| June 25, 2015 | |
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| 09:30 to 11:00 | Morning Session I, Day 1 |
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| 11:30 to 13:00 | Morning Session II, Day 1 |
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| 14:30 to 16:00 | Afternoon Session I, Day 1 |
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| 16:30 to 18:00 | Afternoon Session II, Day 1 |
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| 18:15 to 19:15 | Plenary Talk: Chad Jones "A Schumpeterian Model of Top Income Inequality" |
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| June 26, 2015 | |
| 09:30 to 11:00 | Morning Session I, Day 2 |
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| 11:30 to 13:00 | Morning Session II, Day 2 |
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| 14:30 to 16:00 | Afternoon Session I, Day 2 |
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| 16:30 to 18:00 | Afternoon Session II, Day 2 |
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| 18:15 to 19:15 | Inaugural Dale Mortensen Lecture: Richard Blundell "Human Capital, Labor Supply and Tax Reform" |
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| June 27, 2015 | |
| 09:30 to 11:00 | Morning Session I, Day 3 |
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| 11:30 to 13:00 | Morning Session II, Day 3 |
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| 14:30 to 16:00 | Afternoon Session I, Day 3 |
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| 16:30 to 18:00 | Afternoon Session II, Day 3 |
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| 18:15 to 19:15 | Plenary Talk: Sam Kortum "New Terrain for International Trade" |
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| Plenary Talk: Chad Jones "A Schumpeterian Model of Top Income Inequality" June 25, 2015 18:15 to 19:15 |
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| Inaugural Dale Mortensen Lecture: Richard Blundell "Human Capital, Labor Supply and Tax Reform" June 26, 2015 18:15 to 19:15 |
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| Plenary Talk: Sam Kortum "New Terrain for International Trade" June 27, 2015 18:15 to 19:15 |
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Summary of All Sessions |
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144 sessions, 432 papers, and 0 presentations with no associated papers |
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Society for Economic Dynamics Annual Meeting 2015 |
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Detailed List of Sessions |
| Session ID 40: Exporter and Importer Matches in International Trade June 25, 2015 9:30 to 11:00 |
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| 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 A ffect 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