Corporate Finance.

• Position: Program and Working Group Meetings

The NBER's Program on Corporate Finance met in Cambridge on November 4. Research Associate Malcolm Baker and Faculty Research Fellow Samuel Hanson, both of Harvard University, organized the meeting. These researchers' papers were presented and discussed:

* Jason R. Donaldson and Giorgia Piacentino, Washington University in St Louis, and Denis Gromb, HEC Paris, "The Paradox of Pledgeability"

* Marco Di Maggio, Harvard University and NBER; Amir Kermani, University of California, Berkeley, and NBER; and Christopher Palmer, University of California, Berkeley, "How Quantitative Easing Works: Evidence on the Refinancing Channel" (NBER Working Paper No. 22638)

* Sumit Agarwal, Georgetown University; Souphala Chomsisengphet, Office of the Comptroller of the Currency; Neale Mahoney, University of Chicago and NBER; and Johannes Stroebel, New York University and NBER, "Do Banks Pass through Credit Expansions to Consumers Who Want to Borrow? Evidence from Credit Cards" (NBER Working Paper No. 21567)

* Hong Ru, Nanyang Technological University, and Antoinette Schoar, MIT and NBER, "Do Credit Card Companies Screen for Behavioral Biases?" (NBER Working Paper No. 22360)

* Olivier Dessaint, University of...