Summary of All Sessions
Click here for an index of all participants

Date/Time	Location	Title	Papers
June 19, 2018 9:00-10:40	G.012 Pio XII	A01: Financial Markets-Invited	4
June 19, 2018 9:00-10:40	G.013 Giovanni XXIII	A02: Evaluation of Unconventional Monetary Policy	4
June 19, 2018 9:00-10:40	G.016 Maria Immacolata	A03: Monetary Policy in Open Economy	4
June 19, 2018 9:00-10:40	G.020 Ubaldi	A04: Oil Market Dynamics	4
June 19, 2018 9:00-10:40	G.112 Necchi	A05: Volatility and Aggregate Fluctuations	4
June 19, 2018 9:00-10:40	G.113 Meda	A06: Macroeconomics and heterogeneity	4
June 19, 2018 9:00-10:40	G.114 Bisleti	A07: Inflation Dynamics I	2
June 19, 2018 9:00-10:40	G.115 Ruffilli	A08: Contracting, Complementarities and Determinacy	4
June 19, 2018 9:00-10:40	G.117 Duns Scoto	A09: Policy Challenges in Currency Unions	4
June 19, 2018 9:00-10:40	G.119 S. Pio X	A10: Financial Market Models	4
June 19, 2018 9:00-10:40	G.120 S. Bonaventura	A11: Business Cycle and Policy Analysis in the Euro Area	4
June 19, 2018 9:00-10:40	G.122 C. Lombardo	A12: Heuristic Switching Model	4
June 19, 2018 11:10-12:50	G.012 Pio XII	B01: Solution Methods for Solving Dynamic Economic Models	4
June 19, 2018 11:10-12:50	G.013 Giovanni XXIII	B02: Advances in the Economics of Climate Change	4
June 19, 2018 11:10-12:50	G.016 Maria Immacolata	B03: Financial Markets-Empirical	4
June 19, 2018 11:10-12:50	G.020 Ubaldi	B04: Banking and Monetary Policy	4
June 19, 2018 11:10-12:50	G.112 Necchi	B05: Macro-labor	4
June 19, 2018 11:10-12:50	G.113 Meda	B06: Large-models Estimation	4
June 19, 2018 11:10-12:50	G.114 Bisleti	B07: Fiscal Policy I	4
June 19, 2018 11:10-12:50	G.115 Ruffilli	B08: Taxation and fiscal policy	3
June 19, 2018 11:10-12:50	G.117 Duns Scoto	B09: Monetary Policy	4
June 19, 2018 11:10-12:50	G.119 S. Pio X	B10: Bounded Rationality in DSGE models	4
June 19, 2018 11:10-12:50	G.120 S. Bonaventura	B11: Networks, spatial inequality and firm distribution	4
June 19, 2018 11:10-12:50	G.122 C. Lombardo	B12: Nonstandard Monetary Policies	3
June 19, 2018 17:10-18:50	G.012 Pio XII	C01: Financial Markets-Information and Network	4
June 19, 2018 17:10-18:50	G.013 Giovanni XXIII	C02: Optimal Policy	4
June 19, 2018 17:10-18:50	G.016 Maria Immacolata	C03: Business cycles and stabilisation policies	4
June 19, 2018 17:10-18:50	G.020 Ubaldi	C04: Identification in VAR Models	4
June 19, 2018 17:10-18:50	G.112 Necchi	C05: Empirical Macro I	4
June 19, 2018 17:10-18:50	G.113 Meda	C06: Frictions in DSGE Models	4
June 19, 2018 17:10-18:50	G.114 Bisleti	C07: Financial Frictions	4
June 19, 2018 17:10-18:50	G.115 Ruffilli	C08: Advances in DSGE Modeling	4
June 19, 2018 17:10-18:50	G.117 Duns Scoto	C09: Macro-prudential Policy	4
June 19, 2018 17:10-18:50	G.119 S. Pio X	C10: Asymmetry and Imperfect Information in Macroeconomics	4
June 19, 2018 17:10-18:50	G.120 S. Bonaventura	C11: Agent-based Modeling of Financial Markets	4
June 19, 2018 17:10-18:50	G.122 C. Lombardo	C12: The Effective Lower Bound on Nominal Interest Rates	3
June 20, 2018 9:00-10:40	G.012 Pio XII	D01: Macro-prudential Policy and Models of Macro-banking	4
June 20, 2018 9:00-10:40	G.013 Giovanni XXIII	D02: Expectations and Risk	3
June 20, 2018 9:00-10:40	G.016 Maria Immacolata	D03: Financial Markets-Heterogeneous Agents	4
June 20, 2018 9:00-10:40	G.020 Ubaldi	D04: International Finance	4
June 20, 2018 9:00-10:40	G.112 Necchi	D05: Climate Change and Energy	3
June 20, 2018 9:00-10:40	G.113 Meda	D06: Financial Intermediation I	4
June 20, 2018 9:00-10:40	G.114 Bisleti	D07: Long Run Trends	4
June 20, 2018 9:00-10:40	G.115 Ruffilli	D08: Evolutionary Modeling	4
June 20, 2018 9:00-10:40	G.117 Duns Scoto	D09: Estimation and Forecasting	3
June 20, 2018 9:00-10:40	G.120 S. Bonaventura	D11: Topics in Macro: Learning and Optimal Fiscal Policy	4
June 20, 2018 9:00-10:40	G.122 C. Lombardo	D12: Housing Sector and the Macroeconomy	3
June 20, 2018 11:10-12:50	G.012 Pio XII	E01: Machine Learning	4
June 20, 2018 11:10-12:50	G.013 Giovanni XXIII	E02: Inflation Dynamics II	4
June 20, 2018 11:10-12:50	G.016 Maria Immacolata	E03: Macroprudential in Network Models	3
June 20, 2018 11:10-12:50	G.020 Ubaldi	E04: Secured and Unsercured Interbank Markets	4
June 20, 2018 11:10-12:50	G.112 Necchi	E05: Financial Markets-Banking	4
June 20, 2018 11:10-12:50	G.113 Meda	E06: Trade and Stabilisation Policies	4
June 20, 2018 11:10-12:50	G.114 Bisleti	E07: Bounded Rationality and Learning I	4
June 20, 2018 11:10-12:50	G.115 Ruffilli	E08: Financial Markets	4
June 20, 2018 11:10-12:50	G.117 Duns Scoto	E09: Financial Intermediation II	4
June 20, 2018 11:10-12:50	G.119 S. Pio X	E10: Expectations in Macroeconomics: Experimental Evidence	4
June 20, 2018 11:10-12:50	G.120 S. Bonaventura	E11: Economics of Climate Change I	4
June 20, 2018 11:10-12:50	G.122 C. Lombardo	E12: Information and Expectations in Macro-finance Models	4
June 20, 2018 15:50-17:30	G.012 Pio XII	F01: Fiscal Policy II	4
June 20, 2018 15:50-17:30	G.122 C. Lombardo	F02: Expectations and Economic Agents' Behavior	4
June 20, 2018 15:50-17:30	G.016 Maria Immacolata	F03: Financial Markets-Asset Pricing	4
June 20, 2018 15:50-17:30	G.020 Ubaldi	F04: Bounded Rationality and Learning II	4
June 20, 2018 15:50-17:30	G.112 Necchi	F05: Labor Market Issues in Open Economies	4
June 20, 2018 15:50-17:30	G.113 Meda	F06: Economics of Climate Change II	3
June 20, 2018 15:50-17:30	G.114 Bisleti	F07: Applied Macro-Finance	4
June 20, 2018 15:50-17:30	G.115 Ruffilli	F08: Volatility and Regime Change	4
June 20, 2018 15:50-17:30	G.117 Duns Scoto	F09: Learning in Games and Markets	4
June 20, 2018 15:50-17:30	G.119 S. Pio X	F10: Migration, Business Cycle and Policy	4
June 20, 2018 15:50-17:30	G.120 S. Bonaventura	F11: Gender and Skills in the Labor Market	4
June 20, 2018 15:50-17:30	G.013 Giovanni XXIII	F12: Technological Change	4
June 21, 2018 9:00-10:40	G.012 Pio XII	G01: International Macroeconomics	4
June 21, 2018 9:00-10:40	G.013 Giovanni XXIII	G02: Validation of Agent-Based Models	4
June 21, 2018 9:00-10:40	G.016 Maria Immacolata	G03: Forecasting	4
June 21, 2018 9:00-10:40	G.020 Ubaldi	G04: Monetary Unions	4
June 21, 2018 9:00-10:40	G.112 Necchi	G05: Economics of Innovation	4
June 21, 2018 9:00-10:40	G.113 Meda	G06: Business Cycles	4
June 21, 2018 9:00-10:40	G.114 Bisleti	G07: Macroeconomic Experiments	4
June 21, 2018 9:00-10:40	G.115 Ruffilli	G08: Information Choice	4
June 21, 2018 9:00-10:40	G.117 Duns Scoto	G09: Labor and Demographics	4
June 21, 2018 9:00-10:40	G.119 S. Pio X	G10: Expectations: Experiments with Human Subjects	3
June 21, 2018 9:00-10:40	G.120 S. Bonaventura	G11: Global Imbalances: Theory and Policy	4
June 21, 2018 9:00-10:40	G.122 C. Lombardo	G12: Economic Dynamics	4
June 21, 2018 11:10-12:50	G.012 Pio XII	H01: Econ-Developers Summit	4
June 21, 2018 11:10-12:50	G.122 C. Lombardo	H02: Macroeconomics	4
June 21, 2018 11:10-12:50	G.016 Maria Immacolata	H03: Impulse and Propagation	3
June 21, 2018 11:10-12:50	G.020 Ubaldi	H04: Modeling Infrequent Structural Change in Macroeconomics	3
June 21, 2018 11:10-12:50	G.112 Necchi	H05: Empirical Macro II	4
June 21, 2018 11:10-12:50	G.113 Meda	H06: Macroprudential and Monetary Policy and Natural Interest Rate	4
June 21, 2018 11:10-12:50	G.114 Bisleti	H07: Agent-based Models, Herding and Opinion Formation	4
June 21, 2018 11:10-12:50	G.115 Ruffilli	H08: Macroeconomic agent-based models	4
June 21, 2018 11:10-12:50	G.117 Duns Scoto	H09: Monetary Policy Under Heterogeneous Expectations	4
June 21, 2018 11:10-12:50	G.119 S. Pio X	H10: Expectations and Social Influence	4
June 21, 2018 11:10-12:50	G.120 S. Bonaventura	H11: Advances in Search	3
June 21, 2018 16:00-17:40	G.012 Pio XII	I01: New Insights on the Effective Lower Bound	4
June 21, 2018 16:00-17:40	G.013 Giovanni XXIII	I02: Climate Change Policy	3
June 21, 2018 16:00-17:40	G.016 Maria Immacolata	I03: Fiscal Policy III	4
June 21, 2018 16:00-17:40	G.020 Ubaldi	I04: Nonlinear Effects of Shocks	4
June 21, 2018 16:00-17:40	G.112 Necchi	I05: Agent-based Macroeconomics	4
June 21, 2018 16:00-17:40	G.113 Meda	I06: Uncertainty and Financial Crisis	4
June 21, 2018 16:00-17:40	G.114 Bisleti	I07: Macroeconomics and Monetary Policy	4
June 21, 2018 16:00-17:40	G.115 Ruffilli	I08: Efficiency and the Complexity of Financial Markets	4
June 21, 2018 16:00-17:40	G.117 Duns Scoto	I09: Solution Methods for Solving Heterogeneous Agents Models	4
June 21, 2018 16:00-17:40	G.119 S. Pio X	I10: Macroeconomic Policies and Inequality	4
June 21, 2018 16:00-17:40	G.122 C. Lombardo	I12: Sources of Business Cycle Fluctuations	4

 

105 sessions, 404 papers, and 0 presentations with no associated papers

Computing in Economics and Finance (CEF 2018)
Detailed List of Sessions

Session: A01: Financial Markets-Invited June 19, 2018 9:00 to 10:40 G.012 Pio XII
Session Chair: Lei Shi, Macquarie University
Information sharing in financial markets
By David Goldbaum; University of Technology Sydney
presented by: David Goldbaum, University of Technology Sydney
Investment Strategies Implied by Behavioral Heterogeneity
By Huanhuan Zheng; National University of Singapore
presented by: Huanhuan Zheng, National University of Singapore
Understanding the complex interplay between multiple asset markets: a simple evolutionary approach
By Roberto Dieci; University of Bologna Noemi Schmitt; University of Bamberg Frank Westerhoff; University of Bamberg
presented by: Roberto Dieci, University of Bologna
Portfolio Optimization and Asset Pricing with Heterogeneous and Constrained Investors
By Lei Shi; Macquarie University
presented by: Lei Shi, Macquarie University
Session: A02: Evaluation of Unconventional Monetary Policy June 19, 2018 9:00 to 10:40 G.013 Giovanni XXIII
Session Chair: Willi Semmler, New School NY, University of Bielefeld
Credit Cycles and Monetary Policy in a Regime Switching Model
By Timm Faulwasser; Karlsruhe Institute of Technology Marco Gross; European Central Bank Willi Semmler; New School NY, University of Bielefeld
presented by: Marco Gross, European Central Bank
A Smooth Transition Model of the Taylor Rule to Account for the Zero Lower Bound
By Timo Terasvirta; Aarhus University
presented by: Timo Terasvirta, Aarhus University
Distributional Effects of Unconventional Monetary Policy
By Pierre Monnin; Council on Economic Policies
presented by: Pierre Monnin, Council on Economic Policies
Systematic Monetary Policy: Conventional vs Unconventional
By Athanasios Orphanides; MIT
presented by: Athanasios Orphanides, MIT
Session: A03: Monetary Policy in Open Economy June 19, 2018 9:00 to 10:40 G.016 Maria Immacolata
Session Chair: Marcin Kolasa, Narodowy Bank Polski
Time-consistent monetary policy, terms of trade manipulation and welfare in open economies
By Sebastian Schmidt; European Central Bank
presented by: Sebastian Schmidt, European Central Bank
What Do Latin American Inflation Targeters Care About? A Comparative Bayesian Estimation of Central Bank Preferences
By Stephen McKnight; El Colegio de Mexico Alexander Mihailov; University of Reading Antonio Pompa Rangel; Banco de México
presented by: Alexander Mihailov, University of Reading
Central bank credibility, long-term yields and the effects of monetary integration
By Marcin Kolasa; Narodowy Bank Polski Dominik Supera; Wharton School, University of Pennsylvania
presented by: Marcin Kolasa, Narodowy Bank Polski
Welfare effects of business cycles and monetary policies in a small open emerging economy
By Jolan Mohimont; University of Namur
presented by: Jolan Mohimont, University of Namur
Session: A04: Oil Market Dynamics June 19, 2018 9:00 to 10:40 G.020 Ubaldi
Session Chair: Nida Cakir Melek, Federal Reserve Bank of Kansas City
A New(s) Approach to Identifying Oil Supply Disruptions
By Nida Cakir Melek; Federal Reserve Bank of Kansas City Andrew Smith; Federal Reserve Bank of Kansas City
presented by: Nida Cakir Melek, Federal Reserve Bank of Kansas City
Formation of Market Beliefs in the Oil Market
By Stanislav Anatolyev; CERGE-EI and New Economic School Sergei Seleznev; - Veronika Selezneva; CERGE-EI
presented by: Veronika Selezneva, CERGE-EI
Oil Price Declines Could Hurt Financial Markets and A Possible Explanation
By Ha Nguyen; The World Bank Anh Pham; George Mason University
presented by: Anh Pham, George Mason University
The Shale Oil Boom and the U.S. Economy: A Time-Varying Analysis
By Hilde Bjørnland; BI Norwegian Business School Julia Zhulanova; BI Norwegian Business School
presented by: Julia Zhulanova, BI Norwegian Business School
Session: A05: Volatility and Aggregate Fluctuations June 19, 2018 9:00 to 10:40 G.112 Necchi
Session Chair: Danilo Leiva-Leon, Banco de España
Global Macroeconomic Volatility
By Danilo Leiva-Leon; Banco de España
presented by: Danilo Leiva-Leon, Banco de España
Aggregate and Firm level volatility: the role of acquisitions and disposals.
By Chris Higson; London Business School Sean Holly; Cambridge University
presented by: Sean Holly, Cambridge University
A new index to measure the degree of granularity of an economy
By Simone Alfarano; University Jaume I
presented by: Simone Alfarano, University Jaume I
Measuring financial interdependence in asset returns with an application to euro zone equities
By Renee Fry-McKibbin; Australian National University
presented by: Renee Fry-McKibbin, Australian National University
Session: A06: Macroeconomics and heterogeneity June 19, 2018 9:00 to 10:40 G.113 Meda
Session Chair: Xiaodan Gao, National University of Singapore
The effects of monetary policy shocks on inequality in Japan
By Masayuki Inui; Bank of Japan Nao Sudo; Bank of Japan Tomoaki Yamada; Meiji University
presented by: Tomoaki Yamada, Meiji University
Capital Misallocation during the Great Recession
By Alessandro Di Nola; University of Konstanz
presented by: Alessandro Di Nola, University of Konstanz
Firm Dynamism and Housing Price Volatility
By Brendan Epstein; University of Massachusetts, Lowell Alan Finkelstein Shapiro; Tufts University Andres Gonzalez Gomez; International Monetary Fund
presented by: Andres Gonzalez Gomez, International Monetary Fund
The Role of Corporate Saving over the Business Cycle: Shock Absorber or Amplifier?
By Xiaodan Gao; National University of Singapore Shaofeng Xu; Bank of Canada
presented by: Xiaodan Gao, National University of Singapore
Session: A07: Inflation Dynamics I June 19, 2018 9:00 to 10:40 G.114 Bisleti
Session Chair: Demetris Koursaros, Cyprus University of Technology
Do we really know that monetary policy was destabilizing in the 1970's?
By Nicolas Groshenny; University of Adelaide Qazi Haque; The University of Adelaide Mark Weder; The University of Adelaide
presented by: Nicolas Groshenny, University of Adelaide
Sales and Promotions and the Great Recession Deflation
By Demetris Koursaros; Cyprus University of Technology
presented by: Demetris Koursaros, Cyprus University of Technology
Session: A08: Contracting, Complementarities and Determinacy June 19, 2018 9:00 to 10:40 G.115 Ruffilli
Session Chair: Asier Aguilera-Bravo, Universidad Pública de Navarra
The calm policymaker
By John Barrdear; Bank of England
presented by: John Barrdear, Bank of England
Does State-Dependent Wage Setting Generate Multiple Equilibria?
By Shuhei Takahashi; Kyoto University
presented by: Shuhei Takahashi, Kyoto University
Long-term contracts, bargaining and monetary policy
By Mirko Abbritti; Universidad de Navarra Asier Aguilera-Bravo; Universidad Pública de Navarra Tommaso Trani; Universidad de Navarra
presented by: Asier Aguilera-Bravo, Universidad Pública de Navarra
Imperfect Governance and Price Stickiness in Emerging Economies
By ZOUHAIR AIT BENHAMOU; EconomiX
presented by: ZOUHAIR AIT BENHAMOU, EconomiX
Session: A09: Policy Challenges in Currency Unions June 19, 2018 9:00 to 10:40 G.117 Duns Scoto
Session Chair: Luisa Lambertini, EPFL
Austerity in the Aftermath of the Great Recession
By Linda Tesar; University of Michigan
presented by: Linda Tesar, University of Michigan
Shocks and Policy Stance in the Euro Area
By Nicoletta Batini; International Monetary Fund Alessandro Cantelmo; International Monetary Fund Giovanni Melina; International Monetary Fund stefania villa; Fellow at Banca d'Italia
presented by: Giovanni Melina, International Monetary Fund
Uncertainty shocks and currency pegs
By Benjamin Born; University of Bonn Gernot Mueller; University of Tuebingen Johannes Pfeifer; University of Cologne
presented by: Benjamin Born, University of Bonn
Fiscal Policy, Inflation and Trade
By Luisa Lambertini; EPFL Christian Proebsting; EPFL
presented by: Luisa Lambertini, EPFL
Session: A10: Financial Market Models June 19, 2018 9:00 to 10:40 G.119 S. Pio X
Session Chair: Xuezhong (Tony) He, University of Technology Sydney
Destabilizing Order Imbalance
By Nihad Aliyev; University of Technology Sydney Xuezhong (Tony) He; University of Technology Sydney Talis Putnins; University of Technology Sydney
presented by: Nihad Aliyev, University of Technology Sydney
Information Diffusion and Speed Competition
By Xuezhong (Tony) He; University of Technology Sydney Junqing Kang; University of Technology Sydney
presented by: Xuezhong (Tony) He, University of Technology Sydney
Informed trading in a two-tier market structure under financial distress
By Paola Paiardini; University of Birmingham Claudio Impenna; Banca D'Italia
presented by: Paola Paiardini, University of Birmingham
CDS Central Counterparty Clearing Liquidation: Road to Recovery or Invitation to Predation?
By Magdalena Tywoniuk; University of Geneva
presented by: Magdalena Tywoniuk, University of Geneva
Session: A11: Business Cycle and Policy Analysis in the Euro Area June 19, 2018 9:00 to 10:40 G.120 S. Bonaventura
Session Chair: Markus Haavio, Bank of Finland
Debunking the Myth of Southern Profligacy. A DSGE Analysis of Business Cycles in the EMU’s Big Four
By Alice Albonico; University of Milan Bicocca Roberta Cardani; Joint Research Center, European Commission Patrizio Tirelli; University of Milano-Bicocca
presented by: Alice Albonico, University of Milan Bicocca
Adjustment dynamics and business-cycle heterogeneity in EMU: Evidence from estimated DSGE models
By Massimo Giovannini; European Commission Stefan Hohberger; European Commission - JRC Marco Ratto; European Commission - Joint Research Centre Lukas Vogel; European Commission
presented by: Stefan Hohberger, European Commission - JRC
Forecasting Deflation Probability in the EA: A Combinatoric Approach
By Luca Brugnolini; University of Rome Tor Vergata and Central Bank of Malta
presented by: Luca Brugnolini, University of Rome Tor Vergata and Central Bank of Malta
Natural rate of interest in the euro area
By Markus Haavio; Bank of Finland
presented by: Markus Haavio, Bank of Finland
Session: A12: Heuristic Switching Model June 19, 2018 9:00 to 10:40 G.122 C. Lombardo
Session Chair: Michele Berardi, University of Manchester
Evolutionary Selection of Prediction and Quantity Decision Rules in Experimental Asset Markets
By Jiahua Zhu; Nanyang Technological University Te Bao; Nanyang Technological University Wai Mun Chia; Nanyang Technological University
presented by: Jiahua Zhu, Nanyang Technological University
Examining the Heuristics Switching Model in Learning-to-Forecast Experiments
By Chung-Ching Tai; Tunghai University Shu-Heng Chen; National Chengchi University
presented by: Chung-Ching Tai, Tunghai University
Traders, forecasters and financial instability. A model of individual learning of anchor-and-adjustment heuristics.
By Tomasz Makarewicz; University of Bamberg
presented by: Tomasz Makarewicz, University of Bamberg
Discrete beliefs space and equilibrium: a cautionary note
By Michele Berardi; University of Manchester
presented by: Michele Berardi, University of Manchester
Session: B01: Solution Methods for Solving Dynamic Economic Models June 19, 2018 11:10 to 12:50 G.012 Pio XII
Session Chair: Michel Juillard, Banque de France
Dynamic Perturbation
By Alessandro Mennuni; University of Southampton Serhiy Stepanchuk; University of Southampton
presented by: Serhiy Stepanchuk, University of Southampton
Higher order approximation of DSGE models with Julia
By Michel Juillard; Banque de France
presented by: Michel Juillard, Banque de France
Likelihood Evaluation of Models with Occasionally Binding Constraints
By Pablo Cuba-Borda; Federal Reserve Board
presented by: Pablo Cuba-Borda, Federal Reserve Board
Automated Economic Reasoning with Quantifier Elimination
By Casey Mulligan; University of Chicago
presented by: Casey Mulligan, University of Chicago
Session: B02: Advances in the Economics of Climate Change June 19, 2018 11:10 to 12:50 G.013 Giovanni XXIII
Session Chair: Willi Semmler, New School NY, University of Bielefeld
On computing the social cost of carbon as the net present value of damages in a dynamic welfare maximization framework
By Steven Weller; University of Newcastle Chris Kellett; University of Newcastle Timm Faulwasser; Karlsruhe Institute of Technology Lars Gruene; Bayreuth University Willi Semmler; New School NY, University of Bielefeld
presented by: Steven Weller, University of Newcastle
An Extended Integrated Assessment Model for Mitigation & Adaptation Policies on Climate Change -- A Multi-Phase Approach
By Willi Semmler; New School NY, University of Bielefeld Helmut Maurer; University of Muenster Tony Bonen; Housing Research Canada
presented by: Willi Semmler, New School NY, University of Bielefeld
Climate Change and Macroconomic Outcomes in Low-Income Countries
By Alessandro Cantelmo; International Monetary Fund Giovanni Melina; International Monetary Fund Chris Papageorgiou; IMF
presented by: Alessandro Cantelmo, International Monetary Fund
Green bonds and financial markets: Transition to a low-carbon economy in an extended DICE model
By Sergey Orlov; IIASA, Vienna Elena Rovenskaya; IIASA, Vienna Willi Semmler; New School NY, University of Bielefeld
presented by: Elena Rovenskaya, IIASA, Vienna
Session: B03: Financial Markets-Empirical June 19, 2018 11:10 to 12:50 G.016 Maria Immacolata
Session Chair: George Tauchen, Duke University
Predicting intraday returns based on overnight returns for the US stock market
By Cees Diks; University of Amsterdam Hao Li; University of Amsterdam Valentyn Panchenko; University of New South Wales
presented by: Hao Li, University of Amsterdam
Estimating Yield Curves of the U.S. Treasury Securities: An Interpolation Approach
By Feng Guo; Central University of Finance and Economics
presented by: Feng Guo, Central University of Finance and Economics
EMPIRICAL ANALYSIS AND FORECASTING OF MULTIPLE YIELD CURVES
By Christoph Gerhart; University of Freiburg Eva Lütkebohmert; University of Freiburg
presented by: Eva Luetkebohmert, University of Freiburg
Jump Factor Models in Large Cross-Sections
By George Tauchen; Duke University
presented by: George Tauchen, Duke University
Session: B04: Banking and Monetary Policy June 19, 2018 11:10 to 12:50 G.020 Ubaldi
Session Chair: Patrick Fève, Toulouse School of Economics
Coordinating Monetary and Financial Regulatory Policies
By Alejandro Van der Ghote; European Central Bank
presented by: Alejandro Van der Ghote, European Central Bank
Risk-Taking Channel of Unconventional Monetary Policies in Bank Lending
By Kiyotaka Nakashima; Konan University Masahiko Shibamoto; Kobe University Koji Takahashi; Bank of Japan
presented by: Koji Takahashi, Bank of Japan
Concerted Efforts? Monetary Policy and Macro-Prudential Tools
By Andrea Ferrero; University of Oxford Richard Harrison; Bank of England Benjamin Nelson; Bank of England
presented by: Andrea Ferrero, University of Oxford
Macroprudential and Monetary Policies with an Imperfectly Competitive Banking Sector
By Nimrod Segev; Fordham University
presented by: Nimrod Segev, Fordham University
Session: B05: Macro-labor June 19, 2018 11:10 to 12:50 G.112 Necchi
Session Chair: Joel Wagner, Bank of Canada
Immigration and the Macroeconomy: the Role of Non-Job Related Immigration
By Francesco Furlanetto; Norges Bank Ørjan Robstad; Norges Bank
presented by: Francesco Furlanetto, Norges Bank
Labor Mobility in a Monetary Union
By Daniela Hauser; Bank of Canada Martin Seneca; Bank of England
presented by: Daniela Hauser, Bank of Canada
Missing Wage Inflation? Estimating Downward Wage Rigidity and Natural Rate of Unemployment in a Nonlinear DSGE Model
By Yuto Iwasaki; Bank of Japan Ichiro Muto; Bank of Japan Mototsugu Shintani; University of Tokyo
presented by: Yuto Iwasaki, Bank of Japan
Downward Nominal Wage Rigidity in Canada: Evidence against a greasing effect
By Joel Wagner; Bank of Canada
presented by: Joel Wagner, Bank of Canada
Session: B06: Large-models Estimation June 19, 2018 11:10 to 12:50 G.113 Meda
Session Chair: Robert Kollmann, ECARES, Université Libre de Bruxelles & CEPR
The aggregate and country-specific effectiveness of ECB policy: evidence from an external instruments VAR approach
By Lucas Hafemann; Justus-Liebig-Universität Giessen Peter Tillmann; Justus-Liebig-Universität Gießen
presented by: Lucas Hafemann, Justus-Liebig-Universität Giessen
The Global Multi-country Model (GM): an Estimated DSGE Model for Euro Area Countries
By Alice Albonico; University of Milan Bicocca Ludovic Cales; University of Lausanne Roberta Cardani; Joint Research Center, European Commission Olga Croitorov; European Commission -Joint Research Center Filippo Ferroni; Chicago FED Massimo Giovannini; European Commission Stefan Hohberger; European Commission - JRC Beatrice Pataracchia; European Commission - Joint Research Centre Filippo Maria Pericoli; European Commission, JRC Rafal Raciborski; European Commission Marco Ratto; European Commission - Joint Research Centre Werner Roeger; European Comission Lukas Vogel; European Commission
presented by: Roberta Cardani, Joint Research Center, European Commission
The Macroeconomic Effects of Quantitative Easing in the Euro Area: Evidence from an Estimated DSGE Model
By Stefan Hohberger; European Commission - JRC Romanos Priftis; Bank of Canada Lukas Vogel; European Commission
presented by: Romanos Priftis, Bank of Canada
Euro Area and US external adjustment: The Role of Commodity Prices and Emerging Market Shocks
By Massimo Giovannini; European Commission Stefan Hohberger; European Commission - JRC Robert Kollmann; ECARES, Université Libre de Bruxelles & CEPR Marco Ratto; European Commission - Joint Research Centre Werner Roeger; European Comission Lukas Vogel; European Commission
presented by: Robert Kollmann, ECARES, Université Libre de Bruxelles & CEPR
Session: B07: Fiscal Policy I June 19, 2018 11:10 to 12:50 G.114 Bisleti
Session Chair: Simona Hannon, Federal Reserve Board
Model-Based Estimation of Sovereign Default Risk
By Inci Gumus; Sabanci University Munechika Katayama; Waseda University Junko Koeda; Waseda University
presented by: Inci Gumus, Sabanci University
The Government Spending Multiplier at the Zero Lower Bound: International Evidence from Historical Data
By Mathias Klein; DIW Berlin Roland Winkler; University of Antwerp
presented by: Roland Winkler, University of Antwerp
Money-Financed versus Debt-Financed Fiscal Stimulus with Borrowing Constraints
By Chiara Punzo; Università Cattolica del Sacro Cuore Lorenza Rossi; University of Pavia
presented by: Chiara Punzo, Università Cattolica del Sacro Cuore
The Multiplier Effect of Education Expenditure
By Simona Hannon; Federal Reserve Board
presented by: Simona Hannon, Federal Reserve Board
Session: B08: Taxation and fiscal policy June 19, 2018 11:10 to 12:50 G.115 Ruffilli
Session Chair: Anastasios Karantounias, Federal Reserve Bank of Atlanta
The Aggregate Consequences of Tax Evasion
By Alessandro Di Nola; University of Konstanz Anna-Mariia Tkhir; University of Konstanz Georgi Kocharkov; University of Konstanz Almuth Scholl; University of Konstanz
presented by: Anna-Mariia Tkhir, University of Konstanz
Optimal time-consistent taxation with default
By Anastasios Karantounias; Federal Reserve Bank of Atlanta
presented by: Anastasios Karantounias, Federal Reserve Bank of Atlanta
Repatriation Taxes
By M. Saif Mehkari; University of Richmond Chadwick Curtis; University of Richmond Julio Garin; Claremont McKenna College
presented by: Chadwick Curtis, University of Richmond
Session: B09: Monetary Policy June 19, 2018 11:10 to 12:50 G.117 Duns Scoto
Session Chair: Filippo Ferroni, Chicago FED
Delphic and Odyssean monetary policy shocks: Evidence from the euro-area
By Filippo Ferroni; Chicago FED
presented by: Filippo Ferroni, Chicago FED
Real implications of quantitative easing in the euro area: a financial network analysis
By Chiara Perillo; University of Zurich
presented by: Chiara Perillo, University of Zurich
News Shock Spillovers: How the Euro Area Responds to Expected Fed Policy
By Paul Rudel; Justus-Liebig-University Peter Tillmann; Justus-Liebig-Universität Gießen
presented by: Paul Rudel, Justus-Liebig-University
New Evidences on Quantitative Easing Effects
By Valentin JOUVANCEAU; GATE CNRS
presented by: Valentin JOUVANCEAU, GATE CNRS
Session: B10: Bounded Rationality in DSGE models June 19, 2018 11:10 to 12:50 G.119 S. Pio X
Session Chair: Daniel Carroll, Federal Reserve Bank of Cleveland
Recursive equilibria in dynamic economies with bounded rationality
By Runjie Geng; University of Zurich
presented by: Runjie Geng, University of Zurich
Disagreement vs. Uncertainty: Investment Dynamics and Business Cycles
By Dun Jia; Renmin University of China
presented by: Dun Jia, Renmin University of China
The impact of household heterogeneity in the presence of model uncertainty
By Edouard Djeutem; Bank of Canada Shaofeng Xu; Bank of Canada
presented by: Edouard Djeutem, Bank of Canada
The Dynamics of the Racial Wealth Gap
By Dionissi Aliprantis; Federal Reserve Bank of Cleveland Daniel Carroll; Federal Reserve Bank of Cleveland Eric Young; University of Virginia
presented by: Daniel Carroll, Federal Reserve Bank of Cleveland
Session: B11: Networks, spatial inequality and firm distribution June 19, 2018 11:10 to 12:50 G.120 S. Bonaventura
Session Chair: Andrea Stella, Federal Reserve Board
An Empirical Analysis of the Propagation of Corporate Bankruptcy
By Yoshiyuki Arata; The Research Institute of Economy, Trade and Industry
presented by: Yoshiyuki Arata, The Research Institute of Economy, Trade and Industry
Network Evolution of European Outward Foreign Direct Investments
By Giulia De Masi; Canadian University Giorgio Ricchiuti; Università degli Studi di Firenze
presented by: Giorgio Ricchiuti, Università degli Studi di Firenze
Spatial Inequality and Housing in China
By Thomas Fischer; Lund University
presented by: Thomas Fischer, Lund University
On the U.S. Firm and Establishment Size Distributions
By Illenin Kondo; Notre Dame Logan Lewis; Federal Reserve Board of Governors Andrea Stella; Federal Reserve Board
presented by: Andrea Stella, Federal Reserve Board
Session: B12: Nonstandard Monetary Policies June 19, 2018 11:10 to 12:50 G.122 C. Lombardo
Session Chair: Michele Cavallo, Federal Reserve Board
Natural Yield Curve Targeting During Unconventional Times
By Falk Mazelis; European Central Bank
presented by: Falk Mazelis, European Central Bank
Forward Guidance: Is It Useful After the Crisis?
By Lilia Maliar; Stanford University
presented by: Lilia Maliar, Stanford University
Fiscal Implications of the Federal Reserve's Balance Sheet Normalization
By Michele Cavallo; Federal Reserve Board Marco Del Negro; Federal Reserve Bank of New York Scott Frame Jamie Grasing; University of Maryland Ben Malin; Federal Reserve Bank of Minneapolis Carlo Rosa
presented by: Michele Cavallo, Federal Reserve Board
Session: C01: Financial Markets-Information and Network June 19, 2018 17:10 to 18:50 G.012 Pio XII
Session Chair: Saskia ter Ellen, Norges Bank
The Granular Origins of House Price Volatility
By Isaiah Hull; Sveriges Riksbank Conny Olovsson; Sveriges riksbank Karl Walentin; Sveriges Riksbank (Bank of Sweden) Andreas Westermark; Sveriges Riksbank
presented by: Isaiah Hull, Sveriges Riksbank
The Double-Edged Sword of Global Integration: Robustness, Fragility & Contagion in the International Firm Network
By Julieta Yung; Bates College Everett Grant; Federal Reserve Bank of Dallas
presented by: Julieta Yung, Bates College
Asymmetric Attention
By Alexandre Kohlhas; Institute for International Economic Studies, Stockholm University
presented by: Alexandre Kohlhas, Institute for International Economic Studies, Stockholm University
Who listens when the ECB talks? Spillovers from ECB's monetary policy and communication
By Saskia ter Ellen; Norges Bank Edvard Jansen; Formuesforvaltning Nina Midthjell; Norges Bank
presented by: Saskia ter Ellen, Norges Bank
Session: C02: Optimal Policy June 19, 2018 17:10 to 18:50 G.013 Giovanni XXIII
Session Chair: Marco Cozzi, University of Victoria
Optimal Capital Taxation with Incomplete Markets and Schumpeterian Growth
By Marco Cozzi; University of Victoria
presented by: Marco Cozzi, University of Victoria
Optimal Capital Income Taxation Under Capital-Skill Complementarity
By Ctirad Slavik; Charles University, Prague Hakki Yazici; Sabanci University
presented by: Ctirad Slavik, Charles University, Prague
Risk Sharing among Large and Small Countries
By Giancarlo Corsetti; University of Cambridge Anna Lipinska; Federal Reserve Board Giovanni Lombardo; Bank for International Settlements
presented by: Anna Lipinska, Federal Reserve Board
Policy Targets in a Linear Quadratic Framework
By Chiara Forlati; University of Southampton Stefano Gnocchi; Bank of Canada
presented by: Chiara Forlati, University of Southampton
Session: C03: Business cycles and stabilisation policies June 19, 2018 17:10 to 18:50 G.016 Maria Immacolata
Session Chair: Juan Guerra-Salas, Central Bank of Chile
Business cycle narratives
By Vegard Larsen; Norges Bank Leif Anders Thorsrud; Norges Bank
presented by: Leif Anders Thorsrud, Norges Bank
Euro area unemployment insurance at the time of zero nominal interest rates
By Guillaume Claveres; Universite Paris 1 Pantheon-Sorbonne Jan Strasky; OECD
presented by: Guillaume Claveres, Universite Paris 1 Pantheon-Sorbonne
Macroprudential Housing Policies in Global Cities: Can They be Stabilising?
By Taojun Xie; Singapore Management University
presented by: Taojun Xie, Singapore Management University
Government Investment and the Business Cycle in Oil-Exporting Countries
By Juan Guerra-Salas; Central Bank of Chile
presented by: Juan Guerra-Salas, Central Bank of Chile
Session: C04: Identification in VAR Models June 19, 2018 17:10 to 18:50 G.020 Ubaldi
Session Chair: Tomasz Wozniak, University of Melbourne
Bayesian Structural VAR models: an extended approach
By Martin Bruns; DIW Berlin Michele Piffer; Queen Mary, University of London
presented by: Michele Piffer, Queen Mary, University of London
Bayesian inference for structural vector autoregressions identified by Markov-switching heteroskedasticity
By Helmut Luetkepohl; DIW Berlin and FU Berlin Tomasz Wozniak; University of Melbourne
presented by: Tomasz Wozniak, University of Melbourne
GMM Estimation of Non-Gaussian Structural Vector Autoregression
By Markku Lanne; University of Helsinki Jani Luoto; University of Helsinki
presented by: Markku Lanne, University of Helsinki
Identification of Structural Vector Autoregressions Through Higher Unconditional Moments
By Michel Normandin; HEC Montreal
presented by: Michel Normandin, HEC Montreal
Session: C05: Empirical Macro I June 19, 2018 17:10 to 18:50 G.112 Necchi
Session Chair: Malte Rieth, DIW Berlin
An Output Gap Measure for the Euro Area: Exploiting Country-level and Cross-sectional Data Heterogeneity
By Manuel Gonzalez-Astudillo; Board of Governors of the Federal Reserve System
presented by: Manuel Gonzalez-Astudillo, Board of Governors of the Federal Reserv
Estimating finance-neutral output gaps
By Tino Berger; University of Goettingen Julia Richter; University of Goettingen
presented by: Julia Richter, University of Goettingen
The Natural Rate of Interest in a Nonlinear DSGE Model
By Yasuo Hirose; Keio University Takeki Sunakawa; Kobe University
presented by: Yasuo Hirose, Keio University
An Agnostic Identification of Fiscal Policy Shocks in the United States
By Mathias Klein; DIW Berlin Malte Rieth; DIW Berlin
presented by: Malte Rieth, DIW Berlin
Session: C06: Frictions in DSGE Models June 19, 2018 17:10 to 18:50 G.113 Meda
Session Chair: Paulo Santos Monteiro, University of York
Government Spending and the Term Structure of Interest Rates in a DSGE Model
By Ales Marsal; National Bank of Slovakia Lorant Kaszab; Central Bank of Hungary Roman Horvath; Charles University
presented by: Ales Marsal, National Bank of Slovakia
Equilibrium Yield Curve, the Phillips Curve, and Monetary Policy
By Mitsuru Katagiri; International Monetary Fund
presented by: Mitsuru Katagiri, International Monetary Fund
Okun's Law, Business Cycles and Unemployment Insurance
By Nikolaos Kokonas; University of Bath Paulo Santos Monteiro; University of York
presented by: Paulo Santos Monteiro, University of York
Firms Asymmetric Spending and the Business Cycle
By issam samiri; Birkbeck, University of London
presented by: issam samiri, Birkbeck, University of London
Session: C07: Financial Frictions June 19, 2018 17:10 to 18:50 G.114 Bisleti
Session Chair: Alessandro Mennuni, University of Southampton
DSGE models with financial frictions: frequency does matter
By Claudia Foroni; Deutsche Bundesbank Paolo Gelain; Federal Reserve Bank of Cleveland Massimiliano Marcellino; Bocconi University
presented by: Paolo Gelain, Federal Reserve Bank of Cleveland
Quantitative Easing and Portfolio Rebalancing in a Currency Union
By Serdar Kabaca; Bank of Canada Kostas Mavromatis; De Nederlandsche Bank
presented by: Serdar Kabaca, Bank of Canada
Which Financial Shocks Drive the Business Cycle?
By Andrea Ajello; Federal Reserve Board Jonathan Goldberg; Federal Reserve Board Ander Perez-Orive; Federal Reserve Board
presented by: Andrea Ajello, Federal Reserve Board
Excess Capacity and Liquid Accounts as a Store of Value
By Alessandro Mennuni; University of Southampton
presented by: Alessandro Mennuni, University of Southampton
Session: C08: Advances in DSGE Modeling June 19, 2018 17:10 to 18:50 G.115 Ruffilli
Session Chair: Dana Galizia, Carleton University
Extended function path perturbation method for nonstationary and unbalanced growth models
By Vadym Lepetyuk; Bank of Canada Lilia Maliar; Stanford University Serguei Maliar; Santa Clara University
presented by: Serguei Maliar, Santa Clara University
An Alternative Solution Method for Continuous-Time Heterogeneous Agent Models with Aggregate Shocks
By Nobuhide Okahata; Ohio State University
presented by: Nobuhide Okahata, Ohio State University
Calibration and the estimation of macroeconomic models
By Nikolay Iskrev; Bank of Portugal
presented by: Nikolay Iskrev, Bank of Portugal
Saddle Cycles: Solving Rational Expectations Models Featuring Limit Cycles (or Chaos) Using Perturbation Methods
By Dana Galizia; Carleton University
presented by: Dana Galizia, Carleton University
Session: C09: Macro-prudential Policy June 19, 2018 17:10 to 18:50 G.117 Duns Scoto
Session Chair: Bulent Guler, Indiana University Bloomington
Global Financial Spillovers, Monetary and Macroprudential Policies in an Emerging Economy
By AIDA GARCIA-LAZARO; University of York
presented by: AIDA GARCIA-LAZARO, University of York
Housing boom-bust cycles and asymmetric macroprudential policy
By William Gatt; University of Nottingham
presented by: William Gatt, University of Nottingham
Housing Crisis, Deterioration of Bank Balance Sheets, and Macroprudential Policies
By Bulent Guler; Indiana University Bloomington
presented by: Bulent Guler, Indiana University Bloomington
Preference for Housing Services and Rational Housing Bubbles
By Stefanie Huber; University of Amsterdam, Tinbergen Institute
presented by: Stefanie Huber, University of Amsterdam, Tinbergen Institute
Session: C10: Asymmetry and Imperfect Information in Macroeconomics June 19, 2018 17:10 to 18:50 G.119 S. Pio X
Session Chair: Celine Poilly, Aix-Marseille University
The Scarring Effect of Asymmetric Business Cycles
By Domenico Ferraro; Arizona State University Giuseppe Fiori; North Carolina State University
presented by: Giuseppe Fiori, North Carolina State University
Business cycles in space
By Tom Holden; University of Surrey Jonathan Swarbrick; Bank of Canada
presented by: Tom Holden, University of Surrey
Technological Propagation of Sovereign Credit Risk
By Francesco Bianchi; Duke University Diego Comin; Dartmouth College Thilo Kind; London Business School Howard Kung; London Business School
presented by: Thilo Kind, London Business School
Do Misperceptions about Demand Matter? Theory and Evidence
By Celine Poilly; Aix-Marseille University Kenza Benhima; University of Lausanne (HEC)
presented by: Celine Poilly, Aix-Marseille University
Session: C11: Agent-based Modeling of Financial Markets June 19, 2018 17:10 to 18:50 G.120 S. Bonaventura
Session Chair: Yu Zhang, Southwestern University of Finance and Economics
Asset pricing dynamics under expectations diffusion: the effect of social influence, homophily and stubborn agents
By Alessandro Basurto; University of Amsterdam and Bielefeld Herbert Dawid; Bielefeld University
presented by: Alessandro Basurto, University of Amsterdam and Bielefeld
The Role of Heterogeneous Beliefs in Skill Acquisition
By XING GAO; University of Leicester Daniel Ladley; University of Leicester
presented by: XING GAO, University of Leicester
Information, locational, and speed advantages in a limit order market
By Ryuichi Yamamoto; Waseda University
presented by: Ryuichi Yamamoto, Waseda University
Producers’ Expectation, Demand Heterogeneity, and Endogenous Commodity Price Cycles
By Xinyi Deng; Southwestern University of Finance and Economics Yu Zhang; Southwestern University of Finance and Economics
presented by: Yu Zhang, Southwestern University of Finance and Economics
Session: C12: The Effective Lower Bound on Nominal Interest Rates June 19, 2018 17:10 to 18:50 G.122 C. Lombardo
Session Chair: Oliver de Groot, European Central Bank
Precautionary Pricing: The Disinflationary Effects of the ELB Away from the ELB
By Robert Amano; Bank of Canada Thomas Carter; Bank of Canada Sylvain Leduc; Bank of Canada
presented by: Thomas Carter, Bank of Canada
Nominal GDP Targeting and Long Run Uncertainty
By Sami Alpanda; University of Central Florida Gino Cateau; Bank of Canada
presented by: Sami Alpanda, University of Central Florida
The Signalling Channel of Negative Interest Rates
By Oliver de Groot; European Central Bank Alexander Haas; European Central Bank, DIW Berlin
presented by: Oliver de Groot, European Central Bank
Session: D01: Macro-prudential Policy and Models of Macro-banking June 20, 2018 9:00 to 10:40 G.012 Pio XII
Session Chair: Andrea Ferrero, University of Oxford
Shadow Banking and Business Cycles
By Patrick Fève; Toulouse School of Economics
presented by: Patrick Fève, Toulouse School of Economics
Optimal Credit Market Policy in an Infinite Horizon Model
By Matteo Iacoviello; Federal Reserve Board
presented by: Matteo Iacoviello, Federal Reserve Board
The Macroeconomic Effectiveness of Bank Bail-ins
By Matthijs Katz; University of Groningen Christiaan van der Kwaak
presented by: Christiaan van der Kwaak,
Macroprudential Policy in an Uncertain World
By Andrea Ferrero; University of Oxford Riccardo Maria Masolo; Bank of England Francesca Monti; Bank of England
presented by: Riccardo Maria Masolo, Bank of England
Session: D02: Expectations and Risk June 20, 2018 9:00 to 10:40 G.013 Giovanni XXIII
Session Chair: Kenza Benhima, University of Lausanne (HEC)
The response of multinationals’ foreign exchange rate exposure to macroeconomic news
By Kris Boudt; Vrije Universiteit Brussel en VU Univers Christopher Neely; Federal Reserve Bank of St. Louis Piet Sercu; KU Leuven Marjan Wauters; Independent
presented by: Christopher Neely, Federal Reserve Bank of St. Louis
FX Interventions, Market Expectations, and Risk Premia
By Christiane Baumeister; University of Notre Dame Nelson Mark; University of Notre Dame Daniel Mershon; University of Notre Dame
presented by: Daniel Mershon, University of Notre Dame
News, Sentiment and Capital Flows
By Kenza Benhima; University of Lausanne (HEC)
presented by: Kenza Benhima, University of Lausanne (HEC)
Session: D03: Financial Markets-Heterogeneous Agents June 20, 2018 9:00 to 10:40 G.016 Maria Immacolata
Session Chair: Frank Westerhoff, University of Bamberg
Disposition effect and adaptive asset allocation in limit order markets
By Lijian Wei; Sun Yat-sen University Yian Cui; Tianjin University Xiong XIONG; Tianjin University
presented by: Lijian Wei, Sun Yat-sen University
Behavioral heterogeneity in a three-market financial system
By Sook Rei Tan; Nanyang Technological University Changtai Li; Nanyang Technological University Wai Mun Chia; Nanyang Technological University
presented by: Changtai Li, Nanyang Technological University
Local Interactions in the Markets with Heterogeneous Expectations
By Mikhail Anufriev; University of Technology Sydney Andrea Giovannetti; University of Technology Sydney Valentyn Panchenko; University of New South Wales
presented by: Valentyn Panchenko, University of New South Wales
Trend followers, contrarians and fundamentalists: explaining the dynamics of financial markets
By Noemi Schmitt; University of Bamberg Frank Westerhoff; University of Bamberg
presented by: Frank Westerhoff, University of Bamberg
Session: D04: International Finance June 20, 2018 9:00 to 10:40 G.020 Ubaldi
Session Chair: Salih Fendoglu, Central Bank of the Republic of Turkey; Center for Economics and Econometri
Sovereign risk and asset market dynamics in the euro area
By Erica Perego; University of Evry, Paris-Saclay
presented by: Erica Perego, University of Evry, Paris-Saclay
Interest premium and economic growth: the case of CEE
By Daniel Baksa; Central European University Istvan Konya; Hungarian Academy of Sciences
presented by: Istvan Konya, Hungarian Academy of Sciences
Real Interest Rates and Productivity in Small Open Economies
By Tommaso Monacelli; Università Bocconi and IGIER Luca Sala; Universita' Bocconi Daniele Siena; Banque de France
presented by: Daniele Siena, Banque de France
Global Liquidity, Cross-Border Banking, and Macro-Financial Stability in Emerging Markets
By Salih Fendoglu; Central Bank of the Republic of Turkey; Center for Economics and Econometri
presented by: Salih Fendoglu, Central Bank of the Republic of Turkey; Center for Economics and Econometri
Session: D05: Climate Change and Energy June 20, 2018 9:00 to 10:40 G.112 Necchi
Session Chair: Marek Antosiewicz, Warsaw School of Economics and Institute for Structural Research
Energy Transition, Technological Spillovers and the Elasticity of Substitution
By Chiara Colesanti Senni; ETH Zürich
presented by: Chiara Colesanti Senni, ETH Zürich
Exhaustible and Inexhaustible Resource Investment
By Hagen Schwerin; ETH Zurich
presented by: Hagen Schwerin, ETH Zurich
Short- vs long-run response of energy demand to change in prices
By Marek Antosiewicz; Warsaw School of Economics and Institute for Structural Research Jan Witajewski-Baltvilks; Institute for Structural Research
presented by: Marek Antosiewicz, Warsaw School of Economics and Institute for Structural Research
Session: D06: Financial Intermediation I June 20, 2018 9:00 to 10:40 G.113 Meda
Session Chair: Helene Desgagnes, Bank of Canada
Deposit Insurance and Financial Integration in the Eurozone: a DSGE Model.
By Corinne Dubois; EPFL
presented by: Corinne Dubois, EPFL
Private Credit Creation in the Modern Financial Market
By Tingting Zhu; Unversity of California, Davis
presented by: Tingting Zhu, Unversity of California, Davis
Financial Bubbles in Interbank Lending
By Tobias Schuler; ifo Institute Luisa Corrado; University of Rome Tor Vergata and University of Cambridge
presented by: Tobias Schuler, ifo Institute
The Rise of Non-Regulated Financial Intermediaries in the Housing Sector and its Macroeconomic Implications
By Helene Desgagnes; Bank of Canada
presented by: Helene Desgagnes, Bank of Canada
Session: D07: Long Run Trends June 20, 2018 9:00 to 10:40 G.114 Bisleti
Session Chair: Laurent Brembilla, Université d'Evry
Kaldor and Piketty's Facts: the Rise of Monopoly Power in the United States
By Gauti Eggertsson; Brown University Jacob Robbins; Brown University
presented by: Jacob Robbins, Brown University
Secular Stagnation under the Fear of a Government Debt Crisis
By Keiichiro Kobayashi; Keio University Kozo Ueda; Waseda University
presented by: Keiichiro Kobayashi, Keio University
Demographics, monetary policy and the zero lower bound
By Marcin Bielecki; University of Warsaw and Narodowy Bank Polski Michał Brzoza-Brzezina; Narodowy Bank Polski Marcin Kolasa; Narodowy Bank Polski
presented by: Marcin Bielecki, University of Warsaw and Narodowy Bank Polski
The demographics of structural change
By Laurent Brembilla; Université d'Evry
presented by: Laurent Brembilla, Université d'Evry
Session: D08: Evolutionary Modeling June 20, 2018 9:00 to 10:40 G.115 Ruffilli
Session Chair: Giulio Bottazzi, Scuola Superiore Sant'Anna
Best reply structure and equilibrium convergence in generic games
By Marco Pangallo; University of Oxford Torsten Heinrich; University of Oxford Doyne Farmer; University of Oxford
presented by: Marco Pangallo, University of Oxford
Residential Segregation: The Role of Inequality and Housing Subsidies
By Philipp Harting; Bielefeld University Davide Radi; University of Pisa
presented by: Davide Radi, University of Pisa
Manager Remuneration, Share Buybacks and Firm Performance
By Herbert Dawid; Bielefeld University Philipp Harting; Bielefeld University Sander van der Hoog; Bielefeld University
presented by: Philipp Harting, Bielefeld University
New Results on Betting Strategies and Market Selection
By Giulio Bottazzi; Scuola Superiore Sant'Anna Daniele Giachini; Scuola Superiore Sant'Anna
presented by: Giulio Bottazzi, Scuola Superiore Sant'Anna
Session: D09: Estimation and Forecasting June 20, 2018 9:00 to 10:40 G.117 Duns Scoto
Session Chair: Massimo Giovannini, European Commission
Forecasting and Policy Analysis with Trend-Cycle Bayesian VARs
By Michal Andrle; International Monetary Fund Jan Bruha; Czech National Bank
presented by: Michal Andrle, International Monetary Fund
Latent Variables and Real-Time Forecasting in DSGE Models with Occasionally Binding Constraints. Can Non-Linearity Improve Our Understanding of the Great Recession?
By Massimo Giovannini; European Commission Marco Ratto; European Commission - Joint Research Centre
presented by: Massimo Giovannini, European Commission
Estimating Nonlinear Dynamic Stochastic Decision Models: a Generalized Maximum Entropy Approach
By Yu Zheng; INRA Alexandre Gohin; INRA
presented by: Yu Zheng, INRA
Session: D11: Topics in Macro: Learning and Optimal Fiscal Policy June 20, 2018 9:00 to 10:40 G.120 S. Bonaventura
Session Chair: Giorgio Motta, Lancaster University
Inflation Puzzles in the New Keynesian Model: The Implications of Anchored Expectations
By Peter Lihn Jorgensen; Lund University Kevin Lansing; Federal Reserve Bank of San Francisco
presented by: Peter Lihn Jorgensen, Lund University
Public Information and Investment Dynamics
By Seungjun Baek; Florida State University Jonathan Kreamer; Florida State University
presented by: Seungjun Baek, Florida State University
Optimal Public Debt with Life Cycle Motives
By William Peterman; Federal Reserve Board of Governors Erick Sager; Bureau of Labor Statistics
presented by: William Peterman, Federal Reserve Board of Governors
Optimal Fiscal Policy with Consumption Taxation
By Giorgio Motta; Lancaster University Raffaele Rossi; University of Manchester
presented by: Giorgio Motta, Lancaster University
Session: D12: Housing Sector and the Macroeconomy June 20, 2018 9:00 to 10:40 G.122 C. Lombardo
Session Chair: Denis Gorea, European University Institute
Sharing is Caring: Homeownership Rates, Housing Policies, and Intra-Family Transfers
By Nils Grevenbrock; Deutsche Bundesbank
presented by: Nils Grevenbrock, Deutsche Bundesbank
Overborrowing and Information: Can two wrongs make a right?
By Carlos Rondon Moreno; University of Notre Dame Juan Herreno; Columbia University
presented by: Carlos Rondon Moreno, University of Notre Dame
Liquidity Constraints in the U.S. Housing Market
By Denis Gorea; European University Institute Virgiliu Midrigan; New York University
presented by: Denis Gorea, European University Institute
Session: E01: Machine Learning June 20, 2018 11:10 to 12:50 G.012 Pio XII
Session Chair: Lilia Maliar, Stanford University
Machine learning for dynamic incentive problems
By Philipp Renner; Lancaster University Simon Scheidegger; University of Zurich
presented by: Philipp Renner, Lancaster University
Gendered Language in the British Press
By Antonio Cabrales; University College London Manu Garcia; Fedea Luis Puch; Universidad Complutense de Madrid and ICAE
presented by: Luis Puch, Universidad Complutense de Madrid and ICAE
Deep Learning for Solving Dynamic Economic Models
By Lilia Maliar; Stanford University Serguei Maliar; Santa Clara University Pablo Winant; Bank of England
presented by: Pablo Winant, Bank of England
Machine Learning Projection Methods for Macro-Finance Models
By Alessandro Villa; Duke University Vytautas Valaitis; Duke University
presented by: Alessandro Villa, Duke University
Session: E02: Inflation Dynamics II June 20, 2018 11:10 to 12:50 G.013 Giovanni XXIII
Session Chair: Marco Del Negro, Federal Reserve Bank of New York
The Conquest of Inflation Credibility in the U.S. — A Bayesian Approach for Inference on Probabilistic Surveys
By Marco Del Negro; Federal Reserve Bank of New York Roberto Casarin; University Ca' Foscari of Venice
presented by: Marco Del Negro, Federal Reserve Bank of New York
Asymmetry, Complementarities, and Federal Reserve Forecasts
By Julieta Caunedo; Cornell University Riccardo DiCecio; Federal Reserve Bank of St. Louis Ivana Komunjer; Georgetown University Michael Owyang; Federal Reserve Bank of St Louis
presented by: Riccardo DiCecio, Federal Reserve Bank of St. Louis
Inflation dynamics during the Financial Crisis in Europe: cross-sectional identification of long-run inflation expectations
By Geraldine Dany-Knedlik; DIW Berlin Oliver Holtemöller; Martin-Luther-University Halle-Wittenberg and Halle Leibniz-Institute for Economic Research (IWH)
presented by: Geraldine Dany-Knedlik, DIW Berlin
The Empirical Validity of the Structural NKPC during the Great Recession
By Maral Kichian; University of Ottawa
presented by: Maral Kichian, University of Ottawa
Session: E03: Macroprudential in Network Models June 20, 2018 11:10 to 12:50 G.016 Maria Immacolata
Session Chair: Michele Catalano, Prometeia Associazione
Macro-prudential policies for the reduction of sistemic risk and liquidity hoarding in a macro ABM.
By Andrea Gurgone; Catholic University of Milan Giulia Iori; City University London Saqib Jafarey; City University
presented by: Andrea Gurgone, Catholic University of Milan
Credit Networks in DSGE models
By Michele Catalano; Prometeia Associazione
presented by: Michele Catalano, Prometeia Associazione
Monetary policy and prudential regulation in a hybrid AB-SFC model with heterogeneous expectations
By Severin Reissl; Università Cattolica del Sacro Cuore
presented by: Severin Reissl, Università Cattolica del Sacro Cuore
Session: E04: Secured and Unsercured Interbank Markets June 20, 2018 11:10 to 12:50 G.020 Ubaldi
Session Chair: Dilyara Salakhova, Banque de France & Univ of Paris West Nanterre
The Macroeconomic Impact of Money Market Disruptions
By Fiorella De Fiore; European Central Bank Marie Hoerova; European Central Bank Harald Uhlig; University of Chicago
presented by: Marie Hoerova, European Central Bank
Liquidity Risk and Funding Costs
By Alexander Bechtel; University of St. Gallen Angelo Ranaldo; University of St. Gallen
presented by: Alexander Bechtel, University of St. Gallen
Small is beautiful? The impact of joining low and high value payments in real time settlement
By Rogelio Andrade - Mancisidor; University of Tromso Biliana Alexandrova-Kabadjova; Banco de Mexico Miguel Gavilan - Rubio; University of Essex
presented by: Biliana Alexandrova-Kabadjova, Banco de Mexico
Interbank money markets and monetary policy implementation
By Thibaut Piquard; PSE, Banque de France Dilyara Salakhova; Banque de France & Univ of Paris West Nanterre
presented by: Dilyara Salakhova, Banque de France & Univ of Paris West Nanterre
Session: E05: Financial Markets-Banking June 20, 2018 11:10 to 12:50 G.112 Necchi
Session Chair: Yajun Xiao, University College Dublin
Till Mortgage Do Us Part: Refinancing Costs and Household’s Bank Switching
By Marianna Brunetti; University of Rome Tor Vergata Rocco Ciciretti; University of Rome Tor Vergata Ljubica Djordjevic; Goethe University
presented by: Marianna Brunetti, University of Rome Tor Vergata
What we touch touches us too: Reputation vs Information in Imitation-driven Financial Markets
By Alessio Emanuele Biondo; University of Catania
presented by: Alessio Emanuele Biondo, University of Catania
Tenure Choice, Portfolio Structure and Long-term Care - Optimal Risk Management in Retirement
By Hans Fehr; University of Wuerzburg Maurice Hofmann; University of Wuerzburg
presented by: Maurice Hofmann, University of Wuerzburg
Deposits and Off-balance Sheet Instruments, Bank Competition and Financial Fragility
By Yajun Xiao; University College Dublin
presented by: Yajun Xiao, University College Dublin
Session: E06: Trade and Stabilisation Policies June 20, 2018 11:10 to 12:50 G.113 Meda
Session Chair: Warwick McKibbin, Australian National University
The Extensive Margin of Trade and Monetary Policy
By Yuko Imura; Bank of Canada Malik Shukayev; University of Alberta
presented by: Malik Shukayev, University of Alberta
Trade Flows and Fiscal Multipliers
By Matteo Cacciatore; HEC Montreal Nora Traum; HEC Montreal
presented by: Nora Traum, HEC Montreal
Sovereign Wealth Fund and the Dutch Disease Effect
By Mohamed Tahar Benkhodja; ESSCA, school of Management
presented by: Mohamed Tahar Benkhodja, ESSCA, school of Management
Modelling the Economic Impacts of Korean Unification
By Jong-Wha Lee; Korea University Warwick McKibbin; Australian National University
presented by: Warwick McKibbin, Australian National University
Session: E07: Bounded Rationality and Learning I June 20, 2018 11:10 to 12:50 G.114 Bisleti
Session Chair: Tomohiro Tsuruga, Bank of Japan
Learning, house prices and macro-financial linkages
By Pauline Gandré
presented by: Pauline Gandré,
Shifting Inflation Expectations and Monetary Policy
By Agustin Arias; Central Bank of Chile Markus Kirchner; Central Bank of Chile
presented by: Agustin Arias, Central Bank of Chile
Evolving Beliefs and Animal Spirits in the Euro Area
By Nikolaos Charalampidis; University of California--Irvine Fabio Milani; University of California, Irvine
presented by: Fabio Milani, University of California, Irvine
Central Bank Communication on Inflation Target: The Value of Public Information under Unknown Priors
By Tatsushi Okuda; Bank of Japan Tomohiro Tsuruga; Bank of Japan
presented by: Tomohiro Tsuruga, Bank of Japan
Session: E08: Financial Markets June 20, 2018 11:10 to 12:50 G.115 Ruffilli
Session Chair: Silvio Contessi, Monash Business School
Mildly Explosive Dynamics in U.S. Fixed Income Markets
By Silvio Contessi; Monash Business School Pierangelo De Pace; Pomona College
presented by: Silvio Contessi, Monash Business School
The Effect of Monetary Policy on Global Fixed Income Covariances
By Paul Wohlfarth; Birkbeck, University of London
presented by: Paul Wohlfarth, Birkbeck, University of London
Why they keep missing: An empirical investigation of sovereign bond ratings and their timing
By Makram El-Shagi; Henan University Gregor von Schweinitz; Halle Institute for Economic Research
presented by: Gregor von Schweinitz, Halle Institute for Economic Research
A Randomized Missing Data Approach to Robust Filtering with Applications to Economics and Finance
By Dobrislav Dobrev; Federal Reserve Board of Governors Derek Hansen; Federal Reserve Board Pawel Szerszen; Federal Reserve Board of Governors
presented by: Dobrislav Dobrev, Federal Reserve Board of Governors
Session: E09: Financial Intermediation II June 20, 2018 11:10 to 12:50 G.117 Duns Scoto
Session Chair: Francesco Ferrante, Federal Reserve Board
The Role of Shadow Banking for Financial Regulation
By Stefan Gebauer; DIW Berlin Falk Mazelis; European Central Bank
presented by: Stefan Gebauer, DIW Berlin
Monetary Policy and Household (De-)leveraging
By Martin Harding; DIW Berlin Mathias Klein; DIW Berlin
presented by: Mathias Klein, DIW Berlin
Risk Pooling, Leverage Constraints and Business Cycle
By Pietro Dindo; Ca' Foscari University of Venice Andrea Modena; Ca' Foscari University of Venice Loriana Pelizzon; SAFE - Goethe University
presented by: Andrea Modena, Ca' Foscari University of Venice
Risky Lending, Bank Leverage and Unconventional Monetary Policy
By Francesco Ferrante; Federal Reserve Board
presented by: Francesco Ferrante, Federal Reserve Board
Session: E10: Expectations in Macroeconomics: Experimental Evidence June 20, 2018 11:10 to 12:50 G.119 S. Pio X
Session Chair: Jasmina Arifovic, Simon Fraser University
Asset Pricing when Long Horizon Forecasts Matter: a lab experiment
By George Evans; University of Oregon Cars Hommes; University of Amsterdam Bruce McGough; University of Oregon Isabelle Salle; Utrecht School of Economics
presented by: Isabelle Salle, Utrecht School of Economics
Macroeconomic Literacy and Expectations
By Luba Petersen; Simon Fraser University
presented by: Luba Petersen, Simon Fraser University
Are sunspots effective in a big crowd? – Evidence from a large-scale bank run experiment
By Jasmina Arifovic; Simon Fraser University Cars Hommes; University of Amsterdam Anita Kopányi-Peuker; University of Amsterdam Isabelle Salle; Utrecht School of Economics
presented by: Cars Hommes, University of Amsterdam
Are sunspots learnable in a dynamic, general equilibrium environment?
By Jasmina Arifovic; Simon Fraser University
presented by: Jasmina Arifovic, Simon Fraser University
Session: E11: Economics of Climate Change I June 20, 2018 11:10 to 12:50 G.120 S. Bonaventura
Session Chair: Steven Weller, University of Newcastle
Portfolio Bias in the Energy Sector
By Ibrahim Tahri; Potsdam Institute for Climate Impact Research (PIK)
presented by: Ibrahim Tahri, Potsdam Institute for Climate Impact Research (PIK)
Global Temperature, R&D Expenditure, and Growth
By Michael Donadelli; Goethe University Frankfurt Patrick Grüning; Bank of Lithuania and Vilnius University Marcus Jüppner; Deutsche Bundesbank Renatas Kizys; University of Portsmouth
presented by: Patrick Grüning, Bank of Lithuania and Vilnius University
Transboundary pollution with boundedly rational policymakers
By Giovanni Di Bartolomeo; Sapienza University of Rome Jacob Engwerda; Tilburg University Enrico Saltari; Università di Roma Willi Semmler; New School NY, University of Bielefeld
presented by: Giovanni Di Bartolomeo, Sapienza University of Rome
Natural Disaster Risk and the Distributional Dynamics of Damages: a Global Analysis
By Matteo Coronese; Scuola Superiore Sant'Anna Francesco Lamperti; Scuola Superiore Sant'Anna Francesca Chiaromonte; Scuola Superiore Sant'Anna, Pennsylvania State University Andrea Roventini; Scuola Superiore Sant'Anna
presented by: Matteo Coronese, Scuola Superiore Sant'Anna
Session: E12: Information and Expectations in Macro-finance Models June 20, 2018 11:10 to 12:50 G.122 C. Lombardo
Session Chair: Michael Donadelli, Goethe University Frankfurt
Explaining Bond and Equity Premium Puzzles Jointly in Macro-Finance Model
By Roman Horvath; Charles University Lorant Kaszab; Central Bank of Hungary Ales Marsal; National Bank of Slovakia
presented by: Lorant Kaszab, Central Bank of Hungary
Investment-Specific Shocks, Business Cycles, and Asset Prices
By Giuliano Curatola; Goethe University Frankfurt and SAFE Michael Donadelli; Goethe University Frankfurt Patrick Grüning; Bank of Lithuania and Vilnius University Christoph Meinerding; Deutsche Bundesbank
presented by: Michael Donadelli, Goethe University Frankfurt
Ambiguous Leverage Cycles
By Marzio Bassanin; LUISS Guido Carli and ECB Ester Faia; Goethe University Frankfurt Valeria Patella; Goethe University Frankfurt
presented by: Valeria Patella, Goethe University Frankfurt
Wealth Distribution and Macroeconomic Implications of Financial Policy
By Ivo Bakota; CERGE-EI, Czech Republic
presented by: Ivo Bakota, CERGE-EI, Czech Republic
Session: F01: Fiscal Policy II June 20, 2018 15:50 to 17:30 G.012 Pio XII
Session Chair: Yasin Mimir, Norges Bank
Default on Fiscal Promises and Government Credibility
By Alex Clymo; University of Essex Andrea Lanteri; Duke University Alessandro Villa; Duke University
presented by: Andrea Lanteri, Duke University
Sovereign Default Triggered by Incapability to Repay Debt under a Nonlinear Fiscal Policy Rule
By Michinao Okachi; Bank of Japan
presented by: Michinao Okachi, Bank of Japan
Transmission of Fiscal Stimulus in Small Open Economies: The Role of Finance Channel
By Yasin Mimir; Norges Bank Enes Sunel; Sunel & Sunel Law Firm
presented by: Yasin Mimir, Norges Bank
The Macroeconomic Effects of Income and Consumption Tax Changes
By Anh Nguyen; Bank of Lithuania Luisanna Onnis; University of Huddersfield Raffaele Rossi; University of Manchester
presented by: Raffaele Rossi, University of Manchester
Session: F02: Expectations and Economic Agents' Behavior June 20, 2018 15:50 to 17:30 G.122 C. Lombardo
Session Chair: Tatsuro Senga, Queen Mary University of London
Survey Expectations and Stock Price Theories
By Klaus Adam; University of Mannheim Dmitry Matveev; Bank of Canada Stefan Nagel; University of Chicago
presented by: Dmitry Matveev, Bank of Canada
Household Consumption and House Price Expectations
By Wei Qian; University of Notre Dame
presented by: Wei Qian, University of Notre Dame
Firm Expectations and Investment: Evidence from the China-Japan Island Dispute
By Tatsuro Senga; Queen Mary University of London
presented by: Tatsuro Senga, Queen Mary University of London
Euler Equations, Subjective Expectations and Income Shocks
By Krisztina Molnar; Norwegian School of Economics (NHH)
presented by: Krisztina Molnar, Norwegian School of Economics (NHH)
Session: F03: Financial Markets-Asset Pricing June 20, 2018 15:50 to 17:30 G.016 Maria Immacolata
Session Chair: Giulia Iori, City University London
Investment strategies, reversibility, and asymmetric information
By Xue Cui; Shenzhen University
presented by: Xue Cui, Shenzhen University
Are we better-off for working hard?
By Xuezhong (Tony) He; University of Technology Sydney Lei Shi; Macquarie University Marco Tolotti; Ca' Foscari University of Venice
presented by: Marco Tolotti, Ca' Foscari University of Venice
Financing and investment strategies under information asymmetry
By Takashi Shibata; Tokyo Metropolitan University Michi Nishihara; Osaka University
presented by: Takashi Shibata, Tokyo Metropolitan University
Trade Friction in Decentralized Markets: An Experimental Study
By Simone Alfarano; University Jaume I Giulia Iori; City University London Eva Camacho-Cuena; University Jaume I Albert Banal-Estañol; UPF and BGSE Burcu Kapar; American University in Dubai
presented by: Giulia Iori, City University London
Session: F04: Bounded Rationality and Learning II June 20, 2018 15:50 to 17:30 G.020 Ubaldi
Session Chair: Marco Airaudo, Drexel University, LeBow Business School
An approximation of the distribution of learning estimates in macroeconomic models
By Jaqueson Galimberti; ETH Zurich
presented by: Jaqueson Galimberti, ETH Zurich
Estimating Behavioral Learning Equilibria in DSGE Models
By Cars Hommes; University of Amsterdam Kostas Mavromatis; De Nederlandsche Bank Tolga Ozden; University of Amsterdam
presented by: Tolga Ozden, University of Amsterdam
Heterogeneous Beliefs, Investments and Growth
By Pietro Dindo; Ca' Foscari University of Venice Arianna Traini; Ca' Foscari University of Venice
presented by: Arianna Traini, Ca' Foscari University of Venice
Stochastic Consistent Expectations Equilibria in a Regime Switching Model of Inflation Determination
By Marco Airaudo; Drexel University, LeBow Business School Ina Hajdini; Drexel University
presented by: Marco Airaudo, Drexel University, LeBow Business School
Session: F05: Labor Market Issues in Open Economies June 20, 2018 15:50 to 17:30 G.112 Necchi
Session Chair: Janine Hart, University of Potsdam
Real exchange rate dynamics in New-Keynesian models – The Balassa-Samuelson effect revisited
By Maren Brede
presented by: Maren Brede,
Federal unemployment insurance: theory, and an application to Europe
By Philip Jung; TU Dortmund Keith Kuester; University of Bonn Marek Ignaszak; University of Bonn
presented by: Marek Ignaszak, University of Bonn
Heterogeneity, Rigidity and Convergence of Labor Markets in the Euro Area
By Jocelyn MAILLARD
presented by: Jocelyn MAILLARD,
A search and matching approach to business-cycle migration in the euro area
By Janine Hart; University of Potsdam Marius Clemens; German Institute for Economic Research (DIW Berlin)
presented by: Janine Hart, University of Potsdam
Session: F06: Economics of Climate Change II June 20, 2018 15:50 to 17:30 G.113 Meda
Session Chair: Elena Rovenskaya, IIASA, Vienna
Climate change, Government Debt, and Credit Risk in General Equilibrium
By Elmar Hillebrand; EEFA Institute
presented by: Elmar Hillebrand, EEFA Institute
When does a disaster become a systemic event? Estimating indirect economic losses from natural disasters
By Sebastian Poledna; International Institute for Applied Systems Analysis (IIASA) Stefan Hochrainer-Stigler; IIASA - International Institute for Appl Michael Miess; Complexity Science Hub Vienna Peter Klimek; Medical University of Vienna Stefan Schmelzer; Institute for Advanced Studies (IHS) Johannes Sorger; Complexity Science Hub Vienna Elena Shchekinova; International Institute for Applied Systems Analysis Elena Rovenskaya; IIASA, Vienna JoAnne Linnerooth-Bayer; International Institute for Applied Systems Analysis Ulf Dieckmann; International Institute for Applied Systems Analysis Stefan Thurner; Section for Science of Complex Systems Head
presented by: Michael Miess, Complexity Science Hub Vienna
The role of human capital and development for pollution control: an endogenous growth model
By Birgit Kirschbaum-Behl; University of Greifswald Susanne Soretz; University of Greifswald
presented by: Birgit Kirschbaum-Behl, University of Greifswald
Session: F07: Applied Macro-Finance June 20, 2018 15:50 to 17:30 G.114 Bisleti
Session Chair: Jochen Guentner, Johannes Kepler University Linz
Heterogeneous Effects of Housing Credit Policy
By Myroslav Pidkuyko; University of Manchester
presented by: Myroslav Pidkuyko, University of Manchester
Embedding financial cycle information in output gap estimation: A century perspective
By Anh Nguyen; Bank of Lithuania
presented by: Anh Nguyen, Bank of Lithuania
Noise-Ridden Lending Cycles
By Jochen Guentner; Johannes Kepler University Linz Elena Afanasyeva; Federal Reserve Board
presented by: Jochen Guentner, Johannes Kepler University Linz
Structural Estimation of Dynamic Macroeconomic Models using Higher-Frequency Financial Data
By Max Ole Liemen; Universität Hamburg Olaf Posch; Universität Hamburg Michel van der Wel; Erasmus University Rotterdam
presented by: Max Ole Liemen, Universität Hamburg
Session: F08: Volatility and Regime Change June 20, 2018 15:50 to 17:30 G.115 Ruffilli
Session Chair: Anastasia Zhutova, Banque de France
Financial Innovation and Macroeconomic Volatility: Evidence from a Markov Switching Structural Bayesian Vector Autoregression Model
By Tao Peng; Southwestern University of Finance and Economics
presented by: Tao Peng, Southwestern University of Finance and Economics
How does Monetary Policy Evolve? The Role of Money and Regime Switching
By Atanas Christev; Heriot-Watt University Junior Maih; Norges Bank
presented by: Atanas Christev, Heriot-Watt University
Monetary Policy Volatility Shocks in Brazil
By Angelo Fasolo; Banco Central do Brasil
presented by: Angelo Fasolo, Banco Central do Brasil
The Slope of the IS Curve: New Evidence
By Anastasia Zhutova; Banque de France
presented by: Anastasia Zhutova, Banque de France
Session: F09: Learning in Games and Markets June 20, 2018 15:50 to 17:30 G.117 Duns Scoto
Session Chair: Yaroslav Rosokha, Krannert School of Management
The effect of loyalty in the Kirman and Vriend (2001) fish market model
By Alex Possajennikov; University of Nottingham Dávid Kopányi; University of Amsterdam
presented by: Dávid Kopányi, University of Amsterdam
Prices vs. Returns in Learning-to-Forecast Experiments
By Nobuyuki Hanaki; Université Cote d'Azur Cars Hommes; University of Amsterdam Dávid Kopányi; University of Amsterdam Jan Tuinstra; University of Amsterdam
presented by: Jan Tuinstra, University of Amsterdam
Learning with Mixed Strategies in Repeated Games
By Yaroslav Rosokha; Krannert School of Management Julian Romero; University of Arizona
presented by: Yaroslav Rosokha, Krannert School of Management
Thompson Sampling: Endogenously Random Behavior in Games and Markets
By Felix Mauersberger; Universitat Pompeu Fabra & Barcelona GSE
presented by: Felix Mauersberger, Universitat Pompeu Fabra & Barcelona GSE
Session: F10: Migration, Business Cycle and Policy June 20, 2018 15:50 to 17:30 G.119 S. Pio X
Session Chair: Christoph Thoenissen, University of Sheffield
Integrating Forced Migrants in a Union of Diverging Regions: A Policy Assessment
By Philipp Harting; Bielefeld University Dirk Kohlweyer; Bielefeld University
presented by: Dirk Kohlweyer, Bielefeld University
An Open-Economy Analysis of the Distributional Implications of Migration: The Case of Germany and Poland
By Marius Bickmann; TU Dortmund
presented by: Marius Bickmann, TU Dortmund
Estimating the Impact of South African Child Support Grant using Genetic Algorithm and the entropy measure
By Adeola Oyenubi; University of the Witwatersrand
presented by: Adeola Oyenubi, University of the Witwatersrand
Migration and Business Cycle Dynamics
By Christie Smith; Reserve Bank of New Zealand Christoph Thoenissen; University of Sheffield
presented by: Christoph Thoenissen, University of Sheffield
Session: F11: Gender and Skills in the Labor Market June 20, 2018 15:50 to 17:30 G.120 S. Bonaventura
Session Chair: Lei Fang, Federal Reserve Bank of Atlanta
Evolution of Gender Differences in Labor Market Outcomes
By Pooyan Amir-Ahmadi; University of Illinois at Urbana-Champai Christian Matthes; Federal Reserve Bank of Richmond Mu-Chun Wang; University of Hamburg
presented by: Mu-Chun Wang, University of Hamburg
Professional Careers, Promotions and Organizational Hierarchies in a Frictional Labour Market
By Herbert Dawid; Bielefeld University Mariya Mitkova; Bielefeld University Anna Zaharieva; Bielefeld University
presented by: Mariya Mitkova, Bielefeld University
Assessing the Impact of Informal Sector Employment on Young Less-Educated Workers
By Javier Cano-Urbina; Florida State University John Gibson; Georgia State University
presented by: John Gibson, Georgia State University
Social Subsidies and Marketization -- the Role of Gender and Skill
By Robert Duval-Hernandez; University of Cyprus Lei Fang; Federal Reserve Bank of Atlanta Rachel Ngai; London School of Economics
presented by: Lei Fang, Federal Reserve Bank of Atlanta
Session: F12: Technological Change June 20, 2018 15:50 to 17:30 G.013 Giovanni XXIII
Session Chair: Herbert Dawid, Bielefeld University
An AB-SFC Model of Induced Technical Change along Classical and Keynesian Lines
By Lucrezia Fanti; La Sapienza University of Rome
presented by: Lucrezia Fanti, La Sapienza University of Rome
Investment-specific Technical Change as a factor of Economic Growth
By Roberto Samaniego; George Washington University Juliana Yu Sun; Singapore Management University
presented by: Juliana Yu Sun, Singapore Management University
Innovation and Technological Locations of Firms: An Agent-based Approach
By Koki Oikawa; Waseda University Hiroshi Takahashi; Keio University
presented by: Koki Oikawa, Waseda University
On the under-coordination of early stage funding of innovations
By Herbert Dawid; Bielefeld University Antoine Mandel; University Paris1 Pantheon-Sorbonne
presented by: Herbert Dawid, Bielefeld University
Session: G01: International Macroeconomics June 21, 2018 9:00 to 10:40 G.012 Pio XII
Session Chair: Alessandro Barattieri, ESG UQAM
Capital Controls and Firm Performance: The Effects of the Chilean Encaje
By Eugenia Andreasen; Universidad de Santiago de Chile Sofia Bauducco; Central Bank of Chile Evangelina Dardati; Universidad Alberto Hurtado
presented by: Evangelina Dardati, Universidad Alberto Hurtado
Financial Crisis and Firm Entry in Small Open Economies
By Kristine Koponen; University of Helsinki
presented by: Kristine Koponen, University of Helsinki
Valuation Effect, Heterogeneous Investors and Home Bias
By Walter Bazan Palomino; Fordham University
presented by: Walter Bazan Palomino, Fordham University
Protectionism and the Business Cycle
By Alessandro Barattieri; Collegio Carlo Alberto and ESG UQAM Matteo Cacciatore; HEC Montreal Fabio Ghironi; University of Washington
presented by: Alessandro Barattieri, ESG UQAM
Session: G02: Validation of Agent-Based Models June 21, 2018 9:00 to 10:40 G.013 Giovanni XXIII
Session Chair: Sylvain Barde, University of Kent
Transfer Calibration for Agent-Based Models
By Rama Cont; Imperial College London Amir Sani; Imperial College London
presented by: Amir Sani, Imperial College London
A Multivariate Extension of the Markov Information Criterion
By Sylvain Barde; University of Kent
presented by: Sylvain Barde, University of Kent
The formation of customer-supplier relationships: evidence from Japan
By Philipp Mundt; University of Bamberg Yoshiyuki Arata; The Research Institute of Economy, Trade and Industry
presented by: Philipp Mundt, University of Bamberg
On the Estimation of Behavioral Macroeconomic Models via Simulated Maximum Likelihood
By Jiri Kukacka; Charles University, Faculty of Social Sciences Tae-Seok Jang; Kyungpook National University Stephen Sacht; University of Kiel
presented by: Jiri Kukacka, Charles University, Faculty of Social Sciences
Session: G03: Forecasting June 21, 2018 9:00 to 10:40 G.016 Maria Immacolata
Session Chair: Claudia Foroni, Deutsche Bundesbank
Comparing predictive accuracy in small samples using fixed-smoothing asymptotics
By Laura Coroneo; University of York Fabrizio Iacone; University of York
presented by: Laura Coroneo, University of York
Mixed frequency models with MA components
By Claudia Foroni; Deutsche Bundesbank Massimiliano Marcellino; Bocconi University Dalibor Stevanovic; Université du Québec à Montréal
presented by: Claudia Foroni, Deutsche Bundesbank
A Horse Race in High Dimensional Space
By paolo andreini; Tor vergata Univeristy
presented by: paolo andreini, Tor vergata University
Forecasting with FAVAR: Macroeconomic versus Financial Factors
By Alessia Paccagnini; University College Dublin
presented by: Alessia Paccagnini, University College Dublin
Session: G04: Monetary Unions June 21, 2018 9:00 to 10:40 G.020 Ubaldi
Session Chair: Christian Proebsting, EPFL
Sustainable Policy Equilibria in a Monetary Union
By Tatiana Kirsanova; University of Glasgow Celsa Machado; ISCAP Ana Paula Ribeiro; CEF.UP, Faculdade de Economia do Porto
presented by: Tatiana Kirsanova, University of Glasgow
Unconventional monetary policy in a monetary union
By Johanna Krenz; Humboldt-Universität zu Berlin
presented by: Johanna Krenz, Humboldt-Universität zu Berlin
Unemployment Insurance Union
By Marius Clemens; German Institute for Economic Research (DIW Berlin) Guillaume Claveres; Universite Paris 1 Pantheon-Sorbonne
presented by: Marius Clemens, German Institute for Economic Research (DIW Berlin)
The Benefits of Labor Mobility in a Currency Union
By Christopher House; University of Michigan Christian Proebsting; EPFL Linda Tesar; University of Michigan
presented by: Christian Proebsting, EPFL
Session: G05: Economics of Innovation June 21, 2018 9:00 to 10:40 G.112 Necchi
Session Chair: Hwan C. Lin, University of North Carolina at Charlotte
Corporate Governance, Managerial Compensation, and Disruptive Innovations
By Murat Celik; University of Toronto Xu Tian; University of Toronto
presented by: Murat Celik, University of Toronto
Firm Growth through New Establishments
By Dan Cao; Georgetown University Toshihiko Mukoyama; University of Virginia Erick Sager; Bureau of Labor Statistics
presented by: Erick Sager, Bureau of Labor Statistics
Vertical Innovation, Foreign Direct Investment and Asymmetric Imitation: A Welfare Analysis of Intellectual Property Protection
By Hwan C. Lin; University of North Carolina at Charlotte
presented by: Hwan C. Lin, University of North Carolina at Charlotte
How much Keynes and how much Schumpeter? An Estimated Macromodel of the US Economy
By Guido Cozzi; University of St. Gallen Beatrice Pataracchia; European Commission - Joint Research Centre Philipp Pfeiffer; Technische Universität Berlin & European Commission DG ECFIN Marco Ratto; European Commission - Joint Research Centre
presented by: Philipp Pfeiffer, Technische Universität Berlin & European Commission DG ECFIN
Session: G06: Business Cycles June 21, 2018 9:00 to 10:40 G.113 Meda
Session Chair: Giovanni Di Bartolomeo, Sapienza University of Rome
Business Cycle Asymmetry and Unemployment Rate Forecasts
By John Galbraith; McGill University Simon van Norden; HEC Montréal
presented by: Simon van Norden, HEC Montréal
Synchronization Patterns in the European Union
By Mattia Guerini; OFCE - SciencesPo Duc Thi Luu; University of Kiel and OFCE-SciencesPo Mauro Napoletano; OFCE-Sciences Po
presented by: Mattia Guerini, OFCE - SciencesPo
New evidence on the synchronisation between the US business and financial cycles
By Maddalena Cavicchioli; University of Verona Catherine Kyrtsou; University of Macedonia Christina Mikropoulou; University of Macedonia
presented by: Christina Mikropoulou, University of Macedonia
Worker Heterogeneity and the Asymmetric Effects of Minimum Wages
By Jose Luis Luna Alpizar; CERGE-EI
presented by: Jose Luis Luna Alpizar, CERGE-EI
Session: G07: Macroeconomic Experiments June 21, 2018 9:00 to 10:40 G.114 Bisleti
Session Chair: Te Bao, Nanyang Technological University
Planar Beauty Contests
By Mikhail Anufriev; University of Technology Sydney John Duffy; University of California, Irvine Valentyn Panchenko; University of New South Wales
presented by: Mikhail Anufriev, University of Technology Sydney
Improving Dynamic Optimization in Life-Cycle Consumption Experiments
By Guidon Fenig; University of Saskatchewan Luba Petersen; Simon Fraser University
presented by: Guidon Fenig, University of Saskatchewan
Planar Learning to Forecast Market Games
By Myrna Hennequin; University of Amsterdam Cars Hommes; University of Amsterdam Eva Levelt; University of Amsterdam
presented by: Eva Levelt, University of Amsterdam
CEO Incentives and Stock Price Dynamics: An Experimental Approach
By Te Bao; Nanyang Technological University Edward Halim; Nanyang Technological University Charles Noussair; University of Arizona Yohanes Riyanto; Nanyang Technological University
presented by: Te Bao, Nanyang Technological University
Session: G08: Information Choice June 21, 2018 9:00 to 10:40 G.115 Ruffilli
Session Chair: Jiri Slacalek, European Central Bank
Disentangling the Information and Forward Guidance Effect of Monetary Policy Announcements on the Economy
By Lars Other; Friedrich-Schiller-University Jena
presented by: Lars Other, Friedrich-Schiller-University Jena
Heterogenous Information Choice in General Equilibrium
By Tobias Broer; Stockholm University Alexandre Kohlhas; Institute for International Economic Studies, Stockholm University Kurt Mitman; IIES Kathrin Schlafmann; Institute for International Economic Stu
presented by: Kathrin Schlafmann, Institute for International Economic Studies
Endogenous Participation, Risk, and Learning in the Stock Market
By Michael Shin; University of California, Irvine
presented by: Michael Shin, University of California, Irvine
Sticky Expectations and Consumption Dynamics
By Christopher Carroll; The Johns Hopkins University Edmund Crawley; Johns Hopkins University Jiri Slacalek; European Central Bank Kiichi Tokuoka; Ministry of Finance Matthew White; University of Delaware
presented by: Jiri Slacalek, European Central Bank
Session: G09: Labor and Demographics June 21, 2018 9:00 to 10:40 G.117 Duns Scoto
Session Chair: Francois Langot, GAINS
The Interaction of Rents and Wages when Labour is Mobile Across Regions and Subject to Matching Frictions
By Stephen Byrne; Central Bank of Ireland Matija Lozej; Central Bank of Ireland Paul Reddan; Central Bank of Ireland
presented by: Matija Lozej, Central Bank of Ireland
How the Baby Boomers’ Retirement Wave Distorts Model-Based Output Gap Estimates
By Maik Wolters; University of Jena
presented by: Maik Wolters, University of Jena
Cross-Country Differences in Health and Health Expenditures
By Francois Langot; GAINS
presented by: Francois Langot, GAINS
Voting on Education and Redistribution Policies in the U.S: Does Endogenous Fertility Matter?
By Vera Tolstova; CERGE-EI
presented by: Vera Tolstova, CERGE-EI
Session: G10: Expectations: Experiments with Human Subjects June 21, 2018 9:00 to 10:40 G.119 S. Pio X
Session Chair: Luca Riccetti, University of Macerata
Higher-order beliefs and overweighting of public information: an experimental study
By Alba Ruiz-Buforn; Universitat Jaume I Simone Alfarano; University Jaume I Eva Camacho-Cuena; University Jaume I
presented by: Alba Ruiz-Buforn, Universitat Jaume I
HOW LONG-RUN EXPECTATIONS REACT TO AN INCREASING FUNDAMENTAL PRICE: AN EXPERIMENTAL INVESTIGATION
By Simone Alfarano; University Jaume I Eva Camacho-Cuena; University Jaume I Annarita Colasante; Universitat Jaume I
presented by: Annarita Colasante, Universitat Jaume I
Are asymmetric behaviours rational? An empirical experiment on higher moments of the expected return distribution.
By Annarita Colasante; University Jaume I Luca Riccetti; University of Macerata
presented by: Luca Riccetti, University of Macerata
Session: G11: Global Imbalances: Theory and Policy June 21, 2018 9:00 to 10:40 G.120 S. Bonaventura
Session Chair: Brigitte Hochmuth, Friedrich-Alexander University Erlangen-Nuremberg (FAU)
Interest Rates, Revealed Preferences, and the Open Economy
By Adam Gulan; Bank of Finland
presented by: Adam Gulan, Bank of Finland
Selective Sovereign Defaults
By Enrico Mallucci; Federal Reserve Board
presented by: Enrico Mallucci, Federal Reserve Board
Fiscal Devaluations: The Role of Government Expenditures
By Qingyuan Du; Columbia University Pedro Gomis-Porqueras; Deakin University Solmaz Moslehi; Monash University Chung Tran; Australian National University
presented by: Solmaz Moslehi, Monash University
Global Imbalances, LaborMarket Reforms and Precautionary Savings
By Brigitte Hochmuth; Friedrich-Alexander University Erlangen-Nuremberg (FAU) Stephane Moyen; Deutsche Bundesbank Nikolai Stähler; Deutsche Bundesbank
presented by: Brigitte Hochmuth, Friedrich-Alexander University Erlangen-Nuremberg (FAU)
Session: G12: Economic Dynamics June 21, 2018 9:00 to 10:40 G.122 C. Lombardo
Session Chair: gustavo aggio, university of campinas
The Dynamics of Hotel Pricing
By John Rust; Georgetown University Sungjin Cho; Seoul National University
presented by: Sungjin Cho, Seoul National University
Human Capital Obsolescence and Dynamics of Precautionary Savings
By Danial Ali Akbari; Lund University
presented by: Danial Ali Akbari, Lund University
Market Stability with Machine Learning Agents
By Christophre Georges; Hamilton College Javier Pereira; Hamilton College
presented by: Javier Pereira, Hamilton College
Empathic evolution in an altruism-oriented voting
By gustavo aggio; university of campinas Rosangela Ballini; University of Campinas
presented by: gustavo aggio, university of campinas
Session: H01: Econ-Developers Summit June 21, 2018 11:10 to 12:50 G.012 Pio XII
Session Chair: Robert Kirkby, Victoria University of Wellington
Discussion session -- brief description
By Robert Kirkby; Victoria University of Wellington
presented by: Robert Kirkby, Victoria University of Wellington
The Econ-ARK project
By Christopher Carroll; The Johns Hopkins University
presented by: Christopher Carroll, The Johns Hopkins University
Publishing economic software: perspectives and challenges
By Fedor Iskhakov; Australian National University
presented by: Fedor Iskhakov, Australian National University
"HetSol" Toolkit
By Michael Reiter; Institute for Advanced Studies
presented by: Michael Reiter, Institute for Advanced Studies
Session: H02: Macroeconomics June 21, 2018 11:10 to 12:50 G.122 C. Lombardo
Session Chair: Dongya Koh, University of Arkansas
Constrained Inefficiency over the Life-cycle
By Dongya Koh; University of Arkansas
presented by: Dongya Koh, University of Arkansas
Computer Adoption and the Changing Labor Market
By Miguel Morin; University of Cambridge Filip Rozsypal; Danmarks Nationalbank
presented by: Filip Rozsypal, Danmarks Nationalbank
Idiosyncratic shocks and the role of granularity in business cycle
By Tatsuro Senga; Queen Mary University of London Iacopo Varotto; Queen Mary University of London
presented by: Iacopo Varotto, Queen Mary University of London
Sovereign Default with Partial Commitment
By Joost Roettger; University of Cologne
presented by: Joost Roettger, University of Cologne
Session: H03: Impulse and Propagation June 21, 2018 11:10 to 12:50 G.016 Maria Immacolata
Macro and Micro Level Impulse Responses: A Survey Experimental Identification Procedure
By Matthias Bannert; ETH Zurich Dirk Drechsel; ETH Zurich Heiner Mikosch; ETH Zurich
presented by: Samad Sarferaz, ETH Zurich
Time-varying housing supply elasticities and US housing cycles
By Knut Are Aastveit; Norges Bank Bruno Albuquerque; Ghent University Andre Anundsen; Norges Bank
presented by: Bruno Albuquerque, Ghent University
Financial imbalances, crisis probability and monetary policy in Norway
By Ørjan Robstad; Norges Bank Ragna Alstadheim; Norges Bank
presented by: Ørjan Robstad, Norges Bank
Session: H04: Modeling Infrequent Structural Change in Macroeconomics June 21, 2018 11:10 to 12:50 G.020 Ubaldi
Session Chair: Guido Ascari, University of Oxford
Generalized stability of monetary unions under regime switching in monetary and fiscal policies
By Dennis Bonam; De Nederlandsche Bank Bart Hobijn; Arizona State University
presented by: Dennis Bonam, De Nederlandsche Bank
Estimating Macroeconomic Models of Financial Crises: An Endogenous Regime Switching Approach
By Gianluca Benigno; London School of Economics Andrew Foerster; Federal Reserve Bank of Kansas City Christopher Otrok; University of Missouri Alessandro Rebucci; The Johns Hopkins Carey Business School
presented by: Christopher Otrok, University of Missouri
Controlling inflation with timid monetary-fiscal regime changes
By Guido Ascari; University of Oxford Anna Florio; Politecnico di milano Alessandro Gobbi; Università Cattolica del Sacro Cuore
presented by: Guido Ascari, University of Oxford
Session: H05: Empirical Macro II June 21, 2018 11:10 to 12:50 G.112 Necchi
Session Chair: Enisse Kharroubi, Bank for International Settlement
Uncertainty and Financial Stability: \\a VAR Analysis
By Dario Caldara; Federal Reserve Board Chiara Scotti; Federal Reserve Board
presented by: Dario Caldara, Federal Reserve Board
Monetary Policy Framework and Information Effect: Evidence from Japanese Data
By Ko Munakata; Bank of Japan Hiroyuki Oi; Bank of Japan Yoichi Ueno; Bank of Japan
presented by: Ko Munakata, Bank of Japan
Working for Workers? The Effect of Government Spending Shocks on the Labor Share of Income.
By Cristiano Cantore; University of Surrey Lukas Freund; University of Oxford Giovanni Melina; International Monetary Fund
presented by: Lukas Freund, University of Oxford
Monetary Policy, Factor Allocation and Growth
By Ryan Banerjee; BIS Enisse Kharroubi; Bank for International Settlement Fabrizio Zampolli; Bank for International Settlements
presented by: Enisse Kharroubi, Bank for International Settlement
Session: H06: Macroprudential and Monetary Policy and Natural Interest Rate June 21, 2018 11:10 to 12:50 G.113 Meda
Session Chair: Marien Ferdinandusse, European Central Bank
Capital Controls, Macroprudential Regulation, and the Bank Balance Sheet Channel
By Shigeto Kitano; Kobe University Kenya Takaku; Hiroshima City University
presented by: Shigeto Kitano, Kobe University
Uncertainty about QE effects when an interest rate peg is anticipated
By Rafael Gerke; Deutsche Bundesbank Sebastian Giesen; Deutsche Bundesbank Daniel Kienzler; Deutsche Bundesbank
presented by: Daniel Kienzler, Deutsche Bundesbank
Financial Factors and the Natural Rate of Interest Puzzle
By Josselin Roman; Paris-Dauphine University Gauthier Vermandel; Paris-Dauphine & PSL Universities
presented by: Josselin Roman, Paris-Dauphine University
Quantitative Easing and the Price-Liquidity Trade-Off
By Annukka Ristiniemi; Sveriges Riksbank Marien Ferdinandusse; European Central Bank Maximilian Freier; ECB
presented by: Marien Ferdinandusse, European Central Bank
Session: H07: Agent-based Models, Herding and Opinion Formation June 21, 2018 11:10 to 12:50 G.114 Bisleti
Session Chair: Ernesto Carrella, University of Oxford
Herding, minority game, market clearing and efficient markets in a simple spin model framework
By Ladislav Kristoufek; Czech Academy of Sciences Miloslav Vošvrda; Academy of Sciences of the Czech Republic
presented by: Ladislav Kristoufek, Czech Academy of Sciences
Selecting Information in Financial Markets: Herding and Opinion Swings in a Heterogeneous Mimetic Rational Agent-based model
By Aymeric Vié; Sciences Po Saint-Germain-en-Laye
presented by: Aymeric Vié, Sciences Po Saint-Germain-en-Laye
Opinion formation under bounded confidence with finitely-lived agents
By Matjaz Steinbacher; Kiel Institute for the World Economy Mitja Steinbacher; Faculty of Business Studies Matej Steinbacher; Specta
presented by: Mitja Steinbacher, Faculty of Business Studies
Estimation and model selection of agent-based models by custom error functions
By Ernesto Carrella; University of Oxford
presented by: Ernesto Carrella, University of Oxford
Session: H08: Macroeconomic agent-based models June 21, 2018 11:10 to 12:50 G.115 Ruffilli
Session Chair: Alexey Ponomarenko, Bank of Russia
The effect of technological and trade regimes upon international differentiation and catching up: results from a multi-country agent-based model
By Giovanni Dosi; Scuola Superiore Sant'Anna Andrea Roventini; Scuola Superiore Sant'Anna Emanuele Russo; Pavia Institute for Advanced Studies
presented by: Emanuele Russo, Pavia Institute for Advanced Studies
Absorptive capacity in a two-sector neo-Schumpeterian model.
By Isabel Almudi; University of Zaragoza Francisco Fatas-Villafranca; University of Zaragoza
presented by: Francisco Fatas-Villafranca, University of Zaragoza
Debunking the Granular Origins of Aggregate Fluctuations: The Evidence and a Model
By Giovanni Dosi; Scuola Superiore Sant'Anna Mauro Napoletano; OFCE-Sciences Po Andrea Roventini; Scuola Superiore Sant'Anna Tania Treibich; Maastricht University
presented by: Tania Treibich, Maastricht University
Foreign exchange reserves accumulation: forecasting implications for the banking system’s balance sheet
By Alexey Ponomarenko; Bank of Russia Sergei Seleznev; Bank of Russia
presented by: Alexey Ponomarenko, Bank of Russia
Session: H09: Monetary Policy Under Heterogeneous Expectations June 21, 2018 11:10 to 12:50 G.117 Duns Scoto
Session Chair: Alex Grimaud, Utrecht University
Managing expectations at the ZLB through Forward Guidance: an experiment in a new-Keynesian model with multiple steady states
By Alex Grimaud; Utrecht University Isabelle Salle; University of Amsterdam Gauthier Vermandel; Paris-Dauphine & PSL Universities Jasmina Arifovic; Simon Fraser University
presented by: Alex Grimaud, Utrecht University
Animal Spirits, Risk Premia and Monetary Policy at the Zero Lower Bound
By Christian Proaño; University of Bamberg
presented by: Christian Proaño, University of Bamberg
Optimal Constrained Interest-Rate Rules under Heterogeneous Expectations
By Emanuel Gasteiger; Freie Universität Berlin
presented by: Emanuel Gasteiger, Freie Universität Berlin
Monetary and Fiscal Policy in an Expectation Driven Liquidity Trap
By Joep Lustenhouwer; Otto-Friedrich-Universität Bamberg
presented by: Joep Lustenhouwer, Otto-Friedrich-Universität Bamberg
Session: H10: Expectations and Social Influence June 21, 2018 11:10 to 12:50 G.119 S. Pio X
Session Chair: Herbert Dawid, Bielefeld University
Tax Compliance and Tax Morale: An Agent-Based Model Approach
By Fernando Garcia Alvarado; Ca' Foscari University of Venice Paolo Pellizzari; University of Venice
presented by: Fernando Garcia Alvarado, Ca' Foscari University of Venice
Effort Choice in a Stag-Hunt Game with Social Influence Dynamics
By Jasmina Arifovic; Simon Fraser University Herbert Dawid; Bielefeld University Mariam Nanumyan; Bielefeld University
presented by: Mariam Nanumyan, Bielefeld University
Some strategic foundations of random network formation processes
By Antoine Mandel; University Paris1 Pantheon-Sorbonne Xavier Venel; University Toulouse 1
presented by: Antoine Mandel, University Paris1 Pantheon-Sorbonne
The Wisdom of the Crowd in Dynamic Economies
By Pietro Dindo; Ca' Foscari University of Venice Filippo Massari; University of New South Wales
presented by: Pietro Dindo, Ca' Foscari University of Venice
Session: H11: Advances in Search June 21, 2018 11:10 to 12:50 G.120 S. Bonaventura
Session Chair: Mirko Abbritti, Universidad de Navarra
Inflationary Redistribution vs. Trading Opportunities: Estimated Cost of Inflation in a Monetary Model with Non-degenerate Distribution
By Timothy Kam; Australian National University Junsang Lee; Sungkyunkwan University
presented by: Timothy Kam, Australian National University
Dynamic and Stochastic Search Equilibrium
By Camilo Morales-Jimenez; Board of Governors of the Federal Reserve System
presented by: Camilo Morales-Jimenez, Board of Governors of the Federal Reserve System
Trade Contracts, Bargaining and Export Dynamics
By Mirko Abbritti; Universidad de Navarra Ivan Kim; NCID Tommaso Trani; Universidad de Navarra
presented by: Mirko Abbritti, Universidad de Navarra
Session: I01: New Insights on the Effective Lower Bound June 21, 2018 16:00 to 17:40 G.012 Pio XII
Session Chair: Martin Seneca, Bank of England
The paradox of global thrift
By Federica Romei; Stockholm School of Economics
presented by: Federica Romei, Stockholm School of Economics
Attenuating the Forward Guidance Puzzle: Implications for Optimal Monetary Policy
By Taisuke Nakata; Federal Reserve Board Sebastian Schmidt; European Central Bank
presented by: Taisuke Nakata, Federal Reserve Board
Are Negative Nominal Interest Rates Expansionary?
By Gauti Eggertsson; Brown University Ragnar Juelsrud; BI Norwegian Business School Ella Wold; Brown University
presented by: Ragnar Juelsrud, BI Norwegian Business School
Monetary policy options in a 'low for long' era
By Richard Harrison; Bank of England Martin Seneca; Bank of England Matthew Waldron; Bank of England
presented by: Martin Seneca, Bank of England
Session: I02: Climate Change Policy June 21, 2018 16:00 to 17:40 G.013 Giovanni XXIII
Session Chair: Francesco Lamperti, Scuola Superiore Sant'Anna
And then He Was a She: Climate Change and Green Transition in an Agent-Based Integrated Assessment Model
By Francesco Lamperti; Scuola Superiore Sant'Anna
presented by: Francesco Lamperti, Scuola Superiore Sant'Anna
People-centric policies for decarbonization: Testing psycho-socio-economic approaches by an agent-based model of heterogeneous mobility demand
By Alperen Bektas; HES-SO Valais/Wallis Khoa Nguyen; HES-SO Valais/Wallis Valentino Piana; HES-SO Valais/Wallis René Schumann; HES-SO Valais/Wallis
presented by: Alperen Bektas, HES-SO Valais/Wallis
How to foster the transition to eco-friendly technologies? An agent-based macroeconomic analysis on directed technological change
By Kerstin Hötte; University of Bielefeld, Paris 1
presented by: Kerstin Hötte, University of Bielefeld, Paris 1
Session: I03: Fiscal Policy III June 21, 2018 16:00 to 17:40 G.016 Maria Immacolata
Session Chair: Ufuk Demirel, Congressional Budget Office
Public Spending Shocks, Systematic Monetary Policy, and the Consumption Crowding-In Puzzle
By Sebastian Rüth; Ghent University Camilla Simon; University of Wuerzburg
presented by: Sebastian Rüth, Ghent University
Could the U.S. Government Hire Its Way Out of a Recession?
By Stephen Nicar; Franklin & Marshall College
presented by: Stephen Nicar, Franklin & Marshall College
Labor Market Effects of Tax Changes Over the Business Cycle
By Ufuk Demirel; Congressional Budget Office
presented by: Ufuk Demirel, Congressional Budget Office
Cross-Border Risks in Eurozone Sovereign Bond Markets.
By Olivier Hubert; UNamur
presented by: Olivier Hubert, UNamur
Session: I04: Nonlinear Effects of Shocks June 21, 2018 16:00 to 17:40 G.020 Ubaldi
Session Chair: Michael Owyang, Federal Reserve Bank of St Louis
Non-linear effects of the financial cycle on fiscal multipliers
By André Casalis; University of York
presented by: André Casalis, University of York
The Nonlinear Effects of Uncertainty Shocks
By Laura Jackson Young; Bentley University Kevin Kliesen; Federal Reserve Bank of St. Louis Michael Owyang; Federal Reserve Bank of St Louis
presented by: Michael Owyang, Federal Reserve Bank of St Louis
Monetary Policy Uncertainty and the Response of the Yield Curve to Policy Shocks
By Peter Tillmann; Justus-Liebig-Universität Gießen
presented by: Peter Tillmann, Justus-Liebig-Universität Gießen
Does Wealth Inequality Affect the Transmission of Monetary Policy?
By Alexander Matusche; University of Mannheim Johannes Wacks; University of Mannheim
presented by: Alexander Matusche, University of Mannheim
Session: I05: Agent-based Macroeconomics June 21, 2018 16:00 to 17:40 G.112 Necchi
Session Chair: Mattia Guerini, OFCE - SciencesPo
Macroprudential analysis using an Agent-Based Macroeconomic Model for the Euro Area: AB-MEMEA
By Marco Gross; European Central Bank Björn Hilberg; European Central Bank Sander van der Hoog; Bielefeld University Dirk Kohlweyer; Bielefeld University
presented by: Sander van der Hoog, Bielefeld University
Balance-sheet based unconventional monetary policies in the Schumpeter meeting Keynes model
By Giovanni Dosi; Scuola Superiore Sant'Anna Mattia Guerini; OFCE - SciencesPo Francesco Lamperti; Scuola Superiore Sant'Anna Mauro Napoletano; OFCE-Sciences Po Andrea Roventini; Scuola Superiore Sant'Anna Tania Treibich; Maastricht University
presented by: Mauro Napoletano, OFCE-Sciences Po
If bad money drives out good money: deunionisation, productivity and wage dynamics
By Giovanni Dosi; Scuola Superiore Sant'Anna Marcelo C. Pereira; University of Campinas Andrea Roventini; Scuola Superiore Sant'Anna Maria Enrica Virgillito; Scuola Superiore Sant'Anna
presented by: Andrea Roventini, Scuola Superiore Sant'Anna
Be patient enough to wait what you deserve: bank's time horizons, borrowing constraints and the evolution of industries
By Jean-Luc Gaffard; OFCE Sciences Po Mattia Guerini; OFCE - SciencesPo Mauro Napoletano; OFCE-Sciences Po Lionel Nesta; Université Nice Sophia-Antipolis
presented by: Mattia Guerini, OFCE - SciencesPo
Session: I06: Uncertainty and Financial Crisis June 21, 2018 16:00 to 17:40 G.113 Meda
Session Chair: Eiji Okano, Nagoya City University
Uncertainty Shocks and Interest Rate Smoothing in a DSGE medium-scale model
By Stefano Fasani; University of Milan - Bicocca Lorenza Rossi; University of Pavia
presented by: Stefano Fasani, University of Milan - Bicocca
Financial Crises, Hysteresis and Monetary Policy
By Jae Sim; Federal Reserve Board Isabel Cairo; Board of Governors of the Federal Reserve System
presented by: Jae Sim, Federal Reserve Board
Mortgage Debt and Time-Varying Monetary Policy Transmission
By David Finck; Justus-Liebig University Giessen Jörg Schmidt; Justus-Liebig-Universität Gießen Peter Tillmann; Justus-Liebig-Universität Gießen
presented by: Jörg Schmidt, Justus-Liebig-Universität Gießen
Revisiting the Fiscal Theory of Sovereign Risk from a DSGE Viewpoint
By Eiji Okano; Nagoya City University Kazuyuki Inagaki; Nagoya City University
presented by: Eiji Okano, Nagoya City University
Session: I07: Macroeconomics and Monetary Policy June 21, 2018 16:00 to 17:40 G.114 Bisleti
Session Chair: Günter Coenen, European Central Bank
Resurrecting the New-Keynesian Model: (Un)conventional Policy and the Taylor rule
By Olaf Posch; Universität Hamburg
presented by: Olaf Posch, Universität Hamburg
Modeling the Asymmetric Effects of Oil Price Shocks
By Lance Bachmeier; Kansas State University Benjamin Keen; University of Oklahoma
presented by: Benjamin Keen, University of Oklahoma
The Global Multi-country Model (GM): an Estimated DGSE Model for the Euro Area Forecasts
By Olga Croitorov; European Commission -Joint Research Center Massimo Giovannini; European Commission Beatrice Pataracchia; European Commission - Joint Research Centre Marco Ratto; European Commission - Joint Research Centre Werner Roeger; European Comission Lukas Vogel; European Commission
presented by: Olga Croitorov, European Commission -Joint Research Center
The New Area-Wide Model II: An updated version of the ECB’s micro-founded model for forecasting and policy analysis with a financial sector
By Günter Coenen; European Central Bank Peter Karadi; European Central Bank Sebastian Schmidt; European Central Bank Anders Warne; European Central Bank
presented by: Günter Coenen, European Central Bank
Session: I08: Efficiency and the Complexity of Financial Markets June 21, 2018 16:00 to 17:40 G.115 Ruffilli
Session Chair: Claudio Tessone, Universität Zürich
A multifractality-based quantitative measure for financial market efficiency - Statistical inference and an application for the European Union Emissions Trading Scheme
By Marc Gronwald; University of Aberdeen Cristina Sattarhoff; University of Hamburg
presented by: Marc Gronwald, University of Aberdeen
High Frequency Market Making in an Agent-Based Model
By Joeri Schasfoort; University of Groningen
presented by: Joeri Schasfoort, University of Groningen
High-Frequency Trading: Does latency floor matter?
By Sandrine Jacob Leal; ICN Business School
presented by: Sandrine Jacob Leal, ICN Business School
The statstical properties of wealth accumulation in Cryptocurrency Economies
By Claudio Tessone; Universität Zürich
presented by: Claudio Tessone, Universität Zürich
Session: I09: Solution Methods for Solving Heterogeneous Agents Models June 21, 2018 16:00 to 17:40 G.117 Duns Scoto
Session Chair: Luca Mazzone, University of Zurich
On the Solution of Macroeconomic Models with Distributional Channels and Default Risk
By Luca Mazzone; University of Zurich
presented by: Luca Mazzone, University of Zurich
Exploiting Parallelism in Solving Models with Occasionally Binding Constraints on a High Performance Cluster
By Gary Anderson; Board of Governors, Federal Reserve
presented by: Gary Anderson, Board of Governors, Federal Reserve
A simple method for solving models with occasionally-binding constraints
By Michael Hatcher; University of Southampton
presented by: Michael Hatcher, University of Southampton
Approximate Aggregation in Dynamic Economies
By Karsten Chipeniuk; Reserve Bank of New Zealand Nets Katz; California Institute of Technology Todd Walker; Indiana University
presented by: Karsten Chipeniuk, Reserve Bank of New Zealand
Session: I10: Macroeconomic Policies and Inequality June 21, 2018 16:00 to 17:40 G.119 S. Pio X
Session Chair: Corrado Di Guilmi, University of Technology Sydney
Inequality and finance in a rent economy
By Alberto Botta; University of Pavia Eugenio Caverzasi; Università Politecnica delle Marche Mauro Gallegati; Universita Politecnica delle Marche Alberto Russo; Università Politecnica delle Marche Joseph Stiglitz; Columbia University
presented by: Alberto Russo, Università Politecnica delle Marche
Growth and Distribution with Endogenous Political Preferences
By Corrado Di Guilmi; University of Technology Sydney Giorgos Galanis; University of Warwick
presented by: Corrado Di Guilmi, University of Technology Sydney
Optimal interest rate rules under heterogeneous expectations and model-consistent welfare
By Tim Hagenhoff; University of Bamberg
presented by: Tim Hagenhoff, University of Bamberg
Economic forecasting with an agent-based model
By Michael Miess; Complexity Science Hub Vienna Sebastian Poledna; International Institute for Applied Systems Analysis (IIASA) Stefan Thurner; Section for Science of Complex Systems Head
presented by: Sebastian Poledna, International Institute for Applied Systems Analysis (IIASA)
Session: I12: Sources of Business Cycle Fluctuations June 21, 2018 16:00 to 17:40 G.122 C. Lombardo
Session Chair: Thomas Lubik, Federal Reserve Bank of Richmond
Vacancy Chains
By Michael Elsby; University of Edinburgh Ryan Michaels; Federal Reserve Bank of Philadelphia David Ratner; Federal Reserve Board
presented by: David Ratner, Federal Reserve Board
Labor Productivity and Inflation Dynamics: the Euro Area versus the US
By Vivien J. Lewis; KU Leuven Stefania Villa; Fellow at Banca d'Italia Maik Wolters; University of Jena
presented by: Stefania Villa, Fellow at Banca d'Italia
Taking Stock of TFP News Shocks: The Inventory Comovement Puzzle
By Christoph Gortz; University of Birmingham Christopher Gunn; Carleton University
presented by: Christopher Gunn, Carleton University
A Frequency-Based Analysis of the Sources of US Macroeconomic Fluctuations
By Thomas Lubik; Federal Reserve Bank of Richmond Christian Matthes; Federal Reserve Bank of Richmond Fabio Verona; Bank of Finland
presented by: Thomas Lubik, Federal Reserve Bank of Richmond