Program for 2003 North American Summer Meeting of the Econometric Society

Summary of All Sessions

#Date/TimeLocationTitlePapersOrganizer
126 June
9:00-10:30
G42 Honest Agents3Jeff Ely
226 June
9:00-10:30
G43 Corruption and elections3David Austen-Smith
326 June
9:00-10:30
1246 Long-memory time-series analysis3Joel Horowitz
426 June
9:00-10:30
G45 Transformation and ordered response models3Joel Horowitz
526 June
9:00-10:30
G44 Volatility3Costis Skiadas
626 June
9:00-10:30
G27 Portfolios and Unemployment3Bruce Meyer
726 June
9:00-10:30
G36 Market entry3Lars Stole
826 June
9:00-10:30
101 Persistence3Kala Krishna
926 June
9:00-10:30
166 Invited Session on Mathematical Economics2Chris Shannon
1026 June
9:00-10:30
165 Telecommunications and the Internet3Catherine Wolfram
1126 June
9:00-10:30
G05 Consumption and Investment Behavior2Martin Eichenbaum
1226 June
9:00-10:30
3245 Modelling Labor Force Participation Decisions2V. Hotz
1326 June
11:00-12:30
G42 Reputation in Games (Invited Session)3Jeff Ely
1426 June
11:00-12:30
G43 Lobbying and special interests3David Austen-Smith
1526 June
11:00-12:30
G03 International Investment3Kala Krishna
1626 June
11:00-12:30
1246 Panel data3Joel Horowitz
1726 June
11:00-12:30
101 Technical Progress and Development3Debraj Ray
1826 June
11:00-12:30
G27 Consumption3Bruce Meyer
1926 June
11:00-12:30
G45 Decision Theory I3Peter Klibanoff
2026 June
11:00-12:30
276 Monetary Theory1Larry Jones
2126 June
11:00-12:30
165 Gasoline and Electricity Markets3Catherine Wolfram
2226 June
11:00-12:30
G40 Topics in Empirical Macroeconomics3Martin Eichenbaum
2326 June
11:00-12:30
G05 Topics in International Macroeconomics (1)2Martin Eichenbaum
2426 June
11:00-12:30
G36 Axiomatic Mechanism Design 13William Thomson
2526 June
11:00-12:30
3245 Matching Estimators in Causal Inference3V. Hotz
2626 June
14:30-16:00
G43 Invited papers in positive political theory3David Austen-Smith
2726 June
14:30-16:00
G03 Trading Arrangements3Kala Krishna
2826 June
14:30-16:00
1246 Unit roots and cointegration3Joel Horowitz
2926 June
14:30-16:00
G44 Asymmetric Information in Financial Markets3Costis Skiadas
3026 June
14:30-16:30
G27 Market Performance and Culture3Bruce Meyer
3126 June
14:30-16:00
G45 Uncertainty and Information: Theory3Beth Allen
3226 June
14:30-16:00
165 Adverse selection, certification and intermediation2Lars Stole
3326 June
14:30-16:00
276 Growth and Non-Convexities3Larry Jones
3426 June
14:30-16:00
101 Trade and Integration3Kala Krishna
3526 June
14:30-16:00
G42 Experiments I: Cooperation3Muriel Niederle
3626 June
14:30-16:00
G05 Topics in International Macroeconomics (2)2Martin Eichenbaum
3726 June
14:30-16:00
166 Fiscal Policy3Martin Eichenbaum
3826 June
14:30-16:00
G36 Entreprenurship3Luigi Zingales
3926 June
14:30-16:00
3245 Structural Estimation of Equilibrium Outcomes3V. Hotz
4026 June
16:30-18:00
G45 Computational Methods in Games4Kenneth Judd
4126 June
16:30-18:00
G43 Information aggregation,preference aggregation and voting3David Austen-Smith
4226 June
16:30-18:00
1246 Forecasting and trends3Joel Horowitz
4326 June
16:30-18:00
101 Contractual Structure, Finance and Development3Debraj Ray
4426 June
16:30-18:00
G36 Auction Theory 13Sushil Bikhchandani
4526 June
16:30-18:00
G27 Taxes, Wages and Labor Supply3Bruce Meyer
4626 June
16:30-18:00
165 Vertical integration3Lars Stole
4726 June
16:30-18:00
276 Demography, History and Institutions3Larry Jones
4826 June
16:30-18:00
G42 Behavioral Economics 13Kent Daniel
4926 June
16:30-18:00
166 General Equilibrium I3Chris Shannon
5026 June
16:30-18:00
G03 Panel on International Trade3Kala Krishna
5126 June
16:30-18:00
G40 No Session0Martin Eichenbaum
5226 June
16:30-18:00
3245 Estimating Duration and Panel Data Models3V. Hotz
5327 June
9:00-10:30
G45 Computational Finance3Kenneth Judd
5427 June
9:00-10:30
G42 Game Theory Foundations (Invited Session)3Jeff Ely
5527 June
9:00-10:30
G03 Trade and Geography2Kala Krishna
5627 June
9:00-10:30
G43 Voting and politics3Roger Myerson
5727 June
9:00-10:30
G44 Liquidity in Financial Markets3Costis Skiadas
5827 June
9:00-10:30
G36 Auction Theory 23Sushil Bikhchandani
5927 June
9:00-10:30
G27 Contracts3Bruce Meyer
6027 June
9:00-10:30
276 Organizations and Finance3Sandeep Baliga
6127 June
9:00-10:30
165 Pricing dynamics3Lars Stole
6227 June
9:00-10:30
101 Instability3Kala Krishna
6327 June
9:00-10:30
166 Neuroeconomics2Chris Shannon
6427 June
9:00-10:30
1246 *Empirical Likelihood Methods and Related Topics I3Joel Horowitz
6527 June
9:00-10:30
G05 Monetary Policy and Inflation3Martin Eichenbaum
6627 June
9:00-10:30
3245 Modeling Disability and Remarriage3V. Hotz
6727 June
10:00-11:30
165 Price dispersion, price discrimination, and uncertainty3Lars Stole
6827 June
11:00-1:30
G03 Empirical Trade 23Kala Krishna
6927 June
11:00-12:30
1246 Empirical likelihood and related topics (II)3Joel Horowitz
7027 June
11:00-12:30
G27 Contracts, Legal Institutions, and Ex Post Efficiency4Kathryn Spier
7127 June
11:00-12:30
G43 Bargaining and politics3Roger Myerson
7227 June
11:00-12:30
G44 Corporate Aspects of Asset Pricing3Costis Skiadas
7327 June
11:00-12:30
G36 Auction Theory 33Sushil Bikhchandani
7427 June
11:00-12:30
G42 Uncertainty and Information: Applicantions3Beth Allen
7527 June
11:00-12:30
276 Hierarchies3Sandeep Baliga
7627 June
11:00-12:30
G45 Decision Theory II3Peter Klibanoff
7727 June
11:00-12:30
101 Capital Account3Kala Krishna
7827 June
11:00-12:30
166 General Equilibrium II2Chris Shannon
7927 June
11:00-12:30
G05 Learning and Monetary Policy3Martin Eichenbaum
8027 June
11:00-12:30
3245 Estimating Medical Costs3V. Hotz
8127 June
14:00-15:30
G03 Trade Theory 23Kala Krishna
8227 June
14:00-15:30
1246 Hypothesis testing with time series3Joel Horowitz
8327 June
14:00-15:30
G27 Evidence and Courts of Law3Kathryn Spier
8427 June
14:00-15:30
G44 Real Options3Costis Skiadas
8527 June
14:00-15:30
101 Social and Human Capital3Debraj Ray
8627 June
14:00-15:30
276 Incomplete Contracts and Hold-Up2Sandeep Baliga
8727 June
14:00-15:30
G45 Invited session on Decision Theory3Peter Klibanoff
8827 June
14:00-15:30
165 Invited Session on Strategic pricing and market segmentation3Lars Stole
8927 June
14:00-15:30
G36 Behavioral Economics 33Kent Daniel
9027 June
14:00-15:30
G42 Experiments II: Institutions3Muriel Niederle
9127 June
14:00-15:30
G43 Social Choice I3Herve Moulin
9227 June
14:00-15:30
G05 Structural Models of the Monetary Transmission Mechanism I2Martin Eichenbaum
9327 June
14:00-15:30
166 Microfoundations of Nominal Rigidities3Martin Eichenbaum
9427 June
14:00-15:30
3245 Applications in Microeconometrics3V. Hotz
9527 June
16:00-17:30
G03 Debt3Kala Krishna
9627 June
16:00-17:30
1246 Semi- and nonparametric methods for time series3Joel Horowitz
9727 June
16:00-17:30
G27 Economics of the Legal System3Kathryn Spier
9827 June
16:00-17:30
G45 Topics in Game Theory3Jeff Ely
9927 June
16:00-17:30
G44 Equilibrium Asset Pricing3Costis Skiadas
10027 June
16:00-17:30
101 Family and Children in the Development Process3Debraj Ray
10127 June
16:00-17:30
276 Trade, Contracts and Institutions3Sandeep Baliga
10227 June
16:00-17:30
165 Procurement and regulation3Lars Stole
10327 June
16:00-17:30
G42 Behavioral Economics 23Kent Daniel
10427 June
16:00-17:30
G43 Soical Choice II2Herve Moulin
10527 June
16:00-17:30
G05 Structural Models of the Monetary Transmission Mechanism II2Martin Eichenbaum
10627 June
16:00-17:30
166 Nominal Rigidities: Empirical Evidence2Martin Eichenbaum
10727 June
16:00-17:30
3245 Applications in Forecasting3V. Hotz
10827 June
16:00-17:00
G36 Valuation2Luigi Zingales
10928 June
9:00-10:30
G45 Computational Macroeconomics I3Kenneth Judd
11028 June
9:00-10:30
G03 International Finance3Kala Krishna
11128 June
9:00-10:30
G42 coalitional games3Jeff Ely
11228 June
9:00-10:30
G44 International Finance3Costis Skiadas
11328 June
9:00-10:30
101 Inequality, Poverty and Development3Debraj Ray
11428 June
9:00-10:30
G36 Auction Theory 43Sushil Bikhchandani
11528 June
9:00-10:30
G43 Empirical Labor Economics2Bruce Meyer
11628 June
9:00-10:30
276 Wages and Labor Supply in General Equilibrium3Bruce Meyer
11728 June
9:00-10:30
165 R&D and innovation3Lars Stole
11828 June
9:00-10:30
160 Private Information and Credit Contracting3Larry Jones
11928 June
9:00-10:30
1246 *Recent Advances in Time Series Econometrics3Joel Horowitz
12028 June
9:00-10:30
G05 Topics in Monetary Policy I3Martin Eichenbaum
12128 June
9:00-10:30
166 Optimal Contracting2Luigi Zingales
12228 June
9:00-10:30
G27 Applications of Quantile Regression and Non-Parametric Methods2V. Hotz
12328 June
11:00-12:30
G45 Implementation2Stephen Morris
12428 June
11:00-12:30
1246 New econometric methods3Joel Horowitz
12528 June
11:00-12:30
G42 Convergence to Equilibrium3Jeff Ely
12628 June
11:00-12:30
G44 Asset Pricing I3Costis Skiadas
12728 June
11:00-12:30
G43 Political Economy of Development3Debraj Ray
12828 June
11:00-12:30
276 Topics in Empirical Public Finance3Bruce Meyer
12928 June
11:00-12:30
101 Invited Session on Theory of the Firm2Sandeep Baliga
13028 June
11:00-12:30
G03 Contagion3Kala Krishna
13128 June
11:00-12:30
165 Empirical Innovation3Catherine Wolfram
13228 June
11:00-12:30
G05 Expectations and Monetary Policy3Martin Eichenbaum
13328 June
11:00-12:30
G36 Invited Session on Electricity Markets3Catherine Wolfram
13428 June
11:00-12:30
G36 Axiomatic Mechansim Design 2 (Invited)3William Thomson
13528 June
11:00-12:30
G27 Modelling Business Cycles3V. Hotz
13628 June
14:30-16:00
G43 Coordination in Dynamic Games3Jeff Ely
13728 June
14:30-16:00
G03 Income Distribution and Trade3Kala Krishna
13828 June
14:30-16:00
1246 Semi- and nonparametric estimation and testing3Joel Horowitz
13928 June
14:30-16:00
G45 Computational Macroeconomics II3Kenneth Judd
14028 June
14:30-16:00
G44 Asset Pricing II3Costis Skiadas
14128 June
14:30-16:30
G36 Invited Session on Auction Theory4Sushil Bikhchandani
14228 June
14:30-16:00
101 Renegotiation and Agency3Sandeep Baliga
14328 June
14:30-16:00
276 Dynamics and Financial Markets3Larry Jones
14428 June
14:30-16:00
160 Policy and Growth3Larry Jones
14528 June
14:30-16:30
G42 Experiments III4Muriel Niederle
14628 June
14:30-16:00
165 Quality: Consumption and Competition3Catherine Wolfram
14728 June
14:30-16:00
G05 Monetary Policy Shocks and their Cnsequences: Empirical Evidence3Martin Eichenbaum
14828 June
14:30-16:00
166 Macroeconomic Determinants of Employment1Martin Eichenbaum
14928 June
14:30-16:00
G27 Modeling Exchange Rates3V. Hotz
15028 June
17:00-18:15
TBD Walras-Bowley Lecture1Rakesh Vohra
15129 June
9:00-10:30
G03 International Economics: Theory2Kala Krishna
15229 June
9:00-10:30
276 Intermediate Inputs3Kala Krishna
15329 June
9:00-10:30
G42 Financial econometrics2Joel Horowitz
15429 June
9:00-10:30
G45 Bootstrap and higher-order asymptotics3Joel Horowitz
15529 June
9:00-10:30
G43 Banking3Costis Skiadas
15629 June
9:00-10:30
G44 Asset Allocation4Costis Skiadas
15729 June
9:00-10:30
166 Dynamic markets: mergers, betting and ordered search3Lars Stole
15829 June
9:00-10:30
160 Investment and Firm Behavior2Larry Jones
15929 June
9:00-10:30
101 International Finance: Empirical2Kala Krishna
16029 June
9:00-10:30
165 Empirical Contracting3Catherine Wolfram
16129 June
9:00-10:30
G05 Topics in Monetary Policy II3Martin Eichenbaum
16229 June
9:00-10:30
G36 Modelling Volatility and Uncertainty3V. Hotz
16329 June
11:00-12:30
TBD Presidential Address1Rakesh Vohra
 

163 sessions, 459 papers


 

Program for 2003 North American Summer Meeting of the Econometric Society

Complete List of All Sessions


Session 1: Honest Agents

Session Organizer: Jeff Ely, Northwestern University
Session Chair: Hitoshi Matsushima, University of Tokyo
Date: June 26, 2003
Time: 9:00 - 10:30
Location: G42
 

Does the Monopoly Need to Exclude?
Presented by: Sergei Severinov, Duke University
 

Non-Fully Strategic Information Transmission
Presented by: Marco Ottaviani, London Business School
 

Honesty-Proof Implementation
Presented by: Hitoshi Matsushima, University of Tokyo

Session 2: Corruption and elections

Session Organizer: David Austen-Smith, Northwestern University
Session Chair: Brian Knight, Brown University
Date: June 26, 2003
Time: 9:00 - 10:30
Location: G43
 

The Usefulness of Corruptible Elections
Presented by: Matthew Turner,
 

Intermediaries and Corruption
Presented by: Cagla Okten, Bilkent University
 

The Value of Political Connections: Evidence from Equity Markets During the Bush / Gore 2000 Presidential Election
Presented by: Brian Knight, Brown University

Session 3: Long-memory time-series analysis

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: Yixiao Sun, UCSD
Date: June 26, 2003
Time: 9:00 - 10:30
Location: 1246
 

Testing for structural change in regression with long memory processes
Presented by: Stepana Lazarova, London School of Economics
 

Exact local Whittle estimation of fractionally cointegrated systems
Presented by: Katsumi Shimotsu, University of Essex
 

Adaptive Local Polynomial Whittle Estimation of Long-range Dependence
Presented by: Yixiao Sun, UCSD

Session 4: Transformation and ordered response models

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: Shakeeb Khan, University of Rochester
Date: June 26, 2003
Time: 9:00 - 10:30
Location: G45
 

On Efficient Estimation of the Orderd Response Model
Presented by: mark coppejans, DUKE UNIVERSITY
 

Semiparametric estimation of a panel data transformation Model with Nonstationarity
Presented by: Songnian Chen, HKUST
 

Distribution Free Estimation of Transformation Models tih Covariate Dependent Censoring
Presented by: Shakeeb Khan, University of Rochester

Session 5: Volatility

Session Organizer: Costis Skiadas, Northwestern University
Session Chair: Weipeng Kong, Pennsylvania State University
Date: June 26, 2003
Time: 9:00 - 10:30
Location: G44
 

Volatility Puzzles: A Unified Framework for Gauging Return-Volatility Regressions
Presented by: Hao Zhou, Federal Reserve Board
 

Calibrating an Agent-Based Financial Market
Presented by: Blake LeBaron, Brandeis University
 

An Econometric Model of Credit Spreads with Re-balancing, ARCH, and Jump Effects
Presented by: Weipeng Kong, Pennsylvania State University

Session 6: Portfolios and Unemployment

Session Organizer: Bruce Meyer, NORTHWESTERN UNIVERSITY
Session Chair: James Sullivan, University of Notre Dame
Date: June 26, 2003
Time: 9:00 - 10:30
Location: G27
 

Wealth, Reservation Wages, and Labor Market Transitions in the U.S.: Evidence from the Survey of Income and Program Participation
Presented by: Tricia Gladden, University of Missouri-Columbia
 

Borrowing During Unemployment: Unsecured Debt as a Safety Net
Presented by: James Sullivan, University of Notre Dame
 

Housing Capital Gain, Unemployment Shocks and Second Mortgages
Presented by: Takashi Yamashita,

Session 7: Market entry

Session Organizer: Lars Stole, University of Chicago Grad School of Business
Session Chair: Francisco Ruiz-Aliseda, Kellogg Graduate School of Managament
Date: June 26, 2003
Time: 9:00 - 10:30
Location: G36
 

Modes of Foreign Entry Under Asymmetric Infromation about Potential Technology Spillovers
Presented by: Thomas Müller, University of Munich
 

Licensing in a vertically separated industry
Presented by: Arijit Mukherjee, Keele University
 

Entry Patterns Over the Product Life Cycle
Presented by: Francisco Ruiz-Aliseda, Kellogg Graduate School of Managament

Session 8: Persistence

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Alessandro Rebucci, I.M.F.
Date: June 26, 2003
Time: 9:00 - 10:30
Location: 101
 

Volatile and Persistent Exchange Rates: How Important are Distribution Costs?
Presented by: Yi Jin, The University of Kansas
Discussant: Soyoung Kim, University of Illinois-Urbana-Champaign
 

Capital utilization and habitformation in a small-open economy model
Presented by: Marc-Andre Letendre, McMaster University
Discussant: Ivan Pastine, Bilkent University and CEPR
 

Firm-specific Characteristics and the Repeated Decision to Invest Abroad
Presented by: Michael Ryan, Western Michigan University
Discussant: ROBERTO DUNCAN, CENTRAL BANK OF CHILE

Session 9: Invited Session on Mathematical Economics

Session Organizer: Chris Shannon, UC Berkeley
Session Chair: Costis Skiadas, Northwestern University
Date: June 26, 2003
Time: 9:00 - 10:30
Location: 166
 

Market Clearing and Price Processes with Many Agents
Presented by: Robert Anderson, University of California, Berkeley
 

The Organization of Production, Consumption and Learning
Presented by: William Zame, University of California, L. A.

Session 10: Telecommunications and the Internet

Session Organizer: Catherine Wolfram,
Session Chair: Eugenio J. Miravete, University of Pennsylvania
Date: June 26, 2003
Time: 9:00 - 10:30
Location: 165
 

Selling Online versus Offline
Presented by: Eiichiro Kazumori,
 

Differentiation Strategy and Market Deregulation: Local Telecommunication Entry in the Late 1990s
Presented by: Michael Mazzeo, Northwestern University
 

Competitive Nonlinear Pricing in Duopoly Equilibrium: The Early U.S. Cellular Telephone Industry
Presented by: Eugenio J. Miravete, University of Pennsylvania

Session 11: Consumption and Investment Behavior

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: Larry Filer, Old Dominion University
Date: June 26, 2003
Time: 9:00 - 10:30
Location: G05
 

Testing for Liquidity-Constrained Behavior With Data from Post-Banruptcy Households
Presented by: Larry Filer, Old Dominion University
 

Precautionary Saving and the Sensitivity of Aggregate Consumption
Presented by: Maria Luengo-Prado, Northeastern University

Session 12: Modelling Labor Force Participation Decisions

Session Organizer: V. Hotz, UCLA
Session Chair: Michael Lechner, University of St Gallen
Date: June 26, 2003
Time: 9:00 - 10:30
Location: 3245
 

The Dynamics of Female Labor Supply
Presented by: Hielke Buddelmeyer, IZA
 

Farm Work, Off-Farm Work, and Hired Farm Labor: Estimating a Discrete-Choice Model of French Farm Couples’ Labor Decisions
Presented by: ayal kimhi, hebrew university

Session 13: Reputation in Games (Invited Session)

Session Organizer: Jeff Ely, Northwestern University
Session Chair: Martin W. Cripps,
Date: June 26, 2003
Time: 11:00 - 12:30
Location: G42
 

Imperfect Monitoring and Impermanent Reputations
Presented by: Larry Samuelson, University of Wisconsin
 

Uncertainty about Uncertainty and Delay in Bargaining
Presented by: Yossi Feinberg, Stanford University
 

Reputation with Equal Discounting in Repeated Games with Strictly
Presented by: Martin W. Cripps,

Session 14: Lobbying and special interests

Session Organizer: David Austen-Smith, Northwestern University
Session Chair: Michael Wallerstein,
Date: June 26, 2003
Time: 11:00 - 12:30
Location: G43
 

Protection for Sale: Agenda-Setting and Ratification in the Presence of Lobbying
Presented by: Yeongkwan Song, UW-Madison
 

Fiscal Federalism and Endogenous Lobbies' Formation
Presented by: Luca Colombo, Universita Cattolica del Sacro Cuore
 

Admissions Impossible? Affirmative Action and Self Interest
Presented by: Jimmy Chan, Johns Hopkins University

Session 15: International Investment

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Devashish Mitra, Syracuse University
Date: June 26, 2003
Time: 11:00 - 12:30
Location: G03
 

Overseas Assembly and Country Sourcing Choices
Presented by: Deborah Swenson, University of California, Davis
Discussant: Mercedes Vera-Martin, IMF
 

Multinational Enterprises, international trade, and productivity growth: firm level evidence from the United States
Presented by: Stephen Yeaple, university of pennsylvania
Discussant: Andrea Lamorgese, Banca d'Italia
 

An Information Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment: Volatility, Transparency, and Welfare
Presented by: Itay Goldstein, Duke University
Discussant: Wei-Kang Wong, National University of Singapore

Session 16: Panel data

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: Tiemen Woutersen, University of Western Ontario
Date: June 26, 2003
Time: 11:00 - 12:30
Location: 1246
 

Nonparametric Estimation of Censored And Truncated Regression Models
Presented by: Songnian Chen, HKUST
 

Root-N Consistent Semiparametric Estimator of A Dynamic Panel Data Sample Selection Model
Presented by: George-Levi Gayle, University of Pittsburgh
 

Adaptive Estimation of the Dynamic Linear Model with Fixed Effects
Presented by: Tiemen Woutersen, University of Western Ontario

Session 17: Technical Progress and Development

Session Organizer: Debraj Ray, New York University
Session Chair: Louise Keely, University of Wisconsin
Date: June 26, 2003
Time: 11:00 - 12:30
Location: 101
 

Role of Increasing Returns in the East Asian Economic Growth
Presented by: Jungsoo Park, SUNY at Buffalo
 

Ideas Based Embodied Growth
Presented by: Roberto Samaniego, George Washington University
 

Technology Adoption and Absorption: The Case of China
Presented by: Susan Zhu, Michigan State University

Session 18: Consumption

Session Organizer: Bruce Meyer, NORTHWESTERN UNIVERSITY
Session Chair: Richard Blundell, University College, London
Date: June 26, 2003
Time: 11:00 - 12:30
Location: G27
 

Partial Insurance, Information, and Consumption Dynamics
Presented by: Richard Blundell, University College, London
 

Consumption Mobility in the United States: Evidence from two panel data sets
Presented by: Jonathan Fisher, Bureau of Labor Statistics
 

Measuring the Well-Being of the Poor Using Income and Consumption
Presented by: James Sullivan, University of Notre Dame

Session 19: Decision Theory I

Session Organizer: Peter Klibanoff, Northwestern University
Session Chair: Raphael Giraud, University Paris I
Date: June 26, 2003
Time: 11:00 - 12:30
Location: G45
 

A Representation Theorem for procedure dependent preferences: Implicit Criteria and Salience Measures.
Presented by: Raphael Giraud, University Paris I
 

Decision Making with Imprecise Probabilistic Information
Presented by: JEAN TALLON, UNIVERSITE DE PARIS 1
 

Differentiating Ambiguity and Ambiguity Attitude
Presented by: Fabio Maccheroni, Università Bocconi

Session 20: Monetary Theory

Session Organizer: Larry Jones, University of Minnesota
Session Chair: David Mills, Federal Reserve Board
Date: June 26, 2003
Time: 11:00 - 12:30
Location: 276
 

Mechanism Design and the Role of Enforcement in Freeman's Model of Payments
Presented by: David Mills, Federal Reserve Board

Session 21: Gasoline and Electricity Markets

Session Organizer: Catherine Wolfram,
Session Chair: Jun Ishii, University of California, Irvine
Date: June 26, 2003
Time: 11:00 - 12:30
Location: 165
 

If Economists could set gas prices: Evidence from a field experiment
Presented by: Glen Waddell, University of Oregon
 

Market Power and Network Constraint in a Deregulated Electricity Market
Presented by: In-Koo Cho, University of Illinois
 

An Empirical Study of Regulation-Induced Innovation
Presented by: Jun Ishii, University of California, Irvine

Session 22: Topics in Empirical Macroeconomics

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: Fabio Milani, Princeton University
Date: June 26, 2003
Time: 11:00 - 12:30
Location: G40
 

Structural Factor-Augmented VAR (SFAVAR)
Presented by: Fabio Milani, Princeton University
 

Factor Decomposition of VARMA Model Based on Weighted Forecast-Error Covariances: Applied to Forecasting Monthly U.S. GDP
Presented by: Peter Zadrozny, Bureau of Labor Statistics
 

Bayesian Dynamic Factor Models for Large Datasets: Measuring and Forecasting Macroeconomic Data
Presented by: Pedro Silos, University of Iowa

Session 23: Topics in International Macroeconomics (1)

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: Fabio Ghironi, Boston College
Date: June 26, 2003
Time: 11:00 - 12:30
Location: G05
 

Real, Real Exchange Rate Dynamics
Presented by: Fabio Ghironi, Boston College
 

The US Dollar and Trade Deficit: What Accounts for the Late 1990s?
Presented by: Alessandro Rebucci, I.M.F.

Session 24: Axiomatic Mechanism Design 1

Session Organizer: William Thomson, University of Rochester
Session Chair: Youngsub Chun,
Date: June 26, 2003
Time: 11:00 - 12:30
Location: G36
 

Bargaining Power in Stationary Parallelogram Games
Presented by: Bart Taub, University of Illinois, Urbana-Champaign
 

Efficient Priority Rules
Presented by: Bettina Klaus, Universitat Autònoma de Barcelona
 

A Simple Expression of the Shapley Value for 3-Person Bankruptcy Problems
Presented by: Youngsub Chun,

Session 25: Matching Estimators in Causal Inference

Session Organizer: V. Hotz, UCLA
Session Chair: V. Hotz, UCLA
Date: June 26, 2003
Time: 11:00 - 12:30
Location: 3245
 

Sequential Matching Estimation of Dynamic Causal Models
Presented by: Michael Lechner, University of St Gallen
 

Differential Effects of Welfare to Work Programs: Identification with Unknown Treatment Status
Presented by: Oscar Mitnik, UCLA
 

Using Matching to Estimate Treatment Effects:Data Requirements, Matching Metrics and Monte Carlo Evidence
Presented by: Zhong Zhao, Peking University

Session 26: Invited papers in positive political theory

Session Organizer: David Austen-Smith, Northwestern University
Session Chair: David Austen-Smith, Northwestern University
Date: June 26, 2003
Time: 14:30 - 16:00
Location: G43
 

Belief in a Just World and Redistributive Politics
Presented by: Roland Benabou, Princeton University
Discussant: Nicola Persico, University of Pennsylvania
 

TBD
Presented by: Hulya Eraslan, University of Pennsylvania
 

Accumulation of costly valence in electoral contests
Presented by: Adam Meirowitz, Princeton University

Session 27: Trading Arrangements

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Kamal Saggi,
Date: June 26, 2003
Time: 14:30 - 16:00
Location: G03
 

Exclusive Dealing as a Barrier and as a Catalyst to International Trade
Presented by: Horst Raff, University of Kiel
Discussant: Priya Ranjan, UC-Irvine
 

Preferential Trading Agreements and Multilateral Tariff Cooperation
Presented by: Kamal Saggi,
Discussant: Hideo Konishi, Boston College
 

Feasible Multilateralism and the Effects of Regionalism
Presented by: Emanuel Ornelas, University of Georgia
Discussant: Vitor Trindade, Syracuse University

Session 28: Unit roots and cointegration

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: Hyungsik Moon, University of Southern California
Date: June 26, 2003
Time: 14:30 - 16:00
Location: 1246
 

An LM Test for the Null of Cointegration
Presented by: Feng Zhu, Yale University
 

Residual-Based Cointegration Test for Dependent Panels
Presented by: YOOSOON CHANG, RICE UNIVERSITY
 

Incidental Trends and Power of Panel Unit Root Tests
Presented by: Hyungsik Moon, University of Southern California

Session 29: Asymmetric Information in Financial Markets

Session Organizer: Costis Skiadas, Northwestern University
Session Chair: Tilman Klumpp, Indiana University
Date: June 26, 2003
Time: 14:30 - 16:00
Location: G44
 

Street Lies and 401(k)
Presented by: Marcelo Pinheiro, Princeton University
 

Cladistic Asset Pricing
Presented by: Bart Taub, University of Illinois, Urbana-Champaign
 

Public Communication Devices in Financial Markets
Presented by: Tilman Klumpp, Indiana University

Session 30: Market Performance and Culture

Session Organizer: Bruce Meyer, NORTHWESTERN UNIVERSITY
Session Chair: Muriel Niederle, Stanford University
Date: June 26, 2003
Time: 14:30 - 16:30
Location: G27
 

Efficiency of Thin and Thick Markets
Presented by: Li Gan, University of Texas
 

A Dynamic Model of Cultural Assimilation
Presented by: Istvan Konya, Boston College
 

Market Culture: How Norms Governing Exploding Offers Affect Market Performance
Presented by: Muriel Niederle, Stanford University

Session 31: Uncertainty and Information: Theory

Session Organizer: Beth Allen, University of Minnesota
Session Chair: Lin Peng, Baruch College / CUNY
Date: June 26, 2003
Time: 14:30 - 16:00
Location: G45
 

Contradicting Beliefs and Communication
Presented by: JEAN TALLON, UNIVERSITE DE PARIS 1
 

THE STRUCTURE OF INFORMATION NETWORKS
Presented by: SUDIPTA SARANGI, LOUISIANA STATE UNIVERSITY
Discussant: Beth Allen, University of Minnesota
 

Learning with Information Capacity Constraints
Presented by: Lin Peng, Baruch College / CUNY

Session 32: Adverse selection, certification and intermediation

Session Organizer: Lars Stole, University of Chicago Grad School of Business
Session Chair: Matthew Clements, University of British Columbia
Date: June 26, 2003
Time: 14:30 - 16:00
Location: 165
 

Information Provision by Financial Intermediation under Specialized and One-Stop Banking
Presented by: Joel Shapiro, Universitat Pompeu Fabra
 

Low Quality as a Signal of High Quality
Presented by: Matthew Clements, University of British Columbia

Session 33: Growth and Non-Convexities

Session Organizer: Larry Jones, University of Minnesota
Session Chair: Klaus Wälde, European Commission
Date: June 26, 2003
Time: 14:30 - 16:00
Location: 276
 

Consumption Externalities, Production Externalities and the Accumulation of Capital
Presented by: Wen-Fang Liu, University of Washington
 

One Sector Models, Indeterminacy, and Productive Public Spending
Presented by: Sergey Slobodyan, CERGE-EI
 

Endogenous Business Cycles and Growth
Presented by: Klaus Wälde, European Commission

Session 34: Trade and Integration

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Deborah Swenson, University of California, Davis
Date: June 26, 2003
Time: 14:30 - 16:00
Location: 101
 

Free Trade Networks
Presented by: Hideo Konishi, Boston College
Discussant: Devashish Mitra, Syracuse University
 

Factor price equalization, the factor-use lens, and factor-endowments
Presented by: Yeongkwan Song, UW-Madison
Discussant: Stephen Yeaple, university of pennsylvania
 

Similarity of Endowments and the Factor Price Equalization Condition
Presented by: Kwan YUN, SUNY at Albany
Discussant: Deborah Swenson, University of California, Davis

Session 35: Experiments I: Cooperation

Session Organizer: Muriel Niederle, Stanford University
Session Chair: Markus Mobius, Harvard University
Date: June 26, 2003
Time: 14:30 - 16:00
Location: G42
 

Cooperation under the Shadow of the Future: experimental evidence from infinitely repeated games
Presented by: Pedro Dal Bó, Brown University
 

After You - Endogenous Sequencing in Voluntary Contribution Games
Presented by: Lise Vesterlund, University Pittsburgh
 

The Formation of Social Capital: An Experiment
Presented by: Markus Mobius, Harvard University

Session 36: Topics in International Macroeconomics (2)

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: Raoul Minetti, Michigan State University
Date: June 26, 2003
Time: 14:30 - 16:00
Location: G05
 

A Demographic Explanation of U.S. and Japanese Current Account Behavior
Presented by: Espen Henriksen, GSIA, CMU
 

Domestic and Foreign Lenders and International Business Cycles
Presented by: Raoul Minetti, Michigan State University

Session 37: Fiscal Policy

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: Troy Davig, College of William and Mary
Date: June 26, 2003
Time: 14:30 - 16:00
Location: 166
 

Regime-Switching Fiscal Policy in General Equilibrium
Presented by: Troy Davig, College of William and Mary
 

Endogenous Stabilizers and the Macroeconomy
Presented by: Stuart Fowler, Middle Tennessee State Univ
 

Regional Inflation in a Currency Union: Fiscal Policy vs. Fundamentals
Presented by: Margarida Duarte, Federal Reserve Bank of Richmond

Session 38: Entreprenurship

Session Organizer: Luigi Zingales, University of Chicago
Session Chair: Mariassunta Giannetti, Stockholm School of Economics
Date: June 26, 2003
Time: 14:30 - 16:00
Location: G36
 

Does prestige matter more than profits? Evidence from Entrepreneurial choices
Presented by: Mariassunta Giannetti, Stockholm School of Economics
 

Investor Protection and Business Creation
Presented by: Tuomas Takalo, Bank of Finland
 

Syndication of Venture Capital Deals
Presented by: Dirk Hackbarth, Indiana University

Session 39: Structural Estimation of Equilibrium Outcomes

Session Organizer: V. Hotz, UCLA
Session Chair: John Rust, University of Maryland
Date: June 26, 2003
Time: 14:30 - 16:00
Location: 3245
 

Estimation of Hierarchical and Non-Hierarchical Equilibrium Models of Local Jurisdictions
Presented by: Michael Peress,
 

Gender Discrimination Estimation in a Search Model with Matching and Bargaining
Presented by: Luca Flabbi, New York University
 

Stochastic Private Value Auction Model: Identification and Estimation
Presented by: Jingfeng Lu, University of Southern California

Session 40: Computational Methods in Games

Session Organizer: Kenneth Judd, Hoover Institution
Session Chair: Kenneth Judd, Hoover Institution
Date: June 26, 2003
Time: 16:30 - 18:00
Location: G45
 

The Economic Value of the Stolen Base
Presented by: Theodore Turocy, Texas A&M University
 

Goodwill and Awareness Advertising: Implications for Industry Dynamics
Presented by: Sarit Markovich, Tel-Aviv University
 

Foundations of Markov Perfect Industry Dynamics: Existence, Multiplicity, and Incomplete Information
Presented by: MA SATTERTHWAITE, NORTHWESTERN UNIV
 

Continuous-Time, Jump Process Games with Discrete States
Presented by: ulrich doraszelski, hoover institution

Session 41: Information aggregation,preference aggregation and voting

Session Organizer: David Austen-Smith, Northwestern University
Session Chair: Timothy Feddersen, Northwestern Universuty
Date: June 26, 2003
Time: 16:30 - 18:00
Location: G43
 

Smallness of Invisible Dictators
Presented by: Ricard Torres, ITAM
 

Putting Your Ballot Where Your Mouth Is: An Analysis of Collective Choice with Communication
Presented by: Leeat Yariv, University of California, Los Angeles
 

Electoral Competition with Privately-Informed Candidates
Presented by: Francesco Squintani, University of Rochester

Session 42: Forecasting and trends

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: Ted Juhl, University of Kansas
Date: June 26, 2003
Time: 16:30 - 18:00
Location: 1246
 

A Nonparametric Test for Changing Trends
Presented by: Ted Juhl, University of Kansas
 

New Developments in Latent Class Choice Models
Presented by: Jay Magidson, Statistical Innovations Inc.
 

Tests of Conditional Predictive Ability
Presented by: Raffaella Giacomini, University of California, San Diego

Session 43: Contractual Structure, Finance and Development

Session Organizer: Debraj Ray, New York University
Session Chair: Eric Van Tassel, Florida Atlantic University
Date: June 26, 2003
Time: 16:30 - 18:00
Location: 101
 

Evidence on the Relationship between Incentives and Exogenous Risk
Presented by: Luis Braido, Getulio Vargas Foundation
 

Group lending with endogenous social collateral
Presented by: Beatrix Paal, Stanford University
 

Household Bargaining and Microfinance
Presented by: Eric Van Tassel, Florida Atlantic University

Session 44: Auction Theory 1

Session Organizer: Sushil Bikhchandani, UNIV CALIFORNIA
Session Chair: Julian Jamison, Northwestern University
Date: June 26, 2003
Time: 16:30 - 18:00
Location: G36
 

Optimal Information Disclosure in Auctions: The Handicap Auction
Presented by: Peter Eso, Northwestern Unviersity
 

Optimal selling mechanisms with costly information acquisition
Presented by: Yossi Spiegel, Tel Aviv University
 

Private Information in Repeated Auctions
Presented by: Julian Jamison, Northwestern University

Session 45: Taxes, Wages and Labor Supply

Session Organizer: Bruce Meyer, NORTHWESTERN UNIVERSITY
Session Chair: Barry Hirsch, Trinity University
Date: June 26, 2003
Time: 16:30 - 18:00
Location: G27
 

The Effects of Progressive Taxation on Labor Supply when Hours and Wages are Jointly Determined
Presented by: Eric French, Federal Reserve Bank of Chicago
 

Estimating a Continuous Hours Structural Model of Family Labor Supply with Taxes using a Direct Utility Function
Presented by: Bradley Heim, Duke University
 

Why Do Part-Time Workers Earn Less? The Role of Worker and Job Skills
Presented by: Barry Hirsch, Trinity University

Session 46: Vertical integration

Session Organizer: Lars Stole, University of Chicago Grad School of Business
Session Chair: Jakub Kastl, Northwestern University
Date: June 26, 2003
Time: 16:30 - 18:00
Location: 165
 

Do Vertical Mergers Facilitate Upstream Collusion?
Presented by: Volker Nocke, University of Pennsylvania
 

Downstream competition between an upstream supplier and an independent downstream firm
Presented by: Yaron Yehezkel, Tel Aviv University
 

Vertical Hierarchies as a Collusive Device
Presented by: Jakub Kastl, Northwestern University

Session 47: Demography, History and Institutions

Session Organizer: Larry Jones, University of Minnesota
Session Chair: Graziella Bertocchi, University of Modena
Date: June 26, 2003
Time: 16:30 - 18:00
Location: 276
 

FROM BAD INSTITUTIONS TO WORSE: THE ROLE OF HISTORY IN DEVELOPMENT
Presented by: Rui Zhao, University of Illinois Urbana-Champaign
 

Socioeconomic Mobility Beliefs and Fertility
Presented by: Louise Keely, University of Wisconsin
 

The law of primogeniture and the transition from landed aristocracy to industrial democracy
Presented by: Graziella Bertocchi, University of Modena

Session 48: Behavioral Economics 1

Session Organizer: Kent Daniel,
Session Chair: Nick Barberis, University of Chicago
Date: June 26, 2003
Time: 16:30 - 18:00
Location: G42
 

A Survey of Behavioral Finance
Presented by: Nick Barberis, University of Chicago
 

Optimal Expectations
Presented by: Markus Brunnermeier, Princeton University
 

Individual Preferences, Monetary Gambles and the Equity Premium
Presented by: Ming Huang,

Session 49: General Equilibrium I

Session Organizer: Chris Shannon, UC Berkeley
Session Chair: Camelia Bejan, University of Minnesota
Date: June 26, 2003
Time: 16:30 - 18:00
Location: 166
 

Generic Determinacy of Equilibria with Local Substitution
Presented by: Frank Riedel, Stanford University
 

Labor Market Turnover and Business Cycle Dynamics
Presented by: Robert Hussey, S.J., Georgetown University
 

The Objective of a Privately Owned Firm under Monopolistic Competition
Presented by: Camelia Bejan, University of Minnesota

Session 50: Panel on International Trade

Session Organizer: Kala Krishna, Pennsylvania State University
Date: June 26, 2003
Time: 16:30 - 18:00
Location: G03
 

trade panel discussion1
Presented by: Jonathan Eaton, New York University
 

trade panel discussion
Presented by: Dalia Marin, University of Munich
 

trade panel discussion
Presented by: James Tybout, Pennsylvania State University

Session 51: No Session

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Date: June 26, 2003
Time: 16:30 - 18:00
Location: G40

Session 52: Estimating Duration and Panel Data Models

Session Organizer: V. Hotz, UCLA
Session Chair: Badi Baltagi, Texas A&M University
Date: June 26, 2003
Time: 16:30 - 18:00
Location: 3245
 

Semiparametric Analysis of Generalized Panel Data: An Application
Presented by: debasri mukherjee, western michigan university
 

Semiparametric Estimation of Panel Data Duration Models with Fixed Effects
Presented by: Sokbae Lee, University College London
 

Pharmaceutical Development Phases: a Duration Analysis
Presented by: Albert Metz, Congressional Budget Office

Session 53: Computational Finance

Session Organizer: Kenneth Judd, Hoover Institution
Session Chair: Kenneth Judd, Hoover Institution
Date: June 27, 2003
Time: 9:00 - 10:30
Location: G45
 

Spatial Interpolation for Lattice Option Pricing
Presented by: Vladislav Karguine, Cornerstone Research
 

Time-Changed Processes, the Fast Fourier Transform and Cauchy's Theorem
Presented by: Oscar Gutierrez Arnaiz, University of Zaragoza
 

Equilibrium in a dynamic limit order market
Presented by: Christine Parlour, Carnegie-Mellon University

Session 54: Game Theory Foundations (Invited Session)

Session Organizer: Jeff Ely, Northwestern University
Session Chair: Adam Brandenburger, New York University
Date: June 27, 2003
Time: 9:00 - 10:30
Location: G42
 

Rationalization and Incomplete Information
Presented by: Marciano Siniscalchi, Northwestern University
 

Impact of Higher-Order Uncertainty
Presented by: Jonathan Weinstein, MIT
 

Some Conflicting Requirements on the Analysis of Games
Presented by: Adam Brandenburger, New York University

Session 55: Trade and Geography

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Itay Goldstein, Duke University
Date: June 27, 2003
Time: 9:00 - 10:30
Location: G03
 

Comparative Advantage, Economic Geography and Specialisation in European Regions
Presented by: Mercedes Vera-Martin, IMF
Discussant: Deborah Swenson, University of California, Davis
 

Space, Factors and Spillovers
Presented by: Andrea Lamorgese, Banca d'Italia
Discussant: Stephen Yeaple, university of pennsylvania

Session 56: Voting and politics

Session Organizer: Roger Myerson, University of Chicago
Session Chair: Ella Segev, Tel Aviv University
Date: June 27, 2003
Time: 9:00 - 10:30
Location: G43
 

Do candidates serve parties interests? Party polarization as a discipline device
Presented by: cecilia testa, royal holloway university of london
 

Political Regimes, Party Cohesion and Constituency Service
Presented by: Scott Ashworth, Harvard University
 

Would Rational Voters Acquire Costly Information?
Presented by: Cesar Martinelli, ITAM

Session 57: Liquidity in Financial Markets

Session Organizer: Costis Skiadas, Northwestern University
Session Chair: Matthew Pritsker, Federal Reserve Board of Governors
Date: June 27, 2003
Time: 9:00 - 10:30
Location: G44
 

Momentum, Liquidity Risk, and Limits to Arbitrage
Presented by: Ronnie Sadka, Northwestern University
 

Flight to Quality, Flight to Liquidity, and the Pricing of Risk
Presented by: Dimitrios Vayanos, MIT Sloan School Of Management
 

Large Investors: Implications for Equilibrium Asset Returns, Shock Absorption, and Liquidity
Presented by: Matthew Pritsker, Federal Reserve Board of Governors

Session 58: Auction Theory 2

Session Organizer: Sushil Bikhchandani, UNIV CALIFORNIA
Session Chair: Markus Mobius, Harvard University
Date: June 27, 2003
Time: 9:00 - 10:30
Location: G36
 

Speculation in Second-Price Auctions with Resale
Presented by: Thomas Troger, UCSB
 

Convergence of a Bilateral Matching and Bargaining Market with Two-sided Incomplete Information to Perfect Competition
Presented by: MA SATTERTHWAITE, NORTHWESTERN UNIV
 

Large Auctions
Presented by: Markus Mobius, Harvard University

Session 59: Contracts

Session Organizer: Bruce Meyer, NORTHWESTERN UNIVERSITY
Session Chair: Tara Sinclair, Washington University
Date: June 27, 2003
Time: 9:00 - 10:30
Location: G27
 

Preference-based assortative matching and household bargaining
Presented by: Stephen Lich-Tyler, University of Michigan
 

Aligning Ambition and Incentives: Optimal Contracts with Career Concerns
Presented by: Alexander Koch, University of Bonn
 

Searching for Better Prospects: Endogenizing Falling Job Tenure and Pension Coverage
Presented by: Tara Sinclair, Washington University

Session 60: Organizations and Finance

Session Organizer: Sandeep Baliga, Northwestern University
Session Chair: Yaron Leitner, Federal Reserve Bank of Philadelphia
Date: June 27, 2003
Time: 9:00 - 10:30
Location: 276
 

Optimal Incentive Structures for the Board of Directors: A Hierarchical Agency Approach
Presented by: Praveen Kumar, University of Houston
 

Hard work vs. good intentions: Stock options as compensation
Presented by: Glen Waddell, University of Oregon
 

Fragile Financial Networks
Presented by: Yaron Leitner, Federal Reserve Bank of Philadelphia

Session 61: Pricing dynamics

Session Organizer: Lars Stole, University of Chicago Grad School of Business
Session Chair: Tom Wiseman, University of Texas at Austin
Date: June 27, 2003
Time: 9:00 - 10:30
Location: 165
 

Cartel Pricing Dynamics in the Presence of an Antitrust Authority
Presented by: Joseph Harrington, Johns Hopkins University
 

Cost of Delay and Endogenous Price Leadership
Presented by: Tuvana Pastine, Bilkent University and CEPR
 

Capacity Choice Counters the Coase Conjecture
Presented by: Tom Wiseman, University of Texas at Austin

Session 62: Instability

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Kenshi Taketa, University of Wisconsin - Madison
Date: June 27, 2003
Time: 9:00 - 10:30
Location: 101
 

Incomplete Intertemporal Consumption Smoothing and Incomplete Risksharing
Presented by: Soyoung Kim, University of Illinois-Urbana-Champaign
Discussant: Michael Ryan, Western Michigan University
 

Panic, Boom and Bust: Excess Demand, Devaluations and the Real Effects of Speculative Attacks
Presented by: Ivan Pastine, Bilkent University and CEPR
Discussant: Yi Jin, The University of Kansas
 

Exploring the Implications of Official Dollarization on Macroeconomic Volatility
Presented by: ROBERTO DUNCAN, CENTRAL BANK OF CHILE
Discussant: Marc-Andre Letendre, McMaster University

Session 63: Neuroeconomics

Session Organizer: Chris Shannon, UC Berkeley
Session Chair: Paolo Ghirardato, Universita di Torino
Date: June 27, 2003
Time: 9:00 - 10:30
Location: 166
 

Towards an Economic Theory of Neuroeconomics
Presented by: Aldo Rustichini, University of Minnesota
 

Spatial panel time series approaches to inference in brain imaging studies: How econometrics contributes to the new science of Neuroeconomics
Presented by: Daniel Houser, George Mason University

Session 64: *Empirical Likelihood Methods and Related Topics I

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: Yuichi Kitamura, University of Pennsylvania
Date: June 27, 2003
Time: 9:00 - 10:30
Location: 1246
 

Higher-Order Properties and Moment Selection for Generalized Emprical Likelihood
Presented by: Whitney Newey, MIT
 

New Applications of Generalized Empirical Likelihood
Presented by: Richard Spady, Northwestern University
 

Nonparametric Likelihood for Mixture Models
Presented by: Yuichi Kitamura, University of Pennsylvania

Session 65: Monetary Policy and Inflation

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: Randal Verbrugge,
Date: June 27, 2003
Time: 9:00 - 10:30
Location: G05
 

Mis-Specification in Phillips Curve Regressions: Quantifying Frequency Dependence in This Relationship While Allowing for Feedback
Presented by: Randal Verbrugge,
 

Asymmetric Common Trends: An Application of MOnetary Policy in a Markov-switching VECM
Presented by: Michael Owyang, Federal Reserve Bank of Saint Louis
 

Structural Breaks in Inflation Dynamics
Presented by: Luca Benati, Bank of England

Session 66: Modeling Disability and Remarriage

Session Organizer: V. Hotz, UCLA
Session Chair: Sokbae Lee, University College London
Date: June 27, 2003
Time: 9:00 - 10:30
Location: 3245
 

Disability and Employment: Reevaluating the Evidence in Light of Misreporting Errors
Presented by: John Pepper, University of Virginia
 

How Large are the Clasification Errors in the Social Security Disability Award Process?
Presented by: Hugo Benitez-Silva, State University of New York
 

Love at What Price? Measuring the Cost of not Remarrying using Social Security Widow Benefits
Presented by: Michael Conlin, Syracuse University
 

Disability and Employment: Reevaluating the Evidence in Light of Misreporting Errors
Presented by: John Pepper, University of Virginia

Session 67: Price dispersion, price discrimination, and uncertainty

Session Organizer: Lars Stole, University of Chicago Grad School of Business
Session Chair: Ettore Damiano, University of Toronto
Date: June 27, 2003
Time: 10:00 - 11:30
Location: 165
 

Product Variety and Demand Uncertainty
Presented by: James Dana, Northwestern University
 

The Revenue Consequences of Vaccines Versus Drug Treatments
Presented by: Christopher Snyder, George Washington University
 

Price Discrimination in Matching Markets
Presented by: Ettore Damiano, University of Toronto

Session 68: Empirical Trade 2

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Deborah Swenson, University of California, Davis
Date: June 27, 2003
Time: 11:00 - 1:30
Location: G03
 

International Trade in Used Goods: The Global Adventures of Japanese Cars
Presented by: Sofronis Clerides, University of Cyprus
Discussant: Deborah Swenson, University of California, Davis
 

Foreign Direct Investment and Pollution Havens: Evaluating the Evidence from China
Presented by: Mary Lovely,
Discussant: Meredith Crowley, Federal Reserve Bank of Chicago
 

The Impact of US Special Import Restraints on World Trade Flows
Presented by: Meredith Crowley, Federal Reserve Bank of Chicago

Session 69: Empirical likelihood and related topics (II)

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: mehmet caner, university of pittsburgh
Date: June 27, 2003
Time: 11:00 - 12:30
Location: 1246
 

Empirical Likelihood, GMM, Serial Correlation, and Asymptotic Bias
Presented by: Stanislav Anatolyev, New Economic School
 

Penalized empirical likelihood estimation of conditional moment restriction models with unknown functions
Presented by: Taisuke Otsu, University of Wisconsin-Madison
 

Exponential tilting with weak identification
Presented by: mehmet caner, university of pittsburgh

Session 70: Contracts, Legal Institutions, and Ex Post Efficiency

Session Organizer: Kathryn Spier,
Session Chair: Joel Watson, UCSD
Date: June 27, 2003
Time: 11:00 - 12:30
Location: G27
 

A Rent Extraction Theory of Right of First Refusal
Presented by: Albert Choi, University of Virginia
 

The Role of Exclusive Contracts in Facilitating Market Transactions
Presented by: Niko Matouschek, Kellogg School of Management
 

Fast Bargaining in Bankruptcy: A US/UK Comparison
Presented by: David Benjamin, University of Minnesota
 

Are There Too Many Entrepreneurs? A Model of Client-Based Entrepreneurship
Presented by: Joel Watson, UCSD

Session 71: Bargaining and politics

Session Organizer: Roger Myerson, University of Chicago
Session Chair: Cesar Martinelli, ITAM
Date: June 27, 2003
Time: 11:00 - 12:30
Location: G43
 

Provincial Protectionism
Presented by: Konstantin Sonin, New Economic School/CEFIR
 

Coase and the AumanCoase and Aumann-Myerson's solution for Network Formation Games: Misleading Policy Implications and not Agreed Upon Institutions
Presented by: Ricardo Nieva, Concordia University
 

ESCALATION AND DELAY IN PROTRACTED INTERNATIONAL CONFLICTS
Presented by: Ella Segev, Tel Aviv University

Session 72: Corporate Aspects of Asset Pricing

Session Organizer: Costis Skiadas, Northwestern University
Session Chair: Max Bruche, London School of Economics
Date: June 27, 2003
Time: 11:00 - 12:30
Location: G44
 

Corporate Investment and Asset Pricing Dynamics: Implications for the Cross Section of Returns
Presented by: Murray Carlson, University of British Columbia
 

Corporate Finance and the Term Structure of Interest Rates
Presented by: Arvind Krishnamurthy,
 

Corporate Bond Prices and Co-ordination Failure
Presented by: Max Bruche, London School of Economics

Session 73: Auction Theory 3

Session Organizer: Sushil Bikhchandani, UNIV CALIFORNIA
Session Chair: Ian Gale, Georgetown University
Date: June 27, 2003
Time: 11:00 - 12:30
Location: G36
 

Bribing and Signalling in Second Price Auctions
Presented by: James Schummer, Northwestern University
 

"Monotonic and Non-Monotonic Auctions"
Presented by: Humberto Moreira, FGV
 

Auctions with Nonlinear Payoffs and Multidimensional Types
Presented by: Ian Gale, Georgetown University

Session 74: Uncertainty and Information: Applicantions

Session Organizer: Beth Allen, University of Minnesota
Session Chair: John Conlon, Univ of Mississippi
Date: June 27, 2003
Time: 11:00 - 12:30
Location: G42
 

On the optimal design of unfair contests
Presented by: Gerd Muehlheusser,
 

Reputation and Managerial Truth-Telling as Self-Insurance
Presented by: Adlai Fisher, University of British Columbia
 

Simple Finite Horizon Bubbles Robust to Higher-Order Knowledge
Presented by: John Conlon, Univ of Mississippi

Session 75: Hierarchies

Session Organizer: Sandeep Baliga, Northwestern University
Session Chair: Marcelo Rezende, University of Chicago
Date: June 27, 2003
Time: 11:00 - 12:30
Location: 276
 

Strategic Information Transmission and Organization
Presented by: Kazumi Hori, University of Wisconsin-Madison
 

Inequality and Organization in a Knowledge Economy
Presented by: Luis Garicano, University of Chicago
 

Credible Managerial Vision
Presented by: Marcelo Rezende, University of Chicago

Session 76: Decision Theory II

Session Organizer: Peter Klibanoff, Northwestern University
Session Chair: Wojciech Olszewski, Northwestern University
Date: June 27, 2003
Time: 11:00 - 12:30
Location: G45
 

Risk and Risk Aversion when states of nature matter
Presented by: Jan Werner, University of Minnesota
 

Precedence Relations and Desirability of Stochastic Changes
Presented by: W. Chiu,
 

Preferences over Sets of Lotteries
Presented by: Wojciech Olszewski, Northwestern University

Session 77: Capital Account

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Marcia Leon, Central Bank of Brazil
Date: June 27, 2003
Time: 11:00 - 12:30
Location: 101
 

Transparency and International Investor Behavior
Presented by: Gaston Gelos, International Monetary Fund
Discussant: Cesar Calderon, Central Bank of Chile
 

Capital Account Openness and the Varieties of Growth Experience
Presented by: Michael Klein, Fletcher School
Discussant: Chander Kant, Seton Hall University
 

Productivity Shocks and Consumption Smoothing in the International Economy
Presented by: Talan Iscan, Dalhousie University
Discussant: Michael Klein, Fletcher School

Session 78: General Equilibrium II

Session Organizer: Chris Shannon, UC Berkeley
Session Chair: Hans-Juergen Salchow, University of Bonn
Date: June 27, 2003
Time: 11:00 - 12:30
Location: 166
 

Equations on the Derivatives of an Initial Endowment-Competitive Equilibrium Mapping of an Exchange Economy
Presented by: Steven Williams, University of Illinois
 

Locally Convex Firms
Presented by: Hans-Juergen Salchow, University of Bonn

Session 79: Learning and Monetary Policy

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: John Williams, Federal Reserve Bank of San Francisco
Date: June 27, 2003
Time: 11:00 - 12:30
Location: G05
 

Parameter Uncertainty and the Central Bank’s Objective Function
Presented by: John Williams, Federal Reserve Bank of San Francisco
 

Learning an Optimal Policy in Potentially Mis-specified Models
Presented by: Richard Dennis, Federal Reserve Bank of San Francisco
 

Optimal Monetary Policy Rules Under Imperfect Commitment
Presented by: Hakan Kara, Central Bank of Turkey

Session 80: Estimating Medical Costs

Session Organizer: V. Hotz, UCLA
Session Chair: Eric French, Federal Reserve Bank of Chicago
Date: June 27, 2003
Time: 11:00 - 12:30
Location: 3245
 

Longitudinal Analysis of Censored Medical Cost Data
Presented by: Onur Baser, Medstat
 

Nonparametric Tests of Cost Differences Among US Hospitals
Presented by: Teresa Harrison, Drexel University
 

On the Distribution and Dynamics of Health Costs
Presented by: Eric French, Federal Reserve Bank of Chicago

Session 81: Trade Theory 2

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Kamal Saggi,
Date: June 27, 2003
Time: 14:00 - 15:30
Location: G03
 

Globalization vs Skill-biased technological change: Implications for Unemployment and Wage Inequality
Presented by: Priya Ranjan, UC-Irvine
Discussant: Horst Raff, University of Kiel
 

Rules of Origin in The Long Run
Presented by: Kala Krishna, Pennsylvania State University
Discussant: Kamal Saggi,
 

Openness and Productivity
Presented by: Vitor Trindade, Syracuse University
Discussant: Emanuel Ornelas, University of Georgia

Session 82: Hypothesis testing with time series

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: Yoon-Jin Lee, Cornell University
Date: June 27, 2003
Time: 14:00 - 15:30
Location: 1246
 

Optimal tests for nested model selection with underlying parameter instability
Presented by: Barbara Rossi, Duke University
 

Testing Conditional Independence via Empirical Likelihood
Presented by: Liangjun Su, University of California, San Diego
 

Generalized Spectral Tests for Conditional Mean Specification in Time Series with Conditional Heteroskedasticity of Unknown Form
Presented by: Yoon-Jin Lee, Cornell University

Session 83: Evidence and Courts of Law

Session Organizer: Kathryn Spier,
Session Chair: Kathryn Spier,
Date: June 27, 2003
Time: 14:00 - 15:30
Location: G27
 

What is the Benefit of Legal Representation?
Presented by: Sergei Severinov, Duke University
 

Speaking Up: A Model of Judicial Dissent and Discretionary Review
Presented by: Andrew Daughety, Vanderbilt University
 

Evidence Arbitrage: The Fabrication of Evidence and the Verifiability of Contract Performance
Presented by: Chris Sanchirico, University of Virginia

Session 84: Real Options

Session Organizer: Costis Skiadas, Northwestern University
Session Chair: Francisco Ruiz-Aliseda, Kellogg Graduate School of Managament
Date: June 27, 2003
Time: 14:00 - 15:30
Location: G44
 

The Non-Neutrality of Debt in Investment Timing: A New NPV Rule
Presented by: Tarun Sabarwal, University of Texas
 

BARRIERS AND OPTIMAL INVESTMENT RULES
Presented by: Jean-Daniel Saphores, University of California Irvine
 

Real Options with Unknown-Date Events
Presented by: Francisco Ruiz-Aliseda, Kellogg Graduate School of Managament

Session 85: Social and Human Capital

Session Organizer: Debraj Ray, New York University
Session Chair: Maristella Botticini, Boston University
Date: June 27, 2003
Time: 14:00 - 15:30
Location: 101
 

Social Embeddedness, Modernization and Markets: A Small World Approach to Economic Governance
Presented by: Raja Kali, University of Arkansas
 

Learning the Master's Trade: Apprenticeship and Firm-Specific Human Capital
Presented by: Garth Frazer, University of Toronto
 

From Farmers to Merchants: A Human Capital Interpretation of Jewish Economic History
Presented by: Maristella Botticini, Boston University

Session 86: Incomplete Contracts and Hold-Up

Session Organizer: Sandeep Baliga, Northwestern University
Session Chair: Andreas Roider, University of Bonn, Germany
Date: June 27, 2003
Time: 14:00 - 15:30
Location: 276
 

A Solution to the Hold-Up Problem Involving Gradual Investment
Presented by: Christopher Snyder, George Washington University
 

Delegation as an Optimal Incomplete Contract
Presented by: Andreas Roider, University of Bonn, Germany

Session 87: Invited session on Decision Theory

Session Organizer: Peter Klibanoff, Northwestern University
Session Chair: Paolo Ghirardato, Universita di Torino
Date: June 27, 2003
Time: 14:00 - 15:30
Location: G45
 

Robustifying the Classical Model of Risk Preferences and Beliefs
Presented by: Mark Machina, University of California, San Diego
 

Ultramodular functions
Presented by: Massimo Marinacci, Universita' di Torino
 

The Impact Of Ambiguity On Prices And Allocations In Competitive Financial Markets: Theory And Experiments
Presented by: Paolo Ghirardato, Universita di Torino

Session 88: Invited Session on Strategic pricing and market segmentation

Session Organizer: Lars Stole, University of Chicago Grad School of Business
Session Chair: Curtis Taylor, Duke University
Date: June 27, 2003
Time: 14:00 - 15:30
Location: 165
 

A Model of Add-on Pricing
Presented by: Glenn Ellison, M I T E52-274B
 

Price Discrimination, Imperfect Competition and Market Penetration
Presented by: Lars Stole, University of Chicago Grad School of Business
 

Privacy in Competitive markets
Presented by: Curtis Taylor, Duke University

Session 89: Behavioral Economics 3

Session Organizer: Kent Daniel,
Session Chair: Ofer Azar, Northwestern University
Date: June 27, 2003
Time: 14:00 - 15:30
Location: G36
 

Are Investors Credulous?
Presented by: Jianping Mei, New York University
 

Projection Bias in Catalogue Orders
Presented by: Michael Conlin, Syracuse University
 

What Sustains Social Norms and How They Evolve? The Case of Tipping
Presented by: Ofer Azar, Northwestern University

Session 90: Experiments II: Institutions

Session Organizer: Muriel Niederle, Stanford University
Session Chair: Michael Price, University of Maryland
Date: June 27, 2003
Time: 14:00 - 15:30
Location: G42
 

Sealed Bid Auctions with Ambiguity: Theory and Experiments
Presented by: Yan Chen, University of Michigan
 

Endogenous institutions in social dilemmas – Cooperation, reward and punishment
Presented by: Martin Kocher, University of Innsbruck
 

Conspiracies and Secret Price Discounts in the Marketplace: Some Initial Evidence from the Field
Presented by: Michael Price, University of Maryland

Session 91: Social Choice I

Session Organizer: Herve Moulin, Rice University
Session Chair: Szilvia Papai, University of Notre Dame
Date: June 27, 2003
Time: 14:00 - 15:30
Location: G43
 

Social orderings for the assignment of indivisible objects
Presented by: Francois Maniquet, Institute for Advanced Study
 

Unique Cores in General Matching
Presented by: Szilvia Papai, University of Notre Dame
 

Characterization of Additive Cost Sharing Methods
Presented by: Rakesh Vohra, NORTHWESTERN UNIVERSITY

Session 92: Structural Models of the Monetary Transmission Mechanism I

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: J. David Lopez-Salido, Bank of Spain
Date: June 27, 2003
Time: 14:00 - 15:30
Location: G05
 

Monetary Policy Implications of Endogenous Capital Accumulation
Presented by: J. David Lopez-Salido, Bank of Spain
 

Expectations and the Liquidity Effect
Presented by: Tiago Cavalcanti, Universidade Nova de Lisboa

Session 93: Microfoundations of Nominal Rigidities

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: Henry Siu, UNIVERSITY OF BRITISH COLUMBIA
Date: June 27, 2003
Time: 14:00 - 15:30
Location: 166
 

State Dependent Pricing and Business Cycle Asymmetries
Presented by: Henry Siu, UNIVERSITY OF BRITISH COLUMBIA
 

Linking Individual and Aggregate Price Changes
Presented by: Attila Ratfai,
 

Optimising Microfoundations for Observed Inflation Persistence
Presented by: Richard Mash, Oxford University

Session 94: Applications in Microeconometrics

Session Organizer: V. Hotz, UCLA
Session Chair: Ahmed Khwaja, Duke University
Date: June 27, 2003
Time: 14:00 - 15:30
Location: 3245
 

Abortion and Child Outcomes
Presented by: Aphichoke Kotikula, Johns Hopkins University
 

Peer effects and selection effects in youth smoking
Presented by: Brian Krauth, Simon Fraser University
 

Addicted to Love? A Dynamic Model of Teen Sex and Fertility
Presented by: Ahmed Khwaja, Duke University

Session 95: Debt

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Rajesh singh, iowa state university
Date: June 27, 2003
Time: 16:00 - 17:30
Location: G03
 

Reputation, Debt and Policy Conditionality
Presented by: Rodney Ramcharan, International Monetary Fund
Discussant: Rajesh singh, iowa state university
 

Conditional Aid, Sovereign Debt, and Debt Relief
Presented by: Tito Cordella, INTERNATIONAL MONETARY FUND
Discussant: Shu Wu, The University of Kansas
 

Default Risk with Dollarized Liabilities
Presented by: Cristina Arellano, Duke University
Discussant: Carsten Nielsen, University Cattolica

Session 96: Semi- and nonparametric methods for time series

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: Xiaohong Chen, New York University
Date: June 27, 2003
Time: 16:00 - 17:30
Location: 1246
 

Semiparametric Multivariate GARCH Models
Presented by: jeroen rombouts, CORE
 

More efficient kernel estimation in nonparametric regression with autocorrelated errors
Presented by: Zhijie Xiao, UNIVERSITY OF ILLINOIS
 

Estimation of Copula-Based Semiparametric Time Series Models
Presented by: Xiaohong Chen, New York University

Session 97: Economics of the Legal System

Session Organizer: Kathryn Spier,
Session Chair: Kathryn Spier,
Date: June 27, 2003
Time: 16:00 - 17:30
Location: G27
 

Chilling, Settlement, and the Accuracy of the Legal System
Presented by: Abraham Wickelgren, Federal Trade Commission
 

Split-Award Tort Reform, Firm's Level of Care, and Litigation Outcomes: A Theoretical Investigation
Presented by: Claudia Landeo, University of Alberta
 

The impact of heterogeneity on the optimal self-reporting scheme
Presented by: Markus Walzl, University of Aachen

Session 98: Topics in Game Theory

Session Organizer: Jeff Ely, Northwestern University
Session Chair: Burkhard Schipper, Bonn Graduate School of Economics
Date: June 27, 2003
Time: 16:00 - 17:30
Location: G45
 

Unequal Connections
Presented by: Sumit Joshi, George Washington University
 

An Extension of the Aumann-Myerson Solution for Reasonable Empty Core Games
Presented by: Ricardo Nieva, Concordia University
 

Multi-Person Unawareness
Presented by: Burkhard Schipper, Bonn Graduate School of Economics

Session 99: Equilibrium Asset Pricing

Session Organizer: Costis Skiadas, Northwestern University
Session Chair: Eva Carceles Poveda, SUNY at Stony Brook
Date: June 27, 2003
Time: 16:00 - 17:30
Location: G44
 

An equilibrium Model of Asset Pricing and Moral Hazard
Presented by: Hui Ou-Yang, Duke University
 

Endogenous Trading Constraints in Asset Markets
Presented by: Eva Carceles Poveda, SUNY at Stony Brook
 

Capital Ownership under Market Incompleteness: Does it matter?
Presented by: Eva Carceles Poveda, SUNY at Stony Brook

Session 100: Family and Children in the Development Process

Session Organizer: Debraj Ray, New York University
Session Chair: Jose Canals-Cerda, University of Colorado
Date: June 27, 2003
Time: 16:00 - 17:30
Location: 101
 

Intra-household Spillover Effects of Public Health Program: Evidence from Rural Bangladesh
Presented by: Anoshua Chaudhuri, University of Washington
 

Estimating the Effect of Fertility Decisions on Children's Labor Force Participation
Presented by: Partha Deb, Hunter College, CUNY
 

The Dynamics of School and Work in Rural Bangladesh
Presented by: Jose Canals-Cerda, University of Colorado

Session 101: Trade, Contracts and Institutions

Session Organizer: Sandeep Baliga, Northwestern University
Session Chair: Sandro Brusco, Universidad Carlos III de Madrid
Date: June 27, 2003
Time: 16:00 - 17:30
Location: 276
 

Optimal Shares With Double Moral Hazard
Presented by: Sharon Gifford, Rutgers University
 

Back and Forth Trade (old Title: Dynamic Inefficient Trade)
Presented by: Uday Rajan, Carnegie Mellon University
 

Mergers without Cash
Presented by: Sandro Brusco, Universidad Carlos III de Madrid

Session 102: Procurement and regulation

Session Organizer: Lars Stole, University of Chicago Grad School of Business
Session Chair: Yossi Spiegel, Tel Aviv University
Date: June 27, 2003
Time: 16:00 - 17:30
Location: 165
 

Selecting Preferred Cost Distributions
Presented by: Chifeng Dai, University of Florida
 

Sequential Procurement of a Long-Term Project
Presented by: Huseyin Yildirim, Duke University
 

Optimal state-contingent regulation
Presented by: Yossi Spiegel, Tel Aviv University

Session 103: Behavioral Economics 2

Session Organizer: Kent Daniel,
Session Chair: Dirk Hackbarth, Indiana University
Date: June 27, 2003
Time: 16:00 - 17:30
Location: G42
 

Household Portfolio Diversification
Presented by: Valery Polkovnichenko, University of Minnesota
 

Time to Digest and Volatility Dynamics
Presented by: Lin Peng, Baruch College / CUNY
 

Determinants of Corporate Borrowing: A Behavioral Perspective
Presented by: Dirk Hackbarth, Indiana University

Session 104: Soical Choice II

Session Organizer: Herve Moulin, Rice University
Session Chair: Eric Rasmusen, Indiana University
Date: June 27, 2003
Time: 16:00 - 17:30
Location: G43
 

The Parking Lot Problem
Presented by: Kaushik Mukhopadhaya, Centers for Disease Control and Prevention
 

On the Relevance of Alternatives in Bargaining: Average Alternative Solutions
Presented by: Younghwan In, National University of Singapore

Session 105: Structural Models of the Monetary Transmission Mechanism II

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: Kevin Moran, Bank of Canada
Date: June 27, 2003
Time: 16:00 - 17:30
Location: G05
 

Search and Matching in Financial Markets, Limited Participation, and Persistence
Presented by: Kevin Moran, Bank of Canada
 

Real Wage Dynamics in a Monetary Business Cycle Model with Search Frictions
Presented by: Michael Krause, Tilburg University

Session 106: Nominal Rigidities: Empirical Evidence

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: Magnus Lundin, Uppsala University
Date: June 27, 2003
Time: 16:00 - 17:30
Location: 166
 

Why Don’t Prices Fall in a Recession? Financial Constraints, Investment, and Customer Relations
Presented by: Magnus Lundin, Uppsala University
 

"A Vectorautoregressive Investment Model (VIM) And Monetary Policy Transmission: Panel Evidence From German Firms"
Presented by: Robert Chirinko, Emory University and CESifo

Session 107: Applications in Forecasting

Session Organizer: V. Hotz, UCLA
Session Chair: Prasad Bidarkota, Kansas State University
Date: June 27, 2003
Time: 16:00 - 17:30
Location: 3245
 

Density Forecasting with Macroeconomic Survey Data
Presented by: Yongil Jeon, Central Michigan University
 

Forecasting with Cyclical Stochastic Volatility
Presented by: Ilias Tsiakas, Warwick Business School
 

Diffusion Indices for International Capital Markets
Presented by: Lawrence Pohlman, PanAgora Asset Management

Session 108: Valuation

Session Organizer: Luigi Zingales, University of Chicago
Session Chair: Ajay Subramanian, Georgia Institute of Technology
Date: June 27, 2003
Time: 16:00 - 17:00
Location: G36
 

Irreversible decisions and the role of record setting payoffs
Presented by: Svetlana Boyarchenko, University of Texas
 

The Design, Exercise and Valuation of Employee Stock Options
Presented by: Ajay Subramanian, Georgia Institute of Technology

Session 109: Computational Macroeconomics I

Session Organizer: Kenneth Judd, Hoover Institution
Session Chair: Kenneth Judd, Hoover Institution
Date: June 28, 2003
Time: 9:00 - 10:30
Location: G45
 

Consumption Taxes and Economic Efficiency in a Stochastic OLG Economy
Presented by: Shinichi Nishiyama, Congressional Budget Office
 

A Life Cycle Model with Housing, Portfolio Allocation, and Mortgage Financing
Presented by: Joseph Nichols, University of Maryland
 

Computational Methods for Models with Quasi-geometric Discounting
Presented by: Kenneth Judd, Hoover Institution

Session 110: International Finance

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Tito Cordella, INTERNATIONAL MONETARY FUND
Date: June 28, 2003
Time: 9:00 - 10:30
Location: G03
 

Segmented Asset Markets and Optimal Exchange Rates
Presented by: Rajesh singh, iowa state university
Discussant: Rodney Ramcharan, International Monetary Fund
 

What macroeconomic risks are (not) shared by international investors?
Presented by: Shu Wu, The University of Kansas
 

Optimal Exchange Rate Regimes: Sunspots, Welfare and Currency Crises
Presented by: Carsten Nielsen, University Cattolica
Discussant: Cristina Arellano, Duke University

Session 111: coalitional games

Session Organizer: Jeff Ely, Northwestern University
Session Chair: Juan Gomez, University of Minnesota
Date: June 28, 2003
Time: 9:00 - 10:30
Location: G42
 

Cores of games with incomplete information
Presented by: Roger Myerson, University of Chicago
 

Mistakes in Cooperation:The Stochastic Stability of Edgeworth Recontracting
Presented by: Roberto Serrano, Brown University
 

An Extension of the Core Solution Concept
Presented by: Juan Gomez, University of Minnesota

Session 112: International Finance

Session Organizer: Costis Skiadas, Northwestern University
Session Chair: Richard Barnett, SMU
Date: June 28, 2003
Time: 9:00 - 10:30
Location: G44
 

International Stock Market Integration: A Dynamic General Equilibrium Approach
Presented by: Harjoat Bhamra, London Business School
 

Transmission of Information Across International Equity Markets
Presented by: Jon Wongswan, Federal Reserve Board
 

Secrecy versus selective disclosure in sterilized foreign exchange interventions
Presented by: Richard Barnett, SMU

Session 113: Inequality, Poverty and Development

Session Organizer: Debraj Ray, New York University
Session Chair: Dilip Mookherjee, Boston University
Date: June 28, 2003
Time: 9:00 - 10:30
Location: 101
 

Inequality, Uncertainty and Corruption
Presented by: Ajay Subramanian, Georgia Institute of Technology
Discussant: Sandeep Baliga, Northwestern University
 

Inequality, Industrialization and Financial Structure
Presented by: Shankha Chakraborty, University of Oregon
Discussant: Raoul Minetti, Michigan State University
 

Estimating Comparable Povert
Presented by: Alessandro Tarozzi, Duke University
Discussant: Debopam Bhattacharya,

Session 114: Auction Theory 4

Session Organizer: Sushil Bikhchandani, UNIV CALIFORNIA
Session Chair: Marco Haan, University of Groningen
Date: June 28, 2003
Time: 9:00 - 10:30
Location: G36
 

Internet Auctions and Rational Expectations
Presented by: Sergei Severinov, Duke University
 

License Auctions When Winning Bids Are Financed Through Debt
Presented by: Marco Haan, University of Groningen
 

Dynamic Markets, Privately Known Trading Deadlines and the Incentive to Foreclose the Competition
Presented by: Gopal Das Varma, DUKE UNIVERSITY

Session 115: Empirical Labor Economics

Session Organizer: Bruce Meyer, NORTHWESTERN UNIVERSITY
Session Chair: Sarmistha Pal, Cardiff University
Date: June 28, 2003
Time: 9:00 - 10:30
Location: G43
 

THE LONG-RUN IMPACT OF MILITARY SERVICE ON THE HEALTH OF WORLD WAR II VETERANS
Presented by: Kelly Bedard, UCSB
 

Birth Spacing and Child Survval: Comparative Evidence from India and Pakistan
Presented by: Sarmistha Pal, Cardiff University

Session 116: Wages and Labor Supply in General Equilibrium

Session Organizer: Bruce Meyer, NORTHWESTERN UNIVERSITY
Session Chair: George-Levi Gayle, University of Pittsburgh
Date: June 28, 2003
Time: 9:00 - 10:30
Location: 276
 

The overall impact of wage subsidies under idiosyncratic uncertainty
Presented by: Monica Costa Dias, Bank of Portugal
 

Explaining Wage Growth and the Evolution of Inequality during Transition: Evidence from a Dynamic General Equilibrium Model of the East German Labor Market
Presented by: CHRISTINA GATHMANN, UNIVERSITY OF CHICAGO
 

Life-Cyle Fertility Behavior and Human Capital Accumulation
Presented by: George-Levi Gayle, University of Pittsburgh

Session 117: R&D and innovation

Session Organizer: Lars Stole, University of Chicago Grad School of Business
Session Chair: Francesco Squintani, University of Rochester
Date: June 28, 2003
Time: 9:00 - 10:30
Location: 165
 

Innovation Timing Games: A General Framework with Applications
Presented by: Heidrun Hoppe, University of Bonn
 

The Decision to Patent, Cumulative Innovation, and Optimal Policy
Presented by: Nisvan Erkal, University of Melbourne
 

Competitive Experimentation with Private Information
Presented by: Francesco Squintani, University of Rochester

Session 118: Private Information and Credit Contracting

Session Organizer: Larry Jones, University of Minnesota
Session Chair: Gabriela Mundaca, University of Oslo
Date: June 28, 2003
Time: 9:00 - 10:30
Location: 160
 

General Equilibrium in Economies with Adverse Selection
Presented by: Aldo Rustichini, University of Minnesota
 

Information, Coordination and Dynamics of Currency Crises
Presented by: Alessandro Pavan, Northwestern University
 

Credit cycles and monetary policy
Presented by: Gabriela Mundaca, University of Oslo

Session 119: *Recent Advances in Time Series Econometrics

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: YOOSOON CHANG, RICE UNIVERSITY
Date: June 28, 2003
Time: 9:00 - 10:30
Location: 1246
 

Bootstrap Test for Breaks of a Regression Model with Dependent Data
Presented by: JAVIER HIDALGO, LSE
 

Consistent Testing for Serial Correlation of Unknown Form in Time Series Models with Conditional Heteroskedasticity of Unknown Form
Presented by: Yongmiao Hong, Cornell University
 

Inference in Models with Weak Unit Roots
Presented by: YOOSOON CHANG, RICE UNIVERSITY

Session 120: Topics in Monetary Policy I

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: John Williams, Federal Reserve Bank of San Francisco
Date: June 28, 2003
Time: 9:00 - 10:30
Location: G05
 

Inflation Scares and Monetary Policy
Presented by: John Williams, Federal Reserve Bank of San Francisco
 

Evolving Post-World War II U.K. Economic Performance
Presented by: Luca Benati, Bank of England
 

Has The Transmission Mechanism of European Monetary Policy Changed Over Time?
Presented by: Alessandro Rebucci, I.M.F.

Session 121: Optimal Contracting

Session Organizer: Luigi Zingales, University of Chicago
Session Chair: Humberto Moreira, FGV
Date: June 28, 2003
Time: 9:00 - 10:30
Location: 166
 

Optimal contracts with privately informed agents and active principals
Presented by: Diego Garcia, Tuck School, Dartmouth College
 

Do dividends signal more earnings? A theoretical analysis
Presented by: Humberto Moreira, FGV

Session 122: Applications of Quantile Regression and Non-Parametric Methods

Session Organizer: V. Hotz, UCLA
Session Chair: John Pepper, University of Virginia
Date: June 28, 2003
Time: 9:00 - 10:30
Location: G27
 

Coexceedances in Financial Markets
Presented by: Dirk Baur, European Commission/ Joint Research Center
 

A Nonparametric Analysis of the Shape Dynamics of the U.S. Personal Income Distribution: 1962 - 2000
Presented by: Feng Zhu, Yale University

Session 123: Implementation

Session Organizer: Stephen Morris, Yale University
Session Chair: Rajiv Vohra, Brown University
Date: June 28, 2003
Time: 11:00 - 12:30
Location: G45
 

A Characterization of Virtual Bayesian Implementation
Presented by: Rajiv Vohra, Brown University
 

Potentials and Implementation: A Generic Impossibility Theorem
Presented by: Benedict Moldovanu, University of Bonn

Session 124: New econometric methods

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: Tim Vogelsang, Cornell University
Date: June 28, 2003
Time: 11:00 - 12:30
Location: 1246
 

Quantiles for Counts
Presented by: Joao Santos Silva, Universidade Técnica de Lisboa
 

Testing the information matrix equality with robust estimators
Presented by: GEERT DHAENE, K.U.Leuven
 

A New Asymptotic Approximation for the Sampling Behavior of Spectral Density Estimators
Presented by: Tim Vogelsang, Cornell University

Session 125: Convergence to Equilibrium

Session Organizer: Jeff Ely, Northwestern University
Session Chair: Federico Echenique, Caltech
Date: June 28, 2003
Time: 11:00 - 12:30
Location: G42
 

Excess Payoff Dynamics, Potential Dynamics, and Stable Games
Presented by: William Sandholm, University of Wisconsin
 

Learning to play approximate Nash equilibria in games with many players
Presented by: Edward Cartwright, University of Warwick
 

Finding All Equilibria
Presented by: Federico Echenique, Caltech

Session 126: Asset Pricing I

Session Organizer: Costis Skiadas, Northwestern University
Session Chair: Giovanni Urga, Cass Business School
Date: June 28, 2003
Time: 11:00 - 12:30
Location: G44
 

Pseudo-diffusions and Quadratic term structure models
Presented by: Sergey Levendorskiy, University of Texas at Austin
 

Testing Asset Pricing Models with Coskewness
Presented by: Giovanni Urga, Cass Business School
 

Non-Redundant Derivatives in a Dynamic General Equilibrium Economy
Presented by: Harjoat Bhamra, London Business School

Session 127: Political Economy of Development

Session Organizer: Debraj Ray, New York University
Session Chair: Graziella Bertocchi, University of Modena
Date: June 28, 2003
Time: 11:00 - 12:30
Location: G43
 

Populist Budgets and Long Run Growth
Presented by: Felix Rioja, Georgia State University
 

Inequality, Transfers and Social Conflicts under Autocratic Regimes
Presented by: Jamele Rigolini, New York University
 

Growth, Migration, and the Extension of the Voting Franchise.
Presented by: Graziella Bertocchi, University of Modena

Session 128: Topics in Empirical Public Finance

Session Organizer: Bruce Meyer, NORTHWESTERN UNIVERSITY
Session Chair: Robert Chirinko, Emory University and CESifo
Date: June 28, 2003
Time: 11:00 - 12:30
Location: 276
 

"That Elusive Elasticity: A Long-Panel Approach To Estimating The Capital-Labor Substitution Elasticity,"
Presented by: Robert Chirinko, Emory University and CESifo
 

Do Politicians' Preferences Correspond to those of the Voters? An Investigation of Political Representation
Presented by: Hanna Ågren, Uppsala University
 

The Impact of Mortgage Interest Rate Subsidies on Household Long-Term Debt
Presented by: Ernesto Villanueva, Universitat Pompeu i Fabra

Session 129: Invited Session on Theory of the Firm

Session Organizer: Sandeep Baliga, Northwestern University
Session Chair: Sandeep Baliga, Northwestern University
Date: June 28, 2003
Time: 11:00 - 12:30
Location: 101
 

Firms versus Contracts
Presented by: Oliver Hart,
 

Delegation and Contractual Hierarchies
Presented by: Dilip Mookherjee, Boston University

Session 130: Contagion

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Shu Wu, The University of Kansas
Date: June 28, 2003
Time: 11:00 - 12:30
Location: G03
 

Measuring Contagion with a Bayesian Time-Varying Coefficient Model
Presented by: Alessandro Rebucci, I.M.F.
Discussant: Shu Wu, The University of Kansas
 

Contagion of Currency Crises across Unrelated Countries without Common Lender
Presented by: Kenshi Taketa, University of Wisconsin - Madison
Discussant: Yi Jin, The University of Kansas
 

Speculative Attacks on Debts and Optimum Currency Area: A Welfare Analysis
Presented by: Marcia Leon, Central Bank of Brazil
Discussant: Ivan Pastine, Bilkent University and CEPR

Session 131: Empirical Innovation

Session Organizer: Catherine Wolfram,
Session Chair: Gerald Marschke, SUNY Albany
Date: June 28, 2003
Time: 11:00 - 12:30
Location: 165
 

Does Public Biomedical Research Complement Industry R&D Investment?
Presented by: Andrew Toole, Illinois State University
 

Skill-Biased Technical Change in U.S. Manufacturing: A General Index Approach
Presented by: Daniel Rich, Illinois State University
 

LABOR MOBILITY OF SCIENTISTS, TECHNOLOGICAL DIFFUSION, AND THE FIRM’S PATENTING DECISION
Presented by: Gerald Marschke, SUNY Albany

Session 132: Expectations and Monetary Policy

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: William Branch, College of William and Mary
Date: June 28, 2003
Time: 11:00 - 12:30
Location: G05
 

The Theory of Rationally Heterogeneous Expectations: Evidence from Survey Data on Inflation Expectations
Presented by: William Branch, College of William and Mary
 

Policymakers' Beliefs and the Behavior of Inflation and Unemployment in the United States
Presented by: Giorgio Primiceri, Princeton University
 

Coordination and Policy Traps in Currency Crises
Presented by: Alessandro Pavan, Northwestern University

Session 133: Invited Session on Electricity Markets

Session Organizer: Catherine Wolfram,
Session Chair: Catherine Wolfram,
Date: June 28, 2003
Time: 11:00 - 12:30
Location: G36
 

Household Electricity Demand Behavior During the California Energy Crisis
Presented by: Matthew White, Wharton School, University of Pennsylvania
 

Investment Efficiency in Competitive Electricity Markets With and Without Time-Varying Retail Prices
Presented by: Stephen Holland,
 

Competition Policy for Wholesale Electricity Markets
Presented by: James Bushnell,

Session 134: Axiomatic Mechansim Design 2 (Invited)

Session Organizer: William Thomson, University of Rochester
Session Chair: Lars Ehlers, Université de Montréal
Date: June 28, 2003
Time: 11:00 - 12:30
Location: G36
 

Scoring of Web pages and Tournaments - Axiomatizations
Presented by: Oscar Volij, Iowa State University
 

College Admissions with Affirmative Action
Presented by: Atila Abdulkadiroglu, Columbia University
 

In Search of Advice for Physicians in Entry-Level Medical Markets
Presented by: Lars Ehlers, Université de Montréal

Session 135: Modelling Business Cycles

Session Organizer: V. Hotz, UCLA
Session Chair: Don Harding, The University of Melbourne
Date: June 28, 2003
Time: 11:00 - 12:30
Location: G27
 

A Generalized Method for Business Cycle Measurement
Presented by: Mehmet Ozhabes, University of Minnesota
 

Using turningpoint information to study dynamics: rationale and econometric foundations
Presented by: Don Harding, The University of Melbourne
 

Time-Varying European Business Cycles
Presented by: Christopher Otrok, University of Virginia

Session 136: Coordination in Dynamic Games

Session Organizer: Jeff Ely, Northwestern University
Session Chair: Lones Smith, University of Michigan
Date: June 28, 2003
Time: 14:30 - 16:00
Location: G43
 

Recursive Global Games
Presented by: Flavio Toxvaerd, Universidade Nova de Lisboa
 

The Adoption of Standards under Uncertainty
Presented by: Michael Ostrovsky, Harvard University
 

Caller Number Five: Timing Games that Morph from One Form to Another
Presented by: Lones Smith, University of Michigan

Session 137: Income Distribution and Trade

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Horst Raff, University of Kiel
Date: June 28, 2003
Time: 14:30 - 16:00
Location: G03
 

Inequality and Trade
Presented by: Devashish Mitra, Syracuse University
Discussant: Nuno Limão, University of Maryland
 

Why is there an Anti-trade Bias in Trade Policy?
Presented by: Nuno Limão, University of Maryland
Discussant: Devashish Mitra, Syracuse University
 

Trade and Welfare in a Dynamic Model with Credit Constraints
Presented by: Tatiana Tchesnokova, The Pennsylvania State University

Session 138: Semi- and nonparametric estimation and testing

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: Arie Beresteanu, Duke University
Date: June 28, 2003
Time: 14:30 - 16:00
Location: 1246
 

Nonparametric Estimation of Supply and Demand Factors with Applications to Labor and Macro Economics
Presented by: Tsunao Okumura, Yokohama National University
 

Measurement Error Models with Auxiliary Data
Presented by: Elie Tamer, Princeton University
 

Testing a nonparametric null hypothesis against a nonparametric alternative
Presented by: Arie Beresteanu, Duke University

Session 139: Computational Macroeconomics II

Session Organizer: Kenneth Judd, Hoover Institution
Session Chair: Kenneth Judd, Hoover Institution
Date: June 28, 2003
Time: 14:30 - 16:00
Location: G45
 

Evolution of Worker-Employer Networks and Behaviors Under Alternative Non-Employment Benefits: An Agent-Based Computational Study
Presented by: Leigh Tesfatsion, Iowa State University
 

Solving Asset Pricing Models when the Price-Dividend Function is Analytic
Presented by: Thomas Cosimano, University of Notre Dame
 

Inflation and Wealth Distribution
Presented by: Bernd Süssmuth, University of Bamberg

Session 140: Asset Pricing II

Session Organizer: Costis Skiadas, Northwestern University
Session Chair: Bedri Tas, Boston College
Date: June 28, 2003
Time: 14:30 - 16:00
Location: G44
 

Risk Premia in Linear Factor Models: Theoretical and Empirical Issues
Presented by: Robert Kimmel, Princeton University
 

Private Information of the Fed ,Predictability of Stock Returns and Expected Monetary Policy
Presented by: Bedri Tas, Boston College
 

The Information in Option Volume for Stock Prices
Presented by: Allen Poteshman, University of Ilinois Urbana-Champaign

Session 141: Invited Session on Auction Theory

Session Organizer: Sushil Bikhchandani, UNIV CALIFORNIA
Session Chair: Benedict Moldovanu, University of Bonn
Date: June 28, 2003
Time: 14:30 - 16:30
Location: G36
 

Toward a Strategic Foundation for Rational Expectations Equilibrium
Presented by: Philip Reny, University of Chicago
 

Multi-unit open ascending price efficient auction.
Presented by: Sergei Izmalkov, MIT
 

Depth and Efficiency of Large Auctions
Presented by: Jeroen Swinkels, Washington University
 

Auction-based Queue Disciplines
Presented by: Benedict Moldovanu, University of Bonn

Session 142: Renegotiation and Agency

Session Organizer: Sandeep Baliga, Northwestern University
Session Chair: Abraham Wickelgren, Federal Trade Commission
Date: June 28, 2003
Time: 14:30 - 16:00
Location: 101
 

``Option Contracts and Renegotiation in Complex Environments,''
Presented by: Eric Rasmusen, Indiana University
 

Renegotiation-proof Contracts in Repeated Agency
Presented by: Rui Zhao, SUNY, Albany
 

Moral Hazard and Renegotiation: Multi-Period Robustness
Presented by: Abraham Wickelgren, Federal Trade Commission

Session 143: Dynamics and Financial Markets

Session Organizer: Larry Jones, University of Minnesota
Session Chair: Gaetano Antinolfi, Washington University
Date: June 28, 2003
Time: 14:30 - 16:00
Location: 276
 

Does It Really Matter Whether the Exchange Rate Floats or Not?
Presented by: Alexandre Cunha, Ibmec Business School
 

Can technological change explain the stock market collapse of 1974?
Presented by: Adrian Peralta-Alva, University of Minnesota
 

Banking and Markets in a Monetary Model
Presented by: Gaetano Antinolfi, Washington University

Session 144: Policy and Growth

Session Organizer: Larry Jones, University of Minnesota
Session Chair: Max Gillman, Central European University
Date: June 28, 2003
Time: 14:30 - 16:00
Location: 160
 

Money, Tax Evasion, and the Optimal Inflation Rate
Presented by: Young Kim, Kyung Hee University, Seoul, Korea
 

On Endogenous Growth and Welfare with Public Capital and Public Services
Presented by: Sugata Ghosh, Cardiff University
 

The Demand for Bank Reserves and Other Monetary Aggregates
Presented by: Max Gillman, Central European University

Session 145: Experiments III

Session Organizer: Muriel Niederle, Stanford University
Session Chair: Gary Charness, University of California, Santa Barbara
Date: June 28, 2003
Time: 14:30 - 16:30
Location: G42
 

Why Beauty Matters
Presented by: Tanya Rosenblat, Wesleyan University
 

Consistent Behavior in Majoritarian Bargaining
Presented by: Guillaume Frechette, Harvard University
 

Bayesian Updating, Reinforcement, and Complexity Aversion:A Laboratory Study
Presented by: Gary Charness, University of California, Santa Barbara
 

The Road to Hell: An Experimental Study of Intentions
Presented by: Gary Charness, University of California, Santa Barbara

Session 146: Quality: Consumption and Competition

Session Organizer: Catherine Wolfram,
Session Chair: Oliver Richard, University of Rochester
Date: June 28, 2003
Time: 14:30 - 16:00
Location: 165
 

Is Quality Certification Effective? Evidence From the Childcare Market
Presented by: Mo Xiao, UCLA
 

Product Quality and Taxation: Evidence from the Wine Market
Presented by: Martin Ljunge, University of Chicago
 

Marketing Alliances and Consumer Welfare in the US Airline Industry
Presented by: Oliver Richard, University of Rochester

Session 147: Monetary Policy Shocks and their Cnsequences: Empirical Evidence

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: Michael Hanson, Wesleyan University
Date: June 28, 2003
Time: 14:30 - 16:00
Location: G05
 

Varying Monetary Policy Regimes: A Vector Autoregressive Approach
Presented by: Michael Hanson, Wesleyan University
 

What caused the early millennium slowdown? Evidence based on vectorautoregressions
Presented by: Gert Peersman, Bank of England
 

Identifying the Effects of Monetary Policy Shocks on Exchange Rates Using High-Frequency Data
Presented by: Eric Swanson, Federal Reserve Board

Session 148: Macroeconomic Determinants of Employment

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: Roberto Samaniego, George Washington University
Date: June 28, 2003
Time: 14:30 - 16:00
Location: 166
 

Employment Protection, Exit, and Macroeconomic Dynamics
Presented by: Roberto Samaniego, George Washington University

Session 149: Modeling Exchange Rates

Session Organizer: V. Hotz, UCLA
Session Chair: William McCausland, Universite de Montreal
Date: June 28, 2003
Time: 14:30 - 16:00
Location: G27
 

Real exchange rate effects on growth in Latin America
Presented by: PABLO MEJIA-REYES, EL COLEGIO MEXIQUENSE
 

A testing procedure for a root in the STAR model
Presented by: Rehim Kilic, Gergia Institute of Technology
 

The asymmetric exchange rate dynamics in the EMS: A time-varying threshold test
Presented by: Marie Bessec, EUREQua-University Paris 1

Session 150: Walras-Bowley Lecture

Session Organizer: Rakesh Vohra, NORTHWESTERN UNIVERSITY
Date: June 28, 2003
Time: 17:00 - 18:15
Location: TBD
 

Adaptive Heuristics: A Little Rationality Goes A Long Way
Presented by: Sergiu Hart, Hebrew University of Jerusalem

Session 151: International Economics: Theory

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Devashish Mitra, Syracuse University
Date: June 29, 2003
Time: 9:00 - 10:30
Location: G03
 

Power Inside the Firm and the Market: A General Equilibrium Approach
Presented by: Dalia Marin, University of Munich
 

Antidumping Policy and Innovation
Presented by: Kaz Miyagiwa,

Session 152: Intermediate Inputs

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Mary Lovely,
Date: June 29, 2003
Time: 9:00 - 10:30
Location: 276
 

Why Plant-Level Productivity Studies are Often Misleading, and an Alternative Approach to Inference
Presented by: James Tybout, Pennsylvania State University
Discussant: Jonathan Eaton, New York University
 

International Trade from the Perspective of Individual Producers
Presented by: Jonathan Eaton, New York University
Discussant: Sofronis Clerides, University of Cyprus
 

Globalization and The Empowerment of Human Capital
Presented by: Thierry Verdier, DELTA
Discussant: Mary Lovely,

Session 153: Financial econometrics

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: Jialin Yu, Princeton University
Date: June 29, 2003
Time: 9:00 - 10:30
Location: G42
 

Regime-switching and the estimation of multifractal processes
Presented by: Laurent Calvet, Harvard University
 

Closed-Form Likelihood Expansion for Multivariate Jump-Diffusions
Presented by: Jialin Yu, Princeton University

Session 154: Bootstrap and higher-order asymptotics

Session Organizer: Joel Horowitz, Northwestern University
Session Chair: Silvia Goncalves, Université de Montréal
Date: June 29, 2003
Time: 9:00 - 10:30
Location: G45
 

The Information Matrix Test with Bootstrap-Based Covariance Matrix Estimation
Presented by: Dirk Hoorelbeke, K.U.Leuven
 

Generalized empirical likelihood inference under weak identification
Presented by: Taisuke Otsu, University of Wisconsin-Madison
 

Asymptotic and Bootstrap Inference for AR(inf) processes with Conditional Heteroskedasticity
Presented by: Silvia Goncalves, Université de Montréal

Session 155: Banking

Session Organizer: Costis Skiadas, Northwestern University
Session Chair: Luis Araujo, Michigan State University
Date: June 29, 2003
Time: 9:00 - 10:30
Location: G43
 

Discipline and Liquidity in the Market for Federal Funds
Presented by: Thomas King, Federal Reserve Bank of St. Louis and Washington University
 

Banks as Markets for Firm Assets
Presented by: Raoul Minetti, Michigan State University
 

winners or losers? The effect of banking consolidation on corporate borrowers
Presented by: emilia bonaccorsi di patti, Bank of Italy

Session 156: Asset Allocation

Session Organizer: Costis Skiadas, Northwestern University
Date: June 29, 2003
Time: 9:00 - 10:30
Location: G44
 

Real Estate and its Role in Asset Allocation
Presented by: Cornelia Kullmann, University of British Columbia
 

On the Industry Concentration of Actively Managed Equity Mutual Funds
Presented by: Marcin Kacperczyk, University of Michigan Business School
 

Optimal Lifetime Consumption-Portfolio Strategies under Trading Constraints and Generalized Recursive Preferences
Presented by: Mark Schroder, Michigan State University
 

Strategic Asset Allocation under Multivariate Regime Switching
Presented by: Massimo Guidolin, University of Virginia

Session 157: Dynamic markets: mergers, betting and ordered search

Session Organizer: Lars Stole, University of Chicago Grad School of Business
Session Chair: Maria Arbatskaya,
Date: June 29, 2003
Time: 9:00 - 10:30
Location: 166
 

Strategic Merger Waves: A Theory of Musical Chairs
Presented by: Flavio Toxvaerd, Universidade Nova de Lisboa
 

Late Informed Betting and the Favorite Longshot Bias
Presented by: Marco Ottaviani, London Business School
 

Ordered Search
Presented by: Maria Arbatskaya,

Session 158: Investment and Firm Behavior

Session Organizer: Larry Jones, University of Minnesota
Session Chair: Praveen Kumar, University of Houston
Date: June 29, 2003
Time: 9:00 - 10:30
Location: 160
 

Risk Taking by Entrepreneurs
Presented by: Hugo Hopenhayn, University of Rochester
 

Learning about Investment Risk: The Effects of Structural Uncertainty on Dynamic Investment and Consumption
Presented by: Praveen Kumar, University of Houston

Session 159: International Finance: Empirical

Session Organizer: Kala Krishna, Pennsylvania State University
Session Chair: Gaston Gelos, International Monetary Fund
Date: June 29, 2003
Time: 9:00 - 10:30
Location: 101
 

What Drives Volatility in Real Exchange Rates? Evidence for Industrial Countries
Presented by: Cesar Calderon, Central Bank of Chile
Discussant: Gaston Gelos, International Monetary Fund
 

How Immobile is Capital among Advanced Economies?
Presented by: Chander Kant, Seton Hall University
Discussant: Michael Klein, Fletcher School

Session 160: Empirical Contracting

Session Organizer: Catherine Wolfram,
Session Chair: Liquan Wang,
Date: June 29, 2003
Time: 9:00 - 10:30
Location: 165
 

Agent Discretion, Adverse Selection and the Risk-Incentive Trade-Off
Presented by: Christopher Adams, Federal Trade Commission
 

Risk aversion, wealth and background risk
Presented by: Monica Paiella, Bank of Italy
 

An Empirical Investigation of Mutual Fund Managers turnover with a hazard model
Presented by: Liquan Wang,

Session 161: Topics in Monetary Policy II

Session Organizer: Martin Eichenbaum, NORTHWESTERN UNIVERSITY
Session Chair: Shigeru Iwata,
Date: June 29, 2003
Time: 9:00 - 10:30
Location: G05
 

Estimating Monetary Policy Effects When Interest Rates are Bounded at Zero
Presented by: Shigeru Iwata,
 

The central banker as a risk manager: quantifying and forecasting inflation risks
Presented by: Simone Manganelli, European Central Bank
 

Money Market Rates And Implied CCAPM Rates: Some International Evidence
Presented by: Yamin Ahmad, Georgetown University

Session 162: Modelling Volatility and Uncertainty

Session Organizer: V. Hotz, UCLA
Date: June 29, 2003
Time: 9:00 - 10:30
Location: G36
 

Signal Extraction Can Generate Volatility Clusters From IID Shocks
Presented by: Prasad Bidarkota, Kansas State University
 

Understanding House Price Volatility: Measuring and Explaining the Supply Side of Metropolitan Area Housing Markets
Presented by: Bengte Evenson, Illinois State University
 

Time Reversibility or Irreversibility of Asset Return Volatility
Presented by: William McCausland, Universite de Montreal

Session 163: Presidential Address

Session Organizer: Rakesh Vohra, NORTHWESTERN UNIVERSITY
Session Chair: Rakesh Vohra, NORTHWESTERN UNIVERSITY
Date: June 29, 2003
Time: 11:00 - 12:30
Location: TBD
 

Bargaining, Coalitions, and Externalities
Presented by: Eric Maskin, Institute for Advanced Study