SED 2000 Meeting Program
Session I: Thursday June 29, 9:30 AM
Structural and Cyclical Impacts of Technical Change on Firm Behavior Room: Cabildo I+II
Agarwal, Rajshree, University of Central Florida & Gort, Michael. Firm and industry life cycles and determinants of firm survival
Bessen, James, Research on Innovation & Maskin, E. Sequential innovation, patents and imitation
Campbell, Jeff, University of Chicago. Organizational flexibility and employment dynamics at young and old plants
Rousseau, Peter, Vanderbilt University & Jovanovic, Boyan. The electricity revolution and the stock market
Political Economy Redistribution Room: Belén
Mateos-Planas, Xavier, University of Southampton. Politico-economic equilibrium in life-cycle economies
Klor, Esteban, New York University & Oriol Carbonell, New York University. Representative democracy and marginal rate
Forni, Lorenzo, Bank of Italy. Why should selfish young generations be willing to pay for their parents retirement income?
Moizeau, Fabien, Université de Paris I & Desdoigts, Alain, and Jaramillo, Fernando. Political equilibrium, endogenous formation of clubs, inequality and growth
International Trade Room: Juan Vásquez de Coronado G+H
Kehoe, Timothy J., University of Minnesota and Federal Reserve Bank of Minneapolis. International capital flows, real exchange rate movements, and the apertura in Mexico
de Cordoba, Gonzalo Fernandez, Universidad de Salamanca. A dynamic general equilibrium model of structural change in Spain 1985-1996
Bergoeing, Raphael, Universidad Alberto Hurtado, ILADES-Georgetown University & Kehoe, Timothy J. Trade theory and trade facts
Betts, Caroline M., University of Southern California. Contracts-in-advance and real exchange rate fluctuations
Search and Matching Room: Juan Vásquez de Coronado A+B
Albrecht, Jim, Georgetown University & Vroman, Suan. A matching model with endogenous skill requirements
Shimer, Robert, Princeton University & Smith, Lones. Matching, search and heterogeneity
Eeckhout, Jan, University of Pennsylvania. Competing norms of cooperation
Julien, Benoit, Victoria U of Wellington & King, I. Directed search, heterogeneity, and unemployment
Productivity Differentials Room: Alcázar
Coleman II, John Wilbur, Fuqua School of Business, Duke University & Caselli, Francesco. The world technology frontier
Rogerson, Richard, University of Pennsylvania & Gollin, Douglas and Parente, Stephen. Farm work, home work and international productivity differences
Ngai, Liwa, U of Pennsylvania. Barriers and the transition to modern growth
Jovanovic, Boyan, New York University & Benhabib, Jess. Optimal migration
Crime Room: Cabildo III
Lisboa, Marcos, Getulio Vargaa & Viegas, M. Age structure, economic factors and murder rates: an analysis of Brazil�s three main states from 19881 to 1997
Schlagenhauf, D, Florida State & Platania, S. An analysis of criminal justice system policies: a general equilibrium approach
Zakharova, Daria, U of Minnesota. Time consistency and up-or-out promotion
Mourmouras, Alex, IMF & Russell, S. Smuggling, inflation, and unofficial dollarization
Evolution Room: San Antonio
Lee, Susan C.S., University of Wisconsin. Assortative interactions and endogenous stratification
Ely, Jeffrey & Sandholm, Bill. Evolution with Diverse Preferences
Sarin, Rajiv, Texas A&M University & Heller, Dana. Parametric Adaptive Learning
Lagunoff, Georgetown University & Haag, Matthew. Social norms, local interaction, and neighborhood planning
Prices and Marriage Room: Juan Vásquez de Coronado C
Ventura, Gustavo, University of Western Ontario & Chade, Hector. Marriage, taxes and heterogeneity
Wright, Randall, University of Pennsylvania & Soller-Curtis, Elisabeth and Lagos, Ricardo. Price setting and price-dispersion in a monetary economy
Hess, Gregory, Oberlin College. Marriage and consumption insurance: what�s love got to do with it?
Webb, Tracy, University of Bristol. Marriage and divorce
Money and Banking Room: Juan Vásquez de Coronado F
Jones, Larry University of Wisconsin & Manuelli, Rodolfo. Volatile policy and private information: The case of monetary shocks
Sleet, Christopher University of Texas-Austin & Smith, Bruce. Deposit insurance and lender of last resort functions
Williamson, Stephen D., University of Iowa & Temzelides, Ted. Payment system design in deterministic and private information environment
Reichlin, Pietro, University of Rome La Sapienza and CEPR & Bloise, Gaetano. Moral hazard and macroeconomic dynamics in a dual financial market model
Session II, Thursday June 29, 1:15 PM
On money matching Room: Alcázar
Starr, Ross, UC San Diego. Why is there money? Convergence to a monetary equilibrium in a general equilibrium model with transaction costs
Craine, Roger, Berkeley. Dollarization
Hromcová, Jana, Universidad de Alicante & Caballé, Jordi. The role of central bank operating procedures in an economy with productive government spending
Shi, Shuyoung, Queen�s U & Wang, W, and Liu, C. Inventory, search, and the variability of the velocity of money
Labor Search Room: Cabildo I+II
Lentz, Rasmus, Northwestern & Tranaes, T. Job search, savings, and wealth effects
Eudey, Gwen, Federal reserve Board & Molico, M. Production synergies, technology adoption, unemployment, and wages
Quercioli, Elena, University of Essex & Masters, Adrian. Educational choice in search equilibrium
Smith, Eric, University of Essex & Browning, Martin, and Crossley, Thomas. Asset accumulation and short term employment
Credit Market Imperfections Room: Juan Vásquez de Coronado A+B
Terra, Cristina, Getulio Vargas. Do credit constraints influence trade pattern in Brazil?
House, Christopher, Boston U. Monetary policy and credit market failure
Gourinchas, Pierre-Olivier, Princeton University & Valdés, Rodrigo, and Landerretche, Oscar. Lending boom: Some stylized facts
Pfann, Gerard A., University of Maastrict & Hamermesh, Daniel ,S. Labor turnover in a dying firm
International Policy Competition Room: Juan Vásquez de Coronado G+H
Loayza, N, World Bank, Chile Central Bank & Bennett, H. Policy biases when monetary and fiscal authorities have different objectives
Zilcha, Itzhak, Tel Aviv U & Viaene, J-M. Optimal public education under capital mobility
Hercowitz, Zvi, Tel Aviv U & Strawczynski, M. Public-debt/output guidelines: the case of Israel
Kollintzas, Tryphon, Athens University of Economics and Business & Philippopoulos, Apostolis, and Vassilatos, Vanghelis. Is tax policy coordination necessary?
Dynamic portfolio choice Room: Juan Vásquez de Coronado C
Choi, Woon Gyu, Hongkong U of Science and Tech & Wen, Y. Measuring interest rates as determined by thrift and productivity
Seppala, J, U of Chicago. The term structure of real interest rates: theory and evidence from the UK index-linked bonds
Akyol, Ahmet, U of Iowa. Optimal monetary policy in an economy with incomplete markets and idiosyncratic risk
Eisfeldt, Andrea, U of Chicago. Endogenous liquidity in asset markets
Empirical Growth Room: Juan Vásquez de Coronado F
Cavalcanti Ferreira, Pedro, Getulio Vargas & Issler J, Pessoa S. On the nature of income inequality across nations
Elias, Silvina, U Nacional del Sur & Fernandez, M del R. Determinantes del crescimiento: un estudio empirico para Latinoamerica
Simhon, Avi, Hebrew U & Bar-Shira, Z and Finkelshtain, I. Assessing miracles using revealed TFP superiority
Binder, Michael, U of Michigan & Pesaran, H. Life-cycle models and cross-country analysis of saving
General equilibrium Room: Cabildo III
Nachbar, John, Washington University. General Equilibrium Comparative Statics
Schmeders, Karl, Northwestern University & Kubler, Felix. Incomplete markets, transitory shocks, and welfare
Datta, M, Arizona State & Reffett, K and Mirman, L. Existence and uniqueness of equilibrium in distorted dynamic economies with capital and labor
Sandroni, Alvaro, Northwestern University & Feddersen, Timothy. A model of duty and voting turnover
Contracts Room: Belén
Bisin, Alberto, New York University & Rampini, Adriano. Exclusive contracts and the institution of bankruptcy
Rampini, Adriano, Northwestern University. Aggregate dynamics with multiperiod contracts
Lucas, Debbie, Northwestern University & Heaton, John. Capital structure, hurdle rates, and portfolio choice: Interactions in an entrepreneurial firm
De-Blas-Pérez, Beatriz, Universitat Autònoma. Debt-limits and endogenous growth
On the Costs of Business Cycles Room: San Antonio
Jermann, Urban, Wharton School, University of Pennsylvania & Fernando, Alvarez. Using asset prices to measure the cost of business cycles
Gadi, Barlevy. Stabilization policy in a model of endogenous growth
Swanson, Charles, Temple U. Business cycle costs with skill acquisition in multiple sectors: a possible role for countervailing fiscal policy
Maury, Tristan-Pierre, MODEM, Université de Paris X & Matheron, Julien. The Welfare cost of fluctuations in AK growth models
Session III: Thursday June 29, 3:45 PM
Housing in General Equilibrium Room: Juan Vásquez de Coronado C
Wang, Yong, Chinese U of Hongkong &Leung, C. Fixed costs and real estate cycles
Platania, J & Schlagen hauf, D., Florida State. Housing, tax policy, and asset holding
Heathcote, Jonathan, Stockholm School of Economics & Davis, M. Housing and the business cycle
Peterson, Brian, U of Pennsylvania. Housing, heterogeneity, and aggregate uncertainty
Labor Market Policies Room: Alcázar
Veracierto, Marcelo, Federal Reserve Bank of Chicago. Firing costs and business cycle dynamics
Alvarez, Fernando, University of Chicago & Veracierto, Marcelo. Firing taxes and temporary contracts in an equilibrium search model
Aguirregabiria, Victor, University of Chicago. Evaluating the effect of regulated severance payments on employment, wages and productivity
Jansen, Marcel, European University Institute. Efficiency wages, search and welfare
Migration Room: Juan Vásquez de Coronado F
Gaumont, D, U de Paris II Mesnard, A Interitance, land and capital mobility linked to labor mobility
Simpson, Nicole, U of Iowa. Migration in dynamic general equilibrium: a quantitative analysis of the US-Mexico experience
Wilson, Stuart, Queen�s. A dynamic equilibrium analysis of migration, capital formation and economic growth: the case of Canada
Domingues Dos Santos, Manon, EUREQua, Université de Paris I & Postel- Vinay, Fabien. Migration as a source of growth: The perspective of a developing country
International trade Room: Juan Vásquez de Coronado A+B
Alessandria, George, U of Pennsylvania. International lending, government guarantees and economic crises
O� Neill Fisher, Eric, Ohio State & Kakkar, V. On the evolution of comparative advantage
Bajona, Claustre, U of Miami. Specific factors, learning, and the dynamics of trade
Loewy, Michael, U of South Florida & Ben-David, D. Regional and global trade liberalization in a multi-country growth model
Applications of Search Theory Room: Juan Vásquez de Coronado G+H
Okumura, Tsunao, Northwestern U. Wealth as a signal in the search model of money
Blankenau, William, U of Wisconsin-Whitewater & Camera, G. Education, costly skills, and subsidies
Temzelides, Ted, University of Iowa & Shi, Shouyong. Bureaucracy and corruption
Keister, Todd, Cornell & Ennis, H. Government policy and probabilistic equilibrium selection
Learning Room: Cabildo I+II
Williams, Noah, University of Chicago. Convergence and escape: Learning Dynamics and the time paths of inflation in a model of monetary policy
Kasa, Kenneth, San Francisco Fed. Learning, large deviations, and recurrent currency crises
Cho, In-Koo, University of Illinois & Sargent, Thomas J. Escaping Nash inflation
Sargent, Thomas & Cogley, Timothy. Evolving post world war II U.S. Inflation dynamics
Endogenous Growth Models Room: Cabildo III
Lai, Edwin, City U of Hongkong & Kwan, Y. Intellectual property rights protection and endogenous economic growth
Strulik, Holger, Universität Hamburg. Property rights and growth
Domínguez Manzano, Begoña, Universitat Autònoma de Barcelona. Time consistency of optimal fiscal policy in an endogenous growth model
Wang, Ping, Vanderbilt University & Chang, Chia-Ying, and Huang, Chien-Chieh. Clean air or sports car? A model of pollution and growth with cooperative settlement
Inequality & Development Room: Belén
Giovannetti, Giorgia, U di Firenze. From polarized to diversified trade in developing countries
Thoenig, Mathias, CREST & Verdier, Thierry. Trade induced technical change and wage inequality: A theory of defensive innovation
Benhamouche, Zoubir, CEPREMAP. Inequality, technology adoption and development
Saint-Martin, Anne, CEPREMAP and EPEE. Unskilled employment: Globalization vs technological bias
Fluctuations Room: San Antonio
Costain, James S., Universitat Pompeu Fabra & Reiter, Michael. Computing business cycles with endogenous risk
Antinolfi, Gaetano, Washington U & Huybens, E, and Keister, T. Monetary stability and liquidity crises: the role of the lender of last resort
Wen, Yi, Cornell. The business cycle effects of seasonal shocks
Maliar, Serguei, Universidad de Alicante. Idiosyncratic shocks, aggregate fluctuations and the representative consumer
Plennary Session #1, Thursday June 29, 6:00 PM.
Patrick Kehoe, Federal Reserve Bank of Minneapolis
Session IV: Friday, June 30, 9:30 AM
Female labor supply and fertility Room: Alcázar
Mahieu, Géraldine, Université Catholique de Louvain & de la Croix, David, and Rillaers, Alexandra. How should optimal policy adjust to the demographic shocks?
da-Rocha, José M., Universidade de Vigo & Fuster, Luisa. Why are fertility and female participation rates positively correlated in OECD countries?
Jones, Larry, University of Minnesota & Manuelli, Rady and McGrattan, Ellen. Why are married women working so much?
Fogli, Alessandra, University of Pennsylvania and New York University. Endogenous labor market rigidities and family ties
Exchange rate regimes Room: Juan Vásquez de Coronado C
Sopraseuth, Thepthida, EUREQua, Université de Paris. Exchange rate regimes and international business cycle
Carre, Martine, EPEE-CREST & Collard, Fabrice. Monetary union: A welfare approach
Duarte, Margarida, University of Rochester. Why don�t macroeconomic quantities respond to exchange rate variability? Comparing fixed and floating exchange rate systems
Leduc, Sylvain, Federal Reserve Bank of Philadelphia & Dedola, Luca. On the choice of monetary policy rule and the exchange rate regime in a sticky price model
Search/matching Room: Cabildo III
Delacroix, Alain, Purdue University. Bargaining vs. price posting
Laing, Derek, Pennsylvania State University. Firms and markets
Smith, Eric, Essex University. Increasing returns and short-term employment
Virrankoski, J, Helsinki School of Economics. Search intensities, returns to scale, and the uniqueness of equilibrium in the labor market
Government policy Room: Juan Vásquez de Coronado G+H
Albuquerque, Rui, University of Rochester. The composition of international capital flows: Risk sharing through foreign direct investment
Espinosa-Vega, Marco, Federal Reserve Bank of Atlanta & Smith, Bruce D, and Yip, Chong K. Barriers to international capital flows: Who should erect them and how big should they be?
Phelan, Christoher, Federal Reserve Bank of Minneapolis. On the irrelevance of the maturity structure of government debt without commitment
Barnett, Richard, U of Arkansas. Inflation, taxes, and the coordination of monetary and fiscal policy by use of a game of chicken
Endogenous Growth Models Room: Juan Vásquez de Coronado F
Teixeira, Arilton, Catholic University, Brazil & Edwards, R. Formation and destruction of coalition groups under economic growth
Aloi, Marta, University of Nottingham & Laselle, L. Tax driven growth cycles
de Hek, Paul, Erasmus University Rotterdam. Endogenous technological change under uncertainty
Licandro, Omar, FEDEA & Boucekkine, Raouf, del Río, Fernando. The importance of the embodied question revisited
Cities Room: Cabildo I+II
Del Negro, Marco, ITAM. Metropolitan areas business cycles
De Mello Franco, Afonso, Getulio Vargas. Equilibrium population distribution and primacy among cities
Rossi-Hansberg, Esteban & Lucas, Robert E, Jr. Business location in a circular city
Lamorgese, Andrea, U Libre de Bruxelles. Income smoothing within and between states: time vs. frequency domain
Managerial Compensation Room: Juan Vásquez de Coronado A+B
Casadesus- Masanell, Ramon, Northwestern University. Trust in agency
Clementi, Gian Luca, University of Rochester & Cooley, Thomas F. CEO compensation, capital structure, and shareholder wealth in a dynamic agency model
Ueda, Masako, Universitat Pompeu Fabra. The size distribution of firms in a principal-agent economy
Wang, Cheng, Carnegie Mellon. When to terminate a long-term contract?
Operations/Economics Room: Belén
Tayur, Sridhar, GSIA, CMU & Erhun, Feryal, and Keskinocak, Pinar. Analysis of capacity reservation and spot purchase under horizontal competition
Elmaghraby, Wedad J., Georgia Institute of Technology. The effect of contract duration on the decision of parallel source
Novak, Sharon, Northwestern University. Ownership structures in the auto industry: A proper rights perspective
Adam, Klaus, European University Institute. Learning in an OLG model with imperfect competition
RBC with unions or other nonstandard features Room: San Antonio
Sorensen, Soren, U of Aarhus. Staggered wage setting and real exchange raate dynamics
Suessmuth, Bernd, University of Munich. Endogenously-timed herding and the synchronization of investment cycles
Gorostiaga, Arantza, Universidad Carlos III. Should fiscal policy be different in a non-competitive framework?
Alvarez Lois, Pedro-Pablo, Universitat Autonoma de Barcelona. Monetary policy, firm heterogeneity and endogenous capacity utilization
Session V: Friday, June 30, 1:15 PM
Search/matching Room: Juan Vásquez de Coronado C
Coles, M., Essex University. Divorce and stigma
Webb, T., Bristol University. Marriage and divorce
Smith, Lones, University of Michigan & Anderson, Axel Z.. Assortative matching and reputation
Burguet, Roberto, Institut d�Anàlisi Econòmia CSIC & Fairburn, James A. Market incentives and mobility
Productivity Dynamics Room: Juan Vásquez de Coronado G+H
Moro, Andrea, University of Minnesota & Norman, Peter. Specific human capital, trade, and the wealth of nations
Marchetti, Domenico, Bank of Italy & Nucci, F. Procyclical productivity, unobserved factor utilization and technology shocks
Franco, April, University of Iowa. Quantifying technological lock-in
Mitchell, Matthew, University of Minnesota & Holmes, Thomas. Specialization in the 1900�s
Family economics and policy Room: Juan Vásquez de Coronado F
Tjornhom, Jessica D., University of Minnesota and Federal Reserve Bank of Minneapolis & Krueger, Dirk. The effects of child labor and mandatory education legislation on economic development
Zimmermann, Christian, Université du Quebec a Montreal & Pallage, Stéphane. On child labor
Fernandez, Ana, CEMFI. Altruism with endogenous labor supply
Caucutt, Elizabeth, University of Rochester & Gollin, Douglas. The dark side of family insurance mechanisms: taxation within households as an impediment to growth
Open Economy Macro Room: Cabildo I+II
Mendoza, Enrique, Duke University. Credit market frictions, policy credibility and the business cycle of emerging markets
Lambertini, Luisa, UCLA. Volatility, persistence and sovereign default
Cooley, Thomas F., New York University and University of Rochester & Quadrini, Vincenzo. Common currencies vs monetary independence
Rioux, Laurence, INSEE & Verdier, Thierry. Human capital, local labor markets and regional integration
Depressions Room: Alcázar
Cole, H., Federal Reserve Bank of Minneapolis & Ohanian, Lee. New deal policies and the persistence of the great depression: A general equilibrium analysis
Portier, Franck, Université de Toulouse. Anatomy of a recession: France 1993 and the Maastricht hypothesis A second look
Fisher, Jonas, Federal Reserve Bank of Chicago & Hornstein, Andreas. Evidence on the great depression in Germany
Chatterjee, Satyajit & Corbae, D. The welfare gains of eliminating a depression-like state
Monetary Policy Room: San Antonio
Sill, Keith, Federal Reseve Bank of Philadelphia & Wrase, J. Exchange rates and monetary policy regimes in Canada and the US
Dedola, Luca, Bank of Italy. Time consistent monetary policy in a dynamic optimizing model
Uhlig, Harald, CentER, Tilburg University and CEPR, Stanford University. Should we be afraid of Friedman�s rule?
Krueger, Dirk, Stanford University & Conesa, Juan Carlos. Optimal monetary policy in an endogenously segmented markets model without commitment
Determinacy of Equilibrium Room: Belén
Ben-Gad, Michael, U of Houston. Indeterminacy and sector-specific externalities in the endogenous growth model
De Fiore, Fiorella, European Central Bank. Indeterminacy and the short run non-neutrality of money
Herrendorf, Berthold, Universidad Carlos III de Madrid & Valentinyi, Ákos. Determinacy with heterogeneous skills and increasing returns
Russell, Steven, IUPUI. A sunspot equilibrium model of debt refinancing crises
Dynamic Contracts Room: Juan Vásquez de Coronado A+B
Hopenhayn, Hugo, University of Rochester. Dynamic incentives with self-selection
Kultti, Klaus, Helsinki School of Economics & Takalo, T. A search model of intellectual property protection
Llobet, Gerard, Universit of Rochester & Hopenhayn, Hugo, and Mitchell, Matthew. Rewarding sequential innovators: patents, prizes and buyouts
Doepke, Matthias, University of Chicago & Townsend, Robert M. The hidden-storage problem
Structural Estimation of Dynamic Models Room: Cabildo III
Jacobs, K, McGill. Estimating nonseparable preference specifications for asset markets participants
Khwaja, Ahmed, U of Pennsylvania. A Dynamic Stochastic Model of Health Insurance and Health Production: A Framework for Estimating Health Production Functions and Evaluating (Counter-factual) Health Policies?
Adda, Jérôme, University College London & Dustmann, Christian. A dynamic model of return migration
Mira, Pedro, CEMFI & Aguirregabiria, Victor. Swapping the nested fixed point algorithm: A class of estimators for discrete Markov decision models
Session VI: Friday, June 30, 3:45 PM
Empirical Labor Room: Juan Vásquez de Coronado C
Neri, Marcelo, Getulio Vargas. Dynamics of self-employment
Schivardi, F, Bank of Italy & Guiso, L. Information spillovers and factor adjustment
Vekker, Alex, U of Pennsylvania & Morris, M. Is temporary employment growing in the US?
Débrand, Thierry, U Paris II. Dynamic labor demand and gross job flows: An estimation from a French panel data set
On money matching Room: Juan Vásquez de Coronado F
Renero, Juan, ITAM. May the worst commodity standard be the best? A re-enactment of the “crimes of 1873”
Berentsen, Aleksander, Universitaet Bern. Time-consistent private supply of outside paper money
Rocheteau, Guillaume, HEC University of Lausanne & Lotz , Sébastien. How to launch a new currency? Lessons from a simple random matching model
Kennan, John, University of Wisconsin & Katzman, Brett, and Wallace, Neil. Optimal monetary impulse-response functions in a matching model
Price Adjustment Room: Cabildo III
Aguirregabiria, University of Chicago. Prices and inventories in the equilibrium of an oligopolistic retail market
Eden, Benjamin, University of Haifa. Inflation and price adjustment: An analysis of micro data
Bakhshi, Hasan, Bank of England. Inflation and relative price variability
Bar, Michael, U of Haifa. Money, prices, inventories and output: calibrating a model of sequential trade
Vintage Capital Room: Juan Vásquez de Coronado G+H
King, Ian, U of Victoria & Kennedy, P. Economic progress and skill obsolescence
Iacopetta, Maurizio, NYU. Can the general purpose technology approach explain the 70s?
Puch, Luis A., Universidad Complutense de Madrid. Analytical and numerical methods for the study of vintage capital models
de la Croix, David, IRES � Université Catholique de Louvain & Boucekkine, Raouf and Licandro, Omar. Vintage human capital, demographic trends and endogenous growth
Recursive mechanism design Room: Belén
Lustig, Hanno, Stanford University. Secure lending and asset prices
Zhao, Rui, University of Chicago. The optimal unemployment insurance contract: Why a replacement ratio?
Yeltekin, Sevin, Northwestern University & Sleet,Christopher. Dynamic labor contracts with temporary layoffs and permanent separations
Garriga, Carlos, Universitat de Barcelona. Welfare implications of redistributive taxation: An optimal taxation approach
Central Bank Policy Room: Alcázar
Haslag, Joe, Federal Reserve Bank of Dallas & Bhattacharya, J. Central bank responsibility, seignorage, and welfare
Salyer, Kevin, UC Davis & Van Gaasback, K. Liquidity models and monetary policy
Hughes -Hallet, A. & Piscitelli, Laura. Monetarists vs. economists: Will the single currency induce convergence in Europe
Bhattacharya, Joydeep, Iowa State. Inflation, real activity, and income distribution
Dynamic contracts Room: San Antonio
Labadie, Pamela, George Washington U. Intermediation with debt forgiveness in an equilibrium model with aggregate uncertainty
Roberds, William, Federal Reserve Bank of Atlanta & Kahn, C, and McAndrews, J. Settlement risk under gross and net settlement
Marcet, Albert, Universitat Pompeu Fabra & Marimon, Ramon. Recursive contracts with private information
Lehnert, Andreas, Board of Governors & Maki, D. The great American debtor: a model of household consumption, portfolio choice, and bankruptcy
Income distribution theory Room: Juan Vásquez de Coronado A+B
Zimmermann, Frederick, U of Washington & Carter, M. Asset smoothing, consumption smoothing and the reproduction of inequality under risk and subsistence constraints
Vannini, Marco, DEIS & Deidda, Luca. Availability of credit and capital accumulation
Morand, Olivier, U of Connecticut. Uncertain lifetimes, education, and inequality
Floden, Martin, Stockholm School of Economics. The effectiveness of government debt and transfers as insurance
Business Cycles Room: Cabildo I+II
McGrattan, Ellen, Federal Reserve Bank of Minneapolis. A case against sticky prices
Hansen, Gary D., UCLA & Prescott, Edward C. Capacity constraints, asymmetries, and the business cycle
Fernández-Villaverde, Jesús, Universityof Minnesota & Rubio-Ramirez, Juan. Bayesian methods for dynamic equilibrium models
Boileau, Martin, U of Colorado at Boulder & Normandin, M. Capacity utilization and the dynamics of business cycle fluctuations
Plennary Session #2: Friday June 30, 6:00 PM.
Guillermo Calvo, University of Maryland
Session VII: Saturday, July 1, 9:30 AM
Decentralized trade and currency substitution Room: Juan Vásquez de Coronado G+H
Li, Yiting, National Tsing Hua University, Taiwan. Private money and government regulations
Zhou, Ruilin, Federal Reserve Bank of Chicago & Green, Edward J. Money and the law of one price: the case without discounting
Camera, Gabriele, Purdue University & Winkler, Johannes. Stores, prices and currency substitution
Masters, Adrian, University of Essex & Muthoo, Abhinay. Price posting and renegotiation in a dynamic decentralized market
Estimation of Models with Heterogeneity Room: Juan Vasquez de Coronado D-E
Christensen, B, Aarhus U & Mortensen, D, Neumann, G, and Werwatz, A. A structural model of job separations
Nagypal, Eva, Stanford. Learning-by-doing vs. selection: can we tell them apart?
Seitz, Shannon, Western Ontario. Employment and the sex ratio in a two-sided model of marriage
Postel-Vinay, Fabien, INRA-LEA & Robin, Jean-Marc. Expertise or Experience: What rises pay?
Family economics Room: Alcázar
Caucutt, Elizabeth, University of Rochester & Guner, Nezih, and Knowles, John. Timing in births: A marriage market analysis
Greenwood, Jeremy, University of Rochester & Seshadri, Ananth
Rupert, Peter, Federal Reserve Bank of Cleveland & Greenwood, Jeremy
Olivetti, C University of Pennsylvania. Changes in women�s labor force participation: The effect of changing returns to experience
Monetary Policy Room: Juan Vásquez de Coronado C
Moran, Kevin, Bank of Canada & Hendry, S. Inside money creation and the transmission mechanism of monetary policy
Harrison, Richard, Bank of England & Batini, Nicoletta, Millard, Stephen. Monetary Policy Rules for an Open Economy
Pappa, Evi, Universitat Pompeu Fabra. Should the ECB and the FED coordinate their policies?
Teles, Pedro Banco de Portugal & Adão, Bernardino, Correia, Isabel. The monetary transmission: is it relevant for policy?
Search/matching Room: Juan Vásquez de Coronado F
Wong, Linda, SUNY at Binghamton. Structural estimation of matching models
Nielsen, Michael, Aarhus University. Wages, training and job turnover in a search-matching model
Crossley, Tom, McMaster University. Shocks, stocks and socks: Consumption smoothing and replacement of durables during an unemployment spell
van Vuuren, Aco, Free University, Amsterdam & van den Berg, Gerard. The effect of labor market frictions on wages
Consumption and Inequality Room: Cabildo III
Crossley, Tom, Australian National U & Browning, M. Household internal capital markets: simulation evidence
Benitez-Silva, Hugo, Yale. A joint model of labor supply and consumption decisions in a changing policy environment
Prasad, Eswar, IMF & Keane, M. Inequality and social safety nets in Poland during the economic transition
Perri, Fabrizio, New York University & Krueger, Dirk. Does income inequality lead to inequality in consumption? Empirical findings and a theoretical explanation
Firm Investment Room: Belén
Caggese, Andrea, London School of Economics. Investment irreversibility with financing constraints: Firms� heterogeneity and aggregate implications
Cuñat, Vicente, London School of Economics. Inter firm credit and industrial links
Jamet, Stephanie, Université de Paris I. Why does idiosyncratic uncertainty matter for economic growth?
Thomas, Julia, Carnegie Mellon University & Khan, Aubhik. Nonconvex factor adjustments and the business cycle: do nonlinearities matter?
Asset pricing Room: San Antonio
Johannes, Michael, University of Chicago. Jumps in interest rates: A nonparametric approach
Jeffrey, Andrew, Yale University. Nonparametric estimation of single factor Heath-Jarrow-Morton term structure models and a test for path independence
Piazzesi, Monika, Stanford University. An econometric model of the yield curve with macroeconomic jump effects
Shorish, Jamsheed, U of Aarhus & Peskir, G. Market forces and dynamic asset pricing
Learning Room: Juan Vásquez de Coronado A+B
Nyarko, Yaw, NYU & Schotter, A. An experimental study of belief learning using elicited beliefs
Bugamelli, Matteo, Bank of Italy. Entry, exit and learning
Bar-Isaac, Heski, London School of Economics. A strategic one-armed bandit: Self-confidence signals quality
Kawamura, Enrique, U de San Andres. Asset market and consumption dynamics with boundedly rational investors
Dynamics and growth Room: Cabildo I+II
Santos, Manuel & Ortigueira, Salvador. Equilibrium dynamics in a two-sector model with taxes
Quadrini, Vincenzo & Cooley, Thomas and Marimon, Ramon. Optimal financial contracts with limited enforceability and the macroeconomy
Ortigueira, Salvador, Cornell University. Equipment prices, human capital and economic growth
Deidda, Luca, University of Sassari, CRENoS and CIEE (SOAS, University of London). Stock market, financial intermediation and growth
Session VIII: Saturday July 1, 1:15 PM
Macro and idiosyncratic risk Room: Cabildo I+II
Obiols, F, ITAM. Incomplete markets, labor supply and capital accumulation
Athreya, Kartik, U of Iowa. Personal bankruptcy, consumption, and interest rates in an incomplete insurance economy
Panina, Maria, University of Iowa. The effect of liquidity constraints on savings and work decisions
Rios-Rull, José-Victor, University of Pennsylvania & Chatterjee, S. and Corbae, D. Bankruptcy and credit cards: Why people default so little
Wage Inequality Room: Juan Vásquez de Coronado C
Glâchant, Jerome, Université Evry. Technology adoption and inequality in a closed and competitive economy
Días, Antonia, Universidad de Alicante. Habit formation and needs: Implications on wealth distribution
Angeletos, George-Marios, Harvard & Calvet, L. Incomplete markets, growth and fluctuations
Domeij, David, Stockholm School of Economics. Klein, P/Accounting for Swedish wealth inequality
Policy in Open Economics Room: Juan Vásquez de Coronado F
Ljunge, Martin, Institute for International Economic Studies. Fiscal effects of changes in the efficiency of education
Artige, Lionel, Université Catholique de Louvain. Regional divergence and knowledge diffusion
Petrucci, Alberto, U del Molise & Phelps, E. Capital subsidies versus labor subsidies: a trade-off between capital and employment?
Piermartini, Roberta, University of Southampton. Trade liberalisation and growth: Market access advantage
Issues in Banking and Central Banking Room: Juan Vásquez de Coronado A+B
Chiang, Yeong-Yuh, National Chengchi University, Taiwan & Green, Edward J. Prices and intermediary coalitions in financial equilibrium
Martin, Antoine, Federal Reserve Bank of Minneapolis & Monnet, Cyril and Weber, Warren Costly banknote issuance and interest rates under the national banking system
Cetorelli, Nicola, Federal Reserve Bank of Chicago & Peretto, P. Oligopoly banking and capital accumulation
Ennis, Huberto, Cornell. Loanable funds, monitoring and banking
Business cycles in emerging economies Room: Alcázar
Perri, Fabrizio, NYU & Neumeyer, PA. Business cycles in emerging markets: the role of country risk
Eduardo Moron, U del Pacifico & Caceres, E, Saenz, P. Business cycles under alternative filters: a view from a developing economy
Robe, Michel, American U & Pallage, S. Foreign aid and the business cycle
Pallage, S, UQAM & Robe, M. On the welfare costs of business cycles in developing countries
Social security Room: Juan Vásquez de Coronado G+H
Le Garrec, Gilles, EUREQua, Université de Paris I. Social security, redistribution degree and growth
Gervais, Martin, Federal Reserve Bank of Richmond & Andolfatto, David. Social security, the payroll tax, and endogenous debt constraints
Bohn, Henning, University of California, Santa Barbara. Social security and demographic uncertainty: The risk-sharing properties of alternative policies
Galasso, Vincenzo, Universidad Carlos III de Madrid & Conde, Nacho. Early retirement
Demography Room: Cabildo III
Engineer, Merwan, U of Victoria & Welling, L Overlapping generations models of graded age-set societies: economics meets ethnography
Bütler, Monika, CentER Tilburg, DEEP-HEC Lausanne, CEPR. How much has anticipated aging contributed to the recent recession in Japan?
Peretto, Pietro, Duke & Connolly, M. Industrial revolutions and demographic transitions
Lagerlof, Nils-Petter, U of Sydney. From Malthus to modern growth: the three regimes revisited
Political Economy of Redistribution Room: Belén
Bearse, Peter, U of North Carolina & Glomm, G, and Ravikumar, B. Majority voting and means-tested vouchers
Beauchemin, Kenneth, SUNY Albany. Endogenous cycles: fertility and growth
Giannetti, Mariassunta, Bank of Italy. Financial Development, Skill Premia and international
Specialization
Bellettini, Giorgio, U di Bologna & Berti Ceroni, C. Income distribution, borrowing constraints and redistributive policies
Convergence vs Catch-up Room: San Antonio
Pigliaru, Francesco, U di Cagliari. Detecting technological catch-up in economic convergence
Desdoigts, Alain, EPEE, Université d’Evry-Val d’Essonne. Neoclassical convergence versus technological catch-up: A contribution for reaching a consensus
Easterly, William, World Bank & Levine, Ross. It�s not factor accumulation: Stylized facts and growth models
Castro, Rui, University of Rochester. Economic development and growth in the world economy
Session IX: Saturday July 1, 3:45 PM
Search/matching Room: Juan Vásquez de Coronado A+B
Burdett, Ken, Essex University. On-the-job search and trust
Chade, Hector, Arizona State University. Increasing returns in the value of information
Vroman, Susan, Georgetown University & Albrecht, James. Wage dispersion in a job search model with time-varying unemployment benefits
Porter, Nathan, U of Pennsylvania. Are the long-term unemployed stigmatized?
Asset pricing Room: Juan Vásquez de Coronado C
Luttmer, Erzo G.J., London School of Economics & Mariotti, Thomas. Subjective discount factors
Allais, Olivier, EUREQua. Local durability and long-run habit persistence: An evaluation
Brooks, Robin, IMF. What will happen to financial markets when the baby boomers retire?
Guvenen, Faith M., Carnegie Mellon University. Limitied stock market participation and the macroeconomy
International financial markets Room: Alcázar
Burstein, Ariel, Northwestern University & Neves, J, Rebelo, S. Distribution costs and real exchange rate dynamics during exchange-rate-based stabilizations
Eichenbaum, Martin, Northwestern University & Burnside, Craig and Rebelo, Sergio. On the undamentals of self fulfilling speculative attacks
Kubler, Felix, Stanford University & Geanakoplos, John. Financial security design, ex ante welfare, and dollar denominated debt
Jeske, Karsten, University of Minnesota. Adverse effects of financial market liberalization in an economy with limited enforcement
Time Series Estimation Room: Juan Vásquez de Coronado F
Issler, J V, Getulio Vargas. The importance of common-cyclical features in VAR analysis
Tambalotti, Andrea, Princeton. Estimating monetary policy regimes
Bunzel, Helle, Iowa State. Robust inference in models of cointegration
Mazzi, Gian Luigi, ESTAT & Barcellan, Roberto. A dynamic model-based approach to the estimation and forecasting of a monthly indicator of GDP
Optimal Taxation Room: Cabildo III
Kumar, Krishna, USC & Caucutt, E, and Imrohoroglu, S. Does the progressivity of taxes matter for economic growth?
Giordano, Raffaela, Bank of Italy. Optimal debt management under EMU
Reiter, Michael, Universitat Pompeu Fabra. The optimal nonlinear taxation of bequests in models with uninsurable income risk
Cassou, Steve, Kansas State University & Hamilton, Stephen F. Pollution abatement regulation, property rights and the political economy
Inequality Room: Cabildo I+II
Andolfatto, David, University of Waterloo & Ferrall, Christopher, and Gomme, Paul. Can human capital theory explain the distribution of earnings and income
Fernandez, Raquel, London School of Economics & Guner, N and and Knowles, J. Inequality, education, and marital sorting
Violante, Gianluca, University College London & Acemoglu, Daron and Aghion, Philippe. Deunionization, technical change and inequality
Lindquist, Matthew, Stockholm U. Wage compression and welfare in Sweden
Robustness in Dynamic Settings Room: Belén
Epstein, Larry, University of Rochester & Miao, J. A two-person dynamic equilibrium under ambiguity
Hansen, LP, University of Chicago & Cagetti, Marco, Sargent Thomas and Williams, Noah. Robustness and pricing when growth is hidden
Maenhout, Pascal J. , Harvard University. Robust portfolio rules and asset pricing
Urga, Giovanni, City University Business School & Lazarova, Stepana. Common stochastic trends and aggregation in heterogeneous panels
RBC & IRBC Room: San Antonio
Barinci, Jean-Paul, EUREQua, Université de Paris & Cheron, Arnaud. Business cycles in a finance constrained economy with arbitrarily small increasing returns
Pommeret, Aude, EUREQua. Stochastic growth and irreversibility
Hairault, Jean-Olivier, U de Paris I. Labor market search and international business cycles
Beier, Niels, U of Aarhus & Andersen, T. Noisy financial signals and persistent effects of nominal shocks in open economies
Optimal monetary policy Room: Juan Vásquez de Coronado G+H
Benassy, Jean-Pascal, CEPREMAP. Optimal monetary and fiscal policies in a monetary economy with wage and price rigidities
Khan, Aubhik, Federal Reserve Bank of Philadelphia & King, Bob and Wolman, Alex. Optimal monetary policy with monopolistic competition and sticky prices
Adão, Bernardino, Banco de Portugal & Correia, Isabel, Teles, Pedro. Gaps and triangles
Monacelli, Tommaso & Gali, Jordi. Optimal monetary policy and exchange rate volatility in a small open economy