Money Macro and Finance Research Group 40th Annual Conference |
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Summary of All Sessions |
| # | Date/Time | Title | Papers |
|---|---|---|---|
| 1 | September 10, 2008 15:45-17:45 | Financial Crises 1 | 3 |
| 2 | September 10, 2008 15:45-17:45 | Monetary Policy 1 | 4 |
| 3 | September 10, 2008 15:45-17:45 | Banking Regulation and Supervision | 4 |
| 4 | September 10, 2008 15:45-17:45 | Business Cycles / DSGE | 3 |
| 5 | September 10, 2008 15:45-17:45 | Markups and Pricing | 4 |
| 6 | September 10, 2008 15:45-17:45 | Development / Emerging Markets | 4 |
| 7 | September 10, 2008 15:45-17:45 | Financial Market Volatility 1 | 4 |
| 8 | September 10, 2008 15:45-17:45 | GDRE Money Banking & Finance Special Session: Corporate Finance | 3 |
| 9 | September 11, 2008 9:00-11:00 | Monetary Policy 2 | 4 |
| 10 | September 11, 2008 9:00-11:00 | Housing Markets | 4 |
| 11 | September 11, 2008 9:00-11:00 | Liquidity | 4 |
| 12 | September 11, 2008 9:00-11:00 | Dollarization and Payments Systems | 3 |
| 13 | September 11, 2008 9:00-11:00 | Investment | 4 |
| 14 | September 11, 2008 9:00-11:00 | Financial Market Volatility 2 | 4 |
| 15 | September 11, 2008 11:30-13:00 | Financial Crises 2 | 2 |
| 16 | September 11, 2008 11:30-13:00 | Exchange Rates 2 | 3 |
| 17 | September 11, 2008 11:30-13:00 | Financial Market Anomalies | 3 |
| 18 | September 11, 2008 11:30-13:00 | Shocks to the System | 3 |
| 19 | September 11, 2008 11:30-13:00 | Europe / Integration | 3 |
| 20 | September 11, 2008 11:30-13:00 | International Business Cycles | 2 |
| 21 | September 11, 2008 14:00-16:00 | Monetary Policy 3 | 4 |
| 22 | September 11, 2008 14:00-16:00 | Tax | 3 |
| 23 | September 11, 2008 14:00-16:00 | Central Banks | 4 |
| 24 | September 11, 2008 14:00-16:00 | Imperfect Information and Exchange Rates | 4 |
| 25 | September 11, 2008 14:00-16:00 | Growth | 4 |
| 26 | September 11, 2008 14:00-16:00 | Labour Markets | 4 |
| 27 | September 11, 2008 14:00-16:00 | Real Time Data and Learning and Forecasting | 4 |
| 28 | September 12, 2008 9:00-11:00 | Bank Lending | 3 |
| 29 | September 12, 2008 9:00-11:00 | Special Session: Forecasting & Model Uncertainty | 4 |
| 30 | September 12, 2008 9:00-11:00 | Public Finance | 3 |
| 31 | September 12, 2008 9:00-11:00 | Inflation | 3 |
| 32 | September 12, 2008 9:00-11:00 | Portfolio Selection | 3 |
| 33 | September 12, 2008 9:00-11:00 | New Keynesian Macro Models | 4 |
| 34 | September 12, 2008 9:00-11:00 | Special Session: Monetary Policy & Central Banking in the Middle East and North Africa | 4 |
34 sessions, 119 papers |
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Money Macro and Finance Research Group 40th Annual Conference |
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Complete List of All Sessions |
Session 1: Financial Crises 1 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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' Influence on Public Expectations |
| By Dr. Cem Karaman, Portland State University |
| Presented by: Cem Karaman, Portland State University |
Session 24: Imperfect Information and Exchange Rates |
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| 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 |
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| 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