zhirong Zhao (University of Minnesota) 
    Discussant: Preston Niblack (Office of the New York City Comptroller) 

    Competitive bidding for primary offerings of municipal securities: More bids, better for issuers? 
    Author: Simon Wu (Municipal Securities Rulemaking Board) 
    Discussant: Jill Jaworski (Public Financial Management) 

    Track 2

    Moderator:Tracy Gordon (Urban-Brookings Tax Policy Center) 

    Assessing state implemented local fiscal early warning systems: Case studies of Colorado, Louisiana, Ohio & Pennsylvania
    Authors: Eric Scorsone & Natalie Pruett (Michigan State University)
    Discussant: Marc Joffe (Reason Foundation)

    Marijuana liberalization and public finance: A capital market perspective on a public health policy 
    Authors: Stephanie Cheng, Gus De Franco & Pengkai Lin (Tulane University) 
    Discussant: Kim Rueben (Urban Institute) 

    Regulatory spillover: Evidence from classifying municipal bonds as high-quality liquid assets 
    Authors: Jacob Ott (University of Minnesota) 
    Discussant: Ivan Ivanov (Federal Reserve Board) 

    TUESDAY, JULY 14 

    8:30 – 10:00 am Breakout session II 

    Track 1
    Moderator: Dan Bergstresser (Brandeis International Business School) 

    The impact of the shadow banking sector on public finance 
    Authors: Chuck Boyer & Kelly Posenau (Chicago Booth School of Business) 
    Discussant: Matt Fabian (Municipal Market Analytics) 

    Do exchange-traded funds improve municipal bond market quality? 
    Author: Justin Marlowe (University of Washington) 
    Discussant: Patrick Luby (CreditSights)

    Conflicts of interest in municipal bond advising and underwriting 
    Author: Daniel Garrett (UPenn Wharton School of Business) 
    Discussant: Lori Raineri (Government Financial Strategies) 

    Track 2
    Moderator: Kim Rueben (Urban Institute) 

    Winner's curse? Corporate subsidies and borrowing costs of local governments 
    Authors: Sudheer Chava, Baridhi Malakar & Manpreet Singh (Georgia Institute of Technology) 
    Discussant: Donnie Charleston (Urban Institute) 

    Evaluating state and local business tax incentives 
    Authors: Cailin Slattery (Columbia University) & Owen Zidar (Princeton University) 
    Discussant: Tim Bartik (W.E. Upjohn Institute for Employment Research) 

    Capital investment, service solvency, and quality of life after municipal bankruptcy 
    Authors: Carolyn Abott (St. John's University) & Akheil Singla (Arizona State University) 
    Discussant: Cate Long (Puerto Rico Clearinghouse) 

    10:00 – 10:15 a.m. Break
     
    10:15 – 11:45 a.m. Plenary: Pensions  

    Moderator: Natalie Cohen (National Municipal Research) 

    State and local government pension sustainability in an uncertain world 
    Authors: Jamie Lenney (Bank of England), Byron Lutz (Federal Reserve Board) & Louise Sheiner (Brookings Hutchins Center) 

    Sins of the past and present: Alternative pension funding policies 
    Authors: Robert Costrell & Josh McGee (University of Arkansas) 

    Public pension plan risk-sharing: Options and consequences 
    Authors: Don Boyd, Gang Chen & Yimeng Yin (University at Albany) 
    Discussant 1: Tom Aaron (Moody’s) 
    Discussant 2: Keith Brainard (National Association of State Retirement Administrators) 

    11:45 am – 12:30 pm Panel 3: Climate change
    Panelists: Todd MetCalfe, Moody's
    David Victor,     University of California, San Diego
    Chris Hartshorn, risQ
    Moderator: Louise Sheiner, Brookings Hutchins Center

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