Money Macro and Finance Research Group 40th Annual Conference

Summary of All Sessions

#Date/TimeTitlePapers
1September 10, 2008
15:45-17:45
Financial Crises 13
2September 10, 2008
15:45-17:45
Monetary Policy 14
3September 10, 2008
15:45-17:45
Banking Regulation and Supervision4
4September 10, 2008
15:45-17:45
Business Cycles / DSGE3
5September 10, 2008
15:45-17:45
Markups and Pricing4
6September 10, 2008
15:45-17:45
Development / Emerging Markets4
7September 10, 2008
15:45-17:45
Financial Market Volatility 14
8September 10, 2008
15:45-17:45
GDRE Money Banking & Finance Special Session: Corporate Finance3
9September 11, 2008
9:00-11:00
Monetary Policy 24
10September 11, 2008
9:00-11:00
Housing Markets4
11September 11, 2008
9:00-11:00
Liquidity4
12September 11, 2008
9:00-11:00
Dollarization and Payments Systems3
13September 11, 2008
9:00-11:00
Investment4
14September 11, 2008
9:00-11:00
Financial Market Volatility 24
15September 11, 2008
11:30-13:00
Financial Crises 22
16September 11, 2008
11:30-13:00
Exchange Rates 23
17September 11, 2008
11:30-13:00
Financial Market Anomalies3
18September 11, 2008
11:30-13:00
Shocks to the System 3
19September 11, 2008
11:30-13:00
Europe / Integration3
20September 11, 2008
11:30-13:00
International Business Cycles2
21September 11, 2008
14:00-16:00
Monetary Policy 34
22September 11, 2008
14:00-16:00
Tax3
23September 11, 2008
14:00-16:00
Central Banks4
24September 11, 2008
14:00-16:00
Imperfect Information and Exchange Rates4
25September 11, 2008
14:00-16:00
Growth4
26September 11, 2008
14:00-16:00
Labour Markets4
27September 11, 2008
14:00-16:00
Real Time Data and Learning and Forecasting4
28September 12, 2008
9:00-11:00
Bank Lending3
29September 12, 2008
9:00-11:00
Special Session: Forecasting & Model Uncertainty4
30September 12, 2008
9:00-11:00
Public Finance3
31September 12, 2008
9:00-11:00
Inflation3
32September 12, 2008
9:00-11:00
Portfolio Selection3
33September 12, 2008
9:00-11:00
New Keynesian Macro Models4
34September 12, 2008
9:00-11:00
Special Session: Monetary Policy & Central Banking in the Middle East and North Africa4
 

34 sessions, 119 papers


 

Money Macro and Finance Research Group 40th Annual Conference

Complete List of All Sessions


Session 1: Financial Crises 1

Session Chair: Alex Mandilaras, University of Surrey
Session JEL code: f31
Date: September 10, 2008
Time: 15:45 - 17:45
 

Sovereign spreads, currency crises, and fundamentals: A non-linear analysis
JEL codes: F31 F32 F34 C32
By Melisso Boschi University of Essex University of Perugia Centre for Applied Macroeconomic Analysis
   Presented by: Melisso Boschi, University of Essex
 

Regionality Revisited: An Examination of the Direction of Spread of Currency Crises
By Amil Dasgupta, LSE Roberto Leon-Gonzalez, GRIPS Tokio Anja Shortland, Brunel University
   Presented by: Anja Shortland, Brunel University
 

A Markov Switching Analysis of Contagion in the EMS
By Alex Mandilaras, University of Surrey Graham Bird, University of Surrey
   Presented by: Alex Mandilaras, University of Surrey

Session 2: Monetary Policy 1

Session Chair: Pawel Zabczyk, Bank of England
Date: September 10, 2008
Time: 15:45 - 17:45
 

Interest Rate Rules and Global Determinacy: An Alternative to the Taylor Principle
JEL codes: E43, E52, E58
By PSE and CEPREMAP
   Presented by: Jean-Pascal Benassy, PSE and CEPREMAP
 

Sales and Monetary Policy
By Bernardo Guimaraes, London School of Economics Kevin Sheedy, London School of Economics
   Presented by: Kevin Sheedy, London School of Economics
 

Central bank preferences, distribution forecasts and economic stability in a small open economy
By Alessandro Flamini Keele University
   Presented by: Alessandro Flamini, Keele University
 

Uncertainty and Monetary Policy The Role of Precautionary Saving
By Bianca De Paoli, Bank of England, LSE, CEP Pawel Zabczyk, Bank of England, LSE
   Presented by: Pawel Zabczyk, Bank of England

Session 3: Banking Regulation and Supervision

Session Chair: Jung-Hyun AHN, University of Paris X
Date: September 10, 2008
Time: 15:45 - 17:45
 

Basel II Capital Requirements, Firms' Heterogeneity, and the Business Cycle
JEL codes: E44 E32 G28 E10
By José Jorge (CEMPRE, Faculdade de Economia, Universidade do Porto), Inês Drumond (CEMPRE, Faculdade de Economia, Universidade do Porto)
   Presented by: José Jorge, Universidade do Porto
 

Basel Accord and Financial Intermediation: The Impact of Policy
By Martin Berka, Massey University Christian Zimmermann, University of Connecticutt
   Presented by: Martin Berka, Massey University
 

Ownership Concentration, Public Governance and the Demand for Law Protecting Investors
By Chatelain Jean-Bernard University Paris X Ralf Kirsten Graduate School of International Trade, Paris.
   Presented by: KIRSTEN RALF,
 

Securitization and the intensity of competition
By Jung-Hyun Ahn, EconomiX - University of Paris X Regis Breton, CNRS and LEO - University of Orleans
   Presented by: Jung-Hyun AHN, University of Paris X

Session 4: Business Cycles / DSGE

Session Chair: Paul Scanlon, Trinity College Dublin
Date: September 10, 2008
Time: 15:45 - 17:45
 

Factor demand linkages and the business cycle: interpreting aggregate fluctuations as sectoral fluctuations.
JEL codes: E2,E32,C31,C51
By Sean Holly Ivan Petrella Faculty of Economics and Centre for International Macroeconomics and Finance (CIMF), University of Cambridge, Cambridge, CB3 9DD, UK
   Presented by: Ivan Petrella, Univeity of Cambridge
 

Volatility Cycles of Output and Inflation: A Good Shock, Bad Shock Story
By Szilard Benk Hungarian National Bank Max Gillman Cardiff Business School Michal Kejak CERGE-EI
   Presented by: Max Gillman, Cardiff Business School
 

New Goods and Asset Prices
By Paul Scanlon, Trinity College Dublin
   Presented by: Paul Scanlon, Trinity College Dublin

Session 5: Markups and Pricing

Session Chair: Lenno Uusküla, EUI
Date: September 10, 2008
Time: 15:45 - 17:45
 

The cyclicality of mark-ups and profit margins for the United Kingdom: Some new evidence
JEL codes: E31, L11
By Clare Macallan, Bank of England Stephen Millard, Bank of England Miles Parker, Bank of England
   Presented by: Stephen Millard, Bank of England
 

What lies beneath: what can disaggregated data tell us about pricing behaviour?
By Colin Ellis (Bank of England) Haroon Mumtaz (Bank of England) Pawel Zabczyk (Bank of England)
   Presented by: Colin Ellis,
 

Pricing to Market and pass-through by Indian exporters of homogeneous and differentiated goods across G3 and BRICS markets
By Sushanta Mallick, Queen Mary, University of London, UK Helena Marques, University of Manchester, UK
   Presented by: Sushanta Mallick, Queen Mary, University of London
 

Limited Participation or Sticky Prices? New Evidence from Firm Entry and Failures
By Lenno Uusküla (European University Institute)
   Presented by: Lenno Uusküla, EUI

Session 6: Development / Emerging Markets

Session Chair: Alex Ferreira, FEARP
Date: September 10, 2008
Time: 15:45 - 17:45
 

On the macroeconomics of microfinance
By Keith Blackburn Economics, University of Manchester, Soyolmaa Batbekh, Economics, University of Manchester
   Presented by: soyolmaa batbekh, university of manchester
 

What Role do Indian Banks Play in Monetary Transmission?
By Mohammed Amidu School of Management, University of Southampton Simon Wolfe School of Management, University of Southampton
   Presented by: MOHAMMED AMIDU, UNIVERSITY OF SOUTHAMPTON
 

Village Heterogeneity and Consumption Smoothing: Empirical Evidence in Thai Villages
By Ornsiri Rungruxsirivorn Leibniz Universität Hannover
   Presented by: Ornsiri Rungruxsirivorn, Leibniz Universität Hannover
 

On the Differences Between the Marginal Product of Capital Across Countries
By Dr. Alex Luiz Ferreira FEARP/USP Departament of Economics Avenida dos Bandeirantes, 3900 Ribeirão Preto – SP – Brazil CEP: 14040-900
   Presented by: Alex Ferreira, FEARP

Session 7: Financial Market Volatility 1

Session Chair: Helena Chulia, Universitat Oberta de Catalunya
Date: September 10, 2008
Time: 15:45 - 17:45
 

Volatility forecasting of the S&P500 index. An extreme value method vs the CARR model
JEL codes: G10, G11, G14
By José Luis Miralles-Marcelo, University of Extremadura José Luis Miralles-Quirós, University of Extremadura María del Mar Miralles-Quirós, University of Extremadura
   Presented by: Maria del Mar Miralles-Quiros, University of Extremadura
 

Derivatives trading and the volume-volatility link in the Indian stock market
By M Karanasos, Brunel University S Bhaumik, Brunel University A Kartsaklas, York University
   Presented by: menelaos karanasos, public
 

Open Market Operations and Volatility of Bond Returns: Microstructure Evidence
By Vladimir Sokolov Higher School of Economics, ICEF
   Presented by: Vladimir Sokolov, Higher School of Economics
 

The ffects of Federal Funds Target Rate Changes on S&P100 Stock Returns, Volatilities, and Correlations
By Helena Chulia, Universitat Oberta de Catalunya Martin Martens, Erasmus University of Rotterdam Dick van Dijk, Erasmus University of Rotterdam
   Presented by: Helena Chulia, Universitat Oberta de Catalunya

Session 8: GDRE Money Banking & Finance Special Session: Corporate Finance

Session Chair: Christophe Godlewski, University of Strasbourg
Date: September 10, 2008
Time: 15:45 - 17:45
 

Financial versus Social Efficiency of Corporate Bankruptcy Law: the French Dilemma?
JEL codes: G33; K22
By Régis BLAZY (University of Luxembourg) Bertrand CHOPARD (Nancy 2 University) Agnès FIMAYER (University of Luxembourg) Jean-Daniel GUIGOU (University of Luxembourg)
   Presented by: Regis Blazy, Luxembourg School of Finance
 

Are small and medium-sized fi…rms really credit constrained ? Evidence from a French targeted credit programme
By Laurent Bach Paris School of Economics and CREST-INSEE
   Presented by: Laurent Bach, Paris School of Economics and CREST-INSE
 

How many banks does it take to lend ? Empirical evidence from Europe
By Christophe J. Godlewski, University of Strasbourg, EM Strasbourg Business School, LaRGE Ydriss Ziane, University of Nancy, BETA
   Presented by: Christophe Godlewski, University of Strasbourg

Session 9: Monetary Policy 2

Session Chair: Marius Jurgilas, Elon University
Date: September 11, 2008
Time: 9:00 - 11:00
 

Parameter misspecification and optimal discretionary monetary policy
JEL codes: E31; E52; E61
By Juan Paez-Farrell, Cardiff University and EABCN
   Presented by: Juan Paez-Farrell, Cardiff University
 

Monetary Policy and Stock Price Dynamics with Limited Asset Markets Participation
By Marco Airaudo, Collegio Carlo Alberto, Italy
   Presented by: Marco Airaudo, Collegio Carlo Alberto and University of Turin
 

Optimal Monetary Policy with Wealth Effect
By Roberta Cardani, Università Cattolica del Sacro Cuore, Milano
   Presented by: Roberta Cardani, Università Cattolica del Sacro Cuore
 

Monetary policy under a currency board
By Marius Jurgilas, Elon University
   Presented by: Marius Jurgilas, Elon University

Session 10: Housing Markets

Session Chair: Jack Rogers, University of Exeter
Date: September 11, 2008
Time: 9:00 - 11:00
 

risk-return relationships and asymmetric adjustment in the UK housing market
JEL codes: G10, R21, R31
By Bruce Morley, University of Bath Dennis Thomas, University of Wales Aberystwyth
   Presented by: Bruce Morley, University of Bath
 

Revisiting the comovement puzzle: the Input-Output structure as an additional solution
By Federico di Pace Birkbeck, University of London
   Presented by: Federico di Pace,
 

Deregulation and house prices: a simple tale of moral hazard
By Marcus Miller University of Warwick Lei Zhang University of Warwick
   Presented by: Marcus Miller, University of Warwick
 

Mortgage Contract Choice and Optimal Monetary Policy in a DSGE Economy with Fixed-Rate Mortgages and Credit Constraints
By J R Rogers
   Presented by: Jack Rogers, University of Exeter

Session 11: Liquidity

Session Chair: Ansgar Belke, University of Duisburg-Essen
Date: September 11, 2008
Time: 9:00 - 11:00
 

Funding Liquidity Risk:Definition and Measurement
JEL codes: E58, G21
By Kleopatra Nikolaou European Central Bank (ECB) Mathias Drehmann Bank for International Settlements (BIS)
   Presented by: Kleopatra Nikolaou, ECB
 

Market discipline and banking supervision: the role of subordinated debt
By Isabelle DISTINGUIN, LAPE University of Limoges
   Presented by: Isabelle DISTINGUIN, UNIVERSITY OF LIMOGES
 

The impact of reserves averaging on banks' liquidity management
By Claire Halsall John Jackson Ouarda Merrouche
   Presented by: John Jackson, Bank of England
 

Global Liquidity and House Prices: A VAR Analysis for OECD Countries
By Professor Dr. Ansgar Belke, University of Duisburg-Essen and IZA Bonn Walter Orth, University of Duisburg-Essen Dr. Ralph Setzer, Deutsche Bundesbank
   Presented by: Ansgar Belke, University of Duisburg-Essen

Session 12: Dollarization and Payments Systems

Session Chair: Marco Galbiati, Bank of England
Date: September 11, 2008
Time: 9:00 - 11:00
 

Empirical Investigation of Currency Dependence of Credit Spreads
JEL codes: G12; G15; G32
By Emrah Sener (Bank of America) Turalay Kenc (Bradford University)
   Presented by: Turalay Kenc, Bradford University School of Management
 

Payment systems, inside money and financial intermediation
By Ouarda Merrouche, Bank of England Erlend Nier, IMF
   Presented by: Ouarda Merrouche, Bank of England
 

Emergence of tiering in large value payment systems
By Mark Adams, Bank of England Marco Galbiati, Bank of England Simone Giansante, University of Essex
   Presented by: Marco Galbiati, Bank of England

Session 13: Investment

Session Chair: Marina-Eliza Spaliara, University of Loughborough
Date: September 11, 2008
Time: 9:00 - 11:00
 

Multinational Ownership and Subsidiary Investment
JEL codes: F21,
By Wendy Carlin, UCL and CEPR Andrew Charlton, LSE Colin Mayer, Said Business School, Oxford University and CEPR
   Presented by: Wendy Carlin, Department of Economics
 

The End of Financial Repression? A Cross-Country Analysis of Private Investment
By Panicos Demetriades, University of Leicester Gregory A. James, University of Leicester Kevin Lee, University of Leicester
   Presented by: Gregory James, University of Leicester
 

Macroeconomic Rates of Return of Public and Private Investment: Crowding-in and Crowding-out Effects
By António Afonso, European Central Bank and ISEG–Technical University of Lisbon Miguel St. Aubyn, ISEG–Technical University of Lisbon
   Presented by: Miguel St. Aubyn, ISEG-Technical University of Lisbon
 

Do financial factors affect the Capital-Labour ratio? Evidence from UK firm-level data.
By Marina-Eliza Spaliara University of Loughborough
   Presented by: Marina-Eliza Spaliara, University of Loughborough

Session 14: Financial Market Volatility 2

Session Chair: Ricardo Ribeiro, London School of Economics, STICERD
Date: September 11, 2008
Time: 9:00 - 11:00
 

An assessment of variances and covariances of European SRI Funds returns: does the intensity of extra-financial negative screening matter?
JEL codes: C53; G15, G12
By Yves Jégourel LARE-efi, University of Bordeaux 4, jegourel@u-bordeaux4.fr Samuel Maveyraud GREThA, University of Bordeaux 4, samuel.maveyraud@u-bordeaux4.fr
   Presented by: Samuel Maveyraud-Tricoire, University of Limoges
 

The Winner’s Curse and Lottery-Allocated IPOs in China
By Jerry Coakley, University of Essex Norvald Instefjord, University of Essex Zhe Shen, Xiamen University
   Presented by: Jerry Coakley, Essex University
 

Heterogeneity and Rationality of Interest Rate Forecasts: Evidence from the UK
By Georgios Chortareas, University of Athens Boonlert Jitmaneeroj, University of Essex Andrew Wood, University of Essex
   Presented by: boonlert jitmaneeroj, University of Essex
 

AN EMPIRICAL MODEL OF MULTI-VENUE TRADING COMPETITION POST-MiFID
By Ricardo Ribeiro - STICERD, LSE
   Presented by: Ricardo Ribeiro, London School of Economics, STICERD

Session 15: Financial Crises 2

Session Chair: Thomas Flavin, NUI Maynooth
Date: September 11, 2008
Time: 11:30 - 13:00
 

Financial Globalization and Banking Crises in Emerging Markets
JEL codes: E44, F41, G21
By Joseph P. Joyce, Department of Economics, Wellesley College
   Presented by: Joseph Joyce, Wellesley College
 

On the stability of domestic financial market linkages in the presence of time-varying volatility
By Thomas Flavin, NUI Maynooth Ekaterini Panopoulou, University of Piraeus Deren Unalmis, University of York.
   Presented by: Thomas Flavin, NUI Maynooth

Session 16: Exchange Rates 2

Session Chair: Ahmad Ahmad, Loughborough University
Date: September 11, 2008
Time: 11:30 - 13:00
 

Does Higher Openness Cause More Real Exchange Rate Volatility?
JEL codes: F31, F41, C23
By Cesar Calderon, the World Bank Megumi Kubota, the University of York
   Presented by: Megumi Kubota, University of York
 

Nominal Shocks and Real Exchange Rate Fluctuations
By Luciana Juvenal Federal Reserve Bank of St. Louis University of Warwick
   Presented by: Luciana Juvenal, Federal Reserve Bank of St Louis and University of Warwick
 

Sources of Real Exchange Rate Fluctuations: Empirical Evidence from African Countries
By A. H. Ahmad, Department of Economics Loughborough University Leicestershire, LE11 3TU United Kingdom A.H.Ahmad@lboro.ac.uk
   Presented by: Ahmad Ahmad, Loughborough University

Session 17: Financial Market Anomalies

Session Chair: Zhuoshi Liu, University of York
Date: September 11, 2008
Time: 11:30 - 13:00
 

Forecasting International Yield Curves
JEL codes: G1, E4, C5, E17
By Marco Willner, Graduate Program Finance and Monetary Economics Mertonstrasse 17-21, Uni-PF 77, D-60054 Frankfurt am Main, Germany
   Presented by: Marco Willner, Goethe University Frankfurt
 

Uninsurable Risk and Financial Market Puzzles
By Parantap Basu Durham University UK Andrei Semenov York University Canada Kenji Wada Keio University Japan
   Presented by: Parantap Basu, University of Durham
 

An Admissible Term Structure Model of Sovereign Yield Spreads with Macro Factors: a Case of Brazilian Global Bonds
By Zhuoshi Liu University of York Peter Spencer University of York
   Presented by: Zhuoshi Liu, University of York

Session 18: Shocks to the System

Session Chair: Filiz Unsal, University of York
Date: September 11, 2008
Time: 11:30 - 13:00
 

Money and Output in a New-Keynesian Framework: Further Evidence for the U.S.
JEL codes: E31, E51, E52
By Efrem Castelnuovo (University of Padua)
   Presented by: Efrem Castelnuovo, University of Padua
 

Time-Varying Effects of Oil Supply Shocks on the US Economy
By Christiane Baumeister, Ghent University Gert Peersman, Ghent University
   Presented by: Christiane Baumeister, Ghent University
 

Macroeconomic Effects of Oil Price Shocks on a Small Open Economy
By Derya Filiz Unsal, University of York Deren Unalmis,University of York Ibrahim Unalmis, University of York
   Presented by: Filiz Unsal, University of York

Session 19: Europe / Integration

Session Chair: yi-hua wu, school
Date: September 11, 2008
Time: 11:30 - 13:00
 

The Maastricht Criteria and Optimal Monetary and Fiscal Policy Mix for the EMU Accession Countries
JEL codes: F41, E52, E58,
By Anna Lipinska IDEA, Universitat Autonoma de Barcelona Bank of England
   Presented by: Anna Lipinska, Universitat Autonoma de Barcelona
 

Monetary and Fiscal Policies Interactions in a Monetary Union With Country-size Asymmetry
By Celsa Machado, ISCAP Ana Paula Ribeiro, CEMPRE - Faculdade de Economia da Universidade do Porto
   Presented by: Celsa Machado, ISCAP
 

Do the euro and NAFTA induce price convergence in the Eurozone and North America separately?
By Yi-Hua Wu. PhD student, National Tsing Hua University, Taiwan. Shu-Shiuan Lu. Assistant professor, National Tsing Hua University, Taiwan. Chao-Hsi Huang. Professor, National Tsing Hua University, Taiwan.
   Presented by: yi-hua wu, school

Session 20: International Business Cycles

Session Chair: Roman Sustek, Bank of England
Date: September 11, 2008
Time: 11:30 - 13:00
 

International Output Convergence, Breaks, and Asymmetric Adjustment
JEL codes: O47, C22
By Dimitris K. Christopoulos Panteion University Miguel A. León-Ledesma University of Kent
   Presented by: Miguel Leon-Ledesma, University of Kent
 

The High Correlations of Prices and Interest Rates across Nations
By Espen Henriksen, University of Oslo Finn Kydland, UCSB Roman Sustek, Bank of England
   Presented by: Roman Sustek, Bank of England

Session 21: Monetary Policy 3

Session Chair: Dmitri Vinogradov, University of Essex
Date: September 11, 2008
Time: 14:00 - 16:00
 

Parameter Uncertainty and Non-Linear Monetary Policy Rules
JEL codes: E43, E52
By Peter Tillmann University of Bonn
   Presented by: Peter Tillmann, Swiss National Bank
 

The Output Effect of Stopping Inflation when Velocity is Time Varying
By Lynne Evan, Newcastle University and Honorary Fellow at Durham Anamaria Nicolae, Durham University
   Presented by: Anamaria Nicolae, University of Durham
 

Does monetary policy respond to exchange rate movements? An empirical analysis.
By Hilde C. Bjørnland, Norwegian School of Mangement and Norges Bank. Jørn I. Halvorsen, Norwegian School of Economics and Business Administration
   Presented by: Hilde Bjornland, Norwegian School of Management (BI)
 

Banks, Credibility, and Macroeconomic Evolution After a Production Shock
By Dmitri Vinogradov, University of Essex
   Presented by: Dmitri Vinogradov, University of Essex

Session 22: Tax

Session Chair: John Lewis, De Nederlandsche Bank
Date: September 11, 2008
Time: 14:00 - 16:00
 

Tax Cuts in Open Economies
JEL codes: E13 E60 F11 F43
By Alejandro Cuñat, University of Essex Szabolcs Deák, Università Bocconi Marco Maffezzoli,Università Bocconi
   Presented by: Marco Maffezzoli, Università Commerciale "L. Bocconi"
 

Tax Smoothing May Not Be As Important As You Think
By David M. Arseneau, Federal Reserve Board Sanjay K. Chugh, University of Maryland
   Presented by: Sanjay Chugh, University of Maryland
 

Did Fiscal Policymakers Know What They Were Doing? Re-Assessing Fiscal Policy with Real Time Data
By John Lewis De Nederlandsche Bank Tallinn University of Technology Andrew Hughes Hallett George Mason University CEPR Kerstin Bernoth De Nederlandsche Bank
   Presented by: John Lewis, De Nederlandsche Bank

Session 23: Central Banks

Session Chair: Cem Karaman, Portland State University
Date: September 11, 2008
Time: 14:00 - 16:00
 

Actual versus perceived transparency: The case of the European Central Bank
JEL codes: D10 D80 E52
By Carin van der Cruijsen De Nederlandsche Bank and University of Amsterdam Sylvester Eijffinger CentER, Tilburg University, CEPR, RSM Erasmus University
   Presented by: Carin Cruijsen, De Nederlandsche Bank
 

Does the clarity of central bank communication affect volatility in financial markets?
By David-Jan Jansen De Nederlandsche Bank
   Presented by: David-Jan Jansen, De Nederlandsche Bank
 

Communicating with many Tongues: The Impact of FOMC Members Speeches on U.S. Financial Markets’ Returns and Volatility
By Bernd Hayo (Philipps-University Marburg) Ali Kutan (Southern Illinois University) Matthias Neuenkirch (Philipps-University Marburg)
   Presented by: Bernd Hayo, Philipps-University of Marburg
 

The Central Banks’' Inf‡luence on Public Expectations
By Dr. Cem Karaman, Portland State University
   Presented by: Cem Karaman, Portland State University

Session 24: Imperfect Information and Exchange Rates

Session Chair: Christian Mueller, Zurich University of Applied Sciences
Date: September 11, 2008
Time: 14:00 - 16:00
 

Information, heterogeneity and market incompleteness
JEL codes: D52; D84; E32.
By Liam Graham, UCL Stephen Wright, Birkbeck
   Presented by: Liam Graham, University College London
 

The Undisclosed Renminbi Basket: Are the Markets Telling Us Something About Where The Renminbi - US Dollar Exchange Rate Is Going?
By Michael Funke, Hamburg University Marc Gronwald, Hamburg University
   Presented by: Michael Funke, Hamburg University
 

Does Intervention Alter Private Behavior?
By Eric Girardin Richard K. Lyons
   Presented by: Eric Girardin, GREQAM, Université de la Méditerranée
 

Rationally ''irrational'': Theory and empirical evidence
By Christian Mueller Zurich University of Applied Sciences School of Management and Law
   Presented by: Christian Mueller, Zurich University of Applied Sciences

Session 25: Growth

Session Chair: Gonzalo Forgues-Puccio, University of St Andrews
Date: September 11, 2008
Time: 14:00 - 16:00
 

The Evolution of Population, Technology and Output
JEL codes: J13, O11, O33
By Queens University Belfast
   Presented by: Galindev Ragchaasuren, Queens University Belfast
 

Bureaucratic start-up costs, entrepreneurial capital, and sectoral growth
By Christian Fons-Rosen London School of Economics, Centre for Economic Performance
   Presented by: Christian Fons-Rosen, London School of Economics
 

Financial Development, Political Instability and Economic Growth: New Time-Series Evidence from Argentina (1896-2000)
By Nauro F. Campos Brunel University, CEPR and IZA nauro.campos@brunel.ac.uk Menelaos G. Karanasos Brunel University menelaos.karanasos@brunel.ac.uk Bin Tan Brunel University bin.tan@brunel.ac.uk
   Presented by: Bin Tan, Brunel University
 

Why is Corruption Less Harmful in Some Countries than in Others?
By Keith Blackburn, University of Manchester Gonzalo F. Forgues-Puccio, University of St Andrews
   Presented by: Gonzalo Forgues-Puccio, University of St Andrews

Session 26: Labour Markets

Session Chair: Mark Roberts, University of Nottingham
Date: September 11, 2008
Time: 14:00 - 16:00
 

International labour mobility, business cycle and inflation dynamics and monetary policy
JEL codes: E52, F41, J61
By Morten Spange, Bank of England Tony Yates, Bank of England
   Presented by: Morten Spange, Bank of England
 

Some determinants of public and private sector wages
By António Afonso, ECB and ISEG/TULisbon Pedro Gomes, LSE
   Presented by: Antonio Afonso, European Central Bank
 

What is the impact of public sector employment and wages on the labour market?
By Pedro Gomes, London School of Economics
   Presented by: Pedro Gomes, London School of Economics
 

Interest spreads, seniority wages and economic growth
By Mark A. Roberts University of Nottingham
   Presented by: Mark Roberts, University of Nottingham

Session 27: Real Time Data and Learning and Forecasting

Session Chair: Silvia Lui, NIESR
Date: September 11, 2008
Time: 14:00 - 16:00
 

Learning and ex-ante interest rate uncertainty - an empirical investigation using Taylor rules and real-time data
JEL codes: E52, C32, C53
By Martin Mandler, University of Giessen and University of Kassel
   Presented by: Martin Mandler, private
 

Forecasting with a model of data revisons
By Jana Eklund, Bank of England George Kapetanios, Queen Mary University of London Simon Price, Bank of England and City University
   Presented by: Simon Price, Bank of England
 

Utilizing financial market information in forecasting real growth, inflation and real exchange rate
By Juha Junttila University of Oulu Marko Korhonen University of Turku
   Presented by: Juha Junttila, University of Oulu
 

Qualitative Business Surveys: Signal or Noise?
By Silvia Lui, National Institute of Economic and Social Research James Mitchell, National Institute of Economic and Social Research Martin Weale, National Institute of Economic and Social Research
   Presented by: Silvia Lui, NIESR

Session 28: Bank Lending

Session Chair: Enrique Benito, Financial Services Authority (FSA)
Date: September 12, 2008
Time: 9:00 - 11:00
 

Shocks to bank capital: Evidence from UK banks at home and away
JEL codes: G21, F34, E44
By Nada Mora, Bank of England Andrew Logan, Oxford Economic Forecasting
   Presented by: Nada Mora, Bank of England
 

BANKS’ DIVERSIFICATION, CROSS-SELLING AND THE QUALITY OF BANKS’ LOANS
By Stefania Cosci, LUMSA University of Rome, email: s.cosci@lumsa.it Valentina Meliciani, University of Teramo, email: vmeliciani@unite.it Valentina Sabato, LUMSA University of Rome, email: v.sabato@lumsa.it
   Presented by: valentina meliciani, university of termano
 

Size, Growth and Bank Dynamics
By Enrique Benito, Financial Services Authority and Universidad Carlos III de Madrid
   Presented by: Enrique Benito, Financial Services Authority (FSA)

Session 29: Special Session: Forecasting & Model Uncertainty

Session Chair: Simon van Norden, HEC Montréal
Date: September 12, 2008
Time: 9:00 - 11:00
 

Combining Forecast Densities from VARs with Uncertain Instabilities
By Anne Sofie Jore (Norges Bank) James Mitchell (NIESR) Shaun Vahey (Norges Bank and RBNZ)
   Presented by: Shaun Vahey, Melbourne Business School
 

Nowcasting, Business Cycle Dating and the Interpretation of New Information when Real Time Data is Available
By Kevin Lee, Univ. of Leicester, UK Nilss Olekalns, Univ. of Melbourne, Australia Kalvinder Shields, Univ. of Melbourne, Australia
   Presented by: Kevin Lee, University of Leicester
 

Nowcasting economic activity in the Euro Area and in the United States
By European Central Bank
   Presented by: Domenico Giannone, European Central Bank
 

The Calibration of Probabilistic Economic Forecasts
By John W. Galbraith, McGill University and CIRANO Simon van Norden, HEC Montréal and CIRANO
   Presented by: Simon van Norden, HEC Montréal

Session 30: Public Finance

Session Chair: Laura Marsiliani, University of Durham
Date: September 12, 2008
Time: 9:00 - 11:00
 

3-Step Analysis of Public Finances Sustainability: the Case of the European Union
JEL codes: C23, E62, H62
By António Afonso European Central Bank, Directorate General Economics, Kaiserstraße 29, D-60311 Frankfurt am Main, Germany. ISEG/TULisbon - Technical University of Lisbon, Department of Economics; UECE – Research Unit on Complexity and Economics; R. Miguel Lupi 20, 1249-078 Lisbon, Portugal. UECE is supported by FCT (Fundação para a Ciência e a Tecnologia, Portugal), financed by ERDF and Portuguese funds. Emails: antonio.afonso@ecb.int, aafonso@iseg.utl.pt. Christophe Rault Université d’Orléans, LEO, CNRS, UMR 6221, Rue de Blois-B.P.6739, 45067 Orléans Cedex 2, France; IZA, Germany; and William Davidson Institute at the University of Michigan, Ann Arbor, Michigan, USA; email: chrault@hotmail.com. web-site: http://membres.lycos.fr/chrault
   Presented by: Christophe Rault, University of Orléans
 

POLITICAL EQUILIBRIUM SOCIAL SECURITY WITH MIGRATION
By LAURA MARSILIANI, University of Durham THOMAS RENSTRÖM, University of Durham and CEPR
   Presented by: Thomas Renstrom, University of Durham
 

Privately Provided Public Goods in a Dynamic Economy
By LAURA MARSILIANI, University of Durham THOMAS RENSTRÖM, University of Durham and CEPR
   Presented by: Laura Marsiliani, University of Durham

Session 31: Inflation

Session Chair: Ning Zeng, Brunel University
Date: September 12, 2008
Time: 9:00 - 11:00
 

The Impact of Reference Norms on Inflation Persistence When Wages are Staggered: Theoretical Analysis and Empirical Results
JEL codes: E31, E32, E24
By Markus Knell, Oesterreichische Nationalbank Alfred Stiglbauer, Oesterreichische Nationalbank
   Presented by: Markus Knell, Oesterreichische Nationalbank
 

Inflation dynamics and expectation errors in the US: an Unobserved Component model with Markov-Switching regimes
By Nicholas Million Banque de France
   Presented by: Nicolas Million, University Paris I Sorbonne
 

The persistence in inflation and output growth and the importance of the latter for the performance-uncertainty link
By Menelaos Karanasos,Brunel University, West London, UK Ning Zeng,Brunel University, West London, UK
   Presented by: Ning Zeng, Brunel University

Session 32: Portfolio Selection

Session Chair: Laura Povoledo, University of the West of England
Date: September 12, 2008
Time: 9:00 - 11:00
 

Together We Invest: Individual investors’ trading behaviour in Poland
JEL codes: G14, G15, G23
By Bartosz Gebka (submitting author), Newcastle University Business School, U.K. Christiane Goodfellow, Westfaelische Wilhelms-University Mueunster, Germany Martin T. Bohl, Westfaelische Wilhelms-University Mueunster, Germany , Germany. Newcastle University Business School, U.K.
   Presented by: Bartosz Gebka, Newcastle University
 

Modeling the dynamics of credit ratings in relation to financial factors
By Paul Mizen, University of Nottingham Serafeim Tsoukas, University of Newcastle
   Presented by: Serafeim Tsoukas, University of Newcastle
 

Does Asia’s choice of exchange rate regime affect Europe’s exposure to US shocks?
By Bojan Markovic Bank of England Laura Povoledo University of the West of England
   Presented by: Laura Povoledo, University of the West of England

Session 33: New Keynesian Macro Models

Session Chair: Francesco Furlanetto, Norges Bank
Date: September 12, 2008
Time: 9:00 - 11:00
 

Robust Control and Persistence in the New Keynesian Economy
JEL codes: C61; D81; E5
By Dr. Michael Paetz, University of Hamburg
   Presented by: Michael Paetz, Hamburg University
 

Macroeconomic Effects of Immigration in a New Keynesian Model
By Georgios Chortareas (University of Athens), Kostas Katirtzidis (University of Athens), John Tsoukalas (University of Nottingham)
   Presented by: Georgios Chortareas, University of Athens
 

Job Reallocation, Unemployment and Hours in a New Keynesian Model
By Richard W. P. Holt, University of Edinburgh
   Presented by: Richard Holt, University of Edinburgh
 

Productivity, Hours and Unemployment in a New Keynesian Model with Hiring Costs
By Francesco Furlanetto, Norges Bank Tommy Sveen Norges Bank
   Presented by: Francesco Furlanetto, Norges Bank

Session 34: Special Session: Monetary Policy & Central Banking in the Middle East and North Africa

Session Chair: David Cobham, Heriot-Watt University
Date: September 12, 2008
Time: 9:00 - 11:00
 

Monetary policy operations of debtor central banks in MENA countries
By Gunther Schnabl, University of Leipzig Franziska Schobert (Deutsche Bundesbank)
   Presented by: Franziska Schobert, Deutsche Bundesbank
 

Central Bank Independence in a MENA transition economy: the experience of Algeria
By Abdallah Zouache, CREUSET, University of Saint-Etienne, france and Mohamed-Cherif Ilmane, Institut Algérien des Hautes Etudes Financières, Algiers, Algeria.
   Presented by: Abdallah Zouache, University of Saint-Etienne
 

Estimating Central Bank Behavior in Emerging Markets
By Ozan Hatipoglu,Bogazici University C. Emre Alper, Bogazici University
   Presented by: Ozan Hatipoglu, Bosphorus University
 

Alternative exchange rate regimes for MENA countries: gravity model estimates of the trade effects
By Christopher Adam, University of Oxford David Cobham, Heriot-Watt University
   Presented by: David Cobham, Heriot-Watt University

This program was last updated on 2008-09-09 14:33:27 EDT