2006 Meetings of the Society for Economic Dynamics

Summary of All Sessions

#Date/TimeLocationTitlePapers
16 July
10:00-12:00
Junior Ballroom C Offshoring, FDI, and Trade4
26 July
10:00-12:00
Junior Ballroom B Labor Search 14
36 July
10:00-12:00
Port Alberni Wealth Distribution4
46 July
10:00-12:00
Parksville Financial Integration4
56 July
10:00-12:00
Junior Ballroom D Fertility and Participation during the 20th Century4
66 July
10:00-12:00
Junior Ballroom A Structural Change and the Decline in Manufacturing4
76 July
10:00-12:00
Port McNeill Bank of Canada Session on Money and Efficiency4
86 July
10:00-12:00
Port Hardy Speculation, Crises, and Crashes4
96 July
10:00-12:00
Grand Ballroom A Dynamic Games4
106 July
10:00-12:00
Grand Ballroom D Asset Pricing4
116 July
10:00-12:00
Gulf Islands A IO Methods4
126 July
13:15-15:15
Junior Ballroom C International Economics4
136 July
13:15-15:15
Gulf Islands A Applications in IO4
146 July
13:15-15:15
Junior Ballroom A Technology Diffusion and Innovation4
156 July
13:15-15:15
Junior Ballroom B Markets and Contracts4
166 July
13:15-15:15
Port Alberni Cities3
176 July
13:15-15:15
Grand Ballroom D VARs and Macroeconomics4
186 July
13:15-15:15
Parksville Debt and Bankruptcy4
196 July
13:15-15:15
Junior Ballroom D Return Predictability4
206 July
13:15-15:15
Port McNeill Labor Markets 14
216 July
13:15-15:15
Port Hardy Labor and Development4
226 July
13:15-15:15
Grand Ballroom A Macro Implications of Marriage4
236 July
15:45-17:50
Port Hardy Public Policy4
246 July
15:45-17:45
Junior Ballroom C Quantitative Models of Savings with Heterogeneous Agents4
256 July
15:45-17:45
Junior Ballroom D Monetary Theory4
266 July
15:45-17:45
Gulf Islands A Patents, Ideas, and Firms4
276 July
15:45-17:45
Grand Ballroom D Asset Markets and Macroeconomics4
286 July
15:45-17:45
Junior Ballroom A Labor Markets, Gender, and Crime4
296 July
15:45-17:45
Parksville Trade and Growth4
306 July
15:45-17:45
Port McNeill Business Cycles 14
316 July
15:45-17:45
Junior Ballroom B Long-Run Perspectives on Growth4
326 July
15:45-17:45
Grand Ballroom A New Public Finance4
336 July
15:45-17:45
Port Alberni Models of On the Job Search4
347 July
10:00-12:00
Junior Ballroom C Two-Sided Matching4
357 July
10:00-12:00
Junior Ballroom B Inequality and Labor Market Risk4
367 July
10:00-12:00
Port Hardy Monetary Policy 14
377 July
10:00-12:00
Grand Ballroom D Debt and Taxes4
387 July
10:00-12:00
Gulf Islands A Quantitative Macroeconomics4
397 July
10:00-12:00
Junior Ballroom A Idiosyncratic Risk and Aggregate Outcomes4
407 July
10:00-12:00
Parksville Dynamic Models, Risk, and Financial Markets4
417 July
10:00-12:00
Port McNeill Prices and Exchange Rates4
427 July
10:00-12:00
Port Alberni Firm Dynamics4
437 July
10:00-12:00
Junior Ballroom D The Economics of Mortality Reductions4
447 July
10:00-12:00
Grand Ballroom A Structural Transformation and Outcomes4
457 July
13:15-15:15
Junior Ballroom C Optimal Taxation of Risky Capital and Estates with Private Information4
467 July
13:15-15:15
Grand Ballroom D The Pricing of Aggregate and Idiosyncratic Risk3
477 July
13:15-15:15
Junior Ballroom D Information and Technology Choice4
487 July
13:15-15:15
Port Hardy Work and Leisure in the Long Run4
497 July
13:15-15:15
Gulf Islands A Labor Markets 24
507 July
13:15-15:15
Junior Ballroom A Monetary Policy 24
517 July
13:15-15:15
Port Alberni Growth and Development 14
527 July
13:15-15:15
Port McNeill Bank of Canada Session on Capital and Credit Markets4
537 July
13:15-15:15
Junior Ballroom B Government and Market Failure3
547 July
13:15-15:15
Grand Ballroom A Estimation of Dynamic General Equilibrium Models with Heterogeneity3
557 July
13:15-15:15
Parksville International Capital Flows4
567 July
15:45-17:45
Port Hardy International Business Cycles4
577 July
15:45-17:45
Junior Ballroom D Measurement and Empirical Modeling of Business Cycles4
587 July
15:45-17:45
Grand Ballroom A Hours and Unemployment4
597 July
15:45-17:45
Gulf Islands A Housing3
607 July
15:45-17:45
Junior Ballroom C Pricing4
617 July
15:45-17:45
Junior Ballroom A Sectoral Heterogeneity and Economic Development4
627 July
15:45-17:45
Grand Ballroom D Dynamic Contracting in Continuous Time4
637 July
15:45-17:45
Junior Ballroom B Trade4
647 July
15:45-17:45
Port Alberni Labor Earnings4
657 July
15:45-17:45
Parksville International Financial Integration4
667 July
15:45-17:45
Port McNeill Bank of Canada Session on Money and Credit4
678 July
10:00-12:00
Parksville Risk Sharing and Welfare4
688 July
10:00-12:00
Port Hardy Aggregate Implications of Labor Market Frictions4
698 July
10:00-12:00
Junior Ballroom C Entrepreneurs3
708 July
10:00-12:00
Junior Ballroom D Applications of Dynamic Models in IO4
718 July
10:00-12:00
Grand Ballroom A Families and the Macroeconomy4
728 July
10:00-12:00
Gulf Islands A Growth and Development 24
738 July
10:00-12:00
Port Alberni Trade, Volatility and Productivity4
748 July
10:00-12:00
Junior Ballroom A Monetary Search Models4
758 July
10:00-12:00
Grand Ballroom D Perspectives on International Financial Crises4
768 July
10:00-12:00
Junior Ballroom B Job Creation and Job Destruction4
778 July
10:00-12:00
Port McNeill Economic Theory4
788 July
13:15-15:15
Port Hardy Learning and Information4
798 July
13:15-15:15
Port McNeill Bank of Canada Session on Banking and Credit4
808 July
13:15-15:15
Gulf Islands A Investors and Traders4
818 July
13:15-15:15
Junior Ballroom A Financial Markets, Monetary Policy, and Exchange Rates4
828 July
13:15-15:15
Grand Ballroom D Labor Search 24
838 July
13:15-15:15
Junior Ballroom C Sovereign Debt and Debt Structure4
848 July
13:15-15:15
Grand Ballroom A Savings, Investment, and Business Cycles4
858 July
13:15-15:15
Parksville Cross-Country Income Differences4
868 July
13:15-15:15
Junior Ballroom D Information Frictions and Macroeconomic Fluctuations4
878 July
13:15-15:15
Junior Ballroom B International Capital Flows and the Current Account4
888 July
13:15-15:15
Port Alberni Health and Population4
898 July
15:45-17:45
Junior Ballroom C Innovation and Technological Change4
908 July
15:45-17:45
Junior Ballroom D Productivity, R&D, and Growth4
918 July
15:45-17:45
Port Hardy Trade Policy4
928 July
15:45-17:45
Parksville Economic Growth and Economic Policy4
938 July
15:45-17:45
Grand Ballroom A Search and Growth4
948 July
15:45-17:45
Port McNeill Optimal Taxation4
958 July
15:45-17:45
Gulf Islands A Business Cycles 24
968 July
15:45-17:45
Junior Ballroom A Money and Inflation4
978 July
15:45-17:45
Port Alberni Sovereign Debt4
988 July
15:45-17:45
Junior Ballroom B Housing and the Macroeconomy4
998 July
15:45-17:45
Grand Ballroom D Finance in Production Economies4
 

99 sessions, 390 papers


 

2006 Meetings of the Society for Economic Dynamics

Complete List of All Sessions


Session 1: Offshoring, FDI, and Trade

Date: July 6, 2006
Time: 10:00 - 12:00
Location: Junior Ballroom C
 

Organizing Offshoring:Middle Managers and Communication Costs
By Pol Antràs, Harvard University Luis Garicano, University of Chicago Esteban Rossi-Hansberg, Princeton University
   Presented by: Esteban Rossi-Hansberg, Princeton University
 

FDI Flows and Multinational Firm Activity
By Pol Antràs, Harvard University Mihir A. Desai, Harvard University C. Fritz Foley, Harvard University
   Presented by: Pol Antras, Harvard University
 

Size, Geography, and Multinational Production
By Natalia Ramondo The University of Chicago
   Presented by: natalia ramondo, University of Chicago
 

How Important is the New Goods Margin in International Trade?
By Timothy J. Kehoe, University of Minnesota and Federal Reserve Bank of Minneapolis Kim J. Ruhl, University of Texas at Austin
   Presented by: Timothy Kehoe,

Session 2: Labor Search 1

Date: July 6, 2006
Time: 10:00 - 12:00
Location: Junior Ballroom B
 

Job Search, Bargaining, and Wage Dynamics
By Shintaro Yamaguchi
   Presented by: Shintaro Yamaguchi, University of Wisconsin-Madison
 

The dynamics of labor markets in Europe and the US: Specific skills or employment protection?
By Alain Delacroix (UQAM, CIRPÉE) Etienne Wasmer (UQAM, CIRPÉE)
   Presented by: Etienne Wasmer, private
 

Hiring Freeze and Bankruptcy in Unemployment Dynamics
By Pietro Garibaldi, University of Turin
   Presented by: Pietro Garibaldi,
 

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

Session 3: Wealth Distribution

Date: July 6, 2006
Time: 10:00 - 12:00
Location: Port Alberni
 

How Important Is Discount Rate Heterogeneity for Wealth Inequality?
By Lutz Hendricks, Iowa State University and University of Sydney
   Presented by: Lutz Hendricks,
 

Altruism, Education and U.S. Wealth Inequality
By Christoph Winter, European University Institute, Economics Departement
   Presented by: Christoph Winter, European University Institute
 

Accounting for the Heterogeneity in Retirement Wealth
By Fang Yang University of Minnesota
   Presented by: Fang Yang, University of Minnesota
 

The distribution of wealth and redistributive policies
By Jess Benhabib (NYU-Economics) Alberto Bisin (NYU-Economics)
   Presented by: Alberto Bisin, New York University

Session 4: Financial Integration

Date: July 6, 2006
Time: 10:00 - 12:00
Location: Parksville
 

Financial Integration, Credit Market Imperfections and Consumption Smoothing
By Asli Leblebicioglu, North Carolina State University
   Presented by: Asli Leblebicioglu, North Carolina State University
 

Why doesn't Luxembourg export all its capital to India
By Bart Taub UIUC Rui Zhao UIUC
   Presented by: Rui Zhao,
 

Sovereign Risk: Constitutions Rule
By Emanuel Kohlscheen
   Presented by: Emanuel Kohlscheen,
 

Global Current Account Adjustments: A Decomposition
By Michael B. Devereux (University of British Columbia) Amartya Lahiri (University of British Colubmia)
   Presented by: Michael Devereux, University of British Columbia

Session 5: Fertility and Participation during the 20th Century

Date: July 6, 2006
Time: 10:00 - 12:00
Location: Junior Ballroom D
 

Women's Economic Progress and Inequality
By L Yuetyee Wong
   Presented by: Linda Yueyee Wong, private
 

From Busts to Booms in Babies and Godies
By Michele Boldrin Larry E. Jones Alice Schoonbroodt
   Presented by: Alice Schoonbroodt, University of Minnesota
 

The Baby Boom and World War II: The Role of Labor Market Experience
By Matthias Doepke, UCLA Moshe Hazan, Hebrew University Yishay Maoz, University of Haifa
   Presented by: Matthias Doepke, University of California Los Angeles
 

Home production and discrimination: a joint explanation for recent trends of gender differentials in education and in the labor market
By Andrea Moro, NY Fed Luca Flabbi, Georgetown University
   Presented by: Luca Flabbi, Georgetown University

Session 6: Structural Change and the Decline in Manufacturing

Date: July 6, 2006
Time: 10:00 - 12:00
Location: Junior Ballroom A
 

Accounting for Wage and Employment Changes in the U.S. from 1968-2000: A Dynamic Model of Labor Market Equilibrium
By Donghoon Lee, New York University Kenneth I. Wolpin, University of Pennsylvania
   Presented by: Donghoon Lee, NYU
 

Capital Deepening and Non-Balanced Economic Growth
By Daron Acemoglu, MIT Veronica Guerrieri, MIT
   Presented by: Veronica Guerrieri, public
 

Structural Change and the Kaldor Facts of Economic Growth
By Reto Foellmi, University of Zurich Josef Zweimüller, University of Zurich and CEPR
   Presented by: Reto Foellmi, University of Zurich
 

The Rise of the Service Economy
By Francisco J. Buera Northwestern University Joseph P. Kaboski Ohio State University
   Presented by: Joseph Kaboski,

Session 7: Bank of Canada Session on Money and Efficiency

Date: July 6, 2006
Time: 10:00 - 12:00
Location: Port McNeill
 

Aggregate Uncertainty, Money and Banking
By Hongfei Sun
   Presented by: Hongfei Sun, University of Toronto
 

Directed Multilateral Matching in a Monetary Economy
By Manolis Galenianos, University of Pennsylvania Philipp Kircher, University of Bonn
   Presented by: Manolis Galenianos, University of Pennsylvania
 

Money and the Variety of Goods
By Ken Burdett, Department of Economics, University of Pennsylvania Andrei Shevchenko, Department of Economics, Michigan State University
   Presented by: Andrei Shevchenko,
 

Welfare improvement from restricting the liquidity of nominal bonds
By Shouyong Shi University of Toronto
   Presented by: Shouyong Shi, public

Session 8: Speculation, Crises, and Crashes

Date: July 6, 2006
Time: 10:00 - 12:00
Location: Port Hardy
 

Bubbles and Self-fulfilling Crises
By Edouard Challe, CNRS-CEREG Xavier Ragot, CNRS-PSE
   Presented by: Edouard Challe, public
 

Expectations and Contagion in Self-fulfilling Currency Attacks
By Todd Keister, Federal Reserve Bank of New York
   Presented by: Todd Keister, Federal Reserve Bank of New York
 

Slow(er) boom, sudden crash: Asymmetry on lending rates and financial frictions
By Guillermo Ordonez, UCLA
   Presented by: Guillermo Ordonez, UCLA
 

The Returns to Currency Speculation
By Craig Burnside (Duke) Martin Eichenbaum (Northwestern) Isaac Kleshchelski (Northwestern) Sergio Rebelo (Northwestern)
   Presented by: A. Craig Burnside, Duke University

Session 9: Dynamic Games

Date: July 6, 2006
Time: 10:00 - 12:00
Location: Grand Ballroom A
 

Sequential Equilibria with Infinite Histories
By Christopher Phelan, Federal Reserve Bank of Minneapolis Andrzej Skrzypacz, Graduate School of Business, Stanford University
   Presented by: Christopher Phelan,
 

Continuous Time Models of Repeated Games with Imperfect Public Monitoring
By Drew Fudenberg, Harvard University David K. Levine, UCLA
   Presented by: David Levine,
 

The role of information in repeated games with frequent actions
By Yuliy Sannikov, UC Berkely Andrzej Skrzypacz, Stanford GSB
   Presented by: Andrzej Skrzypacz, Stanford University
 

Learning in Society
By Braz Camargo University of Western Ontario
   Presented by: Braz Camargo, University of Western Ontario

Session 10: Asset Pricing

Date: July 6, 2006
Time: 10:00 - 12:00
Location: Grand Ballroom D
 

Investor Information, Long-Run Risk, and the Duration fo Risky Assets
By Croce, Mariano M., Econ. Dep. NYU Lettau, Martin, Finance Dep. STERN-NYU Ludvigson Sydney C., Econ. Dep. NYU
   Presented by: Sydney Ludvigson, public
 

Pricing Rare Event Risk in Emerging Markets
By Stephan Dieckmann, Arizona State University Michael Gallmeyer, Texas A&M University
   Presented by: Stephan Dieckmann, Arizona State University
 

General option exercise rules, with applications to embedded options and monopolistic expansion
By Svetlana Boyarchenko, University of Texas, Austin Sergei Levendorskii, University of Texas, Austin
   Presented by: Sergei Levendorskii,
 

Expectations and Asset Prices with Heterogeneous Households
By Monika Piazzesi University of Chicago Martin Schneider NYU and FRB Minneapolis
   Presented by: Martin Schneider, New York University

Session 11: IO Methods

Date: July 6, 2006
Time: 10:00 - 12:00
Location: Gulf Islands A
 

A Semi-Nonparametric Approach to Estimating ProductionFunctions When Output Prices are Unobserved
By Dennis Epple, Carnegie Mellon University Brett Gordon, Carnegie Mellon University Holger Sieg, Carnegie Mellon University
   Presented by: Holger Sieg, Carnegie Mellon University
 

Estimating the Structure of Sunk Costs in the US Airline Industry
By Victor Aguirregabiria (Boston University) Chun-Yu Ho (Boston University)
   Presented by: Chun-Yu Ho, Boston University
 

Consumer heterogeneity, demand for durable goods and the dynamics of quality
By Juan Esteban Carranza University of Wisconsin-Madison
   Presented by: Juan Esteban Carranza, University of Wisconsin-Madison
 

Control Function Corrections for Unobserved Factors in Differentiated Product Models
By Amil Petrin University of Chicago GSB and NBER Kenneth Train University of CA, Berkeley
   Presented by: Amil Petrin, University of Chicago

Session 12: International Economics

Date: July 6, 2006
Time: 13:15 - 15:15
Location: Junior Ballroom C
 

Firm Heterogeneity, Export Participation, and Trade Reform
By George Alessandria, Federal Reserve Bank of Philadelphia Horag Choi, University of Auckland
   Presented by: George Alessandria, Federal Reserve Bank of Philadelphia
 

Capital markets liberalization and global imbalances
By Vincenzo Quadrini University of Southern California
   Presented by: Vincenzo Quadrini,
 

Persistent Real Exchange Rates
By Alok Johri, McMaster University Amartya Lahiri, UBC
   Presented by: Alok Johri, McMaster University
 

Nontraded Goods, Market Segmentation, and Exchange Rates
By Michael Dotsey, Federal Reserve Bank of Philadelphia Margarida Duarte, Federal Reserve Bank of Richmond
   Presented by: Margarida Duarte, Federal Reserve Bank of Richmond

Session 13: Applications in IO

Date: July 6, 2006
Time: 13:15 - 15:15
Location: Gulf Islands A
 

Nearly Optimal Pricing for Multiproduct Firms
By Chenghuan Sean Chu (Stanford) Phillip Leslie (Stanford) Alan Sorensen (Stanford)
   Presented by: Alan Sorensen, Stanford University
 

Price Discrimination with Experience Goods: a Structural Econometric Analysis
By Ronald Goettler, Carnegie Mellon University Karen Clay, Carnegie Mellon University
   Presented by: Ronald Goettler, Carnegie Mellon University
 

Does Regulation Reduce Productivity? Evidence From Regulation of the U.S. Beet-Sugar Manufacturing Industry During the Sugar Acts, 1934-74
By Benjamin Bridgman (Bureau of Economic Analysis) Shi Qi (University of Minnesota) James Schmitz (Federal Reserve Bank of Minneapolis)
   Presented by: James Schmitz,
 

The Timing of New Technology Adoption: The Case of MRI
By Philipp Schmidt-Dengler
   Presented by: Philipp Schmidt-Dengler, public

Session 14: Technology Diffusion and Innovation

Date: July 6, 2006
Time: 13:15 - 15:15
Location: Junior Ballroom A
 

Backstop Technology Adoption
By Matti Liski, Helsinki School of Economics Pauli Murto, Helsinki School of Economics
   Presented by: Pauli Murto, Helsinki School of Economics
 

Entrepreneurial Risk, Investment and Innovation
By Andrea Caggese Universitat Pompeu Fabra
   Presented by: Andrea Caggese, Pompeu Fabra University
 

On Multinational Firms, Diffusion of Skills and Development
By Alexander Monge-Naranjo
   Presented by: Alexander Monge-Naranjo, Northwestern University
 

A Theory of Entry and Exit with Embodied Rate of Technical Change
By Roberto M Samaniego George Washington University
   Presented by: Roberto Samaniego, George Washington University

Session 15: Markets and Contracts

Date: July 6, 2006
Time: 13:15 - 15:15
Location: Junior Ballroom B
 

Moral Hazard and Persistence
By Hugo Hopenhayn, UCLA Arantxa Jarque, U. of Alicante
   Presented by: Arantxa Jarque, Universidad de Alicante
 

Responsive Pricing
By Mario Pagliero
   Presented by: Pascal Courty,
 

The Sunk Cost Bias and Managerial Pricing Practices
By Nabil Al-Najjar, Sandeep Baliga and David Besanko Northwestern University
   Presented by: Sandeep Baliga,
 

Dynamic Suboptimality of Competitive Equilibrium in Multiperiod Stochastic Overlapping Generations Economies
By Espen Henriksen and Stephen Spear
   Presented by: Espen Henriksen, GSIA, CMU

Session 16: Cities

Date: July 6, 2006
Time: 13:15 - 15:15
Location: Port Alberni
 

Intercity interactions: evidence from the US
By Andrea R. Lamorgese, Research Department, Banca d'Italia Gianmarco I.P. Ottaviano, U. Bologna, CEPR, FEEM
   Presented by: Andrea Lamorgese, public
 

The Costs of Remoteness: Evidence from German Division and Reunification
By Stephen Redding, London School of Economics and CEPR Daniel Sturm, University of Munich and CEPR
   Presented by: Stephen Redding,
 

The Dynamics of City Formation: Finance and Governance
By J.V. Henderson, Brown University A.J. Venables, LSE
   Presented by: vernon henderson, economics

Session 17: VARs and Macroeconomics

Date: July 6, 2006
Time: 13:15 - 15:15
Location: Grand Ballroom D
 

Identifying the Role of Labor Markets for Monetary Policy in an Estimated DSGE Model
By Kai Christoffel European Central Bank Keith Kuester Goethe University Frankfurt Tobias Linzert European Central Bank
   Presented by: Kai Christoffel, European Central Bank
 

Productivity Shocks and the Business Cycle: Reconciling Recent VAR Evidence
By James Costain, Bank of Spain Beatriz de-Blas-Perez, Universidad de Navarra
   Presented by: James Costain, Universidad Carlos III de Madrid
 

Model selection in unstable environments
By Raffaella Giacomini UCLA Barbara Rossi Duke University
   Presented by: Barbara Rossi, Duke University
 

Measurement with Minimal Theory
By Ellen McGrattan, Federal Reserve Bank of Minneapolis
   Presented by: Ellen McGrattan, Federal Reserve Bank of Mpls

Session 18: Debt and Bankruptcy

Date: July 6, 2006
Time: 13:15 - 15:15
Location: Parksville
 

The Dynamics of Chapter 13 Bankruptcy
By Hulya Eraslan, Wharton School, University of Pennsylvania Wenli Li, Federal Reserve Bank of Philadelphia Pierre-Daniel Sarte, Federal Reserve Bank of Richmond
   Presented by: Wenli Li, Federal Reserve Bank of Philadelphia
 

Central Counterparties
By Thorsten Koeppl Department of Economics, Queen's University, Kingston (Ontario) Cyril Monnet DG Research, European Central Bank
   Presented by: Thorsten Koeppl, Queen's University
 

Debt Management Under Complete Markets
By Elisa Faraglia (London Business School) Albert Marcet (Institut d'Analisi Economica and Universitat Pompeu Fabra) Andrew Scott (London Business School and CEPR)
   Presented by: Elisa Faraglia, London Business School
 

Interest Rate Swap and Corporate Default
By Urban Jermann, Wharton School at University of Pennsylvania Vivian Z. Yue, New York University
   Presented by: Vivian Zhanwei Yue, New York University

Session 19: Return Predictability

Date: July 6, 2006
Time: 13:15 - 15:15
Location: Junior Ballroom D
 

Predictable returns and asset allocation: Should a skeptical investor time the market?
By Jessica A. Wachter and Missaka Warusawitharana
   Presented by: Jessica Wachter,
 

What Does the Durables Price - Over - the Rental Cost Valuation Ratio Tell Us About Asset Prices?
By Michal Pakos, Tepper School of Business, Carnegie Mellon University, 5000 Forbes Avenue, Pittsburgh PA 15213
   Presented by: Michal Pakos, Tepper School of Business CMU
 

The Empirical Risk-Return Relation: a factor analysis approach
By Sydney Ludvigson (NYU) Serena Ng (Univ. of Michigan)
   Presented by: Serena Ng,
 

Reconciling the Return Predictability Evidence
By Martin Lettau and Stijn Van Nieuwerburgh
   Presented by: Stijn Van Nieuwerburgh, New York University

Session 20: Labor Markets 1

Date: July 6, 2006
Time: 13:15 - 15:15
Location: Port McNeill
 

Understanding Gross Workers Flows Across U.S. States
By Daniele Coen-Pirani (Carnegie Mellon University)
   Presented by: Daniele Coen-Pirani, Carnegie Mellon University
 

Career Choice and Wage Growth
By Ronni Pavan, University of Rochester
   Presented by: Ronni Pavan, University of Rochester
 

Social Preferences and Labor Market Policy
By Trine Filges (SFI) Birthe Larsen (Copenhagen Business School) John Kennes (University of Copenhagen) Torben Tranæs (Rockwool Foundation)
   Presented by: John Kennes, University of Copenhagen
 

Household wealth and entrepreneurship: is there a link?
By Silvia Magri - Bank of Italy
   Presented by: Silvia Magri, Bank of Italy

Session 21: Labor and Development

Date: July 6, 2006
Time: 13:15 - 15:15
Location: Port Hardy
 

A generalized options approach to aggregate migration with an application to US federal states
By Christian Bayer, University of Dortmund Falko Juessen, University of Dortmund
   Presented by: Christian Bayer, University of Dortmund
 

Learning about Oneself: Technology Financing in a Tamil Fishing
By Xavier Gine, The World Bank Stefan Klonner, Cornell University
   Presented by: Xavier Gine, The World Bank
 

Modeling the Effects of Labor Market Reforms in a Developing Economy
By James Albrecht, Georgetown University Lucas Navarro, Queen Mary,University of London Susan Vroman, Georgetown University
   Presented by: Susan Vroman,
 

Life-Cyle Fertility Behavior and Human Capital Accumulation
By George-Levi Gayle and Robert Miller, Tepper School of Business, Carnegie Mellon University
   Presented by: George-Levi Gayle, public

Session 22: Macro Implications of Marriage

Date: July 6, 2006
Time: 13:15 - 15:15
Location: Grand Ballroom A
 

City size and the quality of marriages: Evidence from 3 societies
By Maristella Botticini, Boston University Aloysius Siow, University of Toronto
   Presented by: Aloysius Siow,
 

Women: From Wife to Citizen
By Matthias Doepke, UCLA Michele Tertilt, Stanford University
   Presented by: Michele Tertilt, Stanford University
 

Social Change
By Jeremy Greenwood, University of Rochester Nezih Guner, Pennsylvania State University
   Presented by: Jeremy Greenwood, University of Rochester -- until Summer 2006
 

Gender roles and technological progress
By Stefania Albanesi, Columbia University Claudia Olivetti, Boston University
   Presented by: Claudia Olivetti,

Session 23: Public Policy

Date: July 6, 2006
Time: 15:45 - 17:50
Location: Port Hardy
 

Selective Reductions in Labour Taxation: Labour Market Adjustments and Macroeconomic Performance
By Anna BATYRA* and Henri R. Sneessens** *Tel Aviv University and Catholic University of Louvain **Catholic University of Louvain and Catholic University of Lille
   Presented by: Anna Batyra, IRES/ECON/Catholic University of Louvain
 

Transfers versus Public Investment: The Politics of Intergenerational Redistribution and Growth
By Martin Gonzalez-Eiras, Universidad de San Andres Dirk Niepelt, IIES Stockholm University and Study Center Gerzensee
   Presented by: Martin Gonzalez-Eiras,
 

Health Insurance and Tax Policy
By Karsten Jeske, Sagiri Kitao
   Presented by: Sagiri Kitao, New York University
 

Borrowing Constraints, Parental Altruism and Human Capital Accumulation
By Jorge Soares, Department of Economics, University of Delaware
   Presented by: Jorge Soares, University of Delaware

Session 24: Quantitative Models of Savings with Heterogeneous Agents

Date: July 6, 2006
Time: 15:45 - 17:45
Location: Junior Ballroom C
 

quantifying the inefficiency of the US social insurance system
By mark huggett jaun carlos parra
   Presented by: Mark Huggett, Georgetown University
 

On the Consequences of Demographic Change for International Capital Flows, Rates of Returns to Capital, and the Distribution of Wealth and Welfare
By Dirk Krueger Goethe University Frankfurt, CEPR, CFS, MEA and NBER Alexander Ludwig Universität Manneim and MEA
   Presented by: Alexander Ludwig, Mannheim Research Institute for the Econ
 

On-the-Job Search and Precautionary Savings: Theory and Empirics of Earnings and Wealth Inequality
By Jeremy Lise, Queen's University
   Presented by: Jeremy Lise, Queen's University
 

Differential Mortality, Uncertain Medical Expenses, and the Saving of Elderly Singles
By Mariacristina De Nardi, Eric French, and John Bailey Jones
   Presented by: Mariacristina De Nardi, Federal Reserve bank of Chicago

Session 25: Monetary Theory

Date: July 6, 2006
Time: 15:45 - 17:45
Location: Junior Ballroom D
 

Efficient Propagation of Shocks and the Optimal Return of Money
By Ricardo Cavalcanti, EPGE and University of Toronto Andres Erosa, University of Toronto
   Presented by: Ricardo Cavalcanti, private
 

Endogenously Segmented Market in a Search-Theoretic Model of Monetary Exchange
By Jonathan Chiu (Bank of Canada) Miguel Molico (University of Western Ontario)
   Presented by: Jonathan Chiu, Bank of Canada
 

A model of banknote discounts
By Laurence Ales, Francesca Carapella, Pricila Maziero, Warren Weber
   Presented by: Laurence Ales, University of Minnesota
 

Motelling: A Hotelling Model with Money
By Dean Corbae, University of Texas at Austin Borghan N. Narajabad, University of Texas at Austin
   Presented by: Dean Corbae,

Session 26: Patents, Ideas, and Firms

Date: July 6, 2006
Time: 15:45 - 17:45
Location: Gulf Islands A
 

What are the Gains from Trade in the Market for Patents?
By Carlos J. Serrano Dept. of Economics, University of Toronto
   Presented by: Carlos Serrano, University of Toronto
 

Pricing Patents through Citations
By Fernando Leiva B., University of Iowa
   Presented by: Fernando Leiva Bertran, University of Iowa
 

Are Patents Discouraging Innovation?
By Soma Dey, National University of Singapore
   Presented by: Soma Dey, National University of Singapore
 

Liquidity and the Market for Ideas
By Rafael Silveira, University of Pennsylvania Randall Wright, University of Pennsylvania
   Presented by: Rafael Silveira, University of Pennsylvania

Session 27: Asset Markets and Macroeconomics

Date: July 6, 2006
Time: 15:45 - 17:45
Location: Grand Ballroom D
 

Finite-Life, Private-Information Theory of Unsecured Debt
By Satyajit Chatterjee, FRB Philadelphia Dean Corbae, University of Texas - Austin Victor Rios-Rull, University of Pennsylvania
   Presented by: Satyajit Chatterjee, Federal Reserve Bank of Philadelphia
 

Intertemporal disturbances
By Giorgio Primiceri, Northwestern University Ernst Schaumburg, Northwestern University Andrea Tambalotti, New York Fed
   Presented by: Giorgio Primiceri, Northwestern University
 

Equilibrium Portfolios in the Neoclassical Growth Model
By Emilio Espino University of San Andres, Argentina
   Presented by: Emilio Espino, Universidad Torcuato Di Tella
 

Search in Asset Markets
By Ricardo Lagos Minneapolis Fed and NYU Guillaume Rocheteau Cleveland Fed and University of Pennsylvania
   Presented by: Ricardo Lagos, New York University

Session 28: Labor Markets, Gender, and Crime

Date: July 6, 2006
Time: 15:45 - 17:45
Location: Junior Ballroom A
 

Investment in Schooling and the Marriage Market
By Pierre-Andre Chiappori, Murat Iyigun and Yoram Weiss
   Presented by: Murat Iyigun, University of Colorado
 

divorce and the cognitive achievement of children
By melissa tartari
   Presented by: melissa tartari, private
 

Education and Crime over the Life Cycle
By Giulio Fella Queen Mary, University of London Giovanni Gallipoli University College London
   Presented by: Giulio Fella, Queen Mary, University of London
 

Crime and the Labor Market
By Bryan Englehardt, Guillaume Rocheteau, Peter Rupert
   Presented by: Peter Rupert, public

Session 29: Trade and Growth

Date: July 6, 2006
Time: 15:45 - 17:45
Location: Parksville
 

Optimal Tariffs: The Evidence
By Christian Broda (U Chicago) N. Limao (Maryland) D. Weinstein (Columbia)
   Presented by: David Weinstein,
 

Democracy and Growth Volatility: Exploring the Links
By Partha Chatterjee, National University of Singapore Malik Shukayev, Bank of Canada
   Presented by: Partha Chatterjee, National University of Singapore
 

Trade Integration, Competiton, and the Decline in Exchange-rate Pass-through
By Chris Gust, Federal Reserve Board Sylvain Leduc, Federal Reserve Board Robert Vigfusson, Federal Reserve Board
   Presented by: Robert Vigfusson, Federal Reserve Board
 

Imports and Productivity
By Laszlo Halpern, Institute of Economics Miklos Koren, Federal Reserve Bank of New York Adam Szeidl, UC Berkeley
   Presented by: László Halpern, Institute of Economics of Hungarian Academy of Sciences

Session 30: Business Cycles 1

Date: July 6, 2006
Time: 15:45 - 17:45
Location: Port McNeill
 

Gold rush fever in business cycles
By Paul Beaudry, Fabrice Collard, Franck Portier
   Presented by: Fabrice Collard, CNRS Universite de Toulouse
 

Asset pricing implications for business cycle analysis
By David Backus, Bryan Routledge, and Stanley Zin
   Presented by: David Backus,
 

Liquidity Cycles
By Matteo Iacoviello, Boston College Raoul Minetti, Michigan State University
   Presented by: Raoul Minetti, Michigan State University
 

Business Cycles under Generalized Disappointment Aversion
By Claudio Campanale, Rui Castro and Gian Luca Clementi
   Presented by: Claudio Campanale, University of Alicante

Session 31: Long-Run Perspectives on Growth

Date: July 6, 2006
Time: 15:45 - 17:45
Location: Junior Ballroom B
 

War, resource competition and development
By Nils-Petter Lagerlöf York University
   Presented by: Nils-Petter Lagerlof, York University
 

The Colonial Origins of the Industrial Revolution
By Juan Carlos Cordoba
   Presented by: Juan Cordoba, Rice University
 

Demographic Transition and Industrial Revolution: A Coincidence?
By Oksana Leukhina, UNC - Chapel Hill Michael Bar, San Francisco State U
   Presented by: Oksana Leukhina, UNC - Chapel Hill
 

How Important was the 19th Century Transportation Revolution for U.S. Development?"
By Berthold Herrendorf (Arizona State University) James A. Schmitz Jr. (Federal Reserve Bank of Minneapolis) Arilton Teixeira (Capixaba Research Foundation)
   Presented by: Berthold Herrendorf, Arizona State University

Session 32: New Public Finance

Date: July 6, 2006
Time: 15:45 - 17:45
Location: Grand Ballroom A
 

Markets Versus Governments: Political Economy of Mechanisms
By Daron Acemoglu, MIT Michael Golosov, MIT Oleg Tsyvinski, Harvard
   Presented by: Mike Golosov, MIT
 

Poltically credible taxation
By Christopher Sleet, Carnegie Mellon University Sevin Yeltekin, Carnegie Mellon University
   Presented by: Christopher Sleet, Carnegie Mellon University
 

Dynamic Optimal Taxation: A Robust Analysis
By Narayana Kocherlakota (University of Minnesota) Christopher Phelan (FRB-Minneapolis)
   Presented by: Narayana Kocherlakota, University of Minnesota
 

Ramsey Meets Hosios: The Optimal Capital Tax and Labor Market Efficiency
By David M. Arseneau, Federal Reserve Board Sanjay K. Chugh, Federal Reserve Board
   Presented by: Sanjay Chugh, Federal Reserve Board

Session 33: Models of On the Job Search

Date: July 6, 2006
Time: 15:45 - 17:45
Location: Port Alberni
 

Frictional Wage Inequality: A Puzzle?
By Andreas Hornstein, per Krusell, Gianluca Violante
   Presented by: Giovanni Luca Violante, New York University
 

On-the-job Search, Productivity Shocks, and the Individual Earnings Process
By Fabien Postel-Vinay and Helene Turon
   Presented by: Fabien Postel-Vinay,
 

Identification of Search Models with Initial Condition Problems
By Gadi Barlevy and H. N. Nagaraja
   Presented by: Gadi Barlevy, Federal Reserve Bank of Chicago
 

On the extent of job-to-job transitions
By Éva Nagypál
   Presented by: Eva Nagypal, Northwestern University

Session 34: Two-Sided Matching

Session Chair: jan eeckhout, University of Pennsylvania
Date: July 7, 2006
Time: 10:00 - 12:00
Location: Junior Ballroom C
 

The College Admissions Problem Under Uncertainty
By Hector Chade Arizona State University Greg Lewis and Lones Smith University of Michigan
   Presented by: hector chade,
 

The Eeckhout Condition and the Subgame Perfect Implementation of Stable Matching
By Sang-Chul Suh, Department of Economics, University of Windsor Quan Wen, Department of Economics, Vanderbilt University
   Presented by: Quan Wen, Vanderbilt University
 

Counterfeit $$$
By Elena Quercioli (Bocconi) Lones Smith (Michigan)
   Presented by: Lones Smith, University of Michigan
 

Local Supermodularity and Unique Assortative Matching
By Jan Eeckhout, University of Pennsylvania
   Presented by: jan eeckhout, University of Pennsylvania

Session 35: Inequality and Labor Market Risk

Date: July 7, 2006
Time: 10:00 - 12:00
Location: Junior Ballroom B
 

What Do Labor and Consumption Data Jointly Tell About Labor Income Risk?
By Anthony A Smith, Yale Fatih Guvenen, University of Texas at Austin
   Presented by: Fatih Guvenen, University of Texas at Austin
 

Household Debt and Income Inequality, 1963-2003
By Matteo Iacoviello, Boston College
   Presented by: Matteo Iacoviello, Boston College
 

Cross-National Trends in Earnings Instability and Earnings Inequality
By Mary C. Daly, Federal Reserve Bank of San Francisco Robert G. Valletta, Federal Reserve Bank of San Francisco
   Presented by: Mary Daly,
 

Understanding Wage Inequality: Ben-Porath Meets Skill-Biased Technical Change
By Fatih Guvenen (University of Texas at Austin) Burhanettin Kuruscu (University of Texas at Austin)
   Presented by: Burhanettin Kuruscu, University of Texas at Austin

Session 36: Monetary Policy 1

Date: July 7, 2006
Time: 10:00 - 12:00
Location: Port Hardy
 

The Bank Capital Channel of Monetary Policy
By Skander Van den Heuvel University of Pennsylvania, Wharton
   Presented by: Skander Van den Heuvel, University of Pennsylvania
 

The Dynamic (In)efficiency of Monetary Policy by Committee
By Alessandro Riboni (Univ. of Montreal) Francisco Ruge-Murcia (Univ. of Montreal)
   Presented by: Francisco Ruge-Murcia, University of Montreal
 

Assessing Changes in U.S. Monetary Policy in a Regime-Switching Rational Expectations Model
By Roger E. A. Farmer, UCLA Tao Zha, Federal Reserve Bank of Atlanta Dan Waggoner, Federal Reserve Bank of Atlanta
   Presented by: Roger Farmer,
 

Uncovering the Goodhart's Law: Theory and Evidence
By Yosuke Takeda, Sophia University Atsuko Ueda, Waseda University
   Presented by: Yosuke Takeda, public

Session 37: Debt and Taxes

Date: July 7, 2006
Time: 10:00 - 12:00
Location: Grand Ballroom D
 

Time-Consistent Debt
By Per Krusell, Princeton University Fernando M. Martin, Simon Fraser University José-Víctor Ríos-Rull, University of Pennsylvania
   Presented by: Fernando Martin, Simon Fraser University
 

Optimal Debt Maturity Management
By Hanno Lustig (UCLA) Christopher Sleet (Carnegie Mellon University) Sevin Yeltekin (Carnegie Mellon University and Northwestern University)
   Presented by: Sevin Yeltekin, Carnegie Mellon University and Northwestern University
 

Optimal Pre-Announced Tax Reforms Under Valuable And Productive Government Spending
By Mathias Trabandt Humboldt University Berlin
   Presented by: Mathias Trabandt, Humboldt University Berlin
 

Redistribution, Taxes, and the Median Voter
By Marco Bassetto, Federal Reserve Bank of Chicago Jess Benhabib, New York University
   Presented by: Marco Bassetto, Federal Reserve Bank of Chicago

Session 38: Quantitative Macroeconomics

Date: July 7, 2006
Time: 10:00 - 12:00
Location: Gulf Islands A
 

The Marginal Worker and the Aggregate Elasticity of Labor Supply
By Francois Gourio, Boston University Pierre-Alexandre Noual, University of Chicago
   Presented by: Pierre-Alexandre Noual, University of Chicago
 

The role of debt and equity finance over the business cycle
By Francisco Covas, Bank of Canada Wouter Denhaan, London Business School
   Presented by: Wouter Den Haan, London School of Economics
 

Secular Movements in U.S. Saving and Consumption
By Kaiji Chen,Department of Economics, University of Oslo Ayse Imrohoroglu,Marshall School of Business, University of Southern California Selahattin Imrohoroglu, Marshall School of Business, University of Southern California
   Presented by: Kaiji Chen, University of Oslo
 

Relative Stagnation alla Turca
By Tasso Adamopoulos, York University Ahmet Akyol, York University
   Presented by: Ahmet Akyol, York University

Session 39: Idiosyncratic Risk and Aggregate Outcomes

Date: July 7, 2006
Time: 10:00 - 12:00
Location: Junior Ballroom A
 

Polarization under incomplete markets and endogenous labor productivity
By Albert Marcet, IAE, CREI, and CEPR Francesc Obiols-Homs, UAB
   Presented by: Francesc Obiols-Homs, public
 

Allocation of Individual Risks in a Market Economy
By Pamela Labadie George Washington University
   Presented by: Pamela Labadie, George Washington University
 

Production, Collateral and the Risk-Free Rate
By Geoffrey Dunbar
   Presented by: Geoffrey Dunbar, Simon Fraser University
 

Politico economic consequences of rising income inequality
By Dean Corbae (University of Texas at Austin) Pablo D'Erasmo(University of Texas at Austin) Burhanettin Kuruscu (University of Texas at Austin)
   Presented by: Pablo D'Erasmo, University of Texas at Austin

Session 40: Dynamic Models, Risk, and Financial Markets

Date: July 7, 2006
Time: 10:00 - 12:00
Location: Parksville
 

Non-ergodic Behavior in a Financial Market with Interacting Investors
By Ulrich Horst, University of British Columbia Jan Wezelburger, Bielefeld University
   Presented by: Ulrich Horst,
 

Collateralized Borrowing And Life-Cycle Portfolio Choice
By Paul Willen, Federal Reserve Bank of Boston Felix Kubler, University of Mannheim
   Presented by: Paul Willen,
 

Herd Behavior and Fat Tails in Financial Markets
By Makoto Nirei, Utah State University
   Presented by: Makoto Nirei, Utah State University
 

Growth-Indexed Bonds in Emerging Markets: a Quantitative Approach
By Andre Faria - IMF, Research Department
   Presented by: Andre Faria, IMF

Session 41: Prices and Exchange Rates

Date: July 7, 2006
Time: 10:00 - 12:00
Location: Port McNeill
 

Price Setting during Low and High Inflation: Evidence from Mexico
By Northwestern University
   Presented by: Etienne Gagnon, Northwestern University
 

Prices and market shares in state-dependent pricing models
By Ariel Burstein (UCLA) Christian Hellwig (UCLA)
   Presented by: Ariel Burstein, UCLA
 

A Framework for Identifying the Sources of Local-Currency Price Stability with an Empirical Application
By Pinelopi Koujianou Goldberg, Department of Economics, Yale University and NBER Rebecca Hellerstein, Research Department, Federal Reserve Bank of New York
   Presented by: Rebecca Hellerstein, Federal Reserve Bank of New York
 

Industry Restructuring, Mark-ups, and Exchange Rate Pass-Through
By Beverly Lapham, Queen's University Danny Leung, Bank of Canada
   Presented by: Beverly Lapham,

Session 42: Firm Dynamics

Date: July 7, 2006
Time: 10:00 - 12:00
Location: Port Alberni
 

Industry Dynamics with Barriers to Entry
By Jaap H. Abbring, Free University Amsterdam Jeffrey R. Campbell, Federal Reserve Bank of Chicago
   Presented by: Jeffrey Campbell,
 

The Response of Prices, Sales, and Output to Temporary Changes in Demand
By Adam Copeland and George Hall
   Presented by: George Hall,
 

Financial Frictions and the Persistence of History
By Francisco J. Buera, Northwestern Yongseok Shin, University of Wisconsin-Madison
   Presented by: Yongseok Shin, University of Wisconsin
 

Firm Dynamics with Infrequent Adjustment and Learning
By Eugenio Pinto, University of Maryland
   Presented by: Eugenio Pinto, University of Maryland

Session 43: The Economics of Mortality Reductions

Session Chair: Rodrigo Soares, University of Maryland
Date: July 7, 2006
Time: 10:00 - 12:00
Location: Junior Ballroom D
 

International Medical Technology Diffusion
By Chris Papageorgiou, Andreas Savvides, Marios Zachariadis
   Presented by: Chris Papageorgiou, Lousiana State University
 

Death and Development
By Peter Lorentzen, John McMillan, and Romain Wacziarg
   Presented by: Peter Lorentzen, Stanford University
 

Mortality Change, the Uncertainty Effect, and Retirement
By Sebnem Kalemli-Ozcan and David Weil
   Presented by: Sebnem Kalemli-Ozcan,
 

The Demographic Transition and the Sexual Division of Labor
By Bruno Falcão and Rodrigo Soares
   Presented by: Rodrigo Soares, University of Maryland

Session 44: Structural Transformation and Outcomes

Date: July 7, 2006
Time: 10:00 - 12:00
Location: Grand Ballroom A
 

Accommodating Emerging Giants
By John Coleman
   Presented by: Wilbur Coleman, Duke University
 

Trends in Hours and Economic Growth
By Rachel Ngai and Christopher Pissarides
   Presented by: Rachel Ngai, london school of economics
 

The Role of the Structural Transformation in Aggregate Productivity
By Margarida Duarte, Federal Reserve Bank of Richmond Diego Restuccia, Federal Reserve Bank of Richmond and University of Toronto
   Presented by: Diego Restuccia, University of Toronto
 

Structural Transformation and the Labor Market
By Richard Rogerson Arizona State University
   Presented by: Richard Rogerson,

Session 45: Optimal Taxation of Risky Capital and Estates with Private Information

Date: July 7, 2006
Time: 13:15 - 15:15
Location: Junior Ballroom C
 

Optimal Wealth Taxes with Risky Human Capital
By Borys Grochulski and Tomasz Piskorski
   Presented by: Tomasz Piskorski, NYU
 

optimal taxation of entrepreneurial capital with private information
By stefania albanesi
   Presented by: Stefania Albanesi, Columbia
 

Capital Taxation
By Emannauel Farhi, MIT Ivan Werning, MIT
   Presented by: Ivan Werning, Massachusetts Institute of Technology
 

Uninsured Idiosyncratic Investment Risk: Positive and Normative Implications
By George-Marios Angeletos, MIT and NBER
   Presented by: George-Marios Angeletos,

Session 46: The Pricing of Aggregate and Idiosyncratic Risk

Date: July 7, 2006
Time: 13:15 - 15:15
Location: Grand Ballroom D
 

Welfare Costs, Long Run Consumption Risk, and a Production Economy.
By Mariano M. Croce, Econ Dep-NYU
   Presented by: mariano croce, nyu
 

Financial Leverage Does Not Cause the Leverage Effect
By A. Cevdet Aydemir, Lehman Brothers Michael Gallmeyer, Mays Business School Burton Hollifield, Tepper School of Business
   Presented by: Michael Gallmeyer, Texas A&M University
 

Firms' Heterogeneous Sensitivities to the Business Cycle, and the Cross-Section of Expected Returns
By Francois Gourio, Boston University
   Presented by: Francois Gourio, Boston University

Session 47: Information and Technology Choice

Date: July 7, 2006
Time: 13:15 - 15:15
Location: Junior Ballroom D
 

Learning by Matching
By Manuel Amador, Stanford GSB Pierre-Olivier Weill, NYU Stern School of Business
   Presented by: Pierre-Olivier Weill, New York University
 

Economic Development as Problem Solving
By Yaw Nyarko, NYU
   Presented by: Yaw Nyarko, New York University
 

Knowing what others Know: Coordination motives in information acquisition
By Christian Hellwig, UCLA Laura Veldkamp, NYU
   Presented by: Christian Hellwig, University of California Los Angeles
 

Public vs. Private Offers in the Market for Lemons
By Johannes Hörner Northwestern University Nicolas Vieille HEC Paris
   Presented by: Johannes Hörner, Northwestern University

Session 48: Work and Leisure in the Long Run

Date: July 7, 2006
Time: 13:15 - 15:15
Location: Port Hardy
 

On the Intergenerational Persistence of Work Hours
By Manuel Toledo University of Rochester
   Presented by: Manuel Toledo, University of Rochester
 

Lower-Frequency Macroeconomic Fluctuations: Living Standards and Leisure
By Ben Malin, Stanford University
   Presented by: Ben Malin, Stanford University
 

Longevity and Hours over the Lifetime: Data and Implications
By Hazan, Moshe. Hebrew University and CEPR
   Presented by: Moshe Hazan, Hebrew University
 

A Model of the Trends in Hours
By Guillaume Vandenbroucke, University of Southern California
   Presented by: Guillaume Vandenbroucke, University of Southern California

Session 49: Labor Markets 2

Date: July 7, 2006
Time: 13:15 - 15:15
Location: Gulf Islands A
 

incomplete self-enforcing labor contracts
By Guido Menzio, University of Pennsylvania, Department of Economics; Espen Moen, Norwegian School of Management;
   Presented by: Guido Menzio, University of Pennsylvania
 

Disentangling employment and wage rigidity
By Luigi Guiso, Tor Vergata University Luigi Pistaferri, Stanford University Fabiano Schivardi, Banca d'Italia
   Presented by: Fabiano Schivardi, Bank of Italy
 

How General is Specific Human Capital? Using Mobility Patterns to Study Skill Transferability in the Labor Market
By Uta Schoenberg, University of Rochester Christina Gathmann, Stanford University
   Presented by: Uta Schoenberg,
 

Unemployment Insurance: Isn't Marriage Enough?
By Stephane Pallage (UQAM) Michel Robe (American University) Christian Zimmermann (University of Connecticut)
   Presented by: Christian Zimmermann, University of Connecticut

Session 50: Monetary Policy 2

Date: July 7, 2006
Time: 13:15 - 15:15
Location: Junior Ballroom A
 

Liquidity, Inflation, and Monetary Policy
By Marcus Hagedorn, University of Frankfurt
   Presented by: Marcus Hagedorn, University of Bonn
 

Time-Varying U.S. Inflation Dynamics and the New Keynesian Phillips Curve
By Kevin J. Lansing Federal Reserve Bank of San Francisco
   Presented by: Kevin Lansing, Federal Reserve Bank of San Francisco
 

Optimal monetary policy with imperfect unemployment insurance
By Tomoyuki Nakajima, Kyoto University
   Presented by: Tomoyuki Nakajima,
 

Deflation and Recession in France in the (Seventeen) Twenties
By François R. Velde Federal Reserve Bank of Chicago
   Presented by: Francois Velde, Federal Reserve Bank of Chicago

Session 51: Growth and Development 1

Date: July 7, 2006
Time: 13:15 - 15:15
Location: Port Alberni
 

"Backslanted X" Fertility Dynamics and Macroeconomics
By Yishay D. Maoz Department of Economics University of Haifa
   Presented by: Yishay Maoz, University of Haifa
 

Population Policy through Tradable Procreation Rights
By David de la Croix CORE Axel Gosseries Hoover Chair
   Presented by: David de la Croix, CORE, Univ. cath. Louvain
 

Endogenous Growth through Firm Entry, Exit and Imitation
By Alain Gabler and Omar Licandro European University Institute
   Presented by: Alain Gabler, European University Institute
 

Making Financial Markets: Contract Enforcement and the Emergence of Tradable Assets in Late Medieval Europe
By Lars Boerner Humboldt University of Berlin Albrecht Ritschl Univ. of Pennsylvania and Humboldt Univ. Berlin
   Presented by: Albrecht Ritschl, Humboldt-University of Berlin

Session 52: Bank of Canada Session on Capital and Credit Markets

Date: July 7, 2006
Time: 13:15 - 15:15
Location: Port McNeill
 

The Return to Capital and the Business Cycle
By Paul Gomme, Federal Reserve Bank of Cleveland B. Ravikumar, University of Iowa Peter Rupert, Federal Reserve Bank of Cleveland
   Presented by: B Ravikumar, private
 

technology adoption under uncertainty in general equilibrium
By Julien Hugonnier University of Lausanne and FAME Erwan Morellec University of Lausanne and FAME Aude Pommeret University of Lausanne and FAME
   Presented by: Aude Pommeret-Lelievre, University of Lausanne
 

Credit Market and Macroeconomic Volatility
By Caterina Mendicino, Stockholm School of Economics
   Presented by: Caterina Mendicino, Stockholm School of Economics
 

Financial Frictions, Investment and Tobin's q
By Guido Lorenzoni (MIT and NBER) Karl Walentin (Bank of Sweden)
   Presented by: Karl Walentin, Sveriges Riksbank (Bank of Sweden)

Session 53: Government and Market Failure

Date: July 7, 2006
Time: 13:15 - 15:15
Location: Junior Ballroom B
 

Government Intervention as an Optimal Response to Government (not Market!) Failure
By Alberto Bisin, NYU Adriano Rampini, Northwestern
   Presented by: Adriano Rampini, Northwestern University
 

The political economy of labor subsidies
By Marina Azzimonti (University of Iowa), Eva de Francisco (CBO) and Per Krusell (Princeton University)
   Presented by: Marina Azzimonti Renzo, University of Iowa
 

Fiscal Policy Under Weak Political Institutions
By Pierre Yared, MIT
   Presented by: Pierre Yared, Massachusetts Institute of Technology

Session 54: Estimation of Dynamic General Equilibrium Models with Heterogeneity

Date: July 7, 2006
Time: 13:15 - 15:15
Location: Grand Ballroom A
 

The Rate of Learning-by-Doing: Estimates from a Search-Matching Model
By Julien Prat Vienna University
   Presented by: Julien Prat, Vienna University
 

Another Look at the Identification of Dynamic Discrete Decision Processes: With an Application to Retirement Behavior
By Victor Aguirregabiria (Boston University)
   Presented by: Victor Aguirregabiria, Boston University
 

A Feasible Equilibrium Search Model of Individual Wage Dynamics with Experience Accumulation
By Jesper Bager Arhus Univ. Francois Fontaine Univ of Strasbourg Fabien Postel-Vinay Bristol Universty Jean-Marc Robin Sorbonne and UCL
   Presented by: Jean-Marc Robin,

Session 55: International Capital Flows

Date: July 7, 2006
Time: 13:15 - 15:15
Location: Parksville
 

Financial Contagion and Attention Allocation
By Jordi Mondria, Princeton University
   Presented by: Jordi Mondria, public
 

Asymmetric Information and the Lack of International Portfolio
By Juan Carlos Hatchondo, Federal Reserve Bank of Richmond
   Presented by: Juan Hatchondo, Federal Reserve Bank of Richmond
 

Could capital gains smooth a current account rebalancing?
By Michele Cavallo, Federal Reserve Bank of San Francisco Cedric Tille, Federal Reserve Bank of New York
   Presented by: Cedric Tille,
 

Foreign Direct Investment, Financial Markets and Economic
By Laura Alfaro, Harvard Business School Areendam Chanda, Louisiana State University, Sebnem Kalemli-Ozcan, University of Houston, Selin Sayek, Bilkent University.
   Presented by: Laura Alfaro, Harvard Business School

Session 56: International Business Cycles

Date: July 7, 2006
Time: 15:45 - 17:45
Location: Port Hardy
 

Net Exports, Consumption Volatility and International Real Business Cycle Models
By Andrea Raffo Federal Reserve Bank, Kansas City
   Presented by: Andrea Raffo, Federal Reserve Bank, Kansas City
 

Imported Capital Goods and Open Economy Business Cycles
By Reinout De Bock, Northwestern University
   Presented by: Reinout De Bock, Northwestern University
 

``News" Shocks in International Business Cycles
By Martial Dupaigne, University of Toulouse Franck Portier, University of Toulouse
   Presented by: Franck Portier, Universite de Toulouse
 

Explaning the Correlation Between Output and Volatility \\ in a Model of International Risk-Sharing \\ and Limited Commitment
By Pietro Reichlin LUISS G. Carli
   Presented by: Pietro Reichlin, LUISS G. Carli

Session 57: Measurement and Empirical Modeling of Business Cycles

Date: July 7, 2006
Time: 15:45 - 17:45
Location: Junior Ballroom D
 

Business cycle accounting for the Japanese economy
By Keiichiro Kobayashi, Research Institute of Economy, Trade and Industry Masaru Inaba, University of Tokyo
   Presented by: Keiichiro Kobayashi, RIETI
 

Learning, Expectations and the Business Cycle
By Stefano Eusepi, Federal Reserve Bank of New York Stefania D'Amico, Board of Governors
   Presented by: Stefano Eusepi, Fedral Reserve Bank of New York
 

measuring unemployment composition over the cycle
By Alessandro Barbarino The University of Chicago and Duke University Ronni Pavan University of Rochester
   Presented by: Alessandro Barbarino, private
 

Bench Mark Revisions and the U.S. Personal Saving Rate
By Leonard Nakamura, Federal Reserve Bank of Philadelphia Tom Stark, Federal Reserve Bank of Philadelphia
   Presented by: Leonard Nakamura,

Session 58: Hours and Unemployment

Date: July 7, 2006
Time: 15:45 - 17:45
Location: Grand Ballroom A
 

Why Did U.S. Market Hours Boom in the 1990s?
By Ellen R. McGrattan and Edward C. Prescott, Arizona State University and the Federal Reserve Bank of Minneapolis
   Presented by: Edward Prescott,
 

On Flexibity and Productivity
By Bart Hobijn, Federal Reserve Bank of New York Aysegul Sahin, Federal Reserve Bank of New York
   Presented by: Aysegul Sahin, Federal Reserve Bank of New York
 

The Trend in Retirement
By Karen A. Kopecky, University of Rochester
   Presented by: Karen Kopecky, University of Rochester
 

Indivisible Labor and Its Supply Elasticity: Do Taxes Explain European Employment?
By Lars Ljungqvist, Stockholm School of Economics Thomas J. Sargent, New York University
   Presented by: LARS LJUNGQVIST,

Session 59: Housing

Date: July 7, 2006
Time: 15:45 - 17:45
Location: Gulf Islands A
 

The Baby Boom: Predictability in House Prices and Interest Rates
By Robert F. Martin, Federal Reserve Board
   Presented by: Robert Martin, Federal Reserve Board
 

Consumption, wealth, and expected asset returns in the United States. Implications of housing wealth and housing consumption
By Andrea Finicelli, Bank of Italy
   Presented by: Andrea Finicelli, Bank of Italy
 

House price fluctuations and residential sorting
By Markus Haavio Department of Economics, Helsinki School of Economics Heikki Kauppi Department of Economics University of Helsinki
   Presented by: Markus Haavio , Helsinki School of Economics

Session 60: Pricing

Date: July 7, 2006
Time: 15:45 - 17:45
Location: Junior Ballroom C
 

Do Switching Costs Make Markets Less Competitive?
By Jean-Pierre Dube, University of Chicago, GSB Guenter J. Hitsch, University of Chicago, GSB Peter Rossi, University of Chicago, GSB
   Presented by: Guenter Hitsch, University of Chicago
 

Individual Wage Bargaining and Business Cycles
By Monique Ebell, University of Pennsylvania and Humboldt-University of Berlin
   Presented by: Monique Ebell, Univ. of Pennsylvania and Humboldt-Univ
 

Real Price and Wage Rigidities in a Model with Matching Frictions
By Keith Kuester, Goethe University Frankfurt
   Presented by: Keith Kuester, Goethe-University Frankfurt
 

Income dispersion, asymmetric information and fluctuations in market efficiency
By Chris Edmond, NYU Stern Laura Veldkamp, NYU Stern
   Presented by: Chris Edmond, New York University

Session 61: Sectoral Heterogeneity and Economic Development

Date: July 7, 2006
Time: 15:45 - 17:45
Location: Junior Ballroom A
 

Intra- and Inter-sectoral Knowledge Spillovers and TFP Growth Rates
By Núria Quella, Banco de México
   Presented by: Núria Quella, Banco de Mexico
 

The Role of Education in Economic Growth through the Sectoral Reallocation of Labor
By Soohyung Lee Stanford University
   Presented by: Soohyung Lee, Stanford University
 

Labor's Shares – Aggregate and Industry:Accounting for Both in a Model of Development with Induced Innovation
By Hernando Zuleta, Instituto Tecnológico Autónomo de México Andrew T. Young, University of Mississippi
   Presented by: Hernando Zuleta, Instituto Tecnologico Autonomo de Mexico
 

Which Sectors Make the Poor Countries so Unproductive?
By Berthold Herrendor Arizona State University Akos Valentinyi University of Southampton
   Presented by: Akos Valentinyi,

Session 62: Dynamic Contracting in Continuous Time

Date: July 7, 2006
Time: 15:45 - 17:45
Location: Grand Ballroom D
 

Local Private-Information Contracts
By Bart Taub University of Illinois
   Presented by: Bart Taub, University of Illinois, Urbana-Champaign
 

Equilibrium Degeneracy and Reputation Effects in Continuous-Time Games
By Eduardo Faingold (Univ of Pennsylvania) Yuliy Sannikov (UC Berkeley)
   Presented by: Eduardo Faingold, University of Pennsylvania
 

Dynamic choices of hyperbolic consumers: the continuous time case.
By Ivar Ekeland, University of British Columbia Lazrak Ali, University of British Columbia
   Presented by: Ali Lazrak, university of british columbia
 

Efficient Allocations in a Dynamic Moral Hazard Economy
By Noah Williams, Princeton University
   Presented by: Noah Williams, Princeton University

Session 63: Trade

Date: July 7, 2006
Time: 15:45 - 17:45
Location: Junior Ballroom B
 

Trade Adjustment and the Composition of Trade
By Christopher Erceg, Luca Guerrieri, Christopher Gust
   Presented by: Luca Guerrieri, Federal Reserve Board
 

Employment Dynamics and Import Competition
By Hale Utar Pennsylvania State University
   Presented by: Hale Utar, Penn State University
 

Measuring the TFP Costs of Barriers to Trade
By Pedro Cavalcanti Ferreira Fundação Getulio Vargas Alberto Trejos INCAE
   Presented by: Pedro Ferreira, Getulio Vargas
 

Distribution Costs and International Business Cycles
By P. Marcelo Oviedo, Iowa State University Rajesh Singh, Iowa State University
   Presented by: Rajesh Singh, Iowa State University

Session 64: Labor Earnings

Date: July 7, 2006
Time: 15:45 - 17:45
Location: Port Alberni
 

Labor Market Complementarity: A Perspective on Inequality and Productivity Dynamics
By Hyeok Jeong, University of Southern California Yong Kim, University of Southern California Iourii Manovskii, University of Pennsylvania
   Presented by: Hyeok Jeong, University of Southern California
 

On-the-Job Search and Labor Market Reallocation
By Murat Tasci, The University of Texas at Austin
   Presented by: Murat Tasci, University of Texas at Austin
 

The Evolution of Labor Earnings Risk in the US Economy
By Flavio Cunha James Heckman
   Presented by: Flavio Cunha, University of Chicago
 

REPUTATION AND CAREER CONCERNS
By Leonardo Martinez, Federal Reserve Bank of Richmond
   Presented by: Leonardo Martinez, Federal Reserve Bank of Richmond

Session 65: International Financial Integration

Date: July 7, 2006
Time: 15:45 - 17:45
Location: Parksville
 

Monetary Policy Rules and Exchange Rates:A Structural VAR Identified by No Arbitrage
By Sen Dong, Columbia University and Lehman Brothers
   Presented by: Sen Dong, Columbia University
 

Can Structural Small Open Economy Models Account for the Influence of Foreign Disturbances?
By Alejandro Justiniano, Board of Governors Bruce Preston, Columbia University
   Presented by: Bruce Preston, Columbia University
 

Fiscal Policy, Inflation Tax and Default Risk in Emerging Economies
By Horacio Sapriza Rutgers University Gabriel Cuadra Banco de Mexico
   Presented by: Jose Cuadra, Banco de Mexico
 

The Valuation Channel of External Adjustment
By Fabio Ghironiy, Boston College Jaewoo Lee, International Monetary Fund Alessandro Rebucci, International Monetary Fund
   Presented by: Alessandro Rebucci, International Monetary Fund

Session 66: Bank of Canada Session on Money and Credit

Date: July 7, 2006
Time: 15:45 - 17:45
Location: Port McNeill
 

"A Model of Money and Credit, with Application to the Credit Card Debt Puzzle"
By Irina A. Telyukova and Randall Wright
   Presented by: Irina Telyukova, University of Pennsylvania
 

Precautionary Balances and the Velocity of Circulation of Money
By Miquel Faig, University of Toronto Belen Jerez, Carlos III Madrid
   Presented by: Miquel Faig, University of Toronto
 

Optimal Monetary Policy in a Channel System of Interest-Rate Control
By Aleksander Berentsen Department of Economics, University of Basel Cyril Monnet DG-Research, European Central Bank
   Presented by: Aleksander Berentsen,
 

Transactions, Credit, and Central Banking in a Model of Segmented Markets
By Stephen D. Williamson, University of Iowa
   Presented by: Stephen Williamson, University of Iowa

Session 67: Risk Sharing and Welfare

Date: July 8, 2006
Time: 10:00 - 12:00
Location: Parksville
 

On the Provision of Public Goods in Dynamic Contracts: Lack of Commitment
By Christine Hauser, University of Rochester Gokce Uysal, University of Rochester
   Presented by: Christine Hauser, University of Rochester
 

Income Risk and Household Debt with Endogenous Collateral Constraints
By Thomas Hintermaier, IHS, Vienna, Austria Winfried Koeniger, IZA, Bonn, Germany
   Presented by: Thomas Hintermaier, Institute for Advanced Studies (IHS)
 

Informational Assumptions on Income Processes and Consumption in the Buffer Stock Model of Savings
By Dmytro Hryshko
   Presented by: Dmytro Hryshko, University of Houston
 

Testing Efficient Risk Sharing with Heterogeneous Risk Preferences: Semi-parametric Tests with an Application to Village Economies
By Maurizio Mazzocco, University of Wisconsin-Madison Shiv Saini, University of Wisconsin-Madison
   Presented by: Maurizio Mazzocco, University of Wisconsin-Madison

Session 68: Aggregate Implications of Labor Market Frictions

Date: July 8, 2006
Time: 10:00 - 12:00
Location: Port Hardy
 

The Employment (and Output) of Nations: Theory and Policy Implications
By Pietro Peretto, Department of Economics, Duke University
   Presented by: Pietro Peretto,
 

Capital Tax and Minimum Wage: Implications for the Dispersion of Wages
By Dr. Alok Kumar, Department of Economics, University of Victoria, BC. Canada
   Presented by: Alok Kumar, University of Victoria
 

Flat-Tax Reform with Occupational Choice
By Radim Bohacek (CERGE-EI) Jozef Zubricky (CERGE-EI)
   Presented by: Radim Bohacek, CERGE-EI
 

Between-Firm Redistribution of Profit in Competitive Industries: Why Labor Market Policies May Not Work
By Galina Vereshchagina (Univ. of Iowa)
   Presented by: Galina Vereshchagina, University of Iowa

Session 69: Entrepreneurs

Date: July 8, 2006
Time: 10:00 - 12:00
Location: Junior Ballroom C
 

Why Has CEO Pay Increased So Much?
By Xavier Gabaix, MIT Augustin Landier, NYU
   Presented by: Xavier Gabaix,
 

Entrepreneurial wealth accumulation in equilibrium: collateral constraints
By Irasema Alonso, Yale University
   Presented by: Irasema Alonso, Yale University
 

Paying to Make a Difference: Executive Compensation and Product Dynamics
By Antonio Falato, Department of Finance, R.H. Smith School of Business, University of Maryland
   Presented by: Antonio Falato, HEC Montréal

Session 70: Applications of Dynamic Models in IO

Date: July 8, 2006
Time: 10:00 - 12:00
Location: Junior Ballroom D
 

The Costs of Environmental Regulation in a Concentrated Industry
By Stephen Ryan
   Presented by: Stephen Ryan, MIT
 

The Diffusion of Wal-Mart and Economies of Density
By Thomas J. Holmes
   Presented by: Thomas Holmes, University of Minnesota
 

Production Targets
By Guillermo Caruana and Liran Einav
   Presented by: Liran Einav, Stanford University
 

Markov Perfect Industry Dynamics with Many Firms
By Gabriel Weintraub, Lanier Benkard, Benjamin Van Roy
   Presented by: Lanier Benkard,

Session 71: Families and the Macroeconomy

Date: July 8, 2006
Time: 10:00 - 12:00
Location: Grand Ballroom A
 

Taxation, Aggregates and Two-Person Households
By Nezih Guner Penn State Remzi Kaygusuz Penn State Gustavo Ventura Penn State
   Presented by: Gustavo Ventura, Pennsylvania State University
 

Why are Married Men Working So Much?
By John Knowles Department of Economics, University of Pennsylvania
   Presented by: John Knowles,
 

Valuing Lost Home Production of Dual Earner Households
By Christopher House, University of Michigan John Laitner, University of Michigan Dmitriy Stolyarov, University of Michigan
   Presented by: Dmitriy Stolyarov, University of Michigan
 

Overlapping Generations Models of an Age-Group Society: The Rendille of Northern Kenya
By Merwan H. Engineer (University of Victoria) Ming Kang (University of Victoria) Eric Roth (University of Victoria) Linda Welling (University of Victoria)
   Presented by: Merwan Engineer,

Session 72: Growth and Development 2

Date: July 8, 2006
Time: 10:00 - 12:00
Location: Gulf Islands A
 

Aid Effectiveness and Limited Enforceable Conditionality
By Almuth Scholl, Humboldt University Berlin
   Presented by: Almuth Scholl, Humboldt University Berlin
 

Individuals and Institutions: Evidence from International Migrants in the U.S.
By Anna Paulson Federal Reserve Bank of Chicago Una Okonkwo Osili Indiana University Purdue University Indianapolis
   Presented by: Anna Paulson, Federal Reserve Bank of Chicago
 

OLIGARCHIC PROPERTY RIGHTS AND THE TRANSITION TO A MARKET ECONOMY IN RUSSIA
By Serguey Braguinsky State University of New York at Buffalo Roger Myerson University of Chicago
   Presented by: Serguey Braguinsky,
 

IQ in the Ramsey Model: A Naive Calibration
By Garett Jones Southern Illinois University Edwardsville
   Presented by: Garett Jones, Southern Illinois University

Session 73: Trade, Volatility and Productivity

Date: July 8, 2006
Time: 10:00 - 12:00
Location: Port Alberni
 

Openness, Volatility and the Risk Content of Exports
By Julian di Giovanni (IMF) Andrei A. Levchenko (IMF)
   Presented by: Julian di Giovanni, International Monetary Fund
 

The Q-Theory of Mergers: International and Cross-Border Evidence
By Peter L. Rousseau Vanderbilt University
   Presented by: Peter Rousseau,
 

Trade Costs, Limited Enforcement and Risk Sharing: A Joint Test
By Doireann Fitzgerald, UC-Santa Cruz
   Presented by: Doireann Fitzgerald, University of California, Santa Cruz
 

Reevaluating the Evidence on Trade and Productivity
By Kim J. Ruhl Univeristy of Texas at Austin
   Presented by: Kim Ruhl, University of Texas Austin

Session 74: Monetary Search Models

Date: July 8, 2006
Time: 10:00 - 12:00
Location: Junior Ballroom A
 

Search, Market Power, and Inflation Dynamics
By Allen Head, Queen's University Beverly Lapham, Queen's University
   Presented by: Allen Head, Queen's University
 

Payments network in a search model of money
By Antoine Martin, Federal Reserve Bank of New York Michael Orlando, Federal Reserve Bank of Kansas City David Skeie, Federal Reserve Bank of New York
   Presented by: Antoine Martin, Federal Reserve Bank of New York
 

General Equilibrium with NonConvexities, Sunspots and Money
By Guillaume Rocheteau, Cleveland Fed Peter Rupert, Cleveland Fed Karl Shell, Cornell University Randall Wright, University of Pennsylvania
   Presented by: Guillaume Rocheteau, public
 

Monetary Exchange with Multilateral Matching
By Benoit Julien, Australian Graduate School of Management, John kennes, University of Copenhagen, Ian king, University of Otago
   Presented by: Benoit Julien, Australian Graduate School of Management

Session 75: Perspectives on International Financial Crises

Date: July 8, 2006
Time: 10:00 - 12:00
Location: Grand Ballroom D
 

Fiscal Policy and Macroeconomic Uncertainty in Emerging Markets: The Tale of the Tormented Insurer
By Enrique G. Mendoza, UMD, IMF & NBER P. Marcelo Oviedo, Iowa State
   Presented by: Enrique G. Mendoza,
 

Sovereign Default and Domestic Banking
By Igor Livshits, Univ. of Western Ontario and CIAR
   Presented by: Igor Livshits,
 

Optimal Fiscal Policy and Sovereign Debt: A signaling model
By Guido Sandleris, Johns Hopkins University
   Presented by: Guido Sandleris, Johns Hopkins University
 

Sovereign debt, default and renegotiation
By Rohan Pitchford, University of Sydney Mark Wright, Minneapolis Fed and Stanford University
   Presented by: Mark Wright, Stanford University

Session 76: Job Creation and Job Destruction

Date: July 8, 2006
Time: 10:00 - 12:00
Location: Junior Ballroom B
 

Job Creation, Job Destruction and the Life Cycle
By A. CHERON, Gains, Cepremap J-O. HAIRAULT, CES, Paris 1, IZA F. LANGOT, Gains, Cepremap
   Presented by: françois langot, cepremap
 

(Un)Employment Dynamics: The Case of Monetary Policy Shocks
By Helge Braun Northwestern University
   Presented by: Helge Braun, Northwestern University
 

Wage Rigidity and Job Creation
By Christian Haefke, Univ Pompeu Fabra and IAE-CSIC Marcus Sonntag, Universitat Pompeu Fabra Thijs van Rens, CREI and Universitat Pompeu Fabra
   Presented by: Thijs van Rens, CREI and Universitat Pompeu Fabra
 

The Dynamic Beveridge Curve
By Shigeru Fujita, Federal Reserve Bank of Philadelphia Garey Ramey, UC San Diego
   Presented by: Shigeru Fujita, Federal Reserve Bank of Philadelphia

Session 77: Economic Theory

Date: July 8, 2006
Time: 10:00 - 12:00
Location: Port McNeill
 

Reputation and Impermanent Types
By Thomas Wiseman, UT-Austin
   Presented by: Thomas Wiseman, UT Austin
 

Rational Multi-Agent Search
By Andreas Blume, University of Pittsburgh April Franco, University of Iowa Paul Heidhues, University of Bonn
   Presented by: April Franco, University of Iowa
 

Sequential Bargaining in the Screening Model
By Zhiyong Yao UCLA
   Presented by: Zhiyong Yao, UCLA
 

Optimal Capital Taxation under Limited Commitment
By YiLi Chien and JunSang Lee
   Presented by: YiLi Chien, UCLA

Session 78: Learning and Information

Date: July 8, 2006
Time: 13:15 - 15:15
Location: Port Hardy
 

Evolutionary Learning in a Principal-Agent Model
By Jasmina Arifovic, Simon Fraser University, Alexander Karaivanov, Simon Fraser University
   Presented by: Alexander Karaivanov, Simon Fraser University
 

Robustifying Learnability
By Robert J. Tetlow Peter von zur Muehlen
   Presented by: Robert Tetlow, Federal Reserve Board
 

Learning and Model Validation
By In-Koo Cho (University of Illinois Urbana-Champaign) Kenneth Kasa (Simon Fraser University)
   Presented by: In-Koo Cho, University of Illinois
 

Methods for Robust Control
By Richard Dennis, Federal Reserve Bank of San Fran. Kai Leitemo, Norwegian School of Management Ulf Soderstrom, Bocconi University
   Presented by: Richard Dennis, Federal Reserve Bank of San Francisco

Session 79: Bank of Canada Session on Banking and Credit

Date: July 8, 2006
Time: 13:15 - 15:15
Location: Port McNeill
 

Credit and Identity Theft
By Charles M. Kahn and William Roberds
   Presented by: William Roberds,
 

Comparing Financial Systems: A structural Analysis
By Sylvain champonnois Princeton University
   Presented by: sylvain champonnois, Princeton University
 

Banking Policy without Commitment: Suspension of Convertibility Taken Seriously
By Huberto M. Ennis, Research Department, Federal Reserve Bank of Richmond Todd Keister, Research and Statistics Group, Federal Reserve Bank of New York
   Presented by: Huberto Ennis, Federal Reserve Bank of Richmond
 

A Model of Interbank Settlement
By Benjamin Lester, University of Pennsylvania
   Presented by: Benjamin Lester, University of Pennsylvania

Session 80: Investors and Traders

Date: July 8, 2006
Time: 13:15 - 15:15
Location: Gulf Islands A
 

Strategic Trading with Market Closures
By Alex Boulatov and Dmitry Livdan
   Presented by: Dmitry Livdan, public
 

Why do Wealthy Investors have a Higher Return on their Stocks?
By Yosef Bonaparte the University of Texas
   Presented by: Yosef Bonaparte, University of Texas @ Austin
 

What Do Outside Directors Know? Evidence From Outsider Trading
By Enrichetta Ravina, New York University Paola Sapienza, Northwestern University, NBER and CEPR
   Presented by: Enrichetta Ravina, Stern NYU
 

Leverage Choice and Credit Spread Dynamics when Managers Risk Shift
By Murray Carlson, UBC Ali Lazrak, UBC
   Presented by: Murray Carlson, University of British Columbia

Session 81: Financial Markets, Monetary Policy, and Exchange Rates

Date: July 8, 2006
Time: 13:15 - 15:15
Location: Junior Ballroom A
 

Sustainable Monetary Policy and Expectations
By Roc Armenter, Federal Reserve Bank of New York
   Presented by: Roc Armenter, Federal Reserve Bank of New York
 

Stock market optimism and participation cost: a mean-variance estimation
By Andrea Tiseno, Banca d’Italia Monica Paiella, Banca d’Italia
   Presented by: Andrea Tiseno, public
 

Expectations and Exchange Rate Dynamics: A State-Dependent Pricing Approach
By Anthony Landry Federal Reserve Bank of Dallas
   Presented by: Anthony Landry, Federal Reserve Bank of Dallas
 

A Habit-Based Explanation of the Exchange Rate Risk Premium
By Adrien Verdelhan, Boston University and Bank of France.
   Presented by: Adrien Verdelhan, Boston University

Session 82: Labor Search 2

Date: July 8, 2006
Time: 13:15 - 15:15
Location: Grand Ballroom D
 

Equilibrium Wage Dispersion: An Example
By Damien Gaumont, Paris II & ERMES Martin Schindler, IMF Randall Wright, UPENN
   Presented by: Martin Schindler, public
 

Re-entitlement Effects with Duration Dependent Unemployment Insurance in a Stochastic Matching Equilibrium
By Melvyn Coles, UAB, Barcelona, Spain Adrian Masters, SUNY Albany, Albany, NY, USA
   Presented by: Adrian Masters,
 

On the Cyclicality of Labor Market Mismatch and Aggregate Employment Flows
By Kenneth Beauchemin, University at Albany, SUNY Murat Tasci, University of Texas at Austin
   Presented by: Kenneth Beauchemin, public
 

Stock-Flow Matching Model: A Quantitative Analysis
By Robert Shimer, University of Chicago
   Presented by: Robert Shimer, University of Chicago

Session 83: Sovereign Debt and Debt Structure

Date: July 8, 2006
Time: 13:15 - 15:15
Location: Junior Ballroom C
 

Debt Dilution and Maturity Structure of Sovereign Bonds
By Ran Bi, University of Maryland, College Park Econometric Society
   Presented by: Ran Bi, University of Maryland
 

Default, Settlement, and Repayment History: A Unified Model of Sovereign Debt
By Irani Arraiz, University of Maryland
   Presented by: Irani Arraiz, University of Maryland
 

Debt and Maturity without Commitment
By Dirk Niepelt, IIES Stockholm University
   Presented by: Dirk Niepelt,
 

Why Do Emerging Economies Borrow Short Term?
By Fernando Broner (CREI, UPF) Guido Lorenzoni (MIT) Sergio Schmuckler (World Bank)
   Presented by: Guido Lorenzoni, MIT

Session 84: Savings, Investment, and Business Cycles

Date: July 8, 2006
Time: 13:15 - 15:15
Location: Grand Ballroom A
 

Investment Options and the Business Cycle
By Boyan Jovanovic
   Presented by: Boyan Jovanovic, New York University
 

Lumpy Investment in Dynamic General Equilibrium
By Bachmann, Ruediger, Yale University Caballero, Ricardo, MIT and NBER Engel, Eduardo, Yale University abd NBER
   Presented by: Rudiger Bachmann, Yale University
 

Idiosyncratic Shocks and the Role of Nonconvexities in Plant and Aggregate Investment Dynamics
By Aubhik Khan, Federal Reserve Bank of Philadelphia Julia K. Thomas, University of Minnesota
   Presented by: Julia Thomas, University of Minnesota
 

Credit Market Frictions with Costly Capital Reallocation as a Propagation Mechanism
By Andre Kurmann (UQAM) Nicolas Petrosky-Nadeau (UQAM)
   Presented by: Andre Kurmann, UQAM

Session 85: Cross-Country Income Differences

Date: July 8, 2006
Time: 13:15 - 15:15
Location: Parksville
 

S-Shaped Transition and Catapult Effects
By Yong Kim, University of Southern California Hyeok Jeong, University of Southern California
   Presented by: Yong Kim, University Southern California
 

Transportation Costs, Agricultural Productivity and Cross-Country Income Differences
By Tasso Adamopoulos, York University
   Presented by: Tasso Adamopoulos, York University
 

Endogenous Productivity and Development Accounting
By Roc Armenter, FRB New York Amartya Lahiri, UBC
   Presented by: Amartya Lahiri, University of British Columbia
 

Measuring the Miracle: Market Imperfections and Asia's Growth Experience
By John Fernald Federal Reserve Bank of San Francisco Brent Neiman Harvard University
   Presented by: John Fernald, Federal Reserve Bank of San Francisco

Session 86: Information Frictions and Macroeconomic Fluctuations

Date: July 8, 2006
Time: 13:15 - 15:15
Location: Junior Ballroom D
 

Empirical evidence on models of rational inattention
By Peter J. Klenow and Jonathan L. Willis
   Presented by: Jonathan Willis, Federal Reserve Bank of Kansas City
 

An Information-Based Explanation for Industry Comovement
By Laura Veldkamp, NYU Stern Justin Wolfers, Wharton
   Presented by: Laura Veldkamp, New York University
 

Can News About the Future Drive the Business Cycle?
By Nir Jaimovich and Sergio Rebelo
   Presented by: Nir Jaimovich, UCSD
 

Asymmetric Information and Employment Fluctuations
By Bjoern Bruegemann, Yale University Giuseppe Moscarini, Yale University
   Presented by: Bjorn Bruegemann,

Session 87: International Capital Flows and the Current Account

Date: July 8, 2006
Time: 13:15 - 15:15
Location: Junior Ballroom B
 

Financial Integration and International Risk Sharing
By Yan Bai, Arizona State University Jing Zhang, University of Michigan
   Presented by: Jing Zhang, public
 

International Capital Flows Returns and World Financial Integration
By Martin D D Evans and Viktoria Hnatkovska
   Presented by: Viktoria Hnatkovska, Georgetown University
 

Do trade costs in goods market lead to home bias in equities?
By Nicolas Coeurdacier (PSE)
   Presented by: Nicolas Coeurdacier, public
 

An Equilibrium Model of Global Imbalances and Low Interest Rates
By Ricardo J. Caballero, MIT Emmanuel Farhi, MIT Pierre-Olivier Gourinchas, UC Berkeley
   Presented by: Emmanuel Farhi, Massachusetts Institute of Technology

Session 88: Health and Population

Date: July 8, 2006
Time: 13:15 - 15:15
Location: Port Alberni
 

The Output Effects of Employer-Based Health Insurance
By Jennifer Platania, Elon University Stephen DeLoach, Elon University
   Presented by: Jennifer Platania, private
 

Medical Expenditure Puzzle
By Xiaoshu Han University of Texas at Austin
   Presented by: xiaoshu han, UT
 

Health, Development, and the Demographic Transition
By Matteo Cervellati, University of Bologna Uwe Sunde, IZA, Bonn, University of Bonn
   Presented by: Uwe Sunde,
 

The macroeconomics of obesity
By Pere Gomis Porqueras University of Miami Adrian Peralta-Alva University of Miami
   Presented by: Adrian Peralta-Alva, University of Miami

Session 89: Innovation and Technological Change

Date: July 8, 2006
Time: 15:45 - 17:45
Location: Junior Ballroom C
 

Technology Innovation and Market Turbulence: A Dotcom Example
By Zhu Wang, Federal Reserve Bank of Kansas City
   Presented by: Zhu Wang, Federal Reserve Bank of Kansas City
 

A Dynamic Analysis of Cooperative Research in the Semiconductor Industry
By Minjae Song, Georgia Institute of Technology
   Presented by: Minjae Song, Georgia Institute of Technology
 

Market Structure and the Direction of Technological Change
By Matthew Mitchell (Univ. of Iowa) Andy Skrzypacz (Stanford GSB)
   Presented by: Matthew Mitchell, University of Iowa
 

Innovation and Financial Markets
By Luís M. B. Cabral New York University Ana Fernandes University of Bern
   Presented by: Ana Fernandes, University of Bern

Session 90: Productivity, R&D, and Growth

Date: July 8, 2006
Time: 15:45 - 17:45
Location: Junior Ballroom D
 

The Democratization of U.S. Research and Development after 1980
By Robert M. Hunt, Federal Reserve Bank of Philadelphia Leonard I. Nakamura, Federal Reserve Bank of Philadelphia
   Presented by: Robert Hunt, Federal Reserve Bank of Philadelphia
 

The Power of Print
By Michelle Alexopoulos Department of Economics University of Toronto
   Presented by: Michelle Alexopoulos, University of Toronto
 

Adoption Lags, Implementation Gaps, and Economic Growth
By Diego Comin, New York University Bart Hobijn, Federal Reserve Bank of New York
   Presented by: Bart Hobijn, Federal Reserve Bank of New York
 

Market Size, Trade, and the Resistance to the Adoption of Better Technology
By Klaus Desmet Universidad Carlos III and CEPR Stephen L. Parente University of Illinois at Urbana Champaign
   Presented by: Klaus Desmet, Universidad Carlos III

Session 91: Trade Policy

Date: July 8, 2006
Time: 15:45 - 17:45
Location: Port Hardy
 

Subsidies for FDI: Implications from a Model with Heterogenous Firms
By Davin Chor, Harvard University
   Presented by: Davin Chor, public
 

International Competition, Growth and Optimal R&D Subsidies
By Giammario Impullitti NYU and NSSR
   Presented by: Giammario Impullitti, NYU
 

Free trade agreements and the environment with pre-existing subsidies
By Claustre Bajona, University of Miami David Kelly, University of Miami
   Presented by: Claustre Bajona, University of Miami
 

Demographic Trends, Fiscal Policy and Trade Deficits
By Andrea Ferrero, NYU
   Presented by: Andrea Ferrero, New York University

Session 92: Economic Growth and Economic Policy

Date: July 8, 2006
Time: 15:45 - 17:45
Location: Parksville
 

corruption and openness
By Zvika Neeman, Department of Economics, Boston University and Center for Rationality and Department of Economics, Hebrew University of Jerusalem. Daniele Paserman, Department of Economics, Hebrew University of Jerusalem, and CEPR. Avi Simhon Department of Agricultural Economics, Hebrew University of Jerusalem.
   Presented by: Avi Simhon,
 

Does competition for (human) capital discipline governments? The role of commitment
By Roc Armenter, Federal Reserve Bank of New York Francesc Ortega, Universitat Pompeu Fabra
   Presented by: Francesc Ortega, Universitat Pompeu Fabra
 

Accounting for Corruption: Taxes, the Shadow Economy, Endogenous Growth and Inflation
By Max Gillman - Cardiff Business School Michal Kejak - CERGE-EI, Prague
   Presented by: Michal Kejak, CERGE-EI
 

Welfare Gain of Financial Liberalization
By Robert M Townsend, University of Chicago Kenichi Ueda, IMF
   Presented by: Kenichi Ueda, International Monetary Fund

Session 93: Search and Growth

Date: July 8, 2006
Time: 15:45 - 17:45
Location: Grand Ballroom A
 

Optimal Growth Though Product Innovation
By Rasmus Lentz, University of Wisconsin-Madison Dale T. Mortensen, Northwestern University
   Presented by: Dale Mortensen, Northwestern University
 

Worker Reallocation and Labor Productivity Growth
By Rasmus Lentz, University of Wisconsin-Madison Dale T. Mortensen, Northwestern University
   Presented by: Rasmus Lentz, University of Wisconsin-Madison
 

Reallocation and Productivity Growth: The FAQs
By Eric Bartelsman: Vrije Universiteit Amsterdam and Tinbergen Institute; John Haltiwanger: University of Maryland, U.S. Census Bureau, and NBER; Stefano Scarpetta: The World Bank and IZA, Bonn.
   Presented by: John Haltiwanger,
 

The US-European Unemployment Divide Revisited: The Role of Growth and Convergence
By Christopher A Pissarides London School of Economics
   Presented by: Christopher Pissarides,

Session 94: Optimal Taxation

Date: July 8, 2006
Time: 15:45 - 17:45
Location: Port McNeill
 

Yet Another Reason to Tax Goods
By Carlos E. da Costa, Getulio Vargas Foundation
   Presented by: Carlos da Costa, Getulio Vargas Foundation
 

The Dynamics of Optimal Taxation when Human Capital is Endogenous
By Marek Kapicka, UC Santa Barbara
   Presented by: Marek Kapicka, University of California Santa Barbara
 

Why Tax Capital?
By Yili Chien AND Junsang Lee
   Presented by: Junsang Lee, public
 

Optimal Fiscal Policy over the Business Cycle
By Filippo Occhino, Rutgers University
   Presented by: filippo occhino,

Session 95: Business Cycles 2

Date: July 8, 2006
Time: 15:45 - 17:45
Location: Gulf Islands A
 

The Time Varying Volatility of Macroeconomic Fluctuations
By Giorgio Primiceri Northwestern University Alejandro Justiniano Board of Governorns of the Federal Reserve
   Presented by: Alejandro Justiniano, public
 

Agency Costs, Net Worth, and Endogenous Business Fluctuations
By Giovanni Favara IIES-Stockholm University Stockholm, Sweden
   Presented by: giovanni favara, iies stockholm university
 

The Young, the Old, and the Restless: Demographics and Business Cycle Volatility
By Henry Siu, UBC Nir Jaimovich, UCSD
   Presented by: Henry Siu, University of British Columbia
 

The Empirical Content of Models with Multiple Equilibria
By Alberto Bisin (NYU) Andrea Moro (FRBNY) Giorgio Topa (FRBNY)
   Presented by: Giorgio Topa, Federal Reserve Bank of New York

Session 96: Money and Inflation

Date: July 8, 2006
Time: 15:45 - 17:45
Location: Junior Ballroom A
 

Divisible money with partially directed search
By Dror Goldberg, Texas A&M University
   Presented by: Dror Goldberg, Texas A&M University
 

Inflation, Employment and Interest Rates in an Economy with Endogenous Market Segmentation
By Aubhik Khan, Federal Reserve Bank of Philadelphia Julia K. Thomas, University of Minnesota
   Presented by: Aubhik Khan, Federal Reserve Bank of Philadelphia
 

Monetary Policy, Endogenous Inattention, and the Volatility Trade-off
By William A. Branch, U.C. Irvine John Carlson, Cleveland Fed George W. Evans, University of Oregon Bruce McGough, Oregon State University
   Presented by: William Branch, University of California, Irvine
 

Aggregating Phillips curves
By Jean Imbs (University of Lausanne, CEPR and Fame) Eric Jondeau (University of Lausanne and Fame) Florian Pelgrin (University of Lausanne and IEMS)
   Presented by: Florian Pelgrin, public

Session 97: Sovereign Debt

Date: July 8, 2006
Time: 15:45 - 17:45
Location: Port Alberni
 

Default and the Term Structure in Sovereign Bonds
By Cristina Arellano University of Minnesota and Federal Reserve Bank of Minneapolis
   Presented by: Cristina Arellano, University of Minnesota
 

Coordination and Renegotiation: Sovereign Defaults in 1980s and 1990s
By Yan Bai Arizona State University Jing Zhang University of Michigan
   Presented by: Yan Bai, private
 

Sovereign Risk and Secondary Markets
By Fernando Broner: CREI and Universitat Pompeu Fabra Alberto Martin: CREI and Universitat Pompeu Fabra Jaume Ventura: CREI and Universitat Pompeu Fabra
   Presented by: Alberto Martin, CREI and Universitat Pompeu Fabra
 

Sovereign default risk with heterogenous borrowers
By Juan Carlos Hatchondo, Federal Reserve Bank of Richmond Leonardo Martinez, Federal Reserve Bank of Richmond Horacio Sapriza, Rutgers University
   Presented by: Horacio Sapriza, Rutgers University

Session 98: Housing and the Macroeconomy

Date: July 8, 2006
Time: 15:45 - 17:45
Location: Junior Ballroom B
 

First-Time Home Buyers
By Jonas Fisher, Federal Reserve Bank of Chicago Martin Gervais, University of Western Ontario
   Presented by: Martin Gervais, The University of Western Ontario
 

Tax Policy, the Distribution of Income, and the Value of Land and Leisure
By Morris A. Davis Federal Reserve Board
   Presented by: Morris Davis, Federal Reserve Board of Governors
 

Energy and the Macroeconomy: The Role of Consumer Durables
By Karsten Jeske, Federal Reserve Bank of Atlanta Rajeev Dhawan, Georgia State University
   Presented by: Karsten Jeske, Federal Reserve Bank of Atlanta
 

Strategic Asset Allocation, Asset Price Dynamics, and the Business Cycle
By Ivan Jaccard HEC Lausanne
   Presented by: Ivan Jaccard, public

Session 99: Finance in Production Economies

Date: July 8, 2006
Time: 15:45 - 17:45
Location: Grand Ballroom D
 

Testing the q-Theory of Anomalies
By Toni M. Whited School of Business University of Wisconsin-Madison Lu Zhang Simon School of Business University of Rochester and NBER
   Presented by: Lu Zhang, University of Rochester
 

Technological Growth, Asset Pricing, and Consumption Risk over Long Horizons
By Stavros Panageas, Univ. of Pennsylvania (Wharton) Jianfeng Yu, Univ. of Pennsylvania (Wharton)
   Presented by: Stavros Panageas, The Wharton School - Univ. of Penn.
 

Investment, consumption and hedging under incomplete markets
By Jianjun Miao, Boston University Neng Wang, Columbia University
   Presented by: Neng Wang, Columbia Business School
 

Leasing, Ability to Repossess, and Debt Capacity
By Andrea Eisfeldt, Northwestern University Adriano Rampini, Northwestern University
   Presented by: Andrea Eisfeldt, Northwestern University