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Upcoming Event

8th annual Municipal Finance Conference

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 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. The 2019 conference will take place on July 15-16, 2019. Brookings will host the bulk of the program, but the cocktail hour and dinner keynote on the evening of July 15 will take place at the nearby Capital Hilton.


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Monday, July 15

Session: Plenary I--Climate change and state and local governments

Climate transition risks for state and local governments
Authors: Adele Morris (Climate and Energy Economics Project, Brookings Institution), Noah Kaufman (Center on Global Energy Policy, Columbia University ), Siddhi Doshi (Brookings Institution)
Presenter: Matthew Kahn (Johns Hopkins University)
Panelist: Tim Coffin (Breckinridge Capital Advisors)


Mike Belsky

Executive Director - Center for Municipal Finance, Harris School of Public Policy, University of Chicago

Breakout session I

Track 1

General purpose local government defaults: Type, trend, and impact
Authors: Lang (Kate) Yang (Trachtenberg School of Public Policy and Public Administration, George Washington University) and Yulianti Abbas (Universitas Indonesia)
Discussant: Triet Nguyen (Axios Advisors LLC)

Big data based government economic monitoring and targeted action (GEM) — Illustrating with the city of Newark
Authors: Miklos Vasarhelyi, Alex Kogan, Arion Cheng, Divya Anantharaman (Rutgers Business School), William Glasgal (Volcker Alliance), and Ricardo Lopes Cardoso (Fundação Getulio Vargas, Brazil)
Discussant: Amelia Haviland (Block Center for Technology and Society, Carnegie Mellon University)

Competition, market concentration, and market power in the municipal bond market
Authors: Dario Cestau (IE Business School)
Discussant: Nicole Moran (Cornerstone Research)


Sarah Snyder

Managing Director - Ramirez & Co., Inc.

Track 2

Public pension risk-sharing mechanisms and their potential impacts
Authors: Don Boyd, Gang Chen and Yimeng Yin (Center for Policy Research, University at Albany)

The fiscal sustainability of state and local government pension plans
Authors: Louise Sheiner (Hutchins Center on Fiscal & Monetary Policy, Brookings Institution), Jamie Lenney (Bank of England) and Byron Lutz (Federal Reserve Board)

Discussant 1: Laura Quinby (Center on Retirement Research, Boston College)

Discussant 2: Tom Aaron (Moody’s)


Daniel Bergstresser

Associate Professor of Finance - Rosenberg Institute of Global Finance, Brandeis International Business School

Panel 1: Payment-in-kind for state & local pensions: Good idea or not? When it is appropriate? When not?

Mike Imber, EisnerAmper LLP
Laura Quinby, Center on Retirement Research, Boston College
Jonathan Steinberg, Member, Connecticut House of Representatives
Todd Tauzer, Segal Consulting



Richard Ryffel

Professor of Finance Practice - Olin School of Business, Washington University in St. Louis

Dinner and keynote

at the Capital Hilton

Dan Hynes

Deputy Governor - State of Illinois

Former Comptroller - State of Illinois

Tuesday, July 16


Breakout Session 2

Track 1

The price of safety: The evolution of insurance value in municipal markets
Authors: Kimberly Cornaggia (Pennsylvania State University) , John Hund (University of Georgia) and Giang Nguyen (Pennsylvania State University)
Discussant: Scott Richbourg (Build America Mutual Assurance Co.)

The economic consequences of GASB financial statement disclosure
Authors: James Naughton (Kellogg School of Management, Northwestern University) and Michael Dambra (School of Management, University at Buffalo)
Discussant: Gilbert Southwell (Wells Capital Management)

Legal uncertainty and municipal bond yields: Market spillovers from Puerto Rico
Authors: Chuck Boyer (University of Chicago Booth School of Business)
Discussant: Natalie Cohen (National Municipal Research, Inc.)


David Abel

Managing Director - Columbia Capital Management LLC

Track 2

The impact of bank financing on municipalities’ bond Issuance and the real economy
Authors: Ramona Dagostino (Simon Business School, University of Rochester )
Discussant: Ivan Ivanov (Federal Reserve Board)

Tax increment financing and economic development
Authors: Komla Dzigbede (State University of New York at Binghamton) and Rahul Pathak (City University of New York)
Discussant: Steve Friedman (SB Friedman Development Advisors)

Infrastructure costs
Authors: Leah Brooks (Trachtenberg School of Public Policy and Public Administration, George Washington University) and Zachary Liscow (Yale Law School)
Discussant: Kent Rowey (Allen & Overy LLP)  

Session moderated by: Kim Rueben (Urban Institute)


Kim Rueben

Sol Price Fellow & Director of State and Local Finance Initiative - Urban Institute

Panel 2: Communities left behind: How to narrow the gap between prospering and stagnating communities

Tim Bartik, W.E. Upjohn Institute
Chris Berry, Harris School of Public Policy, University of Chicago
Ingrid Ellen, Furman Center for Real Estate and Urban Policy, New York University
Rep. Dan Kildee (D-MI), Member, U.S. House of Representatives



Tracy Gordon

Senior Fellow - Urban-Brookings Tax Policy Center

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