Society for Economic Dynamics Annual Meeting 2015

Warsaw, Poland

 
June 25, 2015
 
09:30 to 11:00Morning Session I, Day 1
 
 
11:30 to 13:00Morning Session II, Day 1
 
 
14:30 to 16:00Afternoon Session I, Day 1
 
 
16:30 to 18:00Afternoon Session II, Day 1
 
 
18:15 to 19:15Plenary Talk: Chad Jones "A Schumpeterian Model of Top Income Inequality"
 
 
 
June 26, 2015
 
09:30 to 11:00Morning Session I, Day 2
 
 
11:30 to 13:00Morning Session II, Day 2
 
 
14:30 to 16:00Afternoon Session I, Day 2
 
 
16:30 to 18:00Afternoon Session II, Day 2
 
 
18:15 to 19:15Inaugural Dale Mortensen Lecture: Richard Blundell "Human Capital, Labor Supply and Tax Reform"
 
 
 
June 27, 2015
 
09:30 to 11:00Morning Session I, Day 3
 
 
11:30 to 13:00Morning Session II, Day 3
 
 
14:30 to 16:00Afternoon Session I, Day 3
 
 
16:30 to 18:00Afternoon Session II, Day 3
 
 
18:15 to 19:15Plenary Talk: Sam Kortum "New Terrain for International Trade"
 
 

 

Program Notes and Index of Sessions

Morning Session I, Day 1
June 25, 2015 09:30 to 11:00
 
Exporter and Importer Matches in International Trade
Multiple Equilibria and Financial Crises
Search theory and applications
Understanding Aggregate Demand Shortages
Taxation and Social Insurance
Unemployment and Fluctuations
Development economics
Enforcement of Debt Contracts
Education Policy and Human Capital Accumulation
Future of Monetary Unions presented by Narodowy Bank Polski
Housing
Dispersed Information

Morning Session II, Day 1
June 25, 2015 11:30 to 13:00
 
International Trade and Banking
International Capital Flows
Unconventional Monetary Policy
Household Finance: Consumer Bankruptcy
Labor markets and asset markets
Uncertainty in Macroeconomics
Inequality and Optimal Policy
Asset returns and the real economy
Search in Labor Markets
Parental Investment
Firms: Trends and Frictions
Consumer Credit and Portfolio Choices

Afternoon Session I, Day 1
June 25, 2015 14:30 to 16:00
 
Innovation in the Global Economy
Sovereign Debt and Default: Theory and Evidence
Time series econometrics in Macroeconomics
Heterogeneity and Business Cycles
Mortgages
Information, Disagreement and Coordination
Advances in Macro-Finance
Issues in Taxation
Search and Matching in OTC markets
Geographic Distribution of Economic Activity and the Macroeconomy
Industry Dynamics
Human Capital

Afternoon Session II, Day 1
June 25, 2015 16:30 to 18:00
 
Pass-Through: Theory and Evidence
Innovation and Industry Dynamics
Macroeconomic Fluctuations
Wealth and Income Inequality
Labor Supply
Financial Frictions and Business Cycle Fluctuations
Advances in Dynamic Optimal Taxation
Search and Endogenous Liquidity
Rational Inattention with Macro Applications
Firms: Partnerships & Reputation
Long-Run Development and Economic Mobility
Macro Effects of Household Debt

Plenary Talk: Chad Jones "A Schumpeterian Model of Top Income Inequality"
June 25, 2015 18:15 to 19:15

Morning Session I, Day 2
June 26, 2015 09:30 to 11:00
 
International Trade
Policy in Debt Crises
Economics of Innovation and Growth
Pricing Models: Micro Evidence
Information in Financial Markets
Occupational Choice and Wages
Fiscal Policy with Heterogeneous Agents
Optimal Contracting, Taxation and Human Capital
Asset Pricing
Frictions and Pricing
Information and Enforcement in Credit Markets
Macro Models: Asset Pricing and Policy

Morning Session II, Day 2
June 26, 2015 11:30 to 13:00
 
International Trade and Growth
Firms in Developing Countries
Estimating Earnings Risk over the Life Cycle
Household Finance and Banking
Advances in Computation in Macro
Retail pricing in frictional markets
Financial Frictions and Asset Prices
Optimal Tax Policy
Leo Hurwicz Special Session (1)
Monetary Policy
Monetary Economics
Information, Coordination and Business Cycles

Afternoon Session I, Day 2
June 26, 2015 14:30 to 16:00
 
International Macro: Liquidity
Macroeconomic Fluctuations and Policies
Uncertainty and Heterogeneous Beliefs
Employment and Wages
Migration and the Macroeconomy
Firm Dynamics and Financial Frictions
Search in Product Markets
Fiscal Policy
Networks and Counterparty Risk: Theory and Empirics
Household Credit
Advances in Political Economy
Advances in Open Macroeconomics and Finance

Afternoon Session II, Day 2
June 26, 2015 16:30 to 18:00
 
International Trade, Growth and Development
Empirical International Finance
Technology and Productivity
Asymmetric information
Financial Markets and the Macroeconomy presented by Narodowy Bank Polski
Understanding Wealth Inequality
Labor Markets and Employment
Prices: Theories and Evidence
Firm Dynamics and the Business Cycle 2
Trade, Skill Demand, and Income Inequality
Political Economy
Macroeconomic Effects of Illiquid Housing

Inaugural Dale Mortensen Lecture: Richard Blundell "Human Capital, Labor Supply and Tax Reform"
June 26, 2015 18:15 to 19:15

Morning Session I, Day 3
June 27, 2015 09:30 to 11:00
 
Understanding Exporters
Exchange Rates and the Macroeconomy
Firm Dynamics and Growth
Costly Price Adjustment: New Data and New Approaches
Stimulus and the Macroeconomy
New Approaches to the Analysis of Labor Market Data
Micro Shocks and Macro Fluctuations
Recent Advances on Factor Shares and Inequality
Cycles and Multiplicity
Inattention and Heterogeneous Beliefs
Bank Runs
Production Networks

Morning Session II, Day 3
June 27, 2015 11:30 to 13:00
 
International Trade: Linkages
Economics of Public and Private Debt
Misallocation
Macroeconomics at the Zero Lower Bound
Models of Beliefs
Macro Dynamics and Intermediation
Family Micro and Macro
Empirics of Labor Markets
New Theories of Business Cycles
Structural Change
Leo Hurwicz Special Session (2)
Intermediation

Afternoon Session I, Day 3
June 27, 2015 14:30 to 16:00
 
Innovation in the Global Economy 2
Leveraging and Deleveraging
Risk Sharing in Developing Countries
Wages and Employment
Distributional Implications of Policy
Empirical Analyses of Fiscal Policy
Long-Run Economic Growth and Development
Financial Intermediation
Housing Perspectives
Endogenous uncertainty
Heterogeneity and Monetary Policy
Monetary Economics

Afternoon Session II, Day 3
June 27, 2015 16:30 to 18:00
 
Trade, Infrastructure and Economic Development
Collateral and Safety
Productivity, Innovation and Growth
Monetary Policy: Theory and Evidence
Expectations in Macroeconomics
New Theories of Inequality
Macroeconomics across Time and Space
Regulatory Constraints on Financial Intermediation
Labor flows and wage dynamics
Methodological Advances
Management Matters
Consumption and Income Risk

Plenary Talk: Sam Kortum "New Terrain for International Trade"
June 27, 2015 18:15 to 19:15

 

Summary of All Sessions

Session
ID code
Date/TimeLocationTitlePapers
40June 25, 2015
9:30-11:00
N/A Exporter and Importer Matches in International Trade3
5June 25, 2015
9:30-11:00
N/A Multiple Equilibria and Financial Crises3
7June 25, 2015
9:30-11:00
N/A Search theory and applications3
52June 25, 2015
9:30-11:00
N/A Understanding Aggregate Demand Shortages3
23June 25, 2015
9:30-11:00
N/A Taxation and Social Insurance3
130June 25, 2015
9:30-11:00
N/A Unemployment and Fluctuations3
37June 25, 2015
9:30-11:00
N/A Development economics 3
59June 25, 2015
9:30-11:00
N/A Enforcement of Debt Contracts3
2June 25, 2015
9:30-11:00
N/A Education Policy and Human Capital Accumulation3
70June 25, 2015
9:30-11:00
N/A Future of Monetary Unions presented by Narodowy Bank Polski3
9June 25, 2015
9:30-11:00
N/A Housing3
114June 25, 2015
9:30-11:00
N/A Dispersed Information3
94June 25, 2015
11:30-13:00
N/A International Trade and Banking3
43June 25, 2015
11:30-13:00
N/A International Capital Flows3
19June 25, 2015
11:30-13:00
N/A Unconventional Monetary Policy3
27June 25, 2015
11:30-13:00
N/A Household Finance: Consumer Bankruptcy3
34June 25, 2015
11:30-13:00
N/A Labor markets and asset markets3
115June 25, 2015
11:30-13:00
N/A Uncertainty in Macroeconomics3
28June 25, 2015
11:30-13:00
N/A Inequality and Optimal Policy3
35June 25, 2015
11:30-13:00
N/A Asset returns and the real economy3
131June 25, 2015
11:30-13:00
N/A Search in Labor Markets3
58June 25, 2015
11:30-13:00
N/A Parental Investment3
150June 25, 2015
11:30-13:00
N/A Firms: Trends and Frictions3
33June 25, 2015
11:30-13:00
N/A Consumer Credit and Portfolio Choices 3
42June 25, 2015
14:30-16:00
N/A Innovation in the Global Economy3
44June 25, 2015
14:30-16:00
N/A Sovereign Debt and Default: Theory and Evidence3
16June 25, 2015
14:30-16:00
N/A Time series econometrics in Macroeconomics3
24June 25, 2015
14:30-16:00
N/A Heterogeneity and Business Cycles3
95June 25, 2015
14:30-16:00
N/A Mortgages3
144June 25, 2015
14:30-16:00
N/A Information, Disagreement and Coordination3
4June 25, 2015
14:30-16:00
N/A Advances in Macro-Finance3
49June 25, 2015
14:30-16:00
N/A Issues in Taxation3
61June 25, 2015
14:30-16:00
N/A Search and Matching in OTC markets3
25June 25, 2015
14:30-16:00
N/A Geographic Distribution of Economic Activity and the Macroeconomy3
74June 25, 2015
14:30-16:00
N/A Industry Dynamics3
125June 25, 2015
14:30-16:00
N/A Human Capital3
64June 25, 2015
16:30-18:00
N/A Pass-Through: Theory and Evidence3
56June 25, 2015
16:30-18:00
N/A Innovation and Industry Dynamics3
21June 25, 2015
16:30-18:00
N/A Macroeconomic Fluctuations3
45June 25, 2015
16:30-18:00
N/A Wealth and Income Inequality3
57June 25, 2015
16:30-18:00
N/A Labor Supply3
50June 25, 2015
16:30-18:00
N/A Financial Frictions and Business Cycle Fluctuations3
53June 25, 2015
16:30-18:00
N/A Advances in Dynamic Optimal Taxation3
129June 25, 2015
16:30-18:00
N/A Search and Endogenous Liquidity3
51June 25, 2015
16:30-18:00
N/A Rational Inattention with Macro Applications3
135June 25, 2015
16:30-18:00
N/A Firms: Partnerships & Reputation3
91June 25, 2015
16:30-18:00
N/A Long-Run Development and Economic Mobility3
71June 25, 2015
16:30-18:00
N/A Macro Effects of Household Debt3
87June 26, 2015
9:30-11:00
N/A International Trade3
66June 26, 2015
9:30-11:00
N/A Policy in Debt Crises3
62June 26, 2015
9:30-11:00
N/A Economics of Innovation and Growth3
30June 26, 2015
9:30-11:00
N/A Pricing Models: Micro Evidence3
8June 26, 2015
9:30-11:00
N/A Information in Financial Markets3
105June 26, 2015
9:30-11:00
N/A Occupational Choice and Wages3
132June 26, 2015
9:30-11:00
N/A Fiscal Policy with Heterogeneous Agents3
55June 26, 2015
9:30-11:00
N/A Optimal Contracting, Taxation and Human Capital3
111June 26, 2015
9:30-11:00
N/A Asset Pricing3
141June 26, 2015
9:30-11:00
N/A Frictions and Pricing3
65June 26, 2015
9:30-11:00
N/A Information and Enforcement in Credit Markets3
146June 26, 2015
9:30-11:00
N/A Macro Models: Asset Pricing and Policy3
89June 26, 2015
11:30-13:00
N/A International Trade and Growth3
127June 26, 2015
11:30-13:00
N/A Firms in Developing Countries3
63June 26, 2015
11:30-13:00
N/A Estimating Earnings Risk over the Life Cycle3
83June 26, 2015
11:30-13:00
N/A Household Finance and Banking3
85June 26, 2015
11:30-13:00
N/A Advances in Computation in Macro3
6June 26, 2015
11:30-13:00
N/A Retail pricing in frictional markets3
119June 26, 2015
11:30-13:00
N/A Financial Frictions and Asset Prices3
138June 26, 2015
11:30-13:00
N/A Optimal Tax Policy3
97June 26, 2015
11:30-13:00
N/A Leo Hurwicz Special Session (1)3
137June 26, 2015
11:30-13:00
N/A Monetary Policy3
12June 26, 2015
11:30-13:00
N/A Monetary Economics3
79June 26, 2015
11:30-13:00
N/A Information, Coordination and Business Cycles3
152June 26, 2015
14:30-16:00
N/A International Macro: Liquidity3
90June 26, 2015
14:30-16:00
N/A Macroeconomic Fluctuations and Policies3
14June 26, 2015
14:30-16:00
N/A Uncertainty and Heterogeneous Beliefs 3
100June 26, 2015
14:30-16:00
N/A Employment and Wages3
101June 26, 2015
14:30-16:00
N/A Migration and the Macroeconomy3
120June 26, 2015
14:30-16:00
N/A Firm Dynamics and Financial Frictions3
136June 26, 2015
14:30-16:00
N/A Search in Product Markets3
147June 26, 2015
14:30-16:00
N/A Fiscal Policy3
92June 26, 2015
14:30-16:00
N/A Networks and Counterparty Risk: Theory and Empirics3
3June 26, 2015
14:30-16:00
N/A Household Credit3
29June 26, 2015
14:30-16:00
N/A Advances in Political Economy3
75June 26, 2015
14:30-16:00
N/A Advances in Open Macroeconomics and Finance3
77June 26, 2015
16:30-18:00
N/A International Trade, Growth and Development3
76June 26, 2015
16:30-18:00
N/A Empirical International Finance3
153June 26, 2015
16:30-18:00
N/A Technology and Productivity3
46June 26, 2015
16:30-18:00
N/A Asymmetric information3
69June 26, 2015
16:30-18:00
N/A Financial Markets and the Macroeconomy presented by Narodowy Bank Polski3
102June 26, 2015
16:30-18:00
N/A Understanding Wealth Inequality3
104June 26, 2015
16:30-18:00
N/A Labor Markets and Employment3
109June 26, 2015
16:30-18:00
N/A Prices: Theories and Evidence3
134June 26, 2015
16:30-18:00
N/A Firm Dynamics and the Business Cycle 23
82June 26, 2015
16:30-18:00
N/A Trade, Skill Demand, and Income Inequality3
126June 26, 2015
16:30-18:00
N/A Political Economy3
31June 26, 2015
16:30-18:00
N/A Macroeconomic Effects of Illiquid Housing3
128June 27, 2015
9:30-11:00
N/A Understanding Exporters3
112June 27, 2015
9:30-11:00
N/A Exchange Rates and the Macroeconomy3
54June 27, 2015
9:30-11:00
N/A Firm Dynamics and Growth3
39June 27, 2015
9:30-11:00
N/A Costly Price Adjustment: New Data and New Approaches3
73June 27, 2015
9:30-11:00
N/A Stimulus and the Macroeconomy3
106June 27, 2015
9:30-11:00
N/A New Approaches to the Analysis of Labor Market Data3
113June 27, 2015
9:30-11:00
N/A Micro Shocks and Macro Fluctuations3
78June 27, 2015
9:30-11:00
N/A Recent Advances on Factor Shares and Inequality3
108June 27, 2015
9:30-11:00
N/A Cycles and Multiplicity3
148June 27, 2015
9:30-11:00
N/A Inattention and Heterogeneous Beliefs3
118June 27, 2015
9:30-11:00
N/A Bank Runs3
110June 27, 2015
9:30-11:00
N/A Production Networks3
88June 27, 2015
11:30-13:00
N/A International Trade: Linkages3
41June 27, 2015
11:30-13:00
N/A Economics of Public and Private Debt 3
123June 27, 2015
11:30-13:00
N/A Misallocation3
99June 27, 2015
11:30-13:00
N/A Macroeconomics at the Zero Lower Bound3
68June 27, 2015
11:30-13:00
N/A Models of Beliefs3
72June 27, 2015
11:30-13:00
N/A Macro Dynamics and Intermediation3
80June 27, 2015
11:30-13:00
N/A Family Micro and Macro3
117June 27, 2015
11:30-13:00
N/A Empirics of Labor Markets3
11June 27, 2015
11:30-13:00
N/A New Theories of Business Cycles3
124June 27, 2015
11:30-13:00
N/A Structural Change3
98June 27, 2015
11:30-13:00
N/A Leo Hurwicz Special Session (2)3
86June 27, 2015
11:30-13:00
N/A Intermediation3
121June 27, 2015
14:30-16:00
N/A Innovation in the Global Economy 23
133June 27, 2015
14:30-16:00
N/A Leveraging and Deleveraging3
38June 27, 2015
14:30-16:00
N/A Risk Sharing in Developing Countries3
107June 27, 2015
14:30-16:00
N/A Wages and Employment3
142June 27, 2015
14:30-16:00
N/A Distributional Implications of Policy3
151June 27, 2015
14:30-16:00
N/A Empirical Analyses of Fiscal Policy3
81June 27, 2015
14:30-16:00
N/A Long-Run Economic Growth and Development3
60June 27, 2015
14:30-16:00
N/A Financial Intermediation3
149June 27, 2015
14:30-16:00
N/A Housing Perspectives3
10June 27, 2015
14:30-16:00
N/A Endogenous uncertainty3
96June 27, 2015
14:30-16:00
N/A Heterogeneity and Monetary Policy3
67June 27, 2015
14:30-16:00
N/A Monetary Economics3
26June 27, 2015
16:30-18:00
N/A Trade, Infrastructure and Economic Development3
13June 27, 2015
16:30-18:00
N/A Collateral and Safety3
145June 27, 2015
16:30-18:00
N/A Productivity, Innovation and Growth3
139June 27, 2015
16:30-18:00
N/A Monetary Policy: Theory and Evidence3
84June 27, 2015
16:30-18:00
N/A Expectations in Macroeconomics3
103June 27, 2015
16:30-18:00
N/A New Theories of Inequality3
1June 27, 2015
16:30-18:00
N/A Macroeconomics across Time and Space3
36June 27, 2015
16:30-18:00
N/A Regulatory Constraints on Financial Intermediation3
47June 27, 2015
16:30-18:00
N/A Labor flows and wage dynamics3
143June 27, 2015
16:30-18:00
N/A Methodological Advances3
122June 27, 2015
16:30-18:00
N/A Management Matters3
140June 27, 2015
16:30-18:00
N/A Consumption and Income Risk3
 

144 sessions, 432 papers, and 0 presentations with no associated papers


 

Society for Economic Dynamics Annual Meeting 2015

Detailed List of Sessions

 
Session ID 40: Exporter and Importer Matches in International Trade
June 25, 2015 9:30 to 11:00
 
Session Chair: Swati Dhingra, London School of Economics
 

Production Networks, Geography and Firm Performance
By Andrew Bernard; Dartmouth College
Andreas Moxnes; Dartmouth College
Yukiko Saito; RIEITI
   Presented by: Andreas Moxnes, Dartmouth College
 

A Search and Learning Model of Export Dynamics
By Jonathan Eaton; Brown University
Marcela Eslava; Universidad de Los Andes
David Jinkins; Copenhagen Business School
C. Krizan; U.S. Bureau of the Census
James Tybout; Pennsylvania State University
   Presented by: Jonathan Eaton, Brown University
 

Contracting and the Division of the Gains from Trade
By Andrew Bernard; Dartmouth College
Swati Dhingra; London School of Economics
   Presented by: Swati Dhingra, London School of Economics
 
Session ID 5: Multiple Equilibria and Financial Crises
June 25, 2015 9:30 to 11:00
 
Session Chair: Javier Bianchi, Federal Reserve Bank of Minneapolis
 

Stagnation Traps
By Gianluca Benigno; London School of Economics
Luca Fornaro; CREI
   Presented by: Luca Fornaro, CREI
 

Sovereign Default: The Role of Expectations
By Joao Ayres; University of Minnesota
Gaston Navarro; New York University
Juan Nicolini; Federal Reserve Bank of Minneapolis
Pedro Teles; Banco de Portugal, Universidade Catolica
   Presented by: Pedro Teles, Banco de Portugal, Universidade Catolica
 

Self-Fulfilling Unemployment Crises
By Javier Bianchi; Federal Reserve Bank of Minneapolis
   Presented by: Javier Bianchi, Federal Reserve Bank of Minneapolis
 
Session ID 7: Search theory and applications
June 25, 2015 9:30 to 11:00
 
Session Chair: Susan Vroman, Georgetown University
 

Who Works for Whom? Worker Sorting in a Model of Entrepreneurship with Heterogeneous Labor Markets
By Emin Dinlersoz; U.S. Census Bureau
Henry Hyatt; US Census Bureau
Hubert Janicki; U.S. Census Bureau
   Presented by: Hubert Janicki, U.S. Census Bureau
 

Worker Mobility in a Search Model with Adverse Selection
By Carlos Carrillo-Tudela; Essex
Leo Kaas; University of Konstanz
   Presented by: Leo Kaas, University of Konstanz
 

Directed Search with Phantom Vacancies
By Susan Vroman; Georgetown University
   Presented by: Susan Vroman, Georgetown University
 
Session ID 52: Understanding Aggregate Demand Shortages
June 25, 2015 9:30 to 11:00
 
Session Chair: Alp Simsek, Massachusetts Institute of Technology
 

Dynamic Debt Deleveraging and Optimal Monetary Policy
By Pierpaolo Benigno; LUISS
Gauti Eggertsson; Brown University
Federica Romei; European University Institute
   Presented by: Pierpaolo Benigno, LUISS
 

Reconciling Hayek’s and Keynes’ views of recessions
By Paul Beaudry; University of British Columbia
Dana Galizia; University of British Columbia
Franck Portier; Toulouse School of Economics
   Presented by: Franck Portier, Toulouse School of Economics
 

Investment Hangover and the Great Recession
By Matthew Rognlie; Massachusetts Institute of Technology
Andrei Shleifer; Harvard University
Alp Simsek; Massachusetts Institute of Technology
   Presented by: Alp Simsek, Massachusetts Institute of Technology
 
Session ID 23: Taxation and Social Insurance
June 25, 2015 9:30 to 11:00
 
Session Chair: Alisdair McKay, Boston University
 

Optimal Capital and Progressive Labor Income Taxation with Endogenous Schooling Decisions and Intergenerational Transfers
By Dirk Krueger; University of Pennsylvania
Alexander Ludwig; Goethe University Frankfurt
   Presented by: Alexander Ludwig, Goethe University Frankfurt
 

Rethinking the Welfare State
By Nezih Guner; Universitat Autonoma de Barcelona
   Presented by: Nezih Guner, Universitat Autonoma de Barcelona
 

Optimal Automatic Stabilizers
By Alisdair McKay; Boston University
Ricardo Reis; Columbia University
   Presented by: Alisdair McKay, Boston University
 
Session ID 130: Unemployment and Fluctuations
June 25, 2015 9:30 to 11:00
 
Session Chair: Zeno Enders, University of Heidelberg
 

Bank Capital, Bank Credit and Unemployment
By Jason Donaldson; Washington University in St Louis
Giorgia Piacentino; Olin Business School at Washington University in St Louis
Anjan Thakor; olin school of business
   Presented by: Jason Donaldson, Washington University in St Louis
 

Growth expectations, undue optimism, and short-run fluctuations
By Zeno Enders; University of Heidelberg
Michael Kleemann; Deutsche Bundesbank
Gernot Mueller; University of Bonn
   Presented by: Zeno Enders, University of Heidelberg
 

Land Prices and Unemployment
By Zheng Liu; Federal Reserve Bank of San Francisco
Jianjun Miao; Boston University
Tao Zha; Federal Reserve Bank of Atlanta
   Presented by: Zheng Liu, Federal Reserve Bank of San Francisco
 
Session ID 37: Development economics
June 25, 2015 9:30 to 11:00
 
Session Chair: Alexander Karaivanov, Simon Fraser University
 

The Development Impact of Financial Regulation: Evidence from Ethiopia and Antebellum USA
By Nicola Limodio; London School of Economics
   Presented by: Nicola Limodio, London School of Economics
 

Urbanization and Economic Development: A Tale of Two Barriers
By Eric Bond; Vanderbilt University
Raymond Riezman; University of Iowa
Ping Wang; Washington University in St. Louis
   Presented by: Ping Wang, Washington University in St. Louis
 

Bogus Joint Liability Groups in Microfinance -- Theory and Evidence from China
By Alexander Karaivanov; Simon Fraser University
Xiaochuan Xing; Tsinghua University
Yi Xue; University of International Business and Economics
   Presented by: Alexander Karaivanov, Simon Fraser University
 
Session ID 59: Enforcement of Debt Contracts
June 25, 2015 9:30 to 11:00
 
Session Chair: Natalia Kovrijnykh, Arizona State University
 

An Equilibrium Model of the Timing of Bankruptcy Filings
By Satyajit Chatterjee; Federal Reserve Bank of Philadelphia
   Presented by: Satyajit Chatterjee, Federal Reserve Bank of Philadelphia
 

Optimal Sovereign Debt Policy with Private Trading: Explaining Allocation Puzzle
By Yena Park; University of Rochester
   Presented by: Yena Park, University of Rochester
 

Screening as a Unified Theory of Delinquency, Renegotiation, and Bankruptcy
By Natalia Kovrijnykh; Arizona State University
Igor Livshits; University of Western Ontario
   Presented by: Natalia Kovrijnykh, Arizona State University
 
Session ID 2: Education Policy and Human Capital Accumulation
June 25, 2015 9:30 to 11:00
 
Session Chair: Nirav Mehta, University of Western Ontario
 

Human Capital Spillovers and the Geography of Intergenerational Mobility
By Giovanni Gallipoli; UBC
Brant Abbott; Yale University
   Presented by: Giovanni Gallipoli, UBC
 

Family Background, Academic Ability, and College Decisions in the 20th Century U.S.
By Lutz Hendricks; UNC Chapel Hill
Christopher Herrington; Virginia Commonwealth University
Todd Schoellman; Arizona State University
   Presented by: Todd Schoellman, Arizona State University
 

How social interactions determine input choices and outcomes in equilibrium: Evidence from a model of study time and academic achievement
By Timothy Conley; Western Ontario
Nirav Mehta; University of Western Ontario
Ralph Stinebrickner
Todd Stinebrickner; University of Western Ontario and NBER
   Presented by: Nirav Mehta, University of Western Ontario
 
Session ID 70: Future of Monetary Unions presented by Narodowy Bank Polski
June 25, 2015 9:30 to 11:00
 
Session Chair: Marzie Sanjani, International Monetary Fund
 

Coordination and Crisis in Monetary Unions
By Mark Aguiar; Princeton University
Manuel Amador; Federal Reserve Bank of Minneapolis
Emmanuel Farhi; Harvard University
Gita Gopinath; Harvard
   Presented by: Manuel Amador, Federal Reserve Bank of Minneapolis
 

Financial Heterogeneity and Monetary Union
By Simon Gilchrist; Boston University
Raphael Schoenle; Brandeis University
jae sim; Federal Reserve Board
Egon Zakrajsek; Federal Reserve Board
   Presented by: jae sim, Federal Reserve Board
 

Incorporating Financial Cycles in Output Gap Measures: Estimates for the Euro Area
By Marzie Sanjani; International Monetary Fund
Pau Rabanal; IMF
   Presented by: Marzie Sanjani, International Monetary Fund
 
Session ID 9: Housing
June 25, 2015 9:30 to 11:00
 
Session Chair: Charles Nathanson, Kellogg School of Management, Northweste
 

How Do Foreclosures Exacerbate Housing Downturns?
By Adam Guren; Boston University
Timothy McQuade; Stanford University
   Presented by: Timothy McQuade, Stanford University
 

On the Limits of Macroprudential Policy
By Marcin Kolasa; Narodowy Bank Polski and Warsaw School of Economics
   Presented by: Marcin Kolasa, Narodowy Bank Polski and Warsaw School o
 

An Extrapolative Model of House Price Dynamics
By Edward Glaeser; Harvard University
Charles Nathanson; Kellogg School of Management, Northweste
   Presented by: Charles Nathanson, Kellogg School of Management, Northweste
 
Session ID 114: Dispersed Information
June 25, 2015 9:30 to 11:00
 
Session Chair: Ryan Chahrour, Boston College and Toulouse School of Ec
 

Learning-by-Sharing: Monetary Policy and the Information Content of Public Signals
By Alexandre Kohlhas; Stockholm University
   Presented by: Alexandre Kohlhas, Stockholm University Institute for International Economic Studies
 

The Social Value of Information in a Business-Cycle Model
By George-Marios Angeletos; M.I.T.
Luigi Iovino; Bocconi University
Jennifer La'O; Columbia University
   Presented by: Luigi Iovino, Bocconi University
 

Intersectoral Linkages, Diverse Information, and Aggregate Dynamics in a Neoclassical Model
By Manoj Atolia; Florida State University
Ryan Chahrour; Boston College and Toulouse School of Ec
   Presented by: Ryan Chahrour, Boston College and Toulouse School of Ec
 
Session ID 94: International Trade and Banking
June 25, 2015 11:30 to 13:00
 
Session Chair: Pablo D'Erasmo, FRB Philadelphia
 

Comparative Advantage and Specialization in Bank Lending
By Daniel Paravisini; LSE
Veronica Rappoport; London School of Economics
Philipp Schnabl; NYU Stern
   Presented by: Veronica Rappoport, London School of Economics
 

Multinational Banks
By Jose Fillat; Federal Reserve Bank of Boston
Stefania Garetto; Boston University
Martin Goetz; Goethe University, Frankfurt am Main
   Presented by: Stefania Garetto, Boston University
 

Foreign Competition and Banking Industry Dynamics
By Pablo D'Erasmo; FRB Philadelphia
Dean Corbae; University of Wisconsin
   Presented by: Pablo D'Erasmo, FRB Philadelphia
 
Session ID 43: International Capital Flows
June 25, 2015 11:30 to 13:00
 
Session Chair: Paulina Restrepo-Echavarria, Federal Reserve Bank of St Louis
 

Import Competition and the Cost of Capital
By Jean-Noel Barrot; MIT Sloan School of Management
Erik Loualiche; MIT Sloan School of Management
julien sauvagnat; Toulouse School of Economics (TSE)
   Presented by: Erik Loualiche, MIT Sloan School of Management
 

Asset prices and creation in a global economy
By Keyu Jin; London School of Economics
Shengxing Zhang; London School of Economics
   Presented by: Keyu Jin, London School of Economics
 

Bad Investments and Missed Opportunities? Capital Flows to Asia and Latin America, 1950-2007
By Lee Ohanian; University of California Los Angeles
Paulina Restrepo-Echavarria; Federal Reserve Bank of St Louis and The
Mark Wright; Federal Reserve Bank of Chicago
   Presented by: Paulina Restrepo-Echavarria, Federal Reserve Bank of St Louis
 
Session ID 19: Unconventional Monetary Policy
June 25, 2015 11:30 to 13:00
 
Session Chair: Marc Giannoni, Federal Reserve Bank of New York
 

Capital Controls as an Instrument of Monetary Policy
By Scott Davis; Federal Reserve Bank of Dallas
Ignacio Presno; Universidad de Montevideo
   Presented by: Ignacio Presno, Universidad de Montevideo
 

Lift-off Uncertainty: What Can We Infer From the FOMC's Summary of Economic Projections?
By Tiago Berriel; PUC-Rio
Carlos Carvalho; PUC-Rio
Octavio Portolano Machado; PUC-Rio
   Presented by: Octavio Portolano Machado, PUC-Rio
 

The Forward Guidance Puzzle
By Marco Del Negro; Federal Reserve Bank of New York
Marc Giannoni; Federal Reserve Bank of New York
Christina Patterson; MIT
   Presented by: Marc Giannoni, Federal Reserve Bank of New York
 
Session ID 27: Household Finance: Consumer Bankruptcy
June 25, 2015 11:30 to 13:00
 
Session Chair: Jaromir Nosal, Columbia University
 

The Impact of Consumer Credit Constraints on Earnings, Sorting, and Job Finding Rates of Displaced Workers
By Kyle Herkenhoff; UCLA
   Presented by: Kyle Herkenhoff, UCLA
 

Expectation Formation
By Theresa Kuchler; NYU Stern School of Business
Basit Zafar; Federal Reserve Bank of New York
   Presented by: Theresa Kuchler, NYU Stern School of Business
 

Segmentation of Information and the Credit Market
By Manolis Galenianos; Royal Holloway, University of London
Jaromir Nosal; Columbia University
   Presented by: Jaromir Nosal, Columbia University
 
Session ID 34: Labor markets and asset markets
June 25, 2015 11:30 to 13:00
 
Session Chair: Jaroslav Borovicka, New York University
 

Financial Frictions, the Housing Market, and Unemployment
By Nicolas Petrosky-Nadeau; Carnegie Mellon University
   Presented by: Nicolas Petrosky-Nadeau, Carnegie Mellon University
 

What Shifts the Beveridge Curve? Recruiting Intensity and Financial Shocks
By Alessandro Gavazza; London School of Economics
Simon Mongey; NYU
Gianluca Violante; NYU
   Presented by: Simon Mongey, NYU
 

Discount rates and employment fluctuations
By Jaroslav Borovicka; New York University
Katarina Borovickova; New York University
   Presented by: Jaroslav Borovicka, New York University
 
Session ID 115: Uncertainty in Macroeconomics
June 25, 2015 11:30 to 13:00
 
Session Chair: Matteo Cacciatore, HEC Montreal
 

Black Swans and the Many Shades of Uncertainty
By Nicholas Kozeniauskas; New York University
Anna Orlik; Federal Reserve Board of Governors
Laura Veldkamp; NYU Stern
   Presented by: Anna Orlik, Federal Reserve Board of Governors
 

Endogenous Uncertainty and Credit Crunches
By Ludwig Straub; MIT
Robert Ulbricht; Toulouse School of Economics
   Presented by: Robert Ulbricht, Toulouse School of Economics
 

Uncertainty and the Business Cycle
By Matteo Cacciatore; HEC Montreal
   Presented by: Matteo Cacciatore, HEC Montreal
 
Session ID 28: Inequality and Optimal Policy
June 25, 2015 11:30 to 13:00
 
Session Chair: Florian Scheuer, Stanford University
 

The Optimal Timing of Unemployment Benefits: Theory and Evidence from Sweden
By Camille Landais; London school of economics
Peter Nilsson; Stockholm University
Johannes Spinnewijn; London School of Economics
   Presented by: Johannes Spinnewijn, London School of Economics
 

The Optimum Quantity of Capital and Debt
By Marcus Hagedorn; University of Oslo
Hans Holter; University of Oslo
Yikai Wang; University of Oslo
   Presented by: Marcus Hagedorn, University of Oslo
 

Taxing Superstars
By Florian Scheuer; Stanford University
Ivan Werning; Massachusetts Institute of Technology
   Presented by: Florian Scheuer, Stanford University
 
Session ID 35: Asset returns and the real economy
June 25, 2015 11:30 to 13:00
 
Session Chair: Anna Cieslak, Northwestern University
 

Macro-Finance Separation by Force of Habit
By Pierlauro Lopez; Banque de France
J. David Lopez-Salido; Federal Reserve Board
Francisco Vazquez-Grande; Federal Reserve Board
   Presented by: Pierlauro Lopez, Banque de France
 

Stochastic Idiosyncratic Operating Risk and Real Options: Implications for Stock Returns
By Harjoat Bhamra; Imperial College Business School
Kyung Shim; University of New South Wales
   Presented by: Harjoat Bhamra, Imperial College Business School
 

Stock returns over the FOMC cycle
By Anna Cieslak; Northwestern University
Adair Morse; University of California at Berkeley
Annette Vissing-Jorgensen; University of California at Berkeley
   Presented by: Anna Cieslak, Northwestern University
 
Session ID 131: Search in Labor Markets
June 25, 2015 11:30 to 13:00
 
Session Chair: Nellie Zhao, Cornell University
 

Search Capital
By Eric Smith; University of Essex
   Presented by: Eric Smith, University of Essex
 

Does Searching Broader Improve Job Prospects? A Field Experiment
By Michele Belot; University of Edinburgh
Philipp Kircher; University of Edinburgh
Paul Muller; VU
   Presented by: Philipp Kircher, University of Edinburgh
 

The U.S. Job Ladder in the New Millennium
By Isabel Cairo; Board of Governors of the Federal Reserve System
Henry Hyatt; US Census Bureau
Nellie Zhao; Cornell University
   Presented by: Nellie Zhao, Cornell University
 
Session ID 58: Parental Investment
June 25, 2015 11:30 to 13:00
 
Session Chair: Joseph Mullins, NYU
 

The Political Economy of Early and College Education - Can Voting Bend the Great Gatsby Curve?
By Christopher Rauh; University of Cambridge
   Presented by: Christopher Rauh, University of Cambridge
 

Parental Time Investment and Human Capital Formation: A Quantitative Analysis of Intergenerational Mobility
By Minchul Yum; Ohio State University
   Presented by: Minchul Yum, Ohio State University
 

Family Law Effects on Divorce, Fertility and Child Investment
By Meta Brown; Federal Reserve Bank of New York
Christopher Flinn; New York University
Joseph Mullins; NYU
   Presented by: Joseph Mullins, NYU
 
Session ID 150: Firms: Trends and Frictions
June 25, 2015 11:30 to 13:00
 
Session Chair: Timothy Kehoe, University of Minnesota
 

Wage Dispersion, Job Creation and Development: Evidence from Sub-Saharan Africa
By Juan Pablo Rud; Royal Holloway, University of London
Ija Trapeznikova; Royal Holloway, University of London
   Presented by: Juan Pablo Rud, Royal Holloway, University of London
 

Understanding the 30 year Decline in Business Dynamism: a General Equilibrium Approach
By Fatih Karahan; Federal Reserve Bank of New York
Benjamin Pugsley; Federal Reserve Bank of New York
Aysegul Sahin; Federal Reserve Bank of New York
   Presented by: Aysegul Sahin, Federal Reserve Bank of New York
 

The Interaction of Entry Barriers and Financial Frictions in Growth
By Jose Asturias; Georgetown University
Sewon Hur; University of Pittsburgh
Timothy Kehoe; University of Minnesota
Kim Ruhl; New York University Stern School of Busi
   Presented by: Timothy Kehoe, University of Minnesota
 
Session ID 33: Consumer Credit and Portfolio Choices
June 25, 2015 11:30 to 13:00
 
Session Chair: Kartik Athreya, Federal Reserve Bank of Richmond
 

Wealth and Stock Market Participation: Estimating the Causal E ect From Swedish Lotteries
By Joseph Briggs; New York University
David Cesarini; New York University
Erik Lindqvist; Stockholm School of Economics
Robert Ostling; Stockholm University
   Presented by: Joseph Briggs, New York University
 

Aggregate and Distributional Dynamics of Consumer Credit in the U. S.
By Carlos Garriga; Federal Reserve Bank of St. Louis
Bryan Noeth; Federal Reserve Bank of St Louis
Don Schlagenhauf; Florida State University
   Presented by: Don Schlagenhauf, Florida State University
 

Learn Now, Save Later: College and Household Portfolios
By Kartik Athreya; Federal Reserve Bank of Richmond
Felicia Ionescu; Federal Reserve Board
Urvi Neelakantan; Federal Reserve Bank of Richmond
   Presented by: Kartik Athreya, Federal Reserve Bank of Richmond
 
Session ID 42: Innovation in the Global Economy
June 25, 2015 14:30 to 16:00
 
Session Chair: Ellen McGrattan, University of Minnesota
 

Innovation and Production in the Global Economy
By Natalia Ramondo; UCSD
   Presented by: Natalia Ramondo, UCSD
 

The Impact of Innovation in the Multinational Firm
By Kamran Bilir; University of Wisconsin - Madison
Eduardo Morales; Princeton University
   Presented by: Kamran Bilir, University of Wisconsin - Madison
 

Innovation and Productivity
By Ellen McGrattan; University of Minnesota
   Presented by: Ellen McGrattan, University of Minnesota
 
Session ID 44: Sovereign Debt and Default: Theory and Evidence
June 25, 2015 14:30 to 16:00
 
Session Chair: Leonardo Martinez, International Monetary Fund
 

Sovereign Debt Renegotiation and Credit Default Swaps
By Juliana Salomao; University of Minnesota
   Presented by: Juliana Salomao, University of Minnesota
 

A Pecking Order Theory of Sovereign Default
By Matthias Schlegl; University of Munich
Christoph Trebesch; University of Munich
Mark Wright; Federal Reserve Bank of Chicago
   Presented by: Mark Wright, Federal Reserve Bank of Chicago
 

Fiscal rules and the sovereign default premium
By Juan Hatchondo; Indiana University
Leonardo Martinez; International Monetary Fund
Francisco Roch; International Monetary Fund
   Presented by: Leonardo Martinez, International Monetary Fund
 
Session ID 16: Time series econometrics in Macroeconomics
June 25, 2015 14:30 to 16:00
 
Session Chair: Bartosz Mackowiak, European Central Bank
 

Measuring the Non-Linear Effects of Monetary Policy
By Regis Barnichon; CREI
Christian Matthes; Federal Reserve Bank of Richmond
   Presented by: Christian Matthes, Federal Reserve Bank of Richmond
 

The Long-Run Phillips Curve: A Structural VAR Investigation
By Luca Benati; University of Bern
   Presented by: Luca Benati, University of Bern
 

Granger-Causal-Priority and Choice of Variables in Vector Autoregressions
By Bartosz Mackowiak; European Central Bank
   Presented by: Bartosz Mackowiak, European Central Bank
 
Session ID 24: Heterogeneity and Business Cycles
June 25, 2015 14:30 to 16:00
 
Session Chair: Erik Öberg, Stockholm University
 

Credit, Bankruptcy, and Aggregate Fluctuations
By Makoto Nakajima; Federal Reserve Bank of Philadelphia
   Presented by: Makoto Nakajima, Federal Reserve Bank of Philadelphia
 

Higher-Order Income Risk and Social Insurance Policy Over the Business Cycle
By Christopher Busch; University of Cologne
David Domeij; Stockholm School of Economics
Fatih Guvenen; University of Minnesota
Rocio Madera; University of Minnesota
   Presented by: Rocio Madera, University of Minnesota
 

The New Keynesian Transmission Channel
By Erik Öberg; Stockholm University
Niels-Jakob Hansen
Tobias Broer; Stockholm University
Per Krusell; Stockholm University
   Presented by: Erik Öberg, Stockholm University
 
Session ID 95: Mortgages
June 25, 2015 14:30 to 16:00
 
Session Chair: Alejandro Justiniano, Federal Reerve Chicago
 

Reverse Mortgage Design
By Joao Cocco; London Business School
Paula Lopes; London School of Economics
   Presented by: Joao Cocco, London Business School
 

Phasing out the GSEs
By Vadim Elenev; NYU Stern
Tim Landvoigt; UT Austin
Stijn Van Nieuwerburgh; NYU Stern School of Business
   Presented by: Stijn Van Nieuwerburgh, NYU Stern School of Business
 

What Happened to Mortgage Interest Rates During the Boom?
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
 
Session ID 144: Information, Disagreement and Coordination
June 25, 2015 14:30 to 16:00
 
Session Chair: Zhen Zhou, New York University
 

Information Spillovers in Asset Markets with Correlated Values
By Vladimir Asriyan; CREi, UPF, and Barcelona GSE
   Presented by: Vladimir Asriyan, CREi, UPF, and Barcelona GSE
 

Disagreement, information and welfare
By Jernej Copic; UCLA
   Presented by: Jernej Copic, UCLA
 

Diffusing Coordination Risk
By Deepal Basak; NYU
Zhen Zhou; New York University
   Presented by: Zhen Zhou, New York University
 
Session ID 4: Advances in Macro-Finance
June 25, 2015 14:30 to 16:00
 
Session Chair: Enrique Mendoza, University of Pennsylvania
 

Bank Liabilities Channel
By Vincenzo Quadrini; USC
   Presented by: Vincenzo Quadrini, USC
 

Payments, Credit and Asset Prices
By Monika Piazzesi; Stanford University
Martin Schneider; Stanford University
   Presented by: Monika Piazzesi, Stanford University
 

Optimal Time-Consistent Macroprudential Policy
By Javier Bianchi; Federal Reserve Bank of Minneapolis
Enrique Mendoza; University of Pennsylvania
   Presented by: Enrique Mendoza, University of Pennsylvania
 
Session ID 49: Issues in Taxation
June 25, 2015 14:30 to 16:00
 
Session Chair: Marek Kapicka, CERGE-EI
 

Pareto-Improving Optimal Capital and Labor Taxes
By Katharina Greulich; Swiss Re
Sarolta Laczo; Bank of England and IAE-CSIC
Albert Marcet; IAE-CSIC, ICREA, UAB, MOVE, Barcelona GSE, and CEPR
   Presented by: Sarolta Laczo, Bank of England and IAE-CSIC
 

Optimal time-consistent taxation with default
By Anastasios Karantounias; Federal Reserve Bank of Atlanta
Karen Kopecky; Federal Reserve Bank of Atlanta
   Presented by: Anastasios Karantounias, Federal Reserve Bank of Atlanta
 

Pareto Efficient Taxation with Learning by Doing
By Marek Kapicka; University of California Santa Barbara
   Presented by: Marek Kapicka, CERGE-EI
 
Session ID 61: Search and Matching in OTC markets
June 25, 2015 14:30 to 16:00
 
Session Chair: Shengxing Zhang, London School of Economics
 

Benchmarks in Search Markets
By Darrell Duffie; Stanford University
Piotr Dworczak; Stanford
Haoxiang Zhu; MIT
   Presented by: Piotr Dworczak, Stanford University
 

Who is at the Core of Financial Networks? The Role of Meeting Technologies
By Maryam Farboodi; Princeton University
Gregor Jarosch; University of Chicago
   Presented by: Gregor Jarosch, University of Chicago
 

Endogenous Market-making and Formation of Trading Links
By Briana Chang; University of Wisconsin Madison
Shengxing Zhang; London School of Economics
   Presented by: Shengxing Zhang, London School of Economics
 
Session ID 25: Geographic Distribution of Economic Activity and the Macroeconomy
June 25, 2015 14:30 to 16:00
 
Session Chair: Pablo Fajgelbaum, UCLA
 

Spatial Business Cycles
By Alessandra Fogli; Minneapolis Federal Reserve Bank
enoch hill; university of minnesota
Fabrizio Perri; University of Minnesota
   Presented by: Alessandra Fogli, Minneapolis Federal Reserve Bank
 

A Quantitative Analysis of Subsidy Competition in the U.S.
By Ralph Ossa; University of Chicago
   Presented by: Ralph Ossa, University of Chicago
 

State Taxes and Spatial Misallocation
By Pablo Fajgelbaum; UCLA
Eduardo Morales; Princeton University
Juan Carlos Serrato
Owen Zidar; University of Chicago
   Presented by: Pablo Fajgelbaum, UCLA
 
Session ID 74: Industry Dynamics
June 25, 2015 14:30 to 16:00
 
Session Chair: Myrto Kalouptsidi, Princeton University
 

Is Dynamic Competition Socially Beneficial? The Case of Price as Investment
By David Besanko; Northwestern University
Ulrich Doraszelski; University of Pennsylvania
Yaroslav Kryukov; Carnegie-Mellon University
   Presented by: Ulrich Doraszelski, University of Pennsylvania
 

Offshoring under Oligopoly
By Mitsuru Igami; Yale University
   Presented by: Mitsuru Igami, Yale University
 

One State, Many Regions: China's Fragmented Industrial Takeover
By Myrto Kalouptsidi; Princeton University
   Presented by: Myrto Kalouptsidi, Princeton University
 
Session ID 125: Human Capital
June 25, 2015 14:30 to 16:00
 
Session Chair: Adam Blandin, Arizona State University
 

AIDS, Human Capital and Development
By Rody Manuelli; Washington University in St. Louis
   Presented by: Rody Manuelli, Washington University in St. Louis
 

Peer Effects in Math and Science
By Juanna Joensen; Stockholm School of Economics
Helena Nielsen; Aarhus University
   Presented by: Juanna Joensen, Stockholm School of Economics
 

Disciplining the Human Capital Model: Learning By Doing, Ben-Porath, and Policy Analysis
By Adam Blandin; Arizona State University
   Presented by: Adam Blandin, Arizona State University
 
Session ID 64: Pass-Through: Theory and Evidence
June 25, 2015 16:30 to 18:00
 
Session Chair: Kanda Naknoi, University of Connecticut
 

Multinational Pricing: Lessons from IKEA
By Anthony Landry; University of Pennsylvania
   Presented by: Anthony Landry, University of Pennsylvania
 

A Tractable Approach to Pass-Through Patterns
By Michal Fabinger; University of Tokyo
E. Weyl; Microsoft Corporation
   Presented by: Michal Fabinger, University of Tokyo
 

Exchange Rate Pass-Through and Market Structure in Multi-Country World
By Kanda Naknoi; University of Connecticut
   Presented by: Kanda Naknoi, University of Connecticut
 
Session ID 56: Innovation and Industry Dynamics
June 25, 2015 16:30 to 18:00
 
Session Chair: Maurizio Iacopetta, OFCE/Sciences Po and SKEMA Business School
 

Who Quits Next? Firm Growth in Growing Economies
By Julieta Caunedo; Cornell University
Emircan Yurdagul; Washington University in Saint Louis
   Presented by: Julieta Caunedo, Cornell University
 

Innovation, Technological Interdependence, and Economic Growth
By Douglas Hanley; University of Pittsburgh
   Presented by: Douglas Hanley, University of Pittsburgh
 

Financial Markets, Industry Dynamics, and Growth
By Maurizio Iacopetta; OFCE/Sciences Po and SKEMA Business School
Raoul Minetti; Michigan State University
Pietro Peretto; Duke University
   Presented by: Maurizio Iacopetta, OFCE/Sciences Po and SKEMA Business School
 
Session ID 21: Macroeconomic Fluctuations
June 25, 2015 16:30 to 18:00
 
Session Chair: Francesco Bianchi, Cornell University
 

The Systematic Component of Monetary Policy in SVARs: An Agnostic Identification Procedure
By Jonas Arias; Federal Reserve Board
Dario Caldara; Federal Reserve Board
Juan Rubio-Ramirez; Duke University
   Presented by: Juan Rubio-Ramirez, Duke University
 

A Model of the Twin Ds: Optimal Default and Devaluation
By Seunghoon Na; Columbia University
Stephanie Schmitt-Grohe; Columbia University
Martin Uribe; Columbia University
Vivian Yue; Emory University
   Presented by: Stephanie Schmitt-Grohe, Columbia University
 

Growth, Slowdowns, and Recoveries
By Francesco Bianchi; Cornell University
Howard Kung; London Business School
   Presented by: Francesco Bianchi, Cornell University
 
Session ID 45: Wealth and Income Inequality
June 25, 2015 16:30 to 18:00
 
Session Chair: Heejeong Kim, Ohio State University
 

Asset Pricing and the One Percent
By Kieran Walsh; University of Virginia Darden School of Business
Alexis Akira Toda; UC San Diego
   Presented by: Kieran Walsh, University of Virginia Darden School of Business
 

Zipf's Law, Pareto's Law, and the Evolution of Top Incomes in the U.S.
By Shuhei Aoki; Hitotsubashi University
Makoto Nirei; Hitotsubashi University
   Presented by: Makoto Nirei, Hitotsubashi University
 

Segmented Asset Markets and the Distribution of Wealth
By Aubhik Khan; Ohio State University
Heejeong Kim; Ohio State University
   Presented by: Heejeong Kim, Ohio State University
 
Session ID 57: Labor Supply
June 25, 2015 16:30 to 18:00
 
Session Chair: Claudia Olivetti, Boston University
 

Hours Worked in the US and Europe: Different Data, Different Answers
By Alexander Bick; Arizona State University
Bettina Brueggemann; Goethe University Frankfurt
Nicola Fuchs-Schündeln; Goethe University Frankfurt /Main
   Presented by: Nicola Fuchs-Schündeln, Goethe University Frankfurt /Main
 

Measuring and Explaining International Differences in Hours Worked
By Alexander Bick; Arizona State University
Nicola Fuchs-Schündeln; Goethe University Frankfurt /Main
David Lagakos; University of California, San Diego
   Presented by: Alexander Bick, Arizona State University
 

Structural Transformation and the U-Shaped Female Labor Supply
By Rachel Ngai; london school of economics
Claudia Olivetti; Boston University
   Presented by: Claudia Olivetti, Boston University
 
Session ID 50: Financial Frictions and Business Cycle Fluctuations
June 25, 2015 16:30 to 18:00
 
Session Chair: Sebastian Dyrda, University of Minnesota
 

Capital Unemployment, Financial Shocks, and Investment Slumps
By Pablo Ottonello; Columbia university
   Presented by: Pablo Ottonello, Columbia university
 

The Optimal Tradeoff Between Consumption Smoothing and Macroprudential Regulation
By Jean Flemming; University of Rome, Tor Vergata
Jean-Paul L'Huillier; Einaudi Institute for Economics and Finance
Facundo Piguillem; EIEF
   Presented by: Jean Flemming, University of Rome, Tor Vergata
 

Fluctuations in uncertainty, efficient borrowing constraints and firm dynamics
By Sebastian Dyrda; University of Minnesota
   Presented by: Sebastian Dyrda, University of Minnesota
 
Session ID 53: Advances in Dynamic Optimal Taxation
June 25, 2015 16:30 to 18:00
 
Session Chair: Stefanie Stantcheva, Harvard University
 

Optimal Income Taxation under Unemployment: A Sufficient Statistics Approach
By Kory Kroft; University of Toronto
Kavan Kucko; Boston University
Etienne Lehmann; University Pantheon Assas Paris II
Johannes Schmieder; Boston University
   Presented by: Etienne Lehmann, University Pantheon Assas Paris II
 

A Variational Approach to the Analysis of Tax Systems
By Mikhail Golosov; Princeton University
Aleh Tsyvinski; Yale University
Nicolas Werquin; Yale University
   Presented by: Nicolas Werquin, Yale University
 

Optimal Taxation and R&D Policies
By Stefanie Stantcheva; Harvard University
   Presented by: Stefanie Stantcheva, Harvard University
 
Session ID 129: Search and Endogenous Liquidity
June 25, 2015 16:30 to 18:00
 
Session Chair: David Rappoport, Federal Reserve Board
 

Endogenously Procyclical Liquidity, Capital Reallocation, and q
By Melanie Cao
Shouyong Shi; Pennsylvania State University
   Presented by: Shouyong Shi, Pennsylvania State University
 

Search-Based Endogenous Illiquidity and the Macroeconomy
By Wei Cui; University College London
Soren Radde; European Central Bank
   Presented by: Wei Cui, University College London
 

Secondary Market Liquidity and the Optimal Capital Structure
By David Arseneau; Federal Reserve Board
David Rappoport; Federal Reserve Board
Alexandros Vardoulakis; Board of Governors of the Federal Reserve System
   Presented by: David Rappoport, Federal Reserve Board
 
Session ID 51: Rational Inattention with Macro Applications
June 25, 2015 16:30 to 18:00
 
Session Chair: Chris Tonetti, Stanford GSB
 

Information Transmission and Rational Inattention
By Antonella Tutino; Federal Reserve Bank of Dallas
   Presented by: Antonella Tutino, Federal Reserve Bank of Dallas
 

Rational Inattention Dynamics: Inertia and Delay in Decision-Making
By Jakub Steiner; Cerge-ei
Colin Stewart; University of Toronto
Filip Matejka; CERGE-EI
   Presented by: Filip Matejka, CERGE-EI
 

Due Diligence: Job Search with Rationally Inattentive Workers
By Joseph Briggs; New York University
Andrew Caplin; New York University
Daniel Martin; Paris School of Economics
Chris Tonetti; Stanford GSB
   Presented by: Chris Tonetti, Stanford GSB
 
Session ID 135: Firms: Partnerships & Reputation
June 25, 2015 16:30 to 18:00
 
Session Chair: Juan Sanchez, Federal Reserve Bank of St. Louis
 

Cooperation Cycles: A theory of endogenous investment shocks
By Dimitris Papanikolaou; Northwestern University
   Presented by: Dimitris Papanikolaou, Northwestern University
 

A Reputational Theory of Firm Dynamics
By Simon Board; University of California - Los Angeles
Moritz Meyer-ter-Vehn; UCLA
   Presented by: Moritz Meyer-ter-Vehn, UCLA
 

Too Big to Cheat: Efficiency and Investment in Partnerships
By Emilio Espino; Universidad Torcuato Di Tella
Julian Kozlowski; NYU
Juan Sanchez; Federal Reserve Bank of St. Louis
   Presented by: Juan Sanchez, Federal Reserve Bank of St. Louis
 
Session ID 91: Long-Run Development and Economic Mobility
June 25, 2015 16:30 to 18:00
 
Session Chair: Michael Peters, Yale University
 

Resetting the Urban Network 117-2012
By Ferdinand Rauch; Oxford
   Presented by: Ferdinand Rauch, Oxford
 

The Dynamics of Development: Entrepreneurship, Innovation, and Reallocation
By Francisco Buera; Federal Reserve Bank of Chicago
Roberto Fattal Jaef; The World Bank
   Presented by: Roberto Fattal Jaef, The World Bank
 

Cheap Industrial Workers and the Big Push: Evidence from Germany's post-war population transfer
By Michael Peters; Yale University
   Presented by: Michael Peters, Yale University
 
Session ID 71: Macro Effects of Household Debt
June 25, 2015 16:30 to 18:00
 
Session Chair: David Berger, Northwestern University
 

Monetary Policy Pass-Through: Household Consumption and Voluntary Deleveraging
By Marco Di Maggio; Columbia
Amir Kermani; UC Berkeley
Rodney Ramcharan; Federal Reserve Board
   Presented by: Amir Kermani, UC Berkeley
 

Monetary Policy and the Redistribution Channel
By Adrien Auclert; MIT
   Presented by: Adrien Auclert, MIT
 

Student Debt and the Life Cycle
By David Berger; Northwestern University
Nicholas Turner; U.S. Department of the Treasury
Eric Zwick; University of Chicago
   Presented by: David Berger, Northwestern University
 
Session ID 87: International Trade
June 26, 2015 9:30 to 11:00
 
Session Chair: Lorenzo Caliendo, Yale University
 

Universal Gravity
By Treb Allen; Northwestern University
Costas Arkolakis; Yale University
   Presented by: Costas Arkolakis, Yale University
 

Trade, Migration and Regional Income Differences: Evidence from China
By Trevor Tombe; University of Calgary
Xiaodong Zhu; University of Toronto
   Presented by: Trevor Tombe, University of Calgary
 

The Impact of Trade on Labor Market Dynamics
By Lorenzo Caliendo; Yale University
Maximiliano Dvorkin; Federal Reserve Bank of St Louis
Fernando Parro; Federal Reserve Board
   Presented by: Lorenzo Caliendo, Yale University
 
Session ID 66: Policy in Debt Crises
June 26, 2015 9:30 to 11:00
 
Session Chair: Jing Zhang, Federal Reserve Bank of Chicago
 

Sovereign Debt, Risk Sharing, and Austerity Programs
By Andreas Mueller; University of Oslo
Kjetil Storesletten; University of Oslo
Fabrizio Zilibotti; University of Zurich
   Presented by: Andreas Mueller, University of Oslo
 

Self-Fulfilling Debt Crises: Can Monetary Policy Really Help?
By Philippe Bacchetta; University of Lausanne
Eric van Wincoop; University of Virginia
   Presented by: Philippe Bacchetta, University of Lausanne
 

Saving Europe?
By Jing Zhang; Federal Reserve Bank of Chicago
   Presented by: Jing Zhang, Federal Reserve Bank of Chicago
 
Session ID 62: Economics of Innovation and Growth
June 26, 2015 9:30 to 11:00
 
Session Chair: Salome Baslandze, UPenn
 

Innovation Allocation, Knowledge Composition and Long-Run Growth
By Jie Cai; University of New South Wales
Nan Li; International Monetary Fund
   Presented by: Nan Li, International Monetary Fund
 

The Role of the IT Revolution in Knowledge Diffusion, Innovation and Reallocation
By Salome Baslandze; UPenn
   Presented by: Salome Baslandze, UPenn
 

Trends and Cycles in China's Macroeconomy
By Kaiji Chen; Emory University
   Presented by: Kaiji Chen, Emory University
 
Session ID 30: Pricing Models: Micro Evidence
June 26, 2015 9:30 to 11:00
 
Session Chair: Etienne Gagnon, Federal Reserve Board
 

On the Importance of Sales for Aggregate Price Flexibility
By Oleksiy Kryvtsov; Bank of Canada
Nicolas Vincent; HEC Montréal
   Presented by: Oleksiy Kryvtsov, Bank of Canada
 

Price Setting Under Uncertainty About Inflation
By Andres Drenik; Stanford
Diego Perez; Stanford
   Presented by: Andres Drenik, Stanford
 

Small Price Responses to Large Demand Shocks
By Etienne Gagnon; Federal Reserve Board
J. David Lopez-Salido; Federal Reserve Board
   Presented by: Etienne Gagnon, Federal Reserve Board
 
Session ID 8: Information in Financial Markets
June 26, 2015 9:30 to 11:00
 
Session Chair: Cecilia Parlatore, New York University, Stern School of Bus
 

Cursed financial innovation
By Peter Kondor; Central European University
Botond Koszegi; Central European University
   Presented by: Peter Kondor, Central European University
 

Intermediaries as Information Aggregators
By Nina Boyarchenko; Federal Reserve Bank of New York
David Lucca; Federal Reserve Bank of New York
Laura Veldkamp; NYU Stern
   Presented by: Laura Veldkamp, NYU Stern
 

Information Asymmetry and Market Fragmentation
By Ana Babus; Chicago FED
Cecilia Parlatore; New York University, Stern School of Bus
   Presented by: Cecilia Parlatore, New York University, Stern School of Bus
 
Session ID 105: Occupational Choice and Wages
June 26, 2015 9:30 to 11:00
 
Session Chair: David Wiczer, FRB St. Louis
 

Occupational Choice and Changes in the Wage Structure
By Nicolas Roys; University of Wisconsin - Madison
Christopher Taber; University of Wisconsin-Madison
   Presented by: Nicolas Roys, University of Wisconsin - Madison
 

CAREER CHOICE AND THE RISK PREMIUM IN THE LABOR MARKET
By German Cubas; University of Houston
Pedro Silos; Federal Reserve Bank of Atlanta
   Presented by: German Cubas, University of Houston
 

Occupational Switching and Self-Discovery in the Labor Market
By Fatih Guvenen; University of Minnesota
Burhanettin Kuruscu; University of Toronto
Satoshi Tanaka; University of Queensland
David Wiczer; FRB St. Louis
   Presented by: David Wiczer, FRB St. Louis
 
Session ID 132: Fiscal Policy with Heterogeneous Agents
June 26, 2015 9:30 to 11:00
 
Session Chair: Christoph Boehm, University of Michigan
 

Fiscal Multipliers in the 21st Century
By Pedro Brinca; European University Institute
Hans Holter; University of Oslo
Per Krusell; Stockholm University
Laurence Malafry; Stockholm University
   Presented by: Pedro Brinca, European University Institute
 

General Equilibrium Effects of Targeted Transfers: The case of EITC
By Maren Froemel; University of Cambridge
Charles Gottlieb; University of Cambridge
   Presented by: Maren Froemel, University of Cambridge
 

Household Balance Sheets, Default, and Fiscal Policy at the Zero Lower Bound
By Christoph Boehm; University of Michigan
   Presented by: Christoph Boehm, University of Michigan
 
Session ID 55: Optimal Contracting, Taxation and Human Capital
June 26, 2015 9:30 to 11:00
 
Session Chair: Carlos da Costa, Fundação Getulio Vargas
 

Human Capital and Optimal Redistribution
By Winfried Koeniger; University of St.Gallen
Julien Prat; CREST
   Presented by: Winfried Koeniger, University of St.Gallen
 

Household Behavior and Optimal Property Division upon Divorce
By Arpad Abraham; European University Institute
Sarolta Laczo; Bank of England and IAE-CSIC
   Presented by: Arpad Abraham, European University Institute
 

Age-dependent taxes with endogenous human capital formation
By Carlos da Costa; Fundação Getulio Vargas
   Presented by: Carlos da Costa, Fundação Getulio Vargas
 
Session ID 111: Asset Pricing
June 26, 2015 9:30 to 11:00
 
Session Chair: Anisha Ghosh, Carnegie Mellon University
 

Asset Pricing with Horizon-Dependent Risk Aversion
By Marianne Andries; Toulouse School of Economics
Thomas Eisenbach; Federal Reserve Bank of New York
Martin Schmalz; University of Michigan
   Presented by: Marianne Andries, Toulouse School of Economics
 

Financial Intermediation and Capital Reallocation
By Hengjie Ai; University of Minnesota
Kai Li; HKUST
Fang Yang; Louisiana State University
   Presented by: Fang Yang, Louisiana State University
 

Asset Pricing with Countercyclical Household Consumption Risk
By George Constantinides; Booth Business School, University of Chicago
Anisha Ghosh; Carnegie Mellon University
   Presented by: Anisha Ghosh, Carnegie Mellon University
 
Session ID 141: Frictions and Pricing
June 26, 2015 9:30 to 11:00
 
Session Chair: Almut Balleer, Institute for International Economic Stu
 

Dynamic Bidding in Second Price Auction
By Hugo A. Hopenhayn; UCLA
Maryam Saeedi; The Ohio State University
   Presented by: Maryam Saeedi, The Ohio State University
 

Screening and Adverse Selection in Frictional Markets
By Benjamin Lester; Federal Reserve Bank of Philadelphia
Ali Shourideh; University of Pennsylavnia
Venky Venkateswaran; New York University
Ariel Zetlin-Jones; Carnegie Mellon University
   Presented by: Ali Shourideh, University of Pennsylavnia
 

Financial Market Imperfections and the Pricing Decision of Firms: Theory and Evidence
By Almut Balleer; Institute for International Economic Stu
Nikolay Hristov; ifo Institute
Dominik Menno; EUI and University of Mannheim
   Presented by: Almut Balleer, Institute for International Economic Stu
 
Session ID 65: Information and Enforcement in Credit Markets
June 26, 2015 9:30 to 11:00
 
Session Chair: Lukasz Drozd, The Wharton School
 

The Economics of Debt Collection: Enforcement of Consumer Credit Contracts
By Viktar Fedaseyeu; Bocconi University
Robert Hunt; Federal Reserve Bank of Philadelphia
   Presented by: Viktar Fedaseyeu, Bocconi University
 

Endogenous Seniority
By Amartya Lahiri; University of British Columbia
Igor Livshits; University of Western Ontario
   Presented by: Igor Livshits, University of Western Ontario
 

Financial Contracting with Enforcement Externalities
By Lukasz Drozd; The Wharton School
Ricardo Serrano-Padial; University of Wisconsin - Madison
   Presented by: Lukasz Drozd, The Wharton School
 
Session ID 146: Macro Models: Asset Pricing and Policy
June 26, 2015 9:30 to 11:00
 
Session Chair: Eric Swanson, University of California, Irvine
 

Lending Efficiency Shocks
By Tao Zha; Federal Reserve Bank of Atlanta
   Presented by: Tao Zha, Federal Reserve Bank of Atlanta
 

Monetary/Fiscal Policy Mix and Asset Prices
By Francesco Bianchi; Cornell University
Howard Kung; London Business School
Gonzalo Morales; University of British Columbia
   Presented by: Gonzalo Morales, University of British Columbia
 

A Macroeconomic Model of Equities and Real, Nominal, and Defaultable Debt
By Eric Swanson; University of California, Irvine
   Presented by: Eric Swanson, University of California, Irvine
 
Session ID 89: International Trade and Growth
June 26, 2015 11:30 to 13:00
 
Session Chair: Mario Larch, University of Bayreuth
 

Factor Accumulation, Specialization, and Long Run Growth in China
By Kei-Mu Yi; Federal Reserve Bank of Minneapolis
Vivian Yue; Federal Reserve Board
Jing Zhang; Federal Reserve Bank of Chicago
   Presented by: Kei-Mu Yi, Federal Reserve Bank of Minneapolis
 

Trade Adjustment Dynamics and the Welfare Gains from Trade
By George Alessandria; University of Rochester
Horag Choi; Monash University
Kim Ruhl; New York University Stern School of Busi
   Presented by: Kim Ruhl, New York University Stern School of Busi
 

Growth and Trade: A Structural Estimation Framework
By James Anderson; Boston College
Mario Larch; University of Bayreuth
Yoto Yotov; Drexel University
   Presented by: Mario Larch, University of Bayreuth
 
Session ID 127: Firms in Developing Countries
June 26, 2015 11:30 to 13:00
 
Session Chair: Jan Grobovsek, University of Edinburgh
 

How Do Electricity Shortages Affect Production? Evidence from India
By Hunt Allcott; NYU
Allan Collard-Wexler; Duke University
Stephen O'Connell; The Graduate Center, CUNY
   Presented by: Allan Collard-Wexler, Duke University
 

Competition and Relational Contracts: Evidence from Rwanda's Coffee Mills
By Ameet Morjaria; Harvard University
Rocco Macchiavello; Warwick University
   Presented by: Ameet Morjaria, Harvard University
 

Communal Land and Agricultural Productivity
By Jan Grobovsek; University of Edinburgh
Charles Gottlieb; University of Cambridge
   Presented by: Jan Grobovsek, University of Edinburgh
 
Session ID 63: Estimating Earnings Risk over the Life Cycle
June 26, 2015 11:30 to 13:00
 
Session Chair: Dmytro Hryshko, University of Alberta
 

What Do Data on Millions of U.S. Workers Reveal about Life-Cycle Earnings Risk?
By Fatih Guvenen; University of Minnesota
Fatih Karahan; Federal Reserve Bank of New York
Serdar Ozkan; University of Toronto
Jae Song; Social Security Administration
   Presented by: Serdar Ozkan, University of Toronto
 

Explaining Cross-Cohort Di fferences in Life Cycle Earnings
By Yu-Chien Kong; University of Iowa
B Ravikumar; Federal Reserve Bank of St Louis
Guillaume Vandenbroucke; Federal Reserve Bank of St Louis
   Presented by: B Ravikumar, Federal Reserve Bank of St Louis
 

Reconciling Estimates of Earnings Processes in Growth Rates and Levels
By Moira Daly; Copenhagen Business School
Dmytro Hryshko; University of Alberta
Iourii Manovskii; University of Pennsylvania
   Presented by: Dmytro Hryshko, University of Alberta
 
Session ID 83: Household Finance and Banking
June 26, 2015 11:30 to 13:00
 
Session Chair: Tomasz Piskorski, Columbia University
 

Deposit Competition and Financial Fragility: Evidence from the US Banking Sector
By Mark Egan; University of Chicago
Ali Hortacsu; University of Chicago
Gregor Matvos; University of Chicago Booth School of Bu
   Presented by: Mark Egan, University of Chicago
 

Age of Decision: Pension Savings Withdrawal and Consumption and Debt Response
By Sumit Agarwal; NUS
   Presented by: Sumit Agarwal, NUS
 

Mortgage Rates, Household Balance Sheets, and the Real Economy
By Benjamin Keys; University of Chicago
Tomasz Piskorski; Columbia University
Amit Seru; University of Chicago
vincent yao; Fannie Mae
   Presented by: Tomasz Piskorski, Columbia University
 
Session ID 85: Advances in Computation in Macro
June 26, 2015 11:30 to 13:00
 
Session Chair: Denny Lie, The University of Sydney
 

Solving OLG Models with Asset Choice
By Michael Reiter; Institute for Advanced Studies
   Presented by: Michael Reiter, Institute for Advanced Studies
 

Envelope Condition Method with an Application to Default Risk Models
By Cristina Arellano; Federal Reserve Bank of Minneapolis
Lilia Maliar; Stanford University
Serguei Maliar; Santa Clara University
Viktor Tsyrennikov; IMF
   Presented by: Serguei Maliar, Santa Clara University
 

Straightforward Approximate Stochastic Equilibria for Nonlinear Rational Expectations Models
By Denny Lie; The University of Sydney
   Presented by: Denny Lie, The University of Sydney
 
Session ID 6: Retail pricing in frictional markets
June 26, 2015 11:30 to 13:00
 
Session Chair: Nicholas Trachter, Federal Reserve Bank of Richmond
 

Prices, Product Differentiation, and Heterogeneous Search Costs
By Jose L. Moraga-Gonzalez; VU University Amsterdam
   Presented by: Jose L. Moraga-Gonzalez, VU University Amsterdam
 

A Search Theory of Retail Market Structure
By Andrew Rhodes; Toulouse School of Economics
Jidong Zhou; NYU Stern School of Business
   Presented by: Andrew Rhodes, Toulouse School of Economics
 

Relative Price Dispersion
By Greg Kaplan; Princeton University
Guido Menzio; University of Pennsylvania
Leena Rudanko; Federal Reserve Bank of Philadelphia
Nicholas Trachter; Federal Reserve Bank of Richmond
   Presented by: Nicholas Trachter, Federal Reserve Bank of Richmond
 
Session ID 119: Financial Frictions and Asset Prices
June 26, 2015 11:30 to 13:00
 
Session Chair: Roberto Steri, University of Lausanne
 

The Carry Trade and UIP when Markets are Incomplete
By Jack Favilukis; University of British Columbia
Lorenzo Garlappi; UBC
   Presented by: Jack Favilukis, University of British Columbia
 

Carlstrom and Fuerst meets Epstein and Zin: The Asset Pricing Implications of Contracting Frictions
By Joao Gomes; University of Pennsylvania
Ram Yamarthy; University of Pennsylvania
Amir Yaron; University of Pennsylvania
   Presented by: Ram Yamarthy, University of Pennsylvania
 

Collateral-Based Asset Pricing
By Roberto Steri; University of Lausanne
   Presented by: Roberto Steri, University of Lausanne
 
Session ID 138: Optimal Tax Policy
June 26, 2015 11:30 to 13:00
 
Session Chair: Alejandro Badel, St. Louis Fed
 

Pareto Weights in Practice: Income Inequality and Tax Reform
By Bo Hyun Chang; University of Rochester
Yongsung Chang; University of Rochester / Yonsei Univ.
Sun-Bin Kim; Yonsei University
   Presented by: Yongsung Chang, University of Rochester / Yonsei Univ.
 

Intergenerational Disagreement and Optimal Taxation of Parental Transfers
By Nicola Pavoni; Bocconi University
Hakki Yazici; Sabanci University
   Presented by: Hakki Yazici, Sabanci University
 

The Sufficient Statistic Approach: Predicting the Top of the Laffer Curve
By Alejandro Badel; St. Louis Fed
Mark Huggett; Georgetown University
   Presented by: Alejandro Badel, St. Louis Fed
 
Session ID 97: Leo Hurwicz Special Session (1)
June 26, 2015 11:30 to 13:00
 
Session Chair: Andrew Glover, University of Texas at Austin
 

Adverse Selection, Risk Sharing and Business Cycles
By Marcelo Veracierto; Federal Reserve Bank of Chicago
   Presented by: Marcelo Veracierto, Federal Reserve Bank of Chicago
 

Student Loans and Repayment: Theory, Evidence and Policy
By Lance Lochner; University of Western Ontario
Alexander Monge-Naranjo; Federal Reserve Bank of St. Louis
   Presented by: Alexander Monge-Naranjo, Federal Reserve Bank of St. Louis
 

A Simple Dynamic Theory of Credit Scores Under Adverse Selection
By Dean Corbae; University of Wisconsin
Andrew Glover; University of Texas at Austin
   Presented by: Andrew Glover, University of Texas at Austin
 
Session ID 137: Monetary Policy
June 26, 2015 11:30 to 13:00
 
Session Chair: Jenny Tang, Federal Reserve Bank of Boston
 

Monetary Policy Surprises, Credit Costs, and Economic Activity
By Mark Gertler; New York University
Peter Karadi; European Central Bank
   Presented by: Peter Karadi, European Central Bank
 

Monetary Policy, Credit Spreads, and Business Cycle Fluctuations
By Dario Caldara; Federal Reserve Board
Edward Herbst; Federal Reserve Board
   Presented by: Dario Caldara, Federal Reserve Board
 

FOMC Communication and Interest Rate Sensitivity to News
By Jenny Tang; Federal Reserve Bank of Boston
   Presented by: Jenny Tang, Federal Reserve Bank of Boston
 
Session ID 12: Monetary Economics
June 26, 2015 11:30 to 13:00
 
Session Chair: Roc Armenter, Federal Reserve Bank of Philadelphia
 

Long-Run and Short-Run Effects of Money Injections
By Guillaume Rocheteau; University of California, Irvine
Pierre-Olivier Weill; UCLA
Tsz-Nga Wong; Bank of Canada
   Presented by: Tsz-Nga Wong, Bank of Canada
 

Optimal Monetary Interventions in Credit Markets
By Luis Araujo; Michigan State University
Tai-Wei Hu; MEDS
   Presented by: Tai-Wei Hu, MEDS
 

Excess Reserves and Monetary Policy Normalization
By Roc Armenter; Federal Reserve Bank of Philadelphia
Benjamin Lester; Federal Reserve Bank of Philadelphia
   Presented by: Roc Armenter, Federal Reserve Bank of Philadelphia
 
Session ID 79: Information, Coordination and Business Cycles
June 26, 2015 11:30 to 13:00
 
Session Chair: Edouard Schaal, New York University
 

On the Nature and Stability of Sentiments
By Ryan Chahrour; Boston College and Toulouse School of Ec
Gaetano Gaballo; Banque de France
   Presented by: Gaetano Gaballo, Banque de France
 

Endogenous Labor Share Cycles: Theory and Evidence
By Jakub Growiec; Warsaw School of Economics & NBP
Peter McAdam; European Central Bank
Jakub Muck; Narodowy Bank Polski
   Presented by: Jakub Growiec, Warsaw School of Economics & NBP
 

Coordinating Business Cycles
By Edouard Schaal; New York University
Mathieu Taschereau-Dumouchel; University of Pennsylvania - Wharton
   Presented by: Edouard Schaal, New York University
 
Session ID 152: International Macro: Liquidity
June 26, 2015 14:30 to 16:00
 
Session Chair: Michał Brzoza-Brzezina, National Bank of Poland
 

Illiquidity in Sovereign Debt Markets
By Juan Passadore; MIT
   Presented by: Juan Passadore, MIT
 

Liquidity-Driven FDI
By Ron Alquist; Kings Peak Asset Management
Rahul Mukherjee; Graduate Institute
Linda Tesar; University of Michigan
   Presented by: Rahul Mukherjee, Graduate Institute
 

Crisis, contagion and international policy spillovers under foreign ownership of banks
By Michał Brzoza-Brzezina; National Bank of Poland
Marcin Kolasa; National Bank of Poland
Krzysztof Makarski; National Bank of Poland
   Presented by: Michał Brzoza-Brzezina, National Bank of Poland
 
Session ID 90: Macroeconomic Fluctuations and Policies
June 26, 2015 14:30 to 16:00
 
Session Chair: Leonardo Melosi, Federal Reserve Bank of Chicago
 

(S)Cars and the Great Recession
By Morten Ravn; University College London
   Presented by: Morten Ravn, University College London
 

The market value of a central bank
By Ricardo Reis; Columbia University
   Presented by: Ricardo Reis, Columbia University
 

Escaping the Great recession
By Francesco Bianchi; Cornell University
Leonardo Melosi; Federal Reserve Bank of Chicago
   Presented by: Leonardo Melosi, Federal Reserve Bank of Chicago
 
Session ID 14: Uncertainty and Heterogeneous Beliefs
June 26, 2015 14:30 to 16:00
 
Session Chair: Cosmin Ilut, Duke University
 

State-Dependent Media Focus: Measurement and Economic Implications
By Kristoffer Nimark; Cornell University
Stefan Pitschner; Universitat Pompeu Fabra
   Presented by: Kristoffer Nimark, Cornell University
 

Sovereign Default and Information Frictions
By Constance de Soyres; Toulouse School of Economics
Christian Hellwig; Toulouse School of Economics
Roberto Pancrazi; University of Warwick
   Presented by: Christian Hellwig, Toulouse School of Economics
 

Uncertainty aversion and heterogeneous beliefs in linear models
By Cosmin Ilut; Duke University
Pavel Krivenko; Stanford
Martin Schneider; Stanford University
   Presented by: Cosmin Ilut, Duke University
 
Session ID 100: Employment and Wages
June 26, 2015 14:30 to 16:00
 
Session Chair: Christian vom Lehn, Brigham Young University
 

Unemployment Risk and Wage differentials
By Roberto Pinheiro; University of Colorado
Ludo Visschers; The University of Edinburgh/Univ Carlos III Madrid
   Presented by: Ludo Visschers, The University of Edinburgh/Univ Carlos III Madrid
 

Sorting Endogenous Types: The Insurance Role of Education in Labor Markets
By Hector Chade; arizona state university
Ilse Lindenlaub; New York University
   Presented by: Hector Chade, arizona state university
 

Labor Market Polarization, the Decline of Routine Work, and Technological Change: A Quantitative Evaluation
By Christian vom Lehn; Brigham Young University
   Presented by: Christian vom Lehn, Brigham Young University
 
Session ID 101: Migration and the Macroeconomy
June 26, 2015 14:30 to 16:00
 
Session Chair: Fatih Karahan, Federal Reserve Bank of New York
 

Regional Shocks, Migration and Homeownership
By Florian Oswald; UCL
   Presented by: Florian Oswald, UCL
 

Regional labor market adjustment in the United States
By Mai Dao; International Monetary Fund
Davide Furceri; International Monetary Fund & University
Prakash Loungani; International Monetary Fund (IMF)
   Presented by: Mai Dao, International Monetary Fund
 

Population Aging, Migration Spillovers and the Decline in Interstate Migration
By Fatih Karahan; Federal Reserve Bank of New York
Serena Rhee; University of Hawaii at Manoa
   Presented by: Fatih Karahan, Federal Reserve Bank of New York
 
Session ID 120: Firm Dynamics and Financial Frictions
June 26, 2015 14:30 to 16:00
 
Session Chair: Yicheng Wang, University of Rochester
 

Debt Covenants and Macroeconomic Dynamics
By Pedro Gete; Georgetown University
Francois Gourio; FRB Chicago
   Presented by: Pedro Gete, Georgetown University
 

Firm Selection and Corporate Cash Holdings
By Juliane Begenau; Harvard Business School
Berardino Palazzo; Boston University, School of management
   Presented by: Berardino Palazzo, Boston University, School of management
 

Can Wage Dynamics in Long-term Employment Relationships Help Mitigate Financial Shocks?
By Yicheng Wang; University of Rochester
   Presented by: Yicheng Wang, University of Rochester
 
Session ID 136: Search in Product Markets
June 26, 2015 14:30 to 16:00
 
Session Chair: Simon Board, University of California - Los Angeles
 

Advertised Prices in Decentralized Markets
By Derek Stacey; Ryerson University
   Presented by: Derek Stacey, Ryerson University
 

Competing with Asking Prices
By Benjamin Lester; Federal Reserve Bank of Philadelphia
Ludo Visschers; The University of Edinburgh/Univ Carlos III Madrid
Ronald Wolthoff; University of Toronto
   Presented by: Ronald Wolthoff, University of Toronto
 

Information Provision and Consumer Search
By Simon Board; University of California - Los Angeles
Jay Lu; Cornell University
   Presented by: Simon Board, University of California - Los Angeles
 
Session ID 147: Fiscal Policy
June 26, 2015 14:30 to 16:00
 
Session Chair: Ricardo Perez-Truglia, Microsoft
 

Uncertainty and Fiscal Cliffs
By Troy Davig; Federal Reserve Bank of Kansas City
Andrew Foerster; Federal Reserve Bank of Kansas City
   Presented by: Andrew Foerster, Federal Reserve Bank of Kansas City
 

Time-Consistent Fiscal Policy in a Debt Crisis
By Neele Balke; University College London
Morten Ravn; University College London
   Presented by: Neele Balke, University College London
 

Tax Debt Enforcement: Theory and Evidence from a Field Experiment in the United States
By Ricardo Perez-Truglia; Microsoft
Ugo Troiano; University of Michigan
   Presented by: Ricardo Perez-Truglia, Microsoft
 
Session ID 92: Networks and Counterparty Risk: Theory and Empirics
June 26, 2015 14:30 to 16:00
 
Session Chair: Jennifer La'O, Columbia University
 

Counterparty Risk in Material Supply Contracts
By Nina Boyarchenko; Federal Reserve Bank of New York
Anna Costello; Massachusetts Institute of Technology
   Presented by: Nina Boyarchenko, Federal Reserve Bank of New York
 

Microeconomic Origins of Macroeconomic Tail Risks
By Daron Acemoglu; Massachusetts Institute of Technology
Asu Ozdaglar; Massachusetts Institute of Technology
Alireza Tahbaz-Salehi; Columbia Business School
   Presented by: Alireza Tahbaz-Salehi, Columbia Business School
 

Credit Risk and Interdealer Networks
By Nina Boyarchenko; Federal Reserve Bank of New York
Anna Costello; Massachusetts Institute of Technology
Jennifer La'O; Columbia University
Or Shachar; Federal Reserve Bank of New York
   Presented by: Jennifer La'O, Columbia University
 
Session ID 3: Household Credit
June 26, 2015 14:30 to 16:00
 
Session Chair: Johannes Stroebel, New York University
 

Income Changes and Consumption: Evidence from the 2013 Federal Government Shutdown
By Scott Baker; Kellogg School of Management
Constantine Yannelis; Stanford University
   Presented by: Scott Baker, Kellogg School of Management
 

Precommitments for Financial Self-Control:Evidence from Credit Card Borrowing†
By John Rust; Georgetown University
Sung-Jin Cho; Seoul National University
   Presented by: Sung-Jin Cho, Seoul National University
 

Stimulating Household Borrowing During the Great Recession
By Sumit Agarwal; NUS
Souphala Chomsisengphet; Comptroller of the Currency
Neale Mahoney; University of Chicago Booth School of Business
Johannes Stroebel; New York University
   Presented by: Johannes Stroebel, New York University
 
Session ID 29: Advances in Political Economy
June 26, 2015 14:30 to 16:00
 
Session Chair: Jan Zapal, CERGE-EI & IAE-CSIC and Barcelona GSE
 

Partisan Conflict
By Marina Azzimonti; stonybrook university
   Presented by: Marina Azzimonti, stonybrook university
 

Political Reform Cycles
By Matthias Doepke; Northwestern University
Fabrizio Zilibotti; University of Zurich
   Presented by: Matthias Doepke, Northwestern University
 

Efficiency of Flexible Budgetary Institutions
By Renee Bowen; Stanford GSB
Ying Chen; Johns Hopkins University
Hulya Eraslan; Rice University
Jan Zapal; CERGE-EI & IAE-CSIC and Barcelona GSE
   Presented by: Jan Zapal, CERGE-EI & IAE-CSIC and Barcelona GSE
 
Session ID 75: Advances in Open Macroeconomics and Finance
June 26, 2015 14:30 to 16:00
 
Session Chair: Matteo Maggiori, Harvard University
 

The Costs of Sovereign Default: Evidence from Argentina
By Jesse Schreger; Harvard University
   Presented by: Jesse Schreger, Harvard University
 

On the desirability of capital controls
By Jonathan Heathcote; Minneapolis FED
Fabrizio Perri; University of Minnesota
   Presented by: Fabrizio Perri, University of Minnesota
 

Dynamics of Exchange Rates and Capital Flows
By Xavier Gabaix; Stern School of Business
Matteo Maggiori; Harvard University
   Presented by: Matteo Maggiori, Harvard University
 
Session ID 77: International Trade, Growth and Development
June 26, 2015 16:30 to 18:00
 
Session Chair: Tim Schmidt-Eisenlohr, University of Illinois at Urbana-Champaign
 

The Gains from Economic Integration
By David Comerford; University of Stirling
jose rodriguez mora; university of edinburgh
   Presented by: jose rodriguez mora, university of edinburgh
 

Zeros and the Gains from Openness
By Timothy Uy
   Presented by: Timothy Uy,
 

No Guarantees, No Trade: How Banks Affect Export Patterns
By Friederike Niepmann; Federal Reserve Bank of New York
Tim Schmidt-Eisenlohr; University of Illinois at Urbana-Champaign
   Presented by: Tim Schmidt-Eisenlohr, University of Illinois at Urbana-Champaign
 
Session ID 76: Empirical International Finance
June 26, 2015 16:30 to 18:00
 
Session Chair: Rosen Valchev, Duke University
 

Currency Premia and Global Imbalances
By Pasquale Della Corte; Imperial College London
Steven Riddiough; University of Warwick
Lucio Sarno; City University London
   Presented by: Pasquale Della Corte, Imperial College London
 

Uncertainty and International Capital Flows
By Francois Gourio; FRB Chicago
Michael Siemer; Board of Governors of the Federal Reserve System
Adrien Verdelhan; MIT Sloan
   Presented by: Michael Siemer, Federal Reserve Board
 

Exchange Rates and UIP Violations at Short and Long Horizons
By Rosen Valchev; Duke University
   Presented by: Rosen Valchev, Duke University
 
Session ID 153: Technology and Productivity
June 26, 2015 16:30 to 18:00
 
Session Chair: Mariya Teteryatnikova, University of Vienna
 

Patent collateral, investor commitment, and the market for venture lending
By Yael Hochberg; MIT Sloan School of Management
Carlos Serrano; Pompeu Fabra University
Rosemarie Ziedonis; University of Oregon
   Presented by: Carlos Serrano, Pompeu Fabra University
 

Input Capabilities and Product Adoption
By Johannes Boehm; Sciences Po
Swati Dhingra; London School of Economics
John Morrow; London School of Economics
   Presented by: Johannes Boehm, Sciences Po
 

Productivity, Networks and Input-Output Structure
By Mariya Teteryatnikova; University of Vienna
Harald Fadinger; University of Mannheim
Christian Ghiglino; University of Essex
   Presented by: Mariya Teteryatnikova, University of Vienna
 
Session ID 46: Asymmetric information
June 26, 2015 16:30 to 18:00
 
Session Chair: Antonio Guarino, UCL
 

A Back-up Quarterback View of Mezzanine Finance
By Erwan Quintin; University of Wisconsin at Madison
Antonio Mello; University of Wisconsin - Madison
   Presented by: Erwan Quintin, University of Wisconsin at Madison
 

Shades of Darkness: A Pecking Order of Trading Venues
By Albert Menkveld; VU University Amsterdam
Bart Yueshen; INSEAD
Haoxiang Zhu; MIT
   Presented by: Albert Menkveld, VU University Amsterdam
 

Financial Transaction Taxes anf the Informational Efficiency of Financial Markets: A Structural Estimation
By Marco Cipriani; Federal Reserve Bank of New York
Antonio Guarino; UCL
Andreas Uthemann; London School of Economics
   Presented by: Antonio Guarino, UCL
 
Session ID 69: Financial Markets and the Macroeconomy presented by Narodowy Bank Polski
June 26, 2015 16:30 to 18:00
 
Session Chair: Howard Kung, London Business School
 

Mortgages and Monetary Policy
By Carlos Garriga; Federal Reserve Bank of St. Louis
Finn Kydland; University of California, Santa Barbara
Roman Sustek; Queen and Mary University of London
   Presented by: Carlos Garriga, Federal Reserve Bank of St. Louis
 

Learning Financial Shocks and the Great Recession
By Patrick Pintus; Aix-Marseille School of Economics
Jacek Suda; National Bank of Poland
   Presented by: Jacek Suda, National Bank of Poland
 

Finance, Volatility, and Growth
By Alexandre Corhay; University of British Columbia, Sauder School of Business
Howard Kung; London Business School
Lukas Schmid; Duke University
   Presented by: Howard Kung, London Business School
 
Session ID 102: Understanding Wealth Inequality
June 26, 2015 16:30 to 18:00
 
Session Chair: Markus Poschke, McGill University, Montreal
 

Wealth Inequality, Family Background, and Estate Taxation
By Mariacristina De Nardi; UCL and Federal Reserve Bank of Chicago
Fang Yang; Louisiana State University
   Presented by: Fang Yang, Louisiana State University
 

Wealth Inequality and Social Mobility
By Jess Benhabib; NYU
Alberto Bisin; New York University
Mi Luo; New York University
   Presented by: Mi Luo, New York University
 

The evolution of wealth inequality over half a century: the role of skills, taxes and institutions
By Baris Kaymak; Universite de Montreal
Markus Poschke; McGill University, Montreal
   Presented by: Markus Poschke, McGill University, Montreal
 
Session ID 104: Labor Markets and Employment
June 26, 2015 16:30 to 18:00
 
Session Chair: Kurt Mitman, Stockholm University
 

What hides behind the German labor market miracle? A macroeconomic analysis
By Philip Jung; Bonn University
Moritz Kuhn; University of Bonn
   Presented by: Moritz Kuhn, University of Bonn
 

Optimal monetary policy in the presence of human capital depreciation during unemployment
By Lien Laureys; Bank of England
   Presented by: Lien Laureys, Bank of England
 

The Impact of Unemployment Benefit Extensions on Employment: The 2014 Employment Miracle?
By Marcus Hagedorn; Institute of Advanced Studies
Iourii Manovskii; University of Pennsylvania
Kurt Mitman; Stockholm University
   Presented by: Kurt Mitman, Stockholm University
 
Session ID 109: Prices: Theories and Evidence
June 26, 2015 16:30 to 18:00
 
Session Chair: Benjamin Eden, Vanderbilt University
 

Burdett-Judd Redux
By James Albrecht; Georgetown University
   Presented by: James Albrecht, Georgetown University
 

Optimally Sticky Prices
By Jean-Paul L'Huillier; Einaudi Institute for Economics and Finance
William (Bill) Zame; University of California, Los Angeles
   Presented by: Jean-Paul L'Huillier, Einaudi Institute for Economics and Fina
 

Price Dispersion and Demand Uncertainty: Evidence from US Scanner Data
By Benjamin Eden; Vanderbilt University
   Presented by: Benjamin Eden, Vanderbilt University
 
Session ID 134: Firm Dynamics and the Business Cycle 2
June 26, 2015 16:30 to 18:00
 
Session Chair: Benjamin Pugsley, Federal Reserve Bank of New York
 

Discounting: Investment Sensitivity and Aggregate Implications
By Russell Cooper; Pennsylvania State University
Jonathan Willis; Federal Reserve Bank of Kansas City
   Presented by: Jonathan Willis, Federal Reserve Bank of Kansas City
 

Does Home Production Drive Structural Transformation?
By Alessio Moro; University of Cagliari
Solmaz Moslehi; Monash University
Satoshi Tanaka; University of Queensland
   Presented by: Alessio Moro, University of Cagliari
 

Grown-up Business Cycles
By Benjamin Pugsley; Federal Reserve Bank of New York
Aysegul Sahin; Federal Reserve Bank of New York
   Presented by: Benjamin Pugsley, Federal Reserve Bank of New York
 
Session ID 82: Trade, Skill Demand, and Income Inequality
June 26, 2015 16:30 to 18:00
 
Session Chair: Nico Voigtlaender, UCLA
 

Trade, Ineqality and Costly Redistribution
By Pol Antras; Harvard University
Alonso de Gortari; Harvard University
Oleg Itskhoki; Princeton University
   Presented by: Oleg Itskhoki, Princeton University
 

The Rise of the Machines: Automation, Horizontal Innovation and Income Inequality
By Morten Olsen; IESE
David Hemous; INSEAD
   Presented by: Morten Olsen, IESE
 

Imported Inputs, Quality Complementarity, and Skill Demand
By Diego Saravia; Banco Central de Chile
Nico Voigtlaender; UCLA
   Presented by: Nico Voigtlaender, UCLA
 
Session ID 126: Political Economy
June 26, 2015 16:30 to 18:00
 
Session Chair: Assaf Razin, tel aviv university
 

Should Different People Have Different Governments?
By Federico Boffa; Free University of Bolzano
Amedeo Piolatto; Barcelona Economics Institute (IEB)
Giacomo Ponzetto; CREI, U. Pompeu Fabra, & Barcelona GSE
   Presented by: Giacomo Ponzetto, CREI, U. Pompeu Fabra, & Barcelona GSE
 

The Political Economy of Underfunded Municipal Pension Plans
By Jeffrey Brinkman; Federal Reserve Bank of Philadelphia
Daniele Coen-Pirani; University of Pittsburgh
Holger Sieg; University of Pennsylvania
   Presented by: Daniele Coen-Pirani, University of Pittsburgh
 

The Welfare State and Migration:Coalition-formation dynamics
By Assaf Razin; tel aviv university
   Presented by: Assaf Razin, tel aviv university
 
Session ID 31: Macroeconomic Effects of Illiquid Housing
June 26, 2015 16:30 to 18:00
 
Session Chair: Joseph Vavra, University of Chicago
 

The Macroeconomic Effects of Housing Stimulus
By Eric Zwick; University of Chicago
   Presented by: Eric Zwick, University of Chicago
 

Consumption and House Prices in the Great Recession: Model Meets Evidence
By Greg Kaplan; Princeton University
Kurt Mitman; Stockholm University
Gianluca Violante; NYU
   Presented by: Gianluca Violante, NYU
 

House Prices and Consumer Spending
By David Berger; Northwestern University
Veronica Guerrieri; University of Chicago
Guido Lorenzoni; Northwestern University
Joseph Vavra; University of Chicago
   Presented by: Joseph Vavra, University of Chicago
 
Session ID 128: Understanding Exporters
June 27, 2015 9:30 to 11:00
 
Session Chair: José de Sousa, University of Paris-Sud
 

What do Exporters Know?
By Michael Dickstein; Stanford University
Eduardo Morales; Princeton University
   Presented by: Eduardo Morales, Princeton University
 

Supply Function Competition and Exporters: Nonparametric Identification and Estimation of Productivity Distributions and Marginal Costs
By Ayse Pehlivan; Bilkent University
Quang Vuong; New York University
   Presented by: Ayse Pehlivan, Bilkent University
 

Export Decision under Risk
By José de Sousa; University of Paris-Sud
Anne-Celia Disdier; Paris School of Economics-INRA
Carl Gaigne; INRA
   Presented by: José de Sousa, University of Paris-Sud
 
Session ID 112: Exchange Rates and the Macroeconomy
June 27, 2015 9:30 to 11:00
 
Session Chair: Constantino Hevia, Universidad Di Tella
 

The Dynamics of the Trade Balance and the Real Exchange Rate: The J Curve and Trade Costs?
By George Alessandria; University of Rochester
Horag Choi; Monash University
   Presented by: George Alessandria, University of Rochester
 

Exchange Rate and Current Account Dynamics: the Role of Asset Market Structure, Long-Run Risk and Risk Appetite
By Robert Kollmann; ECARES, Université Libre de Bruxelles &
   Presented by: Robert Kollmann, ECARES, Université Libre de Bruxelles &
 

Real Exchange Rates and Commodity Prices
By Joao Ayres; University of Minnesota
Constantino Hevia; Universidad Di Tella
Juan Nicolini; Federal Reserve Bank of Minneapolis
   Presented by: Constantino Hevia, Universidad Di Tella
 
Session ID 54: Firm Dynamics and Growth
June 27, 2015 9:30 to 11:00
 
Session Chair: Ufuk Akcigit, University of Pennsylvania
 

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

Aggregate implications of innovation policy
By Andrew Atkeson; University of California
Ariel Burstein; UCLA
   Presented by: Ariel Burstein, UCLA
 

Innovation, Reallocation and Growth
By Daron Acemoglu; Massachusetts Institute of Technology
Ufuk Akcigit; University of Pennsylvania
Nicholas Bloom; Stanford
William Kerr; Harvard University
   Presented by: Ufuk Akcigit, University of Pennsylvania
 
Session ID 39: Costly Price Adjustment: New Data and New Approaches
June 27, 2015 9:30 to 11:00
 
Session Chair: Brent Neiman, University of Chicago
 

Persistent Monetary Non-neutrality in an Estimated Model with Menu Costs and Partially Costly Information
By Marco Bonomo; Insper Institute of Education and Research
Carlos Carvalho; PUC-Rio
Rene Garcia; EDHEC Business School
Vivian Malta; BTG Pactual
   Presented by: Carlos Carvalho, PUC-Rio
 

Costs of Adjustment and Exporter Behavior: Rationalizing the International Elasticity Puzzle
By Doireann Fitzgerald; Federal Reserve Bank of Minneapolis
Stefanie Haller; University College Dublin
Yaniv Yedid-Levi; The University of British Columbia
   Presented by: Doireann Fitzgerald, Federal Reserve Bank of Minneapolis
 

International Relative Prices: Evidence from Online Retailers in Seven Countries
By Alberto Cavallo; MIT
Brent Neiman; University of Chicago
   Presented by: Brent Neiman, University of Chicago
 
Session ID 73: Stimulus and the Macroeconomy
June 27, 2015 9:30 to 11:00
 
Session Chair: Lukas Buchheim, University of Munich
 

Fiscal Policy Spillovers: Points of Employment to Places of Residence
By Bill Dupor; Federal Reserve Bank of St. Louis
Peter McCrory; Federal Reserve Bank of St. Louis
   Presented by: Bill Dupor, Federal Reserve Bank of St. Louis
 

Are State Governments Roadblocks to Federal Stimulus? Evidence from Highway Grants in the 2009 Recovery Act
By Sylvain Leduc; Federal Reserve Bank of San Francisco
   Presented by: Sylvain Leduc, Federal Reserve Bank of San Francisco
 

Employment Effects of Stimulus Investments
By Lukas Buchheim; University of Munich
   Presented by: Lukas Buchheim, University of Munich
 
Session ID 106: New Approaches to the Analysis of Labor Market Data
June 27, 2015 9:30 to 11:00
 
Session Chair: Thibaut Lamadon, University of Chicago
 

Multidimensional Skills, Sorting, and Human Capital Accumulation
By Jeremy Lise; UCL
Fabien Postel-Vinay; UCL
   Presented by: Fabien Postel-Vinay, UCL
 

The Proportional Hazard Model: Estimation and Testing using Price Change and Labor Market Data
By Fernando Alvarez; University of Chicago
Katarina Borovickova; New York University
Robert Shimer; University of Chicago
   Presented by: Katarina Borovickova, New York University
 

A Distributional Framework for Matched Employer Employee Data
By Stephane Bonhomme; University of Chicago
Thibaut Lamadon; University of Chicago
Elena Manresa; MIT Sloan
   Presented by: Thibaut Lamadon, University of Chicago
 
Session ID 113: Micro Shocks and Macro Fluctuations
June 27, 2015 9:30 to 11:00
 
Session Chair: Vasco Carvalho, University of Cambridge and CREi
 

Why Do Risky Sectors Grow Fast?
By Basile Grassi; University of Oxford
Jean Imbs; Paris School of Economics
   Presented by: Basile Grassi, University of Oxford
 

Good Policy or Good Firms? International Competition and Aggregate Growth in a Granular World
By Jack Rossbach; University of Minnesota
   Presented by: Jack Rossbach, University of Minnesota
 

Firm Dynamics and the Granular Hypothesis
By Vasco Carvalho; University of Cambridge and CREi
Basile Grassi; University of Oxford
   Presented by: Vasco Carvalho, University of Cambridge and CREi
 
Session ID 78: Recent Advances on Factor Shares and Inequality
June 27, 2015 9:30 to 11:00
 
Session Chair: Loukas Karabarbounis, University of Chicago
 

The historical evolution of the wealth distribution: A quantitative-theoretic investigation
By Joachim Hubmer; Yale University
Per Krusell; Stockholm University
Anthony Smith; Yale University
   Presented by: Joachim Hubmer, Yale University
 

Labor Share Decline and the Capitalization of Intellectual Property Products
By Dongya Koh; University of Arkansas
Raul Santaeulalia; Washington University in St Louis
Yu Zheng; City University of Hong Kong
   Presented by: Dongya Koh, University of Arkansas
 

Capital Depreciation and Labor Shares Around the World: Measurement and Implications
By Loukas Karabarbounis; University of Chicago
Brent Neiman; University of Chicago
   Presented by: Loukas Karabarbounis, University of Chicago
 
Session ID 108: Cycles and Multiplicity
June 27, 2015 9:30 to 11:00
 
Session Chair: Vincent Sterk, University College London
 

Unemployment Cycles
By Ilse Lindenlaub; New York University
   Presented by: Ilse Lindenlaub, New York University
 

Reputation Cycles
By Boyan Jovanovic; New York University
Julien Prat; CREST
   Presented by: Julien Prat, CREST
 

The Dark Corners of the Labor Market
By Vincent Sterk; University College London
   Presented by: Vincent Sterk, University College London
 
Session ID 148: Inattention and Heterogeneous Beliefs
June 27, 2015 9:30 to 11:00
 
Session Chair: Mirko Wiederholt, Goethe University Frankfurt
 

What We Don't Know Doesn't Hurt Us: Rational Inattention and the Permanent Income Hypothesis in General Equilibrium
By Yulei Luo; The University of Hong Kong
Jun Nie; Federal Reserve Bank of Kansas City
Gaowang Wang; Shandong University
Eric Young; University of Virginia
   Presented by: Yulei Luo, The University of Hong Kong
 

Efficiency and Distortions in a Production Economy with Heterogeneous Beliefs
By Christian Heyerdahl-Larsen; London Business School
Johan Walden; University of California at Berkeley
   Presented by: Johan Walden, University of California at Berkeley
 

Analytical Results for Dynamic Rational Inattention Problems
By Bartosz Mackowiak; European Central Bank
Filip Matejka; CERGE-EI
Mirko Wiederholt; Goethe University Frankfurt
   Presented by: Mirko Wiederholt, Goethe University Frankfurt
 
Session ID 118: Bank Runs
June 27, 2015 9:30 to 11:00
 
Session Chair: Alexandros Vardoulakis, Board of Governors of the Federal Reserve System
 

Runs versus Lemons: Information Disclosure and Fiscal Capacity
By Miguel de Faria e Castro; NYU
Joseba Martinez; New York University
Thomas Philippon; NEW YORK UNIVERSITY
   Presented by: Miguel de Faria e Castro, NYU
 

Financial Crises and Systemic Bank Runs in a Dynamic Model of Banking
By Roberto Robatto; University Wisconsin-Madison
   Presented by: Roberto Robatto, University Wisconsin-Madison
 

How does macroprudential regulation change bank credit supply?
By Anil Kashyap; University of Chicago
Dimitrios Tsomocos; to be added
Alexandros Vardoulakis; Board of Governors of the Federal Reserve System
   Presented by: Alexandros Vardoulakis, Board of Governors of the Federal Reserve System
 
Session ID 110: Production Networks
June 27, 2015 9:30 to 11:00
 
Session Chair: Lorenzo Burlon, Bank of Italy
 

Networks in Production: Asset Pricing Implications
By Bernard Herskovic; New York University
   Presented by: Bernard Herskovic, New York University
 

Price Rigidities in a Productive Network
By Ernesto Pasten; Central Bank of Chile
Raphael Schoenle; Brandeis University
Michael Weber; University of Chicago Booth School of Bu
   Presented by: Raphael Schoenle, Brandeis University
 

Ownership networks and aggregate volatility
By Lorenzo Burlon; Bank of Italy
   Presented by: Lorenzo Burlon, Bank of Italy
 
Session ID 88: International Trade: Linkages
June 27, 2015 11:30 to 13:00
 
Session Chair: Russell Hillberry, The World Bank
 

Learning and the Value of Relationships in International Trade
By Ryan Monarch; Federal Reserve Board
Tim Schmidt-Eisenlohr; University of Illinois at Urbana-Champaign
   Presented by: Ryan Monarch, Federal Reserve Board
 

Input Linkages and the Transmission of Shocks: Firm-Level Evidence from the 2011 Tōhoku Earthquake
By Christoph Boehm; University of Michigan
Aaron Flaaen; University of Michigan
Nitya Pandalai Nayar; University of Michigan
   Presented by: Nitya Pandalai Nayar, University of Michigan
 

A Coasian Model of International Production Chains
By Thibault Fally; University of California Berkeley
Russell Hillberry; The World Bank
   Presented by: Russell Hillberry, The World Bank
 
Session ID 41: Economics of Public and Private Debt
June 27, 2015 11:30 to 13:00
 
Session Chair: Facundo Piguillem, EIEF
 

Indeterminacy in Sovereign Debt Markets: An Empirical Investigation
By Luigi Bocola; Northwestern University and FRB of Minneapolis
Alessandro Dovis; Pennsylvania State University
   Presented by: Luigi Bocola, Northwestern University and FRB of Minne
 

The Maturity Structure of Inside Money
By Burton Hollifield; Carnegie Mellon University
Ariel Zetlin-Jones; Carnegie Mellon University
   Presented by: Ariel Zetlin-Jones, Carnegie Mellon University
 

Retirement in the Shadow (Banking)
By Guillermo Ordonez; University of Pennsylvania
Facundo Piguillem; EIEF
   Presented by: Facundo Piguillem, EIEF
 
Session ID 123: Misallocation
June 27, 2015 11:30 to 13:00
 
Session Chair: Tiago Cavalcanti, University of Cambridge
 

Misallocation, Establishment Size, and Productivity
By Pedro Bento; West Virginia University
Diego Restuccia; University of Toronto
   Presented by: Pedro Bento, West Virginia University
 

Reallocation, Competition and Productivity: Evidence from a Financial Liberalization Episode
By Liliana Varela; University of Houston
   Presented by: Liliana Varela, University of Houston
 

(Mis)Allocation Effects of an Overpaid Public Sector
By Tiago Cavalcanti; University of Cambridge
Marcelo dos Santos; Insper
   Presented by: Tiago Cavalcanti, University of Cambridge
 
Session ID 99: Macroeconomics at the Zero Lower Bound
June 27, 2015 11:30 to 13:00
 
Session Chair: Francois Gourio, FRB Chicago
 

Does Calvo Meet Rotemberg at the Zero Lower Bound?
By Jianjun Miao; Boston University
Phuong Ngo; Cleveland State University
   Presented by: Phuong Ngo, Cleveland State University
 

The non-linear Calvo model at the zero bound: Some analytic solutions and numerical results
By Gauti Eggertsson; Brown University
Sanjay Singh; Brown University
   Presented by: Sanjay Singh, Brown University
 

Risk Management for Monetary Policy at the Zero Lower Bound
By Jonas Fisher; Federal Reserve Bank of Chicago
Francois Gourio; FRB Chicago
   Presented by: Francois Gourio, FRB Chicago
 
Session ID 68: Models of Beliefs
June 27, 2015 11:30 to 13:00
 
Session Chair: Rhys Bidder, Federal Reserve Bank of San Francisco
 

Gresham's Law of Model Averaging
By In-Koo Cho; University of Illinois
   Presented by: In-Koo Cho, University of Illinois
 

Preventing Self-Fulfilling Crises
By Michal Szkup; University of British Columbia
   Presented by: Michal Szkup, University of British Columbia
 

Long-Run Risk is the Worst-Case Scenario
By Rhys Bidder; Federal Reserve Bank of San Francisco
Ian Dew-Becker; Northwestern University
   Presented by: Rhys Bidder, Federal Reserve Bank of San Francisco
 
Session ID 72: Macro Dynamics and Intermediation
June 27, 2015 11:30 to 13:00
 
Session Chair: Saki Bigio, Columbia GSB
 

Short-Selling Restrictions and Returns: a Natural Experiment
By Marco Bonomo; Insper Institute of Education and Research
Joao De Mello; PUC-RIO
Lira Mota; EPGE-FGV
   Presented by: Marco Bonomo, Insper Institute of Education and Research
 

Capital Requirements, Risk Choice, and Liquidity Provision in a Business Cycle Model
By Juliane Begenau; Harvard Business School
   Presented by: Juliane Begenau, Harvard Business School
 

A Theory of Payments Crises
By Saki Bigio; Columbia GSB
   Presented by: Saki Bigio, Columbia GSB
 
Session ID 80: Family Micro and Macro
June 27, 2015 11:30 to 13:00
 
Session Chair: Alessandra Voena, University of Chicago
 

Asymmetric Information in Couples
By Matthias Doepke; Northwestern University
Michele Tertilt; University of Mannheim
   Presented by: Michele Tertilt, University of Mannheim
 

Optimal Taxation, Marriage, Home Production, and Family Labor Supply
By George-Levi Gayle; Washington Unversity in St. Louis
Andrew Shephard; University of Pennsylvania
   Presented by: George-Levi Gayle, Washington Unversity in St. Louis
 

Selling daughters: age at marriage, income shocks and bride price tradition
By Lucia Corno; Queen Mary, University of London
Alessandra Voena; University of Chicago
   Presented by: Alessandra Voena, University of Chicago
 
Session ID 117: Empirics of Labor Markets
June 27, 2015 11:30 to 13:00
 
Session Chair: Marianna Kudlyak, Federal Reserve Bank of Richmond
 

Human Capital Transferability and Information Spillovers: A Tractable Framework
By Rafael Lopes de Melo; University of Chicago
Theodore Papageorgiou; McGill University
   Presented by: Theodore Papageorgiou, McGill University
 

Hiring, separations, vacancies and productivity
By Jesper Bagger; Royal Holloway, University of London
Francois Fontaine; CREST-LMA and University Paris 1
Manolis Galenianos; Royal Holloway, University of London
Ija Trapeznikova; Royal Holloway, University of London
   Presented by: Manolis Galenianos, Royal Holloway, University of London
 

Measuring Heterogeneity in Job Finding Rates among the Nonemployed Using Labor Force Status Histories
By Marianna Kudlyak; Federal Reserve Bank of Richmond
Fabian Lange; McGill University
   Presented by: Marianna Kudlyak, Federal Reserve Bank of Richmond
 
Session ID 11: New Theories of Business Cycles
June 27, 2015 11:30 to 13:00
 
Session Chair: Tatsuro Senga, The Ohio State University
 

Learning, Confidence, and Business Cycles
By Cosmin Ilut; Duke University
Hikaru Saijo; University of California, Santa Cruz
   Presented by: Hikaru Saijo, University of California, Santa Cruz
 

Coordination and Unemployment
By Edouard Schaal; New York University
Mathieu Taschereau-Dumouchel; University of Pennsylvania - Wharton
   Presented by: Mathieu Taschereau-Dumouchel, University of Pennsylvania - Wharton
 

New Look at Uncertainty Shocks: Imperfect Information and Misallocation
By Tatsuro Senga; The Ohio State University
   Presented by: Tatsuro Senga, The Ohio State University
 
Session ID 124: Structural Change
June 27, 2015 11:30 to 13:00
 
Session Chair: Josep Pijoan-Mas, CEMFI
 

Relative Prices and Sectoral Productivity
By Margarida Duarte; University of Toronto
Diego Restuccia; University of Toronto
   Presented by: Margarida Duarte, University of Toronto
 

Skill-Biased Structural Change and the Skill Premium
By Francisco Buera; Federal Reserve Bank of Chicago
Joseph Kaboski; University of Notre Dame
Richard Rogerson; Princeton University
   Presented by: Joseph Kaboski, University of Notre Dame
 

Investment Demand and Structural Change
By Manuel Garcia-Santana; Universitè Libre de Bruxelles (ECARES)
Josep Pijoan-Mas; CEMFI
Lucciano Villacorta; CEMFI
   Presented by: Josep Pijoan-Mas, CEMFI
 
Session ID 98: Leo Hurwicz Special Session (2)
June 27, 2015 11:30 to 13:00
 
Session Chair: Hugo A. Hopenhayn, UCLA
 

Transparency and Distressed Sales under Asymmetric Information
By William Fuchs; University of California - Berkeley
aniko oery; Yale
Andrzej Skrzypacz; Stanford University
   Presented by: William Fuchs, University of California - Berkeley
 

Time-Consistent Institutional Design
By Charles Brendon; University of Cambridge
Martin Ellison; University of Oxford
   Presented by: Charles Brendon, University of Cambridge
 

Equilibrium Default
By Mark Aguiar; Princeton University
Manuel Amador; Federal Reserve Bank of Minneapolis
Hugo A. Hopenhayn; UCLA
Ivan Werning; Massachusetts Institute of Technology
   Presented by: Hugo A. Hopenhayn, UCLA
 
Session ID 86: Intermediation
June 27, 2015 11:30 to 13:00
 
Session Chair: Viktor Tsyrennikov, IMF
 

Equilibrium Corporate Finance and Intermediation
By Alberto Bisin; New York University
Piero Gottardi; European University Institute
Guido Ruta; NYU and University of Bologna
   Presented by: Piero Gottardi, European University Institute
 

Optimal Capital Requirements over the Business and Financial Cycles
By Frederic Malherbe; London Business School
   Presented by: Frederic Malherbe, London Business School
 

Investment, speculation, and financial regulation
By Viktor Tsyrennikov; IMF
   Presented by: Viktor Tsyrennikov, IMF
 
Session ID 121: Innovation in the Global Economy 2
June 27, 2015 14:30 to 16:00
 
Session Chair: Giammario Impullitti, University of Nottingham
 

International R&D Spillovers and Asset Prices
By Federico Gavazzoni; INSEAD
Ana Maria Santacreu; Federal Reserve Bank of Saint Louis and INSEAD
   Presented by: Ana Maria Santacreu, Federal Reserve Bank of Saint Louis and INSEAD
 

Innovation, Product-Cycle Trade, and the Cross-Country Distribution of Income
By Scott French; University of New South Wales
   Presented by: Scott French, University of New South Wales
 

Globalization and Wage Polarization
By Giammario Impullitti; University of Nottingham
   Presented by: Giammario Impullitti, University of Nottingham
 
Session ID 133: Leveraging and Deleveraging
June 27, 2015 14:30 to 16:00
 
Session Chair: Joseba Martinez, New York University
 

Leveraged Bubbles
By Oscar Jorda; U.C. Davis
Moritz Schularick; University of Bonn
Alan Taylor; Department of Economics & Graduate Schoo
   Presented by: Oscar Jorda, U.C. Davis
 

Liquidity trap and secular stagnation
By Philippe Bacchetta; University of Lausanne
Kenza Benhima; University of Lausanne (HEC)
Yannick Kalantzis; Banque de France
   Presented by: Kenza Benhima, University of Lausanne (HEC)
 

Does a Currency Union Need a Capital Market Union?
By Joseba Martinez; New York University
Thomas Philippon; NEW YORK UNIVERSITY
   Presented by: Joseba Martinez, New York University
 
Session ID 38: Risk Sharing in Developing Countries
June 27, 2015 14:30 to 16:00
 
Session Chair: Melanie Morten, Stanford University
 

Social Investments, Informal Risk Sharing, and Inequality
By Attila Ambrus; Duke University
Arun Chandrasekhar; Stanford
Matthew Elliott; Caltech
   Presented by: Arun Chandrasekhar, Stanford
 

Risk-Sharing in Village Economies Revisited
By Tessa Bold; Goethe University
Tobias Broer; Stockholm University
   Presented by: Tobias Broer, Stockholm University
 

Migration and Consumption Insurance in Bangladesh
By Costas Meghir; Yale University
Ahmed Mobarak; Yale University
Corina Mommaerts; Yale University
Melanie Morten; Stanford University
   Presented by: Melanie Morten, Stanford University
 
Session ID 107: Wages and Employment
June 27, 2015 14:30 to 16:00
 
Session Chair: Robert Shimer, University of Chicago
 

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

Employment Duration over the Business Cycle: Quits vs. Firings
By Ismail Baydur; ADA University
Toshihiko Mukoyama; University of Virginia
   Presented by: Ismail Baydur, ADA University
 

The Accelerated Failure Time Model: Estimation and Testing using Price Change and Labor Market Data
By Fernando Alvarez; University of Chicago
Katarina Borovickova; New York University
Robert Shimer; University of Chicago
   Presented by: Robert Shimer, University of Chicago
 
Session ID 142: Distributional Implications of Policy
June 27, 2015 14:30 to 16:00
 
Session Chair: Jeff Thurk, University of Notre Dame
 

The Distributional Consequences of Exchange Rate Devaluations
By Javier Cravino; University of Michigan
Andrei Levchenko; University of Michigan
   Presented by: Javier Cravino, University of Michigan
 

The Welfare Cost of Inflation Risk Under Imperfect Insurance
By Yann Algan; Sciences Po
olivier allais; Inra
Edouard Challe; Ecole Polytechnique
Xavier Ragot; Paris School of Economics
   Presented by: Xavier Ragot, Paris School of Economics
 

Measuring the Unequal Implications of One Size Fits All Regulation
By Jeff Thurk; University of Notre Dame
   Presented by: Jeff Thurk, University of Notre Dame
 
Session ID 151: Empirical Analyses of Fiscal Policy
June 27, 2015 14:30 to 16:00
 
Session Chair: Riccardo Trezzi, Board of Governors, Federal Reserve Bank
 

Sticker Shocks: VAT changes and the substitution across expenditure categories
By Fernanda Nechio; Federal Reserve Bank of San Francisco
Bart Hobijn; Federal Reserve Bank of San Francisco
   Presented by: Fernanda Nechio, Federal Reserve Bank of San Francisco
 

The Cost of Greening Stimulus: A Dynamic Discrete Choice Analysis of Vehicle Scrappage Programs
By Shanjun Li; Cornell University
Chao Wei; George Washington University
   Presented by: Chao Wei, George Washington University
 

Austerity and Households Expenditure
By Riccardo Trezzi; Board of Governors, Federal Reserve Bank
Paolo Surico; London Business School
   Presented by: Riccardo Trezzi, Board of Governors, Federal Reserve Bank
 
Session ID 81: Long-Run Economic Growth and Development
June 27, 2015 14:30 to 16:00
 
Session Chair: Latchezar Popov, The University of Virginia
 

Distrust in Finance Lingers: Jewish Persecution and Households’ Investments
By Michael Weber; University of Chicago
Francesco D'Acunto; University of California at Berkeley
Marcel Prokopczuk; Leibniz University Hannover
   Presented by: Michael Weber, University of Chicago
 

The Great Divergence: A Network Approach
By Holger Strulik; University of Goettingen
   Presented by: Holger Strulik, University of Goettingen
 

Industrialization and the Evolution of Enforcement Institutions
By Toshihiko Mukoyama; University of Virginia
Latchezar Popov; The University of Virginia
   Presented by: Latchezar Popov, The University of Virginia
 
Session ID 60: Financial Intermediation
June 27, 2015 14:30 to 16:00
 
Session Chair: Maryam Farboodi, Princeton University
 

Liquid bank liabilities
By Saki Bigio; Columbia GSB
Pierre-Olivier Weill; UCLA
   Presented by: Pierre-Olivier Weill, UCLA
 

Regulation and Reputation
By Kinda Hachem; University of Chicago
Martin Kuncl; Bank of Canada
   Presented by: Martin Kuncl, Bank of Canada
 

Strategic Opaqueness: A Cautionary Take on Securitization
By Ana Babus; Chicago FED
Maryam Farboodi; Princeton University
   Presented by: Maryam Farboodi, Princeton University
 
Session ID 149: Housing Perspectives
June 27, 2015 14:30 to 16:00
 
Session Chair: Jonathan Halket, University of Essex
 

The Ins and Outs of Selling Houses
By Rachel Ngai; london school of economics
Kevin Sheedy; London School of Economics
   Presented by: Rachel Ngai, london school of economics
 

Housing Bubbles and Policy Analysis
By Jianjun Miao; Boston University
Pengfei Wang; Hong Kong University of Science and Tech
Jing Zhou; HKUST
   Presented by: Jing Zhou, HKUST
 

A Selection Model of Hedonic House Values and Rents
By Jonathan Halket; University of Essex
Lars Nesheim; University College London
Florian Oswald; UCL
   Presented by: Jonathan Halket, University of Essex
 
Session ID 10: Endogenous uncertainty
June 27, 2015 14:30 to 16:00
 
Session Chair: Venky Venkateswaran, New York University
 

Parameter Learning in General Equilibrium: The Asset Pricing Implications
By Pierre Collin-Dufresne; Ecole Polytechnique Federale de Lausanne
Michael Johannes; Columbia University
Lars Lochstoer; Columbia University
   Presented by: Lars Lochstoer, Columbia University
 

Endogenous confidence cycles
By Cosmin Ilut; Duke University
Pavel Krivenko; Stanford
Martin Schneider; Stanford University
   Presented by: Martin Schneider, Stanford University
 

The Tail that Wags the Economy: Belief-Driven Business Cycles and Persistent Stagnation
By Julian Kozlowski; New York University
Laura Veldkamp; NYU Stern
Venky Venkateswaran; New York University
   Presented by: Venky Venkateswaran, New York University
 
Session ID 96: Heterogeneity and Monetary Policy
June 27, 2015 14:30 to 16:00
 
Session Chair: Greg Kaplan, Princeton University
 

Distributional Effects of Monetary Policy
By Matthias Doepke; Northwestern University
Martin Schneider; Stanford University
Veronika Selezneva; Northwestern University
   Presented by: Veronika Selezneva, Northwestern University
 

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
 

Monetary Policy According to HANK
By Greg Kaplan; Princeton University
Benjamin Moll; Princeton University
Gianluca Violante; NYU
   Presented by: Greg Kaplan, Princeton University
 
Session ID 67: Monetary Economics
June 27, 2015 14:30 to 16:00
 
Session Chair: Pablo Kurlat, Stanford University
 

Monetary Shocks in Models with Inattentive Producers
By Fernando Alvarez; University of Chicago
francesco lippi; University of Sassari
Luigi Paciello; Einaudi Institute (EIEF)
   Presented by: Luigi Paciello, Einaudi Institute (EIEF)
 

Financial Dampening
By Johannes Wieland; University of California, San Diego
Mu-Jeung Yang; University of Washington, Seattle
   Presented by: Johannes Wieland, University of California, San Diego
 

Monetary Shocks and Bank Balance Sheets
By Pablo Kurlat; Stanford University
Sebastian Di Tella; Stanford GSB
   Presented by: Pablo Kurlat, Stanford University
 
Session ID 26: Trade, Infrastructure and Economic Development
June 27, 2015 16:30 to 18:00
 
Session Chair: Simon Alder, University of North Carolina at Chapel H
 

Temporary Shocks and Persistent Effects in the Urban System: Evidence from British Cities after the U.S. Civil War
By William Hanlon; UCLA
   Presented by: William Hanlon, UCLA
 

Trade and the Spatial Distribution of Transport Infrastructure
By Gabriel Felbermayr; University of Munich and Ifo Institute
Alexander Tarasov; University of Munich
   Presented by: Alexander Tarasov, University of Munich
 

Chinese Roads in India: The Effect of Transport Infrastructure on Economic Development
By Simon Alder; University of North Carolina at Chapel H
   Presented by: Simon Alder, University of North Carolina at Chapel H
 
Session ID 13: Collateral and Safety
June 27, 2015 16:30 to 18:00
 
Session Chair: Guillermo Ordonez, University of Pennsylvania
 

Financing Durable Assets
By Adriano Rampini; Duke University
   Presented by: Adriano Rampini, Duke University
 

The international transmission of credit bubbles: theory and policy
By Alberto Martin; CREI, UPF and Barcelona GSE
Jaume Ventura; CREI
   Presented by: Alberto Martin, CREI, UPF and Barcelona GSE
 

Good Booms, Bad Booms
By Gary Gorton; Yale School of Management
Guillermo Ordonez; University of Pennsylvania
   Presented by: Guillermo Ordonez, University of Pennsylvania
 
Session ID 145: Productivity, Innovation and Growth
June 27, 2015 16:30 to 18:00
 
Session Chair: John Fernald, Federal Reserve Bank of San Francisco
 

Schumpeterian business cycles
By Filip Rozsypal; University of Cambridge
   Presented by: Filip Rozsypal, University of Cambridge
 

The Geography of Unconventional Innovation
By Enrico Berkes; Northwestern University
Ruben Gaetani; Northwestern University
   Presented by: Ruben Gaetani, Northwestern University
 

World TFP
By John Fernald; Federal Reserve Bank of San Francisco
Bart Hobijn; Federal Reserve Bank of San Francisco
   Presented by: John Fernald, Federal Reserve Bank of San Francisco
 
Session ID 139: Monetary Policy: Theory and Evidence
June 27, 2015 16:30 to 18:00
 
Session Chair: Stefano Eusepi, Federal Reserve Bank of New York
 

Housing Debt and the Transmission of Monetary Policy
By James Cloyne; Bank of England
Clodomiro Ferreira; European University Institute
Paolo Surico; London Business School
   Presented by: Clodomiro Ferreira, European University Institute
 

Forward Guidance: Communication, Commitment, or Both?
By Marco Bassetto; University College of London
   Presented by: Marco Bassetto, University College of London
 

What drives long-run inflation expectations?
By Carlos Carvalho; PUC-Rio
Stefano Eusepi; Federal Reserve Bank of New York
Emanuel Moench; Deutsche Bundesbank
Bruce Preston; Melbourne University
   Presented by: Stefano Eusepi, Federal Reserve Bank of New York
 
Session ID 84: Expectations in Macroeconomics
June 27, 2015 16:30 to 18:00
 
Session Chair: Pontus Rendahl, University of Cambridge
 

What Drives Aggregate Investment?
By Ruediger Bachmann; University of Notre Dame
   Presented by: Ruediger Bachmann, University of Notre Dame
 

Inflation Expectations and Consumption Expenditure
By Francesco D'Acunto; University of California at Berkeley
Daniel Hoang; Karlsruhe Institute of Technology
Michael Weber; University of Chicago
   Presented by: Francesco D'Acunto, University of California at Berkeley
 

Deconstructing the Fiscal Multiplier
By Pontus Rendahl; University of Cambridge
   Presented by: Pontus Rendahl, University of Cambridge
 
Session ID 103: New Theories of Inequality
June 27, 2015 16:30 to 18:00
 
Session Chair: Ezra Oberfield, Princeton University
 

An Assignment Model of Knowledge Diffusion and Income Inequality
By Erzo Luttmer; University of Minnesota
   Presented by: Erzo Luttmer, University of Minnesota
 

A Static and Microfounded Theory of Zipf's Law for Firms and of the Top Labor Income Distribution
By François Geerolf; University of California, Los Angeles
   Presented by: François Geerolf, University of California, Los Angeles
 

Organizing Idea Flows
By Ezra Oberfield; Princeton University
Esteban Rossi-Hansberg; Princeton University
   Presented by: Ezra Oberfield, Princeton University
 
Session ID 1: Macroeconomics across Time and Space
June 27, 2015 16:30 to 18:00
 
Session Chair: Mike Waugh, New York University
 

Structural Transformations with Long-Run Price and Income Effects
By Diego Comin; Harvard Business School
Danial Lashkari; Harvard University
Marti Mestieri; Toulouse School of Economics
   Presented by: Marti Mestieri, Toulouse School of Economics
 

Innovation and Top Income Inequality
By Philippe Aghion; Harvard University
Ufuk Akcigit; University of Pennsylvania
Antonin Bergeaud; Banque de France and école polytechnique
Richard Blundell; University College London
David Hemous; INSEAD
   Presented by: David Hemous, INSEAD
 

The Macroeconomics of Rural-Urban Migration
By David Lagakos; University of California, San Diego
Mike Waugh; New York University
   Presented by: Mike Waugh, New York University
 
Session ID 36: Regulatory Constraints on Financial Intermediation
June 27, 2015 16:30 to 18:00
 
Session Chair: Zheng Song, The University of chicago
 

Financial Protectionism: Further Evidence
By Anya Kleymenova; University of Chicago
Andrew Rose; University of California, Berkeley
Tomasz Wieladek; Bank of England
   Presented by: Tomasz Wieladek, Bank of England
 

Intermediary Balance Sheets
By Tobias Adrian; Federal Reserve Bank of New York
Nina Boyarchenko; Federal Reserve Bank of New York
   Presented by: Tobias Adrian, Federal Reserve Bank of New York
 

The Rise of China's Shadow Banking System
By Kinda Hachem; University of Chicago
Zheng Song; The University of chicago
   Presented by: Kinda Hachem, University of Chicago
 
Session ID 47: Labor flows and wage dynamics
June 27, 2015 16:30 to 18:00
 
Session Chair: Gabriel Chodorow-Reich, Harvard University
 

Financial Shocks and Job Flows
By Neil Mehrotra; Brown University
Dmitriy Sergeyev; Bocconi University
   Presented by: Neil Mehrotra, Brown University
 

Unemployment Fluctuations, Match Quality, and the Wage Cyclicality of New Hires
By Mark Gertler; New York University
Christopher Huckfeldt; Cornell University
Antonella Trigari; Università Bocconi
   Presented by: Christopher Huckfeldt, Cornell University
 

Labor Reallocation and Business Cycles
By Gabriel Chodorow-Reich; Harvard University
Johannes Wieland; University of California, San Diego
   Presented by: Gabriel Chodorow-Reich, Harvard University
 
Session ID 143: Methodological Advances
June 27, 2015 16:30 to 18:00
 
Session Chair: Marco Cozzi, Queen's University
 

Envelope Theorem, Euler, and Bellman Equations without Differentiability
By Ramon Marimon; European University Inst. & UPF - Barcelona GSE
Jan Werner; University of Minnesota
   Presented by: Jan Werner, University of Minnesota
 

Identi cation and Estimation of Production Function with Unobserved Heterogeneity
By Hiroyuki Kasahara; University of British Columbia
Paul Schrimpf; The University of British Columbia
Michio Suzuki; University of Tokyo
   Presented by: Michio Suzuki, University of Tokyo
 

Heterogeneity in Macroeconomics and the Minimal Econometric Interpretation for Model Comparison
By Marco Cozzi; Queen's University
   Presented by: Marco Cozzi, Queen's University
 
Session ID 122: Management Matters
June 27, 2015 16:30 to 18:00
 
Session Chair: Andrea Moro, Vanderbilt University
 

Managers and Productivity Differences
By Nezih Guner; Universitat Autonoma de Barcelona
Andrii Parkhomenko; Univesitat Autonoma de Barcelona
Gustavo Ventura; Arizona State University
   Presented by: Gustavo Ventura, Arizona State University
 

Management Quality, Firm Organization and International Trade
By Cheng Chen; The University of Hong Kong
   Presented by: Cheng Chen, The University of Hong Kong
 

Do Female Executives Make a Difference? The Impact of Female Leadership on Gender Gaps and Firm Performance
By Luca Flabbi; IDB
Mario Macis; Johns Hopkins University
Andrea Moro; Vanderbilt University
Fabiano Schivardi; Bocconi University
   Presented by: Andrea Moro, Vanderbilt University
 
Session ID 140: Consumption and Income Risk
June 27, 2015 16:30 to 18:00
 
Session Chair: David Argente, University of Chicago
 

The marginal propensity to consume out of liquidity: Evidence from a randomized controlled trial
By Deniz Aydin; Stanford
   Presented by: Deniz Aydin, Stanford
 

Precautionary Saving for Consecutive Income Risk
By Ben Etheridge; University of Essex
   Presented by: Ben Etheridge, University of Essex
 

Cost of Living Inequality during the Great Recession
By David Argente; University of Chicago
Munseob Lee; University of Chicago
   Presented by: David Argente, University of Chicago

This program was last updated on 2015-06-24 18:14:20 EDT