110 sessions, 435 papers

Society for Economic Dynamics
Complete List of All Sessions

Session 1: Health Choices
Date: July 2, 2009
Time: 10:00 - 12:00
Caught in the Bulimic Trap: Do Eating Disorders Reflect Addictive Behavior?
By Michelle S. Goeree, John C. Ham, and Daniela Iorio University of Southern California, Maryland, Universitat Autonoma de Barcelona
Presented by: Daniela Iorio, Universitat Autonoma de Barcelona
Peer Effects vs Personal Preferences in Smoking Choices: Estimating a Social Interactions Model
By Alberto Bisin; New York University Andrea Moro; Vanderbilt University Giorgio Topa; Federal Reserve Bank of New York
Presented by: Andrea Moro, Vanderbilt University
How Beliefs about HIV Affect Risky Behaviors: Evidence from Malawi
By Aureo de Paula; University of Pennsylvania Gil Shapira; University of Pennsylvania Petra Todd; University of Pennsylvania
Presented by: Aureo de Paula, University of Pennsylvania
HIV and Fertility in Africa: First Evidence from Population Based Surveys
By Chinhui Juhn; University of Houston and NBER Sebnem Kalemli-Ozcan; University of Houston and NBER Belgi Turan; University of Houston
Presented by: Belgi Turan, University of Houston

Session 2: Labor Supply
Date: July 2, 2009
Time: 10:00 - 2:00
Comparative Advantage and Aggregate Unemployment
By Mark Bils (University of Rochester) Yongsung Chang (University of Rochester and Yonsei University) Sun-Bin Kim (Korea University)
Presented by: Yongsung Chang, University of Rochester / Yonsei Univers
A Quantitative Theory of Labor Supply with Heterogeneous Agents: From Individual to Macro Elasticities
By Andres Erosa, IMDEA and University of Toronto Luisa Fuster, IMDEA and University of Toronto Gueorgui Kambourov, University of Toronto
Presented by: Gueorgui Kambourov, University of Toronto
labor supply in a frictional labor market
By Per Krusell Princeton University Toshihiko Mukoyama University of Virginia Richard Rogerson Arizona State University Aysegul Sahin Federal Reserve Bank of New York
Presented by: Richard Rogerson, Arizona State University
Inequality, Hours and Labor Market Participation
By Claudio Michelacci, CEMFI Josep Pijoan-Mas, CEMFI
Presented by: Josep Pijoan-Mas, CEMFI

Session 3: Bond and Stock Pricing
Date: July 2, 2009
Time: 10:00 - 12:00
Risk Premia on Equity and Debt in a DSGE Model with Long-Run Real and Nominal Risks
By Glenn Rudebusch (Federal Reserve Bank of San Francisco) Eric Swanson (Federal Reserve Bank of San Francisco)
Presented by: Eric Swanson, Federal Reserve Bank of San Francisco
Decomposing the Yield Curve
By John Cochrane, Chicago GSB Monika Piazzesi, Stanford University
Presented by: Monika Piazzesi, Stanford University
The Cyclical Component of US Asset Returns
[slides]
By David K. Backus, New York University Bryan R. Routledge, Carnegie Mellon University Stanley E. Zin, Carnegie Mellon University
Presented by: Stanley Zin, Carnegie Mellon University
The Bond Risk Premium and the Cross-Section of Equity Returns
By Ralph S.J. Koijen - Chicago GSB Hanno Lustig - UCLA Anderson Stijn Van Nieuwerburgh - NYU Stern
Presented by: Stijn Van Nieuwerburgh, NYU Stern School of Business

Session 4: Optimal Contracts with Moral Hazard
Session Chair: Hector Chade, arizona state university
Date: July 2, 2009
Time: 10:00 - 12:00
Providing Incentives for Mortgage Originators
By Arantxa Jarque; Universidad Carlos III de Madrid Ned Prescott; Federal Reserve Bank of Richmond
Presented by: Arantxa Jarque, Universidad Carlos III de Madrid
moral hazard with unobservable wealth and a continuum of actions
By hector chade; arizona state university
Presented by: Hector Chade, arizona state university
Optimal Securitization with Moral Hazard
By Barney Hartman-Glaser; UC Berkeley Haas Tomasz Piskorski; Columbia Business School Alexei Tchistyi; UC Berkeley Haas
Presented by: Alexei Tchistyi, Haas School of Business, UC Berkeley
On the Amplification Role of Collateral Constraints
By Caterina Mendicino, Banco de Portugal, Research Department.
Presented by: Caterina Mendicino, Bank of Canada

Session 5: Dynamic Games: Theory and Applications
Date: July 2, 2009
Time: 10:00 - 12:00
Avoiding Market Dominance: Product Compatibility in Markets with Network Effects
By Jiawei Chen, UC Irvine Ulrich Doraszelski, Harvard Joe Harrington, Johns Hopkins
Presented by: Ulrich Doraszelski, Harvard University
Lumpy Capacity Investment and Disinvestment Dynamics
By David Besanko, Northwestern University Ulrich Doraszelski, Harvard University Lauren Xiaoyuan Lu, University of North Carolina Mark Satterthwaite, Northwestern University
Presented by: Mark A. Satterthwaite, Northwestern University
Finite State Dynamic Games with Asymmetric Information: A Framework for Applied Work
By Chaim Fershtman, Tel Aviv University Ariel Pakes, Harvard University
Presented by: Ariel Pakes, Harvard University
Buyers - Sellers Network: Dynamic Interaction between Hospitals and HMOs
By Chaim Fershtman, Tel Aviv University Ariel Pakes, Harvard University
Presented by: Chaim Fershtman, The Eitan Berglas School of Economics

Session 6: Productivity in Open Economies
Date: July 2, 2009
Time: 10:00 - 12:00
Catching Up and Falling Behind
By Nancy L. Stokey; University of Chicago
Presented by: Nancy Stokey, University of Chicago
Technological Change and the Wealth of Nations
By Gino Gancia; CREI and UPF Fabrizio Zilibotti; Zurich University
Presented by: Gino Gancia, CREI and UPF
Do Intangible Assets Explain High U.S. Foreign Direct Investment Returns?
By Benjamin Bridgman, Bureau of Economic Analysis
Presented by: Benjamin Bridgman, Bureau of Economic Analysis
Financial Frictions and Factor Flows
By Francisco J. Buera; UCLA Yongseok Shin; Washington University at St. Louis
Presented by: Francisco Buera, University of California at Los Angeles

Session 7: International Relative Prices
Date: July 2, 2009
Time: 10:00 - 12:00
Exchange Rates and Producer Prices: Evidence From Micro-Data
By Doireann Fitzgerald, Stanford Stefanie Haller, ESRI
Presented by: Doireann Fitzgerald, Stanford University
Setting The Right Prices for the Wrong Reasons
By Christian Hellwig, UCLA and CEPR Venky Venkateswaran, UCLA
Presented by: Vaidyanathan Venkateswaran, UCLA
The Puzzling Behavior of Sectoral Real Exchange Rates
By Patrick Kehoe; FRB Minneapolis & U. of Minnesota Virgiliu Midrigan; NYU
Presented by: Virgiliu Midrigan, New York University
A Model of International Cities: Implications for Real Exchange Rates
By Mario Crucini; Vanderbilt Hakan Yilmazkuday; Vanderbilt
Presented by: HAKAN YILMAZKUDAY, TEMPLE UNIVERSITY

Session 8: Monetary Policy and Imperfect Information
Session Chair: Marc Giannoni, COLUMBIA UNIVERSITY
Date: July 2, 2009
Time: 10:00 - 12:00
Dispersed Information over the Business Cycle: Optimal Fiscal and Monetary Policy
By George-Marios Angeletos, MIT and NBER Jennifer La'O, MIT
Presented by: Jennifer La'O, MIT
Central Bank's Two-Way Communication with the Public and Inflation Dynamics
By Kosuke Aoki, London School of Economics Takeshi Kimura, Bank of Japan
Presented by: Kosuke Aoki, London School of Economics
News, Noise and Fluctuations: An Empirical Exploration
By Olivier J. Blanchard, IMF and MIT Jean-Paul L'Huillier, MIT Guido Lorenzoni, MIT
Presented by: Guido Lorenzoni, MIT
On the Welfare Costs of Imperfect Information for Monetary Policy
By Jean Boivin (HEC Montreal) Marc P. Giannoni (Columbia University)
Presented by: Marc Giannoni, Columbia University

Session 9: Housing Markets
Date: July 2, 2009
Time: 10:00 - 12:00
House Prices, Sales and Time on the Market: A Search-Theoretic Framework
By Antonia Diaz; Universidad Carlos III Belen Jerez; Universidad Carlos III
Presented by: Belén Jerez, Universidad Carlos III de Madrid
Hot And Cold Seasons in the Housing Market
By Rachel Ngai; LSE Silvana Tenreyro; LSE
Presented by: Silvana Tenreyro, London School of Economics
House Price Dynamics with Heterogeneous Expectations
By Giovanni Favara; HEC University of Lausanne Zheng Song; School of Economics Fudan University
Presented by: Giovanni Favara, Univeristy of Lausanne
Momentum traders in a search model of the housing market
By Monika Piazzesi; Stanford Martin Schneider; Stanford
Presented by: Martin Schneider, Stanford University

Session 10: News and Shocks
Date: July 2, 2009
Time: 10:00 - 12:00
Sector-Specific Technology Shocks and the Business Cycle
By Jonas Fisher, John Fernald, Susanto Basu, Miles Kimball
Presented by: Jonas Fisher, Federal Reserve Bank of Chicago
A Likelihood Analysis of Models with Information Frictions
By Leonardo Melosi; University of Pennsylvania
Presented by: Leonardo Melosi, University of Pennsylvania
Investment-Specific Technology Shocks and Monetary Policy: The View from a Policy-Oriented DSGE model
By Rochelle Edge, Federal Reserve Board Michael Kiley, Federal Reserve Board Jean-Philippe Laforte, Federal Reserve Board
Presented by: Michael Kiley, Federal Reserve Board
What's News in Business Cycles
By Stephanie Schmitt-Grohe Columbia University Martin Uribe Columbia University
Presented by: Stephanie Schmitt-Grohe, Columbia University

Session 11: The Causes and Consequences of Culture
Date: July 2, 2009
Time: 10:00 - 2:00
Trans-Atlantic Slave Trade and the Origins of Mistrust in Africa
By Nathan Nunn Leonard Wantchekon
Presented by: Nathan Nunn, Harvard University
Values and the Macroeconomy
By Paola Giuliano, UCLA Anderson School of Management
Presented by: Paola Giuliano, UCLA
Culture as Learning: The Evolution of Female Labor Force Participation over a Century
By Raquel Fernandez, NYU
Presented by: Raquel Fernández, New York University
Academic Dynasties: Nepotism and Productivity in the Italian Academic System
By Ruben Durante, Brown University Giovanna Labartino, Bocconi University Roberto Perotti, Bocconi University Guido Tabellini, Bocconi University
Presented by: roberto perotti, Universita' Bocconi

Session 12: Growth and Public Goods in the World Economy
Date: July 2, 2009
Time: 10:00 - 12:00
Is Newer Better? Penn World Table Revisions and the Growth Literature
By Simon Johnson; MIT William Larson; George Washington University Chris Papageorgiou; IMF Arvind Subramania; Peterson Institute and John Hopkins
Presented by: Chris Papageorgiou, IMF
Malaria Policy: Alternative Prevention and Eradication Strategies in a Dynamic Model
By Douglas Gollin; Williams College Christian Zimmermann; University of Connecticut
Presented by: Christian Zimmermann, University of Connecticut
A QUANTITATIVE DYNAMIC GENERAL EQUILIBRIUM MODEL OF CLIMATE CHANGE AND THE GLOBAL ECONOMY
By John Hassler; Institute for International Economic Studies Per Krusell; Institute for International Economic Studies and Princeton Conny Olovsson; Institute for International Economic Studies
Presented by: Per Krusell, Princeton University
A Global Equilibrium Model of Economy-Climate Interactions
By Per Krusell; Princeton University and Institute for International Economic Studies (Stockholm) Anthony Smith; Yale University
Presented by: Anthony Smith, Yale University

Session 13: Macro-Asset Pricing
Date: July 2, 2009
Time: 13:15 - 15:15
Accounting for Low Frequency Variation in Tobin's q
By Chris Telmer, Carnegie Mellon University Iulian Obreja, University of Colorado
Presented by: Christopher Telmer, Carnegie Mellon University
The Long and the Short of Asset Prices: Using Long Run Consumption-Return Correlations to Test Asset Pricing Models
By Jianfeng Yu, University of Minnesota
Presented by: Jianfeng Yu, University of Minnesota
Growth opportunities and Investment-Specific Technology Shocks.
By Leonid Kogan, MIT Sloan Dimitris Papanikolaou, Northwestern University
Presented by: Dimitris Papanikolaou, Northwestern University
The Demographics of Innovation and Asset Returns
By Nicolae Garleanu, UC Berkeley, NBER and CEPR Leonid Kogan, MIT and NBER Stavros Panageas, Univ. of Chicago and NBER
Presented by: Nicolae Garleanu, University of California, Berkeley

Session 14: Economic Development
Date: July 2, 2009
Time: 13:15 - 15:15
The Allocation of Talent and Skill Premia Across Countries
By German Cubas; University of Iowa B. Ravikuman; University of Iowa Gustavo Ventura; University of Iowa
Presented by: Gustavo Ventura, University of Iowa
Structural Transformation and Economic Growth
[slides]
By Berthold Herrendorf; Arizona State University Richard Rogerson; Arizona State University Akos Valentinyi; National Bank of Hungary
Presented by: Akos Valentinyi, University of Southampton
The Greatest of All Improvements: Roads, Agriculture, and Economic Development in Africa
By Douglas Gollin; Williams College Richard Rogerson; Arizona State University
Presented by: Douglas Gollin, Williams College
A Spatial Explanation for the Balassa-Samuelson Effect
By Peter Karadi; NYU Miklos Koren; CEU and CEPR
Presented by: Miklos Koren, Central European University

Session 15: Trade and the Business Cycle
Date: July 2, 2009
Time: 13:15 - 15:15
International Trade and Aggregate Fluctuations in Granular Economies
By Julian di Giovanni; IMF Andrei A. Levchenko; University of Michigan
Presented by: Andrei Levchenko, University of Michigan
Trade Elasticity of Substitution and Equilibrium Dynamics
By Federal Reserve Board
Presented by: Martin Bodenstein, Federal Reserve Board
Fiscal Shocks and The Real Exchange Rate
By Agustín S. Bénétrix IIIS, Trinity College Dublin Philip R. Lane IIIS, Trinity College Dublin and CEPR
Presented by: Agustín Bénétrix, Trinity College Dublin
Vertical Specialization and International Business Cycle Synchronization
By Costas Arkolakis; Yale University and NBER Ananth Ramanarayanan; Federal Reserve Bank of Dallas
Presented by: Ananth Ramanarayanan, Federal Reserve Bank of Dallas

Session 16: The Welfare State and Employment
Session Chair: Rachel Ngai, london school of economics
Date: July 2, 2009
Time: 13:15 - 15:15
Taxes and Household Labor Supply
By Kelly Ragan Stockholm School of Economics
Presented by: Kelly Ragan, Stockholm School of Economics
Employment in the US and Europe: The Roles of Taxes and Benefits
By Per Krusell, Princeton University Toshihiko Mukoyama, University of Virginia Richard Rogerson, Arizona State University Aysegul Sahin, Federal Reserve Bank of New York
Presented by: Aysegul Sahin, Federal Reserve Bank of New York
Taxes and employment - is there a Scandinavia puzzle?
By Torben Andersen School of Economics and Management, Aarhus University, CEPR, CESifo and IZA
Presented by: Torben Andersen, School of Economics and Management
Welfare Policy and the Sectoral Distribution of Employment
By Rachel Ngai Christopher Pissarides
Presented by: Rachel Ngai, london school of economics

Session 17: New Developments in Industrial Organization
Date: July 2, 2009
Time: 13:15 - 15:15
Schumpeterian Entrepreneurship
By Serguey Braguinsky; Carnegie Mellon University Steven Klepper; Carnegie Mellon University Atsushi Ohyama; University of Illinois, Urbana-Champaign
Presented by: Serguey Braguinsky, Carnegie Mellon University
Financial Frictions, Internal Capital Markets, and the Organization of Production
By Pavel Sevcik; Universite de Montreal
Presented by: Pavel Sevcik, Université de Montréal
Repeated Tournaments
By Hugo Hopenhayn; UCLA Matthew Mitchell; University of Toronto
Presented by: Matthew Mitchell, University of Toronto
Managerial Effort, Agency, and Industrial Evolution
By Esra Durceylan-Kaygusuz ; Bilkent University Department of Economics
Presented by: Esra Durceylan, Bilkent University

Session 18: Inferring Labor Income Risk from Income Data and Economic Choices
Session Chair: Martin Browning, Oxford University
Date: July 2, 2009
Time: 13:15 - 13:15
Consumption with Heterogeneous Preferences and Heterogeneous Income Processes
By Martin Browning, University of Oxford Sule Alan, Cambridge University Mette Ejrnaes, Copenhagen University
Presented by: Martin Browning, Oxford University
Heterogeneity in income processes
By Andriy Norets; Princeton University Sam Schulhofer-Wohl; Princeton University
Presented by: Sam Schulhofer-Wohl, Princeton University
A Nonparametric Characterization of Income Uncertainty over the Lifecycle
By James Feigenbaum, University of Pittsburgh Geng Li, Federal Reserve Board
Presented by: Geng Li, The Federal Reserve Board
Using Fertility Choices to Estimate Labor Income Shocks
By Flavio Cunha; University of Pennsylvania Fatih Karahan; University of Pennsylvania
Presented by: Fatih Karahan, University of Pennsylvania

Session 19: Social Security and Demographics
Date: July 2, 2009
Time: 13:15 - 15:15
Social Security Reform in a Dynastic Life-Cycle Model with Endogenous Fertility
By Radim Bohacek; CERGE-EI Volha Belush; CERGE-EI
Presented by: Radim Bohacek, CERGE-EI
War Debt and the Baby Boom
By Kai(Jackie) Zhao; University of Western Ontario
Presented by: Kai(Jackie) Zhao, University of Western Ontario
What explains fertility? Evidence from Italian pension reforms
By Francesco C. Billari; Dondena, Università Bocconi and IGIER Vincenzo Galasso; IGIER, Università Bocconi and CEPR
Presented by: Vincenzo Galasso, IGIER - Università Bocconi
Who's afraid of population aging?
By Alexander Ueberfeldt; Bank of Canada
Presented by: Alexander Ueberfeldt, Bank of Canada

Session 20: Uncertainty, Financial Markets and Business Cycles
Date: July 2, 2009
Time: 13:15 - 15:15
Changes in Growth Potential and Endogenous Technology Diffusion as Sources of Output and Asset Price Fluctuations
By Diego Comin HBS Mark Gertler NYU Ana Mara Santacru NYU
Presented by: Diego Comin, Harvard Business School
Collateral constraints, capital specificity and the distribution of production: the role of real and financial frictions in aggregate fluctuations
By Aubhik Khan; The Ohio State University Julia K. Thomas; The Ohio State University and NBER
Presented by: Julia Thomas, The Ohio State University
The Response of Monetary Policy to Financial Distress
By Marco Del Negro, Federal Reserve Bank of New York Gauti Eggertsson, Federal Reserve Bank of New York Andrea Ferrero, Federal Reserve Bank of New York
Presented by: Marco Del Negro, FRBNY-Research
Confronting Models of Financial Frictions with the Data
By Patrick Kehoe, Federal Reserve Bank of Minneapolis V V Chari, University of Minnesota and Federal Reserve Bank of Minneapolis
Presented by: Patrick Kehoe, Federal Reserve Bank of Minneapolis

Session 21: Sovereign Default
Date: July 2, 2009
Time: 13:15 - 15:15
Sovereign Debt Maturity without Commitment
By Dirk Niepelt, Gerzensee/Bern/Stockholm
Presented by: Dirk Niepelt, Study Center Gerzensee
Fiscal Policy and Default Risk in Emerging Markets
By Gabriel Cuadra, Banco de Mexico Juan M. Sanchez, FRB Richmond Horacio Sapriza, Board of Governors FRS and Rutgers University
Presented by: Horacio Sapriza, Rutgers University and Board of Governors FRS
A Solution to the Default Risk-Business Cycle Disconnect
By Enrique G. Mendoza, University of Maryland Vivian Z. Yue, New York University
Presented by: Enrique G. Mendoza, University of Maryland
Sovereign risk and international portfolio dynamics
By Fernando Broner; CREI and Universitat Pompeu Fabra Tatiana Didier; World Bank Aitor Erce; Banco de España Sergio Schmukler; World Bank
Presented by: Fernando Broner, CREI and Universitat Pompeu Fabra

Session 22: Social Networks
Date: July 2, 2009
Time: 13:15 - 15:15
Endogenous job contact networks
By Andrea Galeotti, Essex Luca P. Merlino Autonoma
Presented by: Andrea Galeotti, University of Essex
Modeling and Estimating Biases in Friendship and Network Formation
By Matthew O. Jackson; Stanford University Sergio Currarini; University of Venice Paolo Pin; University of Siena
Presented by: Matthew O. Jackson, Stanford University
Enforcing Cooperation in Networked Societies
By S. Nageeb Ali, UC-San Diego David A. Miller, UC-San Diego
Presented by: S. Nageeb Ali, UC-San Diego
The Dynamics of Social Capital
By Markus Mobius, Harvard University Adam Szeidl, UC-Berkeley
Presented by: Adam Szeidl, University of California Berkeley

Session 23: Models of Reputation
Date: July 2, 2009
Time: 13:15 - 15:15
Optimal Regulation in the Presence of Reputation Concerns
By Andrew Atkeson; UCLA and Minneapolis Fed. Guillermo Ordonez; Minneapolis Fed and Yale University.
Presented by: Guillermo Ordonez, Federal Reserve Bank of Minneapolis
Recursive Bargaining with Endogenous Threats
By Ramon Marimon; European University Institute and Universitat Pompeu Fabra - CREi Pontus Rendahl; University of California, Davis
Presented by: Ramon Marimon, European University Institute
Moral Hazard, Reputation, and Fragility in Credit Markets
By V. V. Chari; University of Minnesota & Federal Reserve Bank of Minneapolis Ali Shourideh; University of Minnesota & Federal Reserve Bank of Minneapolis Ariel Zetlin-Jones; University of Minnesota & Federal Reserve Bank of Minneapolis
Presented by: Ariel Zetlin-Jones,
A Model of Stigma in the Fed Funds Market
By Huberto M. Ennis, Universidad Carlos III de Madrid John A. Weinberg, Federal Reserve Bank of Richmond
Presented by: Huberto Ennis, Universidad Carlos III de Madrid

Session 24: Monetary Policy and the Business Cycle
Date: July 2, 2009
Time: 13:15 - 15:15
Sectoral Price Data and Models of Price Setting
By Bartosz Maćkowiak; European Central Bank Emanuel Moench; Federal Reserve Bank of New York Mirko Wiederholt; Northwestern University
Presented by: Bartosz Mackowiak, European Central Bank
Dynamics of the Price Distribution in a General Model of State-Dependent Pricing
By James Costain; Bank of Spain Anton Nakov; Bank of Spain
Presented by: James Costain, Banco de España
Inflation and Real Activity with Firm Level Productivity Shocks
By Michael Dotsey, Federal Reserve Bank of Philadelphia Robert G. King, Boston University Alexander Wolman, Federal Reserve Bank of Richmond
Presented by: Michael Dotsey, Federal Reserve Bank of Philadelphia
"Precautionary Demand for Money in a Monetary Search Business Cycle Model"
By Irina A. Telyukova; UC San Diego Ludo Visschers; Simon Fraser University
Presented by: Irina Telyukova, University of California San Diego

Session 25: Empirical Labor Economics
Date: July 2, 2009
Time: 15:45 - 17:45
Promotion, Turnover and Compensation in the Executive Market
By George-Levi Gayle, Limor Golan, Robert A. Miller Carnegie Mellon
Presented by: Limor Golan, Carnegie Mellon U.
Higher Education Subsidies and Human Capital Mobility
By John Kennan; University of Wisconsin-Madison and NBER
Presented by: John Kennan, University of Wisconsin Madison
Understanding the City Size Wage Gap
By Ronni Pavan; University of Rochester Nathaniel Baum-snow; Brown University
Presented by: Ronni Pavan, University of Rochester
Job Ladders, Human Capital, and Wage Inequality over Time
By Burhanettin Kuruscu; University of Texas - Austin Lance Lochner; University of Western Ontario
Presented by: Lance Lochner, University of Western Ontario

Session 26: Firm and Market Dynamics
Date: July 2, 2009
Time: 15:45 - 17:45
Dynamic Oligopolies
By Kenneth Judd, Stanford University Sevin Yeltekin, Carnegie Mellon University
Presented by: Sevin Yeltekin, Tepper School of Business
Dynamic Duopolistic Competition with Market Capturing Opportunities
By Janos Flesch; Maastricht University Ronald Peeters; Maastricht University Erik Pot; Maastricht University Dries Vermeulen; Maastricht University
Presented by: Ronald Peeters, Maastricht University
Switching Costs with a Continuum of Consumers
By Guy Arie; Kellogg School of Management Paul L.E. Grieco; Northwestern University
Presented by: Guy Arie, Northwestern University
Corporate Ownership and Managerial Selection
By Francesco Lippi; University of Sassari, EIEF and CEPR Fabiano Schivardi; University of Cagliari, EIEF and CEPR
Presented by: Fabiano Schivardi, University of Cagliari

Session 27: Trade Dynamics
Date: July 2, 2009
Time: 15:45 - 17:45
Technological Mismatch: a Model of Internatioal Trade in Goods and Ideas
By Thomas Chaney University of Chicago and NBER
Presented by: Thomas Chaney, The University of Chicago
New Exporter Dynamics
By Kim J. Ruhl, NYU Stern School of Business Jonathan L. Willis, Federal Reserve Bank of Kansas City
Presented by: Kim Ruhl, NYU
Optimal Trade Policy: Home Market Effect vs Terms of Trade Externality
By Alessia Campolmi; Central European University and Magyar Nemzeti Bank, Budapest, Hungary Harald Fadinger; University of Vienna, Vienna, Austria Chiara Forlati; Ecole Polytechnique Federale de Lausanne, Lausanne, Switzerland
Presented by: Chiara Forlati, Universitat Pompeu Fabra
Learning and Selection into Exporting
By Costas Arkolakis (Yale University) Theodore Papageorgiou (Pennsylvania State University)
Presented by: Costas Arkolakis, Yale University

Session 28: Household Structure and Labor Supply
Date: July 2, 2009
Time: 15:45 - 17:45
Is Marriage a White Institution? Understanding the causes and effects of the racial marriage divide
By Elizabeth Caucutt; University of Western Ontario Nezih Guner; Universidad Carlos III de Madrid
Presented by: Elizabeth Caucutt, University of Western Ontario
The Household Revolution:Childcare, Housework, and Female Labor Force Participation∗
By Emanuela Cardia, Universite de Montreal and CIREQ Paul Gomme, Concordia University and CIREQ
Presented by: Emanuela Cardia, university of montreal
Marriage and Cohabitation
By Ahu Gemici; New York University Steve Laufer; New York University
Presented by: Ahu Gemici, New York University
A Dynamic Model of Taxation, Marital Status, Fertility, and Labor Supply
By Flavio Cunha, University of Pennsylvania Karam Kang, University of Pennsylvania Petra Todd, University of Pennsylvania
Presented by: Karam Kang, UPenn

Session 29: Aggregate Implications of Financial Frictions
Date: July 2, 2009
Time: 15:45 - 17:45
Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis
By Emine Boz, IMF Enrique G. Mendoza, UMD & NBER
Presented by: Emine Boz, International Monetary Fund
Firm Dynamics and Financial Development
By Cristina Arellano, University of Minnesota Yan Bai, Arizona State University Jing Zhang, University of Michigan
Presented by: Cristina Arellano, University of Minnesota
On the Macroeconomic Effects of Credit Shocks
By Urban Jermann, Wharton School Vincenzo Quadrini, Univ. of Southern California
Presented by: Vincenzo Quadrini, USC
On the Optimality of Economic Integration
By Rui Castro; Université de Montréal Nelnan Koumtingué; U.N. and Université de Montréal
Presented by: Rui Castro, University of Montreal

Session 30: Topics on Social Security
Date: July 2, 2009
Time: 15:45 - 17:45
Markovian Social Security in Unequal Societies
By Kaiji Chen, University of Oslo Zheng Song, Fudan University
Presented by: Kaiji Chen, University of Oslo
The Effect of Tax-Deferred Retirement Saving Accounts: A Dynamic General Equilibrium Analysis
By Shinichi Nishiyama; Georgia State University
Presented by: Shinichi Nishiyama, Georgia State University
The Rise and Expansion of Social Security in the US
By Marina Azzimonti; University of Texas, Austin Guillaume Vandenbroucke; University of Iowa
Presented by: Guillaume Vandenbroucke, University of Iowa
Understanding the Aggregate Retirement Behavior during the 20th Century
By Rody Manuelli; Washington University in St. Louis Ananth Seshadri; University of Wisconsin-Madison Yongseok Shin; Washington University in St. Louis
Presented by: Yongseok Shin, Washington University in St. Louis

Session 31: Monetary Policy and Financial Market Structure
Date: July 2, 2009
Time: 15:45 - 17:45
Credit and Banking in a DSGE model
By Andrea GERALI; Bank of Italy Stefano NERI; Bank of Italy Luca SESSA; Bank of Italy Federico SIGNORETTI; Bank of Italy
Presented by: Andrea Gerali, Bank of Italy
Monetary Policy and the Financing of Firms
By Fiorella De Fiore; European Central Bank Pedro Teles; Banco de Portugal, Universidade Catolica Portuguesa, and Centre for Economic Policy Research Oreste Tristani; European Central Bank
Presented by: Fiorella De Fiore, European Central Bank
Optimal monetary policy in a model with agency costs
By Charles Carlstorm; Federal Reserve Bank of Cleveland Timothy Fuerst; Bowling Green State University Matthias Paustian; Bank of England
Presented by: Matthias Paustian, Bank of England
Money, Prices and Monetary Policy.
By Albert Marcet; Insitut d'Analisis Economica CSIC Juan Pablo Nicolini, Universidad Di Tella
Presented by: Juan Nicolini, Universidad Di Tella

Session 32: Search Theory
Date: July 2, 2009
Time: 15:45 - 17:45
Market Power and Efficiency in a Search Model
By Manolis Galenianos; Penn State Philipp Kircher; U Penn Gabor Virag; U Rochester
Presented by: Manolis Galenianos, Pennsylvania State University
A Search-Theoretic Model of Equilibrium Cycles with Sales
By James Albrecht; Georgetown University Fabien Postel-Vinay; University of Bristol and Paris School of Economics Susan Vroman; Georgetown University
Presented by: Susan Vroman, Georgetown University
Ex Ante and Ex Post Inefficiency in Search and Matching Models
By Ronald Wolthoff; University of Chicago
Presented by: Ronald Wolthoff, University of Chicago
Matching with phantoms
By Bruno Decreuse; GREQAM and University of Aix-Marseilles
Presented by: Bruno Decreuse, University of Aix-Marseilles

Session 33: Housing in Macroeconomics
Date: July 2, 2009
Time: 15:45 - 17:45
Home Ownership, Savings and Mobility Over The Life Cycle
[slides]
By Jonathan Halket NYU Gopal Vasudev NYU
Presented by: Jonathan Halket, New York University
The Macroeconomics of Real Estate
By Stefan Ried; Humboldt-Universitaet zu Berlin Harald Uhlig; The University of Chicago
Presented by: Stefan Ried, German Council of Economic Experts
Endogenous Market Segmentation and the Volatility of House Prices
By Aubhik Khan; Ohio State University Julia Thomas; Ohio State University
Presented by: Aubhik Khan, Ohio State University
Opportunistic Matching in the Housing Market Over the Cycle
By James Albrecht; Georgetown University Axel Anderson; Georgetown University Jonathan Heathcote; Minneapolis Federal Reserve Susan Vroman; Georgetown University
Presented by: James Albrecht, Georgetown University

Session 34: Labor Markets and the Business Cycle
Date: July 2, 2009
Time: 15:45 - 17:45
Labor Turnover Costs, Workers’ Heterogeneity and Optimal Monetary Policy
By Ester Faia, Goethe University Frankfurt, Kiel Ifw and CEPREMAP Wolfgang Lechthaler, Kiel IfW and CAU Christian Merkl, Kiel Ifw and CAU
Presented by: Christian Merkl, Kiel Institute for the World Economy
Wages over the Business Cycle: Spot Markets?
By Marcus Hagedorn; University of Zurich Iourii Manovskii; University of Pennsylvania
Presented by: Marcus Hagedorn, University of Zurich
Unemployment dynamics and the cost of business cycles
By Jean-Olivier Hairault; Paris School of Economics François Langot; GAINS-TEPP (Le Mans University) Sophie Osotimehin; CREST-INSEE
Presented by: Jean-Olivier Hairault, University Paris I
Comovement in Business Cycle Models: the Role of Nonseparable Preferences and Labor Market Participation
By Stefano Eusepi; Federal Reserve Bank of New York Bruce Preston; Columbia University and NBER
Presented by: Bruce Preston, Columbia University

Session 35: Information Aggregation in Markets: Theory and Evidence
Date: July 2, 2009
Time: 15:45 - 17:45
The more we know, the less we agree: Higher-order expectations and public announcements
By Péter Kondor Central European University
Presented by: Peter Kondor, Central European University
The dynamics of partially-revealing rational expectations equilibria
By Scott Condie; Brigham Young University Jayant V. Ganguli; University of Cambridge
Presented by: Jayant Ganguli, University of Cambridge
Soft Information in Earnings Announcements: News or Noise?
By Clara Vega, Federal Reserve Board of Governors Elizabeth Demers, INSEAD
Presented by: Clara Vega, University of Rochester
Heterogeneous Expectations and Business Cycle Fluctuations
By Christian Hellwig; UCLA and CEPR
Presented by: Christian Hellwig, UCLA

Session 36: Empirical Studies on the Turkish Economy 1
Date: July 2, 2009
Time: 15:45 - 17:45
The Impact of Schooling on the Timing of Marriage and Fertility: Evidence from a Change in Compulsory Schooling Law
By Murat G. Kırdar; Middle East Technical University Meltem Dayıoğlu Tayfur; Middle East Technical University İsmet Koç; Hacettepe University
Presented by: Murat Kırdar, Middle East Technical University
The Role of Human Capital in Productivity Spillovers from FDI: An Empirical Analysis for Turkish Manufacturing Firms
By Seda Köymen; Bilkent University Selin Sayek; Bilkent University
Presented by: seda köymen, bilkent university
Non-Price Competition in Credit Card Markets: Evidence from an Emerging Economy
By G. Gülsün Akın Department of Economics, Bogazici University,Bebek,Istanbul , Turkey e-mail: gulsun.akin@boun.edu.tr Ahmet Faruk Aysan Department of Economics, Bogazici University,Bebek,Istanbul , Turkey e-mail: ahmet.aysan@boun.edu.tr Gazi İshak Kara Department of Economics, Bogazici University,Bebek,Istanbul , Turkey e-mail: gazi.kara@boun.edu.tr Levent Yıldıran Department of Economics, Bogazici University,Bebek,Istanbul , Turkey e-mail: levent.yildiran@boun.edu.tr
Presented by: Ahmet Aysan, Bogazici University
Dealing with Attrition When Refreshment Samples are Available: An Application to the Turkish Household Labor Force Survey
By Emre Ekinci Cornell University Insan Tunali Koc University
Presented by: Emre Ekinci, Cornell University

Session 37: Search and Matching Financial Markets
Date: July 3, 2009
Time: 10:00 - 12:00
Capital Reallocation and Liquidity with Search Frictions
By Yong Kim, USC
Presented by: Yong Kim, University of Southern California
Capital Mobility and Asset Pricing
By Darrell Duffie Stanford GSB Bruno Strulovici Northwestern Economics
Presented by: Bruno Strulovici, Northwestern University
Liquidity shocks and order book dynamics
By Bruno Biais, TSE Pierre-Olivier Weill, UCLA
Presented by: Pierre-Olivier Weill, UCLA
Asset Prices, Liquidity, and Monetary Policy in an Exchange Economy
By Ricardo Lagos NYU
Presented by: Ricardo Lagos, NYU

Session 38: Taxation with Frictions
Date: July 3, 2009
Time: 10:00 - 12:00
Money and Optimal Capital Taxation
By S. Boragan Aruoba, University of Maryland Sanjay K. Chugh, University of Maryland
Presented by: S. Boragan Aruoba, University of Maryland
Tax Smoothing in Frictional Labor Markets
By David M. Arseneau, Federal Reserve Board Sanjay K. Chugh, University of Maryland
Presented by: Sanjay Chugh, University of Maryland
Ramsey Taxation and fear of misspecification
By Anastasios G. Karantounias; Federal Reserve Bank of Atlanta Lars Peter Hansen; University of Chicago Thomas J. Sargent; New York University and Hoover Institution
Presented by: Anastasios Karantounias, Federal Reserve Bank of Atlanta
Barriers to investment in polarized societies
By Marina Azzimonti; U of Texas, Austin
Presented by: Marina Azzimonti Renzo, University of Texas - Austin

Session 39: Political Economy
Date: July 3, 2009
Time: 10:00 - 12:00
Some Unpleasant Bargaining Arithmetics?
By Hulya Eraslan, Johns Hopkins University Antonio Merlo, University of Pennsylvania
Presented by: Hulya Eraslan, Johns Hopkins University
Turnover and Accountability of Appointed and Elected Judges
By Claire Lim Graduate School of Business Stanford University
Presented by: Claire Lim, Stanford University
Choosing Records
By Matias Iaryczower; Caltech Andrea Mattozzi; Caltech
Presented by: Matias Iaryczower, Caltech
Inferring Strategic Voting
By Kei Kawai; Northwestern University Yasutora Watanabe; Northwestern University
Presented by: Kei Kawai, Northwestern University

Session 40: RED Mini-Conference on Sources of Business-Cycle Fluctuations, Session 1
Date: July 3, 2009
Time: 10:00 - 12:00
What are the driving forces of international business cycles
By Mario J. Crucini, Vanderbilt University and NBER Ayhan Kose, IMF Christopher Otrok, University of Virginia
Presented by: Mario Crucini, Vanderbilt University
Stochastic Trends and Business Cycles
By Martin Uribe
Presented by: Martin Uribe,
A Historical Perspective on International Co-movements: 1821-2007
By Paolo Surico (Bank of England) Haroon Mumtaz (Bank of England) Saverio Simonelli, University Federico II of Naples
Presented by: Saverio Simonelli, University of Naples Federico II

Session 41: Families and Development
Date: July 3, 2009
Time: 10:00 - 12:00
Do International Labor Standards Contribute to the Persistence of the Child Labor Problem?
By Matthias Doepke, Northwestern University Fabrizio Zilibotti, University of Zurich
Presented by: Matthias Doepke, Northwestern University
From Shame to Game in One Hundred Years: An Economic Model of the Rise in Premarital Sex and its De-Stigmatization
By Jesús Fernández-Villaverde, Jeremy Greenwood, and Nezih Guner
Presented by: Jeremy Greenwood, University of Pennsylvania
Risk Sharing, Inequality and Fertility
By Roozbeh Hosseini, Arizona State Univeristy Larry Jones, Univeristy of Minnesota Alice Schoonbroodt, University of Southhampton Ali Shourideh, University of Minnesota
Presented by: Ali Shourideh, University of Minnesota
Sexual Behavior and HIV in Malawi
By Philipp Kircher, UPenn Jeremy Greenwood, UPenn Michele Tertilt, Stanford
Presented by: Michele Tertilt, Stanford University

Session 42: Education and Human Capital
Date: July 3, 2009
Time: 10:00 - 12:00
Student Abilities During the Expansion of U.S. Education, 1950-2000
By Lutz Hendricks, UNC-Chapel Hill, CESifo, Munich and CFS Todd Schoellman, Clemson University
Presented by: Todd Schoellman, Clemson University
A General Equilibrium Theory of College with Education Subsidies, In-School Labor Supply, and Borrowing Constraints
By Carlos Garriga/Federal Reserve Bank of St. Louis Mark P. Keightley/Congressional Research Service
Presented by: Carlos Garriga, Federal Reserve Bank of St. Louis
Taxation of Human Capital and Cross-Country Trends in Wage Inequality
By Fatih Guvenen; University of Minnesota and NBER Burhanettin Kuruscu; University of Texas at Austin Serdar Ozkan; University of Pennsylvania
Presented by: Serdar Ozkan, University of Pennsylvania
The Nature of Credit Constraints and Human Capital
By Lance J. Lochner, University of Western Ontario; Alexander Monge-Naranjo, Penn State University
Presented by: Alex Monge-Naranjo, Penn State University

Session 43: Mortgages and Foreclosure
Date: July 3, 2009
Time: 10:00 - 12:00
Subprime Mortgages
By John Krainer; Federal Reserve Bank of San Francisco Stephen LeRoy; University of California at Santa Barbara Munpyung O; University of California at Santa Barbara
Presented by: John Krainer, Federal Reserve Bank of San Francisco
Foreclosures and House Price Dynamics in Local Housing Markets
By Satyajit Chatterjee; FRB Philadelphia Burcu Eyigungor; Koc University
Presented by: Satyajit Chatterjee, Federal Reserve Bank of Philadelphia
Household Leverage
By Stefano Corradin European Central Bank
Presented by: Stefano Corradin, European Central Bank
The Design of Foreclosure Punishments: You Just Cannot Walk Away!
By Carlos Garriga Federal Reserve Bank of St. Louis Don Schlagenhauf Florida State University
Presented by: Don Schlagenhauf, Florida State University

Session 44: Optimal Monetary and Fiscal Policy
Date: July 3, 2009
Time: 10:00 - 12:00
Monetary Policy with State Contingent Interest Rates
By Bernardino Adão; Banco de Portugal Isabel Correia; Banco de Portugal, Universidade Catolica Portuguesa and CEPR Pedro Teles; Banco de Portugal, Universidade Catolica Portuguesa and CEPR
Presented by: Isabel Correia, Banco de Portugal, Universidade Catolica
Debt Management under Incomplete Markets and Transaction Costs
By Elisa Faraglia; London Business School Albert Marcet; IAE and CEPR Andrew J. Scott; London Business School and CEPR
Presented by: Elisa Faraglia, London Business School
Cyclical Government Spending, Income Inequality and Welfare in Small Open Economies
By Guay Lim, University of Melbourne Paul McNelis, Fordham University
Presented by: Paul McNelis, Fordham University
Central Bank Lending and Inflation
By Todd Keister; Federal Reserve Bank of New York
Presented by: Todd Keister, Federal Reserve Bank of New York

Session 45: Exchange Rates & Prices
Date: July 3, 2009
Time: 10:00 - 12:00
Income Differences and Prices of Tradables
By Ina Simonovska Department of Economics University of Minnesota
Presented by: Ina Simonovska, University of Minnesota
Local Costs of Distribution, International Trade Costs and Micro Evidence on the Law of One Price
By Rahul Giri; Instituto Tecnologico Autonomo de Mexico
Presented by: Rahul Giri, Instituto Tecnológico Autónomo de México
The dynamics of international trade invoicing
By Linda Goldberg; Federal Reserve Bank of New York and NBER Ceric Tille; Graduate Institute for International and Development Studies, Geneva, and CEPR
Presented by: Cedric Tille, Graduate Institute of International and
The Geography of Consumer Prices
By Attila Ratfai; Central European University Adam Reiff; National Bank of Hungary
Presented by: Attila Ratfai, Central European University

Session 46: Learning in Macro and Finance
Date: July 3, 2009
Time: 10:00 - 12:00
Du subjectiv expectations explain asset pricing puzzles?
By Gurdip Bakshi; Department of Finance, University of Maryland Georgios Skoulakis; Department of Finance, University of Maryland
Presented by: Georgios Skoulakis, University of Maryland
Recessions are a Time to Shine: A theory of attention allocation over the business cycle
By Marcin Kacperczyk; NYU Stern Stijn Van Nieuwerburgh; NYU Stern Laura Veldkamp; NYU Stern
Presented by: Laura Veldkamp, NYU Stern
Learning, Ambiguity and Life-Cycle Portfolio Allocation
By Claudio Campanale Universidad de Alicante
Presented by: Claudio Campanale, University of Alicante
Learning About Identification
By In-Koo Cho; University of Illinois Kenneth Kasa; Simon Fraser University
Presented by: In-Koo Cho, University of Illinois

Session 47: Models of Community Interaction
Date: July 3, 2009
Time: 10:00 - 12:00
diversity and popularity in social networks
By Yann Bramoullé, Laval University Brian W. Rogers, MEDS, Northwestern University
Presented by: Yann Bramoullé, Laval
Community Enforcement Beyond the Prisoner's Dilemma
By Joyee Deb, New York University Julio González-Díaz, Universidad de Vigo
Presented by: Joyee Deb, New York University
Endogenous matching predictions in a repeated partnership model with imperfect monitoring
By Ayca Kaya; University of Iowa Galina Vereshchagina; Arizona State University
Presented by: Galina Vereshchagina, Arizona State University
Optimal City Hierarchy: A Dynamic Programming Approach to Central Place Theory
[slides]
By Thomas J. Holmes, University of Minnesota Wen-Tai Hsu, Chinese University of Hong Kong
Presented by: Wen-Tai Hsu, Chinese University of Hong Kong

Session 48: Empirical Studies on the Turkish Economy 2
Date: July 3, 2009
Time: 10:00 - 12:00
EMPIRICAL EVIDENCE FOR DAY OF THE WEEK EFFECT IN AN EMERGING MARKET: THE TURKISH CASE
By Sadullah Çelik, Marmara University Hüseyin Kaya, Bahçeşehir University
Presented by: Sadullah Çelik, Marmara University
INFLATION TARGETING AND EXCHANGE RATE DYNAMICS: EVIDENCE FROM TURKEY
By K. Azim Özdemir, The Central Bank of Turkey Serkan Yiğit, The Central Bank of Turkey
Presented by: Kazim Ozdemir, The Central Bank of Turkey
Financing Constraints and Investment: The Case of Turkish Manufacturing Firms
By Sevcan Yesiltas, Bilkent University
Presented by: sevcan yesiltas, bilkent university

Session 49: Open Economy Issues
Date: July 3, 2009
Time: 10:00 - 12:00
Adjustment under trade liberalization, labor market segmentation, and informal employment: A dynamic general equilibrium analysis of a three-sector-open economy
By D. Sirin Saracoglu; Middle East Technical University
Presented by: Durdane Saracoglu, Middle East Technical University
Imported inputs and countercyclicality of net exports in emerging markets
By S. Tolga Tiryaki; Central Bank of Turkey, University of York
Presented by: Suleyman Tiryaki, University of York
Worthy Transfers? A Dynamic Analysis of Turkey's Accession to the European Union
By Gül Ertan Özgüzer; Izmir University of Economics, IRES-Catholic University of Louvain-Luca Pensieroso; IRES-Catholic University of Louvain
Presented by: gül ertan, ieu, ires
Fical Solvency and Currency Crises: the short-term debt flows perspective
By Ayse Ertugrul Bahcesehir Univeristy
Presented by: Ayse Ertugrul, Bahcesehir University

Session 50: Corporate Finance
Date: July 3, 2009
Time: 13:15 - 15:45
Equilibrium Credit Spreads and the Macroeconomy
By Joao Gomes; University of Pennsylvania Lukas Schmid; Duke University
Presented by: Lukas Schmid, Duke University
The Deep-Pocket Effect of Internal Capital Markets
By Xavier Boutin; CREST(LEI) and European Commission Giacinta Cestone; Queen Mary University of London, CSEF, CEPR and ECGI Chiara Fumagalli; Università Bocconi, CSEF and CEPR Giovanni Pica; Università di Salerno and CSEF Nicolas Serrano-Velarde; European University Institute and Oxford University
Presented by: Nicolas Serrano-Velarde, European University Institute & Oxford University
Collateral and Capital Structure
By Adriano Rampini; Duke University S. Viswanathan; Duke University
Presented by: Adriano Rampini, Duke University
Credit Crunched? Consequences on Corporate Financial Policy, Investment, and Risk
By Daniel Paravisini; Columbia University GSB Huidan Lin; Columbia University
Presented by: Daniel Paravisini, Columbia Business School

Session 51: RED Mini-Conference on Sources of Business-Cycle Fluctuations, Session 2
Date: July 3, 2009
Time: 13:15 - 15:15
Understanding the Aggregate Effects of Anticipated and Unanticipated Tax Policy shocks
By Karel Mertens; Cornell University Morten O. Ravn; University College London, University of Southampton and CEPR
Presented by: Morten Ravn, University of Southampton
Investment Shocks and the Relative Price of Investment
By Alejandro Justiniano; Federal Reserve Bank of Chicago Giorgio E. Primiceri; Northwestern University, CEPR and NBER Andrea Tambalotti, Federal Reserve Bank of New York
Presented by: Andrea Tambalotti, Federal Reserve Bank of New York
Information and Propagation
By Eric M. Leeper; Indiana University, NBER Todd B. Walker; Indiana University
Presented by: Todd Walker, Indiana University

Session 52: Adverse Selection and General Equilibrium
Date: July 3, 2009
Time: 13:15 - 15:15
Equilibrium corporate finance
By Piero Gottardi, EUI Firenze Guido Ruta, NYU
Presented by: Alberto Bisin, New York University
Adverse Selection, Credit, and Efficiency: the Case of the Missing Market
By Alberto Martin (CREI and Universitat Pompeu Fabra, CEPR)
Presented by: Alberto Martin, CREI and Universitat Pompeu Fabra
Search with Adverse Selection
By Stephan Lauermann Asher Wolinsky
Presented by: Stephan Lauermann, University of Michigan
Adverse Selection in Competitive Search Equilibrium
By Veronica Guerrieri, University of Chicago Robert Shimer, University of Chicago Randall Wright, University of Pennsylvania
Presented by: Veronica Guerrieri, University of Chicago, GSB

Session 53: Multiple Sectors and Growth
Date: July 3, 2009
Time: 13:15 - 15:15
Specialization, Economic Development and Aggregate Productivity Differences
By David Lagakos; Federal Reserve Bank of Minneapolis and Arizona State University Michael Waugh; Federal Reserve Bank of Minneapolis and New York University
Presented by: David Lagakos, Minneapolis Federal Reserve Bank
Many Sectors Meet More Skills: Intersectoral Linkages and the Skill Bias of Technology
By Nico Voigtlaender; UCLA
Presented by: Nico Voigtlaender, UCLA
A Multi-industry Model of Growth with Financing Constraints
By Anna Ilyina; International Monetary Fund Roberto Samaniego; George Washington University
Presented by: Roberto Samaniego, George Washington University
Growing like China
By Zheng Song; Fudan University Kjetil Storesletten; University of Oslo Fabrizio Zilibotti; University of Zurich
Presented by: Zheng Song, Fudan University

Session 54: Employment Contracts in General Equilibrium
Date: July 3, 2009
Time: 13:15 - 15:15
Labor Contracts, Equal Treatment and Wage-Unemployment Dynamics
By Andy Snell (University of Edinburgh) Jonathan P. Thomas (University of Edinburgh)
Presented by: Jonathan Thomas, UNIVERSITY OF EDINBURGH
Aggregate and Idiosyncratic Risk in a Frictional Labor Market
By Leena Rudanko; Boston University
Presented by: Leena Rudanko, Boston University
Block Recursive Equilibria for Stochastic Models of Search on the Job
By Guido Menzio, University of Pennsylvania Shouyong Shi, University of Toronto
Presented by: Guido Menzio, University of Pennsylvania
Discrimination and Employment Protection
By Steinar Holden, Oslo University Åsa Rosén, stockholm University
Presented by: Asa Rosen, Stockholm University

Session 55: Trade & Technology Adoption
Date: July 3, 2009
Time: 13:15 - 15:15
Learning and the Dynamics of Exporting: Theory and Evidence from French Firms
By Romain Aeberhardt; INSEE Ines Buono; Banca d'Italia Harald Fadinger; University of Vienna
Presented by: Harald Fadinger, University of Vienna
Trade Liberalization, Exports and Technology Upgrading: Evidence on the Impact of MERCOSUR on Argentinean Firms
By Paula Bustos; CREI Universitat Pompeu Fabra
Presented by: Paula Bustos, CREI Universitat Pompeu Fabra
Why Are Developing Countries so Slow in Adopting New Technologies?
By Raphael Bergoeing; University of Chile Norman V. Loayza; The World Bank Facundo Piguillem; University of Minnesota
Presented by: Raphael Bergoeing, Universidad de Chile
Innovation, diffusion and trade: theory and measurement
By Ana Maria Santacreu New York University
Presented by: Ana Santacreu, NYU

Session 56: Monetary Policy in Open Economies
Date: July 3, 2009
Time: 13:15 - 15:15
Trade and Optimal Monetary Policy
By Giovanni Lombardo; European Central Bank Federico Ravenna; University of California Santa Cruz
Presented by: Giovanni Lombardo, European Central Bank
Currency Areas and International Assistance
By Pierre M Picard; University of Luxembourg and CORE, Université Catholique de Louvain, Louvain-la-Neuve. Tim Worrall; University of Manchester.
Presented by: Tim Worrall, The University of Manchester
Should Monetary Policy React to Current Account Imbalances?
By Giancarlo Corsetti, European University Institute and CEPR Luca Dedola, ECB and CEPR Sylvain Leduc, Federal Reserve Bank of San Francisco
Presented by: Sylvain Leduc, Federal Reserve Bank of San Francisco
CONVERGENCE AND ANCHORING OF YIELD CURVES IN THE EURO AREA
By Michael Ehrmann; ECB Marcel Fratzscher; ECB Refet Gurkaynak; Bilkent University Eric Swanson; FRB San Francisco
Presented by: Refet Gurkaynak, Bilkent University

Session 57: Uncertainty, Asset Prices and Business Cycles
Date: July 3, 2009
Time: 13:15 - 15:15
Disaster risk and business cycles
By Francois Gourio; Boston University, Dept of Economics
Presented by: Francois Gourio, Boston University
Return Predictability and Labor Market Frictions in a Real Business Cycle Model
By Harjoat S. Bhamra, UBC Lars Lochstoer, Columbia University
Presented by: Lars Lochstoer, Columbia University
Investment and the Real Interest Rate in Business Cycle Models
By Chris Edmond; New York University Oleksiy Kryvtsov; Bank of Canada Virgiliu Midrigan; New York University
Presented by: Oleksiy Kryvtsov, Bank of Canada
Uncertain Times, Uncertain Measures
By Michelle Alexopoulos; University of Toronto Jon Cohen; University of Toronto
Presented by: Michelle Alexopoulos, University of Toronto

Session 58: Intergenerational Transfers
Date: July 3, 2009
Time: 13:15 - 15:15
Tough Love For Lazy Kids
By Ctirad Slavık; University of Minnesota Kevin Wiseman; University of Minnesota
Presented by: Kevin Wiseman, University of Minnesota
A Dynamic Model of Altruistically-Motivated Transfers
By Daniel Barczyk; New York University Matthias Kredler; Universidad Carlos III Madrid
Presented by: Daniel Barczyk, New York University
Intergenerational Transmission of Abilities and Self Selection of Mexican Immigrants
By Vincenzo Caponi; Ryerson University, IZA, RCEA
Presented by: Vincenzo Caponi, Ryerson University, IZA, RCEA
Sharing Demographic Risk – Who is Afraid of the Baby Bust?
By Alexander Ludwig, MEA, Universitaet Mannheim Michael Reiter, IHS, Wien
Presented by: Alexander Ludwig, Mannheim Research Institute for the Econ

Session 59: Mechanism Design
Date: July 3, 2009
Time: 13:15 - 15:15
Public Good Provision in a Large Economy
By Felix Bierbrauer; Max Planck Institute for Reserach on Collective Goods,Bonn Martin Hellwig; Max Planck Institute for Research on Collective Goods, Bonn
Presented by: Martin F. Hellwig, Max Planck Institute for Research on Col
Robust Virtual Implementation in Multi-Stage Mechanisms
By Christoph Mueller; University of Minnesota and Federal Reserve Bank of Minneapolis
Presented by: Christoph Mueller, University of Minnesota
Adverse Selection and Non-exclusive Contracts
By Laurence Ales; Tepper School of Business, Carnegie Mellon University Pricila Maziero; University of Minnesota and Minneapolis Fed
Presented by: Laurence Ales, Carnegie Mellon University
Design of Divisible Good Auctions
By Marzena Rostek, University of Wisconsin-Madison Marek Weretka, University of Wisconsin-Madison Marek Pycia, UCLA
Presented by: Marzena Rostek, University of Wisconsin-Madison

Session 60: Structural Change, Business Cycles and Monetary Policy
Date: July 3, 2009
Time: 13:15 - 15:15
Sources of the Great Moderation: Shocks, Frictions, or Monetary Policy?
By Zheng Liu Federal Reserve Bank of San Francisco Dan Waggoner Federal Reserve Bank of Atlanta Tao Zha Federal Reserve Bank of Atlanta
Presented by: Zheng Liu, Federal Reserve Bank of San Francisco
Regime Switches, Agents’ Beliefs, and Post-World War II U.S. Macroeconomic Dynamics
By Francesco Bianchi Princeton University
Presented by: Francesco Bianchi, Princeton Univeristy
Monetary Policy Regime Shifts and Inflation Persistence
By Troy Davig (Federal Reserve Bank of Kansas City) and Taeyoung Doh (Federal Reserve Bank of Kansas City)
Presented by: Taeyoung Doh, Economic Research Dept.
Model Selection in Unstable Environments
By Raffaella Giacomini (UCL) Barbara Rossi (Duke)
Presented by: Barbara Rossi, Duke University

Session 61: Tax Policy: Theory & Quantitative Evaluation
Date: July 3, 2009
Time: 13:15 - 15:15
What is the optimal path of energy taxes? A quantitative evaluation
By John Hassler; Institute for International Economic Studies, Stockholm university Per Krusell; Princeton University, Institute for International Economic Studies, Stockholm university Conny Olovsson; Institute for International Economic Studies, Stockholm university
Presented by: Conny Olovsson, IIES, Stockholm University
Social Discounting and Incentive Compatible Fiscal Policy
[slides]
By Catarina Reis; Universidade Catolica Portuguesa
Presented by: Catarina Reis, Universidade Católica Portuguesa
Optimal Taxation Over the Life Cycle
By Ezra Oberfield; University of Chicago Aspen Gorry; University of Chicago
Presented by: Ezra Oberfield, University of Chicago
Fragility: A Quantitative Analysis of the US Health Insurance System
By Bjoern Bruegemann, Yale University Iourii Manovskii, University of Pennsylvania
Presented by: Bjorn Brugemann, Yale University

Session 62: New Perspectives on International Capital Flows
Date: July 3, 2009
Time: 15:45 - 17:45
Distinguishing Across Models of International Capital Flows
By Alexander Karaivanov, Simon Fraser University Mark Wright, UCLA
Presented by: Alexander Karaivanov, Simon Fraser University
International Capital Flows and World Output Gains
By Jürgen von Hagen, University of Bonn, Indiana University, CEPR Haiping Zhang, Singapore Management University
Presented by: Haiping Zhang, Singapore Management University
Bad Investments and Missed Opportunities: Capital Flows to Latin America and Asia, 1950-2004
By Lee E. Ohanian; UCLA and NBER Paulina Restrepo Echavarria; UCLA Mark L. J. Wright; UCLA
Presented by: Paulina Restrepo Echavarria, UCLA
Why Do Emerging Economies Import Direct Investment and Export Savings? A Story of Financial Underdevelopment
By Katherine Smith, U.S. Naval Academy Diego Valderrama, Federal Reserve Bank of San Francisco
Presented by: Diego Valderrama, Federal Reserve Bank of San Francisco

Session 63: Insurance for Health and Longevity Risk
Date: July 3, 2009
Time: 15:45 - 17:45
The Impact of Medical and Nursing Home Expenses and Social Insurance Policies on Savings and Inequality
By Karen A. Kopecky, University of Western Ontario Tatyana Koreshkova, Concordia University and CIREQ
Presented by: Karen Kopecky, The University of Western Ontario
Longevity Risk and Retirement Savings
By Francisco Gomes London Business School Joao Cocco London Business School
Presented by: Francisco Gomes, London Business School
How deep is the annuity market participation puzzle?
By Joachim Inkmann (Tilburg) Paula Lopes (Universidade Catolica Portuguesa) Alex Michaelides (LSE)
Presented by: Alexander Michaelides, London School of Economics
Optimal Health and Longevity Insurance
By Ralph S.J. Koijen, University of Chicago Stijn Van Nieuwerburgh, New York University Motohiro Yogo, University of Pennsylvania
Presented by: Motohiro Yogo, University of Pennsylvania

Session 64: Sorting
Date: July 3, 2009
Time: 15:45 - 17:45
Identifying Sorting, In Theory
By Jan Eeckhout, UPF and UPenn Philipp Kircher, UPenn
Presented by: Jan Eeckhout, University of Pennsylvania
An Empirical Model of Wage Dispersion with Sorting
By Jesper Bagger; University of Aarhus Rasmus Lentz; University of Wisconsin-Madison
Presented by: Jesper Bagger, public
Learning Your Comparative Advantages
By Theodore Papageorgiou; Penn State University
Presented by: Theodore Papageorgiou, Penn State University
In the Wrong Hands: Complementarities, Resource Allocation, and Aggregate TFP
By Simeon Alder; UCLA
Presented by: Simeon Alder, UCLA

Session 65: Investment Frictions
Date: July 3, 2009
Time: 15:45 - 17:45
Dynamic Hedging in Incomplete Markets: A Simple Solution
By Suleyman Basak; London Business School Georgy chabakauri; London Business School
Presented by: Suleyman Basak, London Business School
Entrepreneurship, Occupational Choice and the Distribution of Idiosyncratic Risk
By Stefania Albanesi, Columbia University
Presented by: Stefania Albanesi, Columbia
State Verification and the Incentives to Save
By Roc Armenter, Federal Reserve Bank of Philadelphia Thomas Mertens, Harvard University
Presented by: Roc Armenter, Federal Reserve Bank of Philadelphia
Optimal Capital Taxation in an Economy with Capital Allocation Frictions
By David M. Arseneau, Federal Reserve Board Sanjay K. Chugh, University of Maryland Andre Kurmann, University of Quebec at Montreal
Presented by: Andre Kurmann, UQAM

Session 66: The Economics of the Family: Marriage, Education, and Labor Supply
Session Chair: Fatih Guvenen, University of Minnesota
Date: July 3, 2009
Time: 15:45 - 17:45
Emancipation through Education
By Fatih Guvenen, University of Minnesota Michelle Rendall, University of Oslo
Presented by: Fatih Guvenen, University of Minnesota
The Rug Rat Race
By Garey Ramey; University of California, San Diego Valerie Ramey; University of California, San Diego
Presented by: Valerie Ramey, University of California, San Diego
Nature or Nurture? Learning and the Geography of Female Labor Force Participation
By Alessandra Fogli, University of Minnesota and Minneapolis FED Laura Veldkamp, Stern School of Business, NYU
Presented by: Alessandra Fogli, Minneapolis Federal Reserve and CEPR
Marriage matching, risk sharing and spousal labor supplies
By Eugene Choo, University of Calgary Shannon Seitz, Boston College Aloysius Siow, University of Toronto
Presented by: Aloysius Siow, University of Toronto

Session 67: Public Policy and Political Economy Distortions
Date: July 3, 2009
Time: 15:45 - 17:45
Rotten Parents and Disciplined Children: A Politico-Economic Theory of Public Expenditure and Debt
By Zheng Song Fudan University Kjetil Storesletten University of Oslo Fabrizio Zilibotti University of Zurich
Presented by: Kjetil Storesletten, University of Oslo
Optimal Debt Management and Redistribution
By Pierre Yared, Columbia University
Presented by: Pierre Yared, Columbia University
On the Case for a Balanced Budget Amendment to the U.S. Constitution
By Marco Battaglini, Steve Coate, Marina Azzimonti
Presented by: Marco Battaglini, Princeton University
On the value of societal commitment
By Christopher Sleet, Carnegie Mellon University
Presented by: Christopher Sleet, Carnegie Mellon University

Session 68: RED Mini-Conference on Sources of Business-Cycle Fluctuations, Session 3
Date: July 3, 2009
Time: 15:45 - 17:45
News Driven Business Cycles in Heterogenous Agents Economies
By Paul Beaudry, University of British Columbia FRanck Portier, Toulouse School of Economics
Presented by: Franck Portier, Toulouse School of Economics
Implications of Resource Reallocation and Technical Progress for Macroeconomic Fluctuations: Evidence from Plant-Level U.S. Manufacturing Data
By Amil Petrin; University of Minnesota,Twin Cities and NBER Kirk White; Economic Research Service, U.S. Department of Agriculture Jerome P. Reiter; Duke University
Presented by: Amil Petrin, University of Minnesota
News and knowledge capital
By Christopher Gunn; McMaster University Alok Johri; McMaster University
Presented by: Alok Johri, McMaster University

Session 69: Banking and Financial Markets
Date: July 3, 2009
Time: 15:45 - 17:45
Financial Integration, Liquidity and the Depth of Systemic Crises
By Fabio Castiglionesi; Tilburg University Fabio Feriozzi; Tilburg University Guido Lorenzoni; MIT
Presented by: Fabio Castiglionesi, Tilburg University
Banking: a mechanism design approach
By Fabrizio Mattesini; Università di Roma "Tor Vergata" Cyril Monnet; Federal Reserve Bank of Philadelphia Randall Wright; University of Pennsylvania
Presented by: Fabrizio Mattesini, University of Rome Tor Vergata
Liquidity hoarding and interbank market spreads: the role of counterparty risk
By Florian Heider; European Central Bank Marie Hoerova; European Central Bank Cornelia Holthausen; European Central Bank
Presented by: Marie Hoerova, European Central Bank
On the Fragility of Reputation in Financial Markets
By V V Chari, University of Minnesota and Federal Reserve Bank of Minneapolis Ali Shourideh, University of Minnesota Ariel Zetlin-Jones, University of Minnesota
Presented by: V. Chari, Federal Reserve Bank of Minneapolis

Session 70: Models of Organizations
Date: July 3, 2009
Time: 15:45 - 17:45
Incentives and the Structure of Teams
By April Franco, University of Toronto; Matt Mitchell, University of Toronto; Galina Vereshchagina, Arizona State University
Presented by: April Franco, University of Iowa
Dynamic Managerial Compensation: A Mechanism Design Approach
By Alessandro Pavan (Northwestern) Daniel Garrett (Northwestern)
Presented by: Alessandro Pavan, Northwestern University
Communication and Consensus
By Archishman Chakraborty; York University Bilge Yilmaz; Stanford University
Presented by: Bilge Yilmaz, Stanford University
Free-Riding And Delegation In Research Teams
By Nicolas Klein, University of Munich
Presented by: Nicolas Klein, University of Munich

Session 71: Reacting to New Information: Theory and Applications
Date: July 3, 2009
Time: 15:45 - 17:45
Higher-Order Beliefs and the Business Cycle
By George-Marios Angeletos; MIT Jennifer La'O; MIT
Presented by: George-Marios Angeletos, M.I.T.
Ambiguous Information, Risk Aversion, and Asset Pricing
By Philipp Karl ILLEDITSCH; Wharton
Presented by: Philipp ILLEDITSCH, Wharton
A Subjective Model of Temporal Preferences
By Haluk Ergin; Washington University in Saint Louis, Dept. Economics Todd Sarver; Nortwestern University, Dept. Economics
Presented by: Haluk Ergin, Washington University in Saint Louis
Analytical Solutions to Rational Inattention Problems
By Mirko Wiederholt; Northwestern University
Presented by: Mirko Wiederholt, Northwestern University

Session 72: Employment and the Life Cycle
Date: July 3, 2009
Time: 15:45 - 17:45
Demographics and Hours Worked in the U.S.
By Kaiji Chen Department of Economics, University of Oslo. Ayse Imrohoroglu Department of Finance and Business Economics, Marshall School of Business, University of Southern California Selahattin Imrohoroglu Department of Finance and Business Economics, Marshall School of Business, University of Southern California
Presented by: Ayse Imrohoroglu, usc
A Life Cycle Model of Trans-Atlantic Employment Experiences
By Sagiri Kitao; University of Southern California Lars Ljungqvist; Stockholm School of Economics Thomas J. Sargent; New York University
Presented by: LARS LJUNGQVIST, STOCKHOLM SCHOOL OF ECONOMICS
High-Powered Jobs: Can Contraception Technology Explain Trends in Women's Occupational Choice?
By John Knowles; University of Southampton
Presented by: John Knowles, University of Southampton
Age-Design Employment Protection
By Arnaud Chéron; University of Maine (GAINS-TEPP) and EDHEC Jean-Olivier Hairault; Paris School of Economics, University of Paris I and IZA François Langot; University of Maine (GAINS-TEPP), University of Paris 2 (ERMES) and IZA
Presented by: françois langot, cepremap

Session 73: Empirical Methods for Policy Analysis
Date: July 3, 2009
Time: 15:45 - 17:45
A Structural Evaluation of a Large-Scale Quasi-Experimental Microfinance Initiative
By Joseph P. Kaboski; Ohio State University Robert M. Townsend; MIT
Presented by: Joseph Kaboski, The Ohio State University
Contracting for Educational Achievement
By Maria Marta Ferreyra Tepper School of Business Carnegie Mellon University Pierre Liang Tepper School of Business Carnegie Mellon University
Presented by: Maria Ferreyra, Carnegie Mellon University
Divorce Laws and Divorce Rate in the U.S.
By Stefania Marcassa University of Minnesota
Presented by: Stefania Marcassa, University of Minnesota and Minneapolis FED
Efficient Training Programs for Workers on Welfare
By Nicola Pavoni, UCL Ofer Setty, NYU Gianluca Violante, NYU
Presented by: Nicola Pavoni,

Session 74: Consumption Smoothing and Insurance
Date: July 4, 2009
Time: 10:00 - 12:00
How does Household Consumption Respond to Income Shocks?
By Dirk Krueger, University of Pennsylvania Fabrizio Perri, University of Minnesota
Presented by: Dirk Krueger, University of Pennsylvania
Inequality and Aggregate Fluctuations
By Jonathan Heathcote Kjetil Storesletten Gianluca Violante
Presented by: Gianluca Violante, New York University
Distinguishing barriers to insurance in Thai villages
By Cynthia Kinnan; MIT
Presented by: Cynthia Kinnan, MIT
INSURANCE, INVESTMENT, AND THE EXTENDED FAMILY
By manuela angelucci University of Arizona giacomo de giorgi Stanford University marcos rangel University of Chicago imran rasul University College London
Presented by: Manuela Angelucci, University of Arizona

Session 75: Macroeconomic Effects of Oil Price Shocks
Date: July 4, 2009
Time: 10:00 - 12:00
Oil price shocks: Demand vs Supply in a two-country
By Alessia Campolmi; Central European University and Magyar Nemzeti Bank
Presented by: Alessia Campolmi, Central European University & Magyar Nem
Time-Varying Effects of Oil Supply Shocks on the US Economy
By Christiane Baumeister, Ghent University Gert Peersman, Ghent University
Presented by: Gert Peersman, Ghent University
Measuring Oil-price Shocks Using Market-based Information
[slides]
By Tao Wu, Research Department, Federal Reserve Bank of Dallas Michele Cavallo, International Finance Division, Federal Reserve Board
Presented by: Tao Wu, Federal Reserve Bank of Dallas
Pitfalls in Estimating Asymmetric Effects of Energy Price Shocks
By Lutz Kilian ; University of Michigan and CEPR Robert J. Vigfusson ; Federal Reserve Board
Presented by: Robert Vigfusson, Federal Reserve Board

Session 76: Productivity
Date: July 4, 2009
Time: 10:00 - 12:00
Policy Instability and Productivity
By Rody Manuelli Washington University in St. Louis Yongs Shin Washington University in St. Louis
Presented by: Rodolfo Manuelli, University of Wisconsin
Innovation, Firm Dynamics, and International Trade
By Andrew Atkeson (UCLA) Ariel Burstein (UCLA)
Presented by: Ariel Burstein, UCLA
Firm productivity and local externalities
By Hugo Hopenhayn, UCLA
Presented by: Hugo A. Hopenhayn, UCLA
Accounting for Plant-level Misallocation
By Virgiliu Midrigan, New York University Daniel Yi Xu, New York University
Presented by: Daniel Yi Xu, New York University

Session 77: Current Account Dynamics
Date: July 4, 2009
Time: 10:00 - 12:00
Excess Volatility of Consumption in Developed and Emerging Markets: The Role of Durable Goods
By Fernando A. Alvarez, Central Bank of Venezuela Luis B. Marques, Johns Hopkins University (SAIS) Manuel Toledo, Universidad Carlos III (Department of Economics)
Presented by: Luis Marques, Johns Hopkins University
Housing Markets and Current Account Dynamics
By Pedro Gete University of Chicago
Presented by: Pedro Gete, University of Chicago
International Trade and Labor Income Risk in the United States
By Pravin Krishna; Johns Hopkins University and NBER Mine Zeynep Senses; Johns Hopkins University
Presented by: Mine Senses, Johns Hopkins University
Risk Matters: The Real E¤ects of Volatility Shocks
By Jesús Fernández-Villaverde (University of Pennsylvania) Pablo A. Guerron-Quintana (North Carolina State U) Juan Rubio-Ramirez (Duke U) Martin Uribe (Columbia U)
Presented by: Jesus Fernandez-Villaverde, University of Pennsylvania

Session 78: Finance and Recessions
Date: July 4, 2009
Time: 10:00 - 12:00
A Model of Capital and Crises
By Zhiguo He, Chicago Booth Arvind Krishnamurthy, Northwestern Kellogg
Presented by: Zhiguo He, University of Chicago, GSB
Bailouts, the Incentive to Manage Risk, and Financial Crises
By Stavros Panageas, University of Chicago, Booth School of Business and NBER
Presented by: Stavros Panageas, University of Chicago - Booth School of Business
Illiquidity and Under-Valuation of Firms
By Douglas Gale; New York University Piero Gottardi; European University Institute
Presented by: piero gottardi, European University Institute
Bank Competition and Economic Stability: The Role of Monetary Policy
By This paper analyzes the dual role of monetary policy for economic efficiency and stability in a model of endogenous bank competition. Multiple equilibria emerge from the complementarity between bank and non-financial firm decisions. Adverse aggregate or idiosyncratic liquidity shocks may cause a breakdown in which the economy collapses into a no-production equilibrium. Less bank competition improves the profitability of banks and makes the economy less vulnerable to adverse shocks but it also distorts the efficient allocation of capital. This stability/efficiency tradeoff creates a motive for monetary policy to be tight when liquidity is abundant to spur bank competition and to be loose in bad times to restore the profitability of banks and decrease the likelihood of economic and financial crashes.
Presented by: Sylvain Champonnois, University of California, San Diego

Session 79: Search and Matching
Date: July 4, 2009
Time: 10:00 - 12:00
An Equilibrium Theory of Learning, Search and Wages
By Francisco Gonzalez (University of Calgary) Shouyong Shi (University of Toronto)
Presented by: Shouyong Shi, University of Toronto
Unemployment and Human Capital
By Fernando Alvarez, University of Chicago Robert Shimer, University of Chicago
Presented by: Robert Shimer, University of Chicago
The U-Shapes of Occupational Mobility
By Fane Nadja Groes, University of Kopenhagen Iourii Manovski, University of Pennsylvania Philipp Kircher, University of Pennsylvania
Presented by: Philipp Kircher, University of Pennsylvania
Non-Stationary Search Equilibrium
By Giuseppe Moscarini, Yale University Fabien Postel-Vinay, University of Bristol
Presented by: Giuseppe Moscarini, Yale University

Session 80: Trade & Growth
Date: July 4, 2009
Time: 10:00 - 12:00
Structural Change in an Open Economy
By Kei-Mu Yi; Research Department, Federal Reserve Bank of Philadelphia Jing Zhang; Department of Economics, University of Michigan
Presented by: Kei-Mu Yi, Federal Reserve Bank of Philadelphia
Capital-goods imports, investment-specific technological change and U.S. growth
[slides]
By Michele Cavallo; Federal Reserve Board Anthony Landry; Federal Reserve Bank of Dallas
Presented by: Michele Cavallo, Board of Governors of the Federal Reserve System
Structural Transformation and the Oil Price
By Radoslaw Stefanski; University of Minnesota
Presented by: Radoslaw Stefanski, University of Minnesota
Fiscal Decentralization, Endogenous Policies and Technology Adoption: Theory and Evidence from China and India's FDI
By Yong Wang University of Chicago
Presented by: Yong Wang, University of Chicago

Session 81: Product Creation and Destruction
Date: July 4, 2009
Time: 10:00 - 12:00
Product diversification, creation and destruction: Micro evidence and aggregate implications
By Chris Edmond, NYU Stern Virgiliu Midrigan, NYU Daniel Xu, NYU
Presented by: Chris Edmond, New York University
Multi-product Firms and Product Turnover in the Developing World: Evidence from India
By Penny Goldberg, Princeton & NBER Amit Khandelwal, Columbia Business School Nina Pavcnik, Dartmouth & NBER Petia Topalova, IMF
Presented by: Amit Khandelwal, Columbia Business School
The Role of Exporting and Trade for Entry over the Business Cycle
By George Alessandria, Federal Reserve Bank of Philadelphia Horag Choi, University of Auckland
Presented by: Horag Choi, The University of Auckland
Economies of Scale and the Size of Exporters
By Roc Armenter; Federal Reserve Bank of Philadelphia Miklos Koren; Central European University
Presented by: Miklos Koren, Central European University

Session 82: New Dynamic Public Finance
Date: July 4, 2009
Time: 10:00 - 12:00
Optimal Policy and the Risk-Properties of Human Capital Reconsidered
By Dan Anderberg, Royal Holloway University of London
Presented by: Dan Anderberg, University of London
Dynamic Strategic Information Transmission
By Mikhail Golosov MIT Vasiliki Skreta NYU Aleh Tsyvinski Yale Andrea Wilson NYU
Presented by: Mikhail Golosov, MIT
Non-Exclusive Dynamic Contracts, Competition, and the Limits of Insurance
By Pricila Maziero, University of Minnesota and Minneapolis Fed Laurence Ales, Tepper School of Business, Carnegie Mellon University
Presented by: Pricila Maziero, University of Minnesota and Minneapolis Fed
Capital Taxation: Quantitative Explorations of the Inverse Euler Equation
By Emmanuel Farhi; Harvard Ivan Werning; MIT
Presented by: Emmanuel Farhi, Harvard University

Session 83: Expectations in DSGE Models
Date: July 4, 2009
Time: 10:00 - 12:00
Anticipated Alternative Instrument-Rate Paths in Policy Simulations
By Stefan Laseen; Sveriges Riksbank Lars E.O. Svensson; Sveriges Riksbank and Princeton University
Presented by: Stefan Laseen, Sveriges Riksbank
Modeling Inflation Expectations
By Marco Del Negro; Federal Reserve Bank of New York Stefano Eusepi; Federal Reserve Bank of New York
Presented by: Stefano Eusepi, Fedral Reserve Bank of New York
Estimating a medium–scale DSGE model with expectations based on small forecasting models
By Sergey Slobodyan; CERGE-EI Raf Wouters; NBB
Presented by: Sergey Slobodyan, CERGE-EI
Disciplining expectations: adding survey expectations in learning models
By Arturo Ormeno; Universitat Pompeu Fabra
Presented by: Arturo Ormeno, Universitat Pompeu Fabra

Session 84: Bargaining in a Non-stationary Environment
Date: July 4, 2009
Time: 10:00 - 12:00
From Equals to Despots: The Dynamics of Repeated Group Decision Taking with Private Information
By Vinicius Carrasco, PUC Rio William Fuchs, University of Chicago
Presented by: William Fuchs, University of Chicago
The Dynamics of Bargaining Postures: The Role of a Third Party
By Jihong Lee (Birkbeck College, University of London) and Qingmin Liu (University of Pennsylvania).
Presented by: Qingmin Liu, Economics Department
Bargaining with Deadlines
By William Fuchs, University of Chicago Andrzej Skrzypacz, Stanford
Presented by: Andrzej Skrzypacz, Stanford University
Reputation Formation with Hidden R&D
By Simon Board, UCLA Moritz Meyer-ter-Vehn, UCLA
Presented by: Simon Board, UCLA

Session 85: Credit Risk: Theory & Measurement
Date: July 4, 2009
Time: 10:00 - 12:00
Equilibrium Subprime Lending
By Igor Makarov; London Business School Guillaume Plantin; London Business School
Presented by: Igor Makarov, London Business School
Securitization and Distressed Loan Renegotiation: Evidence from the Subprime Mortgage Crisis
By Tomasz Piskorski, Columbia Business School Amit Seru, University of Chicago Vikrant Vig, London Business School
Presented by: Tomasz Piskorski, Columbia GSB
Ambiguity, Information Quality and Credit Risk
By Nina Boyarchenko; University of Chicago Booth School of Business
Presented by: Nina Boyarchenko, University of Chicago Graduate School of
A model of credit risk without commitment
By Juan Carlos Hatchondo, Federal Reserve Bank of Richmond Leonardo Martinez, Federal Reserve Bank of Richmond
Presented by: Leonardo Martinez,

Session 86: Studies on Crises, Pollution and Trade
Date: July 4, 2009
Time: 10:00 - 12:00
Pollution, Abatementm and Sustainable Growth: A Schumpeterian Approach
By Oya Pinar Ardic; Bogazici University G. Bahar Senol, Bogazici University
Presented by: Oya Ardic, Bogazici University
An Early Warning Signals Approach to the Currency Crises: The Turkish Case
By Ali ARI LEAD, Université du Sud, Toulon-Var, France
Presented by: Ali Ari, Université du Sud, Toulon-Var
Intergenerational Effects of Trade Liberalization
By Erhan Artuc, Koc University, Istanbul
Presented by: Erhan Artuc, Koc University, Istanbul

Session 87: Applied Macroeconomic Analyses with DSGE Models
Date: July 4, 2009
Time: 13:15 - 15:15
Monetary Policy, Trend Inflation and the Great Moderation: An Alternative Interpretation
By Olivier Coibion, College of William & Mary Yuriy Gorodnichenko, UC Berkeley
Presented by: Yuriy Gorodnichenko, UC Berkeley
Potential and natural output
By Alejandro Justiniano, Chicago Fed Giorgio Primiceri, Northwestern University
Presented by: Giorgio Primiceri, Northwestern University
Matching Micro and Macro Facts in a Model of State-Dependent Pricing
By John Leahy, New York University Jonathan Willis, Federal Reserve Bank of Kansas City
Presented by: Jonathan Willis, Federal Reserve Bank of Kansas City
Correlated Disturbances and U.S. Business Cycles
By Vasco Curdia, FRB New York Ricardo Reis, Columbia University
Presented by: Ricardo Reis, Columbia University

Session 88: Monetary Economics
Date: July 4, 2009
Time: 13:15 - 15:15
Monetary Theory with Non-degenerate Distributions
By Guido Menzio; University of Pennsylvania Shouyong Shi; University of Toronto Hongfei Sun; Queen's University
Presented by: Hongfei Sun, Queen's University
Money and Costly Credit
By Mei Dong Simon Fraser University
Presented by: Mei Dong, Simon Fraser University
Liquidity and Growth
By Aleksander Berentsen; University of Basel Mariana Rojas Breu; University of Basel Shouyong Shi; University of Toronto
Presented by: Aleksander Berentsen, University of Basel
Optimal Stabilization with Endogenous Firm Entry
By Christopher Waller: University of Notre Dame and FRB-St. Louis Aleksander Berentsen; University of Basel.
Presented by: Christopher Waller, University of Notre Dame

Session 89: Empirical Methods in Microeconomics
Date: July 4, 2009
Time: 13:15 - 15:15
Methods for Using Selection on Observed Variables to Address Selection on Unobserved Variables
By Joseph G. Altonji, Yale University Timothy Conley, University of Chicago Todd Elder, Michigan State University Christopher R. Taber, University of Wisconsin
Presented by: Joseph Altonji, Yale University
Matching, Sorting and Wages
By Jeremy Lise, UCL & IFS Costas Meghir, UCL & IFS Jean-Marc Robin, PSE & UCL
Presented by: Jeremy Lise, University College London
Choice of product under government regulation: The case of Chile's privatized pension system
By Elena Krasnokutskaya, Ludwig Ressner, Petra Todd
Presented by: Petra Todd, University of Pennsylvania
On the Identification of Information Sets with Preference Heterogeneity
By Flavio Cunha, University of Pennsylvania
Presented by: Flavio Cunha, University of Pennsylvania

Session 90: Heterogeneity and Growth
Date: July 4, 2009
Time: 13:15 - 15:15
Creditor Rights, Inequality and Development in a Neoclassical Growth Model
By Benjamin Moll - University of Chicago
Presented by: Benjamin Moll, University of Chicago
Polarization under incomplete markets and endogenous labor productivity
By Albert Marcet, IAE (CSIC) Francesc Obiols-Homs, UAB
Presented by: Francesc Obiols Homs,
Entry Costs, Misallocation, and Cross-Country Income and TFP Differences
By Levon Barseghayn; Cornell University Riccardo DiCecio; FRB of St. Louis
Presented by: Riccardo DiCecio, Federal Reserve Bank of St. Louis
Firm Size, Innovation Dynamics and Growth
By Ufuk Akcigit; MIT
Presented by: Ufuk Akcigit, Massachusetts Institute of Technology

Session 91: Political Economy
Date: July 4, 2009
Time: 13:15 - 15:15
International migration and the generosity of the welfare state: free vs policy-controlled migration
By Alon Cohen, Tel Aviv University Assaf Razin, Tel Aviv University and Cornell University
Presented by: Assaf Razin, Cornell University
Economic Volatility and Political Institutions
By Alessandra Bonfiglioli; IAE-CSIC Gino Gancia; CREI UPF and CEPR
Presented by: Alessandra Bonfiglioli, Institute for Economic Analysis
Ideology and Endogenous Constitutions
By Alessandro Riboni, University of Montreal
Presented by: Alessandro Riboni, University of Montreal
"Decolonization: the Role of Changing World Factor Endowments"
By Roberto Bonfatti; LSE and Oxford University
Presented by: Roberto Bonfatti, LSE

Session 92: Matching in Labor Markets
Date: July 4, 2009
Time: 13:15 - 15:15
Labour market effects of public sector employment and wages
By Pedro Gomes, London School of Economics
Presented by: Pedro Gomes, London School of Economics
Labor Market Friction, Firm Heterogeneity, and Aggregate Employment and Productivity
By Rasmus Lentz; University of Wisconsin-Madison Dale T. Mortensen; Northwestern University and Aarhus University
Presented by: Rasmus Lentz, University of Wisconsin-Madison
Wage Dispersion and Inter-Firm Bargaining in a Search and Matching Model
By Dale T. Mortensen; Northwestern and Aarhus Universities
Presented by: Dale Mortensen, Northwestern University
Worker Matching and Firm Value
By Espen R. Moen; Norwegian School of Management Eran Yashiv; Tel Aviv University
Presented by: Eran Yashiv, Tel Aviv University

Session 93: Trading Risk in International Financial Markets
Date: July 4, 2009
Time: 13:15 - 15:15
The Role of Multinational Production in a Risky Environment
By Natalia Ramondo, U. Texas-Austin VEronica Rappoport, Columbia Business School
Presented by: Natalia Ramondo, University of Texas at Austin
International and Intra-national Real Exchange Rates: Evidence and Theory
By Michael Devereux; UBC Viktoria Hnatkovska; UBC
Presented by: Viktoria Hnatkovska, University of British Columbia
Risk sensitive allocations with multiple goods in international finance. Existence, survivorship, and dynamics.
By Riccardo Colacito, UNC-Chapel Hill Mariano Croce, UNC-Chapel Hill
Presented by: Riccardo Colacito, University of North Carolina at Chapel Hill
Arbitrage Capital and Currency Carry Trade Returns
By Petri Jylhä, Helsinki School of Economics Matti Suominen, Helsinki School of Economics
Presented by: Matti Suominen, Helsinki School of Economics

Session 94: Firm Risk and Asset Prices
Date: July 4, 2009
Time: 13:15 - 15:15
Organization Capital and the Cross-Section of Expected Returns
By Andrea Eisfeldt; Northwestern University Dimitris Papanikolaou; Northwestern University
Presented by: Andrea Eisfeldt, Northwestern University
Inventory Investment and the Cost of Capital
By Christopher S. Jones, USC Selale Tuzel, USC
Presented by: Selale Tuzel, University of Southern California
Credit Rationing, Risk Aversion and Industrial Evolution in Developing Countries
By Eric Bond, Vanderbilt University James Tybout, Pennsylvania State University Hale Utar, University of Colorado at Boulder
Presented by: Hale Utar, University of Colorado at Boulder
Credit Market Shocks and Economic Fluctuations: Evidence from Corporate Bond and Stock Markets
By Simon Gilchrist; Boston University Vladimir Yankov; Boston University Egon Zakrajsek; Boston University
Presented by: Simon Gilchrist, Boston University

Session 95: Empirical Industrial Organization
Date: July 4, 2009
Time: 13:15 - 15:15
Auctioneers as Agents
By Tanjim Hossain, HKUST Fahad Khalil, University of Washington Matthew Shum, Caltech
Presented by: Tanjim Hossain, HKUST
"When the Highest Bidder Loses the Auction: Theory and Evidence from Public Procurement"
By Francesco Decarolis
Presented by: Francesco Decarolis, The University of Chicago
Social Learning and Optimal Advertising in the Motion Picture Industry
By Hailey Hayeon Joo Department of Economics Ohio University
Presented by: Hailey Hayeon Joo, Ohio University
Identifying Heterogeneity in Economic Choice and Selection Models Using Mixtures
By Jeremy T. Fox, Chicago Amit Gandhi, Wisconsin
Presented by: Jeremy Fox, University of Chicago

Session 96: Real Effects of Credit Market Imperfections
Date: July 4, 2009
Time: 13:15 - 15:15
LENDER EXPERTISE AND PROPAGATION OF CREDIT SHOCKS
By Garey Ramey; University of California, San Diego
Presented by: Garey Ramey, UC San Diego
The Case for a Financial Approach to Money Demand
By Xavier Ragot, Banque de France and Paris School of Economics
Presented by: Xavier Ragot, Paris School of Economics
Real Effects of Price Stability with Endogenous Nominal Indexation
By Cesaire Meh (Bank of Canada) Vincenzo Quadrini (University of Southern California and NBER) Yaz Terajima (Bank of Canada)
Presented by: Cesaire Meh, Bank of Canada
Liquidity and Financial Intermediation
By Ravi Bansal; Duke University and NBER Wilbur John Coleman II; Duke University Christian Lundblad; University of North Carolina at Chapel Hill
Presented by: Wilbur Coleman, Duke University

Session 97: Trade & Firm Heterogeneity
Date: July 4, 2009
Time: 13:15 - 15:15
Firm Heterogeneity and Costly Trade: A New Estimation Strategy and Policy Experiments.
By Ivan Cherkashin; Department of Economics, Pennsylvania State University Svetlana Demidova; Department of Economics, McMaster University Hiau Looi Kee; Development Research Group - Trade, The World Bank Kala Krishna; Department of Economics, Pennsylvania State University and NBER
Presented by: Ivan Cherkashin, Penn State University
Trade Reforms and Market Selection: Evidence from Manufacturing Plants in Colombia
By Marcela Eslava; Universidad de Los Andes John Haltiwanger; University of Maryland, College Park Adriana Kugler; University of Houston Maurice Kugler: Wilfrid Laurier University
Presented by: Marcela Eslava, Universidad de Los Andes
Do Falling Iceberg Costs Account for US Export Growth?
By George Alessandria Federal Reserve Bank of Philadelphia Horag Choi University of Auckland
Presented by: George Alessandria, Federal Reserve Bank of Philadelphia
Human Capital, Product Quality, and Bilateral Trade
By Michael E. Waugh Federal Reserve Bank of Minneapolis NYU
Presented by: Michael Waugh, Federal Reserve Bank of Minneapolis

Session 98: Topics on Crises and Growth
Date: July 4, 2009
Time: 13:15 - 15:15
Provision of Liquidity through the Primary Credit Facility during the Financial Crisis: A Structural Analysis
By Erhan Artuc, Koc University Selva Demiralp, Koc University
Presented by: Selva Demiralp, Koc University
Business Cycle Spillovers
By Kamil Yilmaz; Koc University, Istanbul Turkey
Presented by: Kamil Yilmaz, Koc University
Not-Quite-Great Depressions of Turkey: A Quantitative Analysis of Economic Growth over 1968 - 2004
By Deniz Cicek; University of Minnesota Ceyhun Elgin; University of Minnesota
Presented by: Ceyhun Elgin, University of Minnesota
Growth Facts in Turkey
By Ayse Imrohoroglu; University of Southern California Selahattin Imrohoroglu; University of Southern California Murat Üngör; University of Southern California
Presented by: Selahattin Imrohoroglu, University of Southern California

Session 99: The Role of Beliefs in Asset pricing
Date: July 4, 2009
Time: 15:45 - 17:45
Non-nested Information Sets and the Term Structure of Interest Rates
By Kristoffer Nimark; CREI and Universitat Pompeu Fabra
Presented by: Kristoffer Nimark, Universitat Pompeu Fabra
Market Selection
By Leonid Kogan, MIT Stephen Ross, MIT Jiang Wang, MIT Mark Westerfield, USC
Presented by: Mark Westerfield, University of Southern California
Beliefs about Inflation and the Term Structure of Interest Rates
By Paul Ehling; BI-Oslo Michael Gallmeyer; Texas A&M University Christian Heyerdahl-Larsen; BI-Oslo Philipp Illeditsch; University of Pennsylvania
Presented by: Michael Gallmeyer, Texas A&M University
Heterogeneous beliefs under recursive preferences
By Jaroslav Borovicka; University of Chicago
Presented by: Jaroslav Borovicka, University of Chicago

Session 100: The Welfare Consequences of International Financial Integration
Session Chair: Mark Wright, UCLA
Date: July 4, 2009
Time: 15:45 - 17:45
Capital Mobility and Reform
By Pierre-Olivier Gourinchas, UC Berkeley, NBER and CEPR Olivier Jeanne, John Hopkins University, Peterson Institute
Presented by: Pierre-Olivier Gourinchas, UC Berkeley
Transition to FDI Openness
[slides]
By Ellen McGrattan
Presented by: Ellen McGrattan, Federal Reserve Bank of Minneapolis
HOW BIG ARE THE GAINS FROM INTERNATIONAL FINANCIAL INTEGRATION?
By Indrit Hoxa, University of Houston Sebnem Kalemli-Ozcan, University of Houston and NBER Dietrich Vollrath, University of Houston
Presented by: Sebnem Kalemli-Ozcan, University of Houston
50 Years of Capital Flows
By Lee E. Ohanian, UCLA Mark L. J. Wright, UCLA
Presented by: Mark Wright, UCLA

Session 101: Micro-foundations of Pricing
Date: July 4, 2009
Time: 15:45 - 17:45
Reconsidering the Microeconomic Foundations of Price-Setting Behavior
By Andrew Levin; Federal Reserve Board Tack Yun; Federal Reserve Board
Presented by: Tack Yun, Federal Reserve Board
Inflation Asymmetry and Menu Costs - New Micro Data Evidence
By Peter Karadi; New York University Adam Reiff; National Bank of Hungary
Presented by: Peter Karadi, New York University
Sales and Monetary Policy
By Bernardo Guimaraes, London School of Economics Kevin Sheedy, London School of Economics
Presented by: Kevin Sheedy, London School of Economics
Estimating the Cross-sectional Distribution of Price Stickiness from Aggregate Data
By Carlos Carvalho, Federal Reserve Bank of New York Niels Arne Dam, Danmarks Nationalbank
Presented by: Carlos Carvalho, Federal Reserve Bank of New York

Session 102: Understanding Consumption Behavior
Date: July 4, 2009
Time: 15:45 - 17:45
Theoretical Foundations of Buffer Stock Saving
By Christopher D. Carroll
Presented by: Christopher Carroll, The Johns Hopkins University
Deconstructing Life-cycle Consumption with Home Production
By Wenli Li; Federal Reserve Bank of Philadelphia Fang Yang; State University of New York at Albany
Presented by: Wenli Li, Federal Reserve Bank of Philadelphia
Price Search, Consumption Inequality, and Expenditure Inequality in a Life Cycle Model
By Yavuz Arslan; Central Bank of Turkey Temel Taskin; University of Rochester
Presented by: Temel Taskin, University of Rochester
House Prices and Risk Sharing
By Dmytro Hryshko, University of Alberta Maria Jose Luengo-Prado, Northeastern University Bent E. Sorensen, University of Houston
Presented by: Bent Sorensen, University of Houston

Session 103: Advances in Computation of Dynamic Economies
Date: July 4, 2009
Time: 15:45 - 17:45
Numerical Simulation of Nonoptimal Dynamic Equilibrium Models
By Jianjun Miao; Boston University Zhigang Feng; University of Miami Adrian Peralta-Alva; Federal Reserve Bank of Saint Louis Manuel Santos; University of Miami
Presented by: Adrian Peralta-Alva, Federal Reserve Bank of St. Louis
Approximate Aggregation in Heterogeneous-Agent Models
By Michael Reiter; IHS, Vienna
Presented by: Michael Reiter, IHS
Solving Dynamic Models with Heterogeneous Agents and Aggregate Uncertainty with Dynare or Dynare++
By Wouter J. DEN HAAN; University of Amsterdam and CEPR Tarık Sezgin OCAKTAN; Paris School of Economics
Presented by: Tarik Ocaktan, Paris School of Economics
Computing Densities in Stochastic Recursive Economies: Generalized Look-Ahead Techniques
By Richard Anton Braun; University of Tokyo Huiyu Li; University of Tokyo John Stachurski; Kyoto University
Presented by: R. Braun, University of Tokyo

Session 104: Household Credit & Bankruptcy
Date: July 4, 2009
Time: 15:45 - 17:45
Credit Lines
By Xavier Mateos-Planas; University of Southampton Jose-Victor Rios-Rull;University of Minnesota, FRB Mpls, CAERP, NBER
Presented by: Xavier Mateos-Planas, University of Southampton
Equilibrium Default and Temptation
By Makoto Nakajima; Federal Reserve Bank of Philadelphia
Presented by: Makoto Nakajima, Federal Reserve Bank of Philadelphia
Bankruptcy and Debt Portfolios
By Thomas Hintermaier, Institute for Advanced Studies, Vienna (IHS) Winfried Koeniger, Queen Mary, University of London
Presented by: Winfried Koeniger, Queen Mary, University of London
Liquidity Constraints of the Middle Class
By Jeffrey R. Campbell -- Federal Reserve of Chicago Zvi Hercowitz -- Tel Aviv University
Presented by: Zvi Hercowitz, Tel Aviv University

Session 105: Trade & Inequality
Date: July 4, 2009
Time: 15:45 - 17:45
Unemployment in an Interdependent World
By Gabriel Felbermayr; Hohenheim University Mario Larch; University of Munic and CESifo Wolfgang Lechthaler; University of Kiel and IFW
Presented by: Gabriel Felbermayr, University of Hohenheim
Firm Dynamics, Job Turnover, and Wage Distributions in an Open Economy
By A. Kerem Cosar; Pennsylvania State University Nezih Guner; Universidad Carlos III de Madrid James Tybout; Pennsylvania State University
Presented by: Nezih Guner, Universidad Carlos III de Madrid
Optimal Redistribution in an Open Economy
By Oleg Itskhoki; Harvard University
Presented by: Oleg Itskhoki, Harvard University
Financial Crises and Labor Market Turbulence
By Sangeeta Pratap; Hunter College and Graduate Center, CUNY Erwan Quintin; Federal Reserve Bank of Dallas
Presented by: Sangeeta Pratap, Hunter College and CUNY Graduate Center

Session 106: Dynamic Games and Reputation
Date: July 4, 2009
Time: 15:45 - 15:45
Reputations with Long Run Players
By Alp Atakan Mehmet Ekmekci
Presented by: Mehmet Ekmekci, Northwestern University
Collaborating
By Alessandro Bonatti; Yale University Johannes Horner; Yale University
Presented by: Alessandro Bonatti, Yale University
Reputation with Long Run Players and Imperfect Observation
By Alp Atakan, MEDS/KSM, Northwestern University Mehmet Ekmekci, MEDS/KSM, Northwestern University
Presented by: Alp Atakan, Northwestern University
Reputation with Equal Discounting in a Dynamic Cournot Oligopoly
By Eduardo Faingold
Presented by: Eduardo Faingold, Yale University

Session 107: Firm Heterogeneity & Macro
Date: July 4, 2009
Time: 15:45 - 17:45
What is the Relationship between Competition and Productivity
By Yan Bai; Arizona State University Berthold Herrendorf; Arizona State University
Presented by: Berthold Herrendorf, Arizona State University
Firm-Specific Productivity Risk over the Business Cycle: Facts and Aggregate Implications
By Christian Bayer; Bonn University Ruediger Bachmann; University of Michigan
Presented by: Christian Bayer, Bocconi University
The Cross-section of Firms over the Business Cycle: New Facts and a DSGE Exploration
By Ruediger Bachmann; University of Michigan Christian Bayer; Bonn University
Presented by: Ruediger Bachmann, University of Michigan
Capital misallocation and aggregate factor productivity
By Costas Azariadis; Washington University in St. Louis Leo Kaas; University of Konstanz
Presented by: Leo Kaas, University of Konstanz

Session 108: New Elements in Business Cycle Models
Date: July 4, 2009
Time: 15:45 - 17:45
Advertising and Business Cycle Fluctuations
By Benedetto Molinari; Universidad Pablo Olavide and Universitat Pompeu Fabra Francesco Turino; Universitat D'Alacant and Universitat Pompeu Fabra
Presented by: Benedetto Molinari, UPF
Computing Models with Recursive Preferences
By Dario Caldara; Institute for International Economic Studies Jesus Fernandez Villaverde; University of Pennsylvania Juan Rubio Ramirez; Duke University Wen Yao; University of Pennsylvania
Presented by: Dario Caldara, IIES
Contractionary technology improvements in multi-sector DSGE models
By Susanto Basu; Boston College and NBER John Fernald; Federal Reserve Bank of San Francisco
Presented by: John Fernald, Federal Reserve Bank of San Francisco
Monetary Policy Regimes and the Term Structure of Interest Rates
By Ruslan Bikbov, Barclays Capital Mikhail Chernov, London Business School and CEPR
Presented by: Mikhail Chernov, London Business School

Session 109: Search and Contracts in the Labor Market
Date: July 4, 2009
Time: 15:45 - 17:45
Aggregate Implications of Employer Search and Recruiting Selection
By University of Rochester
Presented by: Benjamin Villena-Roldan, University of Rochester
Unemployment Insurance Eligibility, Moral Hazard and Equilibrium Unemployment
By Min Zhang University of Toronto
Presented by: Min Zhang, University of Toronto
Repeated Moral Hazard with Worker Mobility via Directed On-the-Job Search
By Kunio Tsuyuhara, University of Toronto
Presented by: Kunio Tsuyuhara, University of Toronto
Unionization Patterns and Firm Reallocation
By Edgar Preugschat; Norwegian School of Management (BI)
Presented by: Edgar Preugschat, Norwegian School of Management (BI)

This program was last updated on 2009-06-15 9:1:12 EDT

Session 110: Optimal Fiscal Policy
Date: July 4, 2009
Time: 15:45 - 17:45
Tax Reform with Endogenous Borrowing Limits and Incomplete Asset Markets
By Arpad Abraham, University of Rochester Eva Carceles Poveda, Stony Brook University
Presented by: Eva Carceles-Poveda, SUNY at Stony Brook
Heterogeneous Beliefs and Optimal Taxation
[slides]
By Facundo Piguillem; University of Minnesota and Federal Reserve Bank of Minneapolis. Anderson Schneider; University of Minnesota and Federal Reserve Bank of Minneapolis.
Presented by: Juan Piguillem, University of Minnesota
On the Assumptions of the Optimal Taxation Problem: Is Distortionary Taxation a Burden or a Blessing?
By Pedro Teles;Banco de Portugal, Universidade Catolica Portuguesa and CEPR;
Presented by: Pedro Teles, Banco de Portugal, Univ Catolica Portugu
Optimal Fiscal Policy over the Business Cycle with Productive Government Infrastructures
By Martin Gervais; University of Southampton, University of Texas at Austin, IFS Alessandro Mennuni; University of Southampton
Presented by: Martin Gervais, University of Southampton