| November 13, 2025 | ||
|---|---|---|
| Time | Location | Event |
| 08:00 to 08:30 | Pianalto Auditorium |
Registration and Breakfast |
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| 08:30 to 10:00 | see below | Parallel Sessions |
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| 10:15 to 12:15 | Parallel Sessions | |
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| 12:15 to 14:00 | Pianalto Auditorium |
Lunch and Keynote Speech by Loukas Karabarbounis |
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| 14:00 to 16:00 | Parallel Sessions | |
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| 16:15 to 17:45 | Parallel Sessions | |
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| 17:45 to 19:45 | Pianalto Auditorium |
Reception |
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| November 14, 2025 | ||
| Time | Location | Event |
| 08:00 to 08:30 | Pianalto Auditorium |
Breakfast |
| | ||
| 08:30 to 10:00 | Parallel Sessions | |
| | ||
| 10:15 to 12:15 | Parallel Sessions | |
| | ||
| 12:15 to 14:00 | Pianalto Auditorium |
Lunch and Keynote Speech by Michele Tertilt |
| | ||
| 14:00 to 16:00 | Parallel Sessions | |
| | ||
| 16:15 to 17:45 | Parallel Sessions | |
| | ||
| 17:45 to 19:15 | Pianalto Auditorium |
Reception |
| | ||
| Parallel Sessions Locations: click on each session to see location November 13, 2025 08:30 to 10:00 | |
|---|---|
| Central Bank Communication and Monetary Policy, Cleveland Room | |
| Asset Pricing in Macro Models, Cincinnati Room A | |
| Import Tariffs, Cincinnati Room B | |
| Macroeconomics and Public Finance, Pittsburgh Room A | |
| Macroeconometrics, Pittsburgh Room B |
| Parallel Sessions Locations: click on each session to see location November 13, 2025 10:15 to 12:15 | |
|---|---|
| Inflation, Expectations, and Uncertainty, Cleveland Room | |
| Bank Funding and Monetary Policy, Cincinnati Room A | |
| Long-run Issues: Environment and Aging, Cincinnati Room B | |
| Labor Market Interactions with Policy, Pittsburgh Room A | |
| Social Insurance and Family, Pittsburgh Room B |
| Lunch and Keynote Speech by Loukas Karabarbounis Location: Pianalto Auditorium November 13, 2025 12:15 to 14:00 |
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| Parallel Sessions Locations: click on each session to see location November 13, 2025 14:00 to 16:00 | |
|---|---|
| Inflation and the Business Cycle, Cleveland Room | |
| Banking System and Lending, Cincinnati Room A | |
| Growth and Spatial issues, Cincinnati Room B | |
| Fiscal Policy and Public Debt, Pittsburgh Room A | |
| Firm Organization and Labor Markets, Pittsburgh Room B |
| Parallel Sessions Locations: click on each session to see location November 13, 2025 16:15 to 17:45 | |
|---|---|
| Fiscal and Monetary Policies, Cleveland Room | |
| Labor Market Sorting, Cincinnati Room A | |
| International Trade, Cincinnati Room B | |
| Social Security and Retirement, Pittsburgh Room A | |
| Market Structure and Firm Dynamics, Pittsburgh Room B |
| Parallel Sessions Locations: click on each session to see location November 14, 2025 08:30 to 10:00 | |
|---|---|
| Expectations, Uncertainty, and the Macroeconomy, Cleveland Room | |
| International Finance, Cincinnati Room A | |
| Health, Labor Supply, and Savings, Cincinnati Room B | |
| Sovereign Default, Pittsburgh Room A | |
| Labor Market Fluctuations, Pittsburgh Room B |
| Parallel Sessions Locations: click on each session to see location November 14, 2025 10:15 to 12:15 | |
|---|---|
| Firm Heterogeneity and Monetary Policy, Cleveland Room | |
| Technology and Growth, Cincinnati Room A | |
| Urban Economics, Cincinnati Room B | |
| Tax Reforms and Insurance, Pittsburgh Room A | |
| Income and Wealth Dynamics, Pittsburgh Room B |
| Lunch and Keynote Speech by Michele Tertilt Location: Pianalto Auditorium November 14, 2025 12:15 to 14:00 |
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| Parallel Sessions Locations: click on each session to see location November 14, 2025 14:00 to 16:00 | |
|---|---|
| Sovereign Debt and Monetary Policy, Cleveland Room | |
| Firms' Financing Frictions, Cincinnati Room A | |
| Life-Cycle Models and Household Finance, Cincinnati Room B | |
| Corporate Finance, Pittsburgh Room A | |
| Public Finance and Heterogeneity, Pittsburgh Room B |
| Parallel Sessions Locations: click on each session to see location November 14, 2025 16:15 to 17:45 | |
|---|---|
| Heterogeneity and the Business Cycle, Cleveland Room | |
| Wage Determination, Cincinnati Room A | |
| Uneven Growth, Cincinnati Room B | |
| Supply Chain Networks, Pittsburgh Room A | |
| Quantitative Methods: Local Projections and Counterfactuals, Pittsburgh Room B |
Summary of All Sessions |
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Click here for an index of all participants |
| # | Date/Time | Title/Location | Papers |
|---|---|---|---|
| 1 | November 13, 2025 8:30-10:00 | Central Bank Communication and Monetary Policy Location: Cleveland Room | 3 |
| 2 | November 13, 2025 8:30-10:00 | Asset Pricing in Macro Models Location: Cincinnati Room A | 3 |
| 3 | November 13, 2025 8:30-10:00 | Import Tariffs Location: Cincinnati Room B | 3 |
| 4 | November 13, 2025 8:30-10:00 | Macroeconomics and Public Finance Location: Pittsburgh Room A | 3 |
| 5 | November 13, 2025 8:30-10:00 | Macroeconometrics Location: Pittsburgh Room B | 3 |
| 6 | November 13, 2025 10:15-12:15 | Inflation, Expectations, and Uncertainty Location: Cleveland Room | 4 |
| 7 | November 13, 2025 10:15-12:15 | Bank Funding and Monetary Policy Location: Cincinnati Room A | 4 |
| 8 | November 13, 2025 10:15-12:15 | Long-run Issues: Environment and Aging Location: Cincinnati Room B | 4 |
| 9 | November 13, 2025 10:15-12:15 | Labor Market Interactions with Policy Location: Pittsburgh Room A | 4 |
| 10 | November 13, 2025 10:15-12:15 | Social Insurance and Family Location: Pittsburgh Room B | 4 |
| 11 | November 13, 2025 14:00-16:00 | Inflation and the Business Cycle Location: Cleveland Room | 4 |
| 12 | November 13, 2025 14:00-16:00 | Banking System and Lending Location: Cincinnati Room A | 4 |
| 13 | November 13, 2025 14:00-16:00 | Growth and Spatial issues Location: Cincinnati Room B | 4 |
| 14 | November 13, 2025 14:00-16:00 | Fiscal Policy and Public Debt Location: Pittsburgh Room A | 4 |
| 15 | November 13, 2025 14:00-16:00 | Firm Organization and Labor Markets Location: Pittsburgh Room B | 4 |
| 16 | November 13, 2025 16:15-17:45 | Fiscal and Monetary Policies Location: Cleveland Room | 3 |
| 17 | November 13, 2025 16:15-17:45 | Labor Market Sorting Location: Cincinnati Room A | 3 |
| 18 | November 13, 2025 16:15-17:45 | International Trade Location: Cincinnati Room B | 3 |
| 19 | November 13, 2025 16:15-17:45 | Social Security and Retirement Location: Pittsburgh Room A | 3 |
| 20 | November 13, 2025 16:15-17:45 | Market Structure and Firm Dynamics Location: Pittsburgh Room B | 3 |
| 21 | November 14, 2025 8:30-10:00 | Expectations, Uncertainty, and the Macroeconomy Location: Cleveland Room | 3 |
| 22 | November 14, 2025 8:30-10:00 | International Finance Location: Cincinnati Room A | 3 |
| 23 | November 14, 2025 8:30-10:00 | Health, Labor Supply, and Savings Location: Cincinnati Room B | 3 |
| 24 | November 14, 2025 8:30-10:00 | Sovereign Default Location: Pittsburgh Room A | 3 |
| 25 | November 14, 2025 8:30-10:00 | Labor Market Fluctuations Location: Pittsburgh Room B | 3 |
| 26 | November 14, 2025 10:15-12:15 | Firm Heterogeneity and Monetary Policy Location: Cleveland Room | 4 |
| 27 | November 14, 2025 10:15-12:15 | Technology and Growth Location: Cincinnati Room A | 4 |
| 28 | November 14, 2025 10:15-12:15 | Urban Economics Location: Cincinnati Room B | 4 |
| 29 | November 14, 2025 10:15-12:15 | Tax Reforms and Insurance Location: Pittsburgh Room A | 4 |
| 30 | November 14, 2025 10:15-12:15 | Income and Wealth Dynamics Location: Pittsburgh Room B | 4 |
| 31 | November 14, 2025 14:00-16:00 | Sovereign Debt and Monetary Policy Location: Cleveland Room | 4 |
| 32 | November 14, 2025 14:00-16:00 | Firms' Financing Frictions Location: Cincinnati Room A | 4 |
| 33 | November 14, 2025 14:00-16:00 | Life-Cycle Models and Household Finance Location: Cincinnati Room B | 4 |
| 34 | November 14, 2025 14:00-16:00 | Corporate Finance Location: Pittsburgh Room A | 4 |
| 35 | November 14, 2025 14:00-16:00 | Public Finance and Heterogeneity Location: Pittsburgh Room B | 4 |
| 36 | November 14, 2025 16:15-17:45 | Heterogeneity and the Business Cycle Location: Cleveland Room | 3 |
| 37 | November 14, 2025 16:15-17:45 | Wage Determination Location: Cincinnati Room A | 3 |
| 38 | November 14, 2025 16:15-17:45 | Uneven Growth Location: Cincinnati Room B | 3 |
| 39 | November 14, 2025 16:15-17:45 | Supply Chain Networks Location: Pittsburgh Room A | 3 |
| 40 | November 14, 2025 16:15-17:45 | Quantitative Methods: Local Projections and Counterfactuals Location: Pittsburgh Room B | 3 |
40 sessions, 140 papers, and 0 presentations with no associated papers |
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Fall 2025 Midwest Macroeconomics Meeting |
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Detailed List of Sessions |
| Session 1: Central Bank Communication and Monetary Policy November 13, 2025 8:30 to 10:00 Location: Cleveland Room |
|---|
| Session Chair: Yuchen Chen, University of Illinois at Urbana Champaign |
| Speaking of Inflation: The Influence of Fed Speeches on Expectations |
| Presented by: Eleonora Granziera, Norges Bank |
| Market's Time-Varying Sensitivity to Macro News and Monetary Policy: the Role of Attention |
| Presented by: Xueliang Wang, University of California, Irvine |
| Monetary Policy, Diagnostic Expectations, and Customer Capital |
| Presented by: Yuchen Chen, University of Illinois at Urbana Champaign |
| Session 2: Asset Pricing in Macro Models November 13, 2025 8:30 to 10:00 Location: Cincinnati Room A |
| Session Chair: Zachary Stangebye, University of Notre Dame |
| Labor-based asset pricing |
| Presented by: Vladimir Smirnyagin, University of Virginia |
| Sovereign Default and Labor Market Dynamics |
| Presented by: Hewei Shen, University of Oklahoma |
| Risk-aversion or inter temporal substitutability? Rethinking emerging market debt pricing |
| Presented by: Zachary Stangebye, University of Notre Dame |
| Session 3: Import Tariffs November 13, 2025 8:30 to 10:00 Location: Cincinnati Room B |
| Session Chair: Ji Hye Heo, Oberlin College |
| Incomplete Tariff Pass-Through at the Firm-level: Evidence from the U.S.-China Trade Dispute |
| Presented by: Chang Liu, Stony Brook University |
| Tariff Policy with an Exorbitant Privilege |
| Presented by: Roozbeh Hosseini, University of Georgia |
| Export Dynamics with Product Proximity |
| Presented by: Ji Hye Heo, Oberlin College |
| Session 4: Macroeconomics and Public Finance November 13, 2025 8:30 to 10:00 Location: Pittsburgh Room A |
| Session Chair: Eva Carceles-Poveda, Stony Brook |
| Optimal Redistribution Policy with Labor Market Monopsony |
| Presented by: Yena Park, Seoul National University |
| The Rise of Pass-throughs: A Quantitative Exploration |
| Presented by: Sebastian Dyrda, University of Toronto |
| On the Taxation of Private Retirement Wealth |
| Presented by: Eva Carceles-Poveda, Stony Brook |
| Session 5: Macroeconometrics November 13, 2025 8:30 to 10:00 Location: Pittsburgh Room B |
| Session Chair: Alessia Scudiero, Emory University |
| Long-lag VARs |
| Presented by: Andreas Westermark, Sveriges Riksbank |
| How Well Are State-Dependent Local Projections Capturing the Nonlinearity? |
| Presented by: Zhiheng You, University of Pennsylvania |
| Impulse Response Functions in Time Varying VARs: A Clustered Local Projections Approach |
| Presented by: Alessia Scudiero, Emory University |
| Session 6: Inflation, Expectations, and Uncertainty November 13, 2025 10:15 to 12:15 Location: Cleveland Room |
| Session Chair: Giuseppe Fiori, Board of Governors of the Federal Reserv |
| Long-run Inflation Expectations |
| Presented by: Jonas Fisher, Federal Reserve Bank of Chicago |
| State-Dependent Sticky Expectations: Evidence and Theory |
| Presented by: Kenneth Eva, University of Pennsylvania |
| Belief Distortions and Uncertainty about Inflation |
| Presented by: Valeria Patella, Sapienza University Rome |
| The Effects of Uncertainty on Firms’ Pricing Behavior and Activity |
| Presented by: Giuseppe Fiori, Board of Governors of the Federal Reserv |
| Session 7: Bank Funding and Monetary Policy November 13, 2025 10:15 to 12:15 Location: Cincinnati Room A |
| Session Chair: Nicole Fleskes, Rice University |
| The Effect of Monetary Policy on Systemic Bank Funding Stability |
| Presented by: Maximilian Grimm, University of Bonn |
| The Uninsured Deposit Premium |
| Presented by: Tim Schmidt-Eisenlohr, Federal Reserve Board of Governors |
| Banking and Monetary Policy with Central Bank Digital Currency |
| Presented by: Ayse Sapci, Utah State University |
| Liquidity Crises and Endogenous Dealer Capacity in Over-the-Counter Markets |
| Presented by: Nicole Fleskes, Rice University |
| Session 8: Long-run Issues: Environment and Aging November 13, 2025 10:15 to 12:15 Location: Cincinnati Room B |
| Session Chair: Eric Huang, International Monetary Fund |
| The Aggregate Green Elasticity of Substitution |
| Presented by: Rui Sousa, Northwestern University |
| Spillovers and the Direction of Innovation: An Application to the Clean Energy Transition |
| Presented by: Eric Donald, University of Pittsburgh |
| Higher Education Policies and Spatial Inequality Across US States |
| Presented by: Sang Min Lee, University of South Carolina |
| A Silver Lining in the Silver Economy: Macroeconomic Implications of Healthy Aging |
| Presented by: Eric Huang, International Monetary Fund |
| Session 9: Labor Market Interactions with Policy November 13, 2025 10:15 to 12:15 Location: Pittsburgh Room A |
| Session Chair: Serdar Birinci, Federal Reserve Bank of Saint Louis |
| An Information-based Theory of Monopsony Power |
| Presented by: Anton Cheremukhin, Federal Reserve Bank of Dallas |
| Signals, Interviews, and Hiring in Labor Market Equilibrium |
| Presented by: Ryan Michaels, Federal Reserve Bank of Philadelphia |
| The Labor Demand and Labor Supply Channels of Monetary Policy |
| Presented by: Christopher Huckfeldt, Board of Governors of the Federal Reserve |
| The Implications of Labor Market Heterogeneity on Unemployment Insurance Design |
| Presented by: Serdar Birinci, Federal Reserve Bank of Saint Louis |
| Session 10: Social Insurance and Family November 13, 2025 10:15 to 12:15 Location: Pittsburgh Room B |
| Session Chair: Yongsung Chang, Bank of Korea and Seoul National University |
| Automated Credit Limit Increases and Consumer Welfare |
| Presented by: Patrick Moran, Federal Reserve Board, CEBI, and IFS |
| Low-Income Support and Human Capital: A Long-Run Analysis of EITC Reforms |
| Presented by: Irina Popova, University of Bonn |
| Income Pooling and Within Household Risk-Sharing: Evidence from Data on Individual Expenditures |
| Presented by: Sara Casella, Luiss University, EIEF |
| Spousal Labor Response to Primary Income: Identification and Heterogeneity |
| Presented by: Yongsung Chang, Bank of Korea and Seoul National University |
| Session 11: Inflation and the Business Cycle November 13, 2025 14:00 to 16:00 Location: Cleveland Room |
| Session Chair: Antoine Lepetit, Board of Governors of the Federal Reserve |
| New Keynesian Economics through the Extensive Margin |
| Presented by: Akira Ishide, The University of Tokyo |
| Rationing Under Sticky Prices |
| Presented by: Tom Holden, Deutsche Bundesbank |
| Reconciling Wage and Price Phillips Curves |
| Presented by: David Osten, Johns Hopkins University |
| Inflation dynamics without the independence assumption |
| Presented by: Antoine Lepetit, Board of Governors of the Federal Reserve |
| Session 12: Banking System and Lending November 13, 2025 14:00 to 16:00 Location: Cincinnati Room A |
| Session Chair: Nicholas Yi, Michigan State University |
| Official Lending and Self-Fulfilling Debt Crises |
| Presented by: Sanghwa Moon, The Ohio State University |
| Debt Flexibility |
| Presented by: Margaret Jacobson, Federal Reserve Board |
| A Quantitative Model of Bank Mergers |
| Presented by: Charles Smith, University of Wisconsin-Madison |
| Supply Chains and Banking Structures in the Macroeconomy |
| Presented by: Nicholas Yi, Michigan State University |
| Session 13: Growth and Spatial issues November 13, 2025 14:00 to 16:00 Location: Cincinnati Room B |
| Session Chair: Tommaso Bighelli, Bank of England |
| R&D Subsidies and the Geography of Innovation |
| Presented by: Alexandre Sollaci, International Monetary Fund |
| Industrial Specialization and Regional Growth |
| Presented by: Lukas Boehnert, |
| Financial Development and Endogenous Investment-Specific Technical Change |
| Presented by: Daeeun Bae, |
| The Contribution of Declining Corporate taxes to deindustrialization |
| Presented by: Tommaso Bighelli, Bank of England |
| Session 14: Fiscal Policy and Public Debt November 13, 2025 14:00 to 16:00 Location: Pittsburgh Room A |
| Session Chair: Filippo Occhino, Kennesaw State University |
| Debt, Inflation, and Government Reputation |
| Presented by: Alberto Ramirez de Aguilar, Banco de México |
| Fiscal Policy, Portfolio Frictions, and International Transmission |
| Presented by: Marcos Mac Mullen, Federal Reserve Board |
| Public Debt and Interest Rates |
| Presented by: Erick Sager, Federal Reserve Board |
| Investment Expensing Without Tax Credits or Interest Deductibility: A Macroeconomic Evaluation |
| Presented by: Filippo Occhino, Kennesaw State University |
| Session 15: Firm Organization and Labor Markets November 13, 2025 14:00 to 16:00 Location: Pittsburgh Room B |
| Session Chair: Anni Isojaervi, Federal Reserve Board |
| Internal Meets External: the Role of Promotion in the Labor Market |
| Presented by: Xinyi Peng, University of Wisconsin-Madison |
| Implications of Narrow Framing for Firm Dynamics |
| Presented by: Haoran Wang, University of Maryland |
| External and Internal Markets for Managers |
| Presented by: Gabriel Toledo, Purdue University |
| Are earnings inequality and firm concentration connected? Evidence from an assignment model |
| Presented by: Anni Isojaervi, Federal Reserve Board |
| Session 16: Fiscal and Monetary Policies November 13, 2025 16:15 to 17:45 Location: Cleveland Room |
| Session Chair: Alex Houtz, University of Notre Dame |
| Sticky Inflation: Monetary Policy when Debt Drags Inflation Expectations |
| Presented by: Dejanir Silva, Purdue University |
| Does Unconventional Monetary and Fiscal Policy Contribute to the COVID Inflation Surge? |
| Presented by: Yinxi Xie, Indiana University, Bloomington |
| How Government Debt Shocks Impact the Economy |
| Presented by: Alex Houtz, University of Notre Dame |
| Session 17: Labor Market Sorting November 13, 2025 16:15 to 17:45 Location: Cincinnati Room A |
| Session Chair: Luke Rawling, Queen's University |
| Who Competes for Whom? Monopsony in Ability-Based Segmented Labor Markets |
| Presented by: Luca Lorenzini, UCLA Anderson |
| Sorting into Entrepreneurial Teams |
| Presented by: Luca Mazzone, CERGE-EI |
| Networks, Sorting, and the Productivity Implications of Immigrant Assimilation |
| Presented by: Luke Rawling, Queen's University |
| Session 18: International Trade November 13, 2025 16:15 to 17:45 Location: Cincinnati Room B |
| Session Chair: Enrico Cristoforoni, |
| Capital Accumulation, Trade, and China’s Economic Rise |
| Presented by: Marla Ripoll, University of Pittsburgh |
| Breaking the Chain: Supply Chain Disruptions and Terms-of-Trade Amplification |
| Presented by: Pedro Simon, University of Illinois at Urbana-Champaign |
| International Prices, Domestic Wages, and Labor Market Power |
| Presented by: Enrico Cristoforoni, |
| Session 19: Social Security and Retirement November 13, 2025 16:15 to 17:45 Location: Pittsburgh Room A |
| Session Chair: Selahattin Imrohoroglu, University of Southern California |
| Revisiting Retirement and Social Security Claiming Decisions |
| Presented by: Kathleen McKiernan, Vanderbilt University |
| Early Access to Social Security Wealth: A Welfare Analysis |
| Presented by: Carla Moreno, Loyola Marymount University |
| Aging, Population Projections, and Public Pensions |
| Presented by: Selahattin Imrohoroglu, University of Southern California |
| Session 20: Market Structure and Firm Dynamics November 13, 2025 16:15 to 17:45 Location: Pittsburgh Room B |
| Session Chair: Geumbi Park, Texas A&M University |
| Employment effects, minimum wage and oligopsonistic competition |
| Presented by: Horacio Rueda, University of Houston |
| The Aggregate Welfare Effects of Nonlinear Prices in Supply Chains |
| Presented by: Antonio Martner, UCLA |
| Product Market Dynamics over the Business Cycle |
| Presented by: Geumbi Park, Texas A&M University |
| Session 21: Expectations, Uncertainty, and the Macroeconomy November 14, 2025 8:30 to 10:00 Location: Cleveland Room |
| Session Chair: Yeji Sung, Federal Reserve Bank of San Francisco |
| The effect of inflation uncertainty on household expectations and spending |
| Presented by: Olena Kostyshyna, Bank of Canada |
| Dissecting Trade Uncertainty |
| Presented by: Sai Ma, Federal Reserve Board |
| Recency Effects in Perceived Uncertainty |
| Presented by: Yeji Sung, Federal Reserve Bank of San Francisco |
| Session 22: International Finance November 14, 2025 8:30 to 10:00 Location: Cincinnati Room A |
| Session Chair: Daniel Sanches, Federal Reserve Bank of Philadelphia |
| Currency Basket Co-movements |
| Presented by: Andrey Ermolov, Fordham University |
| U.S. Liquid Government Liabilities and Emerging Market Capital Flows |
| Presented by: Annie Lee, Johns Hopkins University |
| Stablecoins and Cross-Border Finance |
| Presented by: Daniel Sanches, Federal Reserve Bank of Philadelphia |
| Session 23: Health, Labor Supply, and Savings November 14, 2025 8:30 to 10:00 Location: Cincinnati Room B |
| Session Chair: Svetlana Pashchenko, University of Georgia |
| Health Capital, Labor Market Frictions, and Wage Inequality |
| Presented by: Mengxi Wan, University of Wisconsin-Madison |
| An Evaluation of Social Security Reforms: Policy Substitution and Redistributive Consequences |
| Presented by: Soojin Kim, Georgia State University |
| Saving Motives over the Life-Cycle |
| Presented by: Svetlana Pashchenko, University of Georgia |
| Session 24: Sovereign Default November 14, 2025 8:30 to 10:00 Location: Pittsburgh Room A |
| Session Chair: Gabriel Mihalache, Ohio State University |
| Public and Private Investment Under Sovereign Risk |
| Presented by: Juliana Gamboa-Arbelaez, University of Minnesota |
| Informality, Fiscal Policy, and Sovereign Default |
| Presented by: Sihyun Kim, Washington University in Saint Louis |
| World Financial Cycles and Global Trade |
| Presented by: Gabriel Mihalache, Ohio State University |
| Session 25: Labor Market Fluctuations November 14, 2025 8:30 to 10:00 Location: Pittsburgh Room B |
| Session Chair: Kathrin Ellieroth, Colby College |
| Resurrecting High Discounts and High Unemployment |
| Presented by: Pierlauro Lopez, Federal Reserve Bank of Cleveland |
| Heterogeneous Beliefs and Cyclical Labor Market Dynamics |
| Presented by: Jenny Siqin Ding, University of Maryland |
| Quits, Layoffs, and Labor Supply |
| Presented by: Kathrin Ellieroth, Colby College |
| Session 26: Firm Heterogeneity and Monetary Policy November 14, 2025 10:15 to 12:15 Location: Cleveland Room |
| Session Chair: Julien Weber, NYU |
| Beyond Costs: The Dominant Role of Strategic Complementarities in Pricing |
| Presented by: Marco Rojas, Banco Central de Chile |
| Rationally Inattentive Seller: The Geographic Dispersion of U.S. Retail Chains and its Aggregate Implications |
| Presented by: Edson Wu, Federal Reserve Board |
| The Inventory Decelerator for Monetary Policy |
| Presented by: Wentao Zhou, Michigan State University |
| Monetary policy, industry leaders, and growth |
| Presented by: Julien Weber, NYU |
| Session 27: Technology and Growth November 14, 2025 10:15 to 12:15 Location: Cincinnati Room A |
| Session Chair: Nasir Hossein Dad, Boise State University |
| Trimming the Tree to Help It Grow: Selective Exit and Productivity Growth in China’s State Sector |
| Presented by: Yutong Zhong, University of Minnesota |
| Self-Selection and the Diminishing Returns of Research |
| Presented by: Kai-Jie Wu, Pennsylvania State University |
| Does Monopsony Matter for Innovation? |
| Presented by: Nils Lehr, International Monetary Fund |
| Lobbying, Innovation and Aggregate Productivity |
| Presented by: Nasir Hossein Dad, Boise State University |
| Session 28: Urban Economics November 14, 2025 10:15 to 12:15 Location: Cincinnati Room B |
| Session Chair: John Mondragon, Federal Reserve Bank of San Francisco |
| United in Booms, Divided in Busts: Regional House Price Cycles and Monetary Policy |
| Presented by: Hannes Twieling, University of Mannheim |
| Geospatial Heterogeneity in Inflation: A Market Concentration Story |
| Presented by: Michael Navarrete, Federal Reserve Bank of Atlanta |
| Home Size, Residential Density, and Aggregate Demand |
| Presented by: Daniel Murphy, University of Virginia |
| Supply Constraints do not Explain House Price and Quantity Growth Across U.S. Cities |
| Presented by: Schuyler Louie, UC Irvine |
| Session 29: Tax Reforms and Insurance November 14, 2025 10:15 to 12:15 Location: Pittsburgh Room A |
| Session Chair: Joao Ayres, Inter-American Development Bank |
| The Insurance Value of Public Insurance Against Idiosyncratic Income Risk |
| Presented by: Rocio Madera, Southern Methodist University |
| Optimal Unemployment Insurance with Costly Self-Control |
| Presented by: Zoe Xie, World Bank |
| Designing Optimal Progressive Taxation under Hours Constraints |
| Presented by: Kitae Cho, University of Virginia |
| Labor Income Tax Progressivity with a Large Informal Sector |
| Presented by: Joao Ayres, Inter-American Development Bank |
| Session 30: Income and Wealth Dynamics November 14, 2025 10:15 to 12:15 Location: Pittsburgh Room B |
| Session Chair: Lichen Zhang, University of Hong Kong |
| Racial Differences in Consumption and Saving Behavior: New Survey Evidence and Quantitative Theory of Status Signaling |
| Presented by: Aina Puig, American University |
| The Role of Parental Altruism in Parents Consumption, College Financial Support, and Outcomes in Higher Education |
| Presented by: Agustin Diaz, Central Bank of Chile |
| Self-Employment Dynamics and the Great Recession |
| Presented by: Jiani Liu, The Ohio State University |
| When Meritocracy Fails: College Expansion and the Rise of Intergenerational Persistence |
| Presented by: Lichen Zhang, University of Hong Kong |
| Session 31: Sovereign Debt and Monetary Policy November 14, 2025 14:00 to 16:00 Location: Cleveland Room |
| Session Chair: Joseph Abadi, Federal Reserve Bank of Philadelphia |
| The Macroeconomic Effects of Sovereign Risk: New Evidence from U.S. Debt Ceiling Episodes |
| Presented by: Dario Cardamone, University of Notre Dame |
| Trade Credit, Risk Sharing, and International Spillovers of US Monetary Policy |
| Presented by: Mariana Sans, University of Maryland |
| Volatile Rates, Fragile Growth: Global Financial Risk and Productivity Dynamics |
| Presented by: Nils Mattis Gornemann, Federal Reserve Board |
| International Currency Dominance |
| Presented by: Joseph Abadi, Federal Reserve Bank of Philadelphia |
| Session 32: Firms' Financing Frictions November 14, 2025 14:00 to 16:00 Location: Cincinnati Room A |
| Session Chair: Hyein Han, New York University |
| Financial frictions, technological adoption, and corporate emissions |
| Presented by: German Villegas Bauer, IMF |
| Maturity Walls |
| Presented by: Philip Coyle, Study Center Gerzensee |
| Good Inflation, Bad Inflation, and the Dynamics of Credit Risk |
| Presented by: Ram Yamarthy, Federal Reserve Board of Governors |
| Granular Firms and Endogenous Risk Premia |
| Presented by: Hyein Han, New York University |
| Session 33: Life-Cycle Models and Household Finance November 14, 2025 14:00 to 16:00 Location: Cincinnati Room B |
| Session Chair: Neha Bairoliya, University of Southern California |
| Why Do Households Save and Work? |
| Presented by: Johanna Torres Chain, University of Minnesota |
| Dynamic Racial Wealth Inequality Accounting, 1860 – 2020 |
| Presented by: Teegawende Zeida, Brock University |
| Social Security and Racial Disparities |
| Presented by: Shabnam Shahrezaei, Emory University |
| End-of-Life Liquidity |
| Presented by: Neha Bairoliya, University of Southern California |
| Session 34: Corporate Finance November 14, 2025 14:00 to 16:00 Location: Pittsburgh Room A |
| Session Chair: Daniele Coen-Pirani, University of Pittsburgh |
| Implications of Market Power for Financial Frictions |
| Presented by: Mahdi Ebsim, New York University |
| Firm Heterogeneity and Adverse Selection in External Finance: Micro Evidence and Macro Implications |
| Presented by: Xing Guo, Bank of Canada |
| Trade credit in a developing country: the role of large suppliers in the production network |
| Presented by: Mauro Cazzaniga, MIT Sloan |
| Do Mergers Increase Markups? Evidence from U.S. Public Firms |
| Presented by: Daniele Coen-Pirani, University of Pittsburgh |
| Session 35: Public Finance and Heterogeneity November 14, 2025 14:00 to 16:00 Location: Pittsburgh Room B |
| Session Chair: Thomas Bourany, Columbia University |
| Universal Basic Income in an Entrepreneurial Economy |
| Presented by: Farouk Awal, University of Calgary |
| Climate Change and International Migration |
| Presented by: Mauricio Barbosa-Alves, University of Kentucky |
| Paying Students to Graduate from High School: Aggregate and Distributive Consequences |
| Presented by: Leonardo Lima, |
| Climate Change, Inequality and Optimal Climate Policy |
| Presented by: Thomas Bourany, Columbia University |
| Session 36: Heterogeneity and the Business Cycle November 14, 2025 16:15 to 17:45 Location: Cleveland Room |
| Session Chair: Giovanni Sciacovelli, Northwestern University |
| Which US States Suffered a Greater Great Depression and Why? |
| Presented by: Mario Crucini, Purdue University |
| Tradeoffs for the poor, divine coincidence for the rich |
| Presented by: Donggyu Lee, Federal Reserve Bank of New York |
| Monetary Policy Transmission Through Adjustable-Rate Mortgages in the Euro Area |
| Presented by: Giovanni Sciacovelli, Northwestern University |
| Session 37: Wage Determination November 14, 2025 16:15 to 17:45 Location: Cincinnati Room A |
| Session Chair: Hie Joo Ahn, Federal Reserve Board |
| Learning on the Job |
| Presented by: William Jungerman, University of North Carolina, Chapel Hill |
| Wage Adjustment: A Network Approach |
| Presented by: Kanat Isakov, University of Maryland |
| Latent Worker Dynamics and Wage Changes: A Pocket of Vulnerability |
| Presented by: Hie Joo Ahn, Federal Reserve Board |
| Session 38: Uneven Growth November 14, 2025 16:15 to 17:45 Location: Cincinnati Room B |
| Session Chair: Adam Spencer, University of Bonn |
| One Production Function |
| Presented by: Nick Pretnar, University of California, Santa Barbara |
| Ready, Set, Unify: The Uneven Race between Trabants and BMWs |
| Presented by: Matthias Mertens, Massachusetts Institute of Technology |
| Heterogeneous Firms, Growth and the Long Shadows of Business Cycles |
| Presented by: Adam Spencer, University of Bonn |
| Session 39: Supply Chain Networks November 14, 2025 16:15 to 17:45 Location: Pittsburgh Room A |
| Session Chair: Yasutaka Koike-Mori, University of North Carolina at Chapel Hill |
| Endogenous Supplier Sourcing under Supply Chain Risk and its Macro Implications |
| Presented by: Manchun Wang, Boston College |
| On the Importance of Manufacturing Order Books |
| Presented by: Bjarne Horst, University of Mannheim |
| Production Networks and R&D Misallocation |
| Presented by: Yasutaka Koike-Mori, University of North Carolina at Chapel Hill |
| Session 40: Quantitative Methods: Local Projections and Counterfactuals November 14, 2025 16:15 to 17:45 Location: Pittsburgh Room B |
| Session Chair: Joaquin Garcia-Cabo, Federal Reserve Board |
| Computation of Policy Counterfactuals in Sequence Space |
| Presented by: Fabian Winkler, Federal Reserve Board |
| Projected Local Projections |
| Presented by: Sean McCrary, Ohio State University |
| Expanding the Labor Market Lens: Two New Eurozone Labor Indicators |
| Presented by: Joaquin Garcia-Cabo, Federal Reserve Board |
| # | Participant | Roles in Conference |
|---|---|---|
| 1 | Abadi, Joseph | P31, C31 |
| 2 | Ahn, Hie Joo | P37, C37 |
| 3 | Awal, Farouk | P35 |
| 4 | Ayres, Joao | P29, C29 |
| 5 | Bae, Daeeun | P13 |
| 6 | Bairoliya, Neha | P33, C33 |
| 7 | Barbosa-Alves, Mauricio | P35 |
| 8 | Bighelli, Tommaso | P13, C13 |
| 9 | Birinci, Serdar | P9, C9 |
| 10 | Boehnert, Lukas | P13 |
| 11 | Bourany, Thomas | P35, C35 |
| 12 | Carceles-Poveda, Eva | P4, C4 |
| 13 | Cardamone, Dario | P31 |
| 14 | Casella, Sara | P10 |
| 15 | Cazzaniga, Mauro | P34 |
| 16 | Chang, Yongsung | P10, C10 |
| 17 | Chen, Yuchen | P1, C1 |
| 18 | Cheremukhin, Anton | P9 |
| 19 | Cho, Kitae | P29 |
| 20 | Coen-Pirani, Daniele | P34, C34 |
| 21 | Coyle, Philip | P32 |
| 22 | Cristoforoni, Enrico | P18, C18 |
| 23 | Crucini, Mario | P36 |
| 24 | Diaz, Agustin | P30 |
| 25 | Ding, Jenny Siqin | P25 |
| 26 | Donald, Eric | P8 |
| 27 | Dyrda, Sebastian | P4 |
| 28 | Ebsim, Mahdi | P34 |
| 29 | Ellieroth, Kathrin | P25, C25 |
| 30 | Ermolov, Andrey | P22 |
| 31 | Eva, Kenneth | P6 |
| 32 | Fiori, Giuseppe | P6, C6 |
| 33 | Fisher, Jonas | P6 |
| 34 | Fleskes, Nicole | P7, C7 |
| 35 | Gamboa-Arbelaez, Juliana | P24 |
| 36 | Garcia-Cabo, Joaquin | P40, C40 |
| 37 | Gornemann, Nils Mattis | P31 |
| 38 | Granziera, Eleonora | P1 |
| 39 | Grimm, Maximilian | P7 |
| 40 | Guo, Xing | P34 |
| 41 | Han, Hyein | P32, C32 |
| 42 | Heo, Ji Hye | P3, C3 |
| 43 | Holden, Tom | P11 |
| 44 | Horst, Bjarne | P39 |
| 45 | Hossein Dad, Nasir | P27, C27 |
| 46 | Hosseini, Roozbeh | P3 |
| 47 | Houtz, Alex | P16, C16 |
| 48 | Huang, Eric | P8, C8 |
| 49 | Huckfeldt, Christopher | P9 |
| 50 | Imrohoroglu, Selahattin | P19, C19 |
| 51 | Isakov, Kanat | P37 |
| 52 | Ishide, Akira | P11 |
| 53 | Isojaervi, Anni | P15, C15 |
| 54 | Jacobson, Margaret | P12 |
| 55 | Jungerman, William | P37 |
| 56 | Kim, Sihyun | P24 |
| 57 | Kim, Soojin | P23 |
| 58 | Koike-Mori, Yasutaka | P39, C39 |
| 59 | Kostyshyna, Olena | P21 |
| 60 | Lee, Annie | P22 |
| 61 | Lee, Sang Min | P8 |
| 62 | Lee, Donggyu | P36 |
| 63 | Lehr, Nils | P27 |
| 64 | Lepetit, Antoine | P11, C11 |
| 65 | Lima, Leonardo | P35 |
| 66 | Liu, Chang | P3 |
| 67 | Liu, Jiani | P30 |
| 68 | Lopez, Pierlauro | P25 |
| 69 | Lorenzini, Luca | P17 |
| 70 | Louie, Schuyler | P28 |
| 71 | Ma, Sai | P21 |
| 72 | Mac Mullen, Marcos | P14 |
| 73 | Madera, Rocio | P29 |
| 74 | Martner, Antonio | P20 |
| 75 | Mazzone, Luca | P17 |
| 76 | McCrary, Sean | P40 |
| 77 | McKiernan, Kathleen | P19 |
| 78 | Mertens, Matthias | P38 |
| 79 | Michaels, Ryan | P9 |
| 80 | Mihalache, Gabriel | P24, C24 |
| 81 | Mondragon, John | C28 |
| 82 | Moon, Sanghwa | P12 |
| 83 | Moran, Patrick | P10 |
| 84 | Moreno, Carla | P19 |
| 85 | Murphy, Daniel | P28 |
| 86 | Navarrete, Michael | P28 |
| 87 | Occhino, Filippo | P14, C14 |
| 88 | Osten, David | P11 |
| 89 | Park, Yena | P4 |
| 90 | Park, Geumbi | P20, C20 |
| 91 | Pashchenko, Svetlana | P23, C23 |
| 92 | Patella, Valeria | P6 |
| 93 | Peng, Xinyi | P15 |
| 94 | Popova, Irina | P10 |
| 95 | Pretnar, Nick | P38 |
| 96 | Puig, Aina | P30 |
| 97 | Ramirez de Aguilar, Alberto | P14 |
| 98 | Rawling, Luke | P17, C17 |
| 99 | Ripoll, Marla | P18 |
| 100 | Rojas, Marco | P26 |
| 101 | Rueda, Horacio | P20 |
| 102 | Sager, Erick | P14 |
| 103 | Sanches, Daniel | P22, C22 |
| 104 | Sans, Mariana | P31 |
| 105 | Sapci, Ayse | P7 |
| 106 | Schmidt-Eisenlohr, Tim | P7 |
| 107 | Sciacovelli, Giovanni | P36, C36 |
| 108 | Scudiero, Alessia | P5, C5 |
| 109 | Shahrezaei, Shabnam | P33 |
| 110 | Shen, Hewei | P2 |
| 111 | Silva, Dejanir | P16 |
| 112 | Simon, Pedro | P18 |
| 113 | Smirnyagin, Vladimir | P2 |
| 114 | Smith, Charles | P12 |
| 115 | Sollaci, Alexandre | P13 |
| 116 | Sousa, Rui | P8 |
| 117 | Spencer, Adam | P38, C38 |
| 118 | Stangebye, Zachary | P2, C2 |
| 119 | Sung, Yeji | P21, C21 |
| 120 | Toledo, Gabriel | P15 |
| 121 | Torres Chain, Johanna | P33 |
| 122 | Twieling, Hannes | P28 |
| 123 | Villegas Bauer, German | P32 |
| 124 | Wan, Mengxi | P23 |
| 125 | Wang, Haoran | P15 |
| 126 | Wang, Manchun | P39 |
| 127 | Wang, Xueliang | P1 |
| 128 | Weber, Julien | P26, C26 |
| 129 | Westermark, Andreas | P5 |
| 130 | Winkler, Fabian | P40 |
| 131 | Wu, Edson | P26 |
| 132 | Wu, Kai-Jie | P27 |
| 133 | Xie, Yinxi | P16 |
| 134 | Xie, Zoe | P29 |
| 135 | Yamarthy, Ram | P32 |
| 136 | Yi, Nicholas | P12, C12 |
| 137 | You, Zhiheng | P5 |
| 138 | Zeida, Teegawende | P33 |
| 139 | Zhang, Lichen | P30, C30 |
| 140 | Zhong, Yutong | P27 |
| 141 | Zhou, Wentao | P26 |
This program was last updated on 2025-11-05 13:51:43 EDT