Society for Economic Dynamics 2004 Annual Meeting

Summary of All Sessions

#Date/TimeTitlePapers
11 July
10:00-12:00
Tax Policy and Redistribution4
21 July
10:00-12:00
Monetary Theory4
31 July
10:00-12:00
Economic Growth I4
41 July
10:00-12:00
Labor: Gender Differences4
51 July
10:00-12:00
Labor: Labor Supply4
61 July
10:00-12:00
Macroeconomic implications of agency problems4
71 July
10:00-12:00
DGE models with rigidities and imperfect information4
81 July
10:00-12:00
Two-Sided Matching4
91 July
10:00-12:00
Investment 14
101 July
10:00-12:00
Currency Crises4
111 July
13:30-15:30
Financial Integration and Crises4
121 July
13:30-15:30
Investment-Specific Technological Change: Evidence and Implications4
131 July
13:30-15:30
Economics of the Family4
141 July
13:30-15:30
Learning and Matching4
151 July
13:30-15:30
Public Economics I4
161 July
13:30-15:30
Asset Pricing 14
171 July
13:30-15:30
Industries, Plants, and Growth4
181 July
13:30-15:30
Monetary Policy I4
191 July
13:30-15:30
Regime and Parameter Changes4
201 July
13:30-15:30
Innovation4
211 July
16:00-18:00
Growth Perspectives4
221 July
16:00-18:00
Econometrics of Dynamic Equilibrium Models4
231 July
16:00-18:00
Marriage and Household Behavior4
241 July
16:00-18:00
Experimental Economics4
251 July
16:00-18:00
Monetary Policy II4
261 July
16:00-18:00
Public Economics II4
271 July
16:00-18:00
Markets and Technology4
281 July
16:00-18:00
International Trade I4
291 July
16:00-18:00
Firm Behavior4
301 July
16:00-18:00
Externalities4
312 July
10:00-12:00
Macroeconomics and Finance4
322 July
10:00-12:00
Industrial Organization 1: Empirical Methods in IO4
332 July
10:00-12:00
Life Cycle Consumption4
342 July
10:00-12:00
Technology adoption, capital flows and growth4
352 July
10:00-12:00
Monetary policy with sticky prices4
362 July
10:00-12:00
Human Capital: Theory and Evidence4
372 July
10:00-12:00
Optimal Taxation4
382 July
10:00-12:00
Labor Markets and Policies: Structural Estimation4
392 July
10:00-12:00
Contracts and Markets4
402 July
10:00-12:00
International Macroeconomic Puzzles4
412 July
13:30-15:30
International Debt4
422 July
13:30-15:30
Industrial Organization 24
432 July
13:30-15:30
Fiscal Policy4
442 July
13:30-15:30
Labor Market Dynamics and the Macroeconomy4
452 July
13:30-15:30
Contracting and Dynamic Relations4
462 July
13:30-15:30
Housing and the Macroeconomy 14
472 July
13:30-15:30
Historical Perspectives on Technology and Economic Growth4
482 July
13:30-15:30
Income and Consumption inequality4
492 July
13:30-15:30
Investment and Financing4
502 July
13:30-15:30
Public Policy and Demography4
512 July
13:30-15:30
Monetary Policy III4
522 July
16:00-18:00
International Productivity Differences4
532 July
16:00-18:00
Empirical Methods in IO and Labor4
542 July
16:00-18:00
Investment 24
552 July
16:00-18:00
international macroeconomics4
562 July
16:00-18:00
Money and sticky prices4
572 July
16:00-18:00
Occupational Mobility4
582 July
16:00-18:00
Bounded Rationality4
592 July
16:00-18:00
Structural and Empirical Issues in Consumer Credit4
602 July
16:00-18:00
Political Economy and Macroeconomics4
612 July
16:00-18:00
Housing and the Macroeconomy 24
623 July
9:30-11:30
Industrial Organization 3: Empirical Methods in IO4
633 July
9:30-11:30
Term Structure and Credit Spreads4
643 July
9:30-11:30
Computational Methods4
653 July
9:30-11:30
Collusion4
663 July
9:30-11:30
Labor Economics4
673 July
9:30-11:30
International Trade 24
683 July
9:30-11:30
Monetary Search Models4
693 July
9:30-11:30
Dynamic Contracts4
703 July
9:30-11:30
Business Cycles Models4
713 July
9:30-11:30
European Unemployment4
723 July
9:30-11:30
Heterogeneous Agents Economies4
733 July
13:00-15:00
Asset Pricing 24
743 July
13:00-15:00
Trade and Development4
753 July
13:00-15:00
Empirical Studies of Human Capital and the Labor Market4
763 July
13:00-15:00
Models of Saving and Consumption Behavior4
773 July
13:00-15:00
Industrial Organization 4: Theory and Empirics of Industry Dynamics4
783 July
13:00-15:00
Contracts, investment and asset prices4
793 July
13:00-15:00
Economic Growth II4
803 July
13:00-15:00
Asymmetric Information4
813 July
13:00-15:00
Labor Market Frictions4
823 July
13:00-15:00
Economic Theory4
833 July
13:00-15:00
Money and Banking4
843 July
15:30-17:30
Empirical Analysis of Labor Markets4
853 July
15:30-17:30
Cross country income differences, capital flows and TFP4
863 July
15:30-17:30
Optimal Government Policy4
873 July
15:30-17:30
Asset Pricing 34
883 July
15:30-17:30
Social Security4
893 July
15:30-17:30
Business Cycles4
903 July
15:30-17:30
Employment Protection Policies4
913 July
15:30-17:30
Game Theory4
923 July
15:30-17:30
Exchange rates4
933 July
15:30-17:30
Industry Dynamics4
 

93 sessions, 372 papers


 

Society for Economic Dynamics 2004 Annual Meeting

Complete List of All Sessions


Session 1: Tax Policy and Redistribution

Session Chair: Marco Bassetto, University of Minnesota
Date: July 1, 2004
Time: 10:00 - 12:00
 

Belief in a Just World and Redistributive Politics
By Roland Benabou and Jean Tirole
   Presented by: Roland Benabou, Princeton University
 

Optimal vs. time-consistent tax cycles
By John Hassler, Per Krusell, Kjetil Storesletten and Fabrizio Zilibotti
   Presented by: Fabrizio Zilibotti, IIES, IFS and CEPR
 

The Political Economy of Redistribution under Democracy
By Jess Benhabib and Adam Przeworski
   Presented by: Jess Benhabib, NYU
 

Politics and Efficiency of Separating Capital and Ordinary Government Budgets
By Marco Bassetto and Thomas J. Sargent
   Presented by: Marco Bassetto, University of Minnesota

Session 2: Monetary Theory

Session Chair: Ed Nosal, Federal Reserve Bank of Cleveland
Date: July 1, 2004
Time: 10:00 - 12:00
 

On Heterogeneity in a Fundamental Model of Money
By Paola Boel and Gabriele Camera
   Presented by: Gabriele Camera, Purdue University
 

Superneutrality and the welfare effects of inflation
By Ricardo Lagos and Guillaume Rocheteau
   Presented by: Guillaume Rocheteau, Federal Reserve Bank of Cleveland
 

Prices, Information and Learning
By Luis Araujo and Andrei Shevchenko
   Presented by: Luis Araujo, Michigan State University
 

Some benefits of cyclical monetary policy
By Ricardo Cavalcanti and Ed Nosal
   Presented by: Ed Nosal, Federal Reserve Bank of Cleveland

Session 3: Economic Growth I

Session Chair: Omar Licandro, European University Institute
Date: July 1, 2004
Time: 10:00 - 12:00
 

The Evolution of International Output Differences (1960-2000): from Factors to Productivity
By Pedro Cavalcanti Ferreira and Samuel de Abreu Pessoa
   Presented by: Pedro Ferreira, Getulio Vargas
 

Development Accounting
By Marla Ripoll and Juan Carlos Cordoba
   Presented by: Marla Ripoll, University of Pittsburgh
 

Financial Intermediation and TFP Differences
By Pedro Amaral and Erwan Quintin
   Presented by: Pedro Amaral, Southern Methodist University
 

The underestimated virtues of the two-sector AK model
By Gabriel Felbermayr and Omar Licandro
   Presented by: Omar Licandro, European University Institute

Session 4: Labor: Gender Differences

Session Chair: Moshe Hazan, Hebrew University
Date: July 1, 2004
Time: 10:00 - 12:00
 

The Role of Fertility in Gender Differences in Labor Market Outcomes
By Andrés Erosa, Luisa Fuster, and Diego Restuccia
   Presented by: Luisa Fuster, University of Toronto
 

Why Women Work: Disentangling the Role of Marriage Prospects and Intra-Household Behavior
By Raquel Fernandez and Alessandra Fogli
   Presented by: Alessandra Fogli, NYU
 

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

Labor Market Experience and the Gender Gap
By Matthias Doepke, Moshe Hazan and Yishay Maoz
   Presented by: Moshe Hazan, Hebrew University

Session 5: Labor: Labor Supply

Session Chair: Josep Pijoan-Mas, CEMFI
Date: July 1, 2004
Time: 10:00 - 12:00
 

added workers and the business cycle
By elisa faraglia
   Presented by: elisa faraglia, new york university
 

Family job search and consumption: the added worker effect revisited
By J. Ignacio García-Pérez & Silvio Rendón
   Presented by: Ignacio Garcia-Perez, centrA & UPO
 

Why do Europeans Work so Little?
By Conny Olovsson
   Presented by: Conny Olovsson, Institute for International Economic Stu
 

Precautionary Savings or Working Longer Hours?
By Josep Pijoan-Mas
   Presented by: Josep Pijoan-Mas, CEMFI

Session 6: Macroeconomic implications of agency problems

Session Chair: Jean-Pierre Danthine, University of Lausanne and FAME
Date: July 1, 2004
Time: 10:00 - 12:00
 

Bank Capital, Agency Costs, and Monetary Policy
By Kevin Moran, Cesaire Meh
   Presented by: Kevin Moran, Bank of Canada
 

A Dynamic Model of Optimal Capital Structure
By Sheridan Titman and Sergey Tsyplakov
   Presented by: Sergey Tsyplakov, University of South Carolina
 

Letting Go: Managerial Incentives and the Reallocation of Capital
By Andrea L. Eisfeldt and Adriano A. Rampini
   Presented by: Andrea Eisfeldt, Northwestern University
 

The Macroeconomics of Delegated Management
By J.P. Danthine and J.B. Donaldson
   Presented by: Jean-Pierre Danthine, University of Lausanne and FAME

Session 7: DGE models with rigidities and imperfect information

Session Chair: Stefano Neri, Bank of Italy
Date: July 1, 2004
Time: 10:00 - 12:00
 

New-Keynesian or RBC transmission? The effects of fiscal policy in labor markets.
By Evi Pappa
   Presented by: Evi Pappa, London School of Economics
 

Are New Keynesian Phillips Curves Identified ?
By Jean-Marie Dufour, Lynda Khalaf, and Maral Kichian
   Presented by: Maral Kichian, Bank of Canada
 

Data Revisions in General Equilibrium
By S. Boragan Aruoba
   Presented by: S. Boragan Aruoba, University of Pennsylvania
 

Are technology shocks contractionary? A Bayesian VAR analysis with priors on impulses responses
By Luca Dedola and Stefano Neri
   Presented by: Stefano Neri, Bank of Italy

Session 8: Two-Sided Matching

Session Chair: John Kennes, University of Copenhagen
Date: July 1, 2004
Time: 10:00 - 12:00
 

On Black/White Intermarriage Patterns
By Jose Victor Rios-Rull and Linda Y. Wong
   Presented by: Linda Wong, Binghamton University
 

Correlation of Traits in Married Couples: Assortative Matching or Just Who you Meet?
By Ramya Sundaram
   Presented by: Ramya Sundaram, University of Arizona
 

Assortative matching with costly search
By Alp E. Atakan
   Presented by: Alp Atakan, Northwestern University
 

Guided Search: The Value of a Reputation System
By John Kennes and Aaron Schiff
   Presented by: John Kennes, University of Copenhagen

Session 9: Investment 1

Session Chair: Adriano Rampini, Northwestern University
Date: July 1, 2004
Time: 10:00 - 12:00
 

Technology Adoption under Relative Factor Price Uncertainty: The Putty-Clay Investment Model
By Hiroyuki Kasahara
   Presented by: Hiroyuki Kasahara, Queen's University and University of Western Ontario
 

Idiosyncratic shocks and the role of nonconvexities in plant and aggregate investment dynamics
By Aubhik Khan and Julia K. Thomas
   Presented by: Aubhik Khan, Federal Reserve Bank of Philadelphia
 

Capital Gains Taxes, Irreversible Investment, and Capital Structure
By Norman Schuerhoff
   Presented by: NORMAN SCHUERHOFF, CARNEGIE MELLON UNIVERSITY
 

New and Used Capital
By Andrea Eisfeldt and Adriano Rampini
   Presented by: Adriano Rampini, Northwestern University

Session 10: Currency Crises

Session Chair: Manuel Amador, Stanford GSB
Date: July 1, 2004
Time: 10:00 - 12:00
 

Discrete Devaluations and Multiple Equilibria in a First Generation Model of Currency Crises
By Fernando A. Broner
   Presented by: Fernando Broner, Universitat Pompeu Fabra
 

Investor Protection and Exchange Rates
By Rui Albuquerque and Neng Wang
   Presented by: Rui Albuquerque, University of Rochester
 

Financial Frictions, Distribution Costs, and Current Account Crises
By Sylvain Leduc, Diego Valderrama
   Presented by: Diego Valderrama, Federal Reserve Bank of San Francisco
 

A Political Model Sovereign Debt Repayment
By Manuel Amador
   Presented by: Manuel Amador, Stanford GSB

Session 11: Financial Integration and Crises

Session Chair: Philippe Martin, University of Paris I
Date: July 1, 2004
Time: 13:30 - 15:30
 

FISCAL CRISIS RESOLUTION: TAXATION VERSUS INFLATION
By Michael Kumhof
   Presented by: Michael Kumhof, The International Monetary Fund
 

Bubbles and capital flows
By Jaume Ventura
   Presented by: Jaume Ventura, CREI and UPF
 

Crises and Growth: A Re-evaluation
By Romain Ranciere, Aaron Tornell and Fran Westermann
   Presented by: Aaron Tornell, University of California
 

The Home Market Effect and the International Transmission Mechanism
By Giancarlo Corsetti, Philippe Martin, Paolo Pesenti
   Presented by: Philippe Martin, University of Paris I

Session 12: Investment-Specific Technological Change: Evidence and Implications

Session Chair: Riccardo DiCecio, Northwestern University
Date: July 1, 2004
Time: 13:30 - 15:30
 

New Evidence on Durable Goods Biased Technological Change
By Jonas Fisher, John Fernald
   Presented by: Jonas Fisher, Federal Reserve Bank of Chicago
 

Read All About it: What happens following a technology shock
By Michelle Alexopoulos
   Presented by: Michelle Alexopoulos, University of Toronto
 

A Quantitative Study of the Replacement Problem in Frictional Economies
By Andreas Hornstein, Per Krusell, and Gianluca Violante
   Presented by: Per Krusell, University of Rochester
 

Comovement: it's not a puzzle
By Riccardo DiCecio
   Presented by: Riccardo DiCecio, Northwestern University

Session 13: Economics of the Family

Session Chair: Nezih Guner, Pennsylvania State University
Date: July 1, 2004
Time: 13:30 - 15:30
 

Social Norms, Demographic Shocks, and Dowries in Florence, 1250-1450
By Maristella Botticini
   Presented by: Maristella Botticini, Boston University
 

Efficiency with Endogenous Population Growth
By Mikhail Golosov, Larry E. Jones, Michele Tertilt
   Presented by: Michele Tertilt, Stanford University
 

Explaining Changes in Female Labour Supply in a Life-Cycle Model
By Orazio Attanasio, Hamish Low and Virginia Sánchez-Marcos
   Presented by: Orazio Attanasio, University College London
 

Marriage and Divorce since World War II
By Jeremy Greenwood and Nezih Guner
   Presented by: Nezih Guner, Pennsylvania State University

Session 14: Learning and Matching

Session Chair: Jan Eeckhout, University of Pennsylvania
Date: July 1, 2004
Time: 13:30 - 15:30
 

On the Dynamics of Information, Coordination and Regime Change
By G.M. Angeletos, C. Hellwig, and A. Pavan
   Presented by: Alessandro Pavan, Northwestern University
 

simultaneous search
By hector chade and lones smith
   Presented by: Hector Chade, Arizona State University
 

Firm-Specific Training
By Leonardo Felli and Christopher Harris
   Presented by: Leonardo Felli, London School of Economics
 

Employer Learning and General Human Capital
By Jan Eeckhout
   Presented by: Jan Eeckhout, University of Pennsylvania

Session 15: Public Economics I

Session Chair: Peter Norman, University of Wisconsin
Date: July 1, 2004
Time: 13:30 - 15:30
 

Optimal taxation with restrictions on the governmemnt budget deficit
By christian ghiglino and Karl Shell
   Presented by: Christian Ghiglino, university of bern
 

DYNAMIC OPTIMAL NON-LINEAR TAXATION UNDER NON-COMMITMENT
By Mikhail Golosov, Vasiliki Skreta and Aleh Tsyvinski
   Presented by: Mike Golosov, University of Minnesota
 

Optimal Income Taxation and Public-Goods Finance
By Martin F. Hellwig
   Presented by: Martin Hellwig, Max Planck Research Institute
 

Public Provision of Private Goods
By Peter Norman, Hanming Fang
   Presented by: Peter Norman, University of Wisconsin

Session 16: Asset Pricing 1

Session Chair: Claudio Campanale, University of Rochester
Date: July 1, 2004
Time: 13:30 - 15:30
 

Equities and Inequality
By Alessandra Bonfiglioli
   Presented by: Alessandra Bonfiglioli, Stockholm University
 

Information Markets and the Comovement of Asset Prices
By Laura Veldkamp
   Presented by: Laura Veldkamp, New York University, Stern
 

Consumption Commitments and Asset Prices
By Raj Chetty and Adam Szeidl
   Presented by: Adam Szeidl, Harvard University
 

Learning and the Return to Private Equity
By Claudio Campanale
   Presented by: Claudio Campanale, University of Rochester

Session 17: Industries, Plants, and Growth

Session Chair: Stephen Parente, University of Illinois
Date: July 1, 2004
Time: 13:30 - 15:30
 

Unpleasant Implications of Insecure Property for Optimal Fiscal Policy and Growth
By Francisco M. Gonzalez and Hugh Neary
   Presented by: Francisco Gonzalez, University of British Columbia
 

Balanced Growth with Structural Change
By Rachel Ngai and Christopher Pissarides
   Presented by: rachel ngai, london school of economics
 

Slow Recoveries
By Bergoeing, Raphael; Loayza, Norman; Repetto, Andrea
   Presented by: Raphael Bergoeing, Universidad de Chile
 

Path Dependence, Uneven Industrialization and Special Interests
By Stephen L. Parente and Rui Zhao
   Presented by: Stephen Parente, University of Illinois

Session 18: Monetary Policy I

Session Chair: Luisa Lambertini, Boston College
Date: July 1, 2004
Time: 13:30 - 15:30
 

Loan components and time varying effects of monetary policy shocks
By Wouter J Den Haan, Steven Sumner, Guy Yamashiro
   Presented by: Wouter Denhaan, London School of Economics
 

Ramsey Monetary Policy and International Relative Prices
By Ester Faia, Tommaso Monacelli
   Presented by: Ester Faia, Universitat Pompeu Fabra
 

Time Consistency in Dynamic Bargaining: The Role of Committees as Substitutes for Commitment
By Alessandro Riboni
   Presented by: Alessandro Riboni, University of Montréal
 

Monetary-Fiscal Interactions with a Conservative Central Bank
By Luisa Lambertini
   Presented by: Luisa Lambertini, Boston College

Session 19: Regime and Parameter Changes

Session Chair: Daniel Waggoner, Federal Reserve Bank of Atlanta
Date: July 1, 2004
Time: 13:30 - 15:30
 

Learning and Shifts in Trend Growth
By Rochelle M. Edge, Thomas Laubach, John C. Williams
   Presented by: Thomas Laubach, OECD
 

Optimal test for Markov switching
By Marine Carrasco, Liang Hu, Werner Ploberger
   Presented by: Marine Carrasco, University of Rochester
 

The Declining Equity Premium: What Role Does Macroeconomic Risk Play?
By Martin Lettau, Sydney C. Ludvigson, Jessica A. Wachter
   Presented by: Jessica Wachter, University of Pennsylvania
 

Effects of monetary policy regime changes in the Euro Economy
By Juan Rubio, Daniel Waggoner, and Tao Zha
   Presented by: Daniel Waggoner, Federal Reserve Bank of Atlanta

Session 20: Innovation

Session Chair: Chung Yi Tse, University of Hong Kong
Date: July 1, 2004
Time: 13:30 - 15:30
 

The expanding pharmaceutical arsenal in the war on cancer
By Frank R. Lichtenberg
   Presented by: Frank Lichtenberg, Columbia University
 

Sequential Innovation, Network Effects and the Choice of Compatibility
By Gerard Llobet and Michael Manove
   Presented by: Gerard Llobet, CEMFI
 

Technology Licensing and Technology Alliances
By Luis M B Cabral and Cristian Dezso
   Presented by: Cristian Dezso, NYU - Stern School of Business
 

New product introduction and diffusion with costly search
By Chung Yi TSE
   Presented by: Chung Yi Tse, University of Hong Kong

Session 21: Growth Perspectives

Session Chair: Guillaume Vandenbroucke, University of Rochester
Date: July 1, 2004
Time: 16:00 - 18:00
 

Investing in Patience
By Matthias Doepke and Fabrizio Zilibotti
   Presented by: Matthias Doepke, UCLA
 

Urban Structure and Growth
By Esteban Rossi-Hansberg and Mark Wright
   Presented by: Esteban Rossi-Hansberg, Stanford University
 

Explaining Growth Slowdowns in a Multisector Model: The Case of Japan
By Wilbur John Coleman II
   Presented by: Wilbur Coleman, Duke University
 

The American Frontier: A Hundred Years of Western Settlement
By Guillaume Vandenbroucke
   Presented by: Guillaume Vandenbroucke, University of Rochester

Session 22: Econometrics of Dynamic Equilibrium Models

Session Chair: Francisco Ruge-Murcia, University of Montreal
Date: July 1, 2004
Time: 16:00 - 18:00
 

deep habits
By morten o. ravn, stephanie schmitt-grohe, martin uribe
   Presented by: M O Ravn, London Business School
 

A DSGE-VAR for the Euro Area
By Marco Del Negro, Frank Schorfheide, Frank Smets, Raf Wouters
   Presented by: Marco Del Negro, Atlanta Fed
 

Estimating Dynamic Equilibrium Economies: Linear and Nonlinear Likelihood
By Jesus Fernandez-Villaverde Juan F. Rubio-Ramirez
   Presented by: Jesus Fernandez-Villaverde, University of Pennsylvania
 

Methods to Estimate Dynamic Stochastic General Equilibrium Models
By Francisco J. Ruge-Murcia
   Presented by: Francisco Ruge-Murcia, University of Montreal

Session 23: Marriage and Household Behavior

Session Chair: Claudia Olivetti, Boston University
Date: July 1, 2004
Time: 16:00 - 18:00
 

A non-parametric dynamic model of the marriage market
By Eugene Choo & Aloysius Siow
   Presented by: Aloysius Siow, University of Toronto
 

Modes of Household Behavior and Labor Supply Decisions
By Daniela Del Boca and Christopher Flinn
   Presented by: Christopher Flinn, New York University
 

The Role of the Sex Imbalance in Shaping Marital Status
By Seitz, Shannon; Rios-Rull, Jose-Victor
   Presented by: Shannon Seitz, Queen's University
 

Explaining the Decline in the Gender Wage Gap
By Stefania Albanesi, Rasmus Lentz, Claudia Olivetti
   Presented by: Claudia Olivetti, Boston University

Session 24: Experimental Economics

Session Chair: April Franco, University of Iowa
Date: July 1, 2004
Time: 16:00 - 18:00
 

Demand Reduction and Preemptive Bidding in License Auctions
By Jacob K. Goeree, Theo Offerman and Randolph Sloof
   Presented by: Theo Offerman, University of Amsterdam
 

Is Discounting Hyperbolic? Experimental Evidence
By Jess Benhabib, Alberto Bisin, Andrew Schotter
   Presented by: Alberto Bisin, New York University
 

Perception Rents in the Market for Advice
By Yaw Nyarko, Andrew Schotter, Barry Sopher
   Presented by: Yaw Nyarko, New York University
 

Organizational Learning: An Experimental Investigation
By Andreas Blume, John Duffy, April Franco
   Presented by: April Franco, University of Iowa

Session 25: Monetary Policy II

Session Chair: Nancy Stokey, University of Chicago
Date: July 1, 2004
Time: 16:00 - 18:00
 

On the Relevance of Open Market Operations
By Andreas Schabert
   Presented by: Andreas Schabert, University of Cologne
 

On the Indeterminacy of New Keynesian Economics
By Andreas Beyer and Roger E A Farmer
   Presented by: Roger Farmer, UCLA
 

Monetary Policy with State Contingent Interest Rates
By Bernardino Adao, Isabel Correia and Pedro Teles
   Presented by: Isabel Correia, Banco de Portugal, CEPR
 

Fiscal Desperation and Inflation
By Nancy L. Stokey
   Presented by: Nancy Stokey, University of Chicago

Session 26: Public Economics II

Session Chair: Philip Bond, University of Pennsylvania
Date: July 1, 2004
Time: 16:00 - 18:00
 

Racial Wage Gaps and test Score Differences: Incentives vs. Pre-Market Factors
By Andrea Moro and Peter Norman
   Presented by: Andrea Moro, University of Minnesota
 

A Model of Racial Profiling in Higher Education
By Dennis Epple, Richard Romano, Holger Sieg
   Presented by: Holger Sieg, Carnegie Mellon University
 

Do Citizens Vote Strategically (if they vote at all)? Evidence from U.S. National Elections
By Arianna Degan and Antonio Merlo
   Presented by: Arianna Degan, Universit du Qubec Montral
 

Optimal plaintiff incentives when courts are imperfect
By Philip Bond
   Presented by: Philip Bond, University of Pennsylvania

Session 27: Markets and Technology

Session Chair: ted temzelides, University of Pittsburgh
Date: July 1, 2004
Time: 16:00 - 18:00
 

The Pre-Producers
By Boyan Jovanovic
   Presented by: Boyan Jovanovic, New York University
 

Silicon Valley versus Route 128: A Search and Contracting Approach
By Espen R. Moen and Åsa Rosen
   Presented by: Espen Moen, Norwegian School of Management (BI)
 

A Matching Model of the Housing Market: Searching for a Motivated Partner
By James Albrecht, Axel Anderson, Eric Smith, Susan Vroman
   Presented by: Susan Vroman, GEORGETOWN UNIVERSITY
 

fashion statement
By ted temzelides
   Presented by: ted temzelides, University of Pittsburgh

Session 28: International Trade I

Session Chair: Michael Rolleigh, University of Minnesota
Date: July 1, 2004
Time: 16:00 - 18:00
 

Trade Policy and South Korea's Growth Miracle
By Michelle Connolly, Kei-Mu Yi
   Presented by: Kei-Mu Yi, Federal Reserve Bank of Philadelphia
 

Productivity Growth and the Trade Balance in the 1990s: the Role of Evolving Perceptions
By Luca Guerrieri, Christopher Erceg, Christopher Gust
   Presented by: Luca Guerrieri, Federal Reserve Board
 

Productivity and Tradability
By Paul Bergin and Reuven Glick
   Presented by: Reuven Glick, Federal Reserve Bank of San Francisco
 

Plant Heterogeneity and Applied General Equilibrium Models of Trade: Lessons from the CA-US FTA
By Michael Rolleigh
   Presented by: Michael Rolleigh, University of Minnesota

Session 29: Firm Behavior

Session Chair: Makoto Nirei, Santa Fe Institute
Date: July 1, 2004
Time: 16:00 - 18:00
 

Productivity, Employment, and Inventories: Smoothing Over Sticky Prices
By Yongsung Chang, Andreas Hornstein, Pierre Sarte
   Presented by: Andreas Hornstein,
 

The Dynamics of Plant-level Productivity in the U.S.
By Arpad Abraham and Kirk White
   Presented by: Arpad Abraham, Duke University
 

Why Do Firms Hold Inventories?
By Lawrence J. Christiano (Northwestern University, NBER), Terry Fitzgerald (St. Olaf College)
   Presented by: Terry J. Fitzgerald,
 

Lumpy Investment, Sectoral Propagation, and Business Cycles
By Makoto Nirei
   Presented by: Makoto Nirei, Santa Fe Institute

Session 30: Externalities

Session Chair: Klaus Neusser, Universitat Bern
Date: July 1, 2004
Time: 16:00 - 18:00
 

The Economic Value of Cultural Diversity: Evidence from US cities
By Giovanni Peri and GianMarco Ottaviano
   Presented by: Giovanni Peri, University of California, Davis
 

Multinationals and Linkages: An Empirical Investigation
By Laura Alfaro and Andr鳠Rodrez-Clare
   Presented by: Laura Alfaro, Harvard University
 

On the Contribution of Agglomeration Economies to the Spatial Concentration of U.S. Employment
By Satyajit Chatterjee
   Presented by: Satyajit Chatterjee, Federal Reserve Bank of Philadelphia
 

Externalities in U.S. Manufacturing
By Klaus Neusser
   Presented by: Klaus Neusser, Universitat Bern

Session 31: Macroeconomics and Finance

Session Chair: Vincenzo Quadrini, New York University
Date: July 2, 2004
Time: 10:00 - 12:00
 

corporate governance over the business cycle
By thomas philippon
   Presented by: thomas philippon, nyu stern
 

Risk-Taking Executives, The Value of the Firm and Economic Performance
By Francisco Covas
   Presented by: Francisco Covas, UCSD
 

Do Stock Price Bubbles Influence Corporate Investment?
By Simon Gilchrist, Charles Himmelberg, and Gur Huberman
   Presented by: Charles Himmelberg, Federal Reserve Bank of New York
 

Financial Markets and Wages
By Vincenzo Quadrini and Claudio Michelacci
   Presented by: Vincenzo Quadrini, New York University

Session 32: Industrial Organization 1: Empirical Methods in IO

Session Chair: Pascal Courty, European University Institute
Date: July 2, 2004
Time: 10:00 - 12:00
 

MORAL HAZARD AND DYNAMIC INSURANCE DATA
By Jaap H. Abbring, Pierre-Andre Chiappori, Jean Pinquet
   Presented by: Pierre-Andr Chiappori, The University of Chicago
 

Identification and Estimation in Sequential Dutch Auctions
By Bjarne Brendstrup and Harry J. Paarsch
   Presented by: Harry Paarsch, University of Iowa
 

Estimation of an Entry Model with Discrete Product Differentiation and Multiple Equilibria: An Empirical Analysis of Competition Between Banks and Thrifts
By Mark D. Manuszak and Andrew Cohen
   Presented by: Mark Manuszak, Carnegie Mellon University
 

Estimating the Welfare Gains from Responsive Pricing: Evidence from an Internet Café
By Pascal Courty and Mario Pagliero
   Presented by: Pascal Courty, European University Institute

Session 33: Life Cycle Consumption

Session Chair: Dirk Krueger, University of Pennsylvania
Date: July 2, 2004
Time: 10:00 - 12:00
 

Husbands Might Really Be That Cheap
By Matthew S. Chambers, Don E. Schlagenhauf, Eric R. Young
   Presented by: Matthew Chambers, Towson University
 

Consumption and Work Effort over the Lifecycle
By Selahattin Imrohoroglu and Gary D. Hansen
   Presented by: Gary Hansen, UCLA
 

Consumption and Earnings Inequality with Risky Human Capital
By Mark Huggett, Gustavo Ventura and Amir Yaron
   Presented by: Gustavo Ventura, Penn State
 

How do households smooth earnings fluctuations: what can we learn from Consumer Expenditure Data?
By Dirk Krueger and Fabrizio Perri
   Presented by: Dirk Krueger, University of Pennsylvania

Session 34: Technology adoption, capital flows and growth

Session Chair: Roberto Samaniego, George Washington University
Date: July 2, 2004
Time: 10:00 - 12:00
 

What Does the Walrasian Auctioneer Know? Technology Adoption and Financial Innovation
By Ana Fernandes
   Presented by: Ana Fernandes, CEMFI
 

Credit Market Imperfections and International Capital Market Flows
By Pamela Labadie and Bruce Smith
   Presented by: Pamela Labadie,
 

Financial Intermediation, markets, and growth
By Falko Fecht, Kevin Huang, Antoine Martin
   Presented by: Falko Fecht,
 

Investment Specific Technical Change and the Production of Ideas
By Roberto M Samaniego
   Presented by: Roberto Samaniego, George Washington University

Session 35: Monetary policy with sticky prices

Session Chair: Andrew Levin, Federal Reserve Board
Date: July 2, 2004
Time: 10:00 - 12:00
 

Taylor Rules in an Estimated Model of a Small Open Economy
By Steven Ambler, Ali Dib, and Nooman Rebei
   Presented by: Ali Dib, Bank of Canada
 

Inflation Stabilization and Welfare: The Case of a Distorted Steady State
By Pierpaolo Benigno and Michael Woodford
   Presented by: Pierpaolo Benigno, New York University
 

State-Dependent Pricing and the New Keynesian Phillips Curve
By Mark Gertler and John Leahy
   Presented by: John Leahy, New York University
 

Optimal Monetary Policy with Endogenous Capital Accumulation
By Andrew T. Levin and David Lopez-Salido
   Presented by: Andrew Levin, Federal Reserve Board

Session 36: Human Capital: Theory and Evidence

Session Chair: Uta Schoenberg, University of Rochester
Date: July 2, 2004
Time: 10:00 - 12:00
 

The Welfare Consequences of the NBA: Superstar Markets and Human Capital Accumulation
By Krishna B. Kumar and Lior Menzly
   Presented by: Lior Menzly, USC
 

Why does educational attainment differ across U.S. states?
By Lutz Hendricks
   Presented by: Lutz Hendricks, Iowa State University
 

The Technology of Skill Formation
By Pedro Carneiro, Flavio Cunha and James Heckman
   Presented by: Flavio Cunha, University of Chicago
 

Wage growth due to human capital accumulation and job search: The United States versus West-Germany
By Uta Schoenberg
   Presented by: Uta Schoenberg, University of Rochester

Session 37: Optimal Taxation

Session Chair: Francois Velde, Federal Reserve Bank of Chicago
Date: July 2, 2004
Time: 10:00 - 12:00
 

Optimal taxation with persistent shocks
By Marek Kapicka
   Presented by: Marek Kapicka, University of California, Santa Barbara
 

Taxing Capital: Not a Bad Idea After All
By Juan C. Conesa, Dirk Krueger
   Presented by: Juan Carlos Conesa, Universitat Pompeu Fabra
 

Optimal Minimum Wage
By Arantza Gorostiaga, Juan F Rubio-Ramirez
   Presented by: Juan Rubio-Ramirez, Federal Reserve Bank of Atlanta
 

Sustaining a Time-Consistent Ramsey Plan with Options
By Thomas Sargent and François Velde
   Presented by: Francois Velde, Federal Reserve Bank of Chicago

Session 38: Labor Markets and Policies: Structural Estimation

Session Chair: Silvio Rendon, University of Western Ontario
Date: July 2, 2004
Time: 10:00 - 12:00
 

Minimum wages and compliance in markets with search frictions
By Zvi Eckstein, Suqin Ge, Barbara Petrongolo
   Presented by: barbara petrongolo, london school of economics
 

Job Search and Hyperbolic Discounting: Structural Estimation and Policy Evaluation
By M. Daniele Paserman
   Presented by: M. Paserman, Hebrew University
 

The Knowledge Lift: Adult Education in Sweden
By James Albrecht, Gerard van den Berg, Susan Vroman
   Presented by: James Albrecht, Georgetown University
 

Unemployment Dynamics and Social Security
By Silvio Rendon and Juan Rojas
   Presented by: Silvio Rendon, University of Western Ontario

Session 39: Contracts and Markets

Session Chair: Karl Shell, Cornell University
Date: July 2, 2004
Time: 10:00 - 12:00
 

Incomplete Contracts and the Product Cycle
By Pol Antras
   Presented by: Pol Antras,
 

Non-Exclusive Contracts, Collateralized Trade, and a Theory of an Exchange
By Yaron Leitner
   Presented by: Yaron Leitner, Federal Reserve Bank of Philadelphia
 

Why do banks promise to pay par on demand?
By Gerald Dwyer and Margarita Samartín
   Presented by: Margarita Samartín, Universidad Carlos III
 

Bank Portfolio Restrictions and Equilibrium Bank Runs
By James Peck and Karl Shell
   Presented by: Karl Shell, Cornell University

Session 40: International Macroeconomic Puzzles

Session Chair: Virgiliu Midrigan, Ohio State University
Date: July 2, 2004
Time: 10:00 - 12:00
 

Net Foreing Assets and Imperfect Pass-through: The Consumption-Real Exchange Rate Anomaly
By Jorge Selaive and Vicente Tuesta
   Presented by: Vicente Tuesta, New York University
 

On the consumption real exchange rate anomaly
By Gianluca Benigno and Christoph Thoenissen
   Presented by: Christoph Thoenissen, University of St Andrews
 

Some Puzzles on International Comovements: The Role of International Trade and the Structure of the Banking Industry
By Maria Pia Olivero
   Presented by: Maria Olivero, Duke University
 

International Price Dispersion in State-Dependent Pricing Models: Theory and Evidence
By Virgiliu Midrigan
   Presented by: Virgiliu Midrigan, Ohio State University

Session 41: International Debt

Session Chair: Jonathan Heathcote, Georgetown University
Date: July 2, 2004
Time: 13:30 - 15:30
 

Competition and Sovereign Risk
By Mark L. J. Wright
   Presented by: Mark Wright, Stanford University
 

Renegotiation, Collective Action Clauses and Sovereign Debt Markets
By Federico Weinschelbaum and Jose Wynne
   Presented by: Jose Wynne, Duke University
 

Public Debt, Fiscal Solvency & Macroeconomic Uncertainty in Emerging Markets: The Tale of the Tormented Insurer
By Enrique G. Mendoza and Marcelo Oviedo
   Presented by: Enrique G. Mendoza, University of Maryland
 

Dollarization and Financial Integration
By Cristina Arellano and Jonathan Heathcote
   Presented by: Cristina Arellano, Duke University

Session 42: Industrial Organization 2

Session Chair: Susanna Esteban, Pennsylvania State University
Date: July 2, 2004
Time: 13:30 - 15:30
 

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

Competition between Computer Operating Systems
By Francesca Lotti and Markus Mobius
   Presented by: Markus Mobius, Harvard University
 

Power and Information Leakage in Organizations
By Mariagiovanna Baccara
   Presented by: Mariagiovanna Baccara, Stern School of Business, NYU
 

Store Design with Self-Control Preferences
By Susanna Esteban
   Presented by: Susanna Esteban, Pennsylvania State University

Session 43: Fiscal Policy

Session Chair: Sevin Yeltekin, Northwestern University
Date: July 2, 2004
Time: 13:30 - 15:30
 

Does the US government hedge against government expenditure risk?
By Hanno Lustig, Chris Sleet and Sevin Yeltekin
   Presented by: Hanno Lustig, University of Chicago
 

Intergenerational Risk Sharing and Fiscal Policy
By Henning Bohn
   Presented by: Henning Bohn, University of California
 

War Finance
By Henry Siu
   Presented by: Henry Siu, UNIVERSITY OF BRITISH COLUMBIA
 

Optimal Fiscal Policy and Recursive Utility
By Hanno Lustig, Chris Sleet, Sevin Yeltekin
   Presented by: Sevin Yeltekin, Northwestern University

Session 44: Labor Market Dynamics and the Macroeconomy

Session Chair: Dale Mortensen, Northwestern University
Date: July 2, 2004
Time: 13:30 - 15:30
 

On the Changing Structure of Unemployment Duration
By Toshihiko Mukoyama and Aysegul Sahin
   Presented by: Toshihiko Mukoyama, Concordia University and CIREQ
 

Business Cycles, Wage Setting, and Asymmetric Information
By Robert Shimer
   Presented by: Robert Shimer, University of Chicago
 

Job-to-job quits and corporate culture
By Giuseppe Moscarini
   Presented by: Giuseppe Moscarini, Yale University
 

Innovation, Growth, and Labor Market Policy
By Dale T. Mortensen
   Presented by: Dale Mortensen, Northwestern University

Session 45: Contracting and Dynamic Relations

Session Chair: Marco Battaglini, Princeton University
Date: July 2, 2004
Time: 13:30 - 15:30
 

Trading favors: optimal exchange and forgiveness.
By Christine Hauser and Hugo A. Hopenhayn
   Presented by: Hugo Hopenhayn, UC:LA
 

Trust Relations
By Atila Abdulkadiroglu, Kyle Bagwell
   Presented by: Atila Abdulkadiroglu, Columbia University
 

Profit Sharing and the Role of Professional Partnerships
By Jonathan Levin and Steven Tadelis
   Presented by: Steve Tadelis, Stanford University
 

Pareto Efficient Income Taxation with Stochastic Abilities
By Marco Battaglini and Stephen Coate
   Presented by: Marco Battaglini, Princeton University

Session 46: Housing and the Macroeconomy 1

Session Chair: Don Schlagenhauf, Florida State University
Date: July 2, 2004
Time: 13:30 - 15:30
 

Housing Collateral and Consumption Insurance Across US Regions
By Hanno Lustig and Stijn Van Nieuwerburgh
   Presented by: Stijn Van Nieuwerburgh, Stern School of Business, NYU
 

The Price and Quantity of Residential Land in the United States
By Morris Davis and Jonathan Heathcote
   Presented by: Morris Davis, Federal Reserve Board of Governors
 

Housing and the Macroeconomy: The Role of Implicit Guarantees for Government Sponsored Enterprises
By Karsten Jeske and Dirk Krueger
   Presented by: Karsten Jeske, Federal Reserve Bank of Atlanta
 

Homeownership and Public Housing Policy
By Matt Chambers, Carlos Garriga,Don Schlagenhauf
   Presented by: Don Schlagenhauf, Florida State University

Session 47: Historical Perspectives on Technology and Economic Growth

Session Chair: Peter Rousseau,
Date: July 2, 2004
Time: 13:30 - 15:30
 

Primary Sector Shocks and Early American Industrialization
By Joseph Davis, Vanguard Group; Christopher Hanes, State University of New York at Binghamton; Paul Rhode, University of North Carolina, Chapel Hill
   Presented by: Paul Rhode, University of North Carolina
 

Suburbanization and the Automobile
By Karen Kopecky and Ming Hong Suen
   Presented by: Karen Kopecky, University of Rochester
 

Historical Technology Adoption in a Neoclassical Model
By Diego Comin and Bart Hobijn
   Presented by: Bart Hobijn, Federal Reserve Bank of New York
 

General Purpose Technologies
By Boyan Jovanovic and Peter L. Rousseau
   Presented by: Peter Rousseau,

Session 48: Income and Consumption inequality

Session Chair: Tullio Jappelli, CSEF
Date: July 2, 2004
Time: 13:30 - 15:30
 

Learning your Earning: Are Labor Income Shocks Really That Persistent?
By Fatih Guvenen
   Presented by: Fatih Guvenen, University of Rochester
 

Consumption Inequality, Income Uncertainty and Insurance
By Richard Blundell, Ian Preston and Luigi Pistaferri
   Presented by: Richard Blundell, University College, London
 

US Earnings and Employment Dynamics 1961 - 2002: Facts and Interpretation
By Zvi Eckstein and va Nagypl
   Presented by: Zvi Eckstein, Tel Aviv University and Minnesota
 

Intertemporal choice and consumption mobility
By Tullio Jappelli - Luigi Pistaferri
   Presented by: Tullio Jappelli, CSEF

Session 49: Investment and Financing

Session Chair: Ronald Giammarino, University of British Columbia
Date: July 2, 2004
Time: 13:30 - 15:30
 

Shareholders Unanimity With Incomplete Markets
By Daniele Coen-Pirani
   Presented by: Daniele Coen-Pirani, Carnegie Mellon University
 

Dynamics of Corporate Capital Structure
By Toni Whited
   Presented by: Christopher Hennessy,
 

Investment and Asset Prices with Financing Constraints
By Joao Gomes and Amir Yaron
   Presented by: Joao Gomes, University of Pennsylvania
 

Corporate Investment and Asset Price Dynamics: Implications for Post-SEO Performance
By Murray Carlson, Adlai Fisher, and Ron Giammarino
   Presented by: Ronald Giammarino, University of British Columbia

Session 50: Public Policy and Demography

Session Chair: Murat Iyigun, University of Colorado
Date: July 2, 2004
Time: 13:30 - 15:30
 

Social Security and its Fertility Effects
By Michele Boldrin, Mariacristina De Nardi, and Larry E. Jones
   Presented by: Mariacristina De Nardi, University of Minnesota
 

To segregate or to integrate: education politics and democracy
By David de la Croix and Matthias Doepke
   Presented by: David de la Croix,
 

Antidiscrimination policy with culturally biased testing
By Adrian Masters
   Presented by: Adrian Masters, SUNY Albany
 

Building the Family Nest: A Collective Household Model with Competing Pre-Marital Investments and Spousal Matching
By Murat F. Iyigun and Randall P. Walsh
   Presented by: Murat Iyigun, University of Colorado

Session 51: Monetary Policy III

Session Chair: Jean-Pascal Benassy, CEPREMAP
Date: July 2, 2004
Time: 13:30 - 15:30
 

Markets Segmentation and the Hump-Shaped Response of Output to Monetary Policy Shocks
By Filippo Occhino
   Presented by: Filippo Occhino, Rutgers University
 

The Welfare Cost of Business Cycles in an Economy with Nonclearing Markets
By Franck Portier and Luis A. Puch
   Presented by: Luis Puch, Universidad Complutense
 

Near-Rational Exuberance
By James Bullard, George Evans, Seppo Honkapohja
   Presented by: James Bullard, Federal Reserve Bank of St. Louis
 

Liquidity Effects in non-Ricardian Economies
By Benassy Jean-Pascal
   Presented by: Jean-Pascal Benassy, CEPREMAP

Session 52: International Productivity Differences

Session Chair: Berthold Herrendorf, WP Carey School of Business, ASU
Date: July 2, 2004
Time: 16:00 - 18:00
 

Minimum Consumption, Uncertainty and Income Differences
By B. Ravikumar
   Presented by: B Ravikumar, University of Iowa
 

On Capital Market Imperfections as an Origin of Low TFP and Economic Rents
By Andres Erosa and Ana Hidalgo
   Presented by: Andres Erosa, University of Toronto
 

Policy Distortions and Aggregate Productivity with Heterogeneous Plants
By Diego Restuccia and Richard Rogerson
   Presented by: Diego Restuccia, University of Toronto
 

How Trade Liberalizations Affect Productivity
By Berthold Herrendorf, Arilton Teixeira
   Presented by: Berthold Herrendorf, WP Carey School of Business, ASU

Session 53: Empirical Methods in IO and Labor

Session Chair: Patrick Bajari, Duke University
Date: July 2, 2004
Time: 16:00 - 18:00
 

Order Flow and the Formation of Dealer Bids in Treasury Auctions
By Ali Hortacsu, Samita Sareen
   Presented by: Samita Sareen, Bank of Canada
 

Smaller Schools or Longer Bus Rides? Returns to Scale and School Choice
By Margaret Ledyard
   Presented by: Meg Ledyard,
 

Producing the Right Pond: Colleges as Network Creators
By Christopher R. Makler
   Presented by: Christopher Makler, University of Pennsylvania
 

Point Estimation of Discrete Games
By Patrick Bajari and Han Hong
   Presented by: Patrick Bajari, Duke University

Session 54: Investment 2

Session Chair: Ellen McGrattan, Federal Reserve Bank of Minneapolis
Date: July 2, 2004
Time: 16:00 - 18:00
 

Q Theory Without Adjustment Costs & Cash Flow Effects Without Financing Constraints
By Andrew B. Abel and Janice C. Eberly
   Presented by: Andrew Abel, The Wharton School of the University of Pennsylvania
 

Corporate Governance Institutions, Investment, and the Macroeconomy
By Antonio Falato
   Presented by: Antonio Falato, Columbia University
 

Firm Size Dynamics in the Aggregate Economy
By Esteban Rossi-Hansberg, and Mark L.J. Wright
   Presented by: Esteban Rossi-Hansberg, Stanford University
 

Predictions of the Price of Capital
By Ellen McGrattan and Edward Prescott
   Presented by: Ellen McGrattan, Federal Reserve Bank of Minneapolis

Session 55: international macroeconomics

Session Chair: Fabrizio Perri, New York University
Date: July 2, 2004
Time: 16:00 - 18:00
 

Export Decisions and International Business Cycles
By George Alessandria and Horag Choi
   Presented by: George Alessandria, University of Pennsylvania
 

International Trade, Production Sharing, and the Transmission of Business Cycles
By Ariel Burstein, Chris Kurz, and Linda Tesar
   Presented by: Ariel Burstein, UCLA
 

International Risk Sharing with exotic preferences
By David Backus, Bryan Routledge, and Stan Zin
   Presented by: Stanley Zin, Carnegie Mellon University
 

The international diversification puzzle is not as bad as you think
By Jonathan Heathcote, Fabrizio Perri
   Presented by: Fabrizio Perri, New York University

Session 56: Money and sticky prices

Session Chair: Pedro Teles, Federal Reserve Bank of Chicago
Date: July 2, 2004
Time: 16:00 - 18:00
 

Large Devaluations and the Real Exchange Rate
By Ariel Burstein, Martin Eichenbaum and Sergio Rebelo
   Presented by: Sergio Rebelo, Northwestern University
 

Menu Costs and Phillips Curves
By Mike Golosov and Robert Lucas
   Presented by: Mike Golosov, University of Minnesota
 

State Dependent Pricing and Business Cycle Asymmetries
By Michael B. Devereux and Henry Siu
   Presented by: Henry Siu, UNIVERSITY OF BRITISH COLUMBIA
 

Instruments of Monetary Policy
By Bernardino Adao, Isabel Correia, Pedro Teles
   Presented by: Pedro Teles, Federal Reserve Bank of Chicago

Session 57: Occupational Mobility

Session Chair: Claudio Michelacci, CEMFI
Date: July 2, 2004
Time: 16:00 - 18:00
 

Aggregate Worker Reallocation and Occupational Mobility in the United States: 1976-2000
By G.Moscarini and F.Vella
   Presented by: Francis Vella,
 

Occupational Specificity of Human Capital
By Gueorgui Kambourov and Iourii Manovskii
   Presented by: Iourii Manovskii, University of Pennsylvania
 

Patterns of Occupational Mobility
By Eva Nagypal
   Presented by: Eva Nagypal, Northwestern University
 

Social Contacts and Occupational Choice
By Samuel Bentolila, Claudio Michelacci, and Javier Suarez
   Presented by: Claudio Michelacci, CEMFI

Session 58: Bounded Rationality

Session Chair: Derek Laing,
Date: July 2, 2004
Time: 16:00 - 18:00
 

Shrouded Attributes and the Curse of Educatoin
By Xavier Gabaix and David Laibson
   Presented by: David Laibson, Harvard University
 

An Economist's view on Neuroeconomics
By Aldo Rustichini
   Presented by: Aldo Rustichini, University of Minnesota
 

The Absentminded Consumer
By Andrew Caplin and John Leahy
   Presented by: Andrew Caplin, New York University
 

Epiphany: A Search Theoretic Approach to Modelling Boundedly Rational Agents
By Derek Laing (Penn State) and Eliot Maenner (Essex)
   Presented by: Derek Laing,

Session 59: Structural and Empirical Issues in Consumer Credit

Session Chair: Jim MacGee, University of Western Ontario
Date: July 2, 2004
Time: 16:00 - 18:00
 

Evidence on the Effect of US Consumer Bankruptcy Exemptions
By Charles Grant
   Presented by: Charles Grant, European University Institute
 

Consumption Smoothing and the Structure of Labor and Credit Markets
By Giuseppe Bertola and Winfried Koeniger
   Presented by: giuseppe bertola, U.Torino
 

A Competitive Theory of Credit Scoring
By Satyajit Chatterjee, Dean Corbae, Victor Rios-Rull
   Presented by: Dean Corbae, University of Texas
 

Accounting for the Rise in Consumer Bankruptcies in the U.S. and Canada
By Igor Livshits, Jim MacGee, Michele Tertilt
   Presented by: Jim MacGee, University of Western Ontario

Session 60: Political Economy and Macroeconomics

Session Chair: Giorgio Bellettini, University of Bologna
Date: July 2, 2004
Time: 16:00 - 18:00
 

Sustaining Social Security
By Martin Gonzalez-Eiras, Dirk Niepelt
   Presented by: Dirk Niepelt, Stockholm University
 

On the dynamic inefficiency of governments
By Marina Azzimonti Renzo
   Presented by: Marina Azzimonti Renzo, University of Rochester
 

What Social Security: Beveridgean or Bismarckian?
By J.Ignacio Conde Ruiz, Paola Profeta
   Presented by: Paola Profeta, CORE, University of Pavia and Universita' Bocconi
 

Unions and the political economy of immigration
By Giorgio Bellettini and Carlotta Berti Ceroni
   Presented by: Giorgio Bellettini, University of Bologna

Session 61: Housing and the Macroeconomy 2

Session Chair: Wenli Li, Federal Reserve Bank of Philadelphia
Date: July 2, 2004
Time: 16:00 - 18:00
 

Housing, Capital Investment, and Credit Market Imperfections
By Charles Ka Yui Leung and Zhixiong Zeng
   Presented by: Charles Ka Yui LEUNG, (nil)
 

Housing v. Financial Wealth: a Cross-Country Comparison
By Monika Piazzesi, Martin Schneider
   Presented by: martin schneider, NYU
 

How do house prices affect consumption? Evidence from micro data.
By John Y. Campbell, Joao F. Cocco
   Presented by: Joao Cocco, London Business School
 

A Model of Life-Cycle Housing Choices with Uninsurable Labor Income and House Price Risks
By Wenli Li and Rui Yao
   Presented by: Wenli Li, Federal Reserve Bank of Philadelphia

Session 62: Industrial Organization 3: Empirical Methods in IO

Session Chair: Thomas Holmes, University of Minnesota
Date: July 3, 2004
Time: 9:30 - 11:30
 

Price Discrimination in the Steel Market
By Hui Man Chan, George Hall, and John Rust
   Presented by: George Hall, Yale University
 

qGMM Estimation of Sunk Costs
By Jeffrey R. Campbell & Jonas D.M. Fisher
   Presented by: Jeffrey Campbell, Federal Reserve Bank of Chicago
 

Local Competition, Product Substitutability, and Prices: An Empirical Test
By Chad Syverson
   Presented by: Chad Syverson, University of Chicago
 

The Dynamics of Unionizing Establishments: A Learning Theory and Some Evidence
By Thomas J. Holmes
   Presented by: Thomas Holmes, University of Minnesota

Session 63: Term Structure and Credit Spreads

Session Chair: Wendy Edelberg, Federal Reserve Board
Date: July 3, 2004
Time: 9:30 - 11:30
 

A Macro-Finance Model of the Term Structure, Monetary Policy, and the Economy
By Glenn Rudebusch and Tao Wu
   Presented by: Glenn Rudebusch, Federal Reserve Bank of San Francisco
 

New-Keynesian Macroeconomics and the Term Structure
By Geert Bekaert, Seonghoon Cho and Antonio Moreno
   Presented by: Antonio Moreno, Universidad de Navarra
 

Estimating Default Risk Premia from Default Swap Rates and EDFs
By Antje Berndt, Rohan Douglas, Darrell Duffie, Mark Ferguson, David Schranz
   Presented by: Antje Berndt, Cornell University
 

Risk-based Pricing of Interest Rates in Household Loan Markets
By Wendy Edelberg
   Presented by: Wendy Edelberg, Federal Reserve Board

Session 64: Computational Methods

Session Chair: Salvador Ortigueira,
Date: July 3, 2004
Time: 9:30 - 11:30
 

Improving tatonnement methods for solving heterogenous agent models
By Alexander Ludwig
   Presented by: Alexander Ludwig, Mannheim Research Institute for the Economics of Aging - MEA
 

Which order is too much? An application to a model with staggered price and wage contracts
By Michel JUILLARD and Florian PELGRIN
   Presented by: PELGRIN Florian, Bank of Canada
 

Equilibrium in a Dynamic Limit Order Market
By Ronald L. Goettler, Christine A. Parlour, Uday Rajan
   Presented by: Christine Parlour, Carnegie-Mellon University
 

Markovian Optimal Taxation
By Salvador Ortigueira
   Presented by: Salvador Ortigueira,

Session 65: Collusion

Session Chair: Andrzej skrzypacz, Stanford University
Date: July 3, 2004
Time: 9:30 - 11:30
 

Endogeous Monitoring
By Michihiro Kandori, Ichiro Obara
   Presented by: Ichiro Obara, UCLA
 

A Refinement of Sequential Equilibrium with Application to Decentralized Collusion
By Peter Eso and James Schummer
   Presented by: Peter Eso, Northwestern Unviersity
 

The folk theorem for all games with almost perfect monitoring
By Johannes Horner and Wojciech Olszewski
   Presented by: Johannes Horner, Northwestern University
 

Impossibility of Collusion under Imperfect Monitoring with Flexible Production
By Yuliy Sannikov, Andrzej Skrzypacz
   Presented by: Andrzej skrzypacz, Stanford University

Session 66: Labor Economics

Session Chair: Maurizio Mazzocco, University of Wisconsin-Madison
Date: July 3, 2004
Time: 9:30 - 11:30
 

Why are similar workers paid differently? The role of social networks.
By Francois Fontaine
   Presented by: Francois Fontaine, Universite Paris 1 - CNRS
 

Optimal Job Design and Career Dynamics in the Presence of Uncertainty
By Elena Pastorino
   Presented by: Elena Pastorino, University of Pennsylvania
 

Job protection and family policies : The Macho hypothesis
By Yann Algan and Pierre Cahuc
   Presented by: Yann Algan, EUREQua
 

The Effect of Marriage Shocks on Wealth Dynamics
By Lucas W. Davis, Maurizio Mazzocco, Shintaro Yamaguchi
   Presented by: Maurizio Mazzocco, University of Wisconsin-Madison

Session 67: International Trade 2

Session Chair: Fabio Ghironi, Boston College
Date: July 3, 2004
Time: 9:30 - 11:30
 

An Anatomy of International Trade: Evidence from French Firms
By Jonathan Eaton, Samuel Kortum, Francis Kramarz
   Presented by: Jonathan Eaton, New York University
 

Implications of the Eaton-Kortum Model of International Trade
By Fernando Alvarez and Robert E. Lucas, Jr.
   Presented by: Robert Lucas, Jr., University of Chicago
 

Globalization and the Gains from Variety
By Christian Broda and David Weinstein
   Presented by: Christian Broda, Federal Reserve Bank of New York
 

International Trade and Macroeconomic Dynamics with Heterogeneous Firms
By Fabio Ghironi, Marc Melitz
   Presented by: Fabio Ghironi, Boston College

Session 68: Monetary Search Models

Session Chair: Brian Peterson, Indiana University
Date: July 3, 2004
Time: 9:30 - 11:30
 

Search, Limited Participation, and Monetary Policy
By Stephen Williamson
   Presented by: Stephen Williamson, University of Iowa
 

Money, Credit, and Banking
By Aleksander Berentsen, Gabriele Camera, Christopher Waller
   Presented by: Aleksander Berentsen, University of Basel
 

Greasing the Wheels of Trade: Inflation with Menu Costs and Search Frictions
By Ben Craig and Guillaume Rocheteau
   Presented by: Ben Craig, Federal Reserve Bank
 

Precautionary versus Transactions Motive: The Effects of Aggregate Fluctuations in a Monetary Economy
By Brian Peterson
   Presented by: Brian Peterson, Indiana University

Session 69: Dynamic Contracts

Session Chair: Gian Luca Clementi, New York University
Date: July 3, 2004
Time: 9:30 - 11:30
 

An Adverse Selection Model of Optimal Unemployment Insurance
By Marcus Hagedorn, Ashok Kaul, Tim Mennel
   Presented by: Tim Mennel, University of Bonn
 

First Order Approach for Principal-Agent Models with Hidden Borrowing and Lending: The Two Period Case
By Arphad Abraham and Nicola Pavoni
   Presented by: Nicola Pavoni, UCL
 

Fast Bargaining in Bankruptcy
By David Benjamin
   Presented by: David Benjamin, University of Minnesota
 

Legal Institutions, Sectoral Heterogeneity, and Economic Development
By Rui Castro - Gian Luca Clementi - Glenn MacDonald
   Presented by: Gian Luca Clementi, New York University

Session 70: Business Cycles Models

Session Chair: Marcelo Veracierto,
Date: July 3, 2004
Time: 9:30 - 11:30
 

Credit Shocks in a Monetary Business Cycle
By Szilard Benk, Max Gillman, and Michal Kejak
   Presented by: Max Gillman, Central European University
 

Betting against your neighbor: a quantitative investigation
By Irasema Alonso and Finn Kydland
   Presented by: Irasema Alonso, University of Rochester
 

Occasionally Binding Collateral Constraints in RBC Models
By Emilio Espino & Thomas Hintermaier
   Presented by: Emilio Espino, Institute for Advanced Studies
 

Firing Costs and Business Cycle Fluctuations
By Marcelo Veracierto
   Presented by: Marcelo Veracierto,

Session 71: European Unemployment

Session Chair: Alain Delacroix, Purdue University
Date: July 3, 2004
Time: 9:30 - 11:30
 

Capital Flows, Incomplete Markets, and the U.S. European Unemployment Gap
By Allen Head and Karlis Smits
   Presented by: Allen Head, Queen's University
 

The Missing Link: Product Market Regulation, Collective Bargaining and the European Unemployment Puzzle
By Monique Ebell and Christian Haefke
   Presented by: Monique Ebell, Humboldt-University of Berlin
 

Unemployment Benefits and Unemployment Rates of Low-Skilled and Old Workers in West Germany: A Search Equilibrium Approach
By Andrey Launov and Joachim Wolff
   Presented by: Andrey Launov, Goettingen University
 

Trade and the (Dis) Incentive to Reform Labor Markets: The Case of Reform in the European Union
By George Alessandria & Alain Delacroix
   Presented by: Alain Delacroix, Purdue University

Session 72: Heterogeneous Agents Economies

Session Chair: Radim Bohacek, CERGE
Date: July 3, 2004
Time: 9:30 - 11:30
 

A dynamic matching model with downward wage rigidity
By James Costain and Marcel Jansen
   Presented by: James Costain, Univ. Carlos III de Madrid
 

Risk Aversion, Wealth and Background Risk
By Luigi Guiso and Monica Paiella
   Presented by: Monica Paiella, Bank of Italy
 

Population Aging and International Capital Flows
By David Domeij and Martin Floden
   Presented by: Martin Floden, Stockholm School of Economics
 

On the Optimal Tax Schedule
By Radim Bohacek, Michal Kejak
   Presented by: Radim Bohacek, CERGE

Session 73: Asset Pricing 2

Session Chair: John Cochrane,
Date: July 3, 2004
Time: 13:00 - 15:00
 

Conditional Betas
By Tano Santos and Pietro Veronesi
   Presented by: Pietro Veronesi, University of Chicago
 

The Price Impact and Survival of Irrational Traders
By Leonid Kogan, Stephen Ross, Jiang Wang, Mark Westrefield
   Presented by: Leonid Kogan, MIT
 

Accounting for the Growth and Financial Returns of Firms
By Ayse Imrohoroglu, Monika Piazzesi and Selale Tuzel
   Presented by: Monika Piazzesi, University of Chicago
 

Two Trees: Asset Price Dynamics Induced by Market Clearing
By John H. Cochrane, Francis Longstaff, Pedro Santa-Clara
   Presented by: John Cochrane,

Session 74: Trade and Development

Session Chair: Steve Redding, London School of Economics
Date: July 3, 2004
Time: 13:00 - 15:00
 

Trade and Inequality in Developing Countries: An Empirical Assessment
By Daniel Trefler and Susan Zhu
   Presented by: Daniel Trefler, University of Toronto
 

A Theory of North-South Trade and Globalization
By Elias Dinopoulos and Paul Segerstrom
   Presented by: Paul Segerstrom, Stockholm School of Economics
 

Globalization, Divergence and Stagnation
By Gino Gancia
   Presented by: Gino Gancia, CREI and UPF
 

The Unequal Effects of Trade Liberalization: Theory and Evidence from India
By P Aghion, R Burgess, S Redding and F Zilibotti
   Presented by: Steve Redding, London School of Economics

Session 75: Empirical Studies of Human Capital and the Labor Market

Session Chair: Chris Robinson, University of Western Ontario
Date: July 3, 2004
Time: 13:00 - 15:00
 

Education, Self-Selection and Intergenerational Transmission of Abilities
By Adalbert Mayer
   Presented by: Adalbert Mayer, Texas A&M
 

Estimating a General Equilibrium Model of Intersectoral Mobility with Aggregate Shocks
By Donghoon Lee, Kenneth Wolpin
   Presented by: Donghoon Lee, NYU
 

Early and Late Human Capital Investments, Credit Constraints, and the Family
By Lance Lochner and Elizabeth Caucutt
   Presented by: Lance Lochner, University of Western Ontario
 

Technological Change in the Production of Human Capital: Implications for Human Capital Stocks, Wages and Skill Differentials
By Audra J. Bowlus and Chris Robinson
   Presented by: Chris Robinson, University of Western Ontario

Session 76: Models of Saving and Consumption Behavior

Session Chair: Matteo Iacoviello, Boston College
Date: July 3, 2004
Time: 13:00 - 15:00
 

Consumption over the Life Cycle: Some Facts from Consumer Expenditure Survey Data
By Dirk Krueger, Jesus Fernandez-Villaverde
   Presented by: Jesus Fernandez-Villaverde, University of Pennsylvania
 

The Effects of Health, Wealth and Wages on Labor Supply and Retirement Behavior
By Eric French
   Presented by: Eric French, Federal Reserve Bank of Chicago
 

Pension Reform and Endogenous Borrowing Constraints
By Juan Rojas, Carlos Urrutia
   Presented by: Carlos Urrutia, ITAM
 

Consumption, House Prices and Collateral Constraints: a Structural Econometric Analysis
By Matteo Iacoviello
   Presented by: Matteo Iacoviello, Boston College

Session 77: Industrial Organization 4: Theory and Empirics of Industry Dynamics

Session Chair: Lanier Benkard, Stanford University
Date: July 3, 2004
Time: 13:00 - 15:00
 

Finite State Dynamic Games with Asymmetric Information: A Computational Framework.
By Chaim Fershtman and Ariel Pakes.
   Presented by: Chaim Fershtman, The Eitan Berglas School of Economics
 

Foundations of Markov-Perfect Industry Dynamics: Existence, Purification, and Multiplicity
By Ulrich Doraszelski, Mark Satterthwaite
   Presented by: Ulrich Doraszelski, Hoover Institution
 

Dynamic Oligopoly with Network Effects
By Nicholas Economides, Matt Mitchell, Andy Skrzypacz
   Presented by: Matthew Mitchell, University of Iowa
 

Estimating Dynamic Models of Imperfect Competition
By Bajari, P., Benkard, C. L., and J. Levin
   Presented by: Lanier Benkard, Stanford University

Session 78: Contracts, investment and asset prices

Session Chair: Felix Kubler, Stanford University
Date: July 3, 2004
Time: 13:00 - 15:00
 

Endogenous Trading Constraints with Incomplete Asset Markets
By Arpad Abraham and Eva Carceles Poveda
   Presented by: Eva Carceles Poveda, SUNY at Stony Brook
 

Firm Dynamics, Investment and Debt Portfolio: Balance Sheet Effects of the Mexican Crisis of 1994
By Sangeeta Pratap, Carlos Urrutia
   Presented by: Sangeeta Pratap, ITAM
 

Uncertainty and Long Term Labor Contracts
By Martin Gervais, Igor Livshits and Césaire Meh
   Presented by: Martin Gervais, The University of Western Ontario
 

Leverage, Incomplete Markets and Crises
By John Geanakoplos, Felix Kubler
   Presented by: Felix Kubler, Stanford University

Session 79: Economic Growth II

Session Chair: Nils-Petter Lagerloef, York University
Date: July 3, 2004
Time: 13:00 - 15:00
 

Early Literacy Achievements, Population Density and the Transition to Modern Growth
By Raouf Boucekkine, David de la Croix, Dominique Peeters
   Presented by: Dominique Peeters, Université catholique de Louvain
 

Rural-urban Migration and Economic Growth in Developing Countries
By D. Sirin Saracoglu, Terry L. Roe
   Presented by: Durdane Saracoglu, Middle East Technical University
 

Land Reform
By Douglas Gollin
   Presented by: Douglas Gollin, WILLIAMS COLLEGE
 

Regional income gaps in the U.S.A. today -- what can geography and slavery explain?
By Nils-Petter Lagerloef
   Presented by: Nils-Petter Lagerloef, York University

Session 80: Asymmetric Information

Session Chair: Leonardo Bartolini,
Date: July 3, 2004
Time: 13:00 - 15:00
 

Testing Private Information Models with Asset Accumulation
By Orazio Attanasio , Nicola Pavoni
   Presented by: Orazio Attanasio, University College London
 

Enforcement and Firm Finance
By Stefan Krasa, Tridib Sharma and Anne Villamil
   Presented by: Anne Villamil, University of Illinois
 

Tax Riots
By Marco Bassetto and Christopher Phelan
   Presented by: Christopher Phelan, Federal Reserve Bank of Minneapolis
 

Why Emergency Lending Facilities Go Unused
By Leonardo Bartolini, Allan Drazen
   Presented by: Leonardo Bartolini,

Session 81: Labor Market Frictions

Session Chair: Pietro Garibaldi, Universit Bocconi
Date: July 3, 2004
Time: 13:00 - 15:00
 

On the Welfare Effect of Cyclical Policies under Incomplete Markets and Labor Market Frictions
By Toshihiko Mukoyama and Aysegul Sahin
   Presented by: Aysegul Sahin, Purdue University
 

A Model of Job and Worker Flows
By Nobuhiro Kiyotaki and Ricardo Lagos
   Presented by: Ricardo Lagos, Federal Reserve Bank of Minneapolis
 

Modeling a Jobless Recovery
By David Andolfatto and Glenn MacDonald
   Presented by: David Andolfatto,
 

Equilibrium EMployment in a Model of IMperfect Labour Market
By Pietro Garibaldi and Etienne Wasmer
   Presented by: Pietro Garibaldi, Universit Bocconi

Session 82: Economic Theory

Session Chair: Ronny Razin, New York University
Date: July 3, 2004
Time: 13:00 - 15:00
 

Unraveling of Dynamic Sorting
By Ettore Damiano, Hao Li, Wing Suen
   Presented by: Hao Li, University of Toronto
 

Individually Rational, Balanced-Budget Bayesian Mechanisms and the
By Grigory Kosenok and Sergei Severinov
   Presented by: Sergei Severinov, Duke University
 

Safety in Markets: An Impossibility Theorem for Dutch Books
By David Laibson and Leeat Yariv
   Presented by: Leeat Yariv, University of California, Los Angeles
 

Multidimentional Cheap Talk
By Gilat L:evy (LSE) and Ronny Razin (NYU)
   Presented by: Ronny Razin, New York University

Session 83: Money and Banking

Session Chair: Huberto Ennis, Federal Reserve Bank of Richmond
Date: July 3, 2004
Time: 13:00 - 15:00
 

Fiat Money and Public Goods Provision
By Yiting Li and Akihiko Matsui
   Presented by: Yiting Li, National Taiwan University
 

Leaning against the wind
By Pierre-Olivier Weill
   Presented by: Pierre-Olivier Weill, Stanford University
 

Money and Modern Bank Runs
By David R. Skeie
   Presented by: David Skeie, Princeton University
 

Bank Runs and Investment Decisions Revisited
By Huberto M. Ennis and Todd Keister
   Presented by: Huberto Ennis, Federal Reserve Bank of Richmond

Session 84: Empirical Analysis of Labor Markets

Session Chair: Costas Meghir, University College London
Date: July 3, 2004
Time: 15:30 - 17:30
 

Wage Distributions and Wage Dynamics in Europe and the US: Lessons from a Simple Job Search Model
By Gregory Jolivet, Fabien Postel-Vinay and Jean-Marc Robin
   Presented by: Fabien Postel-Vinay, Ecole Nationale de la Statistique
 

Estimating Models of On-the-Job Search Using Record Statistics
By Gadi Barlevy
   Presented by: Gadi Barlevy, Federal Reserve Bank of Chicago
 

Productivity Differences and Firm Size
By Rasmus Lentz and Dale T. Mortensen
   Presented by: Rasmus Lentz, Boston University
 

Wage risk and employment risk over the life-cycle
By Hamish Low, Costas Meghir and Luigi Pistaferri
   Presented by: Costas Meghir, University College London

Session 85: Cross country income differences, capital flows and TFP

Session Chair: Yona Rubinstein, TLV U
Date: July 3, 2004
Time: 15:30 - 17:30
 

Why doesn't capital flow from rich to poor countries? An empirical investigation
By Laura Alfaro, Sebnem Kalemli-Ozcan, Vadym Volosovych
   Presented by: Sebnem Kalemli-Ozcan, University of Houston
 

Monopoly rights and Cross-country TFP
By Berthold Herrendorf, Arilton Teixeira
   Presented by: Arilton Teixeira, IBMEC
 

Accounting for the Cross--country Differences in Income and Physical and Human Capital
By Berthold Herrendorf and Akos Valentinyi and Arilton Teixeira
   Presented by: Akos Valentinyi, University of Southampton
 

Which Countries Export FDI, and How Much?
By Assaf Razin, Yona Rubinstein and Efraim Sadka
   Presented by: Yona Rubinstein, TLV U

Session 86: Optimal Government Policy

Session Chair: Aleh Tsyvinski, UCLA
Date: July 3, 2004
Time: 15:30 - 17:30
 

Dynamic Optimal Taxation with Persistent Private Information
By Stefania Albanesi, Christopher Sleet
   Presented by: stefania albanesi, Duke University
 

commitment vs. flexibility
By Amador, Werning and Angeletos
   Presented by: Ivan Werning, MIT
 

Credible social insurance
By Christopher Sleet
   Presented by: Christopher Sleet, University of Iowa
 

Optimal Taxation with Endogenous Insurance Markets
By Golosov, M and Tsyvinski, A
   Presented by: Aleh Tsyvinski, UCLA

Session 87: Asset Pricing 3

Session Chair: Amir Yaron, The Wharton School
Date: July 3, 2004
Time: 15:30 - 17:30
 

Land of Addicts? An Empirical Investigation of Habit-Based Asset Pricing Models
By Xiaohong Chen and Sydney Ludvigson
   Presented by: Sydney Ludvigson, New York University
 

High-Order Consumption Moments and Asset Pricing
By Andrei Semenov
   Presented by: Andrei Semenov, York University
 

Equilibrium Commodity Prices with Irreversible Investment and Non-Linear Technology
By Jaime Cacassus, Pierre Collin-Dufresne, Bryan Routledge
   Presented by: Pierre Collin-Dufresne, UC Berkeley
 

Futures Prices in a Production Economy with Investment Constraints
By Leonid Kogan,Dmitry Livdan, and Amir Yaron
   Presented by: Amir Yaron, The Wharton School

Session 88: Social Security

Session Chair: Francisco Gomes, London Business School
Date: July 3, 2004
Time: 15:30 - 17:30
 

Analyzing an Aging Population
By Shinichi Nishiyama
   Presented by: Shinichi Nishiyama, Congressional Budget Office
 

Endogenous Social Security
By Elizabeth Caucutt, Thomas Cooley, Nezih Guner
   Presented by: Elizabeth Caucutt, University of Western Ontario
 

Ex Ante Optimality and Social Security
By Gottardi, Piero (University of Venice) - Kubler, Felix (Stanford University)
   Presented by: Piero Gottardi, Universita' di Venezia
 

Aggregate Implications of Defined Benefit and Defined Contribution Systems
By Francisco Gomes and Alexander Michaelides
   Presented by: Francisco Gomes, London Business School

Session 89: Business Cycles

Session Chair: Ben Eden, Vanderbilt university
Date: July 3, 2004
Time: 15:30 - 17:30
 

Trends and Fluctuations in the Household's Marginal Rate of Substitution Condition: Time Series Evidence from the OECD
By Lee E. Ohanian and Andrea Raffo
   Presented by: Andrea Raffo, UCLA
 

Trend Breaks, Long Run Restrictions, and the Contractionary Effects of Technology Shocks
By John Fernald
   Presented by: John Fernald, Federal Reserve Bank of Chicago
 

When Can Changes in Expectations Cause Business Cycle Fluctuations?
By Paul Beaudry and Franck Portier
   Presented by: Franck Portier, Université de Toulouse
 

Rigid Prices: Evidence from US scanner data
By Jeff Campbell and Ben Eden
   Presented by: Ben Eden, Vanderbilt university

Session 90: Employment Protection Policies

Session Chair: Gueorgui Kambourov, University of Toronto
Date: July 3, 2004
Time: 15:30 - 17:30
 

Against Labour Market Risk: Employment Protection or Unemployment Benefits?
By Tito Boeri, J. Ignacio Conde-Ruiz, Vincenzo Galasso
   Presented by: Vincenzo Galasso, IGIER - Universit Bocconi
 

Optimal severance pay in a matching model
By Giulio Fella
   Presented by: Giulio Fella, Queen Mary, University of London
 

Threshold effects and firm size: The case of firing costs
By Fabiano Schivardi and Roberto Torrini
   Presented by: Fabiano Schivardi, Bank of Italy
 

Trade Reforms and the Labor Market
By Gueorgui Kambourov
   Presented by: Gueorgui Kambourov, University of Toronto

Session 91: Game Theory

Session Chair: Garance Genicot, Georgetown University
Date: July 3, 2004
Time: 15:30 - 17:30
 

Coordination Failures and Asset Prices
By Christian Hellwig (UCLA), Arihit Mukherji (Minnesota) and Aleh Tsyvinski
   Presented by: Christian Hellwig, UCLA
 

Players with Fixed Resources in Elimination Tournaments
By Alexander Matros
   Presented by: Alexander Matros, University of PIttsburgh
 

Caller Number Five: Timing Games that Morph From One Form to Another
By Lones Smith and Andreas Park
   Presented by: Lones Smith, University of Michigan
 

An Experimental Test of Risk-Sharing Arrangements
By Gary Charness and Garance Genicot
   Presented by: Garance Genicot, Georgetown University

Session 92: Exchange rates

Session Chair: Juan Sole, International Monetary Fund
Date: July 3, 2004
Time: 15:30 - 17:30
 

Exchange-rate fluctuations and pass-through
By Giancarlo Corsetti, Luca Dedola, Sylvain Leduc
   Presented by: Luca Dedola,
 

Twin Deficit or Twin Divergence? Fiscal Policy, Real Exchange Rate, and the Current Account in the U.S.
By Soyoung Kim, Nouriel Roubini
   Presented by: Soyoung Kim, Korea University and University of Illinois at Urbana-Champaign
 

Exchange rate overshooting and the costs of floating
By Michele Cavallo, Kate Kisselev, Fabrizio Perri and Nouriel Roubini
   Presented by: Michele Cavallo, Federal Reserve Bank of San Francisco
 

Interest-rate Defenses of Currency Pegs
By Juan Sole
   Presented by: Juan Sole, International Monetary Fund

Session 93: Industry Dynamics

Session Chair: alessandro barbarino, the university of chicago
Date: July 3, 2004
Time: 15:30 - 17:30
 

The Effects of Market Structure on Industry Growth
By Christos Koulovatianos, Leonard J. Mirman
   Presented by: Christos Koulovatianos,
 

INDUSTRY DYNAMICS AND SECONDARY MARKETS: THEORY AND EVIDENCE FROM COMMERCIAL AVIATION
By Alessandro Gavazza
   Presented by: Alessandro Gavazza, NYU
 

On the Age and Size Distribution of Business Firms
By Erzo G.J. Luttmer
   Presented by: Erzo Luttmer, University of Minnesota
 

An Equilibrium Search Model of Industry Dynamics
By alessandro barbarino
   Presented by: alessandro barbarino, the university of chicago