Following the success of the last six years’ conferences, we are organizing the seventh conference on “Liquidity and Financial Fragility.” The conference will take place at the Wharton School of the University of Pennsylvania (Philadelphia PA) starting on the morning of Friday, October 12, 2018 and ending in the afternoon of Saturday October 13, 2018. There will also be a reception and dinner on Friday evening. Details of last years’ programs are available in the Conference website: We plan to follow a similar format this year.

We invite submissions of empirical and theoretical papers in various fields of economics and finance that touch upon the broad theme of Liquidity and Financial Fragility. Topics of interest include, but are not limited to:

  • Coordination failures, self-fulfilling beliefs, and runs
  • Fragility in banks and non-banks institutions
  • Financial frictions and the macro economy
  • Liquidity and frictions in financial markets
  • Systemic risk and financial regulation
  • Financial institutions, networks, and contagion
  • Monetary policy and financial stability
  • Sovereign debt crises and their link to the financial sector
  • The impact of crises and fragility on firms’ financing and investment policies
  • Financial Technology (FinTech) and its implications for stability
  • Digital currencies and their implications for the monetary system

The organizers of the conference are Itay Goldstein (Wharton Finance) and Guillermo Ordonez (Penn Economics). This year we will select papers with the help of a program committee composed of: Itamar Drechsler (Wharton), Huberto Ennis (Richmond Fed), Xavier Freixas (UPF), Vincent Glode (Wharton), Gary Gorton (Yale), Zhiguo He (Chicago), Jakub Kastl (Princeton), Todd Keister (Rutgers), Pablo Kurlat (Stanford), Matteo Maggiori (Harvard), Robert McDonald (Northwestern), Jaromir Nosal (Boston College), Martin Oehmke (Columbia), Christian Opp (Wharton), George Pennacchi (Illinois), Adriano Rampini (Duke), Philipp Schnabl (NYU), Luke Taylor (Wharton), Venky Venkateswaran (NYU), Annete Vissing-Jorgensen (Berkeley), Russ Wermers (Maryland), Randy Wright (Wisconsin) and Motohiro Yogo (Princeton).

Please submit your paper online at: The submission deadline is JULY 1, 2018. Authors will be notified by August 15, 2018 about the selection of papers.