2013 Annual Meeting of the Society for Economic Dynamics

Yonsei University, Seoul

 
June 27, 2013
 
09:45 to 11:45Morning 27
 
 
13:00 to 15:00Afternoon 27
 
 
15:30 to 17:30Evening 27
 
 
17:45 to 18:45Mark Watson Plenary, B130
 
 
 
June 28, 2013
 
09:45 to 11:45Morning 28
 
 
13:00 to 15:00Afternoon 28
 
 
15:30 to 17:30Evening 28
 
 
17:45 to 18:45Hal Cole Plenary, B130
 
 
 
June 29, 2013
 
09:45 to 11:45Morning 29
 
 
13:00 to 15:00Afternoon 29
 
 
15:30 to 17:30Evening 29
 
 
17:45 to 18:45Gianluca Violante Plenary, B130
 
 

 

Program Notes and Index of Sessions

Morning 27
June 27, 2013 09:45 to 11:45
 
Productivity and Economic Growth, B106
Dynamic Models of Old-Age Risks, 101
Macro Labor, 201
Sovereign Debt and Default, B112
Fluctuations in Macro and Finance, B121
China, B109
Housing, Leverage, Demand and the Recession, B120
Culture, Social Learning and Human Development, 110
Labor and Capital Market Frictions, 113
Marriage, Divorce, and Fertility, 115
Financial Regulation, 112
Trade and Inequality, 102

Afternoon 27
June 27, 2013 13:00 to 15:00
 
Uncertainty and the Macroeconomy, B112
Topics in International Trade I, 101
Inflation and Currency Risk, B120
Housing and Portfolio Choice, 115
Labor Supply and Insurance, B121
Firm Dynamics and Aggregate Productivity, B106
Information in Finacial Markets, 201
Monetary and Macroprudential Policy, B109
Bankruptcy and Repayment, 113
Economic Growth and Structural Change, 112
Political Economy, 102
Topics in IO, 110

Evening 27
June 27, 2013 15:30 to 17:30
 
Fiscal Policy, Public Debt and Risk Sharing, B106
Networks and Supply Chains, B112
Credit Booms. Early Warnings?, 101
Imports, Productivity and Trade Reform, B121
Firm Dynamics and Financial Frictions, 115
Development and Growth, B120
Advances in NDPF, 201
Open Economy Macro, 110
Technology Adoption, Innovation and Diffusion, 113
Housing and Inventory dynamics, 102
Earnings and Labor Supply Dynamics, 112
Labor Markets and Unemployment, B109

Mark Watson Plenary
B130
June 27, 2013 17:45 to 18:45

Morning 28
June 28, 2013 09:45 to 11:45
 
Inflation dynamics, B106
Topics in International Trade II, B112
Macroeconomic Externalities with Financial Frictions, B121
Structural Transformation, Development, and Urbanization, B120
Migration and Labor Markets, 115
Unemployment in the Great Recession, B109
Perspectives on the Arab Spring, 110
Exchange Rates and Prices, 101
Robustness and Heterogeneous Beliefs, 113
Pricing Frictions, 102
Public Finance in Aging Societies, 201
Corporate Finance, 112

Afternoon 28
June 28, 2013 13:00 to 15:00
 
Tax Policy in a Diverse World, B121
Financial Intermediation and the Macroeconomy, 201
Exchange Rates and Capital Controls, B106
Search and Information Frictions, B120
Wage Inequality I, B109
The Big Recession: Aggregate Demand or Frictions to Reallocation?, 110
Firm Dynamics, Growth, Trade, and Productivity, 101
Demand Effects and Labour Market Interactions, B112
Asset Pricing, 113
Labor Market Shocks, 115
International Macro, 102
Labor Supply and Aggregate Fluctuations, 112

Evening 28
June 28, 2013 15:30 to 17:30
 
Expectations, B121
Empirical Industrial Organization, B106
Policy making and the Great Recession, 201
International Capital Flows, B109
Labor Market Search: Heterogeneity and Aggregate Uncertainty, B120
Default, Crises, and Financial Intermediation, 110
Advances in Public Finance, 113
Macroeconomics Across Time and Space, B112
Household Risk Sharing, 102
Productivity and Growth, 101
Macro Finance, 112
Geography, Risk Sharing, and Income Inequality, 115

Hal Cole Plenary
B130
June 28, 2013 17:45 to 18:45

Morning 29
June 29, 2013 09:45 to 11:45
 
Human Capital and Development, B120
Bubbles and Identification in DSGE models, B106
Networks in Macroeconomics, 201
Dynamic Taxation and Insurance, B112
Entry Costs, Firm Sizes, and Development, B109
Search Theory, 110
Uncertainty and Fluctuations, 101
Government Spending, B121
Inequality and Intergenerational Mobility, 113
Longevity, Fertility, and Health, 102
Household Insurance and Credit, 112
Money, Liquidity, and Trading in OTC Markets, 115

Afternoon 29
June 29, 2013 13:00 to 15:00
 
Sovereign Debt, 201
Search in the Housing Market, B120
Family, Demography, and the Macroeconomy, B106
The Service Sector Across Time and Countries, 115
Tax Distortions and Political Economy, B109
Information Frictions: Theory and Evidence, B112
Global Production, 101
Barriers to Reallocation, B121
Monetary Policy and Welfare, 110
Labor and Finance, 113
Output, Inflation, and International Macroeconomic Dynamics , 102
Global and Repeated Games, 112

Evening 29
June 29, 2013 15:30 to 17:30
 
Parameter instability in DSGE models, B106
Financial Frictions and Field Experiments in General Equilibrium, 115
International Macro-Finance, B121
Monetary Policy and the Zero Bound on Interest Rates, B109
Unemployment, Product Markets and Search, B112
Uncertainty, Expectations and Business Cycles, B120
Trade and Development, 201
Sovereign Default, Savings and Capital Flows, 101
Human Capital and Technical Change, 110
Wage Inequality II, 113
Solution Methods, 102
Risk and Portfolio Choice, 112

Gianluca Violante Plenary
B130
June 29, 2013 17:45 to 18:45

 

Summary of All Sessions

Click here for an index of all participants

#Date/TimeTitlePapers
1June 27, 2013
9:45-11:45
Productivity and Economic Growth4
2June 27, 2013
9:45-11:45
Dynamic Models of Old-Age Risks4
3June 27, 2013
9:45-11:45
Macro Labor4
4June 27, 2013
9:45-11:45
Sovereign Debt and Default4
5June 27, 2013
9:45-11:45
Fluctuations in Macro and Finance3
6June 27, 2013
9:45-11:45
China4
7June 27, 2013
9:45-11:45
Housing, Leverage, Demand and the Recession4
8June 27, 2013
9:45-11:45
Culture, Social Learning and Human Development4
9June 27, 2013
9:45-11:45
Labor and Capital Market Frictions4
10June 27, 2013
9:45-11:45
Marriage, Divorce, and Fertility4
11June 27, 2013
9:45-11:45
Trade and Inequality3
12June 27, 2013
9:45-11:45
Financial Regulation4
13June 27, 2013
13:00-15:00
Uncertainty and the Macroeconomy4
14June 27, 2013
13:00-15:00
Topics in International Trade I4
15June 27, 2013
13:00-15:00
Inflation and Currency Risk4
16June 27, 2013
13:00-15:00
Housing and Portfolio Choice4
17June 27, 2013
13:00-15:00
Labor Supply and Insurance4
18June 27, 2013
13:00-15:00
Firm Dynamics and Aggregate Productivity4
19June 27, 2013
13:00-15:00
Information in Finacial Markets4
20June 27, 2013
13:00-15:00
Monetary and Macroprudential Policy4
21June 27, 2013
13:00-15:00
Topics in IO4
22June 27, 2013
13:00-15:00
Bankruptcy and Repayment4
23June 27, 2013
13:00-15:00
Economic Growth and Structural Change4
24June 27, 2013
13:00-15:00
Political Economy4
25June 27, 2013
15:30-17:30
Fiscal Policy, Public Debt and Risk Sharing4
26June 27, 2013
15:30-17:30
Networks and Supply Chains4
27June 27, 2013
15:30-17:30
Credit Booms. Early Warnings?4
28June 27, 2013
15:30-17:30
Imports, Productivity and Trade Reform4
29June 27, 2013
15:30-17:30
Firm Dynamics and Financial Frictions4
30June 27, 2013
15:30-17:30
Development and Growth4
31June 27, 2013
15:30-17:30
Advances in NDPF4
32June 27, 2013
15:30-17:30
Open Economy Macro4
33June 27, 2013
15:30-17:30
Technology Adoption, Innovation and Diffusion4
34June 27, 2013
15:30-17:30
Housing and Inventory dynamics4
35June 27, 2013
15:30-17:30
Earnings and Labor Supply Dynamics4
36June 27, 2013
15:30-17:30
Labor Markets and Unemployment4
37June 28, 2013
9:45-11:45
Inflation dynamics4
38June 28, 2013
9:45-11:45
Topics in International Trade II4
39June 28, 2013
9:45-11:45
Macroeconomic Externalities with Financial Frictions4
40June 28, 2013
9:45-11:45
Structural Transformation, Development, and Urbanization4
41June 28, 2013
9:45-11:45
Migration and Labor Markets4
42June 28, 2013
9:45-11:45
Unemployment in the Great Recession4
43June 28, 2013
9:45-11:45
Perspectives on the Arab Spring3
44June 28, 2013
9:45-11:45
Exchange Rates and Prices4
45June 28, 2013
9:45-11:45
Robustness and Heterogeneous Beliefs4
46June 28, 2013
9:45-11:45
Pricing Frictions4
47June 28, 2013
9:45-11:45
Public Finance in Aging Societies4
48June 28, 2013
9:45-11:45
Corporate Finance4
49June 28, 2013
13:00-15:00
Tax Policy in a Diverse World4
50June 28, 2013
13:00-15:00
Financial Intermediation and the Macroeconomy4
51June 28, 2013
13:00-15:00
Exchange Rates and Capital Controls4
52June 28, 2013
13:00-15:00
Search and Information Frictions4
53June 28, 2013
13:00-15:00
Wage Inequality I4
54June 28, 2013
13:00-15:00
The Big Recession: Aggregate Demand or Frictions to Reallocation?4
55June 28, 2013
13:00-15:00
Firm Dynamics, Growth, Trade, and Productivity4
56June 28, 2013
13:00-15:00
Demand Effects and Labour Market Interactions4
57June 28, 2013
13:00-15:00
Asset Pricing4
58June 28, 2013
13:00-15:00
Labor Market Shocks4
59June 28, 2013
13:00-15:00
International Macro4
60June 28, 2013
13:00-15:00
Labor Supply and Aggregate Fluctuations4
61June 28, 2013
15:30-17:30
Expectations3
62June 28, 2013
15:30-17:30
Empirical Industrial Organization4
63June 28, 2013
15:30-17:30
Policy making and the Great Recession4
64June 28, 2013
15:30-17:30
International Capital Flows4
65June 28, 2013
15:30-17:30
Labor Market Search: Heterogeneity and Aggregate Uncertainty4
66June 28, 2013
15:30-17:30
Default, Crises, and Financial Intermediation4
67June 28, 2013
15:30-17:30
Advances in Public Finance4
68June 28, 2013
15:30-17:30
Macroeconomics Across Time and Space4
69June 28, 2013
15:30-17:30
Household Risk Sharing4
70June 28, 2013
15:30-17:30
Productivity and Growth4
71June 28, 2013
15:30-17:30
Macro Finance4
72June 28, 2013
15:30-17:30
Geography, Risk Sharing, and Income Inequality3
73June 29, 2013
9:45-11:45
Human Capital and Development4
74June 29, 2013
9:45-11:45
Bubbles and Identification in DSGE models4
75June 29, 2013
9:45-11:45
Networks in Macroeconomics4
76June 29, 2013
9:45-11:45
Money, Liquidity, and Trading in OTC Markets4
77June 29, 2013
9:45-11:45
Dynamic Taxation and Insurance4
78June 29, 2013
9:45-11:45
Entry Costs, Firm Sizes, and Development4
79June 29, 2013
9:45-11:45
Search Theory4
80June 29, 2013
9:45-11:45
Uncertainty and Fluctuations4
81June 29, 2013
9:45-11:45
Government Spending4
82June 29, 2013
9:45-11:45
Inequality and Intergenerational Mobility4
83June 29, 2013
9:45-11:45
Longevity, Fertility, and Health4
84June 29, 2013
9:45-11:45
Household Insurance and Credit4
85June 29, 2013
13:00-15:00
Sovereign Debt4
86June 29, 2013
13:00-15:00
Search in the Housing Market4
87June 29, 2013
13:00-15:00
Family, Demography, and the Macroeconomy4
88June 29, 2013
13:00-15:00
The Service Sector Across Time and Countries4
89June 29, 2013
13:00-15:00
Tax Distortions and Political Economy4
90June 29, 2013
13:00-15:00
Information Frictions: Theory and Evidence4
91June 29, 2013
13:00-15:00
Global Production4
92June 29, 2013
13:00-15:00
Barriers to Reallocation3
93June 29, 2013
13:00-15:00
Monetary Policy and Welfare4
94June 29, 2013
13:00-15:00
Labor and Finance4
95June 29, 2013
13:00-15:00
Output, Inflation, and International Macroeconomic Dynamics 4
96June 29, 2013
13:00-15:00
Global and Repeated Games4
97June 29, 2013
15:30-17:30
Parameter instability in DSGE models4
98June 29, 2013
15:30-17:30
Financial Frictions and Field Experiments in General Equilibrium4
99June 29, 2013
15:30-17:30
International Macro-Finance3
100June 29, 2013
15:30-17:30
Monetary Policy and the Zero Bound on Interest Rates4
101June 29, 2013
15:30-17:30
Risk and Portfolio Choice4
102June 29, 2013
15:30-17:30
Unemployment, Product Markets and Search4
103June 29, 2013
15:30-17:30
Uncertainty, Expectations and Business Cycles4
104June 29, 2013
15:30-17:30
Trade and Development4
105June 29, 2013
15:30-17:30
Sovereign Default, Savings and Capital Flows4
106June 29, 2013
15:30-17:30
Human Capital and Technical Change4
107June 29, 2013
15:30-17:30
Wage Inequality II3
108June 29, 2013
15:30-17:30
Solution Methods4
 

108 sessions, 424 papers, and 0 presentations with no associated papers


 

2013 Annual Meeting of the Society for Economic Dynamics

Detailed List of Sessions

 
Session 1: Productivity and Economic Growth
June 27, 2013 9:45 to 11:45
 
 

1. Size-Dependent Regulations, Firm Size Distribution, and Reallocation
By Francois Gourio; Boston University
Nicolas Roys; University of Wisconsin - Madison
   Presented by: Nicolas Roys, University of Wisconsin - Madison
 

2. Investment and Productivity Dynamics at the Plant and the Firm Level
By Matthias Kehrig; University of Texas at Austin
Nicolas Vincent; HEC Montréal
   Presented by: Matthias Kehrig, University of Texas at Austin
 

3. Dynamic Sorting
By Simeon Alder; University of Notre Dame
Moritz Meyer-ter-Vehn; UCLA
Lee Ohanian; University of California Los Angeles
   Presented by: Simeon Alder, University of Notre Dame
 

4. Rethinking the Growth of Nations
By Alexander Monge-Naranjo; Federal Reserve Bank of St. Louis
Juan Sanchez; Federal Reserve Bank of St. Louis
Raul Santaeulalia-Llopis; Washington University in St. Louis
   Presented by: Juan Sanchez, Federal Reserve Bank of St. Louis
 
Session 2: Dynamic Models of Old-Age Risks
June 27, 2013 9:45 to 11:45
 
 

1. The joint implications of Medicaid and Social Security for savings and welfare
By Karen Kopecky; Federal Reserve Bank of Atlanta
R. Braun; Federal Reserve Bank of Atlanta
Tatyana Koreshkova; Concordia University
   Presented by: Karen Kopecky, Federal Reserve Bank of Atlanta
 

2. Explaining the Decline of the U.S. Saving Rate: the Joint Role of Health Expenditure and Employer Contributions
By Bela Szemely; Boston University
   Presented by: Bela Szemely, Boston University
 

3. Dynamic Wage and Employment Effects of Elder Parent Care
By Meghan Skira; University of Georgia
   Presented by: Meghan Skira, University of Georgia
 

4. Long-Term Care: Macroeconomic Implications and Policy
By Daniel Barczyk; McGill University
Matthias Kredler; Universidad Carlos III Madrid
   Presented by: Matthias Kredler, Universidad Carlos III Madrid
 
Session 3: Macro Labor
June 27, 2013 9:45 to 11:45
 
 

1. Worker Flows under Mismatch
By William Hawkins; Yeshiva University
   Presented by: William Hawkins, Yeshiva University
 

2. The Joint Dynamics of Capital and Employment at the Plant Level
By Ryan Michaels; University of Rochester
   Presented by: Ryan Michaels, University of Rochester
 

3. How Sticky Wages in Existing Jobs can affect Hiring
By Mark Bils; U. of Rochester
Yongsung Chang; University of Rochester / Yonsei Univ.
Sun-Bin Kim; Yonsei University
   Presented by: Mark Bils, U. of Rochester
 

4. Monetary Policy with Heterogeneous Agents
By Makoto Nakajima; Federal Reserve Bank of Philadelphia
   Presented by: Makoto Nakajima, Federal Reserve Bank of Philadelphia
 
Session 4: Sovereign Debt and Default
June 27, 2013 9:45 to 11:45
 
 

1. In for a Penny, In for a 100 Billion Pounds: Quantifying the Welfare Benefits from Debt Relief
By Daniel Dias; University of Illinois at Urbana-Champaign and CEMAPRE
Christine Richmond; International Monetary Fund
Mark Wright; UCLA
   Presented by: Mark Wright, UCLA
 

2. Efficient Sovereign Default
By Alessandro Dovis; University of Minnesota
   Presented by: Alessandro Dovis, University of Minnesota
 

3. Partial Default
By Cristina Arellano; Federal Reserve Bank of Minneapolis
Xavier Mateos-Planas; Queen Mary University of London
Jose-Victor Rios-Rull; University of Minnesota
   Presented by: Xavier Mateos-Planas, Queen Mary University of London
 

4. Maturity Structure and Debt Renegotiation in International Lending
By Jaromir Nosal; Columbia University
   Presented by: Jaromir Nosal, Columbia University
 
Session 5: Fluctuations in Macro and Finance
June 27, 2013 9:45 to 11:45
 
 

1. Investor Polarization, Trading Volume, and Return Dynamics
By Marcin Kacperczyk; New York University
Jaromir Nosal; Columbia University
Luminita Stevens; University of Maryland
   Presented by: Luminita Stevens, University of Maryland
 

2. Missing aggregate dynamics: on the slow convergence of lumpy adjustment models
By David Berger; Northwestern University
   Presented by: David Berger, Northwestern University
 

3. A Traffic Jam Theory of Recessions
By Jennifer La'O; University of Chicago
   Presented by: Jennifer La'O, University of Chicago
 
Session 6: China
June 27, 2013 9:45 to 11:45
 
 

1. Multiplier Effects of Government Spending: A Tale of China
By Xin Wang; Tsinghua University
Yi Wen; Federal Reserve Bank of St. Louis
   Presented by: Xin Wang, Tsinghua University
 

2. The One-Child Policy and Household Savings in China
By Nicolas Coeurdacier; SciencesPo Paris
Keyu Jin; London School of Economics
   Presented by: Nicolas Coeurdacier, SciencesPo Paris
 

3. A Model of China’s State Capitalism
By xi li; HKUST
Xuewen Liu; HKUST
Yong Wang; Hong Kong University of Science and Tech
   Presented by: Yong Wang, Hong Kong University of Science and Tech
 

4. The Effect of Economic Reform and Industrial Policy in a Panel of Chinese Cities
By Simon Alder; University of Zurich
Lin Shao; Washington University of St. Louis
Fabrizio Zilibotti; University of Zurich
   Presented by: Lin Shao, Washington University of St. Louis
 
Session 7: Housing, Leverage, Demand and the Recession
June 27, 2013 9:45 to 11:45
 
 

1. Demand shocks and open economy puzzles
By Yan Bai; University of Rochester
Jose-Victor Rios-Rull; University of Minnesota
   Presented by: Yan Bai, University of Rochester
 

2. Household Leverage and the Recession
By Virgiliu Midrigan; New York University
Thomas Philippon; NEW YORK UNIVERSITY
   Presented by: Virgiliu Midrigan, New York University
 

3. Did the Housing Bust Cause the Great Recession?
By Greg Kaplan; Princeton University
Kurt Mitman; University of Pennsylvania
Gianluca Violante; New York University
   Presented by: Kurt Mitman, University of Pennsylvania
 

4. Wealth and Volatility
By Jonathan Heathcote; Federal Reserve Bank of Minneapolis
Fabrizio Perri; University of Minnesota
   Presented by: Fabrizio Perri, University of Minnesota
 
Session 8: Culture, Social Learning and Human Development
June 27, 2013 9:45 to 11:45
 
 

1. Substituting Leisure for Health Expenditure: A General Equilibrium-Based Empirical Investigation
By Hui He; Shanghai University of Finance and Economics
Kevin X.D. Huang; Vanderbilt University
Sheng-Ti Hung; Univ. of Hawaii at Manoa
   Presented by: Hui He, Shanghai University of Finance and Economics
 

2. The Human Value Index
By Christian Zimmermann; Federal Reserve Bank of St. Louis
   Presented by: Christian Zimmermann, Federal Reserve Bank of St. Louis
 

3. Cultures, Worldviews, and Intergenerational Altruism
By Kohei Kubota; Yamagata University
Akiko Kamesaka; Aoyama Gakuin University
Masao Ogaki; Keio University
Fumio Ohtake; Osaka University
   Presented by: Masao Ogaki, Keio University
 

4. Supervised Social Learning
By Johannes Horner; Yale University
   Presented by: Johannes Horner, Yale University
 
Session 9: Labor and Capital Market Frictions
June 27, 2013 9:45 to 11:45
 
 

1. Equilibrium Default and Slow Recoveries
By Julio Blanco; New York University
Joseph Mullins; NYU
Gaston Navarro; New York University
   Presented by: Gaston Navarro, New York University
 

2. Startups, Credit, and the Jobless Recovery
By Immo Schott; EUI
   Presented by: Immo Schott, EUI
 

3. Net leverage, risk, and credit spreads
By Berardino Palazzo; Boston University, School of management
   Presented by: Berardino Palazzo, Boston University, School of management
 

4. Bank Leverage Cyles
By Galo Nuno; European Central Bank
Carlos Thomas; Banco de España
   Presented by: Carlos Thomas, Banco de España
 
Session 10: Marriage, Divorce, and Fertility
June 27, 2013 9:45 to 11:45
 
 

1. The Demographic Consequences of Gender Selection Technology
By Qi Li; Peking University
Juan Pantano; Washington University in St. Louis
   Presented by: Juan Pantano, Washington University in St. Louis
 

2. Marriage, Social Insurance and Labor Supply
By Hamish Low; University of Cambridge
Costas Meghir; Yale University
Luigi Pistaferri; Stanford University
Alessandra Voena; University of Chicago
   Presented by: Alessandra Voena, University of Chicago
 

3. Sex Ratios and Long-Term Marriage Trends
By Satoshi Tanaka; University of Queensland
Jose-Victor Rios-Rull; University of Minnesota
Shannon Seitz; Boston College
   Presented by: Satoshi Tanaka, University of Queensland
 

4. Divorce, Remarriage and Old Age Poverty
By Maria Casanova; UCLA
Clement Joubert; University of North Carolina at Chapel Hill
   Presented by: Maria Casanova, UCLA
 
Session 11: Trade and Inequality
June 27, 2013 9:45 to 11:45
 
 

1. Trade Imbalances and Wage Inequality
By Rosario Crinò; CEMFI
Paolo Epifani; Bocconi University
   Presented by: Rosario Crinò, CEMFI
 

2. Offshoring, Low-skilled Immigration and Labor Market Polarization
By Federico Mandelman; Federal Reserve Bank of Atlanta
Andrei Zlate; Board of Governors of the Federal Reserve System
   Presented by: Andrei Zlate, Board of Governors of the Federal Reserve System
 

3. Import Switching and the Impact of a Large Devaluation
By Dan Lu; the University of Rochester
   Presented by: Dan Lu, the University of Rochester
 
Session 12: Financial Regulation
June 27, 2013 9:45 to 11:45
 
 

1. The Regulation of Money Market Funds: Adding Discipline to the Policy Debate
By Cecilia Parlatore Siritto; University of Pennsylvania
   Presented by: Cecilia Parlatore Siritto, University of Pennsylvania
 

2. Optimal Policy for Macro-Financial Stability
By Gianluca Benigno; London School of Economics
Huigang Chen; MarketShare Partners
Christopher Otrok; University of Missouri/St Louis Fed
Alessandro Rebucci; IADB
Eric Young; University of Virginia
   Presented by: Christopher Otrok, University of Missouri/St Louis Fed
 

3. Managing Financial Crises: Lean or Clean?
By Mitsuru Katagiri; Bank of Japan
Ryo Kato; Bank of Japan
Takayuki Tsuruga; Kyoto Unviersity
   Presented by: Takayuki Tsuruga, Kyoto Unviersity
 

4. Interest Rate Policy and Financial Regulation: How to Control Excessive Risk Taking?
By Simona Cociuba; University of Western Ontario
Malik Shukayev; Bank of Canada
Alexander Ueberfeldt; Bank of Canada
   Presented by: Simona Cociuba, University of Western Ontario
 
Session 13: Uncertainty and the Macroeconomy
June 27, 2013 13:00 to 15:00
 
 

1. Financial Distress and Endogenous Uncertainty
By Francois Gourio; Boston University
   Presented by: Francois Gourio, Boston University
 

2. Identifying Long-Run Risks: A Bayesian Mixed-Frequency Approach
By Frank Schorfheide; University of Pennsylvania
Dongho Song; University of Pennsylvania
Amir Yaron; University of Pennsylvania
   Presented by: Dongho Song, University of Pennsylvania
 

3. Beliefs and Fluctuations: A Quantitative Exploration
By George-Marios Angeletos; M.I.T.
Fabrice Collard; University of Bern
Harris Dellas; University of Bern
   Presented by: Fabrice Collard, University of Bern
 

4. Uncertainty Shocks, Asset Supply and Pricing over the Business Cycle
By Francesco Bianchi; Duke University
Cosmin Ilut; Duke University
Martin Schneider; Stanford University
   Presented by: Cosmin Ilut, Duke University
 
Session 14: Topics in International Trade I
June 27, 2013 13:00 to 15:00
 
 

1. Love for Quality, Comparative Advantage, and Trade
By Esteban Jaimovich; University of Surrey
Vincenzo Merella; University of Cagliari
   Presented by: Esteban Jaimovich, University of Surrey
 

2. Trade Patterns, Income Differences and Gains from Trade
By Wyatt Brooks; University of Notre Dame
Pau Pujolas; IDEA - UAB
   Presented by: Wyatt Brooks, University of Notre Dame
 

3. Trade and Interdependence in a Spatially Complex World
By Michal Fabinger; Pennsylvania State University
   Presented by: Michal Fabinger, Pennsylvania State University
 

4. Financial Development and International Trade
By Fernando Leibovici; New York University and York University
   Presented by: Fernando Leibovici, New York University and York University
 
Session 15: Inflation and Currency Risk
June 27, 2013 13:00 to 15:00
 
 

1. Money, markets & intermediaries
By Martin Schneider; Stanford University
   Presented by: Martin Schneider, Stanford University
 

2. Expectations from the Term Structure
By Arunima Sinha; Santa Clara University
   Presented by: Arunima Sinha, Santa Clara University
 

3. What do Nominal Rigidities and Monetary Policy tell us about the Real Yield Curve?
By Alex Hsu; Georgia Tech
Francisco Palomino; University of Michigan
   Presented by: Alex Hsu, Georgia Tech
 

4. Who Bears Long-Run Inflation Risk? Implications for Bond Risk Premia
By YiLi Chien; Federal Reserve Bank of St. Louis
Harold Cole; University of Pennsylvania
Hanno Lustig; Anderson School of Business
   Presented by: YiLi Chien, Federal Reserve Bank of St. Louis
 
Session 16: Housing and Portfolio Choice
June 27, 2013 13:00 to 15:00
 
 

1. Renegotiating Distressed Mortgage Loans: A Structural Estimation
By Hanming Fang; University of Pennsylvania
You Suk Kim; University of Pennsylvania
Wenli Li; Federal Reserve Bank of Philadelphia
   Presented by: Wenli Li, Federal Reserve Bank of Philadelphia
 

2. Mortgage Market Concentration, Foreclosures and House Prices
By Giovanni Favara; Federal Reserve Board
   Presented by: Giovanni Favara, Federal Reserve Board
 

3. House Prices, Household Leverage, and Entrepreneurship
By Stefano Corradin; European Central Bank
   Presented by: Stefano Corradin, European Central Bank
 

4. The home bias of the poor: terms of trade effects and portfolios across the wealth distribution
By Tobias Broer; Stockholm University
   Presented by: Tobias Broer, Stockholm University
 
Session 17: Labor Supply and Insurance
June 27, 2013 13:00 to 15:00
 
 

1. A life-cycle model of unemployment and disability insurance
By Sagiri Kitao; Hunter College
   Presented by: Sagiri Kitao, Hunter College
 

2. Hours and Occupations
By Andres Erosa; Universidad Carlos III de Madrid
luisa fuster; Universidad Carlos III de Madrid
Gueorgui Kambourov; University of Toronto
Richard Rogerson; Princeton University
   Presented by: Gueorgui Kambourov, University of Toronto
 

3. Heterogeneity and Government Revenues: Does Tax Progressivity Matter?
By Nezih Guner; ICREA-MOVE
Martin López Daneri; Central Bank of Chile
Gustavo Ventura; Arizona State University
   Presented by: Nezih Guner, ICREA-MOVE
 

4. Labor Supply, Endogenous Wage Dynamics and Tax policy
By Arpad Abraham; European University Institute
Jay Hong; University of Rochester
Ricardo Santos; Trinity University
   Presented by: Arpad Abraham, European University Institute
 
Session 18: Firm Dynamics and Aggregate Productivity
June 27, 2013 13:00 to 15:00
 
 

1. Industry Dynamics, Investment and Business Cycles
By Julieta Caunedo; Washington University in St. Louis
   Presented by: Julieta Caunedo, Washington University in St. Louis
 

2. Financing Constraints, Firm Dynamics and Innovation
By Andrea Caggese; Pompeu Fabra University
   Presented by: Andrea Caggese, Pompeu Fabra University
 

3. Financial stress and economic dynamics: The transmission of crises
By Kirstin Hubrich; European Central Bank
Robert Tetlow; Federal Reserve Board
   Presented by: Kirstin Hubrich, European Central Bank
 

4. The Financing and Growth of Firms in China and India: Evidence from Capital Markets
By Tatiana Didier; World Bank
Sergio Schmukler; World Bank
   Presented by: Tatiana Didier, World Bank
 
Session 19: Information in Finacial Markets
June 27, 2013 13:00 to 15:00
 
 

1. Intermediating Adverse Selection
By Christian Opp; University of Pennsylvania
Vincent Glode; Wharton School
   Presented by: Christian Opp, University of Pennsylvania
 

2. Trading Dynamics With Adverse Selection and Search
By Jonathan Chiu; Bank of Canada
Thorsten Koeppl; Queen's University
   Presented by: Jonathan Chiu, Bank of Canada
 

3. Markets with Multidimensional Private Information
By Veronica Guerrieri; University of Chicago
Robert Shimer; University of Chicago
   Presented by: Robert Shimer, University of Chicago
 

4. The social value of expertise
By Pablo Kurlat; Stanford University
   Presented by: Pablo Kurlat, Stanford University
 
Session 20: Monetary and Macroprudential Policy
June 27, 2013 13:00 to 15:00
 
 

1. Monetary Policy in Korea through the lense of Taylor Rule in DSGE model
By Tae Bong Kim; Korea Development Institute
   Presented by: Tae Bong Kim, Korea Development Institute
 

2. Monetary Policy, External Finance Dependence, and the Cross-section of Stock Returns: A FAVAR Approach
By Tiago Berriel; EPGE-FGV
Carlos Carvalho; Pontificia Universidade Catolica do Rio de Janeiro
Victor Duarte; MIT
   Presented by: Tiago Berriel, EPGE-FGV
 

3. Expectations and Fluctuations: The Role of Monetary Policy
By Michael Rousakis; European University Institute
   Presented by: Michael Rousakis, European University Institute
 

4. Assessing the Effects of Macroprudential Policy Measures in Korea
By Changho Choi; Bank of Korea
   Presented by: Changho Choi, Bank of Korea
 
Session 21: Topics in IO
June 27, 2013 13:00 to 15:00
 
 

1. Campaign Finance in U.S. House Elections
By Kei Kawai; New York University
   Presented by: Kei Kawai, New York University
 

2. Market Effects of Patent Reform in the US Semiconductor Industry
By Jeff Thurk; University of Notre Dame
   Presented by: Jeff Thurk, University of Notre Dame
 

3. The Role of Entrepreneurial Wealth in Team Formation
By Galina Vereshchagina; Arizona State University
   Presented by: Galina Vereshchagina, Arizona State University
 

4. Customer Driven Establishment Dynamics and Allocative Efficiency
By Allen Tran; UCLA
   Presented by: Allen Tran, UCLA
 
Session 22: Bankruptcy and Repayment
June 27, 2013 13:00 to 15:00
 
 

1. Austerity and Bailouts in Sovereign Debt Restructuring
By David Benjamin; SUNY Buffalo
Mark Wright; UCLA
   Presented by: David Benjamin, SUNY Buffalo
 

2. Debt Dilution and Seniority in a Model of Defaultable Sovereign Debt
By Burcu Eyigungor; Phildalephia Federal Reserve Bank
Satyajit Chatterjee; Federal Reserve Bank of Philadelphia
   Presented by: Burcu Eyigungor, Phildalephia Federal Reserve Bank
 

3. Modeling the Credit Card Revolution: The Role of Debt Collection and Informal Bankruptcy
By Lukasz Drozd; University of Pennsilvania
   Presented by: Lukasz Drozd, Wharton School of the University of Pennsylvania
 

4. Screening as a Unified Theory of Delinquency, Renegotiation and Bankruptcy
By Natalia Kovrijnykh; Arizona State University
Igor Livshits; University of Western Ontario
   Presented by: Igor Livshits, University of Western Ontario
 
Session 23: Economic Growth and Structural Change
June 27, 2013 13:00 to 15:00
 
 

1. Asymmetric Information, Government Credit Subsidy, and Economic Growth
By Yong Wang; City University of Hong Kong
   Presented by: Yong Wang, City University of Hong Kong
 

2. Redefining Industrial Revolution: Song China and England
By Ronald A. Edwards; Tamkang University
   Presented by: Ronald A. Edwards, Tamkang University
 

3. Structural change and the Kaldor facts in a growth model with relative price effects and non-Gorman preferences
By Timo Boppart; IIES, Stockholm University
   Presented by: Timo Boppart, IIES, Stockholm University
 

4. Economic Reforms and the Evolution of China's TFP
By Chadwick Curtis; University of Richmond
   Presented by: Chadwick Curtis, University of Richmond
 
Session 24: Political Economy
June 27, 2013 13:00 to 15:00
 
 

1. Implications of fiscal constraints
By Fernando Martin; Federal Reserve Bank of St. Louis
   Presented by: Fernando Martin, Federal Reserve Bank of St. Louis
 

2. Political Economy in a Changing World
By Daron Acemoglu; Massachusetts Institute of Technology
Georgy Egorov; Northwestern University
Konstantin Sonin; New Economic School
   Presented by: Georgy Egorov, Northwestern University
 

3. Efficiency Gains from Wealth Taxation
By Daphne Chen; Florida State University
Fatih Guvenen; University of Minnesota
Gueorgui Kambourov; University of Toronto
Burhanettin Kuruscu; University of Toronto
   Presented by: Burhanettin Kuruscu, University of Toronto
 

4. The Political Economy of Entry Barriers
By Toshihiko Mukoyama; University of Virginia
Latchezar Popov; The University of Virginia
   Presented by: Latchezar Popov, The University of Virginia
 
Session 25: Fiscal Policy, Public Debt and Risk Sharing
June 27, 2013 15:30 to 17:30
 
 

1. Expiring Budgets and Wasteful Year-End Spending in Federal Procurement
By Neale Mahoney; University of Chicago
   Presented by: Neale Mahoney, University of Chicago
 

2. How Well Did Social Security Mitigate the Effects of the Great Recession?
By William Peterman; Federal Reserve Board of Governors
Kamila Sommer; Federal Reserve Board
   Presented by: William Peterman, Federal Reserve Board of Governors
 

3. Public Deficit Bias and Immigration
By Michael Ben-Gad; City University London
   Presented by: Michael Ben-Gad, City University London
 

4. Tax Competition and Migration
By Laurent Simula; Uppsala University
   Presented by: Laurent Simula, Uppsala University
 
Session 26: Networks and Supply Chains
June 27, 2013 15:30 to 17:30
 
 

1. Losing to Win: Reputation Management of Online Sellers
By Ying Fan; University of Michigan
Jiandong Ju; Tsinghua University
Mo Xiao; University of Arizona
   Presented by: Mo Xiao, University of Arizona
 

2. Financial Constraints and Franchising Decisions
By Ying Fan; University of Michigan
Kai-Uwe Kuhn; University of Michigan
Francine Lafontaine; University of Michigan
   Presented by: Ying Fan, University of Michigan
 

3. Institutions and the Sectoral Organization of Production
By Ana Fernandes; University of Bern
   Presented by: Ana Fernandes, Berner Fachhochschule; University of Fribourg
 

4. The Welfare Effects of Vertical Integration in Multichannel Television Markets
By Gregory Crawford; University of Warwick
Robin Lee; Stern School of Business, New York Unive
Michael Whinston
Ali Yurukoglu; Stanford University
   Presented by: Robin Lee, Stern School of Business, New York Unive
 
Session 27: Credit Booms. Early Warnings?
June 27, 2013 15:30 to 17:30
 
 

1. When Credit Bites Back
By Oscar Jorda; Federal Reserve Bank of San Francisco
Moritz Schularick; Free University of Berlin
Alan Taylor; University of Virginia
   Presented by: Oscar Jorda, Federal Reserve Bank of San Francisco
 

2. Aggregate Uncertainty and the Supply of Credit
By Fabian Valencia; International Monetary Fund
Jeanne Verrier; Johns Hopkins University
   Presented by: Fabian Valencia, International Monetary Fund
 

3. Anatomy of credit booms and their demise
By Enrique Mendoza; University of Pennsylvania
Marco Terrones; International Monetary Fund
   Presented by: Marco Terrones, International Monetary Fund
 

4. Political Booms, Financial Crises
By Helios Herrera; Columbia University
Guillermo Ordonez; University of Pennsylvania
Christoph Trebesch; University of Munich
   Presented by: Helios Herrera, Columbia University
 
Session 28: Imports, Productivity and Trade Reform
June 27, 2013 15:30 to 17:30
 
 

1. Imported Inputs, Quality Complementarity, and Skill Demand
By Diego Saravia; Central Bank of Chile,
Nico Voigtlaender; UCLA
   Presented by: Nico Voigtlaender, UCLA
 

2. International Trade with Inattentive Importers
By Kunal Dasgupta; University of Toronto
Jordi Mondria; University of Toronto
   Presented by: Jordi Mondria, University of Toronto
 

3. Using the New Products Margin to Predict the Sectoral Impact of Trade Reform
By Timothy Kehoe; University of Minnesota
Jack Rossbach; University of Minnesota
Kim Ruhl; New York University Stern School of Business
   Presented by: Timothy Kehoe, University of Minnesota
 

4. Firms, Destinations, and Aggregate Fluctuations
By Julian di Giovanni; International Monetary Fund
Andrei Levchenko; University of Michigan
Isabelle Mejean; Ecole Polytechnique
   Presented by: Isabelle Mejean, Ecole Polytechnique
 
Session 29: Firm Dynamics and Financial Frictions
June 27, 2013 15:30 to 17:30
 
 

1. Intangibles and Endogenous Firm Volatility over the Business Cycle
By Pablo D'Erasmo; University of Maryland
Hernan Moscoso Boedo; University of Virginia
   Presented by: Hernan Moscoso Boedo, University of Virginia
 

2. Dynamics of Firms and Trade in General Equilibrium
By Robert Dekle; University of Southern California
Hyeok Jeong; KDI School
Nobuhiro Kiyotaki; Princeton University
   Presented by: Hyeok Jeong, KDI School
 

3. Financial Frictions, Investment and Tobin’s q
By Dan Cao; Georgetown University
Guido Lorenzoni; Northwestern University
Karl Walentin; Sveriges Riksbank (Bank of Sweden)
   Presented by: Dan Cao, Georgetown University
 

4. Diversification, Cost Structure, and the Stock Returns of Multinational Corporations
By Jose Fillat; Federal Reserve Bank of Boston
Stefania Garetto; Boston University
Lindsay Oldenski; Georgetown University
   Presented by: Stefania Garetto, Boston University
 
Session 30: Development and Growth
June 27, 2013 15:30 to 17:30
 
 

1. Long-Run Misallocation in the Labor Market: Evidence from Germany's Post-War Population Transfers
By Michael Peters; Yale University
   Presented by: Michael Peters, Yale University
 

2. Apprenticeship and Technological Progress in the Malthusian World
By David de la Croix; Univ cath Louvain
Matthias Doepke; Northwestern University
Joel Mokyr; Northwestern University
   Presented by: Matthias Doepke, Northwestern University
 

3. Constraints to the Growth of Firms: All in the Family?
By David Atkin; Yale University
Francisco Buera; University of California at Los Angeles
Amit Khandelwal; Columbia Business School
Yongseok Shin; Washington University in St. Louis
   Presented by: Francisco Buera, University of California at Los Angeles
 

4. Financial Frictions and Industrial Policies
By Oleg Itskhoki; Princeton University
Benjamin Moll; Princeton University
   Presented by: Benjamin Moll, Princeton University
 
Session 31: Advances in NDPF
June 27, 2013 15:30 to 17:30
 
 

1. Social Security is NOT a Substitute for Annuities
By Frank Caliendo; Utah State University
Lei (Nick) Guo; Jon M. Huntsman School of Business, Utah State University
Roozbeh Hosseini; Arizona State University
   Presented by: Roozbeh Hosseini, Arizona State University
 

2. Machines, Buildings, and Optimal Dynamic Taxes
By Ctirad Slavik; Goethe University in Frankfurt
Hakki Yazici; Sabanci University
   Presented by: Ctirad Slavik, Goethe University in Frankfurt
 

3. Strategic default
By Antonio Mele; University of Surrey
   Presented by: Antonio Mele, University of Surrey
 

4. A Theory of Economic and Political Cycles
By Laurence Ales; Carnegie Mellon University
Pricila Maziero; University of Pennsylvania
Pierre Yared; Columbia University
   Presented by: Pricila Maziero, University of Pennsylvania
 
Session 32: Open Economy Macro
June 27, 2013 15:30 to 17:30
 
 

1. Third-Country Effects on the Exchange Rate
By Kimberly Berg; University of Notre Dame
Nelson Mark; University of Notre Dame
   Presented by: Kimberly Berg, University of Notre Dame
 

2. The Risk Premium and Long-Run Global Imbalances
By YiLi Chien; Federal Reserve Bank of St. Louis
Kanda Naknoi; University of Connecticut
   Presented by: Kanda Naknoi, University of Connecticut
 

3. The Great Recession: A Self-Fulfilling Global Panic
By Philippe Bacchetta; University of Lausanne
Eric van Wincoop; University of Virginia
   Presented by: Philippe Bacchetta, University of Lausanne
 

4. Exchange rates as an instrument of monetary policy
By Ilian Mihov; INSEAD
Ana Santacreu; INSEAD
   Presented by: Ana Maria Santacreu, INSEAD
 
Session 33: Technology Adoption, Innovation and Diffusion
June 27, 2013 15:30 to 17:30
 
 

1. Cumulative Innovation, Growth and Welfare-Improving Patent Policy
By Edwin Lai; Hong Kong University of Science and Tech
   Presented by: Edwin Lai, Hong Kong University of Science and Tech
 

2. Shared Rights and Technological Progress
By Matthew Mitchell; University of Toronto
Yuzhe Zhang; Texas A&M University
   Presented by: Yuzhe Zhang, Texas A&M University
 

3. Directed Technological Change: A Quantitative Analysis
By Robert Tamura; Clemson University
Michal Jerzmanowski; Clemson University
   Presented by: Robert Tamura, Clemson University
 

4. Spin-offs: Theory and Evidence from the Early U.S. Automobile Industry
By Luis Cabral; NYU Stern
Zhu Wang; Federal Reserve Bank of Richmond
   Presented by: Zhu Wang, Federal Reserve Bank of Richmond
 
Session 34: Housing and Inventory dynamics
June 27, 2013 15:30 to 17:30
 
 

1. House Prices and Monetary Policy: Focus on The Elasticity of Intra-Temporal Substitution between Housing and Consumption
By In Ho Song; Korea Development Institute
   Presented by: In Ho Song, Korea Development Institute
 

2. Mortgage Guarantees and House Price Inflation: A Quantitative Analysis
By Omer Acikgoz; Yeshiva University
James Kahn; Yeshiva University
   Presented by: James Kahn, Yeshiva University
 

3. House Price Dynamics with Household Debt: the Korean Case
By Hyun Jeong Kim; the Bank of Korea
   Presented by: Hyun Jeong Kim, the Bank of Korea
 

4. Can news shocks account for the business-cycle dynamics of inventories?
By Nicolas Crouzet; Columbia University
Hyunseung Oh; Columbia University
   Presented by: Hyunseung Oh, Columbia University
 
Session 35: Earnings and Labor Supply Dynamics
June 27, 2013 15:30 to 17:30
 
 

1. Post schooling human capital investments and the life cycle variance of earnings
By Nicolas Pistolesi; Toulouse School of Economics (GREMAQ)
Thierry Magnac; Toulouse School of Economics
Sebastien Roux; CREST
   Presented by: Nicolas Pistolesi, Toulouse School of Economics (GREMAQ)
 

2. Better Workers Move to Better Firms: A Simple Test to Identify Sorting
By Cristian Bartolucci; Collegio Carlo Alberto
Francesco Devicienti; Università di Torino
   Presented by: Cristian Bartolucci, Collegio Carlo Alberto
 

3. Career Progression, Economic Downturns, and Skills
By Jerome Adda; European University Institute
Christian Dustmann; University College London
Costas Meghir; Yale University
Jean-Marc Robin; Sciences-Po
   Presented by: Christian Dustmann, University College London
 

4. Employer Learning, Job Mobility, and Wage Dynamics
By Seik Kim; University of Washington
Emiko Usui; Nagoya University
   Presented by: Emiko Usui, Nagoya University
 
Session 36: Labor Markets and Unemployment
June 27, 2013 15:30 to 17:30
 
 

1. Endogenous Dual Labor Markets
By Enchuan Shao; Bank of Canada
Pedro Silos; Federal Reserve Bank of Atlanta
   Presented by: Pedro Silos, Federal Reserve Bank of Atlanta
 

2. The Cyclical Behavior of Equilibrium Unemployment and Vacancies Across OECD Countries
By Pedro Amaral; Federal Reserve Bank of Cleveland
Murat Tasci; Federal Reserve Bank of Cleveland
   Presented by: Pedro Amaral, Federal Reserve Bank of Cleveland
 

3. On Households and Unemployment
By Sekyu Choi; Universitat Autonoma de Barcelona
   Presented by: Sekyu Choi, Universitat Autonoma de Barcelona
 

4. Optimal Unemployment Insurance with Monitoring
By Ofer Setty; Tel Aviv University
   Presented by: Ofer Setty, Tel Aviv University
 
Session 37: Inflation dynamics
June 28, 2013 9:45 to 11:45
 
 

1. Inflation Announcements and Social Dynamics
By Kinda Hachem; University of Chicago
Jing Cynthia Wu; University of Chicago
   Presented by: Kinda Hachem, University of Chicago
 

2. Indeterminacy and Learning: An Analysis of Monetary Policy in the Great Inflation
By Thomas Lubik; Federal Reserve Bank of Richmond
Christian Matthes; Universitat Pompeu Fabra
   Presented by: Thomas Lubik, Federal Reserve Bank of Richmond
 

3. What Explains Japan's Persistent Deflation?
By Carlos Carvalho; Pontificia Universidade Catolica do Rio de Janeiro
Andrea Ferrero; Federal Reserve Bank of New York
   Presented by: Carlos Carvalho, Pontificia Universidade Catolica do Rio de Janeiro
 

4. Inflation Dynamics During the Financial Crisis
By Simon Gilchrist; Boston University
Raphael Schoenle; Brandeis University
jae sim
Egon Zakrajsek; Federal Reserve Board
   Presented by: jae sim, Federal Reeserve Board
 
Session 38: Topics in International Trade II
June 28, 2013 9:45 to 11:45
 
 

1. Inter-Regional Trade, Inter-Sectoral Trade, and Productivity
By Lorenzo Caliendo; Yale University
Fernando Parro; Federal Reserve Board
Esteban Rossi-Hansberg; Princeton University
Pierre-Daniel Sarte; Federal Reserve Bank of Richmond
   Presented by: Lorenzo Caliendo, Yale University
 

2. Trade Reforms, Foreign Competition, and Labor Market Adjustments in the U.S.
By Illenin Kondo; Federal Reserve Board
   Presented by: Illenin Kondo, Federal Reserve Board
 

3. The Intensive Margin of Imports and Firm Productivity
By Joaquin Blaum; Brown University
Claire Lelarge; CREST
Michael Peters; Yale University
   Presented by: Joaquin Blaum, Brown University
 

4. Measuring the Unequal Gains From Trade
By Pablo Fajgelbaum; UCLA
Amit Khandelwal; Columbia Business School
   Presented by: Pablo Fajgelbaum, UCLA
 
Session 39: Macroeconomic Externalities with Financial Frictions
June 28, 2013 9:45 to 11:45
 
 

1. Macroprudential Regulation Versus Mopping Up After the Crash
By Olivier Jeanne; John Hopkins University
Anton Korinek; Johns Hopkins University and IMF
   Presented by: Anton Korinek, Johns Hopkins University and IMF
 

2. Fiscal Unions
By Emmanuel Farhi; Harvard University
   Presented by: Emmanuel Farhi, Harvard University
 

3. Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area
By Dominic Quint; Free University Berlin
Pau Rabanal; IMF
   Presented by: Dominic Quint, Free University Berlin
 

4. Liquidity Trap and Excessive Leverage
By Anton Korinek; Johns Hopkins University and IMF
Alp Simsek; Massachusetts Institute of Technology
   Presented by: Alp Simsek, Massachusetts Institute of Technology
 
Session 40: Structural Transformation, Development, and Urbanization
June 28, 2013 9:45 to 11:45
 
 

1. Urbanization with and without Structural Transformation
By Remi Jedwab; George Washington University and LSE
   Presented by: Remi Jedwab, George Washington University and LSE
 

2. Sectoral Technology and Structural Transformation
By Akos Valentinyi; Cardiff Business School
   Presented by: Akos Valentinyi, Cardiff Business School
 

3. Financial Frictions and Agricultural Productivity Differences
By Junmin Liao; Washington University in St. Louis
Wei Wang; Washington University in St. Louis
   Presented by: Wei Wang, Washington University in St. Louis
 

4. Stages of Diversification and Industry Productivity Differences
By Roberto Samaniego; George Washington University
   Presented by: Roberto Samaniego, George Washington University
 
Session 41: Migration and Labor Markets
June 28, 2013 9:45 to 11:45
 
 

1. Dual Income Couples and Interstate Migration
By Bulent Guler; Indiana University - Bloomington
   Presented by: Bulent Guler, Indiana University - Bloomington
 

2. Immigration Restrictions and Skill Premia
By John Kennan; University of Wisconsin Madison
   Presented by: John Kennan, University of Wisconsin Madison
 

3. The Native-Immigrant Wage Gap in the United States
By Rebecca Lessem; Carnegie Mellon University
Carl Sanders; Washington University in St. Louis
   Presented by: Carl Sanders, Washington University in St. Louis
 

4. Regional Mismatch and Labor Reallocation in an Equilibrium Model of Migration
By Plamen Nenov; Norwegian Business School (BI)
   Presented by: Plamen Nenov, Norwegian Business School (BI)
 
Session 42: Unemployment in the Great Recession
June 28, 2013 9:45 to 11:45
 
 

1. Sectoral Shocks, the Beveridge Curve and Monetary Policy
By Dmitriy Sergeyev; Columbia University
Neil Mehrotra; Columbia University
   Presented by: Dmitriy Sergeyev, Columbia University
 

2. Job Search Behavior over the Business Cycle
By Toshihiko Mukoyama; University of Virginia
Christina Patterson; Federal Reserve Bank of New York
Aysegul Sahin; Federal Reserve Bank of New York
   Presented by: Toshihiko Mukoyama, University of Virginia
 

3. Unemployment Benefits and Unemployment in the Great Recession: The Role of Macro Effects
By Marcus Hagedorn; Institute of Advanced Studies
Fatih Karahan; Federal Reserve Bank of New York
Iourii Manovskii; University of Pennsylvania
Kurt Mitman; University of Pennsylvania
   Presented by: Fatih Karahan, Federal Reserve Bank of New York
 

4. Hysteresis in Unemployment and Jobless Recoveries
By Dmitry Plotnikov; University Of California, Los Angeles
   Presented by: Dmitry Plotnikov, University Of California, Los Angeles
 
Session 43: Perspectives on the Arab Spring
June 28, 2013 9:45 to 11:45
 
 

1. Medieval Universities, Legal Institutions, and the Commercial Revolution
By Davide Cantoni; Ludwig-Maximilians-Universität München
Noam Yuchtman; UC Berkeley
   Presented by: Noam Yuchtman, UC Berkeley
 

2. "The People Want the Fall of the Regime": Schooling, Political Protest, and the Economy
By Filipe Campante; Harvard University
   Presented by: Filipe Campante, Harvard University
 

3. Corruption Networks and the Balance of Power in Egypt's Arab Spring
By Daron Acemoglu; Massachusetts Institute of Technology
Tarek Hassan; The University of Chicago
Ahmed Tahoun; London Busines School
   Presented by: Tarek Hassan, The University of Chicago
 
Session 44: Exchange Rates and Prices
June 28, 2013 9:45 to 11:45
 
 

1. Importers, Exporters, and Exchange Rate Disconnect
By Oleg Itskhoki; Princeton University
   Presented by: Oleg Itskhoki, Princeton University
 

2. Product Introductions, Currency Unions, and the Real Exchange Rate
By Alberto Cavallo; MIT
Brent Neiman; University of Chicago
Roberto Rigobon; Massachusetts Institute of Technology
   Presented by: Alberto Cavallo, MIT
 

3. IKEA: Product, Pricing, and Pass-Through
By Marianne Baxter; Boston University
Anthony Landry; University of Pennsylvania
   Presented by: Anthony Landry, University of Pennsylvania
 

4. Pass-through Across Products and Time
By David Berger; Northwestern University
Joseph Vavra; University of Chicago
   Presented by: Joseph Vavra, University of Chicago
 
Session 45: Robustness and Heterogeneous Beliefs
June 28, 2013 9:45 to 11:45
 
 

1. The Role of Bounded Rationality in Macro-Finance Affine Term-Structure Models
By Jinsook Kim; Seoul National University
Eunmi Ko; Seoul National University
Tack Yun; Seoul National University
   Presented by: Tack Yun, Seoul National University
 

2. Robust preference expansions
By Jaroslav Borovicka; New York University
Lars Hansen; University of Chicago
   Presented by: Jaroslav Borovicka, New York University
 

3. Woodford's Approach to Robust Policy Analysis in a Linear-Quadratic Framework
By Hyosung Kwon; Boston University
Jianjun Miao; Boston University
   Presented by: Hyosung Kwon, Boston University
 

4. Policy design with private sector skepticism in the textbook New Keynesian model
By Robert King; Boston University
Yang Lu; Hong Kong University of Science and Technology
Ernesto Pasten; Banco Central de Chile and Toulouse School of Economics
   Presented by: Yang Lu, Hong Kong University of Science and Technology
 
Session 46: Pricing Frictions
June 28, 2013 9:45 to 11:45
 
 

1. Learning to Price
By Isaac Baley; New York University
Julio Blanco; New York University
   Presented by: Isaac Baley, New York University
 

2. Time- and State-Dependent Pricing: A Unified Framework
By Marco Bonomo; Fundação Getulio Vargas
Carlos Carvalho; Pontificia Universidade Catolica do Rio de Janeiro
Rene Garcia; EDHEC Business School
   Presented by: Marco Bonomo, Fundação Getulio Vargas
 

3. Estimating Quarterly Different Price and Wage Rigidity and Its Implication for Monetary Policy
By Sung Ho Park; Bank of Korea
   Presented by: Sung Ho Park, Bank of Korea
 

4. Menu Costs, Trade Flows, and Exchange Rate Volatility
By Logan Lewis; Federal Reserve Board
   Presented by: Logan Lewis, Federal Reserve Board
 
Session 47: Public Finance in Aging Societies
June 28, 2013 9:45 to 11:45
 
 

1. The Role of Social Insurance Programs in Accounting for Cross-Country Differences in Retirement Behavior
By Tobias Laun; Uppsala university
Johanna Wallenius; Stockholm School of Economics
   Presented by: Johanna Wallenius, Stockholm School of Economics
 

2. On Financing Retirement with an Aging Population
By Ellen McGrattan; Federal Reserve Bank of Minneapolis
Edward Prescott; Federal Reserve Bank of Minneapolis
   Presented by: Ellen McGrattan, Federal Reserve Bank of Minneapolis
 

3. Achieving Fiscal Balance in Japan
By Selahattin Imrohoroglu; University of Southern California
Sagiri Kitao; Hunter College
Tomoaki Yamada; Meiji University
   Presented by: Selahattin Imrohoroglu, University of Southern California
 

4. Health Heterogeneity and the Preferences for Consumption Growth
By Jay Hong; University of Rochester
Josep Pijoan-Mas; CEMFI
Jose-Victor Rios-Rull; University of Minnesota
   Presented by: Josep Pijoan-Mas, CEMFI
 
Session 48: Corporate Finance
June 28, 2013 9:45 to 11:45
 
 

1. Financing Growth without Banks: Korean Housing Repo Contract
By Se-Jik Kim; Seoul National University
Hyun Shin; Princeton University
   Presented by: Se-Jik Kim, Seoul National University
 

2. Is Bank Debt Special for the Transmission of Monetary Policy? Evidence from the Stock Market
By Filippo Ippolito; Universitat Pompeu Fabra
Ali Ozdagli; Federal Reserve Bank of Boston
Ander Perez; Universitat Pompeu Fabra
   Presented by: Ali Ozdagli, Federal Reserve Bank of Boston
 

3. Contingent Convertible Bonds and Capital Structure Decisions
By Boris Albul; UC Berkeley
Dwight Jaffee; UC Berkeley
Alexei Tchistyi; Haas School of Business, UC Berkeley
   Presented by: Alexei Tchistyi, Haas School of Business, UC Berkeley
 

4. Dynamic Corporate Liquidiy
By Lukas Schmid; Duke University
Roberto Steri; Duke University
   Presented by: Roberto Steri, Duke University
 
Session 49: Tax Policy in a Diverse World
June 28, 2013 13:00 to 15:00
 
 

1. Taxation and the Allocation of Talent
By Ben Lockwood; Harvard University
Charles Nathanson; Harvard University
Eric Weyl; University of Chicago
   Presented by: Eric Weyl, University of Chicago
 

2. Financial Transaction Taxes and Fire Sales
By Felix Bierbrauer; University of Cologne
   Presented by: Felix Bierbrauer, University of Cologne
 

3. Taxing Top Earners: A Human Capital Perspective
By Alejandro Badel; St. Louis Fed
Mark Huggett; Georgetown University
   Presented by: Alejandro Badel, St. Louis Fed
 

4. Capital Taxation with Multidimensional Heterogeneity
By Casey Rothschild; Wellesley College
Florian Scheuer; Stanford University
   Presented by: Florian Scheuer, Stanford University
 
Session 50: Financial Intermediation and the Macroeconomy
June 28, 2013 13:00 to 15:00
 
 

1. Banking, Liquidity and Bank Runs in an Infinite Horizon Economy
By Nobuhiro Kiyotaki; Princeton University
   Presented by: Nobuhiro Kiyotaki, Princeton University
 

2. A Macroeconomic Framework for Quantifying Systemic Risk
By Zhiguo He; University of Chicago, Booth School of B
   Presented by: Zhiguo He, University of Chicago, Booth School of B
 

3. The I-Theory of Money
By Markus Brunnermeier; Princeton University
Yuliy Sannikov; Princeton University
   Presented by: Yuliy Sannikov, Princeton University
 

4. Debt: Deleveraging or Default
By Guillermo Ordonez; University of Pennsylvania
David Perez-Reyna; University of Minnesota
Motohiro Yogo; Federal Reserve Bank of Minneapolis
   Presented by: Motohiro Yogo, Federal Reserve Bank of Minneapolis
 
Session 51: Exchange Rates and Capital Controls
June 28, 2013 13:00 to 15:00
 
 

1. Capital Controls or Real Exchange Rate Policy? A Pecuniary Externality Perspective
By Christopher Otrok; University of Missouri/St Louis Fed
Alessandro Rebucci; Inter-American Development Bank
Eric Young; University of Virginia
   Presented by: Eric Young, University of Virginia
 

2. FX Funding Risks and Exchange Rate Volatility - Korea's Case
By Kyoungsoo Yoon; The Bank of Korea
   Presented by: Kyoungsoo Yoon, The Bank of Korea
 

3. Capital Inflows and Exchange Rate Volatility in Korea
By Kyuil Chung; The Bank of Korea
   Presented by: Kyuil Chung, The Bank of Korea
 

4. Capital Controls: a Normative Analysis
By Bianca De Paoli; Federal Reserve Bank of New York
Anna Lipinska; Federal Reserve Board
   Presented by: Anna Lipinska, Federal Reserve Board
 
Session 52: Search and Information Frictions
June 28, 2013 13:00 to 15:00
 
 

1. Consumers' Imperfect Information and Price Rigidities
By Jean-Paul L'Huillier; Einaudi Institute for Economics and Fina
   Presented by: Jean-Paul L'Huillier, Einaudi Institute for Economics and Fina
 

2. Informational Fragility of Dynamic Rational Expectations Equilibria
By Giacomo Rondina; University of California, San Diego
   Presented by: Giacomo Rondina, University of California, San Diego
 

3. Customer Relationship and Sales
By Shouyong Shi; University of Toronto
   Presented by: Shouyong Shi, University of Toronto
 

4. The Social Value of Private Information
By Thomas Mertens; New York University
   Presented by: Thomas Mertens, New York University
 
Session 53: Wage Inequality I
June 28, 2013 13:00 to 15:00
 
 

1. Occupational Complexity, Experience, and the Gender Wage Gap
By Elisa Keller; University of Iowa
   Presented by: Elisa Keller, University of Iowa
 

2. Cyclical Employment and Learning Ability
By Jongsuk Han; University of Rochester
   Presented by: Jongsuk Han, University of Rochester
 

3. Math Matters: Student Ability, College Majors, and Wage Inequality
By Andrew Rendall; University of Zurich
Michelle Rendall; University of Zurich
   Presented by: Andrew Rendall, University of Zurich
 

4. Job Polarization : Market Responses to Interindustry Wage Differentials
By Myungkyu Shim; UCSD
Hee-Seung Yang; Monash University
   Presented by: Myungkyu Shim, UCSD
 
Session 54: The Big Recession: Aggregate Demand or Frictions to Reallocation?
June 28, 2013 13:00 to 15:00
 
 

1. Long-term Unemployment: Attached and Mismatched?
By David Wiczer; University of Minnesota
   Presented by: David Wiczer, University of Minnesota
 

2. Sectoral Shocks, Reallocation and Unemployment in a Model of Competitive Labor Markets
By Maximiliano Dvorkin; Yale University
   Presented by: Maximiliano Dvorkin, Yale University
 

3. Job Destruction without Job Creation: Structural Trasformation in the Overborrowed America
By Alessandro Galesi; Centro de Estudios Monetarios y Financieros
Claudio Michelacci; CEMFI
   Presented by: Claudio Michelacci, CEMFI
 

4. Job Uncertainty and Deep Recessions
By Morten Ravn; University College London
Vincent Sterk; University College London
   Presented by: Vincent Sterk, University College London
 
Session 55: Firm Dynamics, Growth, Trade, and Productivity
June 28, 2013 13:00 to 15:00
 
 

1. Eventually, Noise and Imitation Implies Balanced Growth
By Erzo Luttmer; University of Minnesota
   Presented by: Erzo Luttmer, University of Minnesota
 

2. Dynamic Selection and the New Gains from Trade with Heterogeneous Firms
By Thomas Sampson; LSE
   Presented by: Thomas Sampson, LSE
 

3. The Informativeness of Stock Prices, Misallocation and Aggregate Productivity
By Joel David; USC
Hugo A. Hopenhayn; UCLA
Vaidyanathan Venkateswaran; Pennsylvania State University
   Presented by: Joel David, USC
 

4. Equilibrium Technology Diffusion, Trade, and Growth
By Jesse Perla; NYU
Christopher Tonetti; New York University
Mike Waugh; New York University
   Presented by: Christopher Tonetti, New York University
 
Session 56: Demand Effects and Labour Market Interactions
June 28, 2013 13:00 to 15:00
 
 

1. Understanding Non-Inflationary Demand Driven Business Cycles
By Paul Beaudry; University of British Columbia
Franck Portier; Toulouse School of Economics
   Presented by: Franck Portier, Toulouse School of Economics
 

2. A Theory of Aggregate Supply and Aggregate Demand as Functions of Market Tightness with Prices as Parameters
By Pascal Michaillat; London School of Economics
Emmanuel Saez; UC Berkeley
   Presented by: Pascal Michaillat, London School of Economics
 

3. Precautionary Saving and Aggregate Demand
By Edouard Challe; Ecole Polytechnique
Julien Matheron; Banque de France
Xavier Ragot; Paris School of Economics
Juan Rubio-Ramirez; Duke University
   Presented by: Edouard Challe, Ecole Polytechnique
 

4. Unemployment (Fears), Precautionary Savings, and Aggregate Demand
By Pontus Rendahl; University of Cambridge
   Presented by: Pontus Rendahl, University of Cambridge
 
Session 57: Asset Pricing
June 28, 2013 13:00 to 15:00
 
 

1. "Shooting" the CAPM
By Hang Bai; The Ohio State University
Howard Kung; University of British Columbia
Lu Zhang; The Ohio State University
   Presented by: Howard Kung, University of British Columbia
 

2. Asset Prices with Heterogeneity in Preferences and Beliefs
By Harjoat Bhamra; UBC
Raman Uppal; EDHEC
   Presented by: Harjoat Bhamra, UBC
 

3. Financial Expertise and Asset Prices
By Andrea Eisfeldt; UCLA Anderson School of Management
Hanno Lustig; Anderson School of Business
Lei Zhang; ucla
   Presented by: Andrea Eisfeldt, UCLA Anderson School of Management
 

4. Asset pricing in the frequency domain: theory and empirics
By Ian Dew-Becker; Federal Reserve Bank of San Francisco
Stefano Giglio; University of Chicago
   Presented by: Ian Dew-Becker, Federal Reserve Bank of San Francisco
 
Session 58: Labor Market Shocks
June 28, 2013 13:00 to 15:00
 
 

1. Time and space aggregation of the labor market flows
By Katarina Borovickova; New York University
   Presented by: Katarina Borovickova, New York University
 

2. The Effect of Moral Hazard on Wage Inequality with On-the-Job Search and Employer Competition
By Arpad Abraham; European University Institute
Fernando Alvarez-Parra; CAF Development Bank of Latin America
Susanne Forstner; Institute for International Economic Studies
   Presented by: Susanne Forstner, Institute for International Economic Studies
 

3. On The Welfare Costs Of Unemployment Fluctuations
By Michael Reiter; Institute for Advanced Studies
   Presented by: Michael Reiter, Institute for Advanced Studies
 

4. What Do Data on Millions of U.S. Workers Say About Labor Income Risk?
By Fatih Guvenen; University of Minnesota
Fatih Karahan; Federal Reserve Bank of New York
Serdar Ozkan; Federal Reserve Board
Jae Song; Social Security Administration
   Presented by: Serdar Ozkan, Federal Reserve Board
 
Session 59: International Macro
June 28, 2013 13:00 to 15:00
 
 

1. Real Exchange Rate Dynamics in Sticky-Price Models with Capital
By Carlos Carvalho; Pontificia Universidade Catolica do Rio de Janeiro
Fernanda Nechio; Federal Reserve Bank of San Francisco
   Presented by: Fernanda Nechio, Federal Reserve Bank of San Francisco
 

2. Distribution capital and the short- and long-run import demand elasticity
By Mario Crucini; Vanderbilt University
Scott Davis; Federal Reserve Bank of Dallas
   Presented by: Scott Davis, Federal Reserve Bank of Dallas
 

3. Trade, Unemployment, and Monetary Policy
By Matteo Cacciatore; HEC Montreal
   Presented by: Matteo Cacciatore, HEC Montreal
 

4. Global Gains from Reduction of Trade Costs
By Edwin Lai; Hong Kong University of Science and Tech
Han QI; Hong Kong University of Science and Technology
Haichao Fan; Hong Kong University of Science and Technology
   Presented by: Han QI, Hong Kong University of Science and Technology
 
Session 60: Labor Supply and Aggregate Fluctuations
June 28, 2013 13:00 to 15:00
 
 

1. Hours Worked With and Without Capital Income
By Jeffrey Campbell; Federal Reserve Bank of Chicago
Christine Ostrowski; Federal Reserve Bank of Chicago
   Presented by: Christine Ostrowski, Federal Reserve Bank of Chicago
 

2. Coordinated labor Supply within the Firm: Evidence and Implications
By Michele Battisti; Ifo Institute at University of Munich
Ryan Michaels; University of Rochester
   Presented by: Michele Battisti, Ifo Institute at University of Munich
 

3. Bargaining with Existing Workers, Over-hiring of Firms, and Labor Market Fluctuations
By Jiwoon Kim; University of Minnesota
   Presented by: Jiwoon Kim, University of Minnesota
 

4. Sorting by Skill over the Course of Job Search
By Marianna Kudlyak; Federal Reserve Bank of Richmond
Damba Lkhagvasuren; Concordia University
Roman Sysuyev; University of Rochester
   Presented by: Marianna Kudlyak, Federal Reserve Bank of Richmond
 
Session 61: Expectations
June 28, 2013 15:30 to 17:30
 
 

1. Wage Dynamics with Private Learning-by-doing and On-the-job Search
By Seung-Gyu Sim; University of Tokyo
   Presented by: Seung-Gyu Sim, University of Tokyo
 

2. First- and Second-order Subjective Expectations in Strategic Decision-Making: Experimental Evidence
By Claudia Neri; University of St.Gallen
Charles Manski; Northwestern University
   Presented by: Claudia Neri, University of St.Gallen
 

3. Eliciting Maternal Beliefs about the Technology of Skill Formation
By Flavio Cunha; University of Pennsylvania
   Presented by: Flavio Cunha, University of Pennsylvania
 
Session 62: Empirical Industrial Organization
June 28, 2013 15:30 to 17:30
 
 

1. Signaling in Online Credit Markets
By Kei Kawai; New York University
Ken ONISHI; Northwestern University
Kosuke Uetake; Northwestern University
   Presented by: Ken ONISHI, Northwestern University
 

2. Very Simple Markov-Perfect Industry Dynamics
By Jaap Abbring; Tilburg University
Jeffrey Campbell; Federal Reserve Bank of Chicago
Jan Tilly; University of Pennsylvania
Nan Yang; Business School, National University of
   Presented by: Jeffrey Campbell, Federal Reserve Bank of Chicago
 

3. Agglomeration Matters for Trade
By Enrique Moral-Benito; Bank of Spain
   Presented by: Enrique Moral-Benito, Bank of Spain
 

4. Estimating Platform Market Power in Two-Sided Markets with an Application to Magazine Advertising
By Minjae Song; University of Rochester
   Presented by: Minjae Song, University of Rochester
 
Session 63: Policy making and the Great Recession
June 28, 2013 15:30 to 17:30
 
 

1. Household Debt and Foreign Capital Flows
By Alejandro Justiniano; Federal Reerve Chicago
Giorgio Primiceri; Northwestern University
Andrea Tambalotti; Federal Reserve Bank of New York
   Presented by: Alejandro Justiniano, Federal Reerve Chicago
 

2. Monetary Policy at the Zero Lower Bound: An Endogenous Switching Approach to Forward Guidance
By Daniel Waggoner; Federal Reserve Bank of Atlanta
Tao Zha; Federal Reserve Bank of Atlanta
   Presented by: Daniel Waggoner, Federal Reserve Bank of Atlanta
 

3. Emergency Lending in a Monetary Union
By Harald Uhlig; University of Chicago
   Presented by: Harald Uhlig, University of Chicago
 

4. Escaping the Great Recession
By Francesco Bianchi; Duke University
Leonardo Melosi; Federal Reserve Bank of Chicago
   Presented by: Francesco Bianchi, Duke University
 
Session 64: International Capital Flows
June 28, 2013 15:30 to 17:30
 
 

1. Two-Way Capital Flows and Global Imbalances: A Neoclassical Approach
By pengfei Wang; Hong Kong University of Science and Technology
Yi Wen; Federal Reserve Bank of St. Louis
Zhiwei XU; HKUST
   Presented by: Zhiwei XU, HKUST
 

2. International Capital Flows, Financial Frictions and Welfare
By Filippo Taddei; SAIS - The Johns Hopkins University and Collegio Carlo Alberto
   Presented by: Filippo Taddei, SAIS - The Johns Hopkins University and Collegio Carlo Alberto
 

3. Global Imbalances and Structural Change in the United States
By Timothy Kehoe; University of Minnesota
Kim Ruhl; New York University Stern School of Busi
Joseph Steinberg; Univ of Minnesota
   Presented by: Joseph Steinberg, Univ of Minnesota
 

4. Rising Intangible Capital, Shrinking Debt Capacity, and the US Corporate Savings Glut
By Antonio Falato; Federal Reserve Board
Dalida Kadyrzhanova; University of Maryland
jae sim; Federal Reeserve Board
   Presented by: Antonio Falato, Federal Reserve Board
 
Session 65: Labor Market Search: Heterogeneity and Aggregate Uncertainty
June 28, 2013 15:30 to 17:30
 
 

1. Stochastic Search Equilibrium
By Giuseppe Moscarini; Yale University
Fabien Postel-Vinay; University of Bristol
   Presented by: Fabien Postel-Vinay, University of Bristol
 

2. Efficient firm dynamics in a frictional labor market
By Leo Kaas; University of Konstanz
Philipp Kircher; LSE and University of Edinburgh
   Presented by: Leo Kaas, University of Konstanz
 

3. Job, Employment and Occupation Flows Over the Business Cycle
By Carlos Carrillo-Tudela; Essex
Lodewijk Visschers; Universidad Carlos III
   Presented by: Lodewijk Visschers, Universidad Carlos III
 

4. The Macro-dynamics of Sorting between Workers and Firms
By Jeremy Lise; University College London
Jean-Marc Robin; Sciences-Po
   Presented by: Jeremy Lise, University College London
 
Session 66: Default, Crises, and Financial Intermediation
June 28, 2013 15:30 to 17:30
 
 

1. Sovereign Default Risk and Bank Balance Sheets
By Emine Boz; International Monetary Fund
Pablo D'Erasmo; University of Maryland
Bora Durdu; Federal Reserve Board
   Presented by: Bora Durdu, Federal Reserve Board
 

2. Sovereign Debt Crises and Financial Contagion: Estimating Effects in an Endogenous Network
By Brent Glover; Carnegie Mellon University
Seth Richards-Shubik; Carnegie Mellon University
   Presented by: Brent Glover, Carnegie Mellon University
 

3. Financial Intermediation, Sudden Stops and Financial Crises
By Ozge Akinci; Federal Reserve Board of Governors
Albert Queralto; Federal Reserve Board
   Presented by: Albert Queralto, Federal Reserve Board
 

4. Time-Varying Risk Premia and Capital Flows to Developing Countries
By Espen Henriksen; UC Davis
Ina Simonovska; University of California, Davis
   Presented by: Ina Simonovska, University of California, Davis
 
Session 67: Advances in Public Finance
June 28, 2013 15:30 to 17:30
 
 

1. Optimal Taxation and Occupational Choice: The Redistributive Role of Production Inefficiencies
By Renato Gomes; Toulouse School of Economics
Jean-Marie Lozachmeur; Toulouse School of Economics
Alessandro Pavan; Northwestern University
   Presented by: Renato Gomes, Toulouse School of Economics
 

2. Social Insurance, Information Revelation, and Lack of Commitment
By Mikhail Golosov; Princeton University
Luigi Iovino; Bocconi
   Presented by: Luigi Iovino, Bocconi
 

3. Market-based incentives
By Borys Grochulski; Federal Reserve Bank of Richmond
Yuzhe Zhang; Texas A&M University
   Presented by: Borys Grochulski, Federal Reserve Bank of Richmond
 

4. Optimal Taxation of Wealthy Individuals
By Ali Shourideh; University of Pennsylavnia
   Presented by: Ali Shourideh, University of Pennsylavnia
 
Session 68: Macroeconomics Across Time and Space
June 28, 2013 15:30 to 17:30
 
 

1. Trends in Hours Worked across Countries: Evidence using Micro Data
By Alexander Bick; Arizona State University
Bettina Brueggemann; Goethe University Frankfurt
Nicola Fuchs-Schuendeln; Goethe University Frankfurt
   Presented by: Alexander Bick, Arizona State University
 

2. Explaining Educational Attainment across Countries and over Time
By Diego Restuccia; University of Toronto
Guillaume Vandenbroucke; University of Southern California
   Presented by: Diego Restuccia, University of Toronto
 

3. Labor Supply Incentives of Medicaid
By Svetlana Pashchenko; Uppsala University
Ponpoje (Poe) Porapakkarm; University of Macau
   Presented by: Ponpoje (Poe) Porapakkarm, University of Macau
 

4. Consumption, Income and Wealth of the Very Poor: An Empirical Investigation of Cross-sectional and Lifetime Inequality in Sub-Saharan Africa
By Leandro De Magalhaes; University of Bristol
Raul Santaeulalia-Llopis; Washington University in St. Louis
   Presented by: Leandro De Magalhaes, University of Bristol
 
Session 69: Household Risk Sharing
June 28, 2013 15:30 to 17:30
 
 

1. Implications of Labor Market Frictions for Risk Aversion and Risk Premia
By Eric Swanson; Federal Reserve Bank of San Francisco
   Presented by: Eric Swanson, Federal Reserve Bank of San Francisco
 

2. Risk Aversion Heterogeneity, Risky Jobs and Wealth Inequality
By Marco Cozzi; Queen's University
   Presented by: Marco Cozzi, Queen's University
 

3. Household Income Risk, Nominal Frictions, and Incomplete Markets
By Christian Bayer; Universitaet Bonn
Ralph Lütticke; Uni Bonn
Lien Pham; Uni Bonn
Volker Tjaden; Bonn University
   Presented by: Christian Bayer, Universitaet Bonn
 

4. Efficient Risk Sharing with Model Uncertainty
By anmol bhandari; nyu
   Presented by: anmol bhandari, nyu
 
Session 70: Productivity and Growth
June 28, 2013 15:30 to 17:30
 
 

1. Binding Up the Nation's Wounds: An Economic Analysis of the Korean Reunification
By Sang Yoon (Tim) Lee; University of Mannheim
Yongseok Shin; Washington University in St. Louis
   Presented by: Yongseok Shin, Washington University in St. Louis
 

2. A Unified Model of Structural Adjustments and International Trade: Theory and Evidence from China
By Jiandong Ju; Tsinghua University
Vivian Yue; Federal Reserve Board of Governors
   Presented by: Jiandong Ju, Tsinghua University
 

3. Is the GDP growth rate in NIPA a welfare measure?
By Omar Licandro; IAE-CSIC and Barcelona GSE
Jorge Duran; Université Libre de Bruxelles
   Presented by: Omar Licandro, IAE-CSIC and Barcelona GSE
 

4. The Role of Allocative Efficiency in A Decade of Recovery
By Kaiji Chen; Emory University
   Presented by: Kaiji Chen, Emory University
 
Session 71: Macro Finance
June 28, 2013 15:30 to 17:30
 
 

1. Means of payment and timing of mergers and acquisitions in a dynamic economy
By Alexander Gorbenko; London Business School
Andrey Malenko; Massachusetts Institute of Technology
   Presented by: Alexander Gorbenko, London Business School
 

2. Who Should Pay for Credit Ratings and How?
By Anil Kashyap; University of Chicago
Natalia Kovrijnykh; Arizona State University
   Presented by: Natalia Kovrijnykh, Arizona State University
 

3. Household risk management
By Adriano Rampini; Duke University
S. Viswanathan; Duke University
   Presented by: Adriano Rampini, Duke University
 

4. Dynamic Debt Runs and the Market for Variable Rate Demand Obligations
By Bin Wei; Federal Reserve Board
Vivian Yue; Federal Reserve Board of Governors
   Presented by: Bin Wei, Federal Reserve Board
 
Session 72: Geography, Risk Sharing, and Income Inequality
June 28, 2013 15:30 to 17:30
 
 

1. The Geography of the Great Recession
By Alessandra Fogli; University of Minnesota
enoch hill; university of minnesota
Fabrizio Perri; University of Minnesota
   Presented by: Alessandra Fogli, University of Minnesota
 

2. Macroeconomic Implications of Agglomeration
By Morris Davis; University of Wisconsin-Madison, School
Jonas Fisher; Federal Reserve Bank of Chicago
Toni Whited; University of Rochester
   Presented by: Jonas Fisher, Federal Reserve Bank of Chicago
 

3. Fiscal Policy and inequality in economies with large, unproductive, agricultural sectors
By Adrian Peralta-Alva; International Monetary Fund and Federal Reserve Bank of St. Louis
   Presented by: Adrian Peralta-Alva, International Monetary Fund and Federal Reserve Bank of St. Louis
 
Session 73: Human Capital and Development
June 29, 2013 9:45 to 11:45
 
 

1. Instability, Misallocation and Productivity
By Rody Manuelli; Washington University in St. Louis
Thomas Sargent; New York University
   Presented by: Rody Manuelli, Washington University in St. Louis
 

2. Human Capital and the Urban and Structural Transformation of Countries
By Alexander Monge-Naranjo; Federal Reserve Bank of St. Louis
Alejandro Badel; Federal Reserve Bank of St. Louis
Pedro Ferreira; Fundação Getulio Vargas
   Presented by: Alexander Monge-Naranjo, Federal Reserve Bank of St. Louis
 

3. The Option Value of Human Capital
By Sang Yoon (Tim) Lee; University of Mannheim
Yongseok Shin; Washington University in St. Louis
   Presented by: Sang Yoon (Tim) Lee, University of Mannheim
 

4. Refugees and Early Childhood Human Capital
By Todd Schoellman; Arizona State University
   Presented by: Todd Schoellman, Arizona State University
 
Session 74: Bubbles and Identification in DSGE models
June 29, 2013 9:45 to 11:45
 
 

1. A Bayesian DSGE Model of Stock Market Bubbles and Business Cycles
By Jianjun Miao; Boston University
Pengfei Wang; Hong Kong University of Science and Tech
Zhiwei Xu; Hong Kong University of Science and Technology
   Presented by: Pengfei Wang, Hong Kong University of Science and Tech
 

2. On the distribution of information in the moment structure of DSGE models
By Nikolay Iskrev; Bank of Portugal
   Presented by: Nikolay Iskrev, Bank of Portugal
 

3. On the Identification of Financial and Uncertainty Shocks
By Dario Caldara; Federal Reserve Board of Governors
Cristina Fuentes Albero; Rutgers University
Simon Gilchrist; Boston University
Egon Zakrajsek; Federal Reserve Board
   Presented by: Dario Caldara, Federal Reserve Board of Governors
 

4. Stock Market Bubbles and Unemployment
By Jianjun Miao; Boston University
Pengfei Wang; Hong Kong University of Science and Tech
Lifang Xu; The Hong Kong University of Science and Technology
   Presented by: Lifang Xu, The Hong Kong University of Science and Technology
 
Session 75: Networks in Macroeconomics
June 29, 2013 9:45 to 11:45
 
 

1. Business Networks, Production Chains, and Productivity: A Theory of Input-Output Architecture
By Ezra Oberfield; Federal Reserve Bank of Chicago
   Presented by: Ezra Oberfield, Federal Reserve Bank of Chicago
 

2. Interaction-based Foundation of Aggregate Investment Shocks
By Makoto Nirei; Hitotsubashi University
   Presented by: Makoto Nirei, Hitotsubashi University
 

3. Financial Frictions in Production Networks
By Saki Bigio; Columbia Business School
   Presented by: Saki Bigio, Columbia Business School
 

4. The Rise of General Purpose Technologies
By Vasco Carvalho; CREI and Universitad Pompeu Fabra
Nico Voigtlaender; UCLA
   Presented by: Vasco Carvalho, CREI and Universitad Pompeu Fabra
 
Session 76: Money, Liquidity, and Trading in OTC Markets
June 29, 2013 9:45 to 11:45
 
 

1. On the stability of money demand
By Juan Nicolini; Federal Reserve Bank of Minneapolis
   Presented by: Juan Nicolini, Federal Reserve Bank of Minneapolis
 

2. A Model of Monetary Exchange in Over-the-Counter Markets
By Ricardo Lagos; New York University
Shengxing Zhang; New York University
   Presented by: Shengxing Zhang, New York University
 

3. Trading and Information Diffusion in Over-the-Counter Markets
By Ana Babus; Imperial College London
Peter Kondor; Central European University
   Presented by: Ana Babus, Imperial College London
 

4. Dealers' Insurance, Market Structure And Liquidity
By Francesca Carapella; Federal Reserve Board
Cyril Monnet; Universitat Bern
   Presented by: Francesca Carapella, Federal Reserve Board
 
Session 77: Dynamic Taxation and Insurance
June 29, 2013 9:45 to 11:45
 
 

1. Dynamic Tax Reforms
By Mikhail Golosov; Princeton University
Aleh Tsyvinski; Yale University
Nicolas Werquin; Yale University
   Presented by: Nicolas Werquin, Yale University
 

2. Welfare programs and motivation bias of social workers
By Pierre Boyer; University of Mannheim
Jean-Marie Lozachmeur; Toulouse School of Economics
   Presented by: Jean-Marie Lozachmeur, Toulouse School of Economics
 

3. Taxes, Wedges and Aggregate Uncertainty: A Mirrleesian Approach.
By Carlos da Costa; Fundação Getulio Vargas
   Presented by: Carlos da Costa, Fundação Getulio Vargas
 

4. Optimal capital taxation for time-nonseparable preferences
By Sebastian Koehne; Stockholm University
Moritz Kuhn; University of Bonn
   Presented by: Sebastian Koehne, Stockholm University
 
Session 78: Entry Costs, Firm Sizes, and Development
June 29, 2013 9:45 to 11:45
 
 

1. Foreign Firms, Distribution of Income, and the Welfare of Developing Countries
By Manuel García-Santana; ECARES
   Presented by: Manuel García-Santana, ECARES
 

2. Entry Costs Rise with Development
By Albert Bollard
Peter Klenow; Stanford University
Huiyu Li; Stanford University
   Presented by: Huiyu Li, Stanford University
 

3. Capital Account Openness and the Losses from Financial Frictions
By Minsoo Han; Pennsylvania State University
   Presented by: Minsoo Han, Pennsylvania State University
 

4. The Role of Establishment Heterogeneity in the Recovery from Sudden Stops
By Horag Choi; Monash University
   Presented by: Horag Choi, Monash University
 
Session 79: Search Theory
June 29, 2013 9:45 to 11:45
 
 

1. Efficient Entry in Competitive Search with Nonrival Meetings and Asymmetric Information
By James Albrecht; Georgetown University
   Presented by: James Albrecht, Georgetown University
 

2. Mixed search
By Anna Godøy; The Ragnar Frisch Centre for
Espen Moen; Norwegian Business School-BI
   Presented by: Anna Godøy, The Ragnar Frisch Centre for
 

3. Bidding for Teams
By Benoit Julien; Australian School of Business, UNSW
John Kennes; Aarhus University
Moritz Ritter; Temple University
   Presented by: Moritz Ritter, Temple University
 

4. Stochastic Sorting
By Hector Chade; arizona state university
   Presented by: Hector Chade, arizona state university
 
Session 80: Uncertainty and Fluctuations
June 29, 2013 9:45 to 11:45
 
 

1. Modeling the Evolution of Expectations and Uncertainty in General Equilibrium
By Leonardo Melosi; Federal Reserve Bank of Chicago
   Presented by: Leonardo Melosi, Federal Reserve Bank of Chicago
 

2. Entrepreneurial Tail Risk: Implications for Employment Dynamics
By Thorsten Drautzburg; University of Chicago
   Presented by: Thorsten Drautzburg, University of Chicago
 

3. Uncertainty and Investment Options
By Nancy Stokey; University of Chicago
   Presented by: Nancy Stokey, University of Chicago
 

4. Uncertainty Shocks Are Aggregate Demand Shocks
By Sylvain Leduc; Federal Reserve Bank of San Francisco
Zheng Liu; Federal Reserve Bank of San Francisco
   Presented by: Zheng Liu, Federal Reserve Bank of San Francisco
 
Session 81: Government Spending
June 29, 2013 9:45 to 11:45
 
 

1. Fiscal Reform and Government Debt in Japan: A Neoclassical Perspective
By Gary Hansen; UCLA
Selahattin Imrohoroglu; University of Southern California
   Presented by: Gary Hansen, UCLA
 

2. On the Optimal Size of Public Employment
By Anna Dos Reis; PUC-Rio
Eduardo Zilberman; PUC-Rio
   Presented by: Eduardo Zilberman, PUC-Rio
 

3. Are Government Spending Multipliers State Dependent? Evidence from U.S. and Canadian Historical Data
By Michael Owyang; Federal Reserve Bank of St Louis
Valerie Ramey; University of California, San Diego
Sarah Zubairy; Bank of Canada
   Presented by: Valerie Ramey, University of California, San Diego
 

4. Deficits, Gifts, and Bequests
By Daniel Barczyk; McGill University
   Presented by: Daniel Barczyk, McGill University
 
Session 82: Inequality and Intergenerational Mobility
June 29, 2013 9:45 to 11:45
 
 

1. Accounting for the Trends in Inequality and Intergenerational Mobility in the U.S.
By Marina Mendes Tavares; ITAM
Carlos Urrutia; Instituto Tecnológico Autónomo de México
   Presented by: Marina Mendes Tavares, ITAM
 

2. The inheritance of Advantage
By jose rodriguez mora; university of edinburgh
   Presented by: jose rodriguez mora, university of edinburgh
 

3. Public Education Financing Systems, Earnings Inequality, and Intergenerational Mobility
By Christopher Herrington; Arizona State University
   Presented by: Christopher Herrington, Arizona State University
 

4. It's Not Me, It's You: Social Skills and Human Capital in the Labor and Marriage Markets
By Gueorgui Kambourov; University of Toronto
Aloysius Siow; University of Toronto
Laura Turner; University of Toronto
   Presented by: Laura Turner, University of Toronto
 
Session 83: Longevity, Fertility, and Health
June 29, 2013 9:45 to 11:45
 
 

1. The Longevity of Famous People from Hammurabi to Einstein
By David de la Croix; Univ cath Louvain
Omar Licandro; IAE-CSIC and Barcelona GSE
   Presented by: David de la Croix, Univ cath Louvain
 

2. Does longevity improvement always raise the length of schooling through the longer-horizon mechanism?
By Sau-Him Lau; University of Hong Kong
   Presented by: Sau-Him Lau, University of Hong Kong
 

3. Female Employment and Fertility: The Effects of Rising Female Wages
By Christian Siegel; University of Exeter
   Presented by: Christian Siegel, University of Exeter
 

4. Cross-subsidization in employer-based health insurance and the effects of tax subsidy reform
By Svetlana Pashchenko; Uppsala University
Ponpoje (Poe) Porapakkarm; University of Macau
   Presented by: Svetlana Pashchenko, Uppsala University
 
Session 84: Household Insurance and Credit
June 29, 2013 9:45 to 11:45
 
 

1. Does the Social Safety Net Improve Welfare?: A Dynamic General Equilibrium Analysis
By Kai Zhao; University of Connecticut
   Presented by: Kai Zhao, University of Connecticut
 

2. Health Insurance over the Life Cycle with Adverse Selection
By Martin Dumav; Institut für Mathematische Wirtschaftsforschung
   Presented by: Martin Dumav, Institut für Mathematische Wirtschaftsforschung
 

3. Tax Avoidance, Welfare Transfers, and Asset Prices
By Denis Gorea; Goethe University Frankfurt
   Presented by: Denis Gorea, Goethe University Frankfurt
 

4. A Quantitative Theory of Credit Scoring
By Kartik Athreya; Federal Reserve Bank of Richmond
Xuan Tam; Cambridge University
Eric Young; University of Virginia
   Presented by: Kartik Athreya, Federal Reserve Bank of Richmond
 
Session 85: Sovereign Debt
June 29, 2013 13:00 to 15:00
 
 

1. Secondary markets in turbulent times
By Alberto Martin; CREI and Universitat Pompeu Fabra
   Presented by: Alberto Martin, CREI and Universitat Pompeu Fabra
 

2. Optimal Domestic Sovereign Default
By Enrique Mendoza; University of Pennsylvania
   Presented by: Enrique Mendoza, University of Pennsylvania
 

3. Evaluating the Welfare Effects of International Bankruptcy Regimes in a Political Economy Model
By Satyajit Chatterjee; Federal Reserve Bank of Philadelphia
Burcu Eyigungor; Federal Reserve Bank of Phildelphia
   Presented by: Satyajit Chatterjee, Federal Reserve Bank of Philadelphia
 

4. Sovereign Risk and Financial Risk
By Simon Gilchrist; Boston University
Vivian Yue; Federal Reserve Board of Governors
Egon Zakrajsek; Federal Reserve Board
   Presented by: Vivian Yue, Federal Reserve Board of Governors
 
Session 86: Search in the Housing Market
June 29, 2013 13:00 to 15:00
 
 

1. Housing and Liquidity
By Chao He; Renmin University of China
Randall Wright; University of Wisconsin
Yu Zhu; University of Wisconsin - Madison
   Presented by: Chao He, Renmin University of China
 

2. Directed Search in the Housing Market
By James Albrecht; Georgetown University
Pieter Gautier; VU University Amsterdam
Susan Vroman; Georgetown University
   Presented by: Susan Vroman, Georgetown University
 

3. Trading Places
By Monika Piazzesi; Stanford University
   Presented by: Monika Piazzesi, Stanford University
 

4. Learning from Search in the Housing Market
By Leena Rudanko; Boston University
Irina Telyukova; UC San Diego
   Presented by: Leena Rudanko, Boston University
 
Session 87: Family, Demography, and the Macroeconomy
June 29, 2013 13:00 to 15:00
 
 

1. Jobless Recoveries and Gender Biased Technological Change
By Stefania Albanesi; Federal Reserve Bank of New York
Aysegul Sahin; Federal Reserve Bank of New York
   Presented by: Stefania Albanesi, Federal Reserve Bank of New York
 

2. The Fading Dynamism of the US Labor Market: The Role of Demographics
By Isabel Cairo; Universitat Pompeu Fabra
Tomaz Cajner; Federal Reserve Board
   Presented by: Tomaz Cajner, Federal Reserve Board
 

3. Female Migration, Human Capital and Fertility
By Vincenzo Caponi; Ryerson University
   Presented by: Vincenzo Caponi, Ryerson University
 

4. An Equilibrium Model of the African HIV/AIDS Epidemic
By Jeremy Greenwood; University of Pennsylvania
Philipp Kircher; LSE and University of Edinburgh
Cezar Santos; University of Mannheim
Michele Tertilt; University of Mannheim
   Presented by: Cezar Santos, University of Mannheim
 
Session 88: The Service Sector Across Time and Countries
June 29, 2013 13:00 to 15:00
 
 

1. Home Work and Market Work in the US and Continental Europe
By Georg Duernecker; University of Mannheim
Berthold Herrendorf; Arizona State University
   Presented by: Georg Duernecker, University of Mannheim
 

2. Quantifying the Growth in Services: the Role of Skills, Scale, and Female Labor Supply
By Francisco Buera; University of California at Los Angeles
Joseph Kaboski; University of Notre Dame
Min Qiang (Kent) Zhao; Xiamen University
   Presented by: Min Qiang (Kent) Zhao, Xiamen University
 

3. The Service Sector and Female Market Work: Europe vs the US
By Michelle Rendall; University of Zurich
   Presented by: Michelle Rendall, University of Zurich
 

4. Services, Skill and Labor Supply: A Cross-Country Perspective
By Francisco Buera; University of California at Los Angeles
Joseph Kaboski; University of Notre Dame
Richard Rogerson; Princeton University
   Presented by: Joseph Kaboski, University of Notre Dame
 
Session 89: Tax Distortions and Political Economy
June 29, 2013 13:00 to 15:00
 
 

1. Will A Decline in The Corporate Income Tax Rate Generate Jobs?
By Daphne Chen; Florida State University
Shi Qi; Florida State University
Don Schlagenhauf; Florida State University
   Presented by: Daphne Chen, Florida State University
 

2. Fiscal policy coordination in monetary unions
By Josef Schroth; Bank of Canada
   Presented by: Josef Schroth, Bank of Canada
 

3. Sand in the Wheels of Capitalism, On the Political Economy of Capital Market Frictions
By Mario Bersem; Copenhagen Business School
Enrico Perotti; U Amsterdam and CEPR
Ernst-Ludwig von Thadden; Universität Mannheim
   Presented by: Mario Bersem, Copenhagen Business School
 

4. Political Turnover, Dynamic Separation of Power and Efficiency
By Facundo Piguillem; Einaudi Institute for Economics and Fina
Alessandro Riboni; University of Montreal
   Presented by: Facundo Piguillem, Einaudi Institute for Economics and Fina
 
Session 90: Information Frictions: Theory and Evidence
June 29, 2013 13:00 to 15:00
 
 

1. Marginal Tax Rates and Reported Incomes: New Time Series Evidence
By Karel Mertens; Cornell University
   Presented by: Karel Mertens, Cornell University
 

2. Attention Discrimination: Theory and Field Experiments
By Filip Matejka; CERGE-EI
   Presented by: Filip Matejka, CERGE-EI
 

3. Public Information in Populations with Heterogenous Interests
By Kristoffer Nimark; Universitat Pompeu Fabra
   Presented by: Kristoffer Nimark, Universitat Pompeu Fabra
 

4. Information Processing and Limited Liability
By Bartosz Mackowiak; European Central Bank
Mirko Wiederholt; Goethe University Frankfurt
   Presented by: Mirko Wiederholt, Goethe University Frankfurt
 
Session 91: Global Production
June 29, 2013 13:00 to 15:00
 
 

1. The Perfect Match: Assortative Matching in International Acquisitions
By Maria Guadalupe; INSEAD
Veronica Rappoport; London School of Economics
Bernard Salanie; Columbia University
Catherine Thomas; London School of Economics
   Presented by: Veronica Rappoport, London School of Economics
 

2. Global Production with Export Platforms
By Felix Tintelnot; The Pennsylvania State University
   Presented by: Felix Tintelnot, The Pennsylvania State University
 

3. Global Welfare Impact of China: Trade Integration and Technology Change
By Jing Zhang; University of Michigan
   Presented by: Jing Zhang, University of Michigan
 

4. Measuring Horizontal and Vertical Foreign Direct Investment
By Natalia Ramondo; Arizona State University
Veronica Rappoport; London School of Economics
Kim Ruhl; New York University Stern School of Busi
   Presented by: Kim Ruhl, New York University Stern School of Business
 
Session 92: Barriers to Reallocation
June 29, 2013 13:00 to 15:00
 
 

1. Delayed Capital Reallocation
By Wei Cui; Princeton University
   Presented by: Wei Cui, Princeton University
 

2. On the Measure of Distortions
By Hugo A. Hopenhayn; UCLA
   Presented by: Hugo A. Hopenhayn, UCLA
 

3. The Market for Used Capital: Endogenous Irreversibility and Reallocation over the Business Cycle
By Andrea Lanteri; London School of Economics
   Presented by: Andrea Lanteri, London School of Economics
 
Session 93: Monetary Policy and Welfare
June 29, 2013 13:00 to 15:00
 
 

1. Optimal Monetary Policy in an Open Economy under Asset Market Segmentation
By Rajesh Singh; Iowa State University
   Presented by: Rajesh Singh, Iowa State University
 

2. Demand for Liquidity and Welfare Cost of Inflation by Cohort and Age of Households
By Shutao Cao; Bank of Canada
Césaire Meh; Bank of Canada
Jose-Victor Rios-Rull; University of Minnesota
Yaz Terajima; Bank of Canada
   Presented by: Yaz Terajima, Bank of Canada
 

3. Search-Based Endogenous Illiquidity, Business Cycles and Monetary Policy
By Wei Cui; Princeton University
Soeren Radde; German Institute for Economic Research
   Presented by: Soeren Radde, German Institute for Economic Research
 

4. Monetary Policy in Private Money Economies
By David Andolfatto; Federal Reserve Bank of St. Louis
Aleksander Berentsen; University of Basel
Christopher Waller; University of Notre Dame
   Presented by: Christopher Waller, University of Notre Dame
 
Session 94: Labor and Finance
June 29, 2013 13:00 to 15:00
 
 

1. On the Composition Effects on the Labor Market Outcomes
By Javier Fernandez-Blanco; University Carlos III of Madrid
Pedro Gomes; Universidad Carlos III
   Presented by: Javier Fernandez-Blanco, University Carlos III of Madrid
 

2. Unemployment Risk and the Distribution of Assets
By Jan Eeckhout; University College London and GSE-UPF
   Presented by: Jan Eeckhout, University College London and GSE-UPF
 

3. Labor and Finance: Mortensen and Pissarides meet Holmstrom and Tirole
By Pietro Garibaldi
   Presented by: Pietro Garibaldi,
 

4. Can Employer Credit Checks Create Poverty Traps?
By Daphne Chen; Florida State University
Dean Corbae; University of Wisconsin
Andrew Glover; University of Texas at Austin
   Presented by: Andrew Glover, University of Texas at Austin
 
Session 95: Output, Inflation, and International Macroeconomic Dynamics
June 29, 2013 13:00 to 15:00
 
 

1. The Inflation Output Trade-Off Revisited
By Gauti Eggertsson; Brown University
Marc Giannoni; Federal Reserve Bank of New York
   Presented by: Marc Giannoni, Federal Reserve Bank of New York
 

2. Okun’s Macroscope: Changes in the Cyclical Behavior of Productivity and the Comovement between Output and Unemployment
By Mary Daly; Federal Reserve Bank
John Fernald; Federal Reserve Bank of San Francisco
Oscar Jorda; Federal Reserve Bank of San Francisco
Fernanda Nechio; Federal Reserve Bank of San Francisco
   Presented by: John Fernald, Federal Reserve Bank of San Francisco
 

3. Labor Market Polarization and International Macroeconomic Dynamics
By Federico Mandelman; Federal Reserve Bank of Atlanta
   Presented by: Federico Mandelman, Federal Reserve Bank of Atlanta
 

4. Investment-Specific Technology Shocks and Recursive Preferences
By Hakon Tretvoll; BI Norwegian Business School
   Presented by: Hakon Tretvoll, BI Norwegian Business School
 
Session 96: Global and Repeated Games
June 29, 2013 13:00 to 15:00
 
 

1. Limits to Reputations
By Nuh Dalkiran; Bilkent University
Mehmet Ekmekci; Northwestern University
   Presented by: Nuh Aygun Dalkiran, Bilkent University
 

2. Strongly Symmetric Equilibria in Bandit Games
By Johannes Horner; Yale University
Nicolas Klein; University of Montreal
Sven Rady; University of Bonn
   Presented by: Nicolas Klein, University of Montreal
 

3. Avoidance and Mitigation of Public Harm
By Ruilin Zhou; Pennsylvania State University
Bruno Salcedo; PSU
Bruno Sultanum; Penn State University
   Presented by: Bruno Sultanum, The Pennsylvania State University
 

4. The Power of Whispers: A Theory of Rumor, Communication and Revolution
By Heng Chen; University of Hong Kong
Yang Lu; Hong Kong University of Science and Technology
Wing Suen; The University of Hong Kong
   Presented by: Heng Chen, University of Hong Kong
 
Session 97: Parameter instability in DSGE models
June 29, 2013 15:30 to 17:30
 
 

1. How credible is the Federal Reserve?:A structural estimation of policy re-optimizations
By Davide Debortoli; University of California, San Diego
Aeimit Lakdawala; Michigan State University
   Presented by: Aeimit Lakdawala, Michigan State University
 

2. Monetary Policy Regime Switches and Macroeconomic Dynamics
By Andrew Foerster; Federal Reserve Bank of Kansas City
   Presented by: Andrew Foerster, Federal Reserve Bank of Kansas City
 

3. Inflation Dynamics: The Role of Public Debt and Policy Regimes
By Saroj Bhattarai; Pennsylvania State University
Jae Won Lee; Rutgers University
Woong Yong Park; University of Hong Kong
   Presented by: Woong Yong Park, University of Hong Kong
 

4. State-Dependent Probability Distributions in Non Linear Rational Expectations Models
By Jean Barthelemy; Banque de France
Magali Marx; Banque de France
   Presented by: Jean Barthelemy, Banque de France
 
Session 98: Financial Frictions and Field Experiments in General Equilibrium
June 29, 2013 15:30 to 17:30
 
 

1. Structural Experimentation to Distinguish between Models of Risk Sharing with Frictions
By Ethan Ligon; University of California, Berkeley
Laura Schechter; UW Madison
   Presented by: Ethan Ligon, University of California, Berkeley
 

2. Understanding Peer Effects in Financial Decisions: Evidence from a Field Experiment
By Leonardo Bursztyn; UCLA
Florian Ederer; UCLA
Bruno Ferman; The George Washington University
Noam Yuchtman; UC Berkeley
   Presented by: Florian Ederer, UCLA
 

3. How Does Risk Management Influence Production Decisions? Evidence From a Field Experiment
By Shawn Cole; Harvard Business School
Xavier Gine; World Bank
James Vickery; Federal Reserve Bank of New York
   Presented by: James Vickery, Federal Reserve Bank of New York
 

4. Welfare Losses from Financial Frictions: The Role of Fixed Costs
By Ahrang Lee; The Bank of Korea
   Presented by: Ahrang Lee, The Bank of Korea
 
Session 99: International Macro-Finance
June 29, 2013 15:30 to 17:30
 
 

1. The U.S. Dollar Safety Premium
By Matteo Maggiori; NYU
   Presented by: Matteo Maggiori, NYU
 

2. Inflation Risk and Sovereign Spreads
By Sewon Hur; University of Pittsburgh
Illenin Kondo; Federal Reserve Board
Fabrizio Perri; University of Minnesota
   Presented by: Sewon Hur, University of Pittsburgh
 

3. BKK the EZ way. An International Production Economy with Recursive Preferences.
By Riccardo Colacito; University of North Carolina, Chapel Hil
Mariano Croce; University of North Carolina at Chapel H
Steven Ho; UNC Chapel Hill
Philip Howard; UNC Chapel Hill
   Presented by: Riccardo Colacito, University of North Carolina, Chapel Hil
 
Session 100: Monetary Policy and the Zero Bound on Interest Rates
June 29, 2013 15:30 to 17:30
 
 

1. Structural Reforms in a Monetary Union: The Role of the ZLB
By Gauti Eggertsson; Brown University
Andrea Ferrero; Federal Reserve Bank of New York
Andrea Raffo; Board of Governors of the Federal Reserv
   Presented by: Andrea Raffo, Board of Governors of the Federal Reserv
 

2. The Shadow Rate, Taylor Rules, and Monetary Policy Lift-off
By Michael Bauer; Federal Reserve Bank of San Francisco
Glenn Rudebusch; Federal Reserve Bank of San Francisco
   Presented by: Michael Bauer, Federal Reserve Bank of San Francisco
 

3. Credit Spreads and the Zero Bound on Interest Rates
By Isabel Correia; Banco de Portugal
Fiorella De Fiore; European Central Bank
Pedro Teles; Banco de Portugal, Universidade Catolica
Oreste Tristani; ECB
   Presented by: Fiorella De Fiore, European Central Bank
 

4. Uncertainty at the Zero Lower Bound
By Taisuke Nakata; Federal Reserve Board
   Presented by: Taisuke Nakata, Federal Reserve Board
 
Session 101: Risk and Portfolio Choice
June 29, 2013 15:30 to 17:30
 
 

1. Life Cycle Uncertainty and Portfolio Choice Puzzles
By Marios Karabarbounis; Federal Reserve Bank of Richmond
Yongsung Chang; University of Rochester / Yonsei Univ.
Jay Hong; University of Rochester
   Presented by: Marios Karabarbounis, Federal Reserve Bank of Richmond
 

2. Limited Stock Market Participation Among Renters and Home Owners
By Roine Vestman; Stockholm University and SIFR
   Presented by: Roine Vestman, Stockholm University and SIFR
 

3. Market Preferences for Risk Distributions: Evidence from Lottery Loans
By Francois Velde; Federal Reserve Bank of Chicago
   Presented by: Francois Velde, Federal Reserve Bank of Chicago
 

4. Liquidity and Welfare
By Yi Wen; Federal Reserve Bank of St. Louis
   Presented by: Yi Wen, Federal Reserve Bank of St. Louis
 
Session 102: Unemployment, Product Markets and Search
June 29, 2013 15:30 to 17:30
 
 

1. A Theory of Targeted Search
By Anton Cheremukhin; Federal Reserve Bank of Dallas
Paulina Restrepo-Echavarria; The Ohio State University
Antonella Tutino; Federal Reserve Bank of Dallas
   Presented by: Paulina Restrepo-Echavarria, The Ohio State University
 

2. Wage dynamics in long-term contracts
By Moritz Kuhn; University of Bonn
Philip Jung; Bonn University
   Presented by: Moritz Kuhn, University of Bonn
 

3. Viewing Job-Seekers' Reservation Wages and Acceptance Decisions through the Lens of Search Theory
By Robert Hall; STANFORD UNIVERSITY
Andreas Mueller; Columbia University
   Presented by: Andreas Mueller, Columbia University
 

4. Five Facts About Price Dispersion
By Greg Kaplan; Princeton University
Guido Menzio; University of Pennsylvania
   Presented by: Greg Kaplan, Princeton University
 
Session 103: Uncertainty, Expectations and Business Cycles
June 29, 2013 15:30 to 17:30
 
 

1. Understanding Uncertainty Shocks
By Anna Orlik; Federal Reserve Board of Governors
Laura Veldkamp; NYU Stern
   Presented by: Anna Orlik, Federal Reserve Board of Governors
 

2. Firms' Optimism and Pessimism
By Ruediger Bachmann; RWTH Aachen University
Steffen Elstner; Ifo Institute for Economic Research
   Presented by: Ruediger Bachmann, RWTH Aachen University
 

3. Robust Animal Spirits
By Rhys Bidder; Federal Reserve Bank of San Francisco
Matthew Smith; Federal Reserve Board of Governors
   Presented by: Rhys Bidder, Federal Reserve Bank of San Francisco
 

4. Uncertainty Traps
By Pablo Fajgelbaum; UCLA
Edouard Schaal; New York University
Mathieu Taschereau-Dumouchel; University of Pennsylvania - Wharton School
   Presented by: Edouard Schaal, New York University
 
Session 104: Trade and Development
June 29, 2013 15:30 to 17:30
 
 

1. Internal Geography, International Trade, and Regional Outcomes
By A. Kerem Cosar; University of Chicago
Pablo Fajgelbaum; UCLA
   Presented by: A. Kerem Cosar, University of Chicago
 

2. Competition, Markups, and the Gains from International Trade
By Daniel Yi Xu; Duke University
   Presented by: Daniel Yi Xu, Duke University
 

3. International Trade and Inequality with Multiple Types of Labor and Capital
By Ariel Burstein; UCLA
   Presented by: Ariel Burstein, UCLA
 

4. Grasp the Large, Let Go of the Small: The Transformation of the State Sector in China
By Chang-Tai Hsieh; University of Chicago
Zheng Song; Booth School of Business
   Presented by: Zheng Song, Booth School of Business
 
Session 105: Sovereign Default, Savings and Capital Flows
June 29, 2013 15:30 to 17:30
 
 

1. Explaining World Savings
By Colin Caines; University of British Columbia
Amartya Lahiri; University of British Columbia
   Presented by: Amartya Lahiri, University of British Columbia
 

2. The Size of the Precautionary Component of Household Saving: China and the U.S.
By Horag Choi; Monash University
Steven Lugauer; University of Notre Dame
Nelson Mark; University of Notre Dame
   Presented by: Nelson Mark, University of Notre Dame
 

3. Credibility For Sale
By Harris Dellas; University of Bern
Dirk Niepelt; Gerzensee; U Bern; IIES, Stockholm U
   Presented by: Dirk Niepelt, Gerzensee; U Bern; IIES, Stockholm U
 

4. Migration And The Welfare State: Political-Economy Perspective On Tax Competition
By Assaf Razin; Department of Economics
   Presented by: Assaf Razin, Department of Economics
 
Session 106: Human Capital and Technical Change
June 29, 2013 15:30 to 17:30
 
 

1. Age Earnings Profiles and TFP Differences: Financial Institutions in a Vintage Human Capital Model
By Yong Kim; Yonsei University
   Presented by: Yong Kim, Yonsei University
 

2. The Composition of Knowledge and Economic Growth In A Path-Dependent World
By Jie Cai; University of New South Wales
Nan Li; International Monetary Fund
   Presented by: Nan Li, International Monetary Fund
 

3. Occupational Choice, Human Capital, and Financing Constraints
By Rui Castro; University of Montreal
Pavel Sevcik; Ecole des Sciences de Gestion, Universite du Quebec a Montreal (ESG UQAM)
   Presented by: Pavel Sevcik, Ecole des Sciences de Gestion, Universite du Quebec a Montreal (ESG UQAM)
 

4. N