65 sessions, 225 papers

2011 Midwest Macroeconomics Meetings
Complete List of All Sessions

  

Session 1: Offshoring and Technology Transfer
Session Chair: Manisha Goel, The Ohio State University
Session type: invited
Date: May 20, 2011
Time: 13:00 - 14:45
Location: BT 202
Exports versus Multinational Production under Nominal Uncertainty
Presented by: Logan Lewis, Federal Reserve Board
Threatenting to Offshore in a Search Model of the Labor Market
Presented by: David Arseneau, Federal Reserve Board
Offshoring, Technology and Skill Premium
Presented by: Manisha Goel, The Ohio State University

  

Session 2: Analysis of Models with Capital Accumulation
Session Chair: Andres Zambrano, UCLA
Session type: invited
Date: May 20, 2011
Time: 13:00 - 14:45
Location: BT 305
On the Allocative and Welfare Effects of Quasi-Geometric Discounting
Presented by: Sarah Lynne Daway, University of California Riverside
On the Effects of Tax-deferred Saving Accounts
Presented by: Anson Ho, University of Iowa
Divergence
Presented by: Michal Jerzmanowski, Clemson University
Endogenous Employment and Incomplete Markets: Effort and Human Capital as strategies to smooth consumption
Presented by: Andres Zambrano, UCLA

  

Session 3: Economic Growth I
Session Chair: Yong Wang, Dept. of Economics
Session type: invited
Date: May 20, 2011
Time: 13:00 - 14:45
Location: BT 201
The Effects of Wage Volatility on Growth
Presented by: Michael Jetter, University of Memphis
Asset Bubbles, Endogenous Growth, and Financial Frictions
Presented by: Tomohiro Hirano, Financial Services Agency, The Japanese Government
Financial Flows, Composition of Capital and Growth
Presented by: Asli Leblebicioglu, North Carolina State University
Endowment Structure, Industrial Dynamics, and Economic Growth
Presented by: Yong Wang, Dept. of Economics

  

Session 4: Models of Monetary Policy
Session Chair: Keith Kuester, Federal Reserve Bank of Philadelphia
Session type: invited
Date: May 20, 2011
Time: 13:00 - 14:45
Location: BT 309
Output Gaps and Monetary Policy at Low Interest Rates
Presented by: Roberto Billi, Federal Reserve Bank of Kansas City
Understanding the Fiscal Limit in the Presence of Non-Ricardian Consumers
Presented by: Alexander Richter, Indiana University
Timing Fiscal Retrenchment in the Wake of Deep Recessions
Presented by: Keith Kuester, Federal Reserve Bank of Philadelphia

  

Session 5: Family
Session Chair: Juan Cordoba, Iowa State University
Session type: invited
Date: May 20, 2011
Time: 13:00 - 14:45
Location: BT 205
Black and White Fertility, Differential Baby Booms: The Value of Civil Rights (Equal Opportunity for Education)
Presented by: Robert Tamura, Clemson University
Why Not Settle Down Already? A Quantitative Question
Presented by: Cezar Santos, University of Pennsylvania
HEALTH INSURANCE AS A PRODUCTIVE FACTOR
Presented by: Roberto Pinheiro, University of Colorado
A Contribution to the Economic Theory of Fertility
Presented by: Juan Cordoba, Iowa State University

  

Session 6: International Finance
Session Chair: Fernando Leibovici, New York University
Session type: invited
Date: May 20, 2011
Time: 13:00 - 14:45
Location: BT 302
Portfolio diversification and the cross-sectional distribution of foreign investment
Presented by: Alexandra Tabova, Duke University
Financial Globalization, Financial Crisis, and the External Capital Structure of Emerging Markets
Presented by: Katherine Smith, United States Naval Academy
Financial Frictions and Export Dynamics
Presented by: Fernando Leibovici, New York University

  

Session 7: Uncertainty, rational inattention, producitivity spillover
Session Chair: Fang Zhang, The Ohio State University
Session type: invited
Date: May 20, 2011
Time: 13:00 - 14:45
Location: BT 206
Expectation Errors, Uncertainty and Economic Activity
Presented by: Timur Hulagu, Central Bank of Turkey
Creative Destruction under Rational Inattention
Presented by: Anton Cheremukhin, Federal Reserve Bank of Dallas
Rational Inattention in Uncertain Business Cycles
Presented by: Fang Zhang, The Ohio State University

  

Session 8: Liquidity
Session Chair: Viktors Stebunovs, Board of Governors of the Federal Reserve System
Session type: invited
Date: May 20, 2011
Time: 13:00 - 14:45
Location: BT 306
Liquidity Effect, Labor Market and Monetary Phenomena
Presented by: Tsz-Nga Wong, Washington University in St Louis
Arbitrage, liquidity and exit: The repo and federal funds markets before, during, and after the financial crisis
Presented by: Viktors Stebunovs, Board of Governors of the Federal Reserve System

  

Session 9: Nominal Exchange Rates
Session Chair: Byoung Hoon Seok, University of Rochester
Session type: invited
Date: May 20, 2011
Time: 15:00 - 16:45
Location: BT 202
A Theory of Speculative Bubbles and Overshooting during Currency Crises
Presented by: Antonio Doblas-Madrid, Michigan State University
Exchange Rate Volatility and Welfare Implications in an Open Economy with International Currencies
Presented by: Masanori Kashiwagi, European University Institute
Undervalued Currency in Spite of Growth: The Role of Current Account Imbalances
Presented by: Byoung Hoon Seok, University of Rochester

  

Session 10: Credit I
Session Chair: Roland Meeks, Bank of England
Session type: invited
Date: May 20, 2011
Time: 15:00 - 16:45
Location: BT 306
Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis
Presented by: Emine Boz, International Monetary Fund
Credit Constraints, Learning and Aggregate Consumption Volatility
Presented by: Daniel Tortorice, Brandeis University
On the Societal Benefit of Credit Card as a Means of Payment
Presented by: Mei Dong, Bank of Canada
Do credit market shocks drive output fluctuations? Evidence from corporate spreads and defaults
Presented by: Roland Meeks, Bank of England

  

Session 11: Economic Growth II
Session Chair: Christopher Gunn, McMaster University
Session type: invited
Date: May 20, 2011
Time: 15:00 - 16:45
Location: BT 201
Endogenous Risk and Growth
Presented by: Jesse Perla, NYU
Competition as a Discovery Procedure: Schumpeter Meets Hayek in a Model of Innovation
Presented by: Pedro Bento, University of Toronto
Health, Education and Economic Development
Presented by: Yin-Chi Wang, Washington University in St. Louis
From growth to cycles through beliefs
Presented by: Christopher Gunn, McMaster University

  

Session 12: Models of Consumption Behavior
Session Chair: Noam Gruber, University of Michigan
Session type: invited
Date: May 20, 2011
Time: 15:00 - 16:45
Location: BT 305
Consumption Smoothing and Portfolio Rebalancing: the Effects of Adjustment Costs
Presented by: Guozhong Zhu, Peking University
Consumption Externalities in a Ramsey Model with Endogenous Labor Supply
Presented by: Mohanad ISMAEL, University of Evry Val d'Essonne
Life-Cycle Consumption: Can Single Agent Models Get it Right?
Presented by: Alexander Bick, Goethe University
Keeping Up With the Zhangs: Can Relative Consumption, Combined with Utility from Wealth, Explain High Saving Under Rapid Growth?
Presented by: Noam Gruber, University of Michigan

  

Session 13: Health
Session Chair: Kai (Jackie) Zhao, University of Western Ontario
Session type: invited
Date: May 20, 2011
Time: 15:00 - 16:45
Location: BT 205
Measuring Quality Increases in the Medical Sector
Presented by: Daniel Lawver, Arizona State University
Why Do Americans Spend So Much More in Medical Care Than Europeans?
Presented by: Hui He, University of Hawaii
On the Optimal Distribution of Health Care Spending
Presented by: Roozbeh Hosseini, Arizona State University
Social Security and the Rise in Health Spending: A Macroeconomic Analysis
Presented by: Kai (Jackie) Zhao, University of Western Ontario

  

Session 14: New Shocks and Business Cycles
Session Chair: Michael Bauer, Federal Reserve Bank of San Francisco
Session type: invited
Date: May 20, 2011
Time: 15:00 - 16:45
Location: BT 206
Costly Labor Reallocation, Non-Separable Preferences, and Expectation Driven Business Cycles
Presented by: Munechika Katayama, Louisiana State University
News Shocks, Price Levels, and Monetary Policy
Presented by: Ryo Jinnai, Texas A&M
News, intermediation efficiency and expectations driven boom-bust cycles
Presented by: Alok Johri, McMaster University
The Impact of Policy Actions and Macroeconomic News on the Term Structure of Interest Rates
Presented by: Michael Bauer, Federal Reserve Bank of San Francisco

  

Session 15: TFP and business cyles
Session Chair: Luigi Bocola, University of Pennsylvania
Session type: invited
Date: May 20, 2011
Time: 15:00 - 16:45
Location: BT 302
Shocking Stuff: Technology, Hours, and Factor Substitution
Presented by: peter mcadam, European Central Bank
Identifying Technology Shocks in the Frequency Domain
Presented by: Riccardo DiCecio, Federal Reserve Bank of St. Louis
Uncertainty, Capital Reallocation, and Aggregate TFP Dynamics
Presented by: Kaiji Chen, Emory University
Identifying Technology Shocks in Models with Heterogeneous Inputs
Presented by: Luigi Bocola, University of Pennsylvania

  

Session 16: Monetary Policy in Historical Perspective
Session Chair: Gabriela Best, Missouri State University
Session type: invited
Date: May 20, 2011
Time: 15:00 - 16:45
Location: BT 309
Did Doubling Reserve Requirements Cause the Recession of 1937-1938? A Microeconomic Approach
Presented by: David Wheelock, Federal Reserve Bank of St. Louis
Overlooking the Great Moderation: Consequences for the Monetary Policy
Presented by: Marija Vukotic, Banque de France
Policy Preferences and Policymakers' Beliefs
Presented by: Gabriela Best, Missouri State University

  

Session 17: PLENARY I: BOYAN JOVANOVIC,
Session type: invited
Date: May 20, 2011
Time: 17:00 - 18:00
Location: SC 4309

  

Session 18: Economic Growth III
Session Chair: Mario Crucini, Vanderbilt University
Session type: invited
Date: May 21, 2011
Time: 8:30 - 10:15
Location: BT 201
Is Newer Better? Penn World Table Revisions and Their Impact on Growth Estimates
Presented by: Chris Papageorgiou, International Monetary Fund
Measuring Economic Growth from Outer Space
Presented by: Adam Storeygard, Brown University
Demographic Patterns and Household Saving in China
Presented by: Steven Lugauer, University of Notre Dame
Growth on a Finite Planet: Resources, Technology and Population in the Long Run
Presented by: Pietro Peretto, Duke University

  

Session 19: Asset Prices and Business Cycles
Session Chair: Viktor Tsyrennikov, Cornell
Session type: invited
Date: May 21, 2011
Time: 8:30 - 10:15
Location: BT 302
Complex stock price dynamics and recurrent bubbles under the spirit of capitalism
Presented by: Marco Airaudo, Drexel University, LeBow Business School
Investing for Excess: Returns-to-Scale and the Equity Premium Puzzle
Presented by: Geoffrey Dunbar, Simon Fraser University
The Increased Importance of Asset Price Misalignments for Business Cycle Dynamics
Presented by: Mikael Bask, Uppsala University
Heterogeneous Beliefs, Wealth Distribution and Asset Prices
Presented by: Viktor Tsyrennikov, Cornell

  

Session 20: Monetary Transmission Mechanisms
Session Chair: Jonathan Willis, Federal Reserve Bank of Kansas City
Session type: invited
Date: May 21, 2011
Time: 8:30 - 10:15
Location: BT 309
Optimal Monetary Policy and Default
[slides]
Presented by: Sandra Lizarazo, Instituto Autonomo de Mexico (ITAM)
Financial Intermediation, Risk Taking and Monetary Policy
Presented by: Alexander Ueberfeldt, Bank of Canada
Optimal Monetary Policy Under Financial Sector Risk
Presented by: Kevin X.D. Huang, Vanderbilt University
Non-convexities, Interest Rates and the Monetary Transmission Process
Presented by: Jonathan Willis, Federal Reserve Bank of Kansas City

  

Session 21: Optimal and Non-optimal Taxation
Session Chair: Marcelo Arbex, University of Windsor
Session type: invited
Date: May 21, 2011
Time: 8:30 - 10:15
Location: BT 305
A Numerical Solution to the Second-Best Optimal Taxation
Presented by: Ozan Bakis, Galatasaray University Economic Research Center (GIAM),
Optimal Taxation in an Adverse Selection Insurance Economy
Presented by: Pamela Labadie, George Washington University
Consumption Taxation in an Endogenous Growth Model with Public Capital
Presented by: Manoj Atolia, Florida State University
Optimal Taxation and Social Networks
Presented by: Marcelo Arbex, University of Windsor

  

Session 22: Health Reform
Session Chair: Michael Kuklik, University of Rochester
Session type: invited
Date: May 21, 2011
Time: 8:30 - 10:15
Location: BT 205
Market Inefficiency, Insurance Mandate and Welfare: U.S. Health Care Reform 2010
Presented by: Juergen Jung, Towson University
Distributional Effects of Public Health Insurance Reform
Presented by: Hubert Janicki, Arizona State University
Quantitative Analysis of Health Insurance Reform: Separating Community Rating from Income Redistribution
Presented by: Svetlana Pashchenko, University of Virginia
Health Insurance Reform and Bankruptcy
Presented by: Michael Kuklik, University of Rochester

  

Session 23: Banking
Session Chair: Afrasiab Mirza, Queen's University
Session type: invited
Date: May 21, 2011
Time: 8:30 - 10:15
Location: BT 306
Transparency and Bank Runs
Presented by: Cecilia Parlatore Siritto, NYU
Bank Balance Sheet Pressures and the Structure of Manufacturing Industries
Presented by: Seung Lee, Board of Governors of the Federal Reserve System
Dynamic Prudential Regulation
Presented by: Afrasiab Mirza, Queen's University

  

Session 24: Productivity and Prices
Session Chair: Michelle Alexopoulos, University of Toronto
Session type: invited
Date: May 21, 2011
Time: 8:30 - 10:15
Location: BT 206
Further model-based estimates of U.S. total manufacturing production capital and technology, 1949-2005
Presented by: Baoline Chen, Bureau of Economic Analysis
Productivity Growth in Goods and Services across US States: What can We Learn from Factor Prices?
Presented by: Areendam Chanda, Louisiana State University
Capital-Skill Complementarity and Jobless Recovery
Presented by: Yong-Gook Jung, Wayne State University
The Media is the Measure: Technical change and employment, 1909-49
Presented by: Michelle Alexopoulos, University of Toronto

  

Session 25: International risk sharing
Session Chair: Ananth Ramanarayanan, Federal Reserve Bank of Dallas
Session type: invited
Date: May 21, 2011
Time: 8:30 - 10:15
Location: BT 202
Optimal risk sharing and borrowing constraints in a continuous-time model with limited commitment
Presented by: Yuzhe Zhang, University of Iowa
Industrial Specialization, Financial Integration and International Consumption Risk Sharing
Presented by: Ergys Islamaj, Vassar College
Robust Control, Informational Frictions, and International Consumption Correlations
Presented by: Jun Nie, Federal Reserve Bank of Kansas City
International Risk Sharing with Endogenously Segmented Asset Markets
Presented by: Ananth Ramanarayanan, Federal Reserve Bank of Dallas

  

Session 26: Real exchange rates
Session Chair: Eyal Dvir, Boston College
Session type: invited
Date: May 21, 2011
Time: 10:30 - 12:15
Location: BT 202
A Model of International Cities: Implications for Real Exchange Rates
Presented by: Mario Crucini, Vanderbilt University
The geography of consumer prices
Presented by: Adam Reiff, National Bank of Hungary
How Do Exporters React To Different Exchange Rate Shocks?
Presented by: Raphael Schoenle, Brandeis University
Globalization, Optimal Auctions and Exchange Rate Pass-Through
Presented by: Eyal Dvir, Boston College

  

Session 27: Credit Frictions and Business Cycles
Session Chair: Andrea Pescatori, International Monetary Fund
Session type: invited
Date: May 21, 2011
Time: 10:30 - 12:15
Location: BT 302
Credit Risk and Business Cycles
Presented by: Jianjun Miao, Boston University
Asset Prices and Business Cycles with Financial Frictions
Presented by: Pedram Nezafat, University of Minnesota
On the Cyclicality of Credit
Presented by: Ufuk Demirel, Department of Economics
Debt Overhang in a Business Cycle Mode
Presented by: Andrea Pescatori, International Monetary Fund

  

Session 28: Open Economy Models and Economic Growth
Session Chair: Lei (Jane) Ji, European University Institute
Session type: invited
Date: May 21, 2011
Time: 10:30 - 12:15
Location: BT 201
The Dance of the Dynamics: The Always Interesting and Sometimes Surprising Interplay of Trade and Growth
Presented by: John Seater, North Carolina State University
Taxes, Tariff, Trade and Growth with Endogenous Market Structure
Presented by: Lei (Jane) Ji, European University Institute

  

Session 29: Stablization, Taxation and Fiscal Policy
Session Chair: Alessandro Dovis, University of Minnesota
Session type: invited
Date: May 21, 2011
Time: 10:30 - 12:15
Location: BT 305
Stabilization versus Sustainability: Macroeconomic Policy Tradeoffs
Presented by: Huixin Bi, Bank of Canada
Savings, Inequality and Automatic Stabilization
Presented by: Michal Horvath, Department of Economics and Nuffield College
Fiscal Uncertainty and Economic Activity
Presented by: Pablo Guerron-Quintana, Federal Reserve Bank of Philadelphia
Capital Mobility and Optimal Fiscal Policy without Commitment
Presented by: Alessandro Dovis, University of Minnesota

  

Session 30: Higher Education
Session Chair: Elisa Keller, University of Iowa
Session type: invited
Date: May 21, 2011
Time: 10:30 - 12:15
Location: BT 205
The Return to College: Selection Bias and Dropout Risk
Presented by: Lutz Hendricks, UNC Chapel Hill
Why Do College Graduates Save More? : An OLG Model with Imperfect Information
Presented by: Ali Gunes, University of Rochester
Institutional Structure of Higher Education, Credit Markets and Persistent Inequality
Presented by: Bledi Taska, New York University
Patterns in American educational attainment
Presented by: Elisa Keller, University of Iowa

  

Session 31: Undiversified household risks
Session Chair: Lei (Nick) Guo, Jon M. Huntsman School of Business, Utah State University
Session type: invited
Date: May 21, 2011
Time: 10:30 - 12:15
Location: BT 206
Household Consumption, Portfolio Choice and Expected Stock Market Returns
Presented by: Steffan Ball, Federal Reserve Board
Do Households Use Homeownership To Insure Themselves? Evidence Across US Cities
Presented by: Jonathan Halket, University College London
What drives dropouts in college? An exploration of uninsurable risk
Presented by: Ali Ozdagli, Federal Reserve Bank of Boston
Risky Borrowing Costs and the Portfolio Choice Over the Life Cycle
Presented by: Lei (Nick) Guo, Jon M. Huntsman School of Business, Utah State University

  

Session 32: Price Setting
Session Chair: Nuray Akin, University of Miami
Session type: invited
Date: May 21, 2011
Time: 10:30 - 12:15
Location: BT 309
Choosing between time and state dependence: Micro evidence on firms' price reviewing strategies
Presented by: Daniel Dias, UIUC - Economics & Cemapre
Inflation and Welfare with Search and Price Dispersion
Presented by: Liang Wang, University of Hawaii at Manoa
Search, Moral Hazard, and Equilibrium Price Dispersion
Presented by: Nuray Akin, University of Miami

  

Session 33: Emerging market business cycles
Session Chair: Enrique Martinez-Garcia, Federal Reserve Bank of Dallas
Session type: invited
Date: May 21, 2011
Time: 13:30 - 15:15
Location: BT 202
Time to Produce and Emerging Market Crises
[slides]
Presented by: Felipe Schwartzman, FRB - Richmond
The Impact of US Shocks on Emerging Markets: The Case of Mexico
Presented by: Kolver Hernandez, University of Delaware
Business Cycle Accounting in a Small Open Economy
Presented by: Mohammad Rahmati, UT
International Transmission of Investment-Specific Technology Shocks with Incomplete Asset Markets
Presented by: Enrique Martinez-Garcia, Federal Reserve Bank of Dallas

  

Session 34: R&D, Patents and Growth
Session Chair: Douglas Hanley, University of Pennsylvania
Session type: invited
Date: May 21, 2011
Time: 13:30 - 15:15
Location: BT 201
Products, patents and productivity persistence: A DSGE model of endogenous growth
Presented by: Thomas Holden, University of Oxford
Cooperative R&D, Distance to Frontier, and Growth Convergence
Presented by: Yibai Yang, University of Sydney
Back to Basics: Private and Public Investment in Basic R&D and Macroeconomic Growth
Presented by: Douglas Hanley, University of Pennsylvania

  

Session 35: Taxation and Fiscal Policy
Session Chair: Inci Gumus, Sabanci University
Session type: invited
Date: May 21, 2011
Time: 13:30 - 15:15
Location: BT 305
On Fiscal Multipliers: Estiamtes from a Medium Scale DSGE Model
Presented by: Sarah Zubairy, Bank of Canada
Redistributive Taxation, Incentives, and the Intertemporal Evolution of Human Capital
Presented by: Matias Tapia, P.U. Catolica de Chile
Macroeconomic Effects of Alternative Tax Policies During Financial Crises
Presented by: Inci Gumus, Sabanci University

  

Session 36: Social Security and Welfare
Session Chair: Stanislav Rabinovich, University of Pennsylvania
Session type: invited
Date: May 21, 2011
Time: 13:30 - 15:15
Location: BT 205
Unemployment Insurance Fraud
Presented by: David Fuller, Concordia University
Social Security, Benefit Claiming and Labor Force Participation: A Quantitative General Equilibrium Approach
Presented by: Sagiri Kitao, Federal Reserve Bank of New York
Pro-cyclical Unemployment Benefits? Optimal Policy in an Equilibrium Business Cycle Model
Presented by: Stanislav Rabinovich, University of Pennsylvania

  

Session 37: Financial Intermediation
Session Chair: Pavel Sevcik, Université du Québec à Montréal
Session type: invited
Date: May 21, 2011
Time: 13:30 - 15:15
Location: BT 306
Financial Development and Creative Destruction
Presented by: Roberto Samaniego, George Washington University
The Inefficiency of Financial Intermediation in General Equilibrium
Presented by: Maya Eden, MIT
Financial Frictions, the Financial Immoderation, and the Great Moderation
Presented by: Cristina Fuentes-Albero, Rutgers University
Financial Frictions, Internal Capital Markets, and the Organization of Production
Presented by: Pavel Sevcik, Université du Québec à Montréal

  

Session 38: Housing
Session Chair: Kurt Mitman, University of Pennsylvania
Session type: invited
Date: May 21, 2011
Time: 13:30 - 15:15
Location: BT 206
The Post-War Boom in Homeownership: An Exercise in Quantitative History
Presented by: Matthew Chambers, Towson University
Home Production and Social Security Reform
Presented by: Fang Yang, SUNY-Albany
Macroeconomic Effects of Bankruptcy and Foreclosure Policies
Presented by: Kurt Mitman, University of Pennsylvania

  

Session 39: Time series analysis
Session Chair: Mototsugu Shintani, Vanderbilt University
Session type: invited
Date: May 21, 2011
Time: 13:30 - 15:15
Location: BT 302
Unconventional Monetary Policy and the Great Recession
Presented by: Christiane Baumeister, Bank of Canada
REAL-TIME STATE-SPACE METHOD FOR COMPUTING FILTERED ESTIMATES OF FUTURE REVISIONS OF U.S. MONTHLY CHAINED CPI
Presented by: Peter Zadrozny, Bureau of Labor Statistics
Euro Area Inflation Rates: Do they Converge
Presented by: Claude Lopez, Banque de France
Measuring International Business Cycles by Saving for a Rainy Day
Presented by: Mototsugu Shintani, Vanderbilt University

  

Session 40: Implications of Price Setting Behavior
Session Chair: Luminita Stevens, Columbia University
Session type: invited
Date: May 21, 2011
Time: 13:30 - 15:15
Location: BT 309
Aggregate Evidence on Nominal Price Rigidities and the Inflation-Output Trade-Off: The Relationship between the Income Share of Labor and the Rate of Inflation
Presented by: Christian Jensen, Moore School of Business, University of South Carolina
Pricing Regimes in Disaggregated Data
Presented by: Luminita Stevens, Columbia University

  

Session 41: Oil, Financial Markets and the Macroeconomy
Session Chair: William Gavin, Federal Reserve Bank of St. louis
Session type: invited
Date: May 21, 2011
Time: 15:30 - 17:15
Location: BT 302
The Role of Inventories and Speculative Trading in the Global Market for Crude Oil
Presented by: Daniel Murphy, University of Michigan
Country Portfolios to Hedge Oil Shocks
Presented by: Alessandro Rebucci, Inter-American Development Bank
Oil Price Shocks and Industrial Production: Is the Relationship Linear?
Presented by: Tatsuma Wada, Wayne State University
Monetary Policy, the Tax Code, and Energy Price Shocks
Presented by: William Gavin, Federal Reserve Bank of St. louis

  

Session 42: Trade and Real Exchange Rates
Session Chair: Jonathan Davis, Federal Reserve Bank of Dallas
Session type: invited
Date: May 21, 2011
Time: 15:30 - 17:15
Location: BT 202
The Benefit of Exchange Rate Flexibility, Trade Openness and the Extensive Margin
Presented by: Kanda Naknoi, Purdue University
"The Effects of News About Future Productivity on International Relative Prices: An Empirical Investigation"
Presented by: Jian Wang, Federal Reserve Bank of Dallas
Accounting for Real Exchange Rates using Micro-Data
Presented by: Anthony Landry, Federal Reserve Bank of Dallas
Distribution capital and the short and long run import demand elasticity
Presented by: Jonathan Davis, Federal Reserve Bank of Dallas

  

Session 43: Theory and Learning
Session Chair: Antonio Mele, University of Oxford and Nuffield College
Session type: contributed
Date: May 21, 2011
Time: 15:30 - 17:15
Location: BT 201
Learning and Discovery
Presented by: Boyan Jovanovic, New York University
Learning, Large Deviations and Rare Events
Presented by: Chetan Dave, New York University
Learning and the Yield Curve
Presented by: Arunima Sinha, Santa Clara University
Strategic Default
Presented by: Antonio Mele, University of Oxford and Nuffield College

  

Session 44: Credit Frictions and Productivity
Session Chair: David Benjamin, SUNY Buffalo
Session type: invited
Date: May 21, 2011
Time: 15:30 - 17:15
Location: BT 306
Capital Requirement, Securitization and Risky Investment
Presented by: Zhe Li, Shanghai University of Finance and Economics
The Interplay Between Different Types of Unsecured Credit and Amplification of Consumer Default
Presented by: Felicia Ionescu, Colgate University
Credit Derivatives and Sovereign Debt
Presented by: Batchimeg Sambalaibat, Carnegie Mellon University
Bargaining in the Shadow of Chapter 7: The Consequences of Seperating Default and Bankruptcy
Presented by: David Benjamin, SUNY Buffalo

  

Session 45: Four unrelated but interesting papers
Session Chair: Dudley Cooke, University of Exeter
Session type: invited
Date: May 21, 2011
Time: 15:30 - 17:15
Location: BT 305
Real Exchange Rate Dynamics: The Role of Elastic Labor Supply
Presented by: AKM Morshed, Southern Illinois University Carbondale
Public Consumption Over the Business Cycle
Presented by: Jinhui Bai, Georgetown University
Monetary Policy and the Extensive Margin of Exports
Presented by: Dudley Cooke, University of Exeter

  

Session 46: Labor Participation and Hours Worked
Session Chair: Michael Bar, San Francisco State University
Session type: invited
Date: May 21, 2011
Time: 15:30 - 17:15
Location: BT 205
The Joint Labor Supply Decision of Married Couples and the Social Security Pension System
Presented by: Shinichi Nishiyama, Georgia State University
Hours over the Business Cycle: Evidence from OECD Countries 1960-2009
Presented by: Andrea Raffo, Board of Governors of the Federal Reserv
Trends in Male and Female Market and Home Hours: A Cross-Country Study
Presented by: Cara McDaniel, Kenyon College
Longevity, Schooling and Lifetime Labor Supply
Presented by: Michael Bar, San Francisco State University

  

Session 47: DSGE model estimation
Session Chair: Yunjong Eo, University of Sydney
Session type: invited
Date: May 21, 2011
Time: 15:30 - 17:15
Location: BT 206
Sources of Business Fluctuations: Financial or Technology Shocks?
Presented by: Takushi Kurozumi, Bank of Japan
Skewness in DSGE models
Presented by: Greg Koloch, National Bank of Poland
Forecasting under Model Uncertainty
Presented by: Maik Wolters, Goethe University Frankfurt
Labor Productivity and Medium-Run Cycles in the Postwar US Economy
Presented by: Yunjong Eo, University of Sydney

  

Session 48: Inflation
Session Chair: Joseph Vavra, Yale University
Session type: invited
Date: May 21, 2011
Time: 15:30 - 17:15
Location: BT 309
Trend Inflation, Wage Indexation, and Determinacy in the U.S.
Presented by: Nicola Branzoli, University of Wisconisn - Madison
Monetary Policy, Trend Inflation and Inflation Persistence
Presented by: Fang Yao, University of Erlangen-Nuremberg
Inflation Dynamics and Time-Varying Uncertainty: New Evidence and an Ss Interpretation
Presented by: Joseph Vavra, Yale University

  

Session 49: PLENARY II: MICHELE BOLDRIN,
Session type: invited
Date: May 21, 2011
Time: 17:30 - 18:30
Location: SC 4309

  

Session 50: Trade Liberalization
Session Chair: Hakan Yilmazkuday, Temple University
Session type: invited
Date: May 22, 2011
Time: 8:30 - 10:15
Location: BT 202
Innovation and the Elasticity of Trade Volumes to Tariff Reductions
Presented by: Loris Rubini, Universidad Carlos III de Madrid
Trade Liberalization with Endogenous Borrowing Constraints
Presented by: Wyatt Brooks, University of Minnesota
Trade, Reform, and Structural Transformation in South Korea
Presented by: Rubina Verma, Instituto Tecnologico Autonomo de Mexico (ITAM)
How Much Does Sectoral Heterogeneity Matter in Evaluating the Gains from Trade?
Presented by: Hakan Yilmazkuday, Temple University

  

Session 51: Asset and Credit Markets
Session Chair: Volodymyr Lugovskyy, Georgia Institute of Technology
Session type: invited
Date: May 22, 2011
Time: 8:30 - 10:15
Location: BT 306
Asset Pricing with Learning about Disaster Risk
Presented by: Yang Lu, Hong Kong University of Science and Tech
Credit Crunches, Asset Prices, and Technological Change
Presented by: Raoul Minetti, Michigan State University
An Experimental Study of Bubble Formation in Asset Markets Using the Tâtonnement Trading Institution
Presented by: Daniela Puzzello, University of Illinois at Urbana-Champai
Export Growth and Credit Constraints
Presented by: Volodymyr Lugovskyy, Georgia Institute of Technology

  

Session 52: Firm dynamics
Session Chair: Zhu Wang, Federal Reserve Bank of Kansas City
Session type: invited
Date: May 22, 2011
Time: 8:30 - 10:15
Location: BT 206
Post-Entry Struggle for Life and Pre-Exit Shadow of Death from a Financial Perspective
Presented by: Robert Petrunia, Lakehead Universtiy
Cross-Sectoral Variation in Firm-Level Idiosyncratic Risk
Presented by: Yoonsoo Lee, Sogang University
Span of Control and Production Efficiency: Evidence from Korean and Taiwanese IT Firms
Presented by: Wen-Chieh Lee, Washington Universty in St.Louis
Spin-offs: Theory and Evidence from the Early U.S. Automobile Industry
Presented by: Zhu Wang, Federal Reserve Bank of Kansas City

  

Session 53: Unemployment insurance
Session Chair: Lei Fang, Federal Resereve Bank of Atlanta
Session type: invited
Date: May 22, 2011
Time: 8:30 - 10:15
Location: BT 205
Quantitative Analysis of Unemployment Benefit Extensions
Presented by: Makoto Nakajima, Federal Reserve Bank of Philadelphia
Time-consistent unemployment insurance
Presented by: Sumudu Kankanamge, Toulouse School of Economics
Quantify the Effect of UI Benefits on the Unemployment Rate Using a Matching Model with Financial Shocks
Presented by: Lei Fang, Federal Resereve Bank of Atlanta

  

Session 54: Finance
Session Chair: Aubhik Khan, Ohio State University
Session type: invited
Date: May 22, 2011
Time: 8:30 - 10:15
Location: BT 302
Executive Employment Histories and the Pattern of Acquisitions
Presented by: Caleb Stroup, Vanderbilt
Financial imbalances, learning, and credibility of the inflation target
Presented by: Gino Cateau, Bank of Canada
Financial Liberalization, Capital-skill Complementarity, and Wage Inequality
Presented by: Mauricio Larrain, University of California, Berkeley
Default Risk and Aggregate Fluctuations in an Economy with Production Heterogeneity
Presented by: Aubhik Khan, Ohio State University

  

Session 55: Productivity
Session Chair: Marla Ripoll, University of Pittsburgh
Session type: invited
Date: May 22, 2011
Time: 8:30 - 10:15
Location: BT 201
Why is Agricultural Labor Productivity so Low in the United States?
Presented by: Todd Schoellman, Arizona State University
Windfalls, Structural Transformation and Specialization
Presented by: Radoslaw Stefanski, University of Oxford
Reallocation and Productivity and the Ecuadorian Economics Crisis
Presented by: Kim Huynh, Bank of Canada
Productivity, trade and the R&D content of intermediate inputs
Presented by: Marla Ripoll, University of Pittsburgh

  

Session 56: Money and Search
Session Chair: Sergey Popov, University of Illinois
Session type: invited
Date: May 22, 2011
Time: 8:30 - 10:15
Location: BT 309
Endogenous Monetary Policy: A Leviathan Central Bank in a Lagos-Wright Economy
Presented by: Parag Waknis, University of Connecticut
Equilibrium Counterfeiting and Monetary Policy
Presented by: Hongfei Sun, Queen's University
Frictions, persistence, and central bank policy in an experimental DSGE economy
Presented by: Damjan Pfajfar, CentER, EBC, University of Tilburg
Learning to Love Money
Presented by: Sergey Popov, University of Illinois

  

Session 57: Transparency
Session Chair: José Dorich, Bank of Canada
Session type: invited
Date: May 22, 2011
Time: 8:30 - 10:15
Location: BT 305
Central Bank Transparency: Does It Matter?
Presented by: Nurlan Turdaliev, University of Windsor
Transparency and Costly Information Acquisition
Presented by: Ryan Chahrour, Columbia University
Price level targeting, the zero lower bound on the nominal interest rate and imperfect credibility
Presented by: José Dorich, Bank of Canada

  

Session 58: International Trade
Session Chair: Erick Sager, University of Minnesota
Session type: invited
Date: May 22, 2011
Time: 10:30 - 12:15
Location: BT 202
The Colonization of Hong Kong: Establishing the Pearl of Britain-China Trade
Presented by: Ping Wang, Washington University
Trade and Inequality: A Directed Search Model with Firm \\ and Worker Heterogeneity
Presented by: Moritz Ritter, Temple University
Market Entry and Trade Weighted Import Costs
[slides]
Presented by: Benjamin Bridgman, Bureau of Economic Analysis
Quality Ladders with Financial Frictions
Presented by: Erick Sager, University of Minnesota

  

Session 59: Business Cycles and Search
Session Chair: Julia Thomas, The Ohio State University
Session type: invited
Date: May 22, 2011
Time: 10:30 - 12:15
Location: BT 302
Search Frictions and the Labor Wedge
Presented by: Murat Tasci, Federal Reserve Bank of Cleveland
A Quantitative Rat-Race Theory of Labor Market Dynamics
Presented by: Andrew Glover, University of Minnesota-TC
The Cyclicality of Search Intensity in a Competitive Search Model
Presented by: Damba Lkhagvasuren, Concordia University
Selection, Reallocation and the Shape of Aggregate Fluctuations: A General Equilibrium Analysis
Presented by: Julia Thomas, The Ohio State University

  

Session 60: Search
Session Chair: Allen Head, Queen's University
Session type: invited
Date: May 22, 2011
Time: 10:30 - 12:15
Location: BT 201
Work Incentives and Labour Mobility: Quantitative Assessment of Macroeconomic Implications
Presented by: Kunio Tsuyuhara, University of Calgary
Labor-market Volatility in a Matching Model with Worker Heterogeneity and Endogenous Separations
Presented by: Andri Chassamboulli, University of Cyprus
Search and the Dynamics of House Prices and Construction
Presented by: Allen Head, Queen's University

  

Session 61: Wages and Productivity
Session Chair: Daniele Coen-Pirani, University of Pittsburgh
Session type: invited
Date: May 22, 2011
Time: 10:30 - 12:15
Location: BT 206
Wage Volatility and Changing Patterns of Labor Supply
Presented by: Hye Mi You, State University of New York at Buffalo
Learning From Losers: Using Displaced Workers to Learn About the Contribution of Ability, Luck & Skills to Wages
Presented by: Amanda Michaud, University of Minnesota
Human Capital Portfolios
Presented by: Pedro Silos, Federal Reserve Bank of Atlanta
Immigration and Spending on Public Education: California 1970-2000
Presented by: Daniele Coen-Pirani, University of Pittsburgh

  

Session 62: Entrepreneurs
Session Chair: Chao He, University of Wisconsin-Madison
Session type: invited
Date: May 22, 2011
Time: 10:30 - 12:15
Location: BT 205
Extortion, Protection and Entrepreneurship
Presented by: Ashantha Ranasinghe, University of Toronto
Bankruptcy, Incorporation and the Nature of Entrepreneurial Risk
Presented by: Jacob Short, University of Western Ontario
Entrepreneurship, Collateral and Monetary Policy
Presented by: Chao He, University of Wisconsin-Madison

  

Session 63: Monetary policy and International Trade
Session Chair: Andrea Ferrero, Federal Reserve Bank of New York
Session type: invited
Date: May 22, 2011
Time: 10:30 - 12:15
Location: BT 305
Optimal Monetary Policy and Inflation Rate Volatility under Local Currency Pricing
Presented by: Eiji OKANO, Chiba Keizai University
The Large-Scale Asset Purchases Had Large International Effects
Presented by: Christopher Neely, Federal Reserve Bank of St. Louis
House Prices Booms and Current Account Deficits
Presented by: Andrea Ferrero, Federal Reserve Bank of New York

  

Session 64: Financial Crises
Session Chair: Lan Xu, Washington University in St. Louis
Session type: invited
Date: May 22, 2011
Time: 10:30 - 12:15
Location: BT 306
Excess Reserves During the U.S. Financial Crisis: A Bank-level Perspective
Presented by: Silvio Contessi, Federal Reserve Bank of St. Louis
Coordination Failure and the Financial Accelerator
Presented by: Oliver de Groot, University of Cambridge
Financial Distress, Corporate Investment and the Chill Effect
Presented by: Lan Xu, Washington University in St. Louis

  

Session 65: Money and Prices
Session Chair: Monica Jain, Queen's University
Session type: invited
Date: May 22, 2011
Time: 10:30 - 12:15
Location: BT 309
The Low-Frequency Impact of Daily Monetary Policy Shocks
Presented by: neville francis, unc
The Quantity Theory Revisited: A New Structural Approach
Presented by: Logan Kelly, University of Wisconsin - River Falls
Perceived Inflation Persistence with Forecaster Heterogeneity
Presented by: Monica Jain, Queen's University