Society for Economic Dynamics 2005 Meeting

Summary of All Sessions

#Date/TimeLocationTitlePapers
123 June
10:00-12:00
M201 Topics in International Finance4
223 June
10:00-12:00
F309 Wage Dynamics Over the Life Cycle4
323 June
10:00-12:00
M103 Gellner Monetary Theory 14
423 June
10:00-12:00
F509 Housing and Consumption3
523 June
10:00-12:00
M202 Political Economy4
623 June
10:00-12:00
Auditorium Property Rights4
723 June
10:00-12:00
F409 Labor Market Dynamics4
823 June
10:00-12:00
M102 Popper Structural VARs4
923 June
10:00-12:00
F609 Trade and Real Exchange Rate Fluctuations4
1023 June
13:15-15:15
M102 Popper Heterogeneity and Its Consequences4
1123 June
13:15-15:15
M201 Asset Pricing 14
1223 June
13:15-15:15
M202 Incomplete Markets, Contracts, and Institutions4
1323 June
13:15-15:15
Auditorium Current Account Dynamics4
1423 June
13:15-15:15
F509 Financial History4
1523 June
13:15-15:15
F309 Education and the Labor Market4
1623 June
13:15-15:15
M103 Gellner On Signalling and Information4
1723 June
13:15-15:15
F409 On the Effects of Monetary Policy4
1823 June
13:15-15:15
F609 Investment4
1923 June
15:45-17:45
Auditorium Cyclical Fluctuations in Labor Markets2
2023 June
15:45-17:45
M103 Gellner Optimal Policy4
2123 June
15:45-17:45
M202 Exchange Rates4
2223 June
15:45-17:45
F609 On the Determinants of Economic Development4
2323 June
15:45-17:45
F809 Urban Economics4
2423 June
15:45-17:45
M201 Mechanism Design4
2523 June
15:45-17:45
M102 Popper Consumption and Portfolio Choice Over the Life Cycle4
2623 June
15:45-17:45
F309 Firms and Aggregate Dynamics4
2723 June
15:45-17:45
F409 International Finance4
2823 June
15:45-17:45
F509 Growth and TFP4
2924 June
10:00-12:00
Auditorium Economic Growth: A Conversation Between Economics and History4
3024 June
10:00-12:00
M102 Popper Housing and Business Cycles4
3124 June
10:00-12:00
F409 Culture and Economics4
3224 June
10:00-12:00
M202 Games of Timing4
3324 June
10:00-12:00
F509 Empirical IO 2: Firm Dynamics4
3424 June
10:00-12:00
F609 Households and Labor Supply4
3524 June
10:00-12:00
M201 Financial Frictions and Liquidity4
3624 June
10:00-12:00
F309 Emerging Market Crises4
3724 June
10:00-12:00
M103 Gellner Monetary Theory 24
3824 June
13:15-15:15
F309 Inequality, Risk and Welfare4
3924 June
13:15-15:15
M102 Popper Dynamic Public Economics4
4024 June
13:15-15:15
M201 Information and Macroeconomics4
4124 June
13:15-15:15
F509 The Economics of Marriage4
4224 June
13:15-15:15
F409 Computational Methods4
4324 June
13:15-24:15
M202 Unemployment and Job Search4
4424 June
13:15-15:15
F809 Accounting for International Price Differentials4
4524 June
13:15-15:15
F609 Dynamics and Theory4
4624 June
13:15-15:15
M103 Gellner Monetary Theory and Policy4
4724 June
13:15-15:15
Auditorium Driving Forces of Macroeconomic Trends4
4824 June
15:45-17:45
Auditorium Wealth Accumulation Over the Life Cycle3
4924 June
15:45-17:45
F409 Financial Crises4
5024 June
15:45-17:45
F609 Search, Market Segmentation, and Wages4
5124 June
15:45-17:45
M102 Popper Microfoundations of Wage and Price Rigidity4
5224 June
15:45-17:45
M201 Game Theory4
5324 June
15:45-17:45
M202 Banking4
5424 June
15:45-17:45
M103 Gellner Job Search and Labor Contracts4
5524 June
15:45-17:45
F809 Monetary Policy in Open Economies4
5624 June
15:45-17:45
F309 Trade and Business Cycles4
5724 June
15:45-17:45
F509 Firms, Investment, and TFP4
5825 June
10:00-12:00
F309 Growth Perspectives4
5925 June
10:00-12:00
F409 Topics in International Economics4
6025 June
10:00-12:00
F509 Dynamic Models of Legislative Bargaining4
6125 June
10:00-12:00
Auditorium Empirical Analysis of Reallocation Frictions4
6225 June
10:00-12:00
M202 Expectations: Empirical Analysis4
6325 June
10:00-12:00
M103 Gellner Optimal Contracting Under Moral Hazard4
6425 June
10:00-12:00
F609 Social Security4
6525 June
10:00-12:00
M201 Finance and Monetary Policy4
6625 June
10:00-12:00
M102 Popper Business Cycles and Employment Dynamics4
6725 June
13:15-15:15
F409 Theoretical and Empirical Implications of Incomplete Markets Models4
6825 June
13:15-15:15
F309 International Trade, FDI, and Offshoring4
6925 June
13:15-15:15
M201 Empirical IO 1: Spatial Allocation of Firms4
7025 June
13:15-15:15
M102 Popper Information and Asset Pricing4
7125 June
13:15-15:15
M103 Gellner Matching and Dynamic Contracts4
7225 June
13:15-15:15
F809 Empirical Studies of Consumption Behavior4
7325 June
13:15-15:15
F609 Growth4
7425 June
13:15-15:15
Auditorium Optimal Fiscal and Monetary Policy4
7525 June
13:15-15:15
F509 Impulse and Propagation Mechanisms4
7625 June
15:45-17:45
F409 Perspectives on Sovereign Debt and Default4
7725 June
15:45-17:45
F309 Empirical Research in Labor Economics4
7825 June
15:45-17:45
M202 Monetary Economies with Segmented Markets4
7925 June
15:45-17:45
M201 Matching: Theory and Empirics4
8025 June
15:45-17:45
M102 Popper Computational Dynamic General Equilibrium4
8125 June
15:45-17:45
M103 Gellner Asset Pricing 24
8225 June
15:45-17:45
F809 Life Cycle Decisions and Altruism4
8325 June
15:45-17:45
F609 Trade, Institutions, and Growth4
8425 June
15:45-17:45
F509 Time Consistency of Monetary and Fiscal Policy4
8525 June
15:45-17:45
Auditorium On the Determinants of Business Cycles4
 

85 sessions, 336 papers


 

Society for Economic Dynamics 2005 Meeting

Complete List of All Sessions


Session 1: Topics in International Finance

Date: June 23, 2005
Time: 10:00 - 12:00
Location: M201
 

Financial Crises and Total Factor Productivity: The Mexican Case
By Felipe Meza, Erwan Quintin
   Presented by: Felipe Meza, Universidad Carlos III
 

Globalization and Emerging Markets: With or Without Crash?
By Philippe Martin and Helene Rey
   Presented by: Philippe Martin, University of Paris I
 

International Asset Portfolios: A Dynamic General Equilibrium Perspective
By Robert Kollmann
   Presented by: Robert Kollmann, University of Paris XII and CEPR
 

Why do financial systems differ? History matters.
By Erwan Quintin and Cyril Monnet
   Presented by: Cyril Monnet, European Central Bank

Session 2: Wage Dynamics Over the Life Cycle

Date: June 23, 2005
Time: 10:00 - 12:00
Location: F309
 

Understanding Consumption Inequality and Income Inequality: A Human Capital Approach
By Fatih Guvenen and Burhanettin Kuruscu
   Presented by: Burhanettin Kuruscu, University of Texas at Austin
 

Job Mobility and Wage Dynamics
By Luigi Pistaferri
   Presented by: Luigi Pistaferri, Stanford University
 

The Returns to Schooling and Ability During the Early Career: Evidence on Employer Learning and Post-School Investment
By Fabian Lange
   Presented by: Fabian Lange, Yale University
 

Modeling Earnings Dynamics
By Joseph G. Altonji, Anthony Smith, and Ivan Vidangos
   Presented by: Ivan Vidangos, Yale University

Session 3: Monetary Theory 1

Date: June 23, 2005
Time: 10:00 - 12:00
Location: M103 Gellner
 

Search, Money, and Inflation under Private Information
By Huberto M. Ennis
   Presented by: Huberto Ennis, Federal Reserve Bank of Richmond
 

Bargaining in Monetary Economies
By Guillaume Rocheteau and Christopher Waller
   Presented by: Christopher Waller, University of Notre Dame
 

Asset Prices and Liquidity in an Exchange Economy
By Ricardo Lagos
   Presented by: Ricardo Lagos, Federal Reserve Bank of Minneapolis and New York University
 

Search Frictions and Asset Price Volatility
By Enchuan Shao and B. Ravikumar
   Presented by: B. Ravikumar, University of Iowa

Session 4: Housing and Consumption

Date: June 23, 2005
Time: 10:00 - 12:00
Location: F509
 

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
 

Consumption Along the Life Cycle: How Different is Housing?
By Fang Yang
   Presented by: Fang Yang, University of Minnesota
 

Housing, House Prices, and the Equity Premium Revisited
By Morris Davis, and Robert F. Martin
   Presented by: Robert Martin, Federal Reserve Board

Session 5: Political Economy

Date: June 23, 2005
Time: 10:00 - 12:00
Location: M202
 

Playing for Your Own Audience: Extremism in Two-Party Elections
By Gabor Virag
   Presented by: Gabor Virag, University of Rochester
 

Group Formation and Voter Participation
By Helios Herrera and Cesar Martinelli
   Presented by: Helios Herrera, Instituto Tecnologico Autonomo de Mexico
 

Commitment Problems and the Political Economy of States and Mafias
By Ethan Bueno de Mesquita and Catherine Hafer
   Presented by: Catherine Hafer, New York University
 

Political Careers or Career Politicians?
By Andrea Mattozzi and Antonio Merlo
   Presented by: Antonio Merlo, University of Pennsylvania

Session 6: Property Rights

Date: June 23, 2005
Time: 10:00 - 12:00
Location: Auditorium
 

The Product Cycle and Inequality
By Boyan Jovanovic
   Presented by: Boyan Jovanovic, New York University
 

Innovation and Imitation in a High Information Economy
By Thomas Cooley and Mehmet Yorukoglu
   Presented by: Thomas Cooley, New York University
 

Oligarchic Property Rights and Investment
By Serguey Braguinsky and Roger Myerson
   Presented by: Roger Myerson, University of Chicago
 

Lobbying and Technology Diffusion
By Diego Comin and Bart Hobijn
   Presented by: Diego Comin, New York University

Session 7: Labor Market Dynamics

Date: June 23, 2005
Time: 10:00 - 12:00
Location: F409
 

Forward-Looking Hiring Behavior and the Dynamics of the Aggregate Labor Market
By Eran Yashiv
   Presented by: Eran Yashiv, London School of Economics
 

Labor Turnover Costs and the Cyclical Behavior of Vacancies and Unemployment
By Silva, Jose I. and Manuel Toledo
   Presented by: Manuel Toledo, University of Rochester
 

On-the-job Search and the Cyclical Dynamics of the Labor Market
By Michael U. Krause and Thomas A. Lubik
   Presented by: Michael Krause, Tilburg University
 

Returns to Government Sponsored Training
By Gueorgui Kambourov, Iourii Manovskii, and Miana Plesca
   Presented by: Gueorgui Kambourov, University of Toronto

Session 8: Structural VARs

Date: June 23, 2005
Time: 10:00 - 12:00
Location: M102 Popper
 

Inefficient Shocks
By Giorgio Primiceri and Andrea Tambalotti
   Presented by: Giorgio Primiceri, Northwestern University
 

Vector Autoregressions and Reduced Form Representations of DSGE Models
By Federico Ravenna
   Presented by: Federico Ravenna, University of California Santa Cruz
 

Are Structural VARs Useful Guides for Developing Business Cycle Theories?
By V. V. Chari, Patrick Kehoe and Ellen McGrattan
   Presented by: V. Chari, Federal Reserve Bank of Minneapolis
 

Assessing the Usefulness of Structural Vector Autoregressions
By Lawrence Christiano, Martin Eichenbaum, Robert Vigfusson
   Presented by: Robert Vigfusson, Federal Reserve Board

Session 9: Trade and Real Exchange Rate Fluctuations

Date: June 23, 2005
Time: 10:00 - 12:00
Location: F609
 

Monetary and Fiscal Policy in a Monetary Union
By Bernardino Adão, Nuno Alves, Jose B. Brito, and Isabel Correia
   Presented by: Jose Brito, Banco de Portugal
 

Real Exchange Rate Fluctuations and Endogenous Tradability
By Kanda Naknoi
   Presented by: Kanda Naknoi, Purdue University
 

Heterogeneous Plants and Trade: Lessons from the Canada-US FTA
By Michael Rolleigh
   Presented by: Michael Rolleigh, Williams College
 

Dual Inflation and the Real Exchange Rate in New Open Economy Macroeconomics
By Balazs Vilagi
   Presented by: Balazs Vilagi, Central Bank of Hungary

Session 10: Heterogeneity and Its Consequences

Date: June 23, 2005
Time: 13:15 - 15:15
Location: M102 Popper
 

Insurance and Opportunities: The Welfare Implications of Rising Wage Dispersion
By Jonathan Heathcote, Kjetil Storesletten, Gianluca Violante
   Presented by: Giovanni Luca Violante, New York University
 

Firm Volatility and Wage Inequality
By Fatih Guvenen and Thomas Philippon
   Presented by: thomas philippon, nyu stern
 

Accounting for the Changing Life-Cycle Profile of Earnings
By Gueorgui Kambourov and Iourii Manovskii
   Presented by: Iourii Manovskii, University of Pennsylvania
 

Nominal Contracts, Coordination and Risk Sharing
By Matthias Doepke, Martin Schneider
   Presented by: Martin Schneider, New York University

Session 11: Asset Pricing 1

Date: June 23, 2005
Time: 13:15 - 15:15
Location: M201
 

Operating Leverage, Stock Market Cyclicality, and the Cross-Section of Returns
By Francois Gourio
   Presented by: Francois Gourio, University of Chicago
 

Euler Equation Errors
By Martin Lettau and Sydney C. Ludvigson
   Presented by: Sydney Ludvigson, New York University
 

The Equity Premium Implied by Production
By Urban J. Jermann
   Presented by: Urban Jermann, University of Pennsylvania
 

The Returns on Human Wealth: Good News on Wall Street is Bad News on Main Street
By Hanno Lustig and Stijn Van Nieuwerburgh
   Presented by: Hanno Lustig, University of California Los Angeles

Session 12: Incomplete Markets, Contracts, and Institutions

Date: June 23, 2005
Time: 13:15 - 15:15
Location: M202
 

Informal Insurance in Social Networks
By Francis Bloch, Garance Genicot, Debraj Ray
   Presented by: Garance Genicot, Georgetown University
 

Unemployment Insurance under Moral Hazard and Limited Commitment:Public versus Private Provision
By Jonathan P Thomas and Tim Worall
   Presented by: Tim Worrall, Keele University
 

Competition, Innovation and Growth with Limited Enforcement
By Ramon Marimon and Vincenzo Quadrini
   Presented by: Ramon Marimon, Universitat Pompeu Fabra
 

Firm Entry and Finance: Distinguishing Information Regimes
By Alexander Karaivanov and Robert Townsend
   Presented by: Alexander Karaivanov, Simon Fraser University

Session 13: Current Account Dynamics

Date: June 23, 2005
Time: 13:15 - 15:15
Location: Auditorium
 

Current Account Fact and Fiction
By David Backus, Gian Luca Clementi, Frederic Lambert
   Presented by: David Backus, New York University, Stern School of Business
 

Sovereign Default and Debt Renegotiation
By Vivian Z. Yue
   Presented by: Vivian Zhanwei Yue, University of Pennsylvania
 

International Financial Adjustment
By Pierre Olivier Gourinchas and Helene Rey
   Presented by: Helene Rey, Princeton University
 

Sudden Stops and Productivity Drops
By Timothy J. Kehoe and Kim J. Ruhl
   Presented by: Timothy Kehoe, University of Minnesota

Session 14: Financial History

Date: June 23, 2005
Time: 13:15 - 15:15
Location: F509
 

Regional Banks for Micro-Credit Institutions: Centrals in
By Timothy W. Guinnane
   Presented by: Timothy Guinnane, Yale University
 

Were U.S. State Banknotes Priced as Securities?
By Warren E. Weber
   Presented by: Warren Weber, Federal Reserve Bank of Minneapolis
 

Commodities Prices and Monetary Policy in 18th c. France
By Francois R. Velde
   Presented by: Francois Velde, Federal Reserve Bank of Chicago
 

The Big Problem of Large Bills: The Bank of Amsterdam and the Origins of Central Banking
By Stephen Quinn and William Roberds
   Presented by: William Roberds, Federal Reserve Bank of Atlanta

Session 15: Education and the Labor Market

Date: June 23, 2005
Time: 13:15 - 15:15
Location: F309
 

Accounting for General Equilibrium Effects in Program Evalution
By Miana Plesca
   Presented by: Miana Plesca, University of Guelph
 

Search Equilibrium, Production Parameters and Social Returns to Education: Theory and Estimation
By Christian Holzner and Andrey Launov
   Presented by: Christian Holzner, IFOInstitute for Economic Research
 

The Complementarity and Self Productivity of Human Capital Investments in a SDGE Economy with Altruism and Lifetime Liquidity Constraints
By Flavio Cunha
   Presented by: Flavio Cunha, University of Chicago
 

Education Decisions, Equilibrium Policies and Wages Dispersion
By Giovanni Gallipoli, Costas Meghir and Gianluca Violante
   Presented by: Giovanni Gallipoli, University College London

Session 16: On Signalling and Information

Date: June 23, 2005
Time: 13:15 - 15:15
Location: M103 Gellner
 

Optimal Stalling While Bargaining
By John Thanassoulis
   Presented by: John Thanassoulis, Oxford University
 

Coordination Failure in Repeated Games with Almost-Public Monitoring
By George J Mailath and Stephen Morris
   Presented by: George Mailath, University of Pennsylvania
 

A Theory of Costly Signaling
By Kim-Sau Chung and Peter Eso
   Presented by: Peter Eso, Northwestern Unviersity
 

The Demand for Information: More Heat than Light
By Jussi Keppo, Giuseppe Moscarini, Lones Smith
   Presented by: Giuseppe Moscarini, Yale University

Session 17: On the Effects of Monetary Policy

Date: June 23, 2005
Time: 13:15 - 15:15
Location: F409
 

Monetary Policy, Taxes, and the Business Cycle
By William T. Gavin, Finn E. Kydland, and Michael R. Pakko
   Presented by: William Gavin, Federal Reserve Bank of St. Louis
 

Monetary Shocks in a Model with Loss of Skills
By Julen Esteban-Pretel, Elisa Faraglia
   Presented by: Julen Esteban-Pretel, University of Tokyo
 

The Demand for Currency at Low Interest Rates
By Francesco Lippi and Alessandro Secchi
   Presented by: Francesco Lippi, Bank of Italy
 

Menu Costs at Work: Restaurant Prices and the Introduction of the Euro
By Bart Hobijn, Federico Ravenna, Andrea Tambalotti
   Presented by: Andrea Tambalotti, Federal Reserve Bank of New York

Session 18: Investment

Date: June 23, 2005
Time: 13:15 - 15:15
Location: F609
 

(Relative Price) Lessons from Taking an AK Model to the Data
By Joao Ejarque and Ana Balcao Reis
   Presented by: Joao Ejarque, University of Essex
 

Modeling Inventories Over the Business Cycle
By Aubhik Khan and Julia K. Thomas
   Presented by: Aubhik Khan, Federal Reserve Bank of Philadelphia
 

Innovation, Machine Replacement and Productivity
By Omar Licandro, Reyes Maroto and Luis A. Puch
   Presented by: Omar Licandro, European University Institute
 

GMM for Discrete Choice Models: A Capital Accumulation Application
By Russell Cooper, John Haltiwanger and Jon Willis
   Presented by: Jonathan Willis, Federal Reserve Bank of Kansas City

Session 19: Cyclical Fluctuations in Labor Markets

Date: June 23, 2005
Time: 15:45 - 17:45
Location: Auditorium
 

Amplification of Labor Market Fluctuations: Why Vacancies Don't Like to Hire the Unemployed?
By Eva Nagypal
   Presented by: Eva Nagypal, Northwestern University
 

More on Unemployment and Vacancy Fluctuations
By Dale T. Mortensen
   Presented by: Dale Mortensen, Northwestern University

Session 20: Optimal Policy

Date: June 23, 2005
Time: 15:45 - 17:45
Location: M103 Gellner
 

Optimal Taxation with Limited Memory
By Stefania Albanesi and Christopher Sleet
   Presented by: Christopher Sleet, University of Iowa
 

Dynamic Optimal Taxation of Productive Assets
By Stefania Albanesi, Christopher Sleet
   Presented by: Stefania Albanesi, Duke University
 

Optimal Taxation with Persistent Shocks
By Marek Kapicka
   Presented by: Marek Kapicka, University of California Santa Barbara
 

Copyrights, Price Discrimination and Hidden Trading: Lessons from a Ricardian Theory of Innovation
By V. V. Chari, Mike Golosov, Aleh Tsyvinski
   Presented by: Mike Golosov, Massachusetts Institute of Technology

Session 21: Exchange Rates

Date: June 23, 2005
Time: 15:45 - 17:45
Location: M202
 

International Asset Markets and Real Exchange Rate Volatility
By Martin Bodenstein
   Presented by: Martin Bodenstein, Northwestern University
 

Exchange Rate Regimes
By Bernardino Adao, Isabel Correia and Pedro Teles
   Presented by: Pedro Teles, Federal Reserve Bank of Chicago
 

Pass-Through and Exchange-Rate Fluctuations in a DSGE Model of Price
By Giancarlo Corsetti, Luca Dedola and Sylvain Leduc
   Presented by: Sylvain Leduc, Federal Reserve Board
 

Monetary Policy in the Open Economy Revisited: The Case for Exchange-Rate Flexibility Restored
By Duarte, Margarida and Obstfeld, Maurice
   Presented by: Margarida Duarte, Federal Reserve Bank of Richmond

Session 22: On the Determinants of Economic Development

Date: June 23, 2005
Time: 15:45 - 17:45
Location: F609
 

Slavery, Institutional Development and Long-Run Growth in Africa
By Nathan Nunn
   Presented by: Nathan Nunn, University of Toronto
 

Malaria
By Douglas Gollin, Christian Zimmerman
   Presented by: Douglas Gollin, Williams College
 

Sons of Something: Taxes, Lawsuits and Local Political Control in Sixteenth Century Castile
By Mauricio Drelichman
   Presented by: Mauricio Drelichman, University of British Columbia
 

Evaluating Explanations for Stagnation
By Elizabeth Caucutt and Krishna Kumar
   Presented by: Elizabeth Caucutt, University of Western Ontario

Session 23: Urban Economics

Date: June 23, 2005
Time: 15:45 - 17:45
Location: F809
 

Job Search in Thick Markets: Evidence from Italy
By Sabrina Di Addario
   Presented by: Sabrina Di Addario, Bank of Italy
 

Outsourcing, Inequality, and Cities
By Wen-Chi Liao
   Presented by: Wen-Chi Liao, University of Minnesota
 

Why Are Private Schools Small? School Location, Returns to Scale, and Size
By Margaret Ledyard
   Presented by: Margaret Ledyard, University of Texas Austin
 

"Why are Some Cities So Crowded?"
By Jordan Rappaport
   Presented by: Jordan Rappaport, Federal Reserve Bank of Kansas City

Session 24: Mechanism Design

Date: June 23, 2005
Time: 15:45 - 17:45
Location: M201
 

Capacity Choice Counters the Coase Conjecture
By R. Preston McAfee and Thomas Wiseman
   Presented by: Tom Wiseman, University of Texas Austin
 

Durable-Goods Monopoly with Varying Cohorts
By Simon Board
   Presented by: Simon Board, University of Toronto
 

On Ascending Vickrey Auctions for Heterogeneous Objects
By Sven de Vries, James Schummer, Rakesh Vohra
   Presented by: James Schummer, Northwestern University
 

Optimal Auction Design For Multiple Objects with Externalities
By Nicolas Figueroa and Vasiliki Skreta
   Presented by: Vasiliki Skreta, University of California Los Angeles

Session 25: Consumption and Portfolio Choice Over the Life Cycle

Date: June 23, 2005
Time: 15:45 - 17:45
Location: M102 Popper
 

Income taxation with uninsurable endowment and entrepreneurial investment risks
By Sagiri Kitao
   Presented by: Sagiri Kitao, NYU
 

Consumption, Expenditure, and Home Production over the Lifecycle
By Mark Aguiar, Erik Hurst
   Presented by: Mark Aguiar, Federal Reserve Bank of Boston
 

Health and Heterogeneity
By Josep Pijoan-Mas and Victor Rios-Rull
   Presented by: Josep Pijoan-Mas, Centro de Estudios Monetarios y Financieros
 

Consumption and Portfolio Choice with Costly Adjustment for Durables
By Nancy L. Stokey
   Presented by: Nancy Stokey, University of Chicago

Session 26: Firms and Aggregate Dynamics

Date: June 23, 2005
Time: 15:45 - 17:45
Location: F309
 

The Value of Information in Credit Markets
By Jose Wynne
   Presented by: Jose Wynne, Duke University
 

Financial Development and Macroeconomic Stability
By Urban Jermann and Vincenzo Quadrini
   Presented by: Vincenzo Quadrini, University of Southern California
 

Business Cycles and Firm Dynamics
By Florin Bilbiie, Fabio Ghironi, Marc Melitz
   Presented by: Fabio Ghironi, Boston College
 

Firms and Aggregate Dynamics
By Francesco Franco and Thomas Philippon
   Presented by: Francesco Franco, Universidade Nova de Lisboa

Session 27: International Finance

Date: June 23, 2005
Time: 15:45 - 17:45
Location: F409
 

Financial Integration and the Wealth Effect of Exchange Rate Fluctuations.
By Cedric Tille
   Presented by: Cedric Tille, Federal Reserve Bank of New York
 

International Lending, Capital Controls and Wealth Inequality
By Geoffrey Dunbar
   Presented by: Geoffrey Dunbar, Queen's University
 

Risks For The Long Run And The Real Exchange Rate
By Riccardo Colacito and Mariano Croce
   Presented by: Riccardo Colacito, New York University
 

Monetary Policy in an Equilibrium Portfolio Balance Model
By Michael Kumhof and Stijn van Nieuwerburgh
   Presented by: Michael Kumhof, International Monetary Fund

Session 28: Growth and TFP

Date: June 23, 2005
Time: 15:45 - 17:45
Location: F509
 

A Tale of Two States
By Amartya Lahiri, Kei-Mu Yi
   Presented by: Amartya Lahiri, Federal Reserve Bank of New York
 

A Theory of Modern Transition Applied to Thailand
By Hyeok Jeong and Yong Kim
   Presented by: Hyeok Jeong, University of Southern California
 

Accounting for the Secular "Decline" of U.S. Manufacturing
By Milton Marquis and Bharat Trehan
   Presented by: Bharat Trehan, Federal Reserve Bank of San Francisco
 

Sustainable Miracles
By Benjamin Bridgman, Victor Gomes, and Arilton Teixeira
   Presented by: Benjamin Bridgman, Bureau of Economic Analysis

Session 29: Economic Growth: A Conversation Between Economics and History

Date: June 24, 2005
Time: 10:00 - 12:00
Location: Auditorium
 

The Surprising Dynamism of the Malthusian Economy: England, 1200-1800
By Gregory Clark
   Presented by: Gregory Clark, University of California Davis
 

The Great Synergy: The European Enlightenment as a Factor in Modern Economic Growth.
By Joel Mokyr
   Presented by: Joel Mokyr, Northwestern University
 

Land Inequality and the Origin of Divergence and Overtaking in the Growth Process: Theory and Evidence
By Oded Galor, Omer Moav, Dietrich Vollrath
   Presented by: Omer Moav, Hebrew University of Jerusalem
 

Reflections on Economic Growth
By Robert Lucas
   Presented by: Robert Lucas, University of Chicago

Session 30: Housing and Business Cycles

Date: June 24, 2005
Time: 10:00 - 12:00
Location: M102 Popper
 

Heterogeneity within Communities: A Stochastic Model with Tenure Choice
By Francois Ortalo-Magne and Sven Rady
   Presented by: Francois Ortalo-Magne, University of Wisconsin Madison
 

The Role of Collateralized Household Debt in Macroeconomic Stabilization
By Jeffrey C. Campbell and Zvi Hercowitz
   Presented by: Zvi Hercowitz, Tel Aviv University
 

Consumption Commitments: Neoclassical Foundations for Habit Formation
By Raj Chetty and Adam Szeidl
   Presented by: Adam Szeidl, University of California Berkeley
 

Private Debt and Idiosyncratic Volatility: A Business Cycle Analysis
By Matteo Iacoviello
   Presented by: Matteo Iacoviello, Boston College

Session 31: Culture and Economics

Date: June 24, 2005
Time: 10:00 - 12:00
Location: F409
 

The Local Dynamics of Culture
By Alberto Bisin and Onur Ozgur
   Presented by: Alberto Bisin, New York University
 

Fertility and Female Employment: a Different View of the Last 50 Years
By Sebastien Buttet, Alice Schoonbroodt
   Presented by: Alice Schoonbroodt, University of Minnesota
 

Cultural Biases in Economic Exchange
By Luigi Guiso, Paola Sapienza, Luigi Zingales
   Presented by: Luigi Guiso, University of Chicago
 

Living Arrangements in Western Europe: Does Cultural Origin Matter?
By Paola Giuliano
   Presented by: Paola Giuliano, International Monetary Fund

Session 32: Games of Timing

Date: June 24, 2005
Time: 10:00 - 12:00
Location: M202
 

Experimentation and Observational Learning in a Market with Exit
By Pauli Murto and Juuso Valimaki
   Presented by: Pauli Murto, Helsinki School of Economics
 

The Timing of Acquisitions
By Robin Mason and Helen Weeds
   Presented by: Robin Mason, University of Southampton
 

Preemption Games with Private Information
By Hugo Hopenhayn and Francesco Squintani
   Presented by: Francesco Squintani, University College London
 

Endogenous Herding and The Gold Rush: Timing Models with Both Explosive and Timed Entry
By Andreas Park and Lones Smith
   Presented by: Andreas Park, University of Toronto

Session 33: Empirical IO 2: Firm Dynamics

Date: June 24, 2005
Time: 10:00 - 12:00
Location: F509
 

Prices, Production, and Inventories Over the Automotive Model Year
By Adam Copeland, Wendy Dunn, and George Hall
   Presented by: George Hall, Yale University
 

Technology Adoption, Learning by Doing, and Productivity: A Study from Steel Refining Furnaces
By Tsuyoshi Nakamura and Hiroshi Ohashi
   Presented by: Hiroshi Ohashi, University of Tokyo
 

Modeling Firm Dynamics to Identify the Cost of Financing Constraints in Ghanaian Manufacturing
By Matthias Schundeln
   Presented by: Matthias Schuendeln, Harvard University
 

Measuring and Mismeasuring Industry Productivity Growth Using Plant-Level Data
By Amil Petrin, James Levinsohn
   Presented by: Amil Petrin, University of Chicago

Session 34: Households and Labor Supply

Date: June 24, 2005
Time: 10:00 - 12:00
Location: F609
 

Consumption Inequality and Intra-Household Allocations
By Jeremy Lise and Shannon Seitz
   Presented by: Jeremy Lise, Queen's University
 

Job Assignments, Careers and the Gender Earnings Gap
By Stefania Albanesi, Claudia Olivetti
   Presented by: Claudia Olivetti, Boston University
 

Labor Supply and the Changing Household
By James Kahn
   Presented by: James Kahn, Federal Reserve Bank of New York
 

Keeping Up with the Joneses: Evidence from Micro Data
By Enrichetta Ravina
   Presented by: Enrichetta Ravina, Northwestern University

Session 35: Financial Frictions and Liquidity

Date: June 24, 2005
Time: 10:00 - 12:00
Location: M201
 

A Model of Dynamic Liquidity Contracts
By Onur Ozgur
   Presented by: Onur Ozgur, New York University
 

The Magnitude and Cyclical Behavior of Financial Market Frictions
By Andrew T. Levin, Fabio M. Natalucci, Egon Zakrajsek
   Presented by: Egon Zakrajsek, Federal Reserve Economists
 

The Design of Monetary and Fiscal Policy: A Global Perspective
By Jess Benhabib and Stefano Eusepi
   Presented by: Jess Benhabib, New York University
 

Financing Shortfalls and the Value of Aggregate Liquidity
By Andrea Eisfeldt and Adriano Rampini
   Presented by: Andrea Eisfeldt, Northwestern University

Session 36: Emerging Market Crises

Date: June 24, 2005
Time: 10:00 - 12:00
Location: F309
 

Aggregate Investment Expenditures on Traded and Nontraded Goods
By Rudolfs Bems
   Presented by: Rudolfs Bems, Stockholm School of Economics
 

Do Miracles Lead to Crises?: An Informational Frictions Explanation to Emerging Market Financial Crises
By Emine Boz
   Presented by: Emine Boz, University of Maryland
 

Optimal Monetary and Exchange Rate Policies in Crisis-Prone Small Open Economies
By Joydeep Bhattacharya and Rajesh Singh
   Presented by: Rajesh Singh, Iowa State University
 

Government Finance in the Wake of Currency Crises
By Craig Burnside, Martin Eichenbaum, Sergio Rebelo
   Presented by: A. Craig Burnside, Duke University

Session 37: Monetary Theory 2

Date: June 24, 2005
Time: 10:00 - 12:00
Location: M103 Gellner
 

Time Consistent Monetary Policy with Endogenous Price Rigidity
By Henry Siu
   Presented by: Henry Siu, University of British Columbia
 

Inflation, Prices, and Information in Competitive Search
By Miquel Faig and Belen Jerez
   Presented by: Belen Jerez, Universidad Carlos III de Madrid
 

Mechanism Design and Payments
By Thorsten Koeppl Cyril Monnet Ted Temzelides
   Presented by: Ted Temzelides, University of Pittsburgh
 

On the Coexistence of Money and Bonds
By David Andolfatto
   Presented by: David Andolfatto,

Session 38: Inequality, Risk and Welfare

Date: June 24, 2005
Time: 13:15 - 15:15
Location: F309
 

Private and Public Risk Sharing in Economies with Limited Enforcement
By Dirk Krueger, Fabrizio Perri
   Presented by: Dirk Krueger, Frankfurt University
 

Trade Policy, Income Risk and Welfare
By Tom Krebs, Pravin Krishna, William Maloney
   Presented by: Pravin Krishna, Brown University
 

Aggregate Shocks and the Volatility of House Prices
By J.V.Rios-Rull and V. Sanchez-Marcos
   Presented by: Virginia Sanchez-Marcos, Universidad de Cantabria
 

A Tractable Framework for Understanding Dispersion in Labor Supply and Consumption
By Heathcote, Storesletten and Violante
   Presented by: Kjetil Storesletten, Stockholm University

Session 39: Dynamic Public Economics

Date: June 24, 2005
Time: 13:15 - 15:15
Location: M102 Popper
 

A Theory of Capital Adequacy Requirements of Banks
By M. Golosov and A. Tsyvinski
   Presented by: Aleh Tsyvinski, University of California Los Angeles
 

Income Redistribution and Disability Insurance
By Hugo Hopenhayn and Juan Carlos Hatchondo
   Presented by: Hugo Hopenhayn, University of California, Los Angeles
 

Markets as Beneficial Constraints on the Government
By Alberto Bisin and Adriano Rampini
   Presented by: Adriano Rampini, Northwestern University
 

Inequality, Social Discounting and Estate Taxation
By Emmanuel Farhi and Ivan Werning
   Presented by: Emmanuel Farhi, Massachusetts Institute of Technology

Session 40: Information and Macroeconomics

Date: June 24, 2005
Time: 13:15 - 15:15
Location: M201
 

Information Immobility and the Home Bias Puzzle
By Stijn Van Nieuwerburgh and Laura Veldkamp
   Presented by: Laura Veldkamp, New York University
 

Inattentive Producers
By Ricardo Reis
   Presented by: Ricardo Reis, Princeton University
 

Optimal Sticky Prices under Rational Inattention
By Bartosz Mackowiak and Mirko Wiederholt
   Presented by: Mirko Wiederholt, Humboldt University Berlin
 

Monetary Policy and Consumer Expectations
By Guido Lorenzoni
   Presented by: Guido Lorenzoni, Massachusetts Institute of Technology

Session 41: The Economics of Marriage

Date: June 24, 2005
Time: 13:15 - 15:15
Location: F509
 

The Value of Sons in Premodern Economies: A View from the Marriage Market
By Maristella Botticini and Aloysius Siow
   Presented by: Maristella Botticini, Boston University and Universita di Torino
 

The Mystery of Monogamy
By Eric D. Gould, Omer Moav, and Avi Simhon
   Presented by: Avi Simhon, The Hebrew University of Jerusalem
 

Spousal Matching, Marriage Contracts and Divorce: A Collective Household Approach
By Pierre-Andre Chiappori, Murat Iyigun, Yoram Weiss
   Presented by: Murat Iyigun, University of Colorado
 

What Makes You Click? An Empirical Analysis of Online Dating
By Guenter Hitsch, Ali Hortacsu, Dan Ariely
   Presented by: Ali Hortacsu, University of Chicago

Session 42: Computational Methods

Date: June 24, 2005
Time: 13:15 - 15:15
Location: F409
 

On the Recursive Saddle Point Method
By Ramon Marimon, Matthias Messner and Nicola Pavoni
   Presented by: Matthias Messner, Bocconi University
 

Asset Trading Volume in a Production Economy
By Emilio Espino and Thomas Hintermaier
   Presented by: Emilio Espino, Institute for Advanced Studies
 

Bayesian Estimation of Dynamic Discrete Choice Models
By Susumu Imai, Neelam Jain, Andrew Ching
   Presented by: Neelam Jain, Northern Illinois University
 

Solving Dynamic Stochastic Optimization Problems Using the Method of Endogenous Gridpoints
By Christopher D. Carroll
   Presented by: Christopher Carroll, Johns Hopkins University

Session 43: Unemployment and Job Search

Date: June 24, 2005
Time: 13:15 - 24:15
Location: M202
 

Privatization, Unemployment and Subsidy
By K. Balla, G. Kertesi, J. Kollo, A. Simonovits
   Presented by: Andras Simonovits, Institute of Economics
 

Embodied Technical Change and the Persistence of Vacancies
By Reinout De Bock
   Presented by: Reinout De Bock, Northwestern University
 

Structural Change and Aggregate Employment with Mobility Barriers
By Liwa Rachel Ngai and Christopher Pissarides
   Presented by: rachel ngai, london school of economics
 

Directed search without wage commitment: a new role for minimum wages and unions.
By Adrian Masters
   Presented by: Adrian Masters, State University of New York Albany

Session 44: Accounting for International Price Differentials

Date: June 24, 2005
Time: 13:15 - 15:15
Location: F809
 

Price Dispersion: The Role of Borders, Distance and Location
By Mario Crucini, Chris Telmer, Marios Zachariadis
   Presented by: Mario Crucini, Vanderbilt University
 

How Relative Prices Differ Across Countries, and
By Berhtold Herrendorf and Akos Valentinyi
   Presented by: Akos Valentinyi, University of Southampton
 

Violating Purchasing Power Parity
By George Alessandria and Joseph Kaboski
   Presented by: George Alessandria, Federal Reserve Bank of Philadelphia
 

A Decomposition of the Sources of Incomplete Cross-Border Transmission
By Rebecca Hellerstein
   Presented by: Rebecca Hellerstein, Federal Reserve Bank of New York

Session 45: Dynamics and Theory

Date: June 24, 2005
Time: 13:15 - 15:15
Location: F609
 

Endogenous Borrowing Constraints in the Presence of Shipping Costs
By Stephane Guibaud
   Presented by: Stephane Guibaud, Paris-Jourdan Sciences Economiques
 

Complete Markets, Enforcement Constraints and Intermediation
By Arpad Abraham and Eva Carceles-Poveda
   Presented by: Arpad Abraham,
 

Delay Aversion
By Jean-Pierre Benoît, Efe OK
   Presented by: Jean-Pierre Benoit, New York University
 

Strategic Experimentation with Undiscounted Bandits
By Godfrey Keller, Sven Rady
   Presented by: Godfrey Keller, University of Oxford

Session 46: Monetary Theory and Policy

Date: June 24, 2005
Time: 13:15 - 15:15
Location: M103 Gellner
 

Currency Areas and Monetary Coordination
By Qing Liu, Shouyong Shi
   Presented by: Qing Liu, University of Toronto
 

Money and Capital
By S. Boragan Aruoba, Christopher J. Waller, Randall Wright
   Presented by: S. Boragan Aruoba, University of Maryland
 

Monetary Policy and Distribution
By Stephen D. Williamson
   Presented by: Stephen Williamson, University of Iowa
 

"The effects of inflation in a search model of labor"
By Brian Peterson and Roberto Samaniego
   Presented by: Brian Peterson, Indiana University

Session 47: Driving Forces of Macroeconomic Trends

Date: June 24, 2005
Time: 13:15 - 15:15
Location: Auditorium
 

Wage Structure and Public Sector Employment: Sweden versus the United States 1970-1999
By David Domeij and Lars Ljungqvist
   Presented by: David Domeij, Stockholm School of Economics
 

Japanese Saving Rate
By Kaiji Chen, Ayse Imrohoroglu, and Selo Imrohoroglu
   Presented by: Ayse Imrohoroglu, usc
 

Saving and Interest Rates in Japan:Why They Have Fallen and Why They Will Remain Low
By R. Anton Braun, Daisuke Ikeda, Douglas Joines
   Presented by: R. Braun, University of Tokyo
 

Productivity and the Post-1990 U.S. Economy
By Ellen McGrattan & Edward Prescott
   Presented by: Ellen McGrattan, Federal Reserve Bank of Minneapolis

Session 48: Wealth Accumulation Over the Life Cycle

Date: June 24, 2005
Time: 15:45 - 17:45
Location: Auditorium
 

Risky Human Capital
By Mark Huggett, Gustavo Ventura, Amir Yaron
   Presented by: Gustavo Ventura, Pennsylvania State University
 

Estimating the Response of Bequests to Early and Late Income Shocks
By Joseph G. Altonji and Ernesto Villanueva
   Presented by: Joseph Altonji, Yale University
 

Estate taxes, entrepreneuship, and wealth
By Marco Cagetti and Mariacristina De Nardi
   Presented by: Mariacristina De Nardi, University of Minnesota

Session 49: Financial Crises

Date: June 24, 2005
Time: 15:45 - 17:45
Location: F409
 

Reputation and Price Dynamics in Financial Markets
By Amil Dasgupta and Andrea Prat
   Presented by: Amil Dasgupta, London School of Economics
 

Market Expectations and Currency Crises: Theory and Empirics
By Bernardo Guimaraes
   Presented by: Bernardo Guimaraes, London School of Economics
 

Crises and Prices: Information Aggregation, Multiplicity and Volatility
By George-Marios Angeletos and Ivan Werning
   Presented by: George-Marios Angeletos, Massachusetts Institute of Technology
 

Financial Crises and Interest Rates
By Christian Hellwig, Arijit Mukherji, Aleh Tsyvinski
   Presented by: Christian Hellwig, University of California Los Angeles

Session 50: Search, Market Segmentation, and Wages

Date: June 24, 2005
Time: 15:45 - 17:45
Location: F609
 

Human Capital Portfolios and the Distribution of Earnings
By Eric Smith
   Presented by: Eric Smith, University of Essex
 

Does Employment Protection Create Its Own Political Support? The Role of Wage Determination
By Bjoern Bruegemann
   Presented by: Bjorn Brugemann, Yale University
 

On the Segmentation of Markets
By Nicolas L Jacquet and Serene Tan
   Presented by: Nicolas Jacquet, University of Pennsylvania
 

Lots of Heterogeneity in a Matching Model
By Martin Browning, John Kennes and Aaron Schiff
   Presented by: John Kennes, University of Copenhagen

Session 51: Microfoundations of Wage and Price Rigidity

Date: June 24, 2005
Time: 15:45 - 17:45
Location: M102 Popper
 

Search, Costly Price Adjustment and the Frequency of Price Changes – Theory and Evidence
By Jerzy D. Konieczny and Andrzej Skrzypacz
   Presented by: Andrzej Skrzypacz, Stanford University
 

Dynamic Screening: A Role for Up-or-Out Contracts
By Braz Camargo and Elena Pastorino
   Presented by: Braz Camargo, University of Western Ontario
 

Shooting the Auctioneer
By Roger E. A. Farmer
   Presented by: Roger Farmer, University of California Los Angeles
 

Private Information, Wage Bargaining and Employment Fluctuations
By John Kennan
   Presented by: John Kennan, University of Wisconsin Madison

Session 52: Game Theory

Date: June 24, 2005
Time: 15:45 - 17:45
Location: M201
 

The Wisdom of the Minority
By Steven Callander, Johannes Horner
   Presented by: Johannes Horner, Northwestern University
 

Unawareness
By Jing Li
   Presented by: Jing Li, University of Pennsylvania
 

Revealed Preference in Game Theory
By Adam Galambos
   Presented by: Adam Galambos, Northwestern University
 

Theories of Coalitional Rationality
By Attila Ambrus
   Presented by: Attila Ambrus, Harvard University

Session 53: Banking

Date: June 24, 2005
Time: 15:45 - 17:45
Location: M202
 

Bank Finance versus Bond Finance: What Explains the Differences Between US and Europe?
By Fiorella De Fiore and Harald Uhlig
   Presented by: Fiorella De Fiore, European Central Bank
 

Forbearance and Prompt Corrective Action
By Narayana Kocherlakota, Ilhyock Shim
   Presented by: Ilhyock Shim, Bank for International Settlements`
 

Monopoly versus Competition in Banking: Some Implications for Growth and Welfare
By Beatrix Paal, Ke Wang and Bruce D. Smith
   Presented by: Beatrix Paal, University of Texas Austin
 

The Welfare Cost of Bank Capital Requirements
By Skander Van den Heuvel
   Presented by: Skander Van den Heuvel, University of Pennsylvania

Session 54: Job Search and Labor Contracts

Date: June 24, 2005
Time: 15:45 - 17:45
Location: M103 Gellner
 

A Theory of Wage and Turnover Dynamics
By Lalith Munasinghe
   Presented by: Lalith Munasinghe, Barnard College, Columbia University
 

Wage-Tenure Contracts, Experience and Employment Status
By Carlos Carrillo-Tudela
   Presented by: Carlos Carrillo-Tudela, University of Essex
 

Labor Market Dynamics under Long Term Wage Contracting
By Leena Rudanko
   Presented by: Leena Rudanko, University of Chicago
 

The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited
By Marcus Hagedorn, Iourii Manovskii
   Presented by: Marcus Hagedorn, University of Bonn

Session 55: Monetary Policy in Open Economies

Date: June 24, 2005
Time: 15:45 - 17:45
Location: F809
 

Optimal Monetary Policy in a Small Open Economy under Segmented Asset Markets and Sticky Prices
By Ruy Lama and Juan Pablo Medina
   Presented by: Ruy Lama, University of California Los Angeles
 

Real Effects of Nominal Exchange Rate Shocks
By Peter Benczur and Istvan Konya
   Presented by: Peter Benczur, Magyar Nemzeti Bank
 

Inflation Differentials and Labor and Product Market Differences in the EMU
By Alessia Campolmi and Ester Faia
   Presented by: Ester Faia, Universitat Pompeu Fabra
 

Optimal Fiscal and Monetary Policy in Open Economies
By Bernardino Adao and Isabel Correia
   Presented by: Isabel Correia, Banco de Portugal

Session 56: Trade and Business Cycles

Date: June 24, 2005
Time: 15:45 - 17:45
Location: F309
 

Trade Intensity and International Business Cycles
By Timothy J. Kehoe and Kim J. Ruhl
   Presented by: Kim Ruhl, University of Texas Austin
 

Import Protection as Export Destruction
By Hiroyuki Kasahara and Beverly Lapham
   Presented by: Beverly Lapham, Queen's University
 

Trade and the Canadian Great Depression
By Pedro Amaral and Jim MacGee
   Presented by: Jim MacGee, University of Western Ontario
 

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

Session 57: Firms, Investment, and TFP

Date: June 24, 2005
Time: 15:45 - 17:45
Location: F509
 

Macroeconomic Implications of Size Dependent Policies
By Nezih Guner, Gustavo Ventura, and Xu Yi
   Presented by: Nezih Guner, Pennsylvania State University
 

Development Accounting with Endogenous TFP
By Marla Ripoll and Juan Carlos Cordoba
   Presented by: Marla Ripoll, Univesity of Pittsburgh
 

Spurious Investment Specific Technological Change
By Bart Hobijn and Alisdair McKay
   Presented by: Bart Hobijn, Federal Reserve Bank of New York
 

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

Session 58: Growth Perspectives

Date: June 25, 2005
Time: 10:00 - 12:00
Location: F309
 

Human Capital and the Wealth of Nations
By Rodolfo Manuelli and Ananth Seshadri
   Presented by: Rodolfo Manuelli, University of Wisconsin
 

Colonies
By Matthias Doepke and Andrea Eisfeldt
   Presented by: Matthias Doepke, University of California Los Angeles
 

Three Equations Generating an Industrial Revolution
By Michele Boldrin, Larry E. Jones, and Aubhik Khan
   Presented by: Michele Boldrin, University of Minnesota
 

A Life-Cycle Theory of Household Size: United States 1850-2000
By Todd Schoellman and Michele Tertilt
   Presented by: Michele Tertilt, Stanford University

Session 59: Topics in International Economics

Date: June 25, 2005
Time: 10:00 - 12:00
Location: F409
 

Fiscal Policy Amplified Shocks in Emerging Markets
By Mark Aguiar, Manuel Amador and Gita Gopinath
   Presented by: Manuel Amador, Stanford University
 

Why Does Capital Flow to the Wrong Countries?
By Pierre-Olivier Gourinchas and Olivier Jeanne
   Presented by: Pierre-Olivier Gourinchas, University of California Berkeley
 

Sudden Stops in an Equilibrium Business Cycle Model with Credit Constraints: A Fisherian Deflation of Tobin's Q
By Enrique G. Mendoza
   Presented by: Enrique G. Mendoza, University of Maryland
 

Trade Costs, Pricing to Market, and International Relative Prices
By Andrew Atkeson and Ariel Burstein
   Presented by: Ariel Burstein, University of California Los Angeles

Session 60: Dynamic Models of Legislative Bargaining

Date: June 25, 2005
Time: 10:00 - 12:00
Location: F509
 

A Dynamic Theory of Endogenous Constitutions
By Matteo Cervellati, Piergiuseppe Fortunato, Uwe Sunde
   Presented by: Uwe Sunde, IZA
 

Bargaining over Taxation
By Julio Davila, Jan Eeckhout and Cesar Martinelli
   Presented by: Jan Eeckhout, University of Pennsylvania
 

Dynamics of Westminster Parliamentarism
By Tasos Kalandrakis
   Presented by: Tasos Kalandrakis, University of Rochester
 

Inefficiency in Legislative Policy-Making: A Dynamic Analysis
By Marco Battaglini and Stephen Coate
   Presented by: Marco Battaglini, Princeton University

Session 61: Empirical Analysis of Reallocation Frictions

Date: June 25, 2005
Time: 10:00 - 12:00
Location: Auditorium
 

A Theory of the Matching Function
By Robert Shimer
   Presented by: Robert Shimer, University of Chicago
 

An Empirical Model of Growth Through Product Innovation
By Rasmus Lentz and Dale T. Mortensen
   Presented by: Rasmus Lentz, Boston University
 

Career Dynamics Under Uncertainty: Estimating the Value of Firm Experimentation
By Elena Pastorino
   Presented by: Elena Pastorino, University of Pennsylvania
 

Minimum Wage and Compliance in a Model of Search On-the-Job
By Z. Eckstein, S. Ge and B. Petrongolo
   Presented by: Zvi Eckstein, Tel Aviv University

Session 62: Expectations: Empirical Analysis

Date: June 25, 2005
Time: 10:00 - 12:00
Location: M202
 

Learning and Bargaining in Dispute Resolution: Theory and Evidence from Medical Malpractice Litigation
By Yasutora Watanabe
   Presented by: Yasutora Watanabe, University of Pennsylvania
 

The Epidemiology of Consumption
By Christopher Carroll, Jiri Slacalek and Martin Sommer
   Presented by: Jiri Slacalek, German Institute for Economic Research Berlin
 

Measuring Revisions to Subjective Expectations
By Adeline Delavande
   Presented by: Adeline Delavande, RAND
 

Individual Perceptions of the Criminal Justice System
By Lance Lochner
   Presented by: Lance Lochner, University of Western Ontario

Session 63: Optimal Contracting Under Moral Hazard

Date: June 25, 2005
Time: 10:00 - 12:00
Location: M103 Gellner
 

Contracting with Repeated Moral Hazard and Private Evaluations
By William Fuchs
   Presented by: William Fuchs, Stanford Univeristy
 

Repeated Moral Hazard with Effort Persistence
By Arantxa Jarque
   Presented by: Arantxa Jarque, Universidad de Alicante
 

Reputation and Capital Controls
By Christopher Phelan
   Presented by: Christopher Phelan, Federal Reserve Bank of Minneapolis
 

Stochasitc Monitoring, Optimal Capital Structure and Executive Compensation
By Andrew Atkeson and Harold Cole
   Presented by: Harold Cole, University of California Los Angeles

Session 64: Social Security

Date: June 25, 2005
Time: 10:00 - 12:00
Location: F609
 

Sustainable Social Security
By Thomas Eisensee
   Presented by: Thomas Eisensee, Stockholm University
 

The Welfare Gains of Improving Risk Sharing in Social Security
By Conny Olovsson
   Presented by: Conny Olovsson, Stockholm School of Economics
 

Immigration and the Survival of the Welfare State
By Francesc Ortega
   Presented by: Francesc Ortega, Universitat Pompeu Fabra
 

Pareto-Improving Social Security Reform
By Douglas H. Joines
   Presented by: Douglas Joines, University of Southern California

Session 65: Finance and Monetary Policy

Date: June 25, 2005
Time: 10:00 - 12:00
Location: M201
 

Optimal Stabilization Policies in a Model with Financial Intermediation
By Aleksander Berentsen and Christopher Waller
   Presented by: Aleksander Berentsen, University of Basel
 

Monetary Policy and the Term Structure of Interest Rates
By Federico Ravenna and Juha Seppala
   Presented by: Juha Seppala, University of Illinois
 

No-Arbitrage Taylor Rules
By Andrew Ang, Sen Dong, Monika Piazzesi
   Presented by: Andrew Ang, Columbia Business School
 

Taylor Rules, McCallum Rules and the Term Structure of Interest Rates
By Michael F. Gallmeyer, Burton Hollifield, Stanley E. Zin
   Presented by: Stanley Zin, Carnegie Mellon University

Session 66: Business Cycles and Employment Dynamics

Date: June 25, 2005
Time: 10:00 - 12:00
Location: M102 Popper
 

Unemployment Dynamics with Staggered Nash Wage Bargaining
By Mark Gertler and Antonella Trigari
   Presented by: Antonella Trigari, IGIER, Università Bocconi
 

Organizational Capital and Employment Fluctuations
By Thijs van Rens
   Presented by: Thijs van Rens, Princeton University
 

Technology Shock and Employment: Do We Need Models with a Fall in Hours?
By Martial Dupaigne, Patrick Feve and Julien Matheron
   Presented by: Patrick Feve, University of Toulouse
 

A Century of Work and Leisure
By Valerie A. Ramey and Neville Francis
   Presented by: Valerie Ramey, University of California, San Diego

Session 67: Theoretical and Empirical Implications of Incomplete Markets Models

Date: June 25, 2005
Time: 13:15 - 15:15
Location: F409
 

Borrowing Constraints, Durables, and the Business Cycle
By Jesus Fernandez-Villaverde and Dirk Krueger
   Presented by: Jesus Fernandez-Villaverde, University of Pennsylvania
 

Job Displacement Risk and the Cost of Business Cycles
By Tom Krebs
   Presented by: Tom Krebs, Brown University
 

Rising Earnings Instability and Prices of Housing and Financial Assets
By Makoto Nakajima
   Presented by: Makoto Nakajima, University of Illinois, Urbana-Champaign
 

U.S. Inequality: Debt Constraints or Incomplete Markets?
By Juan Carlos Cordoba
   Presented by: Juan Cordoba, Rice University

Session 68: International Trade, FDI, and Offshoring

Date: June 25, 2005
Time: 13:15 - 15:15
Location: F309
 

Varieties, Terms of Trade and Growth
By Christian Broda and David Weinstein
   Presented by: Christian Broda, Federal Reserve Bank of New York
 

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

An Assignment Theory of Foreign Direct Investment
By Volker Nocke and Stephen Yeaple
   Presented by: Volker Nocke, University of Pennsylvania
 

Offshoring in a Knowledge Economy
By Pol Antras, Luis Garicano and Esteban Rossi-Hansberg
   Presented by: Esteban Rossi-Hansberg, Stanford University

Session 69: Empirical IO 1: Spatial Allocation of Firms

Date: June 25, 2005
Time: 13:15 - 15:15
Location: M201
 

The Dynamics of Retail Oligopolies
By Beresteanu Arie and Paul Ellickson
   Presented by: Arie Beresteanu, Duke University
 

Coordination Games, Multiple Equilibria and the Timing of Radio Commercials
By Andrew Sweeting
   Presented by: Andrew Sweeting, Northwestern University
 

Stochastic Dynamic Programming in Space: An Application to British Columbia Forestry
By Harry J. Paarsch and John Rust
   Presented by: Harry Paarsch, University of Iowa
 

Competition in Large Markets
By Jeffrey R. Campbell
   Presented by: Jeffrey Campbell, Federal Reserve Bank of Chicago

Session 70: Information and Asset Pricing

Date: June 25, 2005
Time: 13:15 - 15:15
Location: M102 Popper
 

A Search-Based Theory of the On-the-Run Phenomenon
By Dimitri Vayanos and Pierre-Olivier Weill
   Presented by: Pierre-Olivier Weill, New York University
 

Consumption Dynamics, Asset Pricing, and Welfare Effects under Information Processing Constraints
By Yulei Luo
   Presented by: Yulei Luo, Princeton University
 

Information Acquisition and Portfolio Underdiversification
By Stijn Van Nieuwerburgh and Laura Veldkamp
   Presented by: Stijn Van Nieuwerburgh, New York University
 

A Quantitative Model of Competitive Asset Pricing Under Private Information
By Juan Carlos Hatchondo, Per Krusell, and Martin Schneider
   Presented by: Per Krusell, University of Rochester

Session 71: Matching and Dynamic Contracts

Date: June 25, 2005
Time: 13:15 - 15:15
Location: M103 Gellner
 

Social Preferences, Skill Segregation, and Wage Dynamics
By Antonio Cabrales, Antoni Calvo-Armengol, Nicola Pavoni
   Presented by: Nicola Pavoni, University College of London
 

Wage Distribution with a Two-Sided Job Auction
By Marja-Liisa Halko, Klaus Kultti, Juha Virrankoski
   Presented by: Juha Virrankoski, University of Helsinki
 

Termination of Dynamic Contracts in an Equilibrium Labor Market Model
By Cheng Wang
   Presented by: Cheng Wang, Iowa State University
 

Surplus Sharing and Pricing in Matching Markets
By George Mailath, Andrew Postlewaite, Larry Samuelson
   Presented by: Andrew Postlewaite, University of Pennsylvania

Session 72: Empirical Studies of Consumption Behavior

Date: June 25, 2005
Time: 13:15 - 15:15
Location: F809
 

Aggregate Shocks, Idiosyncratic Risk, and Durable Goods Purchases: Evidence from Turkeys 1994 Financial Crisis
By Burcu Duygan
   Presented by: Burcu Duygan, European University Institute
 

Adjustment to a Large Shock - Do Households Smooth Low Frequency Consumption?
By Nicola Fuchs-Schuendeln
   Presented by: Nicola Fuchs-Schuendeln, Harvard University
 

Temptation and Self-Control: Some Evidence from the Consumer Expenditure Survey
By Kevin X.D. Huang, Zheng Liu, Qi Zhu
   Presented by: Kevin Huang, Federal Reserve Bank of Philadelphia
 

Risk Sharing
By Martin Gervais, Paul Klein
   Presented by: Martin Gervais, University of Western Ontario

Session 73: Growth

Date: June 25, 2005
Time: 13:15 - 15:15
Location: F609
 

The Stock Market and the Allocation of Capital in a Production Economy
By Joel Peress
   Presented by: Joel Peress, INSEAD
 

Intermediation Costs, Investor Protection, and Economic Development
By António Antunes, Tiago V. de V. Cavalcanti and Anne P. Villamil
   Presented by: Tiago Cavalcanti, Universidade Nova de Lisboa
 

Technological Diversification
By Miklos Koren and Silvana Tenreyro
   Presented by: Miklos Koren, Harvard University, Hungarian Academy of Sciences
 

Corporata Taxes, Growth and Welfare in a Schumpeterian Economy
By Pietro F. Peretto
   Presented by: Pietro Peretto, Duke University

Session 74: Optimal Fiscal and Monetary Policy

Date: June 25, 2005
Time: 13:15 - 15:15
Location: Auditorium
 

On the Privatization of Public Debt
By Marco Del Negro, Fabrizio Perri, Fabiano Schivardi
   Presented by: Fabiano Schivardi, Bank of Italy
 

The Benefits of Low Inflation: Financial Development within an Endogenous Growth Economy
By Max Gillman, Mark Harris, Michal Kejak
   Presented by: Max Gillman, Central European University
 

Benefits from U.S. Monetary Policy Experimentation in the Days of Samuelson
By Timothy Cogley, Riccardo Colacito, Thomas Sargent
   Presented by: Thomas Sargent, New York University
 

Endogenous Money, Inflation and Welfare
By Espen Henriksen and Finn Kydland
   Presented by: Espen Henriksen, GSIA, CMU

Session 75: Impulse and Propagation Mechanisms

Date: June 25, 2005
Time: 13:15 - 15:15
Location: F509
 

Learning-by-Doing or Habit Formation?
By Hafedh Bouakez and Takashi Kano
   Presented by: Hafedh Bouakez, HEC Montreal
 

Stabilization versus Insurance: Welfare Effects of Procyclical Taxation Under Incomplete Markets
By James Costain, Michael Reiter
   Presented by: James Costain, Universidad Carlos III de Madrid
 

Ambiguity and the Welfare Costs of Aggregate Fluctuations
By Irasema Alonso and Jose Mauricio Prado Jr.
   Presented by: Irasema Alonso, University of Rochester
 

The Granular Origins of Aggregate Fluctuations
By Xavier Gabaix
   Presented by: Xavier Gabaix, Massachusetts Institute of Technology

Session 76: Perspectives on Sovereign Debt and Default

Date: June 25, 2005
Time: 15:45 - 17:45
Location: F409
 

Haircuts
By Federico Sturzenegger and Jeromin Zettelmeyer
   Presented by: Jeromin Zettelmeyer, International Monetary Fund
 

Sovereign Defaults: Information, Investment and Credit
By Guido M. Sandleris
   Presented by: Guido Sandleris, Columbia University
 

A Theory of Debt Overhang and Buyback
By Natalia Kovrijnykh and Balazs Szentes
   Presented by: Balazs Szentes, Boston University
 

Guano Happens: Two Centuries of Sovereign Debt and Default
By Mike Tomz and Mark Wright
   Presented by: Mark Wright, Stanford University

Session 77: Empirical Research in Labor Economics

Date: June 25, 2005
Time: 15:45 - 17:45
Location: F309
 

The Public Pay Gap in Britain: Small Differences that (Don't?) Matter
By Fabien Postel-Vinay and Helene Turon
   Presented by: Fabien Postel-Vinay, CREST-INSEE
 

More Results on the Use of Record Statistics in Job Search Models
By Gadi Barlevy
   Presented by: Gadi Barlevy, Federal Reserve Bank of Chicago
 

Career Progression and Formal versus On the Job Training
By J. Adda, C. Dustmann, C. Meghir, J.-M. Robin
   Presented by: Jean-Marc Robin, University Paris 1
 

How Large are Search Frictions
By Pieter Gautier & Coen Teulings
   Presented by: C.N. Teulings, University of Amsterdam

Session 78: Monetary Economies with Segmented Markets

Date: June 25, 2005
Time: 15:45 - 17:45
Location: M202
 

Sticky Demand or Sticky Prices?
By Chris Edmond
   Presented by: Chris Edmond, New York University
 

Endogenously Segmented Asset Market in an Inventory Theoretic Model of Money Demand
By Jonathan Chiu
   Presented by: Jonathan Chiu, University of Western Ontario
 

Inflation and Interest Rates with Endogenous Market Segmentation
By Aubhik Khan and Julia K. Thomas
   Presented by: Julia Thomas, University of Minnesota
 

A Likelihood-Based Evaluation of the Segmented Markets Friction in Equilibrium Monetary Models
By John Landon-Lane and Filippo Occhino
   Presented by: Filippo Occhino, Rutgers University

Session 79: Matching: Theory and Empirics

Date: June 25, 2005
Time: 15:45 - 17:45
Location: M201
 

Semiparametric Estimation of Two-Sided Matching Models with Endogenous Prices
By Jeremy T. Fox
   Presented by: Jeremy Fox, University of Chicago
 

Credible Group Stability in Multi-Partner Matching Problems
By Hideo Konishi and Utku Unver
   Presented by: Utku Unver, Koc University
 

Assortative Matching with Explicit Search Costs
By Alp Atakan
   Presented by: Alp Atakan, Northwestern University
 

A Theory of Stability in Many-to-Many Matching Markets
By Federico Echenique and Jorge Oviedo
   Presented by: Federico Echenique,

Session 80: Computational Dynamic General Equilibrium

Date: June 25, 2005
Time: 15:45 - 17:45
Location: M102 Popper
 

Optimal Policy Under Sticky Prices: How to Get Accurate Solutions
By Michael Reiter
   Presented by: Michael Reiter, Universitat Pompeu Fabra
 

Two-Fund Separation in Dynamic General Equilibrium
By Karl Schmedders
   Presented by: Karl Schmedders, Kellogg School of Management
 

Approximate Generalizations in Applied Equilibrium Analysis
By Felix Kubler
   Presented by: Felix Kubler, University of Mannheim
 

Numerical Solution of Dynamic Non-Optimal Economies
By Jianjun Miao and Manuel Santos
   Presented by: Jianjun Miao, Boston University

Session 81: Asset Pricing 2

Date: June 25, 2005
Time: 15:45 - 17:45
Location: M103 Gellner
 

Was There a Nasdaq Bubble in the Late 1990s?
By Lubos Pastor and Pietro Veronesi
   Presented by: Lubos Pastor, University of Chicago
 

Asset Prices and Asset Correlations in Illiquid Markets
By Celso Brunetti and Alessio Caldarera
   Presented by: Celso Brunetti, Johns Hopkins University
 

Why is Long-Horizon Equity Less Risky? A Duration-Based Explanation of the Value Premium
By Martin Lettau and Jessica Wachter
   Presented by: Jessica Wachter, University of Pennsylvania
 

Human Capital Risk, Stockholder Consumption, and Asset Returns
By Christopher Malloy, Tobias Moskowitz, Annette Vissing-Jorgensen
   Presented by: Christopher Malloy, London Business School

Session 82: Life Cycle Decisions and Altruism

Date: June 25, 2005
Time: 15:45 - 17:45
Location: F809
 

Subjective Morality Risks and Bequests
By Li Gan, Guan Gong, Michael Hurd, Daniel McFadden
   Presented by: Guan Gong, University of Texas Austin
 

Explaining Life-Cycle Asset Allocation : The Role of Bequests and Under-Diversification
By Claudio Campanale, Fatih Guvenen
   Presented by: Claudio Campanale, University of Alicante
 

Elimination of Social Security in a Dynastic Framework
By Aise Imrohoroglu and Selahattin Imrohoroglu
   Presented by: Selahattin Imrohoroglu, University of Southern California
 

The Effects of Longevity and Distortions on Education and Retirement.
By Pedro Cavalcanti Ferreira and Samuel de Abreu Pessoa
   Presented by: Pedro Ferreira, Getulio Vargas

Session 83: Trade, Institutions, and Growth

Date: June 25, 2005
Time: 15:45 - 17:45
Location: F609
 

Globalization and Democracy, 1870-2000
By Jose Ernesto Lopez Cordova and Christopher M. Meissner
   Presented by: Christopher Meissner, University of Cambridge
 

An unbalanced growth path for the global economy
By Cristina Echevarria and Christopher Hajzler
   Presented by: Cristina Echevarria, University of Saskatchewan
 

Institutions: Why are They Persistent and Why Do They Change?
By Bryan Paterson
   Presented by: Bryan Paterson, Queen's University
 

On the Joint Dynamics of Inequality and Growth
By Fernando Jaramillo, Hubert Kempf, Fabien Moizeau
   Presented by: Hubert Kempf,

Session 84: Time Consistency of Monetary and Fiscal Policy

Date: June 25, 2005
Time: 15:45 - 17:45
Location: F509
 

Default Risk, the Real Exchange Rate and Income Fluctuations in Emerging Economies
By Cristina Arellano
   Presented by: Cristina Arellano, University of Minnesota
 

Optimal Fiscal Policy and the (Lack of) Time Inconsistency Problem
By Marina Azzimonti, Pierre-Daniel Sarte and Jorge Soares
   Presented by: Marina Azzimonti Renzo, University of Iowa
 

Time Consistent Fiscal Policy and Heterogeneous Agents
By Roc Armenter
   Presented by: Roc Armenter, Federal Reserve Bank of New York
 

Tax Riots
By Marco Bassetto and Christopher Phelan
   Presented by: Marco Bassetto, University of Minnesota

Session 85: On the Determinants of Business Cycles

Date: June 25, 2005
Time: 15:45 - 17:45
Location: Auditorium
 

Stock Prices, Total Factor Productivity and Economic Fluctuations; Some Further Evidence from Japanese and U.S. Sectoral Data
By Paul Beaudry & Franck Portier
   Presented by: Franck Portier, Universite de Toulouse
 

The European Unemployment Experience: Theoretical Robustness
By Lars Ljungqvist and Thomas J. Sargent
   Presented by: Lars Ljungqvist, Stockholm School of Economics
 

Growth Expectations and Business Cycles
By Wouter J. Denhaan, Georg Kaltenbrunner
   Presented by: Wouter Denhaan, London School of Economics
 

Why have business cycle fluctuations become less volatile?
By Andres Arias, Gary Hansen and Lee Ohanian
   Presented by: Gary Hansen, UCLA