Society for Economic Dynamics

Summary of All Sessions

#Date/TimeTitlePapers
1July 2, 2009
10:00-12:00
Health Choices4
2July 2, 2009
10:00-2:00
Labor Supply4
3July 2, 2009
10:00-12:00
Bond and Stock Pricing4
4July 2, 2009
10:00-12:00
Optimal Contracts with Moral Hazard4
5July 2, 2009
10:00-12:00
Dynamic Games: Theory and Applications4
6July 2, 2009
10:00-12:00
Productivity in Open Economies4
7July 2, 2009
10:00-12:00
International Relative Prices4
8July 2, 2009
10:00-12:00
Monetary Policy and Imperfect Information4
9July 2, 2009
10:00-12:00
Housing Markets4
10July 2, 2009
10:00-12:00
News and Shocks4
11July 2, 2009
10:00-2:00
The Causes and Consequences of Culture4
12July 2, 2009
10:00-12:00
Growth and Public Goods in the World Economy4
13July 2, 2009
13:15-15:15
Macro-Asset Pricing4
14July 2, 2009
13:15-15:15
Economic Development4
15July 2, 2009
13:15-15:15
Trade and the Business Cycle4
16July 2, 2009
13:15-15:15
The Welfare State and Employment4
17July 2, 2009
13:15-15:15
New Developments in Industrial Organization4
18July 2, 2009
13:15-13:15
Inferring Labor Income Risk from Income Data and Economic Choices4
19July 2, 2009
13:15-15:15
Social Security and Demographics4
20July 2, 2009
13:15-15:15
Uncertainty, Financial Markets and Business Cycles4
21July 2, 2009
13:15-15:15
Sovereign Default4
22July 2, 2009
13:15-15:15
Social Networks4
23July 2, 2009
13:15-15:15
Models of Reputation4
24July 2, 2009
13:15-15:15
Monetary Policy and the Business Cycle4
25July 2, 2009
15:45-17:45
Empirical Labor Economics4
26July 2, 2009
15:45-17:45
Firm and Market Dynamics4
27July 2, 2009
15:45-17:45
Trade Dynamics4
28July 2, 2009
15:45-17:45
Household Structure and Labor Supply4
29July 2, 2009
15:45-17:45
Aggregate Implications of Financial Frictions4
30July 2, 2009
15:45-17:45
Topics on Social Security4
31July 2, 2009
15:45-17:45
Monetary Policy and Financial Market Structure4
32July 2, 2009
15:45-17:45
Search Theory4
33July 2, 2009
15:45-17:45
Housing in Macroeconomics4
34July 2, 2009
15:45-17:45
Labor Markets and the Business Cycle4
35July 2, 2009
15:45-17:45
Information Aggregation in Markets: Theory and Evidence4
36July 2, 2009
15:45-17:45
Empirical Studies on the Turkish Economy 14
37July 3, 2009
10:00-12:00
Search and Matching Financial Markets4
38July 3, 2009
10:00-12:00
Taxation with Frictions4
39July 3, 2009
10:00-12:00
Political Economy4
40July 3, 2009
10:00-12:00
RED Mini-Conference on Sources of Business-Cycle Fluctuations, Session 13
41July 3, 2009
10:00-12:00
Families and Development4
42July 3, 2009
10:00-12:00
Education and Human Capital4
43July 3, 2009
10:00-12:00
Mortgages and Foreclosure4
44July 3, 2009
10:00-12:00
Optimal Monetary and Fiscal Policy4
45July 3, 2009
10:00-12:00
Exchange Rates & Prices4
46July 3, 2009
10:00-12:00
Learning in Macro and Finance4
47July 3, 2009
10:00-12:00
Models of Community Interaction4
48July 3, 2009
10:00-12:00
Empirical Studies on the Turkish Economy 23
49July 3, 2009
10:00-12:00
Open Economy Issues 4
50July 3, 2009
13:15-15:45
Corporate Finance4
51July 3, 2009
13:15-15:15
RED Mini-Conference on Sources of Business-Cycle Fluctuations, Session 23
52July 3, 2009
13:15-15:15
Adverse Selection and General Equilibrium4
53July 3, 2009
13:15-15:15
Multiple Sectors and Growth4
54July 3, 2009
13:15-15:15
Employment Contracts in General Equilibrium4
55July 3, 2009
13:15-15:15
Trade & Technology Adoption4
56July 3, 2009
13:15-15:15
Monetary Policy in Open Economies4
57July 3, 2009
13:15-15:15
Uncertainty, Asset Prices and Business Cycles 4
58July 3, 2009
13:15-15:15
Intergenerational Transfers4
59July 3, 2009
13:15-15:15
Mechanism Design4
60July 3, 2009
13:15-15:15
Structural Change, Business Cycles and Monetary Policy4
61July 3, 2009
13:15-15:15
Tax Policy: Theory & Quantitative Evaluation4
62July 3, 2009
15:45-17:45
New Perspectives on International Capital Flows4
63July 3, 2009
15:45-17:45
Insurance for Health and Longevity Risk4
64July 3, 2009
15:45-17:45
Sorting4
65July 3, 2009
15:45-17:45
Investment Frictions4
66July 3, 2009
15:45-17:45
The Economics of the Family: Marriage, Education, and Labor Supply4
67July 3, 2009
15:45-17:45
Public Policy and Political Economy Distortions4
68July 3, 2009
15:45-17:45
RED Mini-Conference on Sources of Business-Cycle Fluctuations, Session 33
69July 3, 2009
15:45-17:45
Banking and Financial Markets4
70July 3, 2009
15:45-17:45
Models of Organizations4
71July 3, 2009
15:45-17:45
Reacting to New Information: Theory and Applications4
72July 3, 2009
15:45-17:45
Employment and the Life Cycle4
73July 3, 2009
15:45-17:45
Empirical Methods for Policy Analysis4
74July 4, 2009
10:00-12:00
Consumption Smoothing and Insurance4
75July 4, 2009
10:00-12:00
Macroeconomic Effects of Oil Price Shocks4
76July 4, 2009
10:00-12:00
Productivity4
77July 4, 2009
10:00-12:00
Current Account Dynamics4
78July 4, 2009
10:00-12:00
Finance and Recessions4
79July 4, 2009
10:00-12:00
Search and Matching4
80July 4, 2009
10:00-12:00
Trade & Growth4
81July 4, 2009
10:00-12:00
Product Creation and Destruction4
82July 4, 2009
10:00-12:00
New Dynamic Public Finance4
83July 4, 2009
10:00-12:00
Expectations in DSGE Models4
84July 4, 2009
10:00-12:00
Bargaining in a Non-stationary Environment4
85July 4, 2009
10:00-12:00
Credit Risk: Theory & Measurement4
86July 4, 2009
10:00-12:00
Studies on Crises, Pollution and Trade3
87July 4, 2009
13:15-15:15
Applied Macroeconomic Analyses with DSGE Models 4
88July 4, 2009
13:15-15:15
Monetary Economics4
89July 4, 2009
13:15-15:15
Empirical Methods in Microeconomics4
90July 4, 2009
13:15-15:15
Heterogeneity and Growth4
91July 4, 2009
13:15-15:15
Political Economy4
92July 4, 2009
13:15-15:15
Matching in Labor Markets4
93July 4, 2009
13:15-15:15
Trading Risk in International Financial Markets4
94July 4, 2009
13:15-15:15
Firm Risk and Asset Prices4
95July 4, 2009
13:15-15:15
Empirical Industrial Organization4
96July 4, 2009
13:15-15:15
Real Effects of Credit Market Imperfections4
97July 4, 2009
13:15-15:15
Trade & Firm Heterogeneity4
98July 4, 2009
13:15-15:15
Topics on Crises and Growth4
99July 4, 2009
15:45-17:45
The Role of Beliefs in Asset pricing4
100July 4, 2009
15:45-17:45
The Welfare Consequences of International Financial Integration4
101July 4, 2009
15:45-17:45
Micro-foundations of Pricing4
102July 4, 2009
15:45-17:45
Understanding Consumption Behavior4
103July 4, 2009
15:45-17:45
Advances in Computation of Dynamic Economies4
104July 4, 2009
15:45-17:45
Household Credit & Bankruptcy4
105July 4, 2009
15:45-17:45
Trade & Inequality4
106July 4, 2009
15:45-15:45
Dynamic Games and Reputation4
107July 4, 2009
15:45-17:45
Firm Heterogeneity & Macro4
108July 4, 2009
15:45-17:45
New Elements in Business Cycle Models4
109July 4, 2009
15:45-17:45
Search and Contracts in the Labor Market4
110July 4, 2009
15:45-17:45
Optimal Fiscal Policy4
 

110 sessions, 435 papers


 

Society for Economic Dynamics

Complete List of All Sessions


Session 1: Health Choices

Date: July 2, 2009
Time: 10:00 - 12:00
 

Caught in the Bulimic Trap: Do Eating Disorders Reflect Addictive Behavior?
By Michelle S. Goeree, John C. Ham, and Daniela Iorio University of Southern California, Maryland, Universitat Autonoma de Barcelona
   Presented by: Daniela Iorio, Universitat Autonoma de Barcelona
 

Peer Effects vs Personal Preferences in Smoking Choices: Estimating a Social Interactions Model
By Alberto Bisin; New York University Andrea Moro; Vanderbilt University Giorgio Topa; Federal Reserve Bank of New York
   Presented by: Andrea Moro, Vanderbilt University
 

How Beliefs about HIV Affect Risky Behaviors: Evidence from Malawi
By Aureo de Paula; University of Pennsylvania Gil Shapira; University of Pennsylvania Petra Todd; University of Pennsylvania
   Presented by: Aureo de Paula, University of Pennsylvania
 

HIV and Fertility in Africa: First Evidence from Population Based Surveys
By Chinhui Juhn; University of Houston and NBER Sebnem Kalemli-Ozcan; University of Houston and NBER Belgi Turan; University of Houston
   Presented by: Belgi Turan, University of Houston

Session 2: Labor Supply

Date: July 2, 2009
Time: 10:00 - 2:00
 

Comparative Advantage and Aggregate Unemployment
By Mark Bils (University of Rochester) Yongsung Chang (University of Rochester and Yonsei University) Sun-Bin Kim (Korea University)
   Presented by: Yongsung Chang, University of Rochester / Yonsei Univers
 

A Quantitative Theory of Labor Supply with Heterogeneous Agents: From Individual to Macro Elasticities
By Andres Erosa, IMDEA and University of Toronto Luisa Fuster, IMDEA and University of Toronto Gueorgui Kambourov, University of Toronto
   Presented by: Gueorgui Kambourov, University of Toronto
 

labor supply in a frictional labor market
By Per Krusell Princeton University Toshihiko Mukoyama University of Virginia Richard Rogerson Arizona State University Aysegul Sahin Federal Reserve Bank of New York
   Presented by: Richard Rogerson, Arizona State University
 

Inequality, Hours and Labor Market Participation
By Claudio Michelacci, CEMFI Josep Pijoan-Mas, CEMFI
   Presented by: Josep Pijoan-Mas, CEMFI

Session 3: Bond and Stock Pricing

Date: July 2, 2009
Time: 10:00 - 12:00
 

Risk Premia on Equity and Debt in a DSGE Model with Long-Run Real and Nominal Risks
By Glenn Rudebusch (Federal Reserve Bank of San Francisco) Eric Swanson (Federal Reserve Bank of San Francisco)
   Presented by: Eric Swanson, Federal Reserve Bank of San Francisco
 

Decomposing the Yield Curve
By John Cochrane, Chicago GSB Monika Piazzesi, Stanford University
   Presented by: Monika Piazzesi, Stanford University
 

The Cyclical Component of US Asset Returns
[slides]
By David K. Backus, New York University Bryan R. Routledge, Carnegie Mellon University Stanley E. Zin, Carnegie Mellon University
   Presented by: Stanley Zin, Carnegie Mellon University
 

The Bond Risk Premium and the Cross-Section of Equity Returns
By Ralph S.J. Koijen - Chicago GSB Hanno Lustig - UCLA Anderson Stijn Van Nieuwerburgh - NYU Stern
   Presented by: Stijn Van Nieuwerburgh, NYU Stern School of Business

Session 4: Optimal Contracts with Moral Hazard

Session Chair: Hector Chade, arizona state university
Date: July 2, 2009
Time: 10:00 - 12:00
 

Providing Incentives for Mortgage Originators
By Arantxa Jarque; Universidad Carlos III de Madrid Ned Prescott; Federal Reserve Bank of Richmond
   Presented by: Arantxa Jarque, Universidad Carlos III de Madrid
 

moral hazard with unobservable wealth and a continuum of actions
By hector chade; arizona state university
   Presented by: Hector Chade, arizona state university
 

Optimal Securitization with Moral Hazard
By Barney Hartman-Glaser; UC Berkeley Haas Tomasz Piskorski; Columbia Business School Alexei Tchistyi; UC Berkeley Haas
   Presented by: Alexei Tchistyi, Haas School of Business, UC Berkeley
 

On the Amplification Role of Collateral Constraints
By Caterina Mendicino, Banco de Portugal, Research Department.
   Presented by: Caterina Mendicino, Bank of Canada

Session 5: Dynamic Games: Theory and Applications

Date: July 2, 2009
Time: 10:00 - 12:00
 

Avoiding Market Dominance: Product Compatibility in Markets with Network Effects
By Jiawei Chen, UC Irvine Ulrich Doraszelski, Harvard Joe Harrington, Johns Hopkins
   Presented by: Ulrich Doraszelski, Harvard University
 

Lumpy Capacity Investment and Disinvestment Dynamics
By David Besanko, Northwestern University Ulrich Doraszelski, Harvard University Lauren Xiaoyuan Lu, University of North Carolina Mark Satterthwaite, Northwestern University
   Presented by: Mark A. Satterthwaite, Northwestern University
 

Finite State Dynamic Games with Asymmetric Information: A Framework for Applied Work
By Chaim Fershtman, Tel Aviv University Ariel Pakes, Harvard University
   Presented by: Ariel Pakes, Harvard University
 

Buyers - Sellers Network: Dynamic Interaction between Hospitals and HMOs
By Chaim Fershtman, Tel Aviv University Ariel Pakes, Harvard University
   Presented by: Chaim Fershtman, The Eitan Berglas School of Economics

Session 6: Productivity in Open Economies

Date: July 2, 2009
Time: 10:00 - 12:00
 

Catching Up and Falling Behind
By Nancy L. Stokey; University of Chicago
   Presented by: Nancy Stokey, University of Chicago
 

Technological Change and the Wealth of Nations
By Gino Gancia; CREI and UPF Fabrizio Zilibotti; Zurich University
   Presented by: Gino Gancia, CREI and UPF
 

Do Intangible Assets Explain High U.S. Foreign Direct Investment Returns?
By Benjamin Bridgman, Bureau of Economic Analysis
   Presented by: Benjamin Bridgman, Bureau of Economic Analysis
 

Financial Frictions and Factor Flows
By Francisco J. Buera; UCLA Yongseok Shin; Washington University at St. Louis
   Presented by: Francisco Buera, University of California at Los Angeles

Session 7: International Relative Prices

Date: July 2, 2009
Time: 10:00 - 12:00
 

Exchange Rates and Producer Prices: Evidence From Micro-Data
By Doireann Fitzgerald, Stanford Stefanie Haller, ESRI
   Presented by: Doireann Fitzgerald, Stanford University
 

Setting The Right Prices for the Wrong Reasons
By Christian Hellwig, UCLA and CEPR Venky Venkateswaran, UCLA
   Presented by: Vaidyanathan Venkateswaran, UCLA
 

The Puzzling Behavior of Sectoral Real Exchange Rates
By Patrick Kehoe; FRB Minneapolis & U. of Minnesota Virgiliu Midrigan; NYU
   Presented by: Virgiliu Midrigan, New York University
 

A Model of International Cities: Implications for Real Exchange Rates
By Mario Crucini; Vanderbilt Hakan Yilmazkuday; Vanderbilt
   Presented by: HAKAN YILMAZKUDAY, TEMPLE UNIVERSITY

Session 8: Monetary Policy and Imperfect Information

Session Chair: Marc Giannoni, COLUMBIA UNIVERSITY
Date: July 2, 2009
Time: 10:00 - 12:00
 

Dispersed Information over the Business Cycle: Optimal Fiscal and Monetary Policy
By George-Marios Angeletos, MIT and NBER Jennifer La'O, MIT
   Presented by: Jennifer La'O, MIT
 

Central Bank's Two-Way Communication with the Public and Inflation Dynamics
By Kosuke Aoki, London School of Economics Takeshi Kimura, Bank of Japan
   Presented by: Kosuke Aoki, London School of Economics
 

News, Noise and Fluctuations: An Empirical Exploration
By Olivier J. Blanchard, IMF and MIT Jean-Paul L'Huillier, MIT Guido Lorenzoni, MIT
   Presented by: Guido Lorenzoni, MIT
 

On the Welfare Costs of Imperfect Information for Monetary Policy
By Jean Boivin (HEC Montreal) Marc P. Giannoni (Columbia University)
   Presented by: Marc Giannoni, Columbia University

Session 9: Housing Markets

Date: July 2, 2009
Time: 10:00 - 12:00
 

House Prices, Sales and Time on the Market: A Search-Theoretic Framework
By Antonia Diaz; Universidad Carlos III Belen Jerez; Universidad Carlos III
   Presented by: Belén Jerez, Universidad Carlos III de Madrid
 

Hot And Cold Seasons in the Housing Market
By Rachel Ngai; LSE Silvana Tenreyro; LSE
   Presented by: Silvana Tenreyro, London School of Economics
 

House Price Dynamics with Heterogeneous Expectations
By Giovanni Favara; HEC University of Lausanne Zheng Song; School of Economics Fudan University
   Presented by: Giovanni Favara, Univeristy of Lausanne
 

Momentum traders in a search model of the housing market
By Monika Piazzesi; Stanford Martin Schneider; Stanford
   Presented by: Martin Schneider, Stanford University

Session 10: News and Shocks

Date: July 2, 2009
Time: 10:00 - 12:00
 

Sector-Specific Technology Shocks and the Business Cycle
By Jonas Fisher, John Fernald, Susanto Basu, Miles Kimball
   Presented by: Jonas Fisher, Federal Reserve Bank of Chicago
 

A Likelihood Analysis of Models with Information Frictions
By Leonardo Melosi; University of Pennsylvania
   Presented by: Leonardo Melosi, University of Pennsylvania
 

Investment-Specific Technology Shocks and Monetary Policy: The View from a Policy-Oriented DSGE model
By Rochelle Edge, Federal Reserve Board Michael Kiley, Federal Reserve Board Jean-Philippe Laforte, Federal Reserve Board
   Presented by: Michael Kiley, Federal Reserve Board
 

What's News in Business Cycles
By Stephanie Schmitt-Grohe Columbia University Martin Uribe Columbia University
   Presented by: Stephanie Schmitt-Grohe, Columbia University

Session 11: The Causes and Consequences of Culture

Date: July 2, 2009
Time: 10:00 - 2:00
 

Trans-Atlantic Slave Trade and the Origins of Mistrust in Africa
By Nathan Nunn Leonard Wantchekon
   Presented by: Nathan Nunn, Harvard University
 

Values and the Macroeconomy
By Paola Giuliano, UCLA Anderson School of Management
   Presented by: Paola Giuliano, UCLA
 

Culture as Learning: The Evolution of Female Labor Force Participation over a Century
By Raquel Fernandez, NYU
   Presented by: Raquel Fernández, New York University
 

Academic Dynasties: Nepotism and Productivity in the Italian Academic System
By Ruben Durante, Brown University Giovanna Labartino, Bocconi University Roberto Perotti, Bocconi University Guido Tabellini, Bocconi University
   Presented by: roberto perotti, Universita' Bocconi

Session 12: Growth and Public Goods in the World Economy

Date: July 2, 2009
Time: 10:00 - 12:00
 

Is Newer Better? Penn World Table Revisions and the Growth Literature
By Simon Johnson; MIT William Larson; George Washington University Chris Papageorgiou; IMF Arvind Subramania; Peterson Institute and John Hopkins
   Presented by: Chris Papageorgiou, IMF
 

Malaria Policy: Alternative Prevention and Eradication Strategies in a Dynamic Model
By Douglas Gollin; Williams College Christian Zimmermann; University of Connecticut
   Presented by: Christian Zimmermann, University of Connecticut
 

A QUANTITATIVE DYNAMIC GENERAL EQUILIBRIUM MODEL OF CLIMATE CHANGE AND THE GLOBAL ECONOMY
By John Hassler; Institute for International Economic Studies Per Krusell; Institute for International Economic Studies and Princeton Conny Olovsson; Institute for International Economic Studies
   Presented by: Per Krusell, Princeton University
 

A Global Equilibrium Model of Economy-Climate Interactions
By Per Krusell; Princeton University and Institute for International Economic Studies (Stockholm) Anthony Smith; Yale University
   Presented by: Anthony Smith, Yale University

Session 13: Macro-Asset Pricing

Date: July 2, 2009
Time: 13:15 - 15:15
 

Accounting for Low Frequency Variation in Tobin's q
By Chris Telmer, Carnegie Mellon University Iulian Obreja, University of Colorado
   Presented by: Christopher Telmer, Carnegie Mellon University
 

The Long and the Short of Asset Prices: Using Long Run Consumption-Return Correlations to Test Asset Pricing Models
By Jianfeng Yu, University of Minnesota
   Presented by: Jianfeng Yu, University of Minnesota
 

Growth opportunities and Investment-Specific Technology Shocks.
By Leonid Kogan, MIT Sloan Dimitris Papanikolaou, Northwestern University
   Presented by: Dimitris Papanikolaou, Northwestern University
 

The Demographics of Innovation and Asset Returns
By Nicolae Garleanu, UC Berkeley, NBER and CEPR Leonid Kogan, MIT and NBER Stavros Panageas, Univ. of Chicago and NBER
   Presented by: Nicolae Garleanu, University of California, Berkeley

Session 14: Economic Development

Date: July 2, 2009
Time: 13:15 - 15:15
 

The Allocation of Talent and Skill Premia Across Countries
By German Cubas; University of Iowa B. Ravikuman; University of Iowa Gustavo Ventura; University of Iowa
   Presented by: Gustavo Ventura, University of Iowa
 

Structural Transformation and Economic Growth
[slides]
By Berthold Herrendorf; Arizona State University Richard Rogerson; Arizona State University Akos Valentinyi; National Bank of Hungary
   Presented by: Akos Valentinyi, University of Southampton
 

The Greatest of All Improvements: Roads, Agriculture, and Economic Development in Africa
By Douglas Gollin; Williams College Richard Rogerson; Arizona State University
   Presented by: Douglas Gollin, Williams College
 

A Spatial Explanation for the Balassa-Samuelson Effect
By Peter Karadi; NYU Miklos Koren; CEU and CEPR
   Presented by: Miklos Koren, Central European University

Session 15: Trade and the Business Cycle

Date: July 2, 2009
Time: 13:15 - 15:15
 

International Trade and Aggregate Fluctuations in Granular Economies
By Julian di Giovanni; IMF Andrei A. Levchenko; University of Michigan
   Presented by: Andrei Levchenko, University of Michigan
 

Trade Elasticity of Substitution and Equilibrium Dynamics
By Federal Reserve Board
   Presented by: Martin Bodenstein, Federal Reserve Board
 

Fiscal Shocks and The Real Exchange Rate
By Agustín S. Bénétrix IIIS, Trinity College Dublin Philip R. Lane IIIS, Trinity College Dublin and CEPR
   Presented by: Agustín Bénétrix, Trinity College Dublin
 

Vertical Specialization and International Business Cycle Synchronization
By Costas Arkolakis; Yale University and NBER Ananth Ramanarayanan; Federal Reserve Bank of Dallas
   Presented by: Ananth Ramanarayanan, Federal Reserve Bank of Dallas

Session 16: The Welfare State and Employment

Session Chair: Rachel Ngai, london school of economics
Date: July 2, 2009
Time: 13:15 - 15:15
 

Taxes and Household Labor Supply
By Kelly Ragan Stockholm School of Economics
   Presented by: Kelly Ragan, Stockholm School of Economics
 

Employment in the US and Europe: The Roles of Taxes and Benefits
By Per Krusell, Princeton University Toshihiko Mukoyama, University of Virginia Richard Rogerson, Arizona State University Aysegul Sahin, Federal Reserve Bank of New York
   Presented by: Aysegul Sahin, Federal Reserve Bank of New York
 

Taxes and employment - is there a Scandinavia puzzle?
By Torben Andersen School of Economics and Management, Aarhus University, CEPR, CESifo and IZA
   Presented by: Torben Andersen, School of Economics and Management
 

Welfare Policy and the Sectoral Distribution of Employment
By Rachel Ngai Christopher Pissarides
   Presented by: Rachel Ngai, london school of economics

Session 17: New Developments in Industrial Organization

Date: July 2, 2009
Time: 13:15 - 15:15
 

Schumpeterian Entrepreneurship
By Serguey Braguinsky; Carnegie Mellon University Steven Klepper; Carnegie Mellon University Atsushi Ohyama; University of Illinois, Urbana-Champaign
   Presented by: Serguey Braguinsky, Carnegie Mellon University
 

Financial Frictions, Internal Capital Markets, and the Organization of Production
By Pavel Sevcik; Universite de Montreal
   Presented by: Pavel Sevcik, Université de Montréal
 

Repeated Tournaments
By Hugo Hopenhayn; UCLA Matthew Mitchell; University of Toronto
   Presented by: Matthew Mitchell, University of Toronto
 

Managerial Effort, Agency, and Industrial Evolution
By Esra Durceylan-Kaygusuz ; Bilkent University Department of Economics
   Presented by: Esra Durceylan, Bilkent University

Session 18: Inferring Labor Income Risk from Income Data and Economic Choices

Session Chair: Martin Browning, Oxford University
Date: July 2, 2009
Time: 13:15 - 13:15
 

Consumption with Heterogeneous Preferences and Heterogeneous Income Processes
By Martin Browning, University of Oxford Sule Alan, Cambridge University Mette Ejrnaes, Copenhagen University
   Presented by: Martin Browning, Oxford University
 

Heterogeneity in income processes
By Andriy Norets; Princeton University Sam Schulhofer-Wohl; Princeton University
   Presented by: Sam Schulhofer-Wohl, Princeton University
 

A Nonparametric Characterization of Income Uncertainty over the Lifecycle
By James Feigenbaum, University of Pittsburgh Geng Li, Federal Reserve Board
   Presented by: Geng Li, The Federal Reserve Board
 

Using Fertility Choices to Estimate Labor Income Shocks
By Flavio Cunha; University of Pennsylvania Fatih Karahan; University of Pennsylvania
   Presented by: Fatih Karahan, University of Pennsylvania

Session 19: Social Security and Demographics

Date: July 2, 2009
Time: 13:15 - 15:15
 

Social Security Reform in a Dynastic Life-Cycle Model with Endogenous Fertility
By Radim Bohacek; CERGE-EI Volha Belush; CERGE-EI
   Presented by: Radim Bohacek, CERGE-EI
 

War Debt and the Baby Boom
By Kai(Jackie) Zhao; University of Western Ontario
   Presented by: Kai(Jackie) Zhao, University of Western Ontario
 

What explains fertility? Evidence from Italian pension reforms
By Francesco C. Billari; Dondena, Università Bocconi and IGIER Vincenzo Galasso; IGIER, Università Bocconi and CEPR
   Presented by: Vincenzo Galasso, IGIER - Università Bocconi
 

Who's afraid of population aging?
By Alexander Ueberfeldt; Bank of Canada
   Presented by: Alexander Ueberfeldt, Bank of Canada

Session 20: Uncertainty, Financial Markets and Business Cycles

Date: July 2, 2009
Time: 13:15 - 15:15
 

Changes in Growth Potential and Endogenous Technology Diffusion as Sources of Output and Asset Price Fluctuations
By Diego Comin HBS Mark Gertler NYU Ana Mara Santacru NYU
   Presented by: Diego Comin, Harvard Business School
 

Collateral constraints, capital specificity and the distribution of production: the role of real and financial frictions in aggregate fluctuations
By Aubhik Khan; The Ohio State University Julia K. Thomas; The Ohio State University and NBER
   Presented by: Julia Thomas, The Ohio State University
 

The Response of Monetary Policy to Financial Distress
By Marco Del Negro, Federal Reserve Bank of New York Gauti Eggertsson, Federal Reserve Bank of New York Andrea Ferrero, Federal Reserve Bank of New York
   Presented by: Marco Del Negro, FRBNY-Research
 

Confronting Models of Financial Frictions with the Data
By Patrick Kehoe, Federal Reserve Bank of Minneapolis V V Chari, University of Minnesota and Federal Reserve Bank of Minneapolis
   Presented by: Patrick Kehoe, Federal Reserve Bank of Minneapolis

Session 21: Sovereign Default

Date: July 2, 2009
Time: 13:15 - 15:15
 

Sovereign Debt Maturity without Commitment
By Dirk Niepelt, Gerzensee/Bern/Stockholm
   Presented by: Dirk Niepelt, Study Center Gerzensee
 

Fiscal Policy and Default Risk in Emerging Markets
By Gabriel Cuadra, Banco de Mexico Juan M. Sanchez, FRB Richmond Horacio Sapriza, Board of Governors FRS and Rutgers University
   Presented by: Horacio Sapriza, Rutgers University and Board of Governors FRS
 

A Solution to the Default Risk-Business Cycle Disconnect
By Enrique G. Mendoza, University of Maryland Vivian Z. Yue, New York University
   Presented by: Enrique G. Mendoza, University of Maryland
 

Sovereign risk and international portfolio dynamics
By Fernando Broner; CREI and Universitat Pompeu Fabra Tatiana Didier; World Bank Aitor Erce; Banco de España Sergio Schmukler; World Bank
   Presented by: Fernando Broner, CREI and Universitat Pompeu Fabra

Session 22: Social Networks

Date: July 2, 2009
Time: 13:15 - 15:15
 

Endogenous job contact networks
By Andrea Galeotti, Essex Luca P. Merlino Autonoma
   Presented by: Andrea Galeotti, University of Essex
 

Modeling and Estimating Biases in Friendship and Network Formation
By Matthew O. Jackson; Stanford University Sergio Currarini; University of Venice Paolo Pin; University of Siena
   Presented by: Matthew O. Jackson, Stanford University
 

Enforcing Cooperation in Networked Societies
By S. Nageeb Ali, UC-San Diego David A. Miller, UC-San Diego
   Presented by: S. Nageeb Ali, UC-San Diego
 

The Dynamics of Social Capital
By Markus Mobius, Harvard University Adam Szeidl, UC-Berkeley
   Presented by: Adam Szeidl, University of California Berkeley

Session 23: Models of Reputation

Date: July 2, 2009
Time: 13:15 - 15:15
 

Optimal Regulation in the Presence of Reputation Concerns
By Andrew Atkeson; UCLA and Minneapolis Fed. Guillermo Ordonez; Minneapolis Fed and Yale University.
   Presented by: Guillermo Ordonez, Federal Reserve Bank of Minneapolis
 

Recursive Bargaining with Endogenous Threats
By Ramon Marimon; European University Institute and Universitat Pompeu Fabra - CREi Pontus Rendahl; University of California, Davis
   Presented by: Ramon Marimon, European University Institute
 

Moral Hazard, Reputation, and Fragility in Credit Markets
By V. V. Chari; University of Minnesota & Federal Reserve Bank of Minneapolis Ali Shourideh; University of Minnesota & Federal Reserve Bank of Minneapolis Ariel Zetlin-Jones; University of Minnesota & Federal Reserve Bank of Minneapolis
   Presented by: Ariel Zetlin-Jones,
 

A Model of Stigma in the Fed Funds Market
By Huberto M. Ennis, Universidad Carlos III de Madrid John A. Weinberg, Federal Reserve Bank of Richmond
   Presented by: Huberto Ennis, Universidad Carlos III de Madrid

Session 24: Monetary Policy and the Business Cycle

Date: July 2, 2009
Time: 13:15 - 15:15
 

Sectoral Price Data and Models of Price Setting
By Bartosz Maćkowiak; European Central Bank Emanuel Moench; Federal Reserve Bank of New York Mirko Wiederholt; Northwestern University
   Presented by: Bartosz Mackowiak, European Central Bank
 

Dynamics of the Price Distribution in a General Model of State-Dependent Pricing
By James Costain; Bank of Spain Anton Nakov; Bank of Spain
   Presented by: James Costain, Banco de España
 

Inflation and Real Activity with Firm Level Productivity Shocks
By Michael Dotsey, Federal Reserve Bank of Philadelphia Robert G. King, Boston University Alexander Wolman, Federal Reserve Bank of Richmond
   Presented by: Michael Dotsey, Federal Reserve Bank of Philadelphia
 

"Precautionary Demand for Money in a Monetary Search Business Cycle Model"
By Irina A. Telyukova; UC San Diego Ludo Visschers; Simon Fraser University
   Presented by: Irina Telyukova, University of California San Diego

Session 25: Empirical Labor Economics

Date: July 2, 2009
Time: 15:45 - 17:45
 

Promotion, Turnover and Compensation in the Executive Market
By George-Levi Gayle, Limor Golan, Robert A. Miller Carnegie Mellon
   Presented by: Limor Golan, Carnegie Mellon U.
 

Higher Education Subsidies and Human Capital Mobility
By John Kennan; University of Wisconsin-Madison and NBER
   Presented by: John Kennan, University of Wisconsin Madison
 

Understanding the City Size Wage Gap
By Ronni Pavan; University of Rochester Nathaniel Baum-snow; Brown University
   Presented by: Ronni Pavan, University of Rochester
 

Job Ladders, Human Capital, and Wage Inequality over Time
By Burhanettin Kuruscu; University of Texas - Austin Lance Lochner; University of Western Ontario
   Presented by: Lance Lochner, University of Western Ontario

Session 26: Firm and Market Dynamics

Date: July 2, 2009
Time: 15:45 - 17:45
 

Dynamic Oligopolies
By Kenneth Judd, Stanford University Sevin Yeltekin, Carnegie Mellon University
   Presented by: Sevin Yeltekin, Tepper School of Business
 

Dynamic Duopolistic Competition with Market Capturing Opportunities
By Janos Flesch; Maastricht University Ronald Peeters; Maastricht University Erik Pot; Maastricht University Dries Vermeulen; Maastricht University
   Presented by: Ronald Peeters, Maastricht University
 

Switching Costs with a Continuum of Consumers
By Guy Arie; Kellogg School of Management Paul L.E. Grieco; Northwestern University
   Presented by: Guy Arie, Northwestern University
 

Corporate Ownership and Managerial Selection
By Francesco Lippi; University of Sassari, EIEF and CEPR Fabiano Schivardi; University of Cagliari, EIEF and CEPR
   Presented by: Fabiano Schivardi, University of Cagliari

Session 27: Trade Dynamics

Date: July 2, 2009
Time: 15:45 - 17:45
 

Technological Mismatch: a Model of Internatioal Trade in Goods and Ideas
By Thomas Chaney University of Chicago and NBER
   Presented by: Thomas Chaney, The University of Chicago
 

New Exporter Dynamics
By Kim J. Ruhl, NYU Stern School of Business Jonathan L. Willis, Federal Reserve Bank of Kansas City
   Presented by: Kim Ruhl, NYU
 

Optimal Trade Policy: Home Market Effect vs Terms of Trade Externality
By Alessia Campolmi; Central European University and Magyar Nemzeti Bank, Budapest, Hungary Harald Fadinger; University of Vienna, Vienna, Austria Chiara Forlati; Ecole Polytechnique Federale de Lausanne, Lausanne, Switzerland
   Presented by: Chiara Forlati, Universitat Pompeu Fabra
 

Learning and Selection into Exporting
By Costas Arkolakis (Yale University) Theodore Papageorgiou (Pennsylvania State University)
   Presented by: Costas Arkolakis, Yale University

Session 28: Household Structure and Labor Supply

Date: July 2, 2009
Time: 15:45 - 17:45
 

Is Marriage a White Institution? Understanding the causes and effects of the racial marriage divide
By Elizabeth Caucutt; University of Western Ontario Nezih Guner; Universidad Carlos III de Madrid
   Presented by: Elizabeth Caucutt, University of Western Ontario
 

The Household Revolution:Childcare, Housework, and Female Labor Force Participation∗
By Emanuela Cardia, Universite de Montreal and CIREQ Paul Gomme, Concordia University and CIREQ
   Presented by: Emanuela Cardia, university of montreal
 

Marriage and Cohabitation
By Ahu Gemici; New York University Steve Laufer; New York University
   Presented by: Ahu Gemici, New York University
 

A Dynamic Model of Taxation, Marital Status, Fertility, and Labor Supply
By Flavio Cunha, University of Pennsylvania Karam Kang, University of Pennsylvania Petra Todd, University of Pennsylvania
   Presented by: Karam Kang, UPenn

Session 29: Aggregate Implications of Financial Frictions

Date: July 2, 2009
Time: 15:45 - 17:45
 

Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis
By Emine Boz, IMF Enrique G. Mendoza, UMD & NBER
   Presented by: Emine Boz, International Monetary Fund
 

Firm Dynamics and Financial Development
By Cristina Arellano, University of Minnesota Yan Bai, Arizona State University Jing Zhang, University of Michigan
   Presented by: Cristina Arellano, University of Minnesota
 

On the Macroeconomic Effects of Credit Shocks
By Urban Jermann, Wharton School Vincenzo Quadrini, Univ. of Southern California
   Presented by: Vincenzo Quadrini, USC
 

On the Optimality of Economic Integration
By Rui Castro; Université de Montréal Nelnan Koumtingué; U.N. and Université de Montréal
   Presented by: Rui Castro, University of Montreal

Session 30: Topics on Social Security

Date: July 2, 2009
Time: 15:45 - 17:45
 

Markovian Social Security in Unequal Societies
By Kaiji Chen, University of Oslo Zheng Song, Fudan University
   Presented by: Kaiji Chen, University of Oslo
 

The Effect of Tax-Deferred Retirement Saving Accounts: A Dynamic General Equilibrium Analysis
By Shinichi Nishiyama; Georgia State University
   Presented by: Shinichi Nishiyama, Georgia State University
 

The Rise and Expansion of Social Security in the US
By Marina Azzimonti; University of Texas, Austin Guillaume Vandenbroucke; University of Iowa
   Presented by: Guillaume Vandenbroucke, University of Iowa
 

Understanding the Aggregate Retirement Behavior during the 20th Century
By Rody Manuelli; Washington University in St. Louis Ananth Seshadri; University of Wisconsin-Madison Yongseok Shin; Washington University in St. Louis
   Presented by: Yongseok Shin, Washington University in St. Louis

Session 31: Monetary Policy and Financial Market Structure

Date: July 2, 2009
Time: 15:45 - 17:45
 

Credit and Banking in a DSGE model
By Andrea GERALI; Bank of Italy Stefano NERI; Bank of Italy Luca SESSA; Bank of Italy Federico SIGNORETTI; Bank of Italy
   Presented by: Andrea Gerali, Bank of Italy
 

Monetary Policy and the Financing of Firms
By Fiorella De Fiore; European Central Bank Pedro Teles; Banco de Portugal, Universidade Catolica Portuguesa, and Centre for Economic Policy Research Oreste Tristani; European Central Bank
   Presented by: Fiorella De Fiore, European Central Bank
 

Optimal monetary policy in a model with agency costs
By Charles Carlstorm; Federal Reserve Bank of Cleveland Timothy Fuerst; Bowling Green State University Matthias Paustian; Bank of England
   Presented by: Matthias Paustian, Bank of England
 

Money, Prices and Monetary Policy.
By Albert Marcet; Insitut d'Analisis Economica CSIC Juan Pablo Nicolini, Universidad Di Tella
   Presented by: Juan Nicolini, Universidad Di Tella

Session 32: Search Theory

Date: July 2, 2009
Time: 15:45 - 17:45
 

Market Power and Efficiency in a Search Model
By Manolis Galenianos; Penn State Philipp Kircher; U Penn Gabor Virag; U Rochester
   Presented by: Manolis Galenianos, Pennsylvania State University
 

A Search-Theoretic Model of Equilibrium Cycles with Sales
By James Albrecht; Georgetown University Fabien Postel-Vinay; University of Bristol and Paris School of Economics Susan Vroman; Georgetown University
   Presented by: Susan Vroman, Georgetown University
 

Ex Ante and Ex Post Inefficiency in Search and Matching Models
By Ronald Wolthoff; University of Chicago
   Presented by: Ronald Wolthoff, University of Chicago
 

Matching with phantoms
By Bruno Decreuse; GREQAM and University of Aix-Marseilles
   Presented by: Bruno Decreuse, University of Aix-Marseilles

Session 33: Housing in Macroeconomics

Date: July 2, 2009
Time: 15:45 - 17:45
 

Home Ownership, Savings and Mobility Over The Life Cycle
[slides]
By Jonathan Halket NYU Gopal Vasudev NYU
   Presented by: Jonathan Halket, New York University
 

The Macroeconomics of Real Estate
By Stefan Ried; Humboldt-Universitaet zu Berlin Harald Uhlig; The University of Chicago
   Presented by: Stefan Ried, German Council of Economic Experts
 

Endogenous Market Segmentation and the Volatility of House Prices
By Aubhik Khan; Ohio State University Julia Thomas; Ohio State University
   Presented by: Aubhik Khan, Ohio State University
 

Opportunistic Matching in the Housing Market Over the Cycle
By James Albrecht; Georgetown University Axel Anderson; Georgetown University Jonathan Heathcote; Minneapolis Federal Reserve Susan Vroman; Georgetown University
   Presented by: James Albrecht, Georgetown University

Session 34: Labor Markets and the Business Cycle

Date: July 2, 2009
Time: 15:45 - 17:45
 

Labor Turnover Costs, Workers’ Heterogeneity and Optimal Monetary Policy
By Ester Faia, Goethe University Frankfurt, Kiel Ifw and CEPREMAP Wolfgang Lechthaler, Kiel IfW and CAU Christian Merkl, Kiel Ifw and CAU
   Presented by: Christian Merkl, Kiel Institute for the World Economy
 

Wages over the Business Cycle: Spot Markets?
By Marcus Hagedorn; University of Zurich Iourii Manovskii; University of Pennsylvania
   Presented by: Marcus Hagedorn, University of Zurich
 

Unemployment dynamics and the cost of business cycles
By Jean-Olivier Hairault; Paris School of Economics François Langot; GAINS-TEPP (Le Mans University) Sophie Osotimehin; CREST-INSEE
   Presented by: Jean-Olivier Hairault, University Paris I
 

Comovement in Business Cycle Models: the Role of Nonseparable Preferences and Labor Market Participation
By Stefano Eusepi; Federal Reserve Bank of New York Bruce Preston; Columbia University and NBER
   Presented by: Bruce Preston, Columbia University

Session 35: Information Aggregation in Markets: Theory and Evidence

Date: July 2, 2009
Time: 15:45 - 17:45
 

The more we know, the less we agree: Higher-order expectations and public announcements
By Péter Kondor Central European University
   Presented by: Peter Kondor, Central European University
 

The dynamics of partially-revealing rational expectations equilibria
By Scott Condie; Brigham Young University Jayant V. Ganguli; University of Cambridge
   Presented by: Jayant Ganguli, University of Cambridge
 

Soft Information in Earnings Announcements: News or Noise?
By Clara Vega, Federal Reserve Board of Governors Elizabeth Demers, INSEAD
   Presented by: Clara Vega, University of Rochester
 

Heterogeneous Expectations and Business Cycle Fluctuations
By Christian Hellwig; UCLA and CEPR
   Presented by: Christian Hellwig, UCLA

Session 36: Empirical Studies on the Turkish Economy 1

Date: July 2, 2009
Time: 15:45 - 17:45
 

The Impact of Schooling on the Timing of Marriage and Fertility: Evidence from a Change in Compulsory Schooling Law
By Murat G. Kırdar; Middle East Technical University Meltem Dayıoğlu Tayfur; Middle East Technical University İsmet Koç; Hacettepe University
   Presented by: Murat Kırdar, Middle East Technical University
 

The Role of Human Capital in Productivity Spillovers from FDI: An Empirical Analysis for Turkish Manufacturing Firms
By Seda Köymen; Bilkent University Selin Sayek; Bilkent University
   Presented by: seda köymen, bilkent university
 

Non-Price Competition in Credit Card Markets: Evidence from an Emerging Economy
By G. Gülsün Akın Department of Economics, Bogazici University,Bebek,Istanbul , Turkey e-mail: gulsun.akin@boun.edu.tr Ahmet Faruk Aysan Department of Economics, Bogazici University,Bebek,Istanbul , Turkey e-mail: ahmet.aysan@boun.edu.tr Gazi İshak Kara Department of Economics, Bogazici University,Bebek,Istanbul , Turkey e-mail: gazi.kara@boun.edu.tr Levent Yıldıran Department of Economics, Bogazici University,Bebek,Istanbul , Turkey e-mail: levent.yildiran@boun.edu.tr
   Presented by: Ahmet Aysan, Bogazici University
 

Dealing with Attrition When Refreshment Samples are Available: An Application to the Turkish Household Labor Force Survey
By Emre Ekinci Cornell University Insan Tunali Koc University
   Presented by: Emre Ekinci, Cornell University

Session 37: Search and Matching Financial Markets

Date: July 3, 2009
Time: 10:00 - 12:00
 

Capital Reallocation and Liquidity with Search Frictions
By Yong Kim, USC
   Presented by: Yong Kim, University of Southern California
 

Capital Mobility and Asset Pricing
By Darrell Duffie Stanford GSB Bruno Strulovici Northwestern Economics
   Presented by: Bruno Strulovici, Northwestern University
 

Liquidity shocks and order book dynamics
By Bruno Biais, TSE Pierre-Olivier Weill, UCLA
   Presented by: Pierre-Olivier Weill, UCLA
 

Asset Prices, Liquidity, and Monetary Policy in an Exchange Economy
By Ricardo Lagos NYU
   Presented by: Ricardo Lagos, NYU

Session 38: Taxation with Frictions

Date: July 3, 2009
Time: 10:00 - 12:00
 

Money and Optimal Capital Taxation
By S. Boragan Aruoba, University of Maryland Sanjay K. Chugh, University of Maryland
   Presented by: S. Boragan Aruoba, University of Maryland
 

Tax Smoothing in Frictional Labor Markets
By David M. Arseneau, Federal Reserve Board Sanjay K. Chugh, University of Maryland
   Presented by: Sanjay Chugh, University of Maryland
 

Ramsey Taxation and fear of misspecification
By Anastasios G. Karantounias; Federal Reserve Bank of Atlanta Lars Peter Hansen; University of Chicago Thomas J. Sargent; New York University and Hoover Institution
   Presented by: Anastasios Karantounias, Federal Reserve Bank of Atlanta
 

Barriers to investment in polarized societies
By Marina Azzimonti; U of Texas, Austin
   Presented by: Marina Azzimonti Renzo, University of Texas - Austin

Session 39: Political Economy

Date: July 3, 2009
Time: 10:00 - 12:00
 

Some Unpleasant Bargaining Arithmetics?
By Hulya Eraslan, Johns Hopkins University Antonio Merlo, University of Pennsylvania
   Presented by: Hulya Eraslan, Johns Hopkins University
 

Turnover and Accountability of Appointed and Elected Judges
By Claire Lim Graduate School of Business Stanford University
   Presented by: Claire Lim, Stanford University
 

Choosing Records
By Matias Iaryczower; Caltech Andrea Mattozzi; Caltech
   Presented by: Matias Iaryczower, Caltech
 

Inferring Strategic Voting
By Kei Kawai; Northwestern University Yasutora Watanabe; Northwestern University
   Presented by: Kei Kawai, Northwestern University

Session 40: RED Mini-Conference on Sources of Business-Cycle Fluctuations, Session 1

Date: July 3, 2009
Time: 10:00 - 12:00
 

What are the driving forces of international business cycles
By Mario J. Crucini, Vanderbilt University and NBER Ayhan Kose, IMF Christopher Otrok, University of Virginia
   Presented by: Mario Crucini, Vanderbilt University
 

Stochastic Trends and Business Cycles
By Martin Uribe
   Presented by: Martin Uribe,
 

A Historical Perspective on International Co-movements: 1821-2007
By Paolo Surico (Bank of England) Haroon Mumtaz (Bank of England) Saverio Simonelli, University Federico II of Naples
   Presented by: Saverio Simonelli, University of Naples Federico II

Session 41: Families and Development

Date: July 3, 2009
Time: 10:00 - 12:00
 

Do International Labor Standards Contribute to the Persistence of the Child Labor Problem?
By Matthias Doepke, Northwestern University Fabrizio Zilibotti, University of Zurich
   Presented by: Matthias Doepke, Northwestern University
 

From Shame to Game in One Hundred Years: An Economic Model of the Rise in Premarital Sex and its De-Stigmatization
By Jesús Fernández-Villaverde, Jeremy Greenwood, and Nezih Guner
   Presented by: Jeremy Greenwood, University of Pennsylvania
 

Risk Sharing, Inequality and Fertility
By Roozbeh Hosseini, Arizona State Univeristy Larry Jones, Univeristy of Minnesota Alice Schoonbroodt, University of Southhampton Ali Shourideh, University of Minnesota
   Presented by: Ali Shourideh, University of Minnesota
 

Sexual Behavior and HIV in Malawi
By Philipp Kircher, UPenn Jeremy Greenwood, UPenn Michele Tertilt, Stanford
   Presented by: Michele Tertilt, Stanford University

Session 42: Education and Human Capital

Date: July 3, 2009
Time: 10:00 - 12:00
 

Student Abilities During the Expansion of U.S. Education, 1950-2000
By Lutz Hendricks, UNC-Chapel Hill, CESifo, Munich and CFS Todd Schoellman, Clemson University
   Presented by: Todd Schoellman, Clemson University
 

A General Equilibrium Theory of College with Education Subsidies, In-School Labor Supply, and Borrowing Constraints
By Carlos Garriga/Federal Reserve Bank of St. Louis Mark P. Keightley/Congressional Research Service
   Presented by: Carlos Garriga, Federal Reserve Bank of St. Louis
 

Taxation of Human Capital and Cross-Country Trends in Wage Inequality
By Fatih Guvenen; University of Minnesota and NBER Burhanettin Kuruscu; University of Texas at Austin Serdar Ozkan; University of Pennsylvania
   Presented by: Serdar Ozkan, University of Pennsylvania
 

The Nature of Credit Constraints and Human Capital
By Lance J. Lochner, University of Western Ontario; Alexander Monge-Naranjo, Penn State University
   Presented by: Alex Monge-Naranjo, Penn State University

Session 43: Mortgages and Foreclosure

Date: July 3, 2009
Time: 10:00 - 12:00
 

Subprime Mortgages
By John Krainer; Federal Reserve Bank of San Francisco Stephen LeRoy; University of California at Santa Barbara Munpyung O; University of California at Santa Barbara
   Presented by: John Krainer, Federal Reserve Bank of San Francisco
 

Foreclosures and House Price Dynamics in Local Housing Markets
By Satyajit Chatterjee; FRB Philadelphia Burcu Eyigungor; Koc University
   Presented by: Satyajit Chatterjee, Federal Reserve Bank of Philadelphia
 

Household Leverage
By Stefano Corradin European Central Bank
   Presented by: Stefano Corradin, European Central Bank
 

The Design of Foreclosure Punishments: You Just Cannot Walk Away!
By Carlos Garriga Federal Reserve Bank of St. Louis Don Schlagenhauf Florida State University
   Presented by: Don Schlagenhauf, Florida State University

Session 44: Optimal Monetary and Fiscal Policy

Date: July 3, 2009
Time: 10:00 - 12:00
 

Monetary Policy with State Contingent Interest Rates
By Bernardino Adão; Banco de Portugal Isabel Correia; Banco de Portugal, Universidade Catolica Portuguesa and CEPR Pedro Teles; Banco de Portugal, Universidade Catolica Portuguesa and CEPR
   Presented by: Isabel Correia, Banco de Portugal, Universidade Catolica
 

Debt Management under Incomplete Markets and Transaction Costs
By Elisa Faraglia; London Business School Albert Marcet; IAE and CEPR Andrew J. Scott; London Business School and CEPR
   Presented by: Elisa Faraglia, London Business School
 

Cyclical Government Spending, Income Inequality and Welfare in Small Open Economies
By Guay Lim, University of Melbourne Paul McNelis, Fordham University
   Presented by: Paul McNelis, Fordham University
 

Central Bank Lending and Inflation
By Todd Keister; Federal Reserve Bank of New York
   Presented by: Todd Keister, Federal Reserve Bank of New York

Session 45: Exchange Rates & Prices

Date: July 3, 2009
Time: 10:00 - 12:00
 

Income Differences and Prices of Tradables
By Ina Simonovska Department of Economics University of Minnesota
   Presented by: Ina Simonovska, University of Minnesota
 

Local Costs of Distribution, International Trade Costs and Micro Evidence on the Law of One Price
By Rahul Giri; Instituto Tecnologico Autonomo de Mexico
   Presented by: Rahul Giri, Instituto Tecnológico Autónomo de México
 

The dynamics of international trade invoicing
By Linda Goldberg; Federal Reserve Bank of New York and NBER Ceric Tille; Graduate Institute for International and Development Studies, Geneva, and CEPR
   Presented by: Cedric Tille, Graduate Institute of International and
 

The Geography of Consumer Prices
By Attila Ratfai; Central European University Adam Reiff; National Bank of Hungary
   Presented by: Attila Ratfai, Central European University

Session 46: Learning in Macro and Finance

Date: July 3, 2009
Time: 10:00 - 12:00
 

Du subjectiv expectations explain asset pricing puzzles?
By Gurdip Bakshi; Department of Finance, University of Maryland Georgios Skoulakis; Department of Finance, University of Maryland
   Presented by: Georgios Skoulakis, University of Maryland
 

Recessions are a Time to Shine: A theory of attention allocation over the business cycle
By Marcin Kacperczyk; NYU Stern Stijn Van Nieuwerburgh; NYU Stern Laura Veldkamp; NYU Stern
   Presented by: Laura Veldkamp, NYU Stern
 

Learning, Ambiguity and Life-Cycle Portfolio Allocation
By Claudio Campanale Universidad de Alicante
   Presented by: Claudio Campanale, University of Alicante
 

Learning About Identification
By In-Koo Cho; University of Illinois Kenneth Kasa; Simon Fraser University
   Presented by: In-Koo Cho, University of Illinois

Session 47: Models of Community Interaction

Date: July 3, 2009
Time: 10:00 - 12:00
 

diversity and popularity in social networks
By Yann Bramoullé, Laval University Brian W. Rogers, MEDS, Northwestern University
   Presented by: Yann Bramoullé, Laval
 

Community Enforcement Beyond the Prisoner's Dilemma
By Joyee Deb, New York University Julio González-Díaz, Universidad de Vigo
   Presented by: Joyee Deb, New York University
 

Endogenous matching predictions in a repeated partnership model with imperfect monitoring
By Ayca Kaya; University of Iowa Galina Vereshchagina; Arizona State University
   Presented by: Galina Vereshchagina, Arizona State University
 

Optimal City Hierarchy: A Dynamic Programming Approach to Central Place Theory
[slides]
By Thomas J. Holmes, University of Minnesota Wen-Tai Hsu, Chinese University of Hong Kong
   Presented by: Wen-Tai Hsu, Chinese University of Hong Kong

Session 48: Empirical Studies on the Turkish Economy 2

Date: July 3, 2009
Time: 10:00 - 12:00
 

EMPIRICAL EVIDENCE FOR DAY OF THE WEEK EFFECT IN AN EMERGING MARKET: THE TURKISH CASE
By Sadullah Çelik, Marmara University Hüseyin Kaya, Bahçeşehir University
   Presented by: Sadullah Çelik, Marmara University
 

INFLATION TARGETING AND EXCHANGE RATE DYNAMICS: EVIDENCE FROM TURKEY
By K. Azim Özdemir, The Central Bank of Turkey Serkan Yiğit, The Central Bank of Turkey
   Presented by: Kazim Ozdemir, The Central Bank of Turkey
 

Financing Constraints and Investment: The Case of Turkish Manufacturing Firms
By Sevcan Yesiltas, Bilkent University
   Presented by: sevcan yesiltas, bilkent university

Session 49: Open Economy Issues

Date: July 3, 2009
Time: 10:00 - 12:00
 

Adjustment under trade liberalization, labor market segmentation, and informal employment: A dynamic general equilibrium analysis of a three-sector-open economy
By D. Sirin Saracoglu; Middle East Technical University
   Presented by: Durdane Saracoglu, Middle East Technical University
 

Imported inputs and countercyclicality of net exports in emerging markets
By S. Tolga Tiryaki; Central Bank of Turkey, University of York
   Presented by: Suleyman Tiryaki, University of York
 

Worthy Transfers? A Dynamic Analysis of Turkey's Accession to the European Union
By Gül Ertan Özgüzer; Izmir University of Economics, IRES-Catholic University of Louvain-Luca Pensieroso; IRES-Catholic University of Louvain
   Presented by: gül ertan, ieu, ires
 

Fical Solvency and Currency Crises: the short-term debt flows perspective
By Ayse Ertugrul Bahcesehir Univeristy
   Presented by: Ayse Ertugrul, Bahcesehir University

Session 50: Corporate Finance

Date: July 3, 2009
Time: 13:15 - 15:45
 

Equilibrium Credit Spreads and the Macroeconomy
By Joao Gomes; University of Pennsylvania Lukas Schmid; Duke University
   Presented by: Lukas Schmid, Duke University
 

The Deep-Pocket Effect of Internal Capital Markets
By Xavier Boutin; CREST(LEI) and European Commission Giacinta Cestone; Queen Mary University of London, CSEF, CEPR and ECGI Chiara Fumagalli; Università Bocconi, CSEF and CEPR Giovanni Pica; Università di Salerno and CSEF Nicolas Serrano-Velarde; European University Institute and Oxford University
   Presented by: Nicolas Serrano-Velarde, European University Institute & Oxford University
 

Collateral and Capital Structure
By Adriano Rampini; Duke University S. Viswanathan; Duke University
   Presented by: Adriano Rampini, Duke University
 

Credit Crunched? Consequences on Corporate Financial Policy, Investment, and Risk
By Daniel Paravisini; Columbia University GSB Huidan Lin; Columbia University
   Presented by: Daniel Paravisini, Columbia Business School

Session 51: RED Mini-Conference on Sources of Business-Cycle Fluctuations, Session 2

Date: July 3, 2009
Time: 13:15 - 15:15
 

Understanding the Aggregate Effects of Anticipated and Unanticipated Tax Policy shocks
By Karel Mertens; Cornell University Morten O. Ravn; University College London, University of Southampton and CEPR
   Presented by: Morten Ravn, University of Southampton
 

Investment Shocks and the Relative Price of Investment
By Alejandro Justiniano; Federal Reserve Bank of Chicago Giorgio E. Primiceri; Northwestern University, CEPR and NBER Andrea Tambalotti, Federal Reserve Bank of New York
   Presented by: Andrea Tambalotti, Federal Reserve Bank of New York
 

Information and Propagation
By Eric M. Leeper; Indiana University, NBER Todd B. Walker; Indiana University
   Presented by: Todd Walker, Indiana University

Session 52: Adverse Selection and General Equilibrium

Date: July 3, 2009
Time: 13:15 - 15:15
 

Equilibrium corporate finance
By Piero Gottardi, EUI Firenze Guido Ruta, NYU
   Presented by: Alberto Bisin, New York University
 

Adverse Selection, Credit, and Efficiency: the Case of the Missing Market
By Alberto Martin (CREI and Universitat Pompeu Fabra, CEPR)
   Presented by: Alberto Martin, CREI and Universitat Pompeu Fabra
 

Search with Adverse Selection
By Stephan Lauermann Asher Wolinsky
   Presented by: Stephan Lauermann, University of Michigan
 

Adverse Selection in Competitive Search Equilibrium
By Veronica Guerrieri, University of Chicago Robert Shimer, University of Chicago Randall Wright, University of Pennsylvania
   Presented by: Veronica Guerrieri, University of Chicago, GSB

Session 53: Multiple Sectors and Growth

Date: July 3, 2009
Time: 13:15 - 15:15
 

Specialization, Economic Development and Aggregate Productivity Differences
By David Lagakos; Federal Reserve Bank of Minneapolis and Arizona State University Michael Waugh; Federal Reserve Bank of Minneapolis and New York University
   Presented by: David Lagakos, Minneapolis Federal Reserve Bank
 

Many Sectors Meet More Skills: Intersectoral Linkages and the Skill Bias of Technology
By Nico Voigtlaender; UCLA
   Presented by: Nico Voigtlaender, UCLA
 

A Multi-industry Model of Growth with Financing Constraints
By Anna Ilyina; International Monetary Fund Roberto Samaniego; George Washington University
   Presented by: Roberto Samaniego, George Washington University
 

Growing like China
By Zheng Song; Fudan University Kjetil Storesletten; University of Oslo Fabrizio Zilibotti; University of Zurich
   Presented by: Zheng Song, Fudan University

Session 54: Employment Contracts in General Equilibrium

Date: July 3, 2009
Time: 13:15 - 15:15
 

Labor Contracts, Equal Treatment and Wage-Unemployment Dynamics
By Andy Snell (University of Edinburgh) Jonathan P. Thomas (University of Edinburgh)
   Presented by: Jonathan Thomas, UNIVERSITY OF EDINBURGH
 

Aggregate and Idiosyncratic Risk in a Frictional Labor Market
By Leena Rudanko; Boston University
   Presented by: Leena Rudanko, Boston University
 

Block Recursive Equilibria for Stochastic Models of Search on the Job
By Guido Menzio, University of Pennsylvania Shouyong Shi, University of Toronto
   Presented by: Guido Menzio, University of Pennsylvania
 

Discrimination and Employment Protection
By Steinar Holden, Oslo University Åsa Rosén, stockholm University
   Presented by: Asa Rosen, Stockholm University

Session 55: Trade & Technology Adoption

Date: July 3, 2009
Time: 13:15 - 15:15
 

Learning and the Dynamics of Exporting: Theory and Evidence from French Firms
By Romain Aeberhardt; INSEE Ines Buono; Banca d'Italia Harald Fadinger; University of Vienna
   Presented by: Harald Fadinger, University of Vienna
 

Trade Liberalization, Exports and Technology Upgrading: Evidence on the Impact of MERCOSUR on Argentinean Firms
By Paula Bustos; CREI Universitat Pompeu Fabra
   Presented by: Paula Bustos, CREI Universitat Pompeu Fabra
 

Why Are Developing Countries so Slow in Adopting New Technologies?
By Raphael Bergoeing; University of Chile Norman V. Loayza; The World Bank Facundo Piguillem; University of Minnesota
   Presented by: Raphael Bergoeing, Universidad de Chile
 

Innovation, diffusion and trade: theory and measurement
By Ana Maria Santacreu New York University
   Presented by: Ana Santacreu, NYU

Session 56: Monetary Policy in Open Economies

Date: July 3, 2009
Time: 13:15 - 15:15
 

Trade and Optimal Monetary Policy
By Giovanni Lombardo; European Central Bank Federico Ravenna; University of California Santa Cruz
   Presented by: Giovanni Lombardo, European Central Bank
 

Currency Areas and International Assistance
By Pierre M Picard; University of Luxembourg and CORE, Université Catholique de Louvain, Louvain-la-Neuve. Tim Worrall; University of Manchester.
   Presented by: Tim Worrall, The University of Manchester
 

Should Monetary Policy React to Current Account Imbalances?
By Giancarlo Corsetti, European University Institute and CEPR Luca Dedola, ECB and CEPR Sylvain Leduc, Federal Reserve Bank of San Francisco
   Presented by: Sylvain Leduc, Federal Reserve Bank of San Francisco
 

CONVERGENCE AND ANCHORING OF YIELD CURVES IN THE EURO AREA
By Michael Ehrmann; ECB Marcel Fratzscher; ECB Refet Gurkaynak; Bilkent University Eric Swanson; FRB San Francisco
   Presented by: Refet Gurkaynak, Bilkent University

Session 57: Uncertainty, Asset Prices and Business Cycles

Date: July 3, 2009
Time: 13:15 - 15:15
 

Disaster risk and business cycles
By Francois Gourio; Boston University, Dept of Economics
   Presented by: Francois Gourio, Boston University
 

Return Predictability and Labor Market Frictions in a Real Business Cycle Model
By Harjoat S. Bhamra, UBC Lars Lochstoer, Columbia University
   Presented by: Lars Lochstoer, Columbia University
 

Investment and the Real Interest Rate in Business Cycle Models
By Chris Edmond; New York University Oleksiy Kryvtsov; Bank of Canada Virgiliu Midrigan; New York University
   Presented by: Oleksiy Kryvtsov, Bank of Canada
 

Uncertain Times, Uncertain Measures
By Michelle Alexopoulos; University of Toronto Jon Cohen; University of Toronto
   Presented by: Michelle Alexopoulos, University of Toronto

Session 58: Intergenerational Transfers

Date: July 3, 2009
Time: 13:15 - 15:15
 

Tough Love For Lazy Kids
By Ctirad Slavık; University of Minnesota Kevin Wiseman; University of Minnesota
   Presented by: Kevin Wiseman, University of Minnesota
 

A Dynamic Model of Altruistically-Motivated Transfers
By Daniel Barczyk; New York University Matthias Kredler; Universidad Carlos III Madrid
   Presented by: Daniel Barczyk, New York University
 

Intergenerational Transmission of Abilities and Self Selection of Mexican Immigrants
By Vincenzo Caponi; Ryerson University, IZA, RCEA
   Presented by: Vincenzo Caponi, Ryerson University, IZA, RCEA
 

Sharing Demographic Risk – Who is Afraid of the Baby Bust?
By Alexander Ludwig, MEA, Universitaet Mannheim Michael Reiter, IHS, Wien
   Presented by: Alexander Ludwig, Mannheim Research Institute for the Econ

Session 59: Mechanism Design

Date: July 3, 2009
Time: 13:15 - 15:15
 

Public Good Provision in a Large Economy
By Felix Bierbrauer; Max Planck Institute for Reserach on Collective Goods,Bonn Martin Hellwig; Max Planck Institute for Research on Collective Goods, Bonn
   Presented by: Martin F. Hellwig, Max Planck Institute for Research on Col
 

Robust Virtual Implementation in Multi-Stage Mechanisms
By Christoph Mueller; University of Minnesota and Federal Reserve Bank of Minneapolis
   Presented by: Christoph Mueller, University of Minnesota
 

Adverse Selection and Non-exclusive Contracts
By Laurence Ales; Tepper School of Business, Carnegie Mellon University Pricila Maziero; University of Minnesota and Minneapolis Fed
   Presented by: Laurence Ales, Carnegie Mellon University
 

Design of Divisible Good Auctions
By Marzena Rostek, University of Wisconsin-Madison Marek Weretka, University of Wisconsin-Madison Marek Pycia, UCLA
   Presented by: Marzena Rostek, University of Wisconsin-Madison

Session 60: Structural Change, Business Cycles and Monetary Policy

Date: July 3, 2009
Time: 13:15 - 15:15
 

Sources of the Great Moderation: Shocks, Frictions, or Monetary Policy?
By Zheng Liu Federal Reserve Bank of San Francisco Dan Waggoner Federal Reserve Bank of Atlanta Tao Zha Federal Reserve Bank of Atlanta
   Presented by: Zheng Liu, Federal Reserve Bank of San Francisco
 

Regime Switches, Agents’ Beliefs, and Post-World War II U.S. Macroeconomic Dynamics
By Francesco Bianchi Princeton University
   Presented by: Francesco Bianchi, Princeton Univeristy
 

Monetary Policy Regime Shifts and Inflation Persistence
By Troy Davig (Federal Reserve Bank of Kansas City) and Taeyoung Doh (Federal Reserve Bank of Kansas City)
   Presented by: Taeyoung Doh, Economic Research Dept.
 

Model Selection in Unstable Environments
By Raffaella Giacomini (UCL) Barbara Rossi (Duke)
   Presented by: Barbara Rossi, Duke University

Session 61: Tax Policy: Theory & Quantitative Evaluation

Date: July 3, 2009
Time: 13:15 - 15:15
 

What is the optimal path of energy taxes? A quantitative evaluation
By John Hassler; Institute for International Economic Studies, Stockholm university Per Krusell; Princeton University, Institute for International Economic Studies, Stockholm university Conny Olovsson; Institute for International Economic Studies, Stockholm university
   Presented by: Conny Olovsson, IIES, Stockholm University
 

Social Discounting and Incentive Compatible Fiscal Policy
[slides]
By Catarina Reis; Universidade Catolica Portuguesa
   Presented by: Catarina Reis, Universidade Católica Portuguesa
 

Optimal Taxation Over the Life Cycle
By Ezra Oberfield; University of Chicago Aspen Gorry; University of Chicago
   Presented by: Ezra Oberfield, University of Chicago
 

Fragility: A Quantitative Analysis of the US Health Insurance System
By Bjoern Bruegemann, Yale University Iourii Manovskii, University of Pennsylvania
   Presented by: Bjorn Brugemann, Yale University

Session 62: New Perspectives on International Capital Flows

Date: July 3, 2009
Time: 15:45 - 17:45
 

Distinguishing Across Models of International Capital Flows
By Alexander Karaivanov, Simon Fraser University Mark Wright, UCLA
   Presented by: Alexander Karaivanov, Simon Fraser University
 

International Capital Flows and World Output Gains
By Jürgen von Hagen, University of Bonn, Indiana University, CEPR Haiping Zhang, Singapore Management University
   Presented by: Haiping Zhang, Singapore Management University
 

Bad Investments and Missed Opportunities: Capital Flows to Latin America and Asia, 1950-2004
By Lee E. Ohanian; UCLA and NBER Paulina Restrepo Echavarria; UCLA Mark L. J. Wright; UCLA
   Presented by: Paulina Restrepo Echavarria, UCLA
 

Why Do Emerging Economies Import Direct Investment and Export Savings? A Story of Financial Underdevelopment
By Katherine Smith, U.S. Naval Academy Diego Valderrama, Federal Reserve Bank of San Francisco
   Presented by: Diego Valderrama, Federal Reserve Bank of San Francisco

Session 63: Insurance for Health and Longevity Risk

Date: July 3, 2009
Time: 15:45 - 17:45
 

The Impact of Medical and Nursing Home Expenses and Social Insurance Policies on Savings and Inequality
By Karen A. Kopecky, University of Western Ontario Tatyana Koreshkova, Concordia University and CIREQ
   Presented by: Karen Kopecky, The University of Western Ontario
 

Longevity Risk and Retirement Savings
By Francisco Gomes London Business School Joao Cocco London Business School
   Presented by: Francisco Gomes, London Business School
 

How deep is the annuity market participation puzzle?
By Joachim Inkmann (Tilburg) Paula Lopes (Universidade Catolica Portuguesa) Alex Michaelides (LSE)
   Presented by: Alexander Michaelides, London School of Economics
 

Optimal Health and Longevity Insurance
By Ralph S.J. Koijen, University of Chicago Stijn Van Nieuwerburgh, New York University Motohiro Yogo, University of Pennsylvania
   Presented by: Motohiro Yogo, University of Pennsylvania

Session 64: Sorting

Date: July 3, 2009
Time: 15:45 - 17:45
 

Identifying Sorting, In Theory
By Jan Eeckhout, UPF and UPenn Philipp Kircher, UPenn
   Presented by: Jan Eeckhout, University of Pennsylvania
 

An Empirical Model of Wage Dispersion with Sorting
By Jesper Bagger; University of Aarhus Rasmus Lentz; University of Wisconsin-Madison
   Presented by: Jesper Bagger, public
 

Learning Your Comparative Advantages
By Theodore Papageorgiou; Penn State University
   Presented by: Theodore Papageorgiou, Penn State University
 

In the Wrong Hands: Complementarities, Resource Allocation, and Aggregate TFP
By Simeon Alder; UCLA
   Presented by: Simeon Alder, UCLA

Session 65: Investment Frictions

Date: July 3, 2009
Time: 15:45 - 17:45
 

Dynamic Hedging in Incomplete Markets: A Simple Solution
By Suleyman Basak; London Business School Georgy chabakauri; London Business School
   Presented by: Suleyman Basak, London Business School
 

Entrepreneurship, Occupational Choice and the Distribution of Idiosyncratic Risk
By Stefania Albanesi, Columbia University
   Presented by: Stefania Albanesi, Columbia
 

State Verification and the Incentives to Save
By Roc Armenter, Federal Reserve Bank of Philadelphia Thomas Mertens, Harvard University
   Presented by: Roc Armenter, Federal Reserve Bank of Philadelphia
 

Optimal Capital Taxation in an Economy with Capital Allocation Frictions
By David M. Arseneau, Federal Reserve Board Sanjay K. Chugh, University of Maryland Andre Kurmann, University of Quebec at Montreal
   Presented by: Andre Kurmann, UQAM

Session 66: The Economics of the Family: Marriage, Education, and Labor Supply

Session Chair: Fatih Guvenen, University of Minnesota
Date: July 3, 2009
Time: 15:45 - 17:45
 

Emancipation through Education
By Fatih Guvenen, University of Minnesota Michelle Rendall, University of Oslo
   Presented by: Fatih Guvenen, University of Minnesota
 

The Rug Rat Race
By Garey Ramey; University of California, San Diego Valerie Ramey; University of California, San Diego
   Presented by: Valerie Ramey, University of California, San Diego
 

Nature or Nurture? Learning and the Geography of Female Labor Force Participation
By Alessandra Fogli, University of Minnesota and Minneapolis FED Laura Veldkamp, Stern School of Business, NYU
   Presented by: Alessandra Fogli, Minneapolis Federal Reserve and CEPR
 

Marriage matching, risk sharing and spousal labor supplies
By Eugene Choo, University of Calgary Shannon Seitz, Boston College Aloysius Siow, University of Toronto
   Presented by: Aloysius Siow, University of Toronto

Session 67: Public Policy and Political Economy Distortions

Date: July 3, 2009
Time: 15:45 - 17:45
 

Rotten Parents and Disciplined Children: A Politico-Economic Theory of Public Expenditure and Debt
By Zheng Song Fudan University Kjetil Storesletten University of Oslo Fabrizio Zilibotti University of Zurich
   Presented by: Kjetil Storesletten, University of Oslo
 

Optimal Debt Management and Redistribution
By Pierre Yared, Columbia University
   Presented by: Pierre Yared, Columbia University
 

On the Case for a Balanced Budget Amendment to the U.S. Constitution
By Marco Battaglini, Steve Coate, Marina Azzimonti
   Presented by: Marco Battaglini, Princeton University
 

On the value of societal commitment
By Christopher Sleet, Carnegie Mellon University
   Presented by: Christopher Sleet, Carnegie Mellon University

Session 68: RED Mini-Conference on Sources of Business-Cycle Fluctuations, Session 3

Date: July 3, 2009
Time: 15:45 - 17:45
 

News Driven Business Cycles in Heterogenous Agents Economies
By Paul Beaudry, University of British Columbia FRanck Portier, Toulouse School of Economics
   Presented by: Franck Portier, Toulouse School of Economics
 

Implications of Resource Reallocation and Technical Progress for Macroeconomic Fluctuations: Evidence from Plant-Level U.S. Manufacturing Data
By Amil Petrin; University of Minnesota,Twin Cities and NBER Kirk White; Economic Research Service, U.S. Department of Agriculture Jerome P. Reiter; Duke University
   Presented by: Amil Petrin, University of Minnesota
 

News and knowledge capital
By Christopher Gunn; McMaster University Alok Johri; McMaster University
   Presented by: Alok Johri, McMaster University

Session 69: Banking and Financial Markets

Date: July 3, 2009
Time: 15:45 - 17:45
 

Financial Integration, Liquidity and the Depth of Systemic Crises
By Fabio Castiglionesi; Tilburg University Fabio Feriozzi; Tilburg University Guido Lorenzoni; MIT
   Presented by: Fabio Castiglionesi, Tilburg University
 

Banking: a mechanism design approach
By Fabrizio Mattesini; Università di Roma "Tor Vergata" Cyril Monnet; Federal Reserve Bank of Philadelphia Randall Wright; University of Pennsylvania
   Presented by: Fabrizio Mattesini, University of Rome Tor Vergata
 

Liquidity hoarding and interbank market spreads: the role of counterparty risk
By Florian Heider; European Central Bank Marie Hoerova; European Central Bank Cornelia Holthausen; European Central Bank
   Presented by: Marie Hoerova, European Central Bank
 

On the Fragility of Reputation in Financial Markets
By V V Chari, University of Minnesota and Federal Reserve Bank of Minneapolis Ali Shourideh, University of Minnesota Ariel Zetlin-Jones, University of Minnesota
   Presented by: V. Chari, Federal Reserve Bank of Minneapolis

Session 70: Models of Organizations

Date: July 3, 2009
Time: 15:45 - 17:45
 

Incentives and the Structure of Teams
By April Franco, University of Toronto; Matt Mitchell, University of Toronto; Galina Vereshchagina, Arizona State University
   Presented by: April Franco, University of Iowa
 

Dynamic Managerial Compensation: A Mechanism Design Approach
By Alessandro Pavan (Northwestern) Daniel Garrett (Northwestern)
   Presented by: Alessandro Pavan, Northwestern University
 

Communication and Consensus
By Archishman Chakraborty; York University Bilge Yilmaz; Stanford University
   Presented by: Bilge Yilmaz, Stanford University
 

Free-Riding And Delegation In Research Teams
By Nicolas Klein, University of Munich
   Presented by: Nicolas Klein, University of Munich

Session 71: Reacting to New Information: Theory and Applications

Date: July 3, 2009
Time: 15:45 - 17:45
 

Higher-Order Beliefs and the Business Cycle
By George-Marios Angeletos; MIT Jennifer La'O; MIT
   Presented by: George-Marios Angeletos, M.I.T.
 

Ambiguous Information, Risk Aversion, and Asset Pricing
By Philipp Karl ILLEDITSCH; Wharton
   Presented by: Philipp ILLEDITSCH, Wharton
 

A Subjective Model of Temporal Preferences
By Haluk Ergin; Washington University in Saint Louis, Dept. Economics Todd Sarver; Nortwestern University, Dept. Economics
   Presented by: Haluk Ergin, Washington University in Saint Louis
 

Analytical Solutions to Rational Inattention Problems
By Mirko Wiederholt; Northwestern University
   Presented by: Mirko Wiederholt, Northwestern University

Session 72: Employment and the Life Cycle

Date: July 3, 2009
Time: 15:45 - 17:45
 

Demographics and Hours Worked in the U.S.
By Kaiji Chen Department of Economics, University of Oslo. Ayse Imrohoroglu Department of Finance and Business Economics, Marshall School of Business, University of Southern California Selahattin Imrohoroglu Department of Finance and Business Economics, Marshall School of Business, University of Southern California
   Presented by: Ayse Imrohoroglu, usc
 

A Life Cycle Model of Trans-Atlantic Employment Experiences
By Sagiri Kitao; University of Southern California Lars Ljungqvist; Stockholm School of Economics Thomas J. Sargent; New York University
   Presented by: LARS LJUNGQVIST, STOCKHOLM SCHOOL OF ECONOMICS
 

High-Powered Jobs: Can Contraception Technology Explain Trends in Women's Occupational Choice?
By John Knowles; University of Southampton
   Presented by: John Knowles, University of Southampton
 

Age-Design Employment Protection
By Arnaud Chéron; University of Maine (GAINS-TEPP) and EDHEC Jean-Olivier Hairault; Paris School of Economics, University of Paris I and IZA François Langot; University of Maine (GAINS-TEPP), University of Paris 2 (ERMES) and IZA
   Presented by: françois langot, cepremap

Session 73: Empirical Methods for Policy Analysis

Date: July 3, 2009
Time: 15:45 - 17:45
 

A Structural Evaluation of a Large-Scale Quasi-Experimental Microfinance Initiative
By Joseph P. Kaboski; Ohio State University Robert M. Townsend; MIT
   Presented by: Joseph Kaboski, The Ohio State University
 

Contracting for Educational Achievement
By Maria Marta Ferreyra Tepper School of Business Carnegie Mellon University Pierre Liang Tepper School of Business Carnegie Mellon University
   Presented by: Maria Ferreyra, Carnegie Mellon University
 

Divorce Laws and Divorce Rate in the U.S.
By Stefania Marcassa University of Minnesota
   Presented by: Stefania Marcassa, University of Minnesota and Minneapolis FED
 

Efficient Training Programs for Workers on Welfare
By Nicola Pavoni, UCL Ofer Setty, NYU Gianluca Violante, NYU
   Presented by: Nicola Pavoni,

Session 74: Consumption Smoothing and Insurance

Date: July 4, 2009
Time: 10:00 - 12:00
 

How does Household Consumption Respond to Income Shocks?
By Dirk Krueger, University of Pennsylvania Fabrizio Perri, University of Minnesota
   Presented by: Dirk Krueger, University of Pennsylvania
 

Inequality and Aggregate Fluctuations
By Jonathan Heathcote Kjetil Storesletten Gianluca Violante
   Presented by: Gianluca Violante, New York University
 

Distinguishing barriers to insurance in Thai villages
By Cynthia Kinnan; MIT
   Presented by: Cynthia Kinnan, MIT
 

INSURANCE, INVESTMENT, AND THE EXTENDED FAMILY
By manuela angelucci University of Arizona giacomo de giorgi Stanford University marcos rangel University of Chicago imran rasul University College London
   Presented by: Manuela Angelucci, University of Arizona

Session 75: Macroeconomic Effects of Oil Price Shocks

Date: July 4, 2009
Time: 10:00 - 12:00
 

Oil price shocks: Demand vs Supply in a two-country
By Alessia Campolmi; Central European University and Magyar Nemzeti Bank
   Presented by: Alessia Campolmi, Central European University & Magyar Nem
 

Time-Varying Effects of Oil Supply Shocks on the US Economy
By Christiane Baumeister, Ghent University Gert Peersman, Ghent University
   Presented by: Gert Peersman, Ghent University
 

Measuring Oil-price Shocks Using Market-based Information
[slides]
By Tao Wu, Research Department, Federal Reserve Bank of Dallas Michele Cavallo, International Finance Division, Federal Reserve Board
   Presented by: Tao Wu, Federal Reserve Bank of Dallas
 

Pitfalls in Estimating Asymmetric Effects of Energy Price Shocks
By Lutz Kilian ; University of Michigan and CEPR Robert J. Vigfusson ; Federal Reserve Board
   Presented by: Robert Vigfusson, Federal Reserve Board

Session 76: Productivity

Date: July 4, 2009
Time: 10:00 - 12:00
 

Policy Instability and Productivity
By Rody Manuelli Washington University in St. Louis Yongs Shin Washington University in St. Louis
   Presented by: Rodolfo Manuelli, University of Wisconsin
 

Innovation, Firm Dynamics, and International Trade
By Andrew Atkeson (UCLA) Ariel Burstein (UCLA)
   Presented by: Ariel Burstein, UCLA
 

Firm productivity and local externalities
By Hugo Hopenhayn, UCLA
   Presented by: Hugo A. Hopenhayn, UCLA
 

Accounting for Plant-level Misallocation
By Virgiliu Midrigan, New York University Daniel Yi Xu, New York University
   Presented by: Daniel Yi Xu, New York University

Session 77: Current Account Dynamics

Date: July 4, 2009
Time: 10:00 - 12:00
 

Excess Volatility of Consumption in Developed and Emerging Markets: The Role of Durable Goods
By Fernando A. Alvarez, Central Bank of Venezuela Luis B. Marques, Johns Hopkins University (SAIS) Manuel Toledo, Universidad Carlos III (Department of Economics)
   Presented by: Luis Marques, Johns Hopkins University
 

Housing Markets and Current Account Dynamics
By Pedro Gete University of Chicago
   Presented by: Pedro Gete, University of Chicago
 

International Trade and Labor Income Risk in the United States
By Pravin Krishna; Johns Hopkins University and NBER Mine Zeynep Senses; Johns Hopkins University
   Presented by: Mine Senses, Johns Hopkins University
 

Risk Matters: The Real E¤ects of Volatility Shocks
By Jesús Fernández-Villaverde (University of Pennsylvania) Pablo A. Guerron-Quintana (North Carolina State U) Juan Rubio-Ramirez (Duke U) Martin Uribe (Columbia U)
   Presented by: Jesus Fernandez-Villaverde, University of Pennsylvania

Session 78: Finance and Recessions

Date: July 4, 2009
Time: 10:00 - 12:00
 

A Model of Capital and Crises
By Zhiguo He, Chicago Booth Arvind Krishnamurthy, Northwestern Kellogg
   Presented by: Zhiguo He, University of Chicago, GSB
 

Bailouts, the Incentive to Manage Risk, and Financial Crises
By Stavros Panageas, University of Chicago, Booth School of Business and NBER
   Presented by: Stavros Panageas, University of Chicago - Booth School of Business
 

Illiquidity and Under-Valuation of Firms
By Douglas Gale; New York University Piero Gottardi; European University Institute
   Presented by: piero gottardi, European University Institute
 

Bank Competition and Economic Stability: The Role of Monetary Policy
By This paper analyzes the dual role of monetary policy for economic efficiency and stability in a model of endogenous bank competition. Multiple equilibria emerge from the complementarity between bank and non-financial firm decisions. Adverse aggregate or idiosyncratic liquidity shocks may cause a breakdown in which the economy collapses into a no-production equilibrium. Less bank competition improves the profitability of banks and makes the economy less vulnerable to adverse shocks but it also distorts the efficient allocation of capital. This stability/efficiency tradeoff creates a motive for monetary policy to be tight when liquidity is abundant to spur bank competition and to be loose in bad times to restore the profitability of banks and decrease the likelihood of economic and financial crashes.
   Presented by: Sylvain Champonnois, University of California, San Diego

Session 79: Search and Matching

Date: July 4, 2009
Time: 10:00 - 12:00
 

An Equilibrium Theory of Learning, Search and Wages
By Francisco Gonzalez (University of Calgary) Shouyong Shi (University of Toronto)
   Presented by: Shouyong Shi, University of Toronto
 

Unemployment and Human Capital
By Fernando Alvarez, University of Chicago Robert Shimer, University of Chicago
   Presented by: Robert Shimer, University of Chicago
 

The U-Shapes of Occupational Mobility
By Fane Nadja Groes, University of Kopenhagen Iourii Manovski, University of Pennsylvania Philipp Kircher, University of Pennsylvania
   Presented by: Philipp Kircher, University of Pennsylvania
 

Non-Stationary Search Equilibrium
By Giuseppe Moscarini, Yale University Fabien Postel-Vinay, University of Bristol
   Presented by: Giuseppe Moscarini, Yale University

Session 80: Trade & Growth

Date: July 4, 2009
Time: 10:00 - 12:00
 

Structural Change in an Open Economy
By Kei-Mu Yi; Research Department, Federal Reserve Bank of Philadelphia Jing Zhang; Department of Economics, University of Michigan
   Presented by: Kei-Mu Yi, Federal Reserve Bank of Philadelphia
 

Capital-goods imports, investment-specific technological change and U.S. growth
[slides]
By Michele Cavallo; Federal Reserve Board Anthony Landry; Federal Reserve Bank of Dallas
   Presented by: Michele Cavallo, Board of Governors of the Federal Reserve System
 

Structural Transformation and the Oil Price
By Radoslaw Stefanski; University of Minnesota
   Presented by: Radoslaw Stefanski, University of Minnesota
 

Fiscal Decentralization, Endogenous Policies and Technology Adoption: Theory and Evidence from China and India's FDI
By Yong Wang University of Chicago
   Presented by: Yong Wang, University of Chicago

Session 81: Product Creation and Destruction

Date: July 4, 2009
Time: 10:00 - 12:00
 

Product diversification, creation and destruction: Micro evidence and aggregate implications
By Chris Edmond, NYU Stern Virgiliu Midrigan, NYU Daniel Xu, NYU
   Presented by: Chris Edmond, New York University
 

Multi-product Firms and Product Turnover in the Developing World: Evidence from India
By Penny Goldberg, Princeton & NBER Amit Khandelwal, Columbia Business School Nina Pavcnik, Dartmouth & NBER Petia Topalova, IMF
   Presented by: Amit Khandelwal, Columbia Business School
 

The Role of Exporting and Trade for Entry over the Business Cycle
By George Alessandria, Federal Reserve Bank of Philadelphia Horag Choi, University of Auckland
   Presented by: Horag Choi, The University of Auckland
 

Economies of Scale and the Size of Exporters
By Roc Armenter; Federal Reserve Bank of Philadelphia Miklos Koren; Central European University
   Presented by: Miklos Koren, Central European University

Session 82: New Dynamic Public Finance

Date: July 4, 2009
Time: 10:00 - 12:00
 

Optimal Policy and the Risk-Properties of Human Capital Reconsidered
By Dan Anderberg, Royal Holloway University of London
   Presented by: Dan Anderberg, University of London
 

Dynamic Strategic Information Transmission
By Mikhail Golosov MIT Vasiliki Skreta NYU Aleh Tsyvinski Yale Andrea Wilson NYU
   Presented by: Mikhail Golosov, MIT
 

Non-Exclusive Dynamic Contracts, Competition, and the Limits of Insurance
By Pricila Maziero, University of Minnesota and Minneapolis Fed Laurence Ales, Tepper School of Business, Carnegie Mellon University
   Presented by: Pricila Maziero, University of Minnesota and Minneapolis Fed
 

Capital Taxation: Quantitative Explorations of the Inverse Euler Equation
By Emmanuel Farhi; Harvard Ivan Werning; MIT
   Presented by: Emmanuel Farhi, Harvard University

Session 83: Expectations in DSGE Models

Date: July 4, 2009
Time: 10:00 - 12:00
 

Anticipated Alternative Instrument-Rate Paths in Policy Simulations
By Stefan Laseen; Sveriges Riksbank Lars E.O. Svensson; Sveriges Riksbank and Princeton University
   Presented by: Stefan Laseen, Sveriges Riksbank
 

Modeling Inflation Expectations
By Marco Del Negro; Federal Reserve Bank of New York Stefano Eusepi; Federal Reserve Bank of New York
   Presented by: Stefano Eusepi, Fedral Reserve Bank of New York
 

Estimating a medium–scale DSGE model with expectations based on small forecasting models
By Sergey Slobodyan; CERGE-EI Raf Wouters; NBB
   Presented by: Sergey Slobodyan, CERGE-EI
 

Disciplining expectations: adding survey expectations in learning models
By Arturo Ormeno; Universitat Pompeu Fabra
   Presented by: Arturo Ormeno, Universitat Pompeu Fabra

Session 84: Bargaining in a Non-stationary Environment

Date: July 4, 2009
Time: 10:00 - 12:00
 

From Equals to Despots: The Dynamics of Repeated Group Decision Taking with Private Information
By Vinicius Carrasco, PUC Rio William Fuchs, University of Chicago
   Presented by: William Fuchs, University of Chicago
 

The Dynamics of Bargaining Postures: The Role of a Third Party
By Jihong Lee (Birkbeck College, University of London) and Qingmin Liu (University of Pennsylvania).
   Presented by: Qingmin Liu, Economics Department
 

Bargaining with Deadlines
By William Fuchs, University of Chicago Andrzej Skrzypacz, Stanford
   Presented by: Andrzej Skrzypacz, Stanford University
 

Reputation Formation with Hidden R&D
By Simon Board, UCLA Moritz Meyer-ter-Vehn, UCLA
   Presented by: Simon Board, UCLA

Session 85: Credit Risk: Theory & Measurement

Date: July 4, 2009
Time: 10:00 - 12:00
 

Equilibrium Subprime Lending
By Igor Makarov; London Business School Guillaume Plantin; London Business School
   Presented by: Igor Makarov, London Business School
 

Securitization and Distressed Loan Renegotiation: Evidence from the Subprime Mortgage Crisis
By Tomasz Piskorski, Columbia Business School Amit Seru, University of Chicago Vikrant Vig, London Business School
   Presented by: Tomasz Piskorski, Columbia GSB
 

Ambiguity, Information Quality and Credit Risk
By Nina Boyarchenko; University of Chicago Booth School of Business
   Presented by: Nina Boyarchenko, University of Chicago Graduate School of
 

A model of credit risk without commitment
By Juan Carlos Hatchondo, Federal Reserve Bank of Richmond Leonardo Martinez, Federal Reserve Bank of Richmond
   Presented by: Leonardo Martinez,

Session 86: Studies on Crises, Pollution and Trade

Date: July 4, 2009
Time: 10:00 - 12:00
 

Pollution, Abatementm and Sustainable Growth: A Schumpeterian Approach
By Oya Pinar Ardic; Bogazici University G. Bahar Senol, Bogazici University
   Presented by: Oya Ardic, Bogazici University
 

An Early Warning Signals Approach to the Currency Crises: The Turkish Case
By Ali ARI LEAD, Université du Sud, Toulon-Var, France
   Presented by: Ali Ari, Université du Sud, Toulon-Var
 

Intergenerational Effects of Trade Liberalization
By Erhan Artuc, Koc University, Istanbul
   Presented by: Erhan Artuc, Koc University, Istanbul

Session 87: Applied Macroeconomic Analyses with DSGE Models

Date: July 4, 2009
Time: 13:15 - 15:15
 

Monetary Policy, Trend Inflation and the Great Moderation: An Alternative Interpretation
By Olivier Coibion, College of William & Mary Yuriy Gorodnichenko, UC Berkeley
   Presented by: Yuriy Gorodnichenko, UC Berkeley
 

Potential and natural output
By Alejandro Justiniano, Chicago Fed Giorgio Primiceri, Northwestern University
   Presented by: Giorgio Primiceri, Northwestern University
 

Matching Micro and Macro Facts in a Model of State-Dependent Pricing
By John Leahy, New York University Jonathan Willis, Federal Reserve Bank of Kansas City
   Presented by: Jonathan Willis, Federal Reserve Bank of Kansas City
 

Correlated Disturbances and U.S. Business Cycles
By Vasco Curdia, FRB New York Ricardo Reis, Columbia University
   Presented by: Ricardo Reis, Columbia University

Session 88: Monetary Economics

Date: July 4, 2009
Time: 13:15 - 15:15
 

Monetary Theory with Non-degenerate Distributions
By Guido Menzio; University of Pennsylvania Shouyong Shi; University of Toronto Hongfei Sun; Queen's University
   Presented by: Hongfei Sun, Queen's University
 

Money and Costly Credit
By Mei Dong Simon Fraser University
   Presented by: Mei Dong, Simon Fraser University
 

Liquidity and Growth
By Aleksander Berentsen; University of Basel Mariana Rojas Breu; University of Basel Shouyong Shi; University of Toronto
   Presented by: Aleksander Berentsen, University of Basel
 

Optimal Stabilization with Endogenous Firm Entry
By Christopher Waller: University of Notre Dame and FRB-St. Louis Aleksander Berentsen; University of Basel.
   Presented by: Christopher Waller, University of Notre Dame

Session 89: Empirical Methods in Microeconomics

Date: July 4, 2009
Time: 13:15 - 15:15
 

Methods for Using Selection on Observed Variables to Address Selection on Unobserved Variables
By Joseph G. Altonji, Yale University Timothy Conley, University of Chicago Todd Elder, Michigan State University Christopher R. Taber, University of Wisconsin
   Presented by: Joseph Altonji, Yale University
 

Matching, Sorting and Wages
By Jeremy Lise, UCL & IFS Costas Meghir, UCL & IFS Jean-Marc Robin, PSE & UCL
   Presented by: Jeremy Lise, University College London
 

Choice of product under government regulation: The case of Chile's privatized pension system
By Elena Krasnokutskaya, Ludwig Ressner, Petra Todd
   Presented by: Petra Todd, University of Pennsylvania
 

On the Identification of Information Sets with Preference Heterogeneity
By Flavio Cunha, University of Pennsylvania
   Presented by: Flavio Cunha, University of Pennsylvania

Session 90: Heterogeneity and Growth

Date: July 4, 2009
Time: 13:15 - 15:15
 

Creditor Rights, Inequality and Development in a Neoclassical Growth Model
By Benjamin Moll - University of Chicago
   Presented by: Benjamin Moll, University of Chicago
 

Polarization under incomplete markets and endogenous labor productivity
By Albert Marcet, IAE (CSIC) Francesc Obiols-Homs, UAB
   Presented by: Francesc Obiols Homs,
 

Entry Costs, Misallocation, and Cross-Country Income and TFP Differences
By Levon Barseghayn; Cornell University Riccardo DiCecio; FRB of St. Louis
   Presented by: Riccardo DiCecio, Federal Reserve Bank of St. Louis
 

Firm Size, Innovation Dynamics and Growth
By Ufuk Akcigit; MIT
   Presented by: Ufuk Akcigit, Massachusetts Institute of Technology

Session 91: Political Economy

Date: July 4, 2009
Time: 13:15 - 15:15
 

International migration and the generosity of the welfare state: free vs policy-controlled migration
By Alon Cohen, Tel Aviv University Assaf Razin, Tel Aviv University and Cornell University
   Presented by: Assaf Razin, Cornell University
 

Economic Volatility and Political Institutions
By Alessandra Bonfiglioli; IAE-CSIC Gino Gancia; CREI UPF and CEPR
   Presented by: Alessandra Bonfiglioli, Institute for Economic Analysis
 

Ideology and Endogenous Constitutions
By Alessandro Riboni, University of Montreal
   Presented by: Alessandro Riboni, University of Montreal
 

"Decolonization: the Role of Changing World Factor Endowments"
By Roberto Bonfatti; LSE and Oxford University
   Presented by: Roberto Bonfatti, LSE

Session 92: Matching in Labor Markets

Date: July 4, 2009
Time: 13:15 - 15:15
 

Labour market effects of public sector employment and wages
By Pedro Gomes, London School of Economics
   Presented by: Pedro Gomes, London School of Economics
 

Labor Market Friction, Firm Heterogeneity, and Aggregate Employment and Productivity
By Rasmus Lentz; University of Wisconsin-Madison Dale T. Mortensen; Northwestern University and Aarhus University
   Presented by: Rasmus Lentz, University of Wisconsin-Madison
 

Wage Dispersion and Inter-Firm Bargaining in a Search and Matching Model
By Dale T. Mortensen; Northwestern and Aarhus Universities
   Presented by: Dale Mortensen, Northwestern University
 

Worker Matching and Firm Value
By Espen R. Moen; Norwegian School of Management Eran Yashiv; Tel Aviv University
   Presented by: Eran Yashiv, Tel Aviv University

Session 93: Trading Risk in International Financial Markets

Date: July 4, 2009
Time: 13:15 - 15:15
 

The Role of Multinational Production in a Risky Environment
By Natalia Ramondo, U. Texas-Austin VEronica Rappoport, Columbia Business School
   Presented by: Natalia Ramondo, University of Texas at Austin
 

International and Intra-national Real Exchange Rates: Evidence and Theory
By Michael Devereux; UBC Viktoria Hnatkovska; UBC
   Presented by: Viktoria Hnatkovska, University of British Columbia
 

Risk sensitive allocations with multiple goods in international finance. Existence, survivorship, and dynamics.
By Riccardo Colacito, UNC-Chapel Hill Mariano Croce, UNC-Chapel Hill
   Presented by: Riccardo Colacito, University of North Carolina at Chapel Hill
 

Arbitrage Capital and Currency Carry Trade Returns
By Petri Jylhä, Helsinki School of Economics Matti Suominen, Helsinki School of Economics
   Presented by: Matti Suominen, Helsinki School of Economics

Session 94: Firm Risk and Asset Prices

Date: July 4, 2009
Time: 13:15 - 15:15
 

Organization Capital and the Cross-Section of Expected Returns
By Andrea Eisfeldt; Northwestern University Dimitris Papanikolaou; Northwestern University
   Presented by: Andrea Eisfeldt, Northwestern University
 

Inventory Investment and the Cost of Capital
By Christopher S. Jones, USC Selale Tuzel, USC
   Presented by: Selale Tuzel, University of Southern California
 

Credit Rationing, Risk Aversion and Industrial Evolution in Developing Countries
By Eric Bond, Vanderbilt University James Tybout, Pennsylvania State University Hale Utar, University of Colorado at Boulder
   Presented by: Hale Utar, University of Colorado at Boulder
 

Credit Market Shocks and Economic Fluctuations: Evidence from Corporate Bond and Stock Markets
By Simon Gilchrist; Boston University Vladimir Yankov; Boston University Egon Zakrajsek; Boston University
   Presented by: Simon Gilchrist, Boston University

Session 95: Empirical Industrial Organization

Date: July 4, 2009
Time: 13:15 - 15:15
 

Auctioneers as Agents
By Tanjim Hossain, HKUST Fahad Khalil, University of Washington Matthew Shum, Caltech
   Presented by: Tanjim Hossain, HKUST
 

"When the Highest Bidder Loses the Auction: Theory and Evidence from Public Procurement"
By Francesco Decarolis
   Presented by: Francesco Decarolis, The University of Chicago
 

Social Learning and Optimal Advertising in the Motion Picture Industry
By Hailey Hayeon Joo Department of Economics Ohio University
   Presented by: Hailey Hayeon Joo, Ohio University
 

Identifying Heterogeneity in Economic Choice and Selection Models Using Mixtures
By Jeremy T. Fox, Chicago Amit Gandhi, Wisconsin
   Presented by: Jeremy Fox, University of Chicago

Session 96: Real Effects of Credit Market Imperfections

Date: July 4, 2009
Time: 13:15 - 15:15
 

LENDER EXPERTISE AND PROPAGATION OF CREDIT SHOCKS
By Garey Ramey; University of California, San Diego
   Presented by: Garey Ramey, UC San Diego
 

The Case for a Financial Approach to Money Demand
By Xavier Ragot, Banque de France and Paris School of Economics
   Presented by: Xavier Ragot, Paris School of Economics
 

Real Effects of Price Stability with Endogenous Nominal Indexation
By Cesaire Meh (Bank of Canada) Vincenzo Quadrini (University of Southern California and NBER) Yaz Terajima (Bank of Canada)
   Presented by: Cesaire Meh, Bank of Canada
 

Liquidity and Financial Intermediation
By Ravi Bansal; Duke University and NBER Wilbur John Coleman II; Duke University Christian Lundblad; University of North Carolina at Chapel Hill
   Presented by: Wilbur Coleman, Duke University

Session 97: Trade & Firm Heterogeneity

Date: July 4, 2009
Time: 13:15 - 15:15
 

Firm Heterogeneity and Costly Trade: A New Estimation Strategy and Policy Experiments.
By Ivan Cherkashin; Department of Economics, Pennsylvania State University Svetlana Demidova; Department of Economics, McMaster University Hiau Looi Kee; Development Research Group - Trade, The World Bank Kala Krishna; Department of Economics, Pennsylvania State University and NBER
   Presented by: Ivan Cherkashin, Penn State University
 

Trade Reforms and Market Selection: Evidence from Manufacturing Plants in Colombia
By Marcela Eslava; Universidad de Los Andes John Haltiwanger; University of Maryland, College Park Adriana Kugler; University of Houston Maurice Kugler: Wilfrid Laurier University
   Presented by: Marcela Eslava, Universidad de Los Andes
 

Do Falling Iceberg Costs Account for US Export Growth?
By George Alessandria Federal Reserve Bank of Philadelphia Horag Choi University of Auckland
   Presented by: George Alessandria, Federal Reserve Bank of Philadelphia
 

Human Capital, Product Quality, and Bilateral Trade
By Michael E. Waugh Federal Reserve Bank of Minneapolis NYU
   Presented by: Michael Waugh, Federal Reserve Bank of Minneapolis

Session 98: Topics on Crises and Growth

Date: July 4, 2009
Time: 13:15 - 15:15
 

Provision of Liquidity through the Primary Credit Facility during the Financial Crisis: A Structural Analysis
By Erhan Artuc, Koc University Selva Demiralp, Koc University
   Presented by: Selva Demiralp, Koc University
 

Business Cycle Spillovers
By Kamil Yilmaz; Koc University, Istanbul Turkey
   Presented by: Kamil Yilmaz, Koc University
 

Not-Quite-Great Depressions of Turkey: A Quantitative Analysis of Economic Growth over 1968 - 2004
By Deniz Cicek; University of Minnesota Ceyhun Elgin; University of Minnesota
   Presented by: Ceyhun Elgin, University of Minnesota
 

Growth Facts in Turkey
By Ayse Imrohoroglu; University of Southern California Selahattin Imrohoroglu; University of Southern California Murat Üngör; University of Southern California
   Presented by: Selahattin Imrohoroglu, University of Southern California

Session 99: The Role of Beliefs in Asset pricing

Date: July 4, 2009
Time: 15:45 - 17:45
 

Non-nested Information Sets and the Term Structure of Interest Rates
By Kristoffer Nimark; CREI and Universitat Pompeu Fabra
   Presented by: Kristoffer Nimark, Universitat Pompeu Fabra
 

Market Selection
By Leonid Kogan, MIT Stephen Ross, MIT Jiang Wang, MIT Mark Westerfield, USC
   Presented by: Mark Westerfield, University of Southern California
 

Beliefs about Inflation and the Term Structure of Interest Rates
By Paul Ehling; BI-Oslo Michael Gallmeyer; Texas A&M University Christian Heyerdahl-Larsen; BI-Oslo Philipp Illeditsch; University of Pennsylvania
   Presented by: Michael Gallmeyer, Texas A&M University
 

Heterogeneous beliefs under recursive preferences
By Jaroslav Borovicka; University of Chicago
   Presented by: Jaroslav Borovicka, University of Chicago

Session 100: The Welfare Consequences of International Financial Integration

Session Chair: Mark Wright, UCLA
Date: July 4, 2009
Time: 15:45 - 17:45
 

Capital Mobility and Reform
By Pierre-Olivier Gourinchas, UC Berkeley, NBER and CEPR Olivier Jeanne, John Hopkins University, Peterson Institute
   Presented by: Pierre-Olivier Gourinchas, UC Berkeley
 

Transition to FDI Openness
[slides]
By Ellen McGrattan
   Presented by: Ellen McGrattan, Federal Reserve Bank of Minneapolis
 

HOW BIG ARE THE GAINS FROM INTERNATIONAL FINANCIAL INTEGRATION?
By Indrit Hoxa, University of Houston Sebnem Kalemli-Ozcan, University of Houston and NBER Dietrich Vollrath, University of Houston
   Presented by: Sebnem Kalemli-Ozcan, University of Houston
 

50 Years of Capital Flows
By Lee E. Ohanian, UCLA Mark L. J. Wright, UCLA
   Presented by: Mark Wright, UCLA

Session 101: Micro-foundations of Pricing

Date: July 4, 2009
Time: 15:45 - 17:45
 

Reconsidering the Microeconomic Foundations of Price-Setting Behavior
By Andrew Levin; Federal Reserve Board Tack Yun; Federal Reserve Board
   Presented by: Tack Yun, Federal Reserve Board
 

Inflation Asymmetry and Menu Costs - New Micro Data Evidence
By Peter Karadi; New York University Adam Reiff; National Bank of Hungary
   Presented by: Peter Karadi, New York University
 

Sales and Monetary Policy
By Bernardo Guimaraes, London School of Economics Kevin Sheedy, London School of Economics
   Presented by: Kevin Sheedy, London School of Economics
 

Estimating the Cross-sectional Distribution of Price Stickiness from Aggregate Data
By Carlos Carvalho, Federal Reserve Bank of New York Niels Arne Dam, Danmarks Nationalbank
   Presented by: Carlos Carvalho, Federal Reserve Bank of New York

Session 102: Understanding Consumption Behavior

Date: July 4, 2009
Time: 15:45 - 17:45
 

Theoretical Foundations of Buffer Stock Saving
By Christopher D. Carroll
   Presented by: Christopher Carroll, The Johns Hopkins University
 

Deconstructing Life-cycle Consumption with Home Production
By Wenli Li; Federal Reserve Bank of Philadelphia Fang Yang; State University of New York at Albany
   Presented by: Wenli Li, Federal Reserve Bank of Philadelphia
 

Price Search, Consumption Inequality, and Expenditure Inequality in a Life Cycle Model
By Yavuz Arslan; Central Bank of Turkey Temel Taskin; University of Rochester
   Presented by: Temel Taskin, University of Rochester
 

House Prices and Risk Sharing
By Dmytro Hryshko, University of Alberta Maria Jose Luengo-Prado, Northeastern University Bent E. Sorensen, University of Houston
   Presented by: Bent Sorensen, University of Houston

Session 103: Advances in Computation of Dynamic Economies

Date: July 4, 2009
Time: 15:45 - 17:45
 

Numerical Simulation of Nonoptimal Dynamic Equilibrium Models
By Jianjun Miao; Boston University Zhigang Feng; University of Miami Adrian Peralta-Alva; Federal Reserve Bank of Saint Louis Manuel Santos; University of Miami
   Presented by: Adrian Peralta-Alva, Federal Reserve Bank of St. Louis
 

Approximate Aggregation in Heterogeneous-Agent Models
By Michael Reiter; IHS, Vienna
   Presented by: Michael Reiter, IHS
 

Solving Dynamic Models with Heterogeneous Agents and Aggregate Uncertainty with Dynare or Dynare++
By Wouter J. DEN HAAN; University of Amsterdam and CEPR Tarık Sezgin OCAKTAN; Paris School of Economics
   Presented by: Tarik Ocaktan, Paris School of Economics
 

Computing Densities in Stochastic Recursive Economies: Generalized Look-Ahead Techniques
By Richard Anton Braun; University of Tokyo Huiyu Li; University of Tokyo John Stachurski; Kyoto University
   Presented by: R. Braun, University of Tokyo

Session 104: Household Credit & Bankruptcy

Date: July 4, 2009
Time: 15:45 - 17:45
 

Credit Lines
By Xavier Mateos-Planas; University of Southampton Jose-Victor Rios-Rull;University of Minnesota, FRB Mpls, CAERP, NBER
   Presented by: Xavier Mateos-Planas, University of Southampton
 

Equilibrium Default and Temptation
By Makoto Nakajima; Federal Reserve Bank of Philadelphia
   Presented by: Makoto Nakajima, Federal Reserve Bank of Philadelphia
 

Bankruptcy and Debt Portfolios
By Thomas Hintermaier, Institute for Advanced Studies, Vienna (IHS) Winfried Koeniger, Queen Mary, University of London
   Presented by: Winfried Koeniger, Queen Mary, University of London
 

Liquidity Constraints of the Middle Class
By Jeffrey R. Campbell -- Federal Reserve of Chicago Zvi Hercowitz -- Tel Aviv University
   Presented by: Zvi Hercowitz, Tel Aviv University

Session 105: Trade & Inequality

Date: July 4, 2009
Time: 15:45 - 17:45
 

Unemployment in an Interdependent World
By Gabriel Felbermayr; Hohenheim University Mario Larch; University of Munic and CESifo Wolfgang Lechthaler; University of Kiel and IFW
   Presented by: Gabriel Felbermayr, University of Hohenheim
 

Firm Dynamics, Job Turnover, and Wage Distributions in an Open Economy
By A. Kerem Cosar; Pennsylvania State University Nezih Guner; Universidad Carlos III de Madrid James Tybout; Pennsylvania State University
   Presented by: Nezih Guner, Universidad Carlos III de Madrid
 

Optimal Redistribution in an Open Economy
By Oleg Itskhoki; Harvard University
   Presented by: Oleg Itskhoki, Harvard University
 

Financial Crises and Labor Market Turbulence
By Sangeeta Pratap; Hunter College and Graduate Center, CUNY Erwan Quintin; Federal Reserve Bank of Dallas
   Presented by: Sangeeta Pratap, Hunter College and CUNY Graduate Center

Session 106: Dynamic Games and Reputation

Date: July 4, 2009
Time: 15:45 - 15:45
 

Reputations with Long Run Players
By Alp Atakan Mehmet Ekmekci
   Presented by: Mehmet Ekmekci, Northwestern University
 

Collaborating
By Alessandro Bonatti; Yale University Johannes Horner; Yale University
   Presented by: Alessandro Bonatti, Yale University
 

Reputation with Long Run Players and Imperfect Observation
By Alp Atakan, MEDS/KSM, Northwestern University Mehmet Ekmekci, MEDS/KSM, Northwestern University
   Presented by: Alp Atakan, Northwestern University
 

Reputation with Equal Discounting in a Dynamic Cournot Oligopoly
By Eduardo Faingold
   Presented by: Eduardo Faingold, Yale University

Session 107: Firm Heterogeneity & Macro

Date: July 4, 2009
Time: 15:45 - 17:45
 

What is the Relationship between Competition and Productivity
By Yan Bai; Arizona State University Berthold Herrendorf; Arizona State University
   Presented by: Berthold Herrendorf, Arizona State University
 

Firm-Specific Productivity Risk over the Business Cycle: Facts and Aggregate Implications
By Christian Bayer; Bonn University Ruediger Bachmann; University of Michigan
   Presented by: Christian Bayer, Bocconi University
 

The Cross-section of Firms over the Business Cycle: New Facts and a DSGE Exploration
By Ruediger Bachmann; University of Michigan Christian Bayer; Bonn University
   Presented by: Ruediger Bachmann, University of Michigan
 

Capital misallocation and aggregate factor productivity
By Costas Azariadis; Washington University in St. Louis Leo Kaas; University of Konstanz
   Presented by: Leo Kaas, University of Konstanz

Session 108: New Elements in Business Cycle Models

Date: July 4, 2009
Time: 15:45 - 17:45
 

Advertising and Business Cycle Fluctuations
By Benedetto Molinari; Universidad Pablo Olavide and Universitat Pompeu Fabra Francesco Turino; Universitat D'Alacant and Universitat Pompeu Fabra
   Presented by: Benedetto Molinari, UPF
 

Computing Models with Recursive Preferences
By Dario Caldara; Institute for International Economic Studies Jesus Fernandez Villaverde; University of Pennsylvania Juan Rubio Ramirez; Duke University Wen Yao; University of Pennsylvania
   Presented by: Dario Caldara, IIES
 

Contractionary technology improvements in multi-sector DSGE models
By Susanto Basu; Boston College and NBER John Fernald; Federal Reserve Bank of San Francisco
   Presented by: John Fernald, Federal Reserve Bank of San Francisco
 

Monetary Policy Regimes and the Term Structure of Interest Rates
By Ruslan Bikbov, Barclays Capital Mikhail Chernov, London Business School and CEPR
   Presented by: Mikhail Chernov, London Business School

Session 109: Search and Contracts in the Labor Market

Date: July 4, 2009
Time: 15:45 - 17:45
 

Aggregate Implications of Employer Search and Recruiting Selection
By University of Rochester
   Presented by: Benjamin Villena-Roldan, University of Rochester
 

Unemployment Insurance Eligibility, Moral Hazard and Equilibrium Unemployment
By Min Zhang University of Toronto
   Presented by: Min Zhang, University of Toronto
 

Repeated Moral Hazard with Worker Mobility via Directed On-the-Job Search
By Kunio Tsuyuhara, University of Toronto
   Presented by: Kunio Tsuyuhara, University of Toronto
 

Unionization Patterns and Firm Reallocation
By Edgar Preugschat; Norwegian School of Management (BI)
   Presented by: Edgar Preugschat, Norwegian School of Management (BI)

This program was last updated on 2009-06-15 9:1:12 EDT


Session 110: Optimal Fiscal Policy

Date: July 4, 2009
Time: 15:45 - 17:45
 

Tax Reform with Endogenous Borrowing Limits and Incomplete Asset Markets
By Arpad Abraham, University of Rochester Eva Carceles Poveda, Stony Brook University
   Presented by: Eva Carceles-Poveda, SUNY at Stony Brook
 

Heterogeneous Beliefs and Optimal Taxation
[slides]
By Facundo Piguillem; University of Minnesota and Federal Reserve Bank of Minneapolis. Anderson Schneider; University of Minnesota and Federal Reserve Bank of Minneapolis.
   Presented by: Juan Piguillem, University of Minnesota
 

On the Assumptions of the Optimal Taxation Problem: Is Distortionary Taxation a Burden or a Blessing?
By Pedro Teles;Banco de Portugal, Universidade Catolica Portuguesa and CEPR;
   Presented by: Pedro Teles, Banco de Portugal, Univ Catolica Portugu
 

Optimal Fiscal Policy over the Business Cycle with Productive Government Infrastructures
By Martin Gervais; University of Southampton, University of Texas at Austin, IFS Alessandro Mennuni; University of Southampton
   Presented by: Martin Gervais, University of Southampton