2007 Meeting of the Society for Economic Dynamics

Summary of All Sessions

#Date/TimeLocationTypeTitlePapers
1June 28, 2007
10:00-12:00
S9 Room 119 invited Political Economy I4
2June 28, 2007
10:00-12:00
S5 Room 219 contributed Markets and Mechanisms4
3June 28, 2007
10:00-12:00
S4 Room 317 contributed Government Debt and Interest Rates4
4June 28, 2007
10:00-12:00
S6 Room 218 contributed Labor Market Policies4
5June 28, 2007
10:00-12:00
S10 Room 118 contributed Social Security and Intermediation4
6June 28, 2007
10:00-12:00
S11 Room 117 invited Neuroeconomics and Networks4
7June 28, 2007
10:00-12:00
S8 Room 123 invited Frictional Financial Markets4
8June 28, 2007
10:00-12:00
S3 Room 319 invited Empirical Industrial Organization I4
9June 28, 2007
10:00-12:00
S7 Room 217 invited Establishment Dynamics and International Trade4
10June 28, 2007
10:00-12:00
S12 Room 109 contributed Bayesian Methods in Macroeconomics4
11June 28, 2007
13:15-15:15
S3 Room 319 contributed Hiring and Separation4
12June 28, 2007
13:15-15:15
S6 Room 218 contributed Optimal Dynamic Policies3
13June 28, 2007
13:15-15:15
S9 Room 119 invited Household Intertemporal Decisions4
14June 28, 2007
13:15-15:15
S4 Room 317 contributed International Trade I4
15June 28, 2007
13:15-15:15
S8 Room 123 contributed Cyclical Properties of Labor Markets4
16June 28, 2007
13:15-15:15
S5 Room 219 contributed Dynamic Models of Political Economy3
17June 28, 2007
13:15-15:15
S12 Room 109 contributed Long Run Growth4
18June 28, 2007
13:15-15:15
S11 Room 117 contributed Money and Liquidity4
19June 28, 2007
13:15-15:15
S7 Room 217 contributed Empirical Models with Micro Data3
20June 28, 2007
13:15-15:15
S10 Room 118 contributed Nonexpected Utility and Asset Pricing4
21June 28, 2007
15:45-17:45
S9 Room 119 invited The Great Moderation: Changes in Aggregate Volatility4
22June 28, 2007
15:45-17:45
S7 Room 217 invited Capital Flows I4
23June 28, 2007
15:45-17:45
S11 Room 117 invited Misallocation and Aggregate Productivity4
24June 28, 2007
15:45-17:45
S6 Room 218 contributed Information Heterogeneity4
25June 28, 2007
15:45-17:45
S8 Room 123 invited Mechanism Design, Money, and Banking4
26June 28, 2007
15:45-17:45
S4 Room 317 contributed Optimal Monetary Policy4
27June 28, 2007
15:45-17:45
S12 Room 109 contributed Consumer Credit 4
28June 28, 2007
15:45-17:45
S3 Room 319 invited Unemployment4
29June 28, 2007
15:45-17:45
S5 Room 219 contributed Asset Pricing and the Macroeconomy4
30June 28, 2007
15:45-17:45
S10 Room 118 invited Recent Advances in Repeated Games4
31June 28, 2007
18:00-19:30
Aula invited Plenary Session 11
32June 29, 2007
10:00-12:00
S6 Room 218 contributed Empirical Macroeconomics4
33June 29, 2007
10:00-12:00
S9 Room 119 contributed International Trade II4
34June 29, 2007
10:00-12:00
S7 Room 217 contributed Investment, Volatility and Asset Pricing4
35June 29, 2007
10:00-12:00
S5 Room 219 contributed Labor Search and Matching4
36June 29, 2007
10:00-12:00
S11 Room 117 contributed Incentives in a Multiperiod Environment4
37June 29, 2007
10:00-12:00
S4 Room 317 invited Price Rigidities4
38June 29, 2007
10:00-12:00
S3 Room 319 invited Productivity and Economic Development4
39June 29, 2007
10:00-12:00
S10 Room 118 contributed Taxation and Political Economy4
40June 29, 2007
10:00-12:00
S12 Room 109 contributed Education4
41June 29, 2007
10:00-12:00
S8 Room 123 invited Understanding Business Cycles Past and Present 4
42June 29, 2007
13:15-15:15
S12 Room 109 contributed Learning in Macroeconomics4
43June 29, 2007
13:15-15:15
S10 Room 118 invited Political Economy II4
44June 29, 2007
13:15-15:15
S9 Room 119 contributed Monetary Theory4
45June 29, 2007
13:15-15:15
S8 Room 123 contributed Growth and Liquidity4
46June 29, 2007
13:15-15:15
S11 Room 117 contributed Labor Markets: Mobility, Productivity, Inequality4
47June 29, 2007
13:15-15:15
S3 Room 319 contributed Empirical Industrial Organization II4
48June 29, 2007
13:15-15:15
S6 Room 218 contributed Matching and Bargaining4
49June 29, 2007
13:15-15:15
S7 Room 217 contributed Commercial Policy, Trade and Welfare4
50June 29, 2007
13:15-15:15
S5 Room 219 invited Sovereign Debt and Portfolio Flows4
51June 29, 2007
13:15-15:15
S4 Room 317 contributed Optimal Employment Contracts with Frictions4
52June 29, 2007
15:45-17:45
S6 Room 218 invited Dynamic Fiscal Policies4
53June 29, 2007
15:45-17:45
S11 Room 117 invited Capital Flows II4
54June 29, 2007
15:45-17:45
S3 Room 319 contributed Search Frictions in Labor and Product Markets4
55June 29, 2007
15:45-17:45
S8 Room 123 contributed Household Income Risk4
56June 29, 2007
15:45-17:45
S9 Room 119 invited CNB Session: Macroeconomic Policy and Inflation Targeting4
57June 29, 2007
15:45-17:45
S10 Room 118 invited Auctions, Search, and Matching4
58June 29, 2007
15:45-17:45
S4 Room 317 contributed Scale and the Macroeconomy3
59June 29, 2007
15:45-17:45
S7 Room 217 contributed Innovation and Growth4
60June 29, 2007
15:45-17:45
S12 Room 109 contributed Credit Market Imperfections4
61June 29, 2007
15:45-17:45
S5 Room 219 contributed Housing4
62June 29, 2007
18:00-19:30
Aula invited Plenary Session 21
63June 30, 2007
10:00-12:00
S4 Room 317 contributed Productivity4
64June 30, 2007
10:00-12:00
S5 Room 219 contributed The Economics of Networks4
65June 30, 2007
10:00-12:00
S12 Room 109 contributed Business Cycles4
66June 30, 2007
10:00-12:00
S8 Room 123 contributed Human Capital and Wage Dynamics3
67June 30, 2007
10:00-12:00
S6 Room 218 invited Inflation4
68June 30, 2007
10:00-12:00
S9 Room 119 invited Long-run Risks and the Macroeconomy4
69June 30, 2007
10:00-12:00
S7 Room 217 invited Real Effects of Financial Crises4
70June 30, 2007
10:00-12:00
S11 Room 117 contributed Normative Studies of Government Policy4
71June 30, 2007
10:00-12:00
S10 Room 118 contributed Applied Theory4
72June 30, 2007
10:00-12:00
S3 Room 319 contributed Taxes and Tax Reform4
73June 30, 2007
13:15-15:15
S7 Room 217 contributed Capital Flows III4
74June 30, 2007
13:15-15:15
S3 Room 319 invited Price Competition4
75June 30, 2007
13:15-15:15
S10 Room 118 contributed Bankruptcy, Collateral, and Default4
76June 30, 2007
13:15-15:15
S9 Room 119 invited Economics of Energy and Non-renewable Resources, Supported by CEZ4
77June 30, 2007
13:15-15:15
S5 Room 219 contributed Risk Sharing4
78June 30, 2007
13:15-15:15
S4 Room 317 contributed The Labor Supply of Women and Wage Inequality4
79June 30, 2007
13:15-15:15
S11 Room 117 contributed Bubbles and Expectations4
80June 30, 2007
13:15-15:15
S12 Room 109 contributed Monetary Policy4
81June 30, 2007
13:15-15:15
S6 Room 218 contributed Investment4
82June 30, 2007
13:15-15:15
S8 Room 123 invited Dynamic Contracts4
83June 30, 2007
15:45-17:45
S3 Room 319 invited The Dynamics of Beliefs: Theory and Applications2
84June 30, 2007
15:45-17:45
S6 Room 218 contributed Empirical Monetary Economics4
85June 30, 2007
15:45-17:45
S9 Room 119 contributed Labor Search3
86June 30, 2007
15:45-17:45
S4 Room 317 contributed Life Cycle4
87June 30, 2007
15:45-17:45
S5 Room 219 contributed Prices and Pricing4
88June 30, 2007
15:45-17:45
S10 Room 118 contributed Liquidity and Financial Frictions4
89June 30, 2007
15:45-17:45
S8 Room 123 contributed Firm Financing4
90June 30, 2007
15:45-17:45
S11 Room 117 contributed Great Depressions4
91June 30, 2007
15:45-17:45
S7 Room 217 contributed International Dimensions of Fiscal and Monetary Policy4
92June 30, 2007
15:45-17:45
S12 Room 109 contributed Growth and Development4
93June 30, 2007
18:00-19:30
Aula invited Plenary Session 31
 

93 sessions, 355 papers


 

2007 Meeting of the Society for Economic Dynamics

Complete List of All Sessions


Session 1: Political Economy I

Session type: invited
Date: June 28, 2007
Time: 10:00 - 12:00
Location: S9 Room 119
 

The Farm, The City, and the Emergence of Social Security
JEL codes: H55, H3, D72
   Presented by: Thomas Cooley, New York University
 

Sustaining Social Security
   Presented by: Dirk Niepelt, Study Center Gerzensee and
 

On the theory of ethnic conflict
   Presented by: Francesco Caselli, London School of Economics
 

Rotten Parents and Disciplined Children: A Politico-Economic Theory of Public Expenditure and Debt
   Presented by: Fabrizio Zilibotti,

Session 2: Markets and Mechanisms

Session type: contributed
Date: June 28, 2007
Time: 10:00 - 12:00
Location: S5 Room 219
 

Anonymity and Individual Risk
   Presented by: Pamela Labadie, George Washington University
 

The Macroeconomic Dynamics of Labor and Capital Market Imperfections
   Presented by: Nicolas Petrosky-Nadeau, Universite du Quebec a Montreal
 

Intertemporal Distortions and Second Best Theory
   Presented by: Roc Armenter, Federal Reserve Bank of New York
 

Optimal Dynamic Contests
   Presented by: Giuseppe Moscarini, Yale University

Session 3: Government Debt and Interest Rates

Session type: contributed
Date: June 28, 2007
Time: 10:00 - 12:00
Location: S4 Room 317
 

Bond Supply, Expectations, and the Yield Curve
   Presented by: Monika Piazzesi, University of Chicago
 

Fiscal Policy, Asset Pricing and Economic Activity in a Savers-Spenders Economy
   Presented by: Francisco Gomes, London Business School
 

Incomplete markets and the yield curve
   Presented by: François Le Grand, PSE
 

Monetary Policy, Expected Inflation, and Inflation Risk Premium
   Presented by: Juha Seppala, University of Illinois

Session 4: Labor Market Policies

Session type: contributed
Date: June 28, 2007
Time: 10:00 - 12:00
Location: S6 Room 218
 

Employment protection, firm selection, and growth
JEL codes: E24,J65,L16,O40
   Presented by: Markus Poschke, European University Institute, Florence
 

Unemployment Benefits vs. Unemployment Accounts: A Quantitative Exploration
   Presented by: Christian Zimmermann, University of Connecticut
 

Optimal Unemployment Insurance with Hidden Trade
   Presented by: Yuzhe Zhang, University of Iowa
 

On-the-Job Search, Minimum Wages, and Labor Market Outcomes in an Equilibrium Bargaining Framework
   Presented by: Christopher Flinn, New York University

Session 5: Social Security and Intermediation

Session type: contributed
Date: June 28, 2007
Time: 10:00 - 12:00
Location: S10 Room 118
 

Social Security and Two-Earner Households
   Presented by: remzi kaygusuz, the pennsylvania state university
 

Millian efficiency with endogenous fertility
   Presented by: Mikel Pérez-Nievas, Universidade de Santiago de Compostela
 

Social Security and RIsk Sharing
   Presented by: piero gottardi, University of Venice
 

On the Welfare and Distributional Implications of Intermediation Costs
   Presented by: António Antunes, Banco de Portugal

Session 6: Neuroeconomics and Networks

Session type: invited
Date: June 28, 2007
Time: 10:00 - 12:00
Location: S11 Room 117
 

Risk-sharing agreements on social networks
JEL codes: C72, C78
   Presented by: Attila Ambrus, Harvard University
 

Combining brain and behavioral data to improve econometric policy analysis
   Presented by: Daniel Houser, George Mason University
 

Markowitz in the brain - neural representations of expected reward and risk during gambling.
   Presented by: Kerstin Preuschoff, California Institute of Technology
 

Choice, Social Norms and Intelligence
   Presented by: Aldo Rustichini, University of Minnesota

Session 7: Frictional Financial Markets

Session Chair: Chris Edmond, New York University
Session type: invited
Date: June 28, 2007
Time: 10:00 - 12:00
Location: S8 Room 123
 

Crashes and Recoveries in Illiquid Markets
   Presented by: Ricardo Lagos, New York University
 

Over the Counter Search Frictions: A Case Study of the Federal Funds Market
   Presented by: Adam Ashcraft, Federal Reserve Bank of New York
 

Emerging Economies and Fund Managers
   Presented by: Peter Kondor, University of Chicago
 

Asset Prices and the Composition of Consumption
   Presented by: Chris Edmond, New York University

Session 8: Empirical Industrial Organization I

Session type: invited
Date: June 28, 2007
Time: 10:00 - 12:00
Location: S3 Room 319
 

Set-Asides and Subsidies in Auctions
JEL codes: D44, H57, L53
   Presented by: Susan Athey, Harvard University
 

Testing for Common Valuation in Treasury Bills Auctions
   Presented by: Jakub Kastl, Stanford University
 

The Relative Performance of Real Estate Marketing Platforms: MLS versus FSBOMadison.com
   Presented by: Aviv Nevo, Northwestern University
 

Liquidity Constraints and Their Causes: Evidence from Subprime Lending
   Presented by: Liran Einav, Stanford University

Session 9: Establishment Dynamics and International Trade

Session type: invited
Date: June 28, 2007
Time: 10:00 - 12:00
Location: S7 Room 217
 

Measuring export entry costs
   Presented by: Kim Ruhl, University of Texas Austin
 

Multi-product Firms and Trade Liberalization
   Presented by: Stephen Redding, London School of Economics
 

The Long and Short (of) Quality Ladders
   Presented by: Amit Khandelwal, public
 

Changes in U.S. Exporter Participation and Trade Costs
   Presented by: George Alessandria, Federal Reserve Bank of Philadelphia

Session 10: Bayesian Methods in Macroeconomics

Session type: contributed
Date: June 28, 2007
Time: 10:00 - 12:00
Location: S12 Room 109
 

Measuring Monetary Policy: A Bayesian FAVAR Approach with Agnostic Identification
JEL codes: C11;
   Presented by: Pooyan Amir Ahmadi, Humboldt University
 

Macroeconomic Volatility and Monetary Policy Regimes
   Presented by: Zheng Liu, Emory University
 

Learning dynamics in an estimated medium-sized DSGE model
   Presented by: Sergey Slobodyan, CERGE-EI
 

Forming Priors for DSGE Models (and How It Affects the Assessment of Nominal Rigidities)
   Presented by: Marco Del Negro, FRB Atlanta-Research

Session 11: Hiring and Separation

Session type: contributed
Date: June 28, 2007
Time: 13:15 - 15:15
Location: S3 Room 319
 

Job Security Does Affect Economic Efficiency, Theory, A New Statistic, and Evidence from Chile
   Presented by: Amil Petrin, University of Chicago
 

Labor-Market Implications of Contracts under Moral Hazard
   Presented by: kangwoo Park, Seoul National University
 

job creation and job destruction over the life cycle
   Presented by: Arnaud Chéron, GAINS
 

Hiring, separation, and real downward wage rigidity in European economies
   Presented by: James Costain, Bank of Spain

Session 12: Optimal Dynamic Policies

Session type: contributed
Date: June 28, 2007
Time: 13:15 - 15:15
Location: S6 Room 218
 

Optimal unemployment insurance in a life cycle model
JEL codes: C61, J64, J65
   Presented by: françois langot, cepremap
 

Dynamic Optimal Insurance and Lack of Commitment
   Presented by: Fernando Martin, Simon Fraser University
 

Optimal Dynamic Taxation of Households: Insurance, Incentives and Commitment
   Presented by: Stefania Albanesi, Columbia

Session 13: Household Intertemporal Decisions

Session type: invited
Date: June 28, 2007
Time: 13:15 - 15:15
Location: S9 Room 119
 

Why do Household Portfolio Shares Rise in Wealth?
   Presented by: Jessica Wachter, The Wharton School
 

Disability shocks and consumption behavior
   Presented by: Luigi Pistaferri, Stanford University
 

Cyclical Skill-Biased Technological Change
   Presented by: Thijs van Rens, CREI and Universitat Pompeu Fabra
 

Consumption and Labor Supply with Partial Insurance: An Analytical Framework
   Presented by: Giovanni Luca Violante, New York University

Session 14: International Trade I

Session type: contributed
Date: June 28, 2007
Time: 13:15 - 15:15
Location: S4 Room 317
 

Liquidity Constrained Exporters
   Presented by: Thomas Chaney, The University of Chicago
 

The Return to Multinational Production and "Global Imbalances"
   Presented by: Veronica Rappoport, Columbia Business School
 

On Globalization and the Growth of Governments
   Presented by: Gino Gancia, CREI and UPF
 

Passthrough at the Dock: Pricing to Currency and to Market?
   Presented by: Gita Gopinath, Harvard

Session 15: Cyclical Properties of Labor Markets

Session type: contributed
Date: June 28, 2007
Time: 13:15 - 15:15
Location: S8 Room 123
 

An Estimated Monetary DSGE Model with Unemployment and Staggered Nominal Wage Bargaining
   Presented by: Antonella Trigari, IGIER, Università Bocconi
 

Idiosyncratic and Aggregate Risk in a Frictional Labor Market
   Presented by: Leena Rudanko, University of Chicago
 

Uninsurable Individual Risk and the Cyclical Behavior of Unemployment and Vacancies
   Presented by: Pedro Silos, Federal Reserve Bank of Atlanta
 

U.S. LABOR MARKET DYNAMICS AND THE BUSINESS CYCLE
   Presented by: Eran Yashiv, Tel Aviv University

Session 16: Dynamic Models of Political Economy

Session type: contributed
Date: June 28, 2007
Time: 13:15 - 15:15
Location: S5 Room 219
 

On policy interactions among nations: when do cooperation and commitment matter ?
JEL codes: E52, E63
   Presented by: Leopold von Thadden, European Central Bank
 

Political Disagreement, Lack of Commitment and the Level of Debt
   Presented by: Davide Debortoli, Universitat Pompeu Fabra
 

A Dynamic Theory of Public Spending, Taxation and Debt
   Presented by: Marco Battaglini, Princeton University

Session 17: Long Run Growth

Session type: contributed
Date: June 28, 2007
Time: 13:15 - 15:15
Location: S12 Room 109
 

The Role of Land Along the Development Path
JEL codes: O10, O40
   Presented by: Fidel Perez Sebastian, University of Alicante
 

Private Incentives versus Class Interests: Implications for Growth
   Presented by: Ani Guerdjikova, Cornell University
 

Modernization of Agriculture and Long Term Growth
   Presented by: Xiaodong Zhu, University of Toronto
 

Growth and Structural Transformation
   Presented by: Akos Valentinyi, University of Southampton

Session 18: Money and Liquidity

Session type: contributed
Date: June 28, 2007
Time: 13:15 - 15:15
Location: S11 Room 117
 

Money and nominal bonds
JEL codes: E40, H20, H63
   Presented by: pietro senesi, Università di Napoli
 

Quantitative Implications of Indexed Bonds in Small Open Economies
   Presented by: Ceyhun Bora Durdu, Congressional Budget Office
 

Optimal Monetary and Fiscal Policies in a Search Theoretic Model of Monetary Exchange
   Presented by: Adrian Peralta-Alva, University of Miami
 

"Household Need for Liquidity and the Credit Card Debt Puzzle"
   Presented by: Irina Telyukova, University of California San Diego

Session 19: Empirical Models with Micro Data

Session type: contributed
Date: June 28, 2007
Time: 13:15 - 15:15
Location: S7 Room 217
 

Identifying Adjustment Costs of Net and Gross Employment Changes
JEL codes: C33 c41 e24 j23
   Presented by: Joao Ejarque, University of Essex
 

Hard Drugs Addiction, Drug Violations and Property Crimes in the US
   Presented by: Marco Cozzi, University College London
 

The Informal Sector
   Presented by: Aureo De Paula, University of Pennsylvania

Session 20: Nonexpected Utility and Asset Pricing

Session type: contributed
Date: June 28, 2007
Time: 13:15 - 15:15
Location: S10 Room 118
 

Recursive Risk Sharing: Microfoundations for Representative-Agent Asset Pricing
   Presented by: Bryan Routledge, Carnegie Mellon University
 

Ambiguity Aversion and the Welfare Costs of Business Cycles
   Presented by: Irasema Alonso, Yale University
 

Asset Pricing in a General Equilibrium Production Economy with Chew-Dekel Risk Preferences
   Presented by: Gian Luca Clementi, Stern School of Business
 

An Estimation of Economic Models with Recursive Preferences
   Presented by: Sydney Ludvigson, New York University

Session 21: The Great Moderation: Changes in Aggregate Volatility

Session type: invited
Date: June 28, 2007
Time: 15:45 - 17:45
Location: S9 Room 119
 

The "great moderation'' and the US external imbalance
   Presented by: Fabrizio Perri, New York University
 

Financial Innovations and Macroeconomic Volatility
   Presented by: Vincenzo Quadrini, USC
 

Macroeconomic Volatility, Learning, and the Term Structure of Interest Rates
   Presented by: Giorgio Primiceri, Northwestern University
 

The Young, the Old, and the Restless: Demographics and Business Cycle Volatility
   Presented by: Nir Jaimovich, Stanford

Session 22: Capital Flows I

Session type: invited
Date: June 28, 2007
Time: 15:45 - 17:45
Location: S7 Room 217
 

Trade, Multinational Production, and the Gains from Openness
JEL codes: F2; O33
   Presented by: Natalia Ramondo, University of Texas at Austin
 

Why Does Capital Flow to Rich States?
   Presented by: Bent Sorensen, University of Houston
 

Trade Costs, Asset Market Frictions and Risk Sharing
   Presented by: Doireann Fitzgerald, Stanford University
 

The Efficiency and Mobility of International Capital Flows: 1950-2006
   Presented by: Mark Wright, Stanford University

Session 23: Misallocation and Aggregate Productivity

Session type: invited
Date: June 28, 2007
Time: 15:45 - 17:45
Location: S11 Room 117
 

Financing Development: The Role of Information Costs
   Presented by: Juan Sanchez, University of Rochester
 

Total Factor Productivity and Labor Reallocation: The Case of the Korean 1997 Crisis
   Presented by: Felipe Meza, Universidad Carlos III de Madrid
 

Income Disparities Across Indian States
   Presented by: Amartya Lahiri, University of British Columbia
 

Cross Country Differences in Productivity: The Role of Allocative Efficiency
   Presented by: Eric Bartelsman,

Session 24: Information Heterogeneity

Session type: contributed
Date: June 28, 2007
Time: 15:45 - 17:45
Location: S6 Room 218
 

The Social Value of Public Information with Costly Private Information
JEL codes: C73, D82, F31
   Presented by: Gianluca Femminis, Università Cattolica, Milano
 

Dynamic Higher Order Expectations
   Presented by: Kristoffer Nimark, Reserve Bank of Australia
 

A Model of Dynamic Information Aggregation with Uninformed Rational Agents
   Presented by: In Ho Lee, Seoul National University
 

Strategic Experimentation with Poisson Bandits
   Presented by: Sven Rady, University of Munich

Session 25: Mechanism Design, Money, and Banking

Session type: invited
Session JEL code: E4, E5
Date: June 28, 2007
Time: 15:45 - 17:45
Location: S8 Room 123
 

Mechanism design and Payments
JEL codes: E4, E5
   Presented by: Ted Temzelides, University of Pittsburgh
 

Moral Hazard in the Diamond-Dybvig Model of Banking
   Presented by: David Andolfatto, Simon Fraser University
 

Commitment and Equilibrium Bank Runs
   Presented by: Todd Keister, Federal Reserve Bank of New York
 

Counterfeiting as Private Money in Mechanism Design
   Presented by: Ed Nosal, Federal Reserve Bank of Cleveland

Session 26: Optimal Monetary Policy

Session type: contributed
Date: June 28, 2007
Time: 15:45 - 17:45
Location: S4 Room 317
 

Optimal Time-Consistent Monetary Policy in the New Keynesian Model with Repeated Simultaneous Play
JEL codes: E61, E52
   Presented by: Eric Swanson, Federal Reserve Bank of San Francisco
 

Welfare-Maximizing Monetary Policy under Parameter Uncertainty
   Presented by: Rochelle Edge, Federal Reserve Board
 

Strategic Complementarities and Optimal Monetary Policy
   Presented by: Tack Yun, Federal Reserve Board
 

The Normative Implications of Heterogeneity in the Frequency of Price Adjustment
   Presented by: Andrea Tambalotti, Federal Reserve Bank of New York

Session 27: Consumer Credit

Session type: contributed
Date: June 28, 2007
Time: 15:45 - 17:45
Location: S12 Room 109
 

Unsecured Credit and Self-Employment
   Presented by: Kartik Athreya, Federal Reserve Bank of Richmond
 

A Structural Model of Chapter 13 Personal Bankruptcy
   Presented by: Wenli Li, Federal Reserve Bank of Philadelphia
 

Incomplete Markets and the Evolution of US Consumer Debt
   Presented by: Winfried Koeniger, IZA
 

Credit Scoring and Endogenous Stigma
   Presented by: Jim MacGee, University of Western Ontario

Session 28: Unemployment

Session type: invited
Session JEL code: E24
Date: June 28, 2007
Time: 15:45 - 17:45
Location: S3 Room 319
 

Structural Estimation of Search Intensity: Do non-employed workers search hard enough?
JEL codes: J64, J31, E24
   Presented by: Ronald Wolthoff, Vrije Universiteit Amsterdam
 

Equilibrium Unemployment in a Generalized Search Model
   Presented by: William Hawkins, University of Rochester
 

The relevance of capital and savings for labor market fluctuations
   Presented by: Michael Reiter, Universitat Pompeu Fabra
 

Inflation and unemployment: Lagos-Wright meets Mortensen-Pissarides
   Presented by: Aleksander Berentsen, University of Basel

Session 29: Asset Pricing and the Macroeconomy

Session type: contributed
Date: June 28, 2007
Time: 15:45 - 17:45
Location: S5 Room 219
 

Booms and Busts in Segmented Asset Markets
   Presented by: Martin Schneider, New York University
 

Inflation and Stock Prices: No Illusion
   Presented by: Chao Wei, George Washington University
 

Macro Implications of Household Finance
   Presented by: YiLi Chien, Purdue University
 

Explaining Asset Prices with External Habits and Wage Rigidities in a DSGE Model
   Presented by: Harald Uhlig, Humboldt University Berlin

Session 30: Recent Advances in Repeated Games

Session type: invited
Date: June 28, 2007
Time: 15:45 - 17:45
Location: S10 Room 118
 

Purification in the Infinitely-Repeated Prisoners' Dilemma
JEL codes: C72, C73
   Presented by: George Mailath, Yale University
 

Finite State Equilibria in Dynamic Games
   Presented by: Ichiro Obara, UCLA
 

The Folk Theorem for Repeated Games with Observation Costs
   Presented by: Tadashi Sekiguchi, Kyoto University
 

Private Monitoring without Conditional Independence
   Presented by: Johannes Hörner, Northwestern University

Session 31: Plenary Session 1

Session type: invited
Date: June 28, 2007
Time: 18:00 - 19:30
Location: Aula
 

Plenary Session
   Presented by: Kenneth Wolpin, University of Pennsylvania

Session 32: Empirical Macroeconomics

Session type: contributed
Date: June 29, 2007
Time: 10:00 - 12:00
Location: S6 Room 218
 

Information Criteria for Impulse Response Function Matching Estimation
JEL codes: C32, E47, C53
   Presented by: Barbara Rossi, Duke University
 

Measures of Per Capita Hours and their Implications for the Technology-Hours Debate
   Presented by: Neville Francis, University of North Carolina
 

The Power of Long-Run VARs
   Presented by: Robert Vigfusson, Federal Reserve Board
 

The general equilibrium effects of fiscal policy: estimates for the euro area
   Presented by: Lorenzo Forni, Bank of Italy

Session 33: International Trade II

Session type: contributed
Date: June 29, 2007
Time: 10:00 - 12:00
Location: S9 Room 119
 

Unbalanced Trade
JEL codes: F17 F32
   Presented by: Jonathan Eaton, New York University
 

International Trade and Income Differences
   Presented by: Michael Waugh, University of Iowa
 

International Trade Dynamics with Intermediate Inputs
   Presented by: Ananth Ramanarayanan, University of Minnesota
 

On The Welfare Benefits Of An International Currency
   Presented by: Prakash Kannan, International Monetary Fund

Session 34: Investment, Volatility and Asset Pricing

Session type: contributed
Date: June 29, 2007
Time: 10:00 - 12:00
Location: S7 Room 217
 

Durability of Output and Expected Stock Returns
JEL codes: D57; E21; G12
   Presented by: Motohiro Yogo, University of Pennsylvania
 

Time-to-Build and Asset Prices
   Presented by: Lars-Alexander Kuehn, University of British Columbia
 

Consumption Volatility and the Cross-Section of Stock Returns
   Presented by: Roméo Tédongap Nguefack, Université de Montréal
 

The Puzzling Evolution of the Home Bias, Information Processing and Financial Openness
   Presented by: Jordi Mondria, University of Toronto

Session 35: Labor Search and Matching

Session type: contributed
Date: June 29, 2007
Time: 10:00 - 12:00
Location: S5 Room 219
 

Product Market Regulation, Firm Selection and Unemployment
JEL codes: E24, J63, L16
   Presented by: Gabriel Felbermayr, Eberhard Karls University, Tuebingen
 

The Joint Effect of Firing Costs on Employment and Productivity in Search and Matching Models
   Presented by: Bjoern Bruegemann, Yale University
 

The Effect of Quits on Worker Recruitment: Theory and Evidence
   Presented by: Jason Faberman, Bureau of Labor Statistics
 

Island Matching
   Presented by: Dale Mortensen, Northwestern University

Session 36: Incentives in a Multiperiod Environment

Session type: contributed
Date: June 29, 2007
Time: 10:00 - 12:00
Location: S11 Room 117
 

When does it pay to get informed?
   Presented by: Ayca Kaya, University of Iowa
 

Perishable Durable Goods
   Presented by: In-Koo Cho, University of Illinois
 

Contingent Auctions with Allocative Externalities: Vickrey vs. the Ausubel-Milgrom Proxy Auction.
   Presented by: Laurent Lamy, CREST-INSEE
 

Optimal CEO Compensation and Option Repricing
   Presented by: Arantxa Jarque, Universidad de Alicante

Session 37: Price Rigidities

Session type: invited
Date: June 29, 2007
Time: 10:00 - 12:00
Location: S4 Room 317
 

Real Rigidities and Nominal Price Changes
JEL codes: E3, L16
   Presented by: Jonathan Willis, Federal Reserve Bank of Kansas City
 

Understanding International Prices: Customers as Capital
   Presented by: Lukasz Drozd, University of Minnesota
 

Monetary Non-Neutrality in a Multi-Sector Menu Cost Model
   Presented by: Jon Steinsson, Harvard University
 

Prices and Market Shares in a Menu Cost Model
   Presented by: Christian Hellwig, University of California Los Angeles

Session 38: Productivity and Economic Development

Session type: invited
Date: June 29, 2007
Time: 10:00 - 12:00
Location: S3 Room 319
 

Trade, Diffusion and the Gains from Openness
   Presented by: Andres Rodriguez-Clare, PSU
 

Sources of TFP Growth: Occupational Choice and Financial Deepening
   Presented by: Hyeok Jeong, University of Southern California
 

Heterogeneous Firms, Productivity, and Poverty Traps
   Presented by: Riccardo DiCecio, Federal Reserve Bank of St. Louis
 

Financial Frictions and the Persistence of History: A Quantitative Exploration
   Presented by: Yongseok Shin, University of Wisconsin

Session 39: Taxation and Political Economy

Session type: contributed
Date: June 29, 2007
Time: 10:00 - 12:00
Location: S10 Room 118
 

Statute Law or Case Law?
   Presented by: Alessandro Riboni, University of Montréal
 

Starving the Leviathan: a Dynamic Analysis of Fiscal Constitutions
   Presented by: Marina Azzimonti Renzo, University of Iowa
 

Taxation without Commitment
   Presented by: Catarina Reis, MIT
 

The Survival of Social Security and Immigration
   Presented by: Assaf Razin, Tel Aviv University

Session 40: Education

Session type: contributed
Date: June 29, 2007
Time: 10:00 - 12:00
Location: S12 Room 109
 

Skill Premium, Schooling Decisions, Skill-Biased Technological and Demographic Change: A Macroeconomic Analysis
JEL codes: O33, J24, J31,
   Presented by: Hui He, University of Minnesota
 

Fostering Educational Enrolment Through Subsidies: the Issue of Timing
   Presented by: Mario Fiorini, University College London
 

The Causes and Consequences of Cross-Country Differences in Schooling Attainment
   Presented by: Todd Schoellman, Stanford University
 

Educational Attainment in U.S. Cities
   Presented by: Lutz Hendricks, Iowa State University

Session 41: Understanding Business Cycles Past and Present

Session Chair: Michelle Alexopoulos, University of Toronto
Session type: invited
Session JEL code: E3
Date: June 29, 2007
Time: 10:00 - 12:00
Location: S8 Room 123
 

Monetary Policy with Single Instrument Feedback Rules.
JEL codes: E31; E40; E52;
   Presented by: Isabel Correia, Banco de Portugal
 

The International Propagation of News Shocks
   Presented by: Franck Portier, Universite de Toulouse
 

Intrinsic Business Cycles
   Presented by: Huw Lloyd-Ellis, Queens University
 

Believe it or not! The 1930s was a technologically progressive decade
   Presented by: Michelle Alexopoulos, University of Toronto

Session 42: Learning in Macroeconomics

Session type: contributed
Date: June 29, 2007
Time: 13:15 - 15:15
Location: S12 Room 109
 

Learning and the Great Moderation
JEL codes: E3, D8.
   Presented by: Aarti Singh, Washington University
 

Learning and Model Validation
   Presented by: Kenneth Kasa, Simon Fraser University
 

Optimal Monetary Policy Rules: The Problem of Stability under Heterogeneous Learning
   Presented by: Dmitri Kolyuzhnov, Charles University-Academy of Sciences
 

Adaptive Learning as a Propagation Mechanism
   Presented by: Stefano Eusepi, Fedral Reserve Bank of New York

Session 43: Political Economy II

Session type: invited
Session JEL code: d7
Date: June 29, 2007
Time: 13:15 - 15:15
Location: S10 Room 118
 

Policy Persistence in Multi-party Parliamentary Democracies
JEL codes: D7, E6, H1, H5
   Presented by: Pohan Fong, Concordia University
 

Strategic Voting over Strategic Proposals
   Presented by: Hulya Eraslan, University of Pennsylvania
 

Electoral Economics in New Democracies: Affecting Attitudes About Democracy
   Presented by: Allan Drazen, University of Maryland
 

Greed as a Source of Polarization
   Presented by: Igor Livshits, University of Western Ontario

Session 44: Monetary Theory

Session type: contributed
Date: June 29, 2007
Time: 13:15 - 15:15
Location: S9 Room 119
 

On the Optimum Distribution of Money
JEL codes: E40
   Presented by: Ricardo Cavalcanti, University of Toronto
 

Commodity money and multilateral meetings
   Presented by: Daniela Puzzello, University of Kentucky
 

The Societal Benefits of Outside versus Inside Bonds
   Presented by: Christopher Waller, University of Notre Dame
 

Money and Credit: An Equivalence Result and Its Implications
   Presented by: Narayana Kocherlakota, University of Minnesota

Session 45: Growth and Liquidity

Session type: contributed
Date: June 29, 2007
Time: 13:15 - 15:15
Location: S8 Room 123
 

Liquidity saving mechanisms
JEL codes: E42, E58, G21
   Presented by: Antoine Martin, Federal Reserve Bank of New York
 

Bank runs in a dynamic general equilibrium framework
   Presented by: Francesca Carapella, University of Minnesota, Minneapolis FED
 

The Role of Education in Development
   Presented by: Juan Cordoba, Rice University
 

Entrepreneurship with borrowing constraints in a model of economic development
   Presented by: Aubhik Khan, Federal Reserve Bank of Philadelphia

Session 46: Labor Markets: Mobility, Productivity, Inequality

Session type: contributed
Date: June 29, 2007
Time: 13:15 - 15:15
Location: S11 Room 117
 

Explaining the Low Labor Productivity in East Germany - A Spatial Analysis
JEL codes: C15, J24, J61
   Presented by: Nicola Fuchs-Schuendeln, Harvard University
 

Big Locational Differences in Unemployment Despite High Labor Mobility
   Presented by: Damba Lkhagvasuren, Northwestern University
 

Job mobility in Portugal: a Bayesian study with matched worker-firm data
   Presented by: Guillaume Horny, BETA-CNRS
 

Politico-Economic Consequences of Rising Wage Inequality
   Presented by: Burhanettin Kuruscu, University of Texas at Austin and University of Western Ontario

Session 47: Empirical Industrial Organization II

Session type: contributed
Date: June 29, 2007
Time: 13:15 - 15:15
Location: S3 Room 319
 

Better Safe than Sorry? Ex Ante and Ex Post Moral Hazard in Dynamic Insurance
JEL codes: D82,G22,C41
   Presented by: Jaap Abbring, Vrije Universiteit
 

Spatial Differentiation in Retail Markets for Gasoline
   Presented by: Jean-François Houde, University of Wisconsin-Madison
 

Ticket Resale
   Presented by: Alan Sorensen, Stanford University
 

Market Structure and Innovation: A Dynamic Analysis of the Global Automobile Industry
   Presented by: Aamir Hashmi, National U of Singapore and U of Toronto

Session 48: Matching and Bargaining

Session type: contributed
Date: June 29, 2007
Time: 13:15 - 15:15
Location: S6 Room 218
 

Efficiency of Directed Search
JEL codes: J64, J31, D85
   Presented by: Philipp Kircher, University of Pennsylvania
 

Bargaining with Arrival of New Traders
   Presented by: Andrzej Skrzypacz, Stanford University
 

Dynamic Matching and Bargaining Games: A General Approach
   Presented by: Stephan Lauermann, Bonn Graduate School of Economics
 

Pricing in Matching Markets
   Presented by: Andrew Postlewaite, university of pennsylvania

Session 49: Commercial Policy, Trade and Welfare

Session Chair: Horag Choi, The University of Auckland
Session type: contributed
Date: June 29, 2007
Time: 13:15 - 15:15
Location: S7 Room 217
 

Welfare Gains to Trade Reform under Firm Heterogeneity
JEL codes: E31, F12
   Presented by: Horag Choi, The University of Auckland
 

Market Access Costs and the New Consumers Margin in International Trade
   Presented by: Costas Arkolakis, University of Minnesota and Yale University
 

Export Subsidies, Productivity and Welfare under Firm-Level Heterogeneity
   Presented by: Svetlana Demidova, The University of Georgia
 

International Technological Competition and Optimal R&D Subsidies in the US: 1973-1990
   Presented by: Giammario Impullitti, IMT Lucca and EUI Florence

Session 50: Sovereign Debt and Portfolio Flows

Session type: invited
Date: June 29, 2007
Time: 13:15 - 15:15
Location: S5 Room 219
 

Sovereign Debt and the Tragedy of the Commons
   Presented by: Manuel Amador, Stanford University
 

A Theory of Delay in Sovereign Defaults Based on Limited Commitment
   Presented by: David Benjamin, University of Southampton
 

Country Portfolio Dynamics
   Presented by: Alan Sutherland, University of St Andrews
 

Return Volatility and International Portfolio Choice
   Presented by: Robert Kollmann, Free University of Brussels

Session 51: Optimal Employment Contracts with Frictions

Session type: contributed
Date: June 29, 2007
Time: 13:15 - 15:15
Location: S4 Room 317
 

Unemployment Insurance in a Dynamic Economy with Endogenous Layoffs
   Presented by: Xue(sherry) Qiao, Iowa State University
 

Employment Uncertain and Wage Contracts
   Presented by: Lodewijk Visschers, University of Pennsylvania
 

Fighting for Talent: Risk-Taking, Corporate Volatility, and Organizational Change
   Presented by: Mariassunta Giannetti, Stockholm School of Economics
 

Job-to-job transitions and wage dynamics
   Presented by: Eva Nagypal, Northwestern University

Session 52: Dynamic Fiscal Policies

Session type: invited
Date: June 29, 2007
Time: 15:45 - 17:45
Location: S6 Room 218
 

Revisiting the Supply-Side Effects of Government Spending Under Incomplete Markets
   Presented by: Vasia Panousi, MIT
 

Optimal Human Capital Policies
   Presented by: Marek Kapicka, University of California Santa Barbara
 

Accounting for private information
   Presented by: Pricila Maziero, University of Minnesota and Federal Reserve Bank of Minneapolis
 

Liquidity and Spending Dynamics
   Presented by: Veronica Guerrieri, University of Chicago, GSB

Session 53: Capital Flows II

Session type: invited
Session JEL code: F
Date: June 29, 2007
Time: 15:45 - 17:45
Location: S11 Room 117
 

Enforcement, Incomplete Contracts, and Firm Dynamics
   Presented by: Cristina Arellano, University of Minnesota
 

Financial Integration, Financial Deepness and Global Imbalance
   Presented by: Enrique G. Mendoza, University of Maryland
 

Optimal external debt and default
   Presented by: Bernardo Guimaraes, London School of Economics
 

Investment Cycles and Sovereign Debt (formerly Efficient Expropriation)
   Presented by: Mark Aguiar, University of Rochester

Session 54: Search Frictions in Labor and Product Markets

Session type: contributed
Session JEL code: E2, E3
Date: June 29, 2007
Time: 15:45 - 17:45
Location: S3 Room 319
 

Matching with Precautionary Savings
   Presented by: Aysegul Sahin, Federal Reserve Bank of New York
 

Comparative Advantage in Cyclical Unemployment
   Presented by: Yongsung Chang, Seoul National University
 

Joint Search: New Opportunities and New Frictions
   Presented by: Bulent Guler, University of Texas at Austin
 

Dynamic Pricing in a Frictional Product Market
   Presented by: Guido Menzio, University of Pennsylvania

Session 55: Household Income Risk

Session type: contributed
Date: June 29, 2007
Time: 15:45 - 17:45
Location: S8 Room 123
 

Inferring Labor Income Risk from Economic Choices: An Indirect Inference Approach
JEL codes: J01
   Presented by: Anthony Smith, Yale
 

Risk-Sharing: The Importance of Health Expenditure Shocks
   Presented by: Karsten Jeske, Federal Reserve Bank of Atlanta
 

Are turbulences of Sargent and Ljungqvist consistent with lower aggregate volatility?
   Presented by: Anna Batyra, Catholic University of Louvain
 

Family Labor Supply, Precautionary Behavior, Aggregate Saving and Employment
   Presented by: Paulo Monteiro, Université Libre de Bruxelles

Session 56: CNB Session: Macroeconomic Policy and Inflation Targeting

Session type: invited
Date: June 29, 2007
Time: 15:45 - 17:45
Location: S9 Room 119
 

Inquiries on Dynamics of Transition Economy Convergence in a Two-Country Model
JEL codes: F12, F36, F41
   Presented by: Jan Bruha, Czech National Bank
 

Bayesian and Adaptive Optimal Policy under Model Uncertainty
   Presented by: Lars Svensson, Princeton University
 

Trade Openness and Monetary Policy Rules
   Presented by: Ondra Kamenik, Czech National Bank
 

Recognizing and Communicating Uncertainty in Monetary Policy Projections
   Presented by: Christopher Sims, Princeton University

Session 57: Auctions, Search, and Matching

Session type: invited
Date: June 29, 2007
Time: 15:45 - 17:45
Location: S10 Room 118
 

Strategic Foundations of Prediction Markets and the Efficient Markets Hypothesis
   Presented by: Ricardo Serrano-Padial, University of California, San Diego
 

Bilateral Matching and Bargaining with Private Information
   Presented by: Artyom Shneyerov, UBC
 

Job Market Signaling and Employer Learning
   Presented by: Julien Prat, Vienna University
 

A Search-Theoretic Model of the Retail Market for Illegal Drugs
   Presented by: Manolis Galenianos, Pennsylvania State University

Session 58: Scale and the Macroeconomy

Session type: contributed
Date: June 29, 2007
Time: 15:45 - 17:45
Location: S4 Room 317
 

Financing Scale and Relative Prices
   Presented by: Francisco BUERA, Northwestern University
 

Spin-offs and the Market for Ideas
   Presented by: Esteban Rossi-Hansberg, Princeton University
 

New Goods and the Size Distribution of Firms
   Presented by: Erzo Luttmer, University of Minnesota

Session 59: Innovation and Growth

Session type: contributed
Date: June 29, 2007
Time: 15:45 - 17:45
Location: S7 Room 217
 

An R&D-based Model of Multi-sector Growth
JEL codes: D24 O31 O41 O47
   Presented by: Roberto Samaniego, George Washington University
 

Endogenous Growth and Investment-Specific Innovations - Evidence and Predictions
   Presented by: Max Elger, Stockholm School of Economics
 

Intergenerational Bargaining in Technology Adoption
   Presented by: BYEONGJU JEONG, CERGE-EI
 

How Important is Human Capital? A Quantitative Theory Assessment of World Income Inequality
   Presented by: Diego Restuccia, University of Toronto

Session 60: Credit Market Imperfections

Session type: contributed
Date: June 29, 2007
Time: 15:45 - 17:45
Location: S12 Room 109
 

A note on borrowing limits and welfare
JEL codes: E21, E27
   Presented by: Francesc Obiols-Homs, UAB
 

Credit Constraints, Entrepreneurial Activity, and Occupational Choice under Risk
   Presented by: Christiane Clemens, Otto-von-Guericke University Magdeburg
 

Preferences for risk in a dynamic model with consumption commitments
   Presented by: Galina Vereshchagina, University of Iowa
 

Equilibrium Default with Limited Commitment
   Presented by: Hugo A. Hopenhayn, UCLA

Session 61: Housing

Session type: contributed
Date: June 29, 2007
Time: 15:45 - 17:45
Location: S5 Room 219
 

From Shirtsleeves to Shirtsleeves in a Long Lifetime
JEL codes: E21
   Presented by: Alexander Michaelides, London School of Economics
 

Housing and Nondurable Consumption
   Presented by: Nancy Stokey, University of Chicago
 

The Role of Housing Collateral in an Estimated Two-Sector Model of the US Economy
   Presented by: Matteo Iacoviello, Boston College
 

Directed Search in the Housing Market
   Presented by: James Albrecht, Georgetown University

Session 62: Plenary Session 2

Session type: invited
Date: June 29, 2007
Time: 18:00 - 19:30
Location: Aula
 

Reputational Values for Dynamic Games
   Presented by: Dilip Abreu, Princeton University

Session 63: Productivity

Session type: contributed
Date: June 30, 2007
Time: 10:00 - 12:00
Location: S4 Room 317
 

Intertemporal Productivity under Fixed Wages and Piece Rates
JEL codes: C23,D82,J33,M52
   Presented by: Harry Paarsch, University of Iowa
 

Explaining Cross-Country Productivity Differences in Retailing
   Presented by: David Lagakos, UCLA
 

A Theory of Transition to a Better Technology
   Presented by: Simona Cociuba, University of Minnesota
 

Privatization’s Impact on Private Productivity: The Case of
   Presented by: Arilton Teixeira, Capixaba Research Foundation

Session 64: The Economics of Networks

Session type: contributed
Date: June 30, 2007
Time: 10:00 - 12:00
Location: S5 Room 219
 

Network Competition with Local Network
JEL codes: D43,L96
   Presented by: Christian Riis,
 

Social Learning and Consumer Demand
   Presented by: Markus Mobius, Harvard University
 

Dynamic Social Interactions: Identification and Characterization
   Presented by: Onur Ozgur, University of Montreal
 

Dynamic Price Competition with Network Effects
   Presented by: Luis Cabral, New York University

Session 65: Business Cycles

Session type: contributed
Date: June 30, 2007
Time: 10:00 - 12:00
Location: S12 Room 109
 

Monopoly Power and Endogenous Variety in Dynamic Stochastic General Equilibrium: Distortions and Remedies
JEL codes: D42; E20; H21
   Presented by: Fabio Ghironi, Boston College
 

International Trade and Comovement of Business Cycles
   Presented by: Andrei Levchenko, International Monetary Fund
 

Investment Spikes: New Facts and a General Equilibrium Exploration
   Presented by: Francois Gourio, Boston University
 

Collateral constraint and news-driven cycles
   Presented by: Tomoyuki Nakajima, Kyoto University

Session 66: Human Capital and Wage Dynamics

Session type: contributed
Date: June 30, 2007
Time: 10:00 - 12:00
Location: S8 Room 123
 

Estimating the Technology of Cognitive and Noncognitive Skill Formation
JEL codes: C31, J13
   Presented by: Flavio Cunha, University of Chicago
 

Career and Skill Formation: A Dynamic Occupational Choice Model With Multidimensional Skills
   Presented by: Shintaro Yamaguchi, McMaster University
 

Wage Dynamics of Single and Married Men
   Presented by: Maurizio Mazzocco, UCLA

Session 67: Inflation

Session type: invited
Session JEL code: E4, E5
Date: June 30, 2007
Time: 10:00 - 12:00
Location: S6 Room 218
 

The Welfare Cost of Expected and Unexpected Inflation
JEL codes: E52
   Presented by: Miquel Faig, University of Toronto
 

Idiosyncratic Uncertainty, Inflation and Welfare
   Presented by: Miguel Molico, Bank of Canada
 

Elastic Money, Settlement, and Interest Rate Policy
   Presented by: Allen Head, Queen's University
 

Avoiding the Inflation Tax
   Presented by: Huberto Ennis, Federal Reserve Bank of Richmond

Session 68: Long-run Risks and the Macroeconomy

Session type: invited
Session JEL code: E3,G12
Date: June 30, 2007
Time: 10:00 - 12:00
Location: S9 Room 119
 

Learning and the Role of Macroeconomic Factors in the Term Structure of Interest Rates
JEL codes: D83,
   Presented by: Robert Tetlow, Federal Reserve Board
 

Long-Run Risk through Consumption Smoothing
   Presented by: Lars Lochstoer, London Business School
 

The Wealth-Consumption Ratio: A Litmus Test for Consumption-Based Asset Pricing Models
   Presented by: Stijn Van Nieuwerburgh, NYU Stern School of Business
 

The Asset Pricing Macro Nexus and Return Cash-Flow Predictability
   Presented by: Amir Yaron, The Wharton School

Session 69: Real Effects of Financial Crises

Session type: invited
Session JEL code: F3,F41,E32
Date: June 30, 2007
Time: 10:00 - 12:00
Location: S7 Room 217
 

Solving the Country Risk-Business Cycles Disconnect: Endogenous Output Collapse in a Model of Sovereign Default
JEL codes: F34, F41
   Presented by: Vivian Zhanwei YUE, New York University
 

Investment during the Korean financial crisis: A structural econometric approach.
   Presented by: Simon Gilchrist, Boston University
 

Persistent Appreciations and Overshooting: A Normative Analysis
   Presented by: Guido Lorenzoni, MIT
 

Credit Constraints, Firm Dynamics and the Transmission of External Financial Shocks
   Presented by: Carlos Urrutia, ITAM

Session 70: Normative Studies of Government Policy

Session type: contributed
Date: June 30, 2007
Time: 10:00 - 12:00
Location: S11 Room 117
 

Hidden Wealth, Unemployment Insurance, and Employment Duration: The Optimal Shape of UI Benefits in the Presence of Layoff Risk
JEL codes: D82, E24, J65
   Presented by: Nicola Pavoni, UCL
 

Optimal Retirement Benefit Guarantees
   Presented by: Stavros Panageas, The Wharton School - Univ. of Penn.
 

Dynamic Regulation of Public Good Quality
   Presented by: Fabien MOIZEAU, public
 

Optimal Fiscal and Monetary Policy when Money is Essential
   Presented by: S. Boragan Aruoba, University of Maryland

Session 71: Applied Theory

Session type: contributed
Date: June 30, 2007
Time: 10:00 - 12:00
Location: S10 Room 118
 

Cheap Talk on the Circle
JEL codes: D83
   Presented by: Dragan Filipovich, El Colegio de Mexico, CEE
 

Campaigns as Coordination Devices
   Presented by: Mehmet Ekmekci, Northwestern University
 

Do Voters Vote Sincerely?
   Presented by: Arianna Degan, University of Quebec at Montreal
 

Recursive equilibrium in stochastic OLG economies
   Presented by: Alessandro Citanna, HEC - Paris

Session 72: Taxes and Tax Reform

Session type: contributed
Date: June 30, 2007
Time: 10:00 - 12:00
Location: S3 Room 319
 

Altruism, Incomplete Markets, and Tax Reform
JEL codes: E2,
   Presented by: Selahattin Imrohoroglu, University of Southern California
 

Taxes, Transfers and Time Use: Fiscal Policy in a Model of Household Production
   Presented by: Kelly Ragan, Stockholm School of Economics
 

Moral sentiments, democracy and redistributive politics: between nature and culture
   Presented by: Gilles Le Garrec, OFCE
 

Optimal Government Policies in Models with Heterogeneous Agents
   Presented by: Michal Kejak, CERGE-EI

Session 73: Capital Flows III

Session type: contributed
Date: June 30, 2007
Time: 13:15 - 15:15
Location: S7 Room 217
 

Systemic Liquidity and the Composition of Foreign Investment: Theory and Empirical Evidence
   Presented by: Hui Tong, International Monetary Fund
 

Capital Flows and Moral Hazard
   Presented by: Viktor Tsyrennikov, NYU/Cornell
 

The composition of capital flows when emerging market firms face financing constraints
   Presented by: Katherine Smith,
 

Technology Capital and the U.S. Current Account
   Presented by: Ellen McGrattan, Federal Reserve Bank of Minneapolis

Session 74: Price Competition

Session Chair: jan eeckhout, University of Pennsylvania
Session type: invited
Date: June 30, 2007
Time: 13:15 - 15:15
Location: S3 Room 319
 

Competing Through Information Provision
JEL codes: D82,D43,D44,D00
   Presented by: Jean Guillaume Forand, University of Toronto
 

Competitive Equilibria in Decentralized Matching with Incomplete Information
   Presented by: Alp Atakan, Northwestern University
 

Matching, Pricing, and Quality Investment
   Presented by: Shouyong Shi, University of Toronto
 

The Sorting Effect of Price Competition
   Presented by: jan eeckhout, University of Pennsylvania

Session 75: Bankruptcy, Collateral, and Default

Session type: contributed
Date: June 30, 2007
Time: 13:15 - 15:15
Location: S10 Room 118
 

Optimal Personal Bankruptcy Design: A Mirrlees Approach
   Presented by: Borys Grochulski, Federal Reserve Bank of Richmond
 

Collateral Secured Loans in a Monetary Economy
   Presented by: Leo Ferraris, Universidad Carlos III de Madrid
 

Credit and Inflation under Borrowers' Lack of Commitment
   Presented by: Antonia Diaz, Universidad Carlos III de Madrid
 

A Continuous-Time Analysis of Optimal Debt Contracts: Theory and Applications
   Presented by: Hisashi Nakamura, University of Tokyo

Session 76: Economics of Energy and Non-renewable Resources, Supported by CEZ

Session type: invited
Date: June 30, 2007
Time: 13:15 - 15:15
Location: S9 Room 119
 

Running out of the Devil's Excrement
JEL codes: E32, Q31,Q41
   Presented by: Andrew Scott, London Business School
 

Oil dependence and Economic Instability
   Presented by: Luis Aguiar-Conraria, public
 

Plants, Vintage Capital and Energy Use
   Presented by: Luis Puch, Universidad Complutense
 

Measuring oil-price shocks using market-based information
   Presented by: Michele Cavallo, Federal Reserve Bank of San Francisco

Session 77: Risk Sharing

Session type: contributed
Date: June 30, 2007
Time: 13:15 - 15:15
Location: S5 Room 219
 

Risk Sharing, Informal Networks and Living Arrangements
JEL codes: J12, J15, R23
   Presented by: Giorgio Topa, Federal Reserve Bank of New York
 

Risk Sharing under Limited Committment
   Presented by: Arpad Abraham, University of Rochester
 

Heterogeneity, Risk Sharing and the Welfare Costs of Risk
   Presented by: Sam Schulhofer-Wohl, University of Chicago
 

Marital Instability and the Distribution of Wealth
   Presented by: Nezih Guner, Universidad Carlos III de Madrid

Session 78: The Labor Supply of Women and Wage Inequality

Session type: contributed
Date: June 30, 2007
Time: 13:15 - 15:15
Location: S4 Room 317
 

Increasing idiosyncratic risk and converging gender differentials in the labor market
JEL codes: J24, J31
   Presented by: Donghoon Lee, New York University
 

GENDER AND DYNAMIC AGENCY: THEORY AND EVIDENCE ON THE COMPENSATION OF FEMALE TOP EXECUTIVES
   Presented by: Claudia Olivetti, Boston University
 

Financial Development and Wage Inequality: Theory and Evidence from US States
   Presented by: Michal Jerzmanowski, Clemson University
 

Nature or Nurture? Learning and Female Labor Force Dynamics
   Presented by: Alessandra Fogli, NYU and Minneapolis Fed

Session 79: Bubbles and Expectations

Session type: contributed
Date: June 30, 2007
Time: 13:15 - 15:15
Location: S11 Room 117
 

The geography of female labor force participation and the spread of cultural information
   Presented by: Laura Veldkamp, NYU Stern
 

Vintage Capital and Expectations Driven Business Cycles
   Presented by: Martin Floden, Stockholm School of Economics
 

Rational and Near-Rational Bubbles Without Drift
   Presented by: Kevin Lansing, Federal Reserve Bank of San Francisco
 

Information Flows and Aggregate Persistence
   Presented by: Oleksiy Kryvtsov, Bank of Canada

Session 80: Monetary Policy

Session type: contributed
Date: June 30, 2007
Time: 13:15 - 15:15
Location: S12 Room 109
 

Optimal Monetary Policy in a Medium Scale Model for Emerging Markets
JEL codes: F3,
   Presented by: Christopher Otrok, University of Virginia
 

Optimal Monetary Policy under Asset Market Segmentation
   Presented by: Rajesh Singh, iowa state university
 

Inflation Forecasts, Monetary Policy and Unemployment Dynamics: Evidence from the US and the Euro area
   Presented by: Carlo Altavilla, University of Naples Parthenope
 

Vacancies, Unemployment, and the Phillips Curve
   Presented by: Federico Ravenna, University of California Santa Cruz

Session 81: Investment

Session type: contributed
Date: June 30, 2007
Time: 13:15 - 15:15
Location: S6 Room 218
 

Lumps and Clusters in Duopolistic Investment Games: An Early Exercise Premium Approach
JEL codes: C73, D21, D81
   Presented by: Doriana Ruffino, Boston University
 

Resuscitating Time-to-Build
   Presented by: David Lucca, Board of Governors of the F.R.S.
 

Housing Prices and Growth
   Presented by: James Kahn, Federal Reserve Bank of New York
 

The y-Theory of Investment
   Presented by: Thomas Philippon, Stern School of Business, New York Unive

Session 82: Dynamic Contracts

Session Chair: Noah Williams, Princeton University
Session type: invited
Date: June 30, 2007
Time: 13:15 - 15:15
Location: S8 Room 123
 

The Dynamics of Managerial Ownership: Equilibrium Determinants
JEL codes: G32, G34
   Presented by: Antonio Falato, Federal Reserve Board
 

Disagreement and Learning in a Dynamic Contracting Model
   Presented by: Mark Westerfield, University of Southern California
 

Optimal Mortgage Design
   Presented by: Tomasz Piskorski, NYU Stern / Columbia GSB
 

Persistent Private Information
   Presented by: Noah Williams, Princeton University

Session 83: The Dynamics of Beliefs: Theory and Applications

Session type: invited
Date: June 30, 2007
Time: 15:45 - 17:45
Location: S3 Room 319
 

Non-Equilibrium Learning with Heterogeneous Priors
   Presented by: Drew Fudenberg, Harvard University
 

A Theory of Religion: Linking Individual Beliefs,
   Presented by: Gilat Levy, London School of Economics

Session 84: Empirical Monetary Economics

Session type: contributed
Date: June 30, 2007
Time: 15:45 - 17:45
Location: S6 Room 218
 

Estimating a Cagan-type demand function for gold: 1561-1913
JEL codes: E41
   Presented by: Alexei Deviatov, New Economic School
 

Speed of euro adoption
   Presented by: Francesco Columba, Bank of Italy
 

Saving and credit market development
   Presented by: Matteo Pignatti, New York University
 

Breaking the New Keynesian Dichotomy: Asset Market Segmentation and the Monetary Transmission Mechanism
   Presented by: Julia Thomas, Federal Reserve Bank of Philadelphia

Session 85: Labor Search

Session type: contributed
Date: June 30, 2007
Time: 15:45 - 17:45
Location: S9 Room 119
 

The Aggregate Implications of Indivisible Labor, Incomplete Markets and Search Frictions
JEL codes: J63, J64, D52
   Presented by: Per Krusell, Princeton University
 

Wage Dispersion and Wage Dynamics Within and Across Firms
   Presented by: Eric Smith, University of Essex
 

Small Markets
   Presented by: Espen Moen, Norwegian School of Management (BI)
 

Search by Committee
   Presented by: Susan Vroman, Georgetown University

Session 86: Life Cycle

Session type: contributed
Date: June 30, 2007
Time: 15:45 - 17:45
Location: S4 Room 317
 

Household Life Cycle Location Choices and the Dynamics ofMetropolitan Communities
   Presented by: Holger Sieg, Carnegie Mellon University
 

Inequality and the Lifecycle
   Presented by: Greg Kaplan, New York University
 

Lifecycle marriage matching: Theory and Evidence
   Presented by: Eugene Choo, University of Toronto
 

Hours Volatility over the Life Cycle: The Role of Learning by Doing
   Presented by: Gary Hansen, UCLA

Session 87: Prices and Pricing

Session type: contributed
Date: June 30, 2007
Time: 15:45 - 17:45
Location: S5 Room 219
 

Price stickiness in Ss models: new interpretations for old results
JEL codes: E32, E62.
   Presented by: Eduardo Engel, Yale University
 

Measuring changes in the value of the numeraire
   Presented by: Ricardo Reis, Princeton University
 

“Lumpy Trade and the Price of Imports in Large Devaluations.”
   Presented by: Joseph Kaboski, Ohio State University
 

Real Estate Prices in Production Economies
   Presented by: Ivan Jaccard, Wharton

Session 88: Liquidity and Financial Frictions

Session type: contributed
Date: June 30, 2007
Time: 15:45 - 17:45
Location: S10 Room 118
 

International Seigniorage Payments
JEL codes: F32,F33,F34
   Presented by: Benjamin Eden, Vanderbilt University
 

Liquidity Provision and Banking Crises with Heterogeneous Agents
   Presented by: Matias Fontenla, University of New Mexico
 

Capital Reallocation, Productivity, and Expectation-Driven Business Cycles
   Presented by: Kaiji Chen, University of Oslo
 

Agency Costs, Net Worth and Endogenous Business Fluctuations
   Presented by: giovanni favara, public

Session 89: Firm Financing

Session type: contributed
Date: June 30, 2007
Time: 15:45 - 17:45
Location: S8 Room 123
 

A Dynamic Theory of Optimal Capital Structure
JEL codes: G3
   Presented by: Harold Cole,
 

Firm Heterogeneity and the Long-Run Effects of Dividend Tax Reform
   Presented by: Jianjun Miao, Boston University
 

A dynamic theory of the pecking-order based upon repeated signalling
   Presented by: Dmitry Livdan, Texas A&M University
 

Levered Returns
   Presented by: Lukas Schmid, University of Pennsylvania

Session 90: Great Depressions

Session type: contributed
Date: June 30, 2007
Time: 15:45 - 17:45
Location: S11 Room 117
 

Was the New Deal Contractionary?
JEL codes: E52, E62, E65,
   Presented by: Gauti Eggertsson, Federal Reserve Bank of New York
 

Real Origins of the Great Depression: Monopoly Power, Unions and the American Business Cycle in the 1920s
   Presented by: Monique Ebell, Humboldt-University of Berlin
 

Baby Busts and Baby Booms: A Cross-Country Study of Fertility Responses to Depressions and War Capital
   Presented by: Alice Schoonbroodt, University of Southampton
 

Accounting for the French Great Depression
   Presented by: Slim Bridji, University of Paris X and EconomiX

Session 91: International Dimensions of Fiscal and Monetary Policy

Session type: contributed
Date: June 30, 2007
Time: 15:45 - 17:45
Location: S7 Room 217
 

The Non--Monotonic Relationship between Interest Rates and Exchange Rates
JEL codes: F3, F4
   Presented by: Viktoria Hnatkovska, University of British Columbia
 

A Party without a Hangover? On the Effects of U.S. Government Deficits
   Presented by: Michael Kumhof, Stanford University
 

International Dimensions of Fiscal Policy Transmission
   Presented by: Gernot Mueller, Goethe University Frankfurt
 

On the Relevance of Exchange Rate Regimes for Stabilization Policy
   Presented by: Bernardino Adao, Banco de Portugal

Session 92: Growth and Development

Session type: contributed
Date: June 30, 2007
Time: 15:45 - 17:45
Location: S12 Room 109
 

Factor-Eliminating Technical Change
JEL codes: O40, O31, O33
   Presented by: John Seater, North Carolina State University
 

Development Accounting in a Heckscher-Ohlin World
   Presented by: Harald Fadinger, Unversitat Pompeu Fabra
 

Optimal Technology and Development
   Presented by: Hernan Moscoso Boedo, University of Virginia
 

Social Attitudes and Macroeconomic Performance:
   Presented by: Yann Algan, Paris School of economics

Session 93: Plenary Session 3

Session type: invited
Date: June 30, 2007
Time: 18:00 - 19:30
Location: Aula
 

Plenary Session
   Presented by: Robert Shimer, University of Chicago

This program was last updated on 2007-07-04 11:13:47 EDT