THE SED 2007 ANNUAL MEETING IS ORGANIZED BY · Francisco Buera (Northwestern University) Ariel...

THE SED 2007 ANNUAL MEETING IS ORGANIZED BY

CERGE-EI

together with

THE CZECH NATIONAL BANK

and

THE CZECH ECONOMIC SOCIETY

THE SED GRATEFULLY ACKNOWLEDGES THE SPONSORSHIP OF

CSOB

CEZ

METROSTAV

The Conference is held under the auspices of Mr. Pavel Bem, Mayor of Prague.

PROGRAM CHAIRSRicardo Lagos (New York University)

Noah Williams (Princeton University)

SCIENTIFIC COMMITTEEGeorge Alessandria (Federal Reserve Bank of Philadelphia)

Michelle Alexopoulos (University of Toronto)

Manuel Amador (Stanford University)

George-Marios Angeletos (MIT)

Cristina Arellano (University of Minnesota)

Francisco Buera (Northwestern University)

Ariel Burstein (UCLA)

Ricardo de O. Cavalcanti (EPGE)

James Costain (Bank of Spain)

Carlos Eugenio da Costa (EPGE)

Chris Edmond (New York University)

Jan Eeckhout (University of Pennsylvania)

Liran Einav (Stanford University)

Jesus Fernandez-Villaverde (University of Pennsylvania)

Mikhail Golosov (MIT)

Gita Gopinath (Harvard University)

Nezih Guner (Universidad Carlos III de Madrid)

Christian Hellwig (UCLA)

Johannes Horner (Northwestern University)

Nir Jaimovich (Stanford University)

Dirk Krueger (University of Pennsylvania)

Rasmus Lentz (University of Wisconsin-Madison)

Igor Livshits (University of Western Ontario)

Maurizio Mazzocco (UCLA)

Guido Menzio (University of Pennsylvania)

Eva Nagypal (Northwestern University)

Tomoyuki Nakajima (Kyoto University)

Monika Piazzesi (University of Chicago)

Luigi Pistaferri (Stanford University)

Ronny Razin (LSE)

Stephen Redding (LSE)

Diego Restuccia (University of Toronto)

Yuliy Sannikov (University of California, Berkeley)

Martin Schneider (Federal Reserve Bank of Minneapolis)

Yongseok Shin (University of Wisconsin-Madison)

Carlos Urrutia (ITAM)

Gustavo Ventura (University of Iowa)

Amir Yaron (University of Pennsylvania)

WELCOME TO THE 2007 ANNUAL MEETING OF THE SOCIETY FOR ECONOMIC DYNAMICS!

We have a very exciting program for this years meeting. There are 360 papers in 90 sessions covering all areasof economics, and plenary addresses from Dilip Abreu (Princeton), Robert Shimer (Chicago) and Kenneth Wolpin (Penn). We had a record 1005 submissions and because of space limitations a number of very finepapers did not make it on the program.

Under the guidance of our past presidents Tom Sargent, Ed Prescott, Dale Mortensen, Tom Cooley, and Boyan Jovanovic all of you have helped our meetings grow from the first one (Minneapolis, June 1990) intothe large and intellectually significant affair they are today.

Putting together a meeting on such a large scale involves a lot of work. So, thanks go to the 40-member pro-gram committee who selected the papers in a timely manner. Our organization was greatly aided by the use of John Rust’s Conference-Maker software. A particular thanks go to our local organizers, Radim Bohacek and Michal Kejak, who pulled this all together. Our officers, Ellen McGrattan (Treasurer) and Christian Zimmer-mann (Secretary) also played a key role in setting things up on the U.S. end.

As you know, these meetings are costly endeavor. So, financial support from our sponsors is gratefully ac-knowledged.

Have a good time! Enjoy the conference and Prague.

With very best wishes,

Ricardo Lagos, David Levine, and Noah Williams

SED 2007 LOCAL INFORMATION

MEETING VENUEProfesni Dum

Faculty of Mathematics and Physics

Charles University

Malostranske namesti 25

110 00 Prague 1

Profesni Dum is located in Prague’s historical center in the Lesser Town on Malostranske namesti (Malos-transke Square). It is the big white building on the Malostranske Square. Most SED hotels are within 5-10 minute walk from Profesni Dum. Prague has a very good transportation system. The closest subway station isMalostranska (green line A), around 10 minutes walking distance. Trams number 12, 20, 22, 23 stop right in front of Profesni Dum. Public transportation runs till midnight (there are night trams available after that).

REGISTRATIONRegistration will be on the first floor of the Profesni Dum starting on Wednesday June 27 from 6pm and thenon every day of the conference from 9am till 6pm. In the Registration Packet you will find a program of theconference, maps, tips for restaurants and other useful information about Prague. Please do not hesitate to contact us at the Registration desk at any time for any additional help or information.

PILSNER URQUELL WELCOME RECEPTION The only real brewery in the world has donated a few kegs of beer for the Welcome Reception on WednesdayJune 27 at 7pm. The reception will be held in the Aula of the Profesni Dum on the first floor. Refreshmentsand food will be served too.

Before the Welcome Reception we organize a panel discussion for our main sponsor, the CSOB bank. If you have time please stop by to hear Ed Prescott, Zdenek Tuma (the Governor of the Czech National Bank) and Jan Lamser (CSOB) talking about banking regulation and the future of banking in general. The panel discus-sion will start in the Aula of the Profesni Dum at 4pm.

CONFERENCE PROGRAMProfesni Dum will host all plenary talks and parallel sessions. The plenary talks will be in the Aula; parallelsessions on the 1st, 2nd and 3rd floor. There will be signs and a map in the program.

PRESENTATIONSAll presentations will be from computer based projectors. Please bring your USB with your presentation in pdf or powerpoint format before your session to one of our students working in your room. You are welcome but you are not expected to bring your own notebook. We will not provide laser pointers.

COFFEE BREAKS AND LUNCHRefreshments during the coffee breaks and lunch will be served on the first floor of the Profesni Dum and in the Aula. We will also give you a map of local cafes, bars and restaurants. There is a restaurant downstairs inthe Profesni Dum where you can order food and drink on your own at any time.

COCKTAIL PARTYOn Thursday June 28 at 9pm, the Governor of the Czech National Bank, Mr. Zdenek Tuma, is hosting a cock-tail party at Senovazne namesti 30, Prague 1, the Czech National Bank main building. If you are registered for the cocktail, you will find an official invitation in your packet. A map in the Program and our students willhelp you to get there.

CONCERTOn Friday June 29 at 8:30pm, we prepared a special replacement for The Contractions concert. It is a popularlocal band called Sketa Fotr which plays great cover versions of great songs. The club Popocafepetl is 5 min-utes from Profesni Dum at Ujezd Street 19. You can see it at

www.popocafepetl.cz.

CONFERENCE DINNERThe conference dinner will be served on Saturday June 30 at 8:30 pm at Hergetova Cihelna (Cihelna 2b) with agreat view of Charles Bridge and the Vltava river. If you are registered you will find a invitation in your packet.It is a short walk from Profesni Dum and you can see the restaurant at www.cihelna.cz.

SOCCER GAMEThere will be a soccer game/tournament on Friday June 29 from 4:30–7:30 pm. You will find more informa-tion in the Packet. We could not find a regular size football field that would be available and close to down-town, so it will be on a smaller field 40x20 meters with artificial grass and smaller nets. Real football shoes areprohibited there, please bring tennis shoes instead.

INTERNET ACCESSProfesni Dum has a wi-fi network and a computer lab reserved for SED participants on the ground floor, roomSU2.

LOCAL ORGANIZERSYou can call the local organizers any time at their mobile phones:

Radim Bohacek, (+420) 775 379 336, or Michal Kejak, (+420) 606 551 042.

CONFERENCE SERVICES If you need help with accommodation, tours, and everything else in Prague, please contact Conference Part-ners Prague Ltd.

Sokolská 26

120 00 Prague 2

Czech Republic

Website: http://www.economicdynamics.org/sed2007.htm

Phone: + 420 224 262 108 -110

Fax: + 420 224 261 703

E-mail: [email protected]

[email protected]

TRANSPORTATIONBy Air

The cost of a taxi from the Ruzyně Airport to the City is approximately 20 EUR. We recommend taking a fixedfee taxi to downtown. There is also a CEDAZ shuttle bus service (the cost of one journey with one piece ofluggage is around 3 EUR). Timetable of the public shuttle bus service is available on the website: www.cedaz.cz . City bus No. 119 will take you from the airport to the subway station Dejvicka (green line A) which takes you to station Malostranska near Profesni Dum.

By Train and by Car

Prague can be easily reached by train as well as by car. If you arrive by train, you will find a metro station (lineC) at the Prague Main Station as well as at the Prague Holešovice Station.

City Transportation

Prague has a comprehensive network of City transportation consisting of metro, trams and buses. Single tickets can be purchased at most newspaper stands and the coin machines at metro stations. You can also purchase a pass for 1, 3 or 7 days. We recommend buying a ticket for 20 CZK, validate it in the tram/bus/metro and use it up to 60 minutes including transfers. Ask for more information and maps at the Registration Desk.

Car Rental

Most of the major car rental companies (Hertz etc.) have their offices in Prague. Detailed information is avail-able at the Registration Desk or please contact Conference Partners in advance.

CLIMATEJune and July bring usually nice summer weather with temperatures around 20 - 25°C.

CURRENCYThe official currency is Czech Crown (Kč). Present rate is approx. 21 CZK for 1 USD and 28 CZK for 1 EUR.Major credit cards are accepted in many shops, restaurants and hotels. You can buy Czech Crowns at banks and other authorized money exchange offices. Traveller cheques are acceptable only by leading banks.

VISASParticipants from most European countries and the USA can enter the Czech Republic without a visa. Other participants are advised to check the requirements at the closest Embassy or Consulate of the Czech Republic and to make their own arrangements. Detail information can be found on www.mzv.cz under English version, link “Travel and Living Abroad”.

INSURANCEThe organizers will not accept any liability for personal injuries or loss or damage of property belonging tocongress participants and accompanying persons. Kindly check your personal insurance.

ELECTRICITYIn the Czech Republic, the electricity supply is 220 V, 50 Hz. The plugs are like in Germany.

WARNINGPrague is generally a safe city. Nevertheless, be aware of pickpockets particularly in metro or trams, and of cheating by cab drivers: usual cab trip is up to 40Kc fixed fee plus 27Kc per kilometer. If your trip is in down-town, you should never pay more than 500Kc (20 EUR).

EMERGENCY NUMBERS IN CZECH REPUBLICGeneral 112, Ambulance 155, Police 158

SED 2007 TIME SCHEDULE

Time June 27-30, 2007

Location Profesní dům, Malostranské náměstí 25, Prague 1

CONFERENCE PROGRAM JUNE 28 -30, 2007

9:30 Refreshments

10:00-12:00 Parallel sessions

12:00-13:15 Lunch


15:15-15:45 Coffeebreak


17:45-18:00 Coffee break

18:00-19:30 Plenary talk

SPECIAL EVENTSWednesday, June 27

16:00 CSOB Panel Discussion on Banking

Jan Lamser (CSOB), Edward C. Prescott (ASU), Zdeněk Tůma (Governor CNB)

19:00 Pilsner Urquell Welcome Reception

Thursday, June 28

18:00-19:30 Plenary talk: Kenneth Wolpin (University of Pennsylvania)

21:00 Cocktail Party at the Czech National Bank

Senovážné naměstí 30, Prague 1

Friday, June 29:

16:30-19:30 Soccer game

18:00-19:30 Plenary talk: Dilip Abreu (Princeton University)

20:30- Concert, Club Popocafepetl

Újezd 19, Prague 1

www.popocafepetl.cz

Saturday, June 30:

18:00-19:30 Plenary talk: Robert Shimer (University of Chicago)

20:30 Dinner at Hergetova cihelna

Cihelná 2b, Prague 1

www.kampagroup.com

OVERVIEW OF PARALLEL SESSIONS

Thursday, June 28

10:00 – 12:00 13:15 – 15:15 15:45 – 17:45

Political Economy I S 9

Hiring and SeparationS 3

The Great Moderation: Changes in Aggregate Volatility

S 9

Markets and Mechanisms S 5

Optimal Dynamic PoliciesS 6

Capital Flows IS 7

Government Debt and Interest Rates

S 4

Household Intertemporal Decisions

S 9

Misallocation and Aggregate Productivity

S 11

Labor Market PoliciesS 6

International Trade IS 4

Information HeterogeneityS 6

Social Security and Intermediation

S 10

Cyclical Properties of Labor Markets

S 8

Mechanism Design, Money, and Banking

S 8

Neuroeconomics and Networks

S 11

Dynamic Models of Political Economy

S 5

Optimal Monetary PolicyS 4

Frictional Financial MarketsS 8

Long Run GrowthS 12

Consumer Credit S 12

Empirical Industrial Organization I

S 3

Money and LiquidityS 11

UnemploymentS 3

Establishment Dynamics and International Trade

S 7

Empirical Models with Micro Data

S 7

Asset Pricing and the Macroeconomy

S 5

Bayesian Methods in Macroeconomics

S 12

Nonexpected Utility and Asset Pricing

S 10

Recent Advances in Repeated Games

S 10


Friday, June 29

10:00 – 12:00 13:15 – 15:15 15:45 – 17:45

Empirical MacroeconomicsS 6

Learning in MacroeconomicsS 12

Dynamic Fiscal PoliciesS 6

International Trade IIS 9

Political Economy IIS 10

Capital Flows IIS 11

Investment, Volatility and Asset Pricing

S 7

Monetary TheoryS 9

Search Frictions in Labor and Product Markets

S 3

Labor Search and MatchingS 5

Growth and LiquidityS 8

Household Income RiskS 8

Incentives in a Multiperiod Environment

S 11

Labor Markets: Mobility, Productivity, Inequality

S 11

CNB Session: Macroeconomic Policy and Inflation Targeting

S 9

Price RigiditiesS 4

Empirical Industrial Organization II

S 3

Auctions, Search, and MatchingS 10

Productivity and Economic Development

S 3

Matching and BargainingS 6

Scale and the MacroeconomyS 4

Taxation and Political Economy

S 10

Commercial Policy, Trade and Welfare

S 7

Innovation and GrowthS 7

EducationS 12

Sovereign Debt and Portfolio Flows

S 5

Credit Market ImperfectionsS 12

Understanding Business Cycles Past and Present

S 8

Optimal Employment Contracts with Frictions

S 4

HousingS 5


Saturday, June 30

10:00 – 12:00 13:15 – 15:15 15:45 – 17:45

ProductivityS 4

Capital Flows IIIS 7

The Dynamics of Beliefs: Theory and Applications

S 3

The Economics of NetworksS 5

Price CompetitionS 3

Empirical Monetary EconomicsS 6

Business CyclesS 12

Bankruptcy, Collateral, and Default

S 10

Labor SearchS 9

Human Capital and Wage Dynamics

S 8

Economics of Energy and Non-renewable Resources,

Supported by CEZ S 9Life Cycle

S 4

InflationS 6

Risk SharingS 5

Prices and PricingS 5

Long-run Risks and the Macroeconomy

S 9

The Labor Supply of Women and Wage Inequality

S 4

Liquidity and Financial Frictions

S 10

Real Effects of Financial Crises

S 7

Bubbles and ExpectationsS 11

Firm FinancingS 8

Normative Studies of Government Policy

S 11

Monetary PolicyS 12

Great DepressionsS 11

Applied TheoryS 10

InvestmentS 6

International Dimensions of Fiscal and Monetary Policy

S 7

Taxes and Tax ReformS 3

Dynamic ContractsS 8

Growth and DevelopmentS 12

COMPLETE LIST OF ALL SESSIONS

June 28, 2007, 10:00 – 12:00Session 1: Political Economy I Location: S9

Thomas Cooley, New York UniversityThe Farm, The City, and the Emergence of Social Security

Dirk Niepelt, Study Center Gerzensee Sustaining Social Security

Francesco Caselli, London School of EconomicsOn the theory of ethnic conflict

Fabrizio Zilibotti, University of ZurichRotten Parents and Disciplined Children: A Politico-Economic Theory of Public Expenditure and Debt

Session 2: Markets and Mechanisms Location: S 5

Nicolas Petrosky-Nadeau, Universite du Quebec a MontrealThe Macroeconomic Dynamics of Labor and Capital Market Imperfections

Pamela Labadie, George Washington UniversityAnonymity and Individual Risk

Roc Armenter, Federal Reserve Bank of New YorkIntertemporal Distortions and Second Best Theory

Giuseppe Moscarini, Yale UniversityOptimal Dynamic Contests

Session 3: Government Debt and Interest Rates, Supported by CSOB Location: S 4

Monika Piazzesi, University of ChicagoBond Supply, Expectations, and the Yield Curve

Francisco Gomes, London Business School Fiscal Policy, Asset Pricing and Economic Activity in a Savers-Spenders Economy

François Le Grand, PSEIncomplete markets and the yield curve

Juha Seppala, University of Illinois Monetary Policy, Expected Inflation, and Inflation Risk Premium

Session 4: Labor Market Policies Location: S 6

Markus Poschke, European University Institute, FlorenceEmployment protection, firm selection, and growth

Christian Zimmermann, University of Connecticut Unemployment Benefits vs. Unemployment Accounts: A Quantitative Exploration

Yuzhe Zhang, University of Iowa Optimal Unemployment Insurance with Hidden Trade

Christopher Flinn, New York University On-the-Job Search, Minimum Wages, and Labor Market Outcomes in an Equilibrium Bargaining Framework

June 28, 2007, 10:00 – 12:00Session 5: Social Security and Intermediation Location: S 10

Remzi Kaygusuz, The Pennsylvania State University Social Security and Two-Earner Households

Mikel Pérez-Nievas, Universidade de Santiago de Compostela Millian efficiency with endogenous fertility

Piero Gottardi, University of VeniceSocial Security and Risk Sharing

Tiago Cavalcanti, Universidade Nova de LisboaOn the Welfare and Distributional Implications of Intermediation Costs

Session 6: Neuroeconomics and Networks Location: S 11

Attila Ambrus, Harvard UniversityRisk-sharing agreements on social networks

Daniel Houser, George Mason UniversityCombining brain and behavioral data to improve econometric policy analysis

Kerstin Preuschoff, California Institute of Technology Human Imagination in Financial Markets with Insiders

Aldo Rustichini, University of Minnesota Choice, Social Norms and Intelligence

Session 7: Frictional Financial Markets Location: S 8

Ricardo Lagos, New York University Crashes and Recoveries in Illiquid Markets

Adam Ashcraft, Federal Reserve Bank of New York Over the Counter Search Frictions: A Case Study of the Federal Funds Market

Peter Kondor, University of Chicago Emerging Economies and Fund Managers

Chris Edmond, New York University Asset Prices and the Composition of Consumption

Session 8: Empirical Industrial Organization I Location: S 3

Susan Athey, Harvard UniversitySet-Asides and Subsidies in Auctions

Jakub Kastl, Stanford UniversityTesting for Common Valuation in Treasury Bills Auctions

Aviv Nevo, Northwestern UniversityThe Pricing of Academic Journals

Liran Einav, Stanford UniversityLiquidity Constraints and Their Causes: Evidence from Subprime Lending

June 28, 2007, 10:00 – 12:00Session 9: Establishment Dynamics and International Trade Location: S 7

Kim Ruhl, University of Texas AustinMeasuring export entry costs

Stephen Redding, London School of EconomicsMulti-product Firms and Trade Liberalization

Amit Khandelwal, ColumbiaThe Long and Short (of) Quality Ladders

George Alessandria, Federal Reserve Bank of PhiladelphiaChanges in U.S. Exporter Participation and Trade Costs

Session 10: Bayesian Methods in Macroeconomics Location: S 12

Pooyan Amir Ahmadi, Humboldt UniversityMeasuring Monetary Policy: A Bayesian FAVAR Approach with Agnostic Identification

Zheng Liu, Emory UniversityMacroeconomic Volatility and Monetary Policy Regimes

Sergey Slobodyan, CERGE-EILearning dynamics in an estimated medium-sized DSGE model

Marco Del Negro, FRB Atlanta-ResearchForming Priors for DSGE Models (and How It Affects the Assessment of Nominal Rigidities)

June 28, 2007, 13:15 – 15:15Session 11: Hiring and Separation Location: S 3

Amil Petrin, University of ChicagoJob Security Does Affect Economic Efficiency, Theory, A New Statistic, and Evidence from Chile

Kangwoo Park, Seoul National UniversityLabor-Market Implications of Contracts under Moral Hazard

Arnaud Chéron, GAINSJob creation and job destruction over the life cycle

James Costain, Bank of SpainHiring, separation, and real downward wage rigidity in European economies

Session 12: Optimal Dynamic Policies Location: S 6

François Langot, CEPREMAPOptimal unemployment insurance in a life cycle model

Fernando Martin, Simon Fraser UniversityDynamic Optimal Insurance and Lack of Commitment

Richard Dennis, Federal Reserve Bank of San FranciscoModel Uncertainty and Monetary Policy

Stefania Albanesi, ColumbiaOptimal Dynamic Taxation of Households: Insurance, Incentives and Commitment

Session 13: Household Intertemporal Decisions Location: S 9

Jessica Wachter, The Wharton SchoolWhy do Household Portfolio Shares Rise in Wealth?

Luigi Pistaferri, Stanford UniversityDisability shocks and consumption behavior

Thijs van Rens, CREI and Universitat Pompeu FabraCyclical Skill-Biased Technological Change

Giovanni Luca Violante, New York UniversityConsumption and Labor Supply with Partial Insurance: An Analytical Framework

Session 14: International Trade I Location: S 4

Thomas Chaney, The University of ChicagoLiquidity Constrained Exporters

Veronica Rappoport, Columbia Business SchoolThe Return to Multinational Production and “Global Imbalances”

Gino Gancia, CREI and UPFOn Globalization and the Growth of Governments

Gita Gopinath, HarvardPassthrough at the Dock: Pricing to Currency and to Market?

June 28, 2007, 13:15 – 15:15Session 15: Cyclical Properties of Labor Markets Location: S 8

Antonella Trigari, IGIER, Università BocconiAn Estimated Monetary DSGE Model with Unemployment and Staggered Nominal Wage

Leena Rudanko, University of ChicagoIdiosyncratic and Aggregate Risk in a Frictional Labor Market

Pedro Silos, Federal Reserve Bank of AtlantaUninsurable Individual Risk and the Cyclical Behavior of Unemployment and Vacancies

Eran Yashiv, Tel Aviv UniversityU.S. Labor Market Dynamics and the Business Cycle

Session 16: Dynamic Models of Political Economy Location: S 5

Leopold von Thadden, European Central BankOn policy interactions among nations: when do cooperation and commitment matter ?

Irina Yakadina, IMFPolitically Optimal Fiscal Policy

Davide Debortoli, Universitat Pompeu FabraPolitical Disagreement, Lack of Commitment and the Level of Debt

Marco Battaglini, Princeton UniversityA Dynamic Theory of Public Spending, Taxation and Debt

Session 17: Long Run Growth Location: S 12

Fidel Perez Sebastian, University of AlicanteThe Role of Land Along the Development Path

Ani Guerdjikova, Cornell UniversityPrivate Incentives versus Class Interests: Implications for Growth

Xiaodong Zhu, University of TorontoModernization of Agriculture and Long Term Growth

Akos Valentinyi, University of SouthamptonGrowth and Structural Transformation

Session 18: Money and Liquidity Location: S 11

Pietro Senesi, Università di NapoliMoney and nominal bonds

Ping He, University of Illinois, ChicagoMoney, Banking, and Monetary Policy

Adrian Peralta-Alva, University of MiamiOptimal Monetary and Fiscal Policies in a Search Theoretic Model of Monetary Exchange

Irina Telyukova, University of California San DiegoHousehold Need for Liquidity and the Credit Card Debt Puzzle

June 28, 2007, 13:15 – 15:15Session 19: Empirical Models with Micro Data Location: S 7

Joao Ejarque, University of EssexIdentifying Adjustment Costs of Net and Gross Employment Changes

Marco Cozzi, University College LondonHard Drugs Addiction, Drug Violations and Property Crimes in the US

Aureo De Paula, University of PennsylvaniaThe Informal Sector

Andrea Tiseno, Banca D’ItaliaFinancial markets participation, entry costs and unobserved heterogeneity of expectations

Session 20: Nonexpected Utility and Asset Pricing Location: S 10

Bryan Routledge, Carnegie Mellon UniversityRecursive Risk Sharing: Microfoundations for Representative-Agent Asset Pricing

Irasema Alonso, Yale UniversityAmbiguity Aversion and the Welfare Costs of Business Cycles

Gian Luca Clementi, Stern School of BusinessAsset Pricing in a General Equilibrium Production Economy with Chew-Dekel Risk Preferences

Sydney Ludvigson, New York UniversityAn Estimation of Economic Models with Recursive Preferences

June 28, 2007, 15:45 – 17:45Session 21: The Great Moderation: Changes in Aggregate Volatility Location: S 9

Fabrizio Perri, New York UniversityThe “great moderation’’ and the US external imbalance

Vincenzo Quadrini, USCFinancial Innovations and Macroeconomic Volatility

Giorgio Primiceri, Northwestern UniversityMacroeconomic Volatility, Learning, and the Term Structure of Interest Rates

Nir Jaimovich, StanfordThe Young, the Old, and the Restless: Demographics and Business Cycle Volatility

Session 22: Capital Flows I Location: S 7

Natalia Ramondo, University of Texas at AustinTrade, Multinational Production, and the Gains from Openness

Bent Sorensen, University of HoustonWhy Does Capital Flow to Rich States?

Doireann Fitzgerald, Stanford UniversityTrade Costs, Asset Market Frictions and Risk Sharing

Mark Wright, Stanford UniversityThe Efficiency and Mobility of International Capital Flows: 1950-2006

Session 23: Misallocation and Aggregate Productivity Location: S 11

Juan Sanchez, University of RochesterFinancing Development: The Role of Information Costs

Felipe Meza, Universidad Carlos III de MadridTotal Factor Productivity and Labor Reallocation: The Case of the Korean 1997 Crisis

Amartya Lahiri, University of British ColumbiaIncome Disparities Across Indian States

Eric Bartelsman, Vrije UniversiteitCross Country Differences in Productivity: The Role of Allocative Efficiency

Session 24: Information Heterogeneity Location: S 6

Gianluca Femminis, Università Cattolica, MilanoThe Social Value of Public Information with Costly Private Information

Kristoffer Nimark, Reserve Bank of AustraliaDynamic Higher Order Expectations

In Ho Lee, Seoul National UniversityA Model of Dynamic Information Aggregation with Uninformed Rational Agents

Sven Rady, University of MunichStrategic Experimentation with Poisson Bandits

June 28, 2007, 15:45 – 17:45Session 25: Mechanism Design, Money, and Banking Location: S 8

Ted Temzelides, University of PittsburghMechanism design and Payments

David Andolfatto, Simon Fraser UniversityMoral Hazard in the Diamond-Dybvig Model of Banking

Todd Keister, Federal Reserve Bank of New YorkCommitment and Equilibrium Bank Runs

Ed Nosal, Federal Reserve Bank of ClevelandCounterfeiting as Private Money in Mechanism Design

Session 26: Optimal Monetary Policy Location: S 4

Eric Swanson, Federal Reserve Bank of San FranciscoOptimal Time-Consistent Monetary Policy in the New Keynesian Model with Repeated Simultaneous Play

Rochelle Edge, Federal Reserve BoardWelfare-Maximizing Monetary Policy under Parameter Uncertainty

Tack Yun, Federal Reserve BoardStrategic Complementarities and Optimal Monetary Policy

Andrea Tambalotti, Federal Reserve Bank of New YorkThe Normative Implications of Heterogeneity in the Frequency of Price Adjustment

Session 27: Consumer Credit Location: S 12

Kartik Athreya, Federal Reserve Bank of RichmondUnsecured Credit and Self-Employment

Wenli Li, Federal Reserve Bank of PhiladelphiaA Structural Model of Chapter 13 Personal Bankruptcy

Winfried Koeniger, IZAIncomplete Markets and the Evolution of US Consumer Debt

Jim MacGee, University of Western OntarioCredit Scoring and Endogenous Stigma

Session 28: Unemployment Location: S 3

Ronald Wolthoff, Vrije Universiteit AmsterdamStructural Estimation of Search Intensity: Do non-employed workers search hard enough?

William Hawkins, University of RochesterEquilibrium Unemployment in a Generalized Search Model

Michael Reiter, Universitat Pompeu FabraThe relevance of capital and savings for labor market fluctuations

Aleksander Berentsen, University of BaselInflation and unemployment: Lagos-Wright meets Mortensen-Pissarides

June 28, 2007, 15:45 – 17:45Session 29: Asset Pricing and the Macroeconomy Location: S 5

Martin Schneider, New York UniversityBooms and Busts in Segmented Asset Markets

Chao Wei, George Washington UniversityInflation and Stock Prices: No Illusion

YiLi Chien, Purdue UniversityMacro Implications of Household Finance

Harald Uhlig, Humboldt University BerlinExplaining Asset Prices with External Habits and Wage Rigidities in a DSGE Model

Session 30: Recent Advances in Repeated Games Location: S 10

George Mailath, Yale UniversityPurification in the Infinitely-Repeated Prisoners’ Dilemma

Ichiro Obara, UCLAFinite State Equilibria in Dynamic Games

Tadashi Sekiguchi, Kyoto UniversityThe Folk Theorem for Repeated Games with Observation Costs

Johannes Hörner, Northwestern UniversityPrivate Monitoring without Conditional Independence

June 28, 2007, 18:00 – 19:30Session 31: Plenary Session 1 AULA

Kenneth Wolpin, University of PennsylvaniaPlenary Session

June 29, 2007, 10:00 – 12:00Session 32: Empirical Macroeconomics Location: S 6

Barbara Rossi, Duke UniversityInformation Criteria for Impulse Response Function Matching Estimation

Neville Francis, University of North CarolinaMeasures of Per Capita Hours and their Implications for the Technology-Hours Debate

Robert Vigfusson, Federal Reserve BoardThe Power of Long-Run VARs

Lorenzo Forni, Bank of ItalyThe general equilibrium effects of fiscal policy: estimates for the euro area

Session 33: International Trade II Location: S 9

Jonathan Eaton, New York UniversityUnbalanced Trade

Michael Waugh, University of IowaInternational Trade and Income Differences

Ananth Ramanarayanan, University of MinnesotaInternational Trade Dynamics with Intermediate Inputs

Prakash Kannan, International Monetary FundOn The Welfare Benefits Of An International Currency

Session 34: Investment, Volatility and Asset Pricing Location: S 7

Motohiro Yogo, University of PennsylvaniaDurability of Output and Expected Stock Returns

Lars-Alexander Kuehn, University of British ColumbiaTime-to-Build and Asset Prices

Roméo Tédongap Nguefack, Université de MontréalConsumption Volatility and the Cross-Section of Stock Returns

Jordi Mondria, University of TorontoThe Puzzling Evolution of the Home Bias, Information Processing and Financial Openness

Session 35: Labor Search and Matching Location: S5

Gabriel Felbermayr, Eberhard Karls University, TuebingenProduct Market Regulation, Firm Selection and Unemployment

Bjoern Bruegemann, Yale UniversityThe Joint Effect of Firing Costs on Employment and Productivity in Search and Matching Models

Jason Faberman, Bureau of Labor StatisticsThe Effect of Quits on Worker Recruitment: Theory and Evidence

Dale Mortensen, Northwestern UniversityIsland Matching

June 29, 2007, 10:00 – 12:00Session 36: Incentives in a Multiperiod Environment Location: S 11

Ayca Kaya, University of IowaWhen does it pay to get informed?

In-Koo Cho, University of IllinoisPerishable Durable Goods

Mark Westerfield, University of Southern CaliforniaDisagreement and Learning in a Dynamic Contracting Model

Arantxa Jarque, Universidad de AlicanteOptimal CEO Compensation and Option Repricing

Session 37: Price Rigidities Location: S 4

Jonathan Willis, Federal Reserve Bank of Kansas CityReal Rigidities and Nominal Price Changes

Lukasz Drozd, University of MinnesotaUnderstanding International Prices: Customers as Capital

Jon Steinsson, Harvard UniversityMonetary Non-Neutrality in a Multi-Sector Menu Cost Model

Christian Hellwig, University of California Los AngelesPrices and Market Shares in a Menu Cost Model

Session 38: Productivity and Economic Development Location: S 3

Andres Rodriguez-Clare, PSUTrade, Diffusion and the Gains from Openness

Hyeok Jeong, University of Southern CaliforniaSources of TFP Growth: Occupational Choice and Financial Deepening

Riccardo DiCecio, Federal Reserve Bank of St. LouisHeterogeneous Firms, Productivity, and Poverty Traps

Yongseok Shin, University of WisconsinFinancial Frictions and the Persistence of History: A Quantitative Exploration

Session 39: Taxation and Political Economy Location: S 10

Alessandro Riboni, University of MontréalStatute Law or Case Law?

Marina Azzimonti Renzo, University of IowaStarving the Leviathan: a Dynamic Analysis of Fiscal Constitutions

Catarina Reis, MITTaxation without Commitment

Assaf Razin, Tel Aviv UniversityThe Survival of Social Security and Immigration

June 29, 2007, 10:00 – 12:00Session 40: Education Location: S 12

Hui He, University of MinnesotaSkill Premium, Schooling Decisions, Skill-Biased Technological and Demographic Change: A Macroeconomic Analysis

Mario Fiorini, University College LondonFostering Educational Enrolment Through Subsidies: the Issue of Timing

Todd Schoellman, Stanford UniversityThe Causes and Consequences of Cross-Country Differences in Schooling Attainment

Lutz Hendricks, Iowa State UniversityEducational Attainment in U.S. Cities

Session 41: Understanding Business Cycles Past and Present Location: S 8

Isabel Correia, Banco de PortugalMonetary Policy with Single Instrument Feedback Rules.

Franck Portier, Universite de ToulouseThe International Propagation of News Shocks

Huw Lloyd-Ellis, Queens UniversityIntrinsic Business Cycles

Michelle Alexopoulos, University of TorontoBelieve it or not! The 1930s was a technologically progressive decade

June 29, 2007, 13:15 – 15:15Session 42: Learning in Macroeconomics Location: S 12

Aarti Singh, Washington UniversityLearning and the Great Moderation

Kenneth Kasa, Simon Fraser UniversityLearning and Model Validation

Dmitri Kolyuzhnov, Charles University-Academy of SciencesOptimal Monetary Policy Rules: The Problem of Stability under Heterogeneous Learning

Stefano Eusepi, Fedral Reserve Bank of New YorkAdaptive Learning as a Propagation Mechanism

Session 43: Political Economy II Location: S 10

Pohan Fong, Concordia UniversityBargaining Frictions and the Ratchet Effect of Government Spending

Hulya Eraslan, University of PennsylvaniaStrategic Voting over Strategic Proposals

Allan Drazen, University of MarylandElectoral Economics in New Democracies: Affecting Attitudes About Democracy

Igor Livshits, University of Western OntarioGreed as a Source of Polarization

Session 44: Monetary Theory Location: S 9

Ricardo Cavalcanti, University of TorontoOn the Optimum Distribution of Money

Daniela Puzzello, University of KentuckyCommodity money and multilateral meetings

Christopher Waller, University of Notre DameThe Societal Benefits of Outside versus Inside Bonds

Narayana Kocherlakota, University of MinnesotaMoney and Credit: An Equivalence Result and Its Implications

Session 45: Growth and Liquidity Location: S 8

Antoine Martin, Federal Reserve Bank of New YorkLiquidity saving mechanisms

Francesca Carapella, University of Minnesota, Minneapolis FEDBank runs in a dynamic general equilibrium framework

Juan Cordoba, Rice UniversityThe Role of Education in Development

Aubhik Khan, Federal Reserve Bank of PhiladelphiaEntrepreneurship with borrowing constraints in a model of economic development

June 29, 2007, 13:15 – 15:15Session 46: Labor Markets: Mobility, Productivity, Inequality Location: S 11

Nicola Fuchs-Schuendeln, Harvard UniversityExplaining the Low Labor Productivity in East Germany - A Spatial Analysis

Damba Lkhagvasuren, Northwestern UniversityBig Locational Differences in Unemployment Despite High Labor Mobility

Guillaume Horny, BETA-CNRSJob mobility in Portugal: a Bayesian study with matched worker-firm data

Burhanettin Kuruscu, University of Texas at Austin and University of Western OntarioPolitico-Economic Consequences of Rising Wage Inequality

Session 47: Empirical Industrial Organization II Location: S 3

Jaap Abbring, Vrije UniversiteitBetter Safe than Sorry? Ex Ante and Ex Post Moral Hazard in Dynamic Insurance

Jean-François Houde, University of Wisconsin-MadisonSpatial Differentiation in Retail Markets for Gasoline

Alan Sorensen, Stanford UniversityTicket Resale

Aamir Hashmi, National U of Singapore and U of TorontoMarket Structure and Innovation: A Dynamic Analysis of the Global Automobile Industry

Session 48: Matching and Bargaining Location: S 6

Philipp Kircher, University of PennsylvaniaEfficiency of Directed Search

Andrzej Skrzypacz, Stanford UniversityBargaining with Arrival of New Traders

Stephan Lauermann, Bonn Graduate School of EconomicsDynamic Matching and Bargaining Games: A General Approach

Andrew Postlewaite, University of PennsylvaniaPricing in Matching Markets

Session 49: Commercial Policy, Trade and Welfare Location: S 7

Horag Choi, The University of AucklandWelfare Gains to Trade Reform under Firm Heterogeneity

Costas Arkolakis, University of Minnesota and Yale UniversityMarket Access Costs and the New Consumers Margin in International Trade

Svetlana Demidova, The University of GeorgiaExport Subsidies, Productivity and Welfare under Firm-Level Heterogeneity

Giammario Impullitti, IMT Lucca and EUI FlorenceInternational Technological Competition and Optimal R&D Subsidies in the US: 1973-1990

June 29, 2007, 13:15 – 15:15Session 50: Sovereign Debt and Portfolio Flows Location: S 5

Manuel Amador, Stanford UniversitySovereign Debt and the Tragedy of the Commons

David Benjamin, University of SouthamptonA Theory of Delay in Sovereign Defaults Based on Limited Commitment

Alan Sutherland, University of St AndrewsCountry Portfolio Dynamics

Robert Kollmann, Free University of BrusselsReturn Volatility and International Portfolio Choice

Session 51: Optimal Employment Contracts with Frictions Location: S 4

Xue Qiao, Iowa State UniversityUnemployment Insurance in a Dynamic Economy with Endogenous Layoffs

Lodewijk Visschers, University of PennsylvaniaEmployment Uncertain and Wage Contracts

Mariassunta Giannetti, Stockholm School of EconomicsFighting for Talent: Risk-Taking, Corporate Volatility, and Organizational Change

Eva Nagypal, Northwestern UniversityJob-to-job transitions and wage dynamics

June 29, 2007, 15:45 – 17:45Session 52: Dynamic Fiscal Policies Location: S 6

Vasia Panousi, MITRevisiting the Supply-Side Effects of Government Spending Under Incomplete Markets

Marek Kapicka, University of California Santa BarbaraOptimal Human Capital Policies

Pricila Maziero, University of Minnesota and Federal Reserve Bank of MinneapolisAccounting for private information

Veronica Guerrieri, University of Chicago, GSBLiquidity and Spending Dynamics

Session 53: Capital Flows II Location: S 11

Cristina Arellano, University of MinnesotaEnforcement, Incomplete Contracts, and Firm Dynamics

Enrique G. Mendoza, University of MarylandFinancial Integration, Financial Deepness and Global Imbalance

Bernardo Guimaraes, London School of EconomicsOptimal external debt and default

Mark Aguiar, University of RochesterEfficient Expropriation

Session 54: Search Frictions in Labor and Product Markets Location: S 3

Aysegul Sahin, Federal Reserve Bank of New YorkThe Aggregate Implications of Indivisible Labor, Incomplete Markets and Search Frictions

Yongsung Chang, Seoul National University

Bulent Guler, University of Texas at AustinJoint Search: New Opportunities and New Frictions

Guido Menzio, University of PennsylvaniaDynamic Pricing in a Frictional Product Market

Session 55: Household Income Risk Location: S 8

Anthony Smith, YaleInferring Labor Income Risk from Economic Choices: An Indirect Inference Approach

Karsten Jeske, Federal Reserve Bank of AtlantaRisk-Sharing: The Importance of Health Expenditure Shocks

Anna Batyra, Catholic University of LouvainAre turbulences of Sargent and Ljungqvist consistent with lower aggregate volatility of Stock and Watson?

Paulo Monteiro, Université Libre de BruxellesFamily Labor Supply, Precautionary Behavior, Aggregate Saving and Employment

Comparative Advantage in Cyclical Unemployment

June 29, 2007, 15:45 – 17:45Session 56: CNB Session: Macroeconomic Policy and Inflation Targeting Location: S 9

Jan Bruha, Czech National BankInquiries on Dynamics of Transition Economy Convergence in a Two-Country Model

Lars Svensson, Princeton UniversityBayesian and Adaptive Optimal Policy under Model Uncertainty

Ondra Kamenik, Czech National BankTrade Openness and Monetary Policy Rules

Christopher Sims, Princeton UniversityRecognizing and Communicating Uncertainty in Monetary Policy Projections

Session 57: Auctions, Search, and Matching Location: S 10

Ricardo Serrano-Padial, University of California, San DiegoStrategic Foundations of Prediction Markets and the Efficient Markets Hypothesis

Artyom Shneyerov, UBCBilateral Matching and Bargaining with Private Information

Julien Prat, Vienna UniversityJob Market Signaling and Employer Learning

Manolis Galenianos, Pennsylvania State UniversityA Search-Theoretic Model of the Retail Market for Illegal Drugs

Session 58: Scale and the Macroeconomy Location: S 4

Rebecca Hellerstein, Federal Reserve Bank of New YorkAre Big Firms Born or Grown?

Francisco Buera, Northwestern UniversityFinancing Scale and Relative Prices

Esteban Rossi-Hansberg, Princeton UniversitySpin-offs and the Market for Ideas

Erzo Luttmer, University of MinnesotaNew Goods and the Size Distribution of Firms

Session 59: Innovation and Growth Location: S 7

Roberto Samaniego, George Washington UniversityAn R&D-based Model of Multi-sector Growth

Max Elger, Stockholm School of EconomicsEndogenous Growth and Investment-Specific Innovations - Evidence and Predictions

Byeongju Jeong, CERGE-EIIntergenerational Bargaining in Technology Adoption

Diego Restuccia, University of TorontoHow Important is Human Capital? A Quantitative Theory Assessment of World Income Inequality

June 29, 2007, 15:45 – 17:45Session 60: Credit Market Imperfections Location: S 12

Francesc Obiols-Homs, UABA note on borrowing limits and welfare

Christiane Clemens, Otto-von-Guericke University MagdeburgCredit Constraints, Entrepreneurial Activity, and Occupational Choice under Risk

Galina Vereshchagina, University of IowaConsumption Commitments, Borrowing Constraints and Preferences for Risk

Hugo A. Hopenhayn, UCLAEquilibrium Default with Limited Commitment

Session 61: Housing Location: S 5

Alexander Michaelides, London School of EconomicsFrom Shirtsleeves to Shirtsleeves in a Long Lifetime

Nancy Stokey, University of ChicagoHousing and Nondurable Consumption

Matteo Iacoviello, Boston CollegeThe Role of Housing Collateral in an Estimated Two-Sector Model of the US Economy

James Albrecht, Georgetown UniversityDirected Search in the Housing Market

June 29, 2007, 18:00 – 19:30 0Session 62: Plenary Session 2 AULA

Dilip Abreu, Princeton UniversityPlenary Session

June 30, 2007, 10:00 – 12:00Session 63: Productivity Location: S 4

Harry Paarsch, University of IowaIntertemporal Productivity under Fixed Wages and Piece Rates

David Lagakos, UCLAExplaining Cross-Country Productivity Differences in Retailing

Simona Cociuba, University of MinnesotaA Theory of Transition to a Better Technology

Arilton Teixeira, Capixaba Research FoundationPrivatization’s Impact on Private Productivity: The Case of

Session 64: The Economics of Networks Location: S 5

Christian Riis, Norwegian School of ManagementNetwork Competition with Local Network

Markus Mobius, Harvard UniversitySocial Learning and Consumer Demand

Onur Ozgur, University of MontrealDynamic Social Interactions: Identification and Characterization

Luis Cabral, New York UniversityDynamic Price Competition with Network Effects

Session 65: Business Cycles Location: S 12

Fabio Ghironi, Boston CollegeMonopoly Power and Endogenous Variety in Dynamic Stochastic General Equilibrium: Distortions and Rem-edies

Andrei Levchenko, International Monetary FundInternational Trade and Comovement of Business Cycles

Francois Gourio, Boston UniversityInvestment Spikes: New Facts and a General Equilibrium Exploration

Tomoyuki Nakajima, Kyoto UniversityCollateral constraint and news-driven cycles

Session 66: Human Capital and Wage Dynamics Location: S 8

Flavio Cunha, University of ChicagoEstimating the Technology of Cognitive and Noncognitive Skill Formation

Ryuichi Tanaka, Tokyo Institute of TechnologyJob Assignment and Human Capital Accumulation

Shintaro Yamaguchi, McMaster UniversityCareer and Skill Formation: A Dynamic Occupational Choice Model With Multidimensional Skills

Maurizio Mazzocco, UCLA Wage Dynamics of Single and Married Men

June 30, 2007, 10:00 – 12:00Session 67: Inflation Location: S 6

Miquel Faig, University of TorontoThe Welfare Cost of Expected and Unexpected Inflation

Miguel Molico, Bank of CanadaIdiosyncratic Uncertainty, Inflation and Welfare

Allen Head, Queen’s UniversityElastic Money, Settlement, and Interest Rate Policy

Huberto Ennis, Federal Reserve Bank of RichmondAvoiding the Inflation Tax

Session 68: Long-run Risks and the Macroeconomy Location: S 9

Robert Tetlow, Federal Reserve BoardLearning and the Role of Macroeconomic Factors in the Term Structure of Interest Rates

Lars Lochstoer, London Business SchoolLong-Run Risk through Consumption Smoothing

Stijn Van Nieuwerburgh, NYU Stern School of BusinessThe Wealth-Consumption Ratio: A Litmus Test for Consumption-Based Asset Pricing Models

Amir Yaron, The Wharton SchoolThe Asset Pricing Macro Nexus and Return Cash-Flow Predictability

Session 69: Real Effects of Financial Crises Location: S 7

Vivian Zhanwei Yue, New York University Solving the Country Risk-Business Cycles Disconnect: Endogenous Output Collapse in a Model of Sovereign Default

Simon Gilchrist, Boston UniversityInvestment during the Korean financial crisis: A structural econometric approach.

Guido Lorenzoni, MITPersistent Appreciations and Overshooting: A Normative Analysis

Carlos Urrutia, ITAMCredit Constraints, Firm Dynamics and the Transmission of External Financial Shocks

Session 70: Normative Studies of Government Policy Location: S 11

Nicola Pavoni, UCLHidden Wealth, Unemployment Insurance, and Employment Duration: The Optimal Shape of UI Benefits inthe Presence of Layoff Risk

Stavros Panageas, The Wharton School - University of PennsylvaniaOptimal Retirement Benefit Guarantees

Fabien Moizeau University of ToulouseDynamic Regulation of Public Good Quality

S. Boragan Aruoba, University of MarylandOptimal Fiscal and Monetary Policy when Money is Essential

June 30, 2007, 10:00 – 12:00Session 71: Applied Theory Location: S 10

Dragan Filipovich, El Colegio de Mexico, CEECheap Talk on the Circle

Mehmet Ekmekci, Northwestern UniversityCampaigns as Coordination Devices

Arianna Degan, University of Quebec at MontrealDo Voters Vote Sincerely?

Alessandro Citanna, HEC - ParisRecursive equilibrium in stochastic OLG economies

Session 72: Taxes and Tax Reform Location: S 3

Selahattin Imrohoroglu, University of Southern CaliforniaAltruism, Incomplete Markets, and Tax Reform

Kelly Ragan, Stockholm School of EconomicsTaxes, Transfers and Time Use: Fiscal Policy in a Model of Household Production

Emanuela Cardia, Universite de MontrealThe Effects of Public Spending Shocks on Consumption: Reconciling Theory and Evidence

Michal Kejak, CERGE-EIOptimal Government Policies in Models with Heterogeneous Agents

June 30, 2007, 13:15 – 15:15Session 73: Capital Flows III Location: S 7

Hui Tong, International Monetary FundSystemic Liquidity and the Composition of Foreign Investment: Theory and Empirical Evidence

Viktor Tsyrennikov, NYU/CornellCapital Flows and Moral Hazard

Katherine Smith, USNAThe composition of capital flows when emerging market firms face financing constraints

Ellen McGrattan, Federal Reserve Bank of MinneapolisTechnology Capital and the U.S. Current Account

Session 74: Price Competition Location: S 3

Jean Guillaume Forand, University of TorontoCompeting Through Information Provision

Alp Atakan, Northwestern UniversityCompetitive Equilibria in Decentralized Matching with Incomplete Information

Shouyong Shi, University of TorontoMatching, Pricing, and Quality Investment

Jan Eeckhout, University of PennsylvaniaThe Sorting Effect of Price Competition

Session 75: Bankruptcy, Collateral, and Default Location: S 10

Borys Grochulski, Federal Reserve Bank of RichmondOptimal Personal Bankruptcy Design: A Mirrlees Approach

Leo Ferraris, Universidad Carlos III de MadridCollateral Secured Loans in a Monetary Economy

Antonia Diaz, Universidad Carlos III de MadridCredit and Inflation under Borrowers’ Lack of Commitment

Hisashi Nakamura, University of TokyoA Continuous-Time Analysis of Optimal Debt Contracts: Theory and Applications

Session 76: Economics of Energy and Non-renewable Resources, Supported by CEZ Location: S 9

Andrew Scott, London Business SchoolRunning out of the Devil’s Excrement

Luis Aguiar-Conraria, Universidade do MinhoOil dependence and Economic Instability

Luis Puch, Universidad ComplutensePlants, Vintage Capital and Energy Use

Michele Cavallo, Federal Reserve Bank of San FranciscoMeasuring oil-price shocks using market-based information

June 30, 2007, 13:15 – 15:15Session 77: Risk Sharing Location: S 5

Giorgio Topa, Federal Reserve Bank of New YorkRisk Sharing, Informal Networks and Living Arrangements

Arpad Abraham, University of RochesterRisk Sharing under Limited Committment

Sam Schulhofer-Wohl, University of ChicagoHeterogeneity, Risk Sharing and the Welfare Costs of Risk

Nezih Guner, Universidad Carlos III de MadridMarital Instability and the Distribution of Wealth

Session 78: The Labor Supply of Women and Wage Inequality Location: S 4

Donghoon Lee, New York UniversityIncreasing idiosyncratic risk and converging gender differentials in the labor market

Claudia Olivetti, Boston UniversityGender and Dynamic Agency: Theory and Evidence on the Compensation of Female Top Executives

Michal Jerzmanowski, Clemson UniversityFinancial Development and Wage Inequality: Theory and Evidence from US States

Alessandra Fogli, NYU and Minneapolis FedNature or Nurture? Learning and Female Labor Force Dynamics

Session 79: Bubbles and Expectations Location: S 11

Laura Veldkamp, NYU SternThe geography of female labor force participation and the spread of cultural information

Martin Floden, Stockholm School of EconomicsVintage Capital and Expectations Driven Business Cycles

Kevin Lansing, Federal Reserve Bank of San FranciscoRational and Near-Rational Bubbles Without Drift

Oleksiy Kryvtsov, Bank of CanadaInformation Flows and Aggregate Persistence

Session 80: Monetary Policy Location: S 12

Christopher Otrok, University of VirginiaOptimal Monetary Policy in a Medium Scale Model for Emerging Markets

Rajesh Singh, Iowa State UniversityOptimal Monetary Policy under Asset Market Segmentation

Carlo Altavilla, University of Naples Parthenope Inflation Forecasts, Monetary Policy and Unemployment Dynamics: Evidence from the US and the Euro area

Federico Ravenna, University of California Santa CruzVacancies, Unemployment, and the Phillips Curve

June 30, 2007, 13:15 – 15:15Session 81: Investment Location: S 6

Doriana Ruffino, Boston UniversityLumps and Clusters in Duopolistic Investment Games: An Early Exercise Premium Approach

David Lucca, Board of Governors of the F.R.S.Resuscitating Time-to-Build

James Kahn, Federal Reserve Bank of New YorkHousing Prices and Growth

Thomas Philippon, Stern School of Business, New York UniversityThe y-Theory of Investment

Session 82: Dynamic Contracts Location: S 8

Christopher Sleet, Carnegie Mellon UniversityPolitically credible taxation

Yuliy Sannikov, UC BerkeleyAgency Problems, Screening and Increasing Credit Lines

Tomasz Piskorski, NYUOptimal Mortgage Design

Noah Williams, Princeton UniversityPersistent Private Information

June 30, 2007, 15:45 – 17:45Session 83: The Dynamics of Beliefs: Theory and Applications Location: S 3

Drew Fudenberg, Harvard UniversityNon-Equilibrium Learning with Heterogeneous Priors

Muhamet Yildiz, MITLearning and disagreement in an uncertain world

Andrea Wilson, Harvard UniversityOptimal Optimism and Selective Attention in Boundedly Rational Agents

Gilat Levy, London School of EconomicsA Theory of Religion: Linking Individual Beliefs

Session 84: Empirical Monetary Economics Location: S 6

Alexei Deviatov, New Economic SchoolEstimating a Cagan-type demand function for gold: 1561-1913

Francesco Columba, Bank of ItalySpeed of euro adoption

Thomas Lubik, Federal Reserve Bank of RichmondMoving Targets

Julia Thomas, Federal Reserve Bank of PhiladelphiaBreaking the New Keynesian Dichotomy: Asset Market Segmentation and the Monetary Transmission Mecha-nism

Session 85: Labor Search Location: S 9

Per Krusell, Princeton UniversityMatching with Precautionary Savings

Eric Smith, University of EssexWage Dispersion and Wage Dynamics Within and Across Firms

Espen Moen, Norwegian School of Management (BI)Small Markets

Susan Vroman, Georgetown UniversitySearch by Committee

Session 86: Life Cycle Location: S 4

Holger Sieg, Carnegie Mellon UniversityHousehold Life Cycle Location Choices and the Dynamics ofMetropolitan Communities

Greg Kaplan, New York UniversityInequality and the Lifecycle

Eugene Choo, University of TorontoLifecycle marriage matching: Theory and Evidence

Gary Hansen, UCLAHours Volatility over the Life Cycle: The Role of Learning by Doing

June 30, 2007, 15:45 - 17:45Session 87: Prices and Pricing Location: S 5

Eduardo Engel, Yale UniversityPrice stickiness in Ss models: new interpretations for old results

Ricardo Reis, Princeton UniversityMeasuring changes in the value of the numeraire

Joseph Kaboski, Ohio State UniversityLumpy Trade and the Price of Imports in Large Devaluations

Christopher Telmer, Carnegie Mellon UniversityMicroeconomic Sources of Real Exchange Rate Variability

Session 88: Liquidity and Financial Frictions Location: S 10

Benjamin Eden, Vanderbilt UniversityInternational Seigniorage Payments

Matias Fontenla, University of New MexicoLiquidity Provision and Banking Crises with Heterogeneous Agents

Kaiji Chen, University of OsloCapital Reallocation, Productivity, and Expectation-Driven Business Cycles

Giovanni Favara, HEC LausanneAgency Costs, Net Worth and Endogenous Business Fluctuations

Session 89: Firm Financing Location: S 8

Harold Cole, University of PennsylvaniaA Dynamic Theory of Optimal Capital Structure

Jianjun Miao, Boston UniversityFirm Heterogeneity and the Long-Run Effects of Dividend Tax Reform

Dmitry Livdan, Texas A&M UniversityA dynamic theory of the pecking-order based upon repeated signalling

Lukas Schmid, University of PennsylvaniaLevered Returns

Session 90: Great Depressions Location: S 11

Gauti Eggertsson, Federal Reserve Bank of New YorkWas the New Deal Contractionary?

Monique Ebell, Humboldt-University of BerlinReal Origins of the Great Depression: Monopoly Power, Unions and the American Business Cycle in the 1920s

Alice Schoonbroodt, University of Southampton Baby Busts and Baby Booms: A Cross-Country Study of Fertility Responses to Depressions and War Capital

Slim Bridji, University of Paris X and EconomiXAccounting for the French Great Depression

June 30, 2007, 15:45 - 17:45Session 91: International Dimensions of Fiscal and Monetary Policy Location: S 7

Viktoria Hnatkovska, University of British ColumbiaThe Non--Monotonic Relationship between Interest Rates and Exchange Rates

Michael Kumhof, Stanford UniversityA Party without a Hangover? On the Effects of U.S. Government Deficits

Gernot Mueller, Goethe University FrankfurtInternational Dimensions of Fiscal Policy Transmission

Bernardino Adao, Banco de PortugalOn the Relevance of Exchange Rate Regimes for Stabilization Policy

Session 92: Growth and Development Location: S 12

John Seater, North Carolina State UniversityFactor-Eliminating Technical Change

Harald Fadinger, Unversitat Pompeu FabraDevelopment Accounting in a Heckscher-Ohlin World

Hernan Moscoso Boedo, University of VirginiaOptimal Technology and Development

Yann Algan, Paris School of EconomicsSocial Attitudes and Macroeconomic Performance

June 30, 2007, 18:00 – 19:30Session 93: Plenary Session 3, Sponzored by CSOB AULA

Robert Shimer, University of ChicagoPlenary Session

RULES FOR PRESENTERS AND SESSION CHAIRS1. Every parallel session lasts for two hours and contains four papers

2. Every presenter has a time endowment of 25 minutes, in order to allow 5 minutes of open-floor discussionat the end of each presentation

3. All presentations are from laptops and data projectors. Please bring your own presentation on a USB device in a pdf or PowerPoint format to a student assistant in your room at least 10 minutes before your session starts.

4. The Chair is by default the last presenter of the session

5. The Chair is in charge of keeping track of time (and it is in her/his own interest, since s/he will be the lastone to present her/his research)

6. At the beginning of each session, the Chair should make sure that all four speakers are present. In case one of them is missing, s/he is free to allocate time differently

LIST OF CONFERENCE PARTICIPANTSLAST FIRST INSTITUTION EMAIL

Abbring Jaap VU University Amsterdam [email protected]

Abraham Arpad University of Rochester [email protected]

Abreu Dilip Princeton University [email protected]

Acedanski Jan University of Economics in Katowice [email protected]

Adao Bernardino Banco de Portugal, U Catolica [email protected]

Aguiar Mark University of Rochester [email protected]

Aguiar-Conraria Luis Universidade do Minho [email protected]

Akyol Ahmet York University [email protected]

Albanesi Stefania Columbia University [email protected]

Albrecht James Georgetown University [email protected]

Ales Laurence University of Minnesota [email protected]

Alessandria George Federal Reserve Bank of Philadelphia [email protected]

Alexopoulos Michelle University of Toronto [email protected]

Algan Yann PSE [email protected]

Alonso Irasema Yale University [email protected]

Altavilla Carlo University of Naples Parthenope [email protected]

Amador Manuel Stanford University [email protected]

Ambrus Attila Harvard University [email protected]

Amir Ahmadi Pooyan Humboldt University [email protected]

Andolfatto David Simon Fraser University [email protected]

Arato Hiroki Kyoto University [email protected]

Arellano Cristina University of Minnesota [email protected]

Arkolakis Konstantinos C. University of Minnesota [email protected]

Armenter Roc Federal Reserve Bank of New York [email protected]

Aruoba Boragan University of Maryland [email protected]

Ashcraft Adam Federal Reserve Bank of New York [email protected]

Atakan Alp Northwestern University [email protected]

Athey Susan Harvard University [email protected]

Athreya Kartik Federal Reserve Bank of Richmond [email protected]

Azzimonti Renzo Marina University of Iowa [email protected]

Bartelsman Eric Vrije Universiteit [email protected]

Battaglini Marco Princeton University [email protected]

Batyra Anna Catholic University of Louvain [email protected]

Benjamin David University of Southampton [email protected]

Berentsen Aleksander University of Basel [email protected]

Bilotkach Volodymyr University of California, Irvine [email protected]

Birk Angela State University of New York, Fredonia [email protected]

Bodur Yunus Emre Koc University [email protected]

Bohacek Radim Charles University [email protected]

Bonfiglioli Alessandra Institute for Economic Analysis [email protected]

Bridji Slim University of Paris 10 and EconomiX [email protected]

Bruegemann Bjoern Yale University [email protected]

Bruha Jan Czech National Bank [email protected]

Buera Francisco Northwestern University [email protected]

Cabral Luis New York University [email protected]

Carapella Francesca University of Minnesota, [email protected] Federal Reserve Bank of Minneapolis

Carrillo-Tudela Carlos Leicester [email protected]

LAST FIRST INSTITUTION EMAIL

Caselli Francesco LSE [email protected]

Cavalcanti Ricardo Getulio Vargas Foundation [email protected]

Cavallo Michele Federal Reserve Bank of San Francisco [email protected]

Chaney Thomas University of Chicago [email protected]

Chang Yongsung Seoul National University [email protected]

Chen Kaiji University of Oslo [email protected]

Cheron Arnaud Universite Le Mans [email protected]

Chien YiLi Purdue University [email protected]

Cho Inkoo University of Illinois [email protected]

Choi Horag The University of Auckland [email protected]

Choo Eugene University of Toronto [email protected]

Chugh Sanjay Federal Reserve Board [email protected]

Citanna Alessandro HEC Paris [email protected]

Clemens Christiane University of Magdeburg [email protected]

Clementi Gian Luca New York University [email protected]

Cociuba Simona University of Minnesota [email protected]

Cole Harold University of Pennsylvania [email protected]

Columba Francesco Bank of Italy [email protected]

Cooley Thomas New York University [email protected]

Cordoba Juan Rice University [email protected]

Correia Isabel Banco Portugal and FCEE [email protected]

Costain James Bank of Spain [email protected]

Cozzi Marco UCL - Queen’s University [email protected]

Cunha Flavio University of Chicago [email protected]

de Blas Beatriz Universidad Autonoma de Madrid [email protected]

de Paula Aureo University of Pennsylvania [email protected]

Debortoli Davide Universitat Pompeu Fabra [email protected]

Degan Arianna UQAM [email protected]

Del Negro Marco Federal Reserve Bank of Atlanta [email protected]

Demidova Svetlana University of Georgia [email protected]

Dennis Richard Federal Reserve Bank of San Francisco [email protected]

Devyatov Alexey New Economic School [email protected]

Diaz Antonia Universidad Carlos III de Madrid [email protected]

Dicecio Riccardo Federal Reserve Bank of St. Louis [email protected]

Domeij David Stockholm School of Economics [email protected]

Drazen Allan University of Maryland [email protected]

Drozd Lukasz University of Wisconsin [email protected]

Eaton Jonathan New York University [email protected]

Ebell Monique Humboldt University of Berlin [email protected]

Eden Benjamin Vanderbilt University [email protected]

Edge Rochelle Federal Reserve Board [email protected]

Edmond Chris NYU [email protected]

Eeckhout Jan University of Pennsylvania [email protected]

Eggertsson Gauti Federal Reserve Bank of New York [email protected]

Einav Liran Stanford University [email protected]

Ekmekci Mehmet Northwestern University [email protected]

Elger Max Stockholm School of Economics [email protected]

Engel Eduardo Yale University [email protected]


Ennis Huberto M Federal Reserve Bank of Richmond [email protected]

Eraslan Hulya University of Pennsylvania [email protected]

Eusepi Stefano Federal Reserve Bank of New York [email protected]

Faberman Jason Federal Reserve Bank of Philadelphia [email protected]

Fabio Ghironi Boston College [email protected]

Fadinger Harald Universitat Pompeu Fabra [email protected]

Faig Miquel University of Toronto [email protected]

Favara Giovanni HEC University of Lausanne [email protected]

Felbermayr Gabriel Tuebingen University gabriel.felbermayr

Femminis Gianluca Universita’ Cattolica - Milan [email protected]

Ferraris Leo Universidad Carlos III Madrid [email protected]

Filipovich Dragan El Colegio de Mexico [email protected]

Fiorini Mario University College London [email protected]

Fitzgerald Doireann Stanford University [email protected]

Flinn Christopher New York University [email protected]

Floden Martin Stockholm School of Economics [email protected]

Fogli Alessandra Fed. Reserve Bank of Minneapolis & NYU [email protected]

Fong Pohan Concordia University [email protected]

Fontenla Matias Univeristy of New Mexico [email protected]

Forand Jean Guillaume University of Toronto [email protected]

Forni Lorenzo Bank of Italy [email protected]

Francis Neville North Carolina [email protected]

Fuchs-Schuendeln Nicola Harvard University [email protected]

Fudenberg Drew Harvard University [email protected]

Galenianos Manolis Penn State University [email protected]

Gancia Gino CREI and UPF [email protected]

Gervais Martin UWO [email protected]

Giannetti Mariassunta Stockholm School of Economics [email protected]

Gilchrist Simon Boston Univeristy [email protected]

Gillman Max Cardiff University [email protected]

Gomes Francisco London Business School [email protected]

Gopinath Gita Harvard University [email protected]

Gottardi Piero University of Venice [email protected]

Gourio Francois Boston University [email protected]

Grochulski Borys Federal Reserve Bank of Richmond [email protected]

Guerdjikova Ani Cornell University [email protected]

Guerrieri Veronica University of Chicago [email protected]

Guimaraes Bernardo LSE [email protected]

Guler Bulent The University of Texas at Austin [email protected]

Guner Nezih Universidad Carlos III de Madrid [email protected]

Hairault Jean-Olivier Paris 1 University [email protected]

Halpern László Central European University [email protected]

Hansen Gary UCLA [email protected]

Hashmi Aamir University of Toronto [email protected]

Hawkins William University of Rochester [email protected]

He Ping University of Illinois at Chicago [email protected]


He Hui University of Minnesota [email protected]

Head Allen Queen’s University [email protected]

Heinemann Maik Leuphana University of Lueneburg [email protected]

Hellerstein Rebecca Federal Reserve Bank of New York [email protected]

Hellwig Christian UCLA [email protected]

Hendricks Lutz Iowa State University [email protected]

Hnatkovska Viktoria University of British Columbia [email protected]

Hopenhayn Hugo UCLA [email protected]

Horner Johannes Northwestern University [email protected]

Horny Guillaume University of Strasbourg [email protected]

Houde Jean-Francois University of Wisconsin-Madison [email protected]

Houser Daniel George Mason University [email protected]

Iacoviello Matteo Boston College [email protected]

Impullitti Giammario IMT Lucca and EUI Florence [email protected]

Imrohoroglu Selo USC [email protected]

Inaba Masaru Research Institute of Economy, [email protected] Trade and Industry

Jaimovich Nir Stanford University [email protected]

Jarque Arantxa U. de Alicante [email protected]

Jeong Byejongju CERGE-EI [email protected]

Jeong Hyeok University of Southern California [email protected]

Jerzmanowski Michal Clemson University [email protected]

Jeske Karsten Federal Reserve Bank of Atlanta [email protected]

Kaboski Joe Ohio State [email protected]

Kahn James Federal Reserve Bank of New York [email protected]

Kambourov Gueorgui University of Toronto [email protected]

Kamenik Ondrej Czech National Bank [email protected]

Kang Moon Soo Bank of Korea [email protected]

Kannan Prakash IMF [email protected]

Kapicka Marek UC Santa Barbara [email protected]

Kaplan Greg New York University [email protected]

Karaivanov Alexander Simon Fraser University [email protected]

Kasa Ken Simon Fraser University [email protected]

Kastl Jakub Stanford University [email protected]

Kaya Ayca University of Iowa [email protected]

Kaygusuz Remzi Pennsylvania State University [email protected]

Keister Todd Federal Reserve Bank of New York [email protected]

Kejak Michal Charles University [email protected]

Khan Aubhik Federal Reserve Bank of Philadelphia [email protected]

Khandelwal Amit Columbia Business School [email protected]

Kim Ki-Ho Bank of Korea [email protected]

King Ian University of Melbourne [email protected]

Kircher Philipp University of Pennsylvania [email protected]

Klein Paul University of Western Ontario [email protected]

Kobayashi Keiichiro Research Institute of Economy, [email protected] Trade and Industry

Kocherlakota Narayana University of Minnesota [email protected]


Koeniger Winfried IZA, University of Bonn [email protected]

Kollmann Robert Universite Libre de Bruxelles [email protected]

Kolyuzhnov Dmitri Charles University [email protected]

Kondor Peter University of Chicago [email protected]

Krueger Dirk University of Pennsylvania [email protected]

Krusell Per Princeton University [email protected]

Kryvtsov Oleksiy Bank of Canada [email protected]

Kuehn Lars-Alexander University of British Columbia [email protected]

Kumhof Michael International Monetary Fund [email protected]

Kuruscu Burhanettin University of Texas & University [email protected] of Western Ontario

Labadie Pamela George Washington University [email protected]

Lagakos David UCLA [email protected]

Lagos Ricardo NYU [email protected]

Lahiri Amartya University of British Columbia [email protected]

Langot François Université du Maine [email protected]

Last First Institution Email

Lansing Kevin Federal Reserve Bank of San Francisco [email protected]

Lauermann Stephan University of Bonn [email protected]

Le Grand Francois Paris School of Economics [email protected]

Lee Donghoon NYU [email protected]

Lee In Ho Seoul National University [email protected]

Levchenko Andrei IMF [email protected]

Levine David Washington University St Louis [email protected]

Levy Gilat LSE [email protected]

Li Wenli Federal Reserve Bank of Philadelphia [email protected]

Liu Zheng Emory University [email protected]

Livdan Dmitry Texas A&M [email protected]

Livshits Igor University of Western Ontario [email protected]

Lkhagvasuren Damba Northwestern University [email protected]

Lloyd-Ellis Huw Queen’s University [email protected]

Lochstoer Lars London Business School [email protected]

Lorenzoni Guido MIT [email protected]

Low Hamish University of Cambridge [email protected]

Lubik Thomas Federal Reserve Bank of Richmond [email protected]

Lucca David Board of Governors of the Federal [email protected] Reserve System

Ludvigson Sydney New York University [email protected]

Luttmer Erzo University of Minnesota [email protected]

MacGee Jim Western Ontario [email protected]

Mailath George Yale University [email protected]

Marchesiani Alessandro University of Rome “Telma” [email protected]

Martin Fernando Simon Fraser University [email protected]

Martin Antoine Federal Reserve Bank of New York [email protected]

Maziero Pricila Federal Reserve Bank of Minneapolis [email protected]

Mazzocco Maurizio UCLA [email protected]

McGrattan Ellen Federal Reserve Bank of Minneapolis [email protected]

Mendoza Enrique IMF [email protected]

Menendez Alicia University of Chicago [email protected]


Menzio Guido University of Pennsylvania [email protected]

Meza Felipe Universidad Carlos III [email protected]

Miao Jianjun Boston University and HKUST [email protected]

Michaelides Alex LSE [email protected]

Mobius Markus Harvard University [email protected]

Moen Espen Norwegian School of Management (BI) [email protected]

Moizeau Fabien University of Toulouse 1 [email protected]

Molico Miguel Bank of Canada [email protected]

Mondria Jordi University of Toronto [email protected]

Mortensen Dale Northwestern and Aarhus Universities [email protected]

Moscarini Giuseppe Yale University [email protected]

Moscoso Boedo Hernan University of Virginia [email protected]

Mueller Gernot Goethe University Frankfurt [email protected]

Mueller Andreas University of Zurich [email protected]

Nagypál Éva Northwestern University [email protected]

Nakajima Tomoyuki Kyoto University [email protected]

Nakamura Hisashi University of Tokyo [email protected]

Nevo Aviv Northwestern University [email protected]

Ngai Rachel LSE [email protected]

Niepelt Dirk Study Center Gerzensee [email protected]

Nikolov Kalin Bank of England/LSE [email protected]

Nilsen Oivind Anti Norwegian School of Business [email protected] and Business Adminstration

Nimark Kristoffer Reserve Bank of Australia [email protected]

Nosal Ed Federal Reserve Bank of Cleveland [email protected]

Obara Ichiro UCLA [email protected]

Obiols-Homs Francesc UAB [email protected]

Olivetti Claudia Boston University [email protected]

Otrok Christopher University of Virginia [email protected]

Ozgur Onur University of Montreal [email protected]

Paarsch Harry University of Iowa [email protected]

Panageas Stavros University of Pennsylvania [email protected]

Panousi Vasia MIT [email protected]

Papanikolaou Dimitris Northwestern University [email protected]

Park Kangwoo Seoul National University [email protected]

Pavoni Nicola UCL [email protected]

Peralta-Alva Adrian University of Miami [email protected]

Perez Sebastian Fidel University of Alicante [email protected]

Perez-Nievas Miguel Universidade de Santiago de Compostela [email protected]

Perri Fabrizio University of Minnesota [email protected]

Petrin Amil University of Chicago GSB [email protected]

Petrosky-Nadeau Nicolas University of Quebec at Montreal [email protected]

Philippon Thomas NYU [email protected]

Piazzesi Monika University of Chicago [email protected]

Piskorski Tomasz NYU Stern [email protected]

Pistaferri Luigi Stanford University [email protected]

Portier Franck Universté de Toulouse [email protected]

Poschke Markus EUI [email protected]


Postlewaite Andrew University of Pennesylvania [email protected]

Prado Jr. Jose Mauricio IIES/Stockholm University [email protected]

Prat Julien Vienna University [email protected]

Prescott Edward C. Arizona State University [email protected]

Preuschoff Kerstin Caltech [email protected]

Primiceri Giorgio Northwestern University [email protected]

Puch Luis FEDEA [email protected]

Puzzello Daniela University of Kentucky [email protected]

Qiao Xue (Sherry) Tsinghua University, Iowa State University [email protected]

Quadrini Vincenzo University of Southern California [email protected]

Rady Sven University of Munich [email protected]

Ragan Kelly Stockholm School of Economics [email protected]

Ramanarayanan Ananth University of Minnesota [email protected]

Ramondo Natalia University of Texas-Austin [email protected]

Rappoport Veronica Columbia University [email protected]

Ravenna Federico University of California – Santa Cruz [email protected]

Razin Assaf Tel Aviv University [email protected]

Razin Ronny London School of Economics [email protected]

Redding Stephen London School of Economics [email protected]

Reis Catarina MIT [email protected]

Reis Ricardo Princeton University [email protected]

Reiter Michael Universitat Pompeu Fabra [email protected]

Restuccia Diego University of Toronto [email protected]

Riboni Alessandro University of Montreal [email protected]

Riis Christian Norwegian School of Management [email protected]

Rodriguez Andres Penn State University [email protected]

Röhrs Sigrid University of Zürich [email protected]

Rossi Barbara Duke University [email protected]

Rossi-Hansberg Esteban Princeton University [email protected]

Routledge Bryan Carnegie Mellon University [email protected]

Rudanko Leena University of Chicago [email protected]

Ruffino Doriana Boston University [email protected]

Ruhl Kim University of Texas at Austin [email protected]

Rustichini Aldo University of Minnesota [email protected]

Sahin Aysegul Federal Reserve Bank of New York [email protected]

Sala Luca IGIER Universita’ Bocconi [email protected]

Samaniego Roberto George Washington University [email protected]

Sanchez Juan M. University of Rochester [email protected]

Santos Monteiro Paulo Université Libre de Bruxelles [email protected]

Schmid Lukas University of Pennsylvania [email protected]

Schneider Martin Federal Reserve Bank of Minneapolis [email protected]

Schoellman Todd Stanford University [email protected]

Schoonbroodt Alice University of Southampton [email protected]

Schulhofer-Wohl Sam Princeton University [email protected] Andrew London Business School [email protected]

Seater John North Carolina State University [email protected]

Sekiguchi Tadashi Kyoto University [email protected]

Senesi Pietro University of Naples “L’Orientale” [email protected]

Seppala Juha University of Illinois [email protected]

Serrano-Padial Ricardo University of California, San Diego [email protected]

Sevcik Pavel Universite de Montreal [email protected]

Shi Shouyong University of Toronto [email protected]

Shimer Robert University of Chicago [email protected]

Shin Yongseok U of Wisconsin-Madison [email protected]

Shneyerov Artyom UBC [email protected]

Sieg Holger Carnegie Mellon [email protected]

Silos Pedro Federal Reserve Bank of Atlanta [email protected]

Sims Christopher Princeton University [email protected]

Singh Aarti Washington University [email protected]

Singh Rajesh Iowa State University [email protected]

Skrzypacz Andrzej Stanford University [email protected]

Sleet Christopher Carnegie Mellon University [email protected]

Slobodyan Sergey CERGE-EI [email protected]

Smith Eric University of Essex [email protected]

Smith Anthony Yale University [email protected]

Smith Katherine USNA [email protected]

Solopov Vyacheslav Astrakhan State University, Russia [email protected]

Sorensen Alan Stanford University [email protected]

Sorensen Bent University of Houston [email protected]

Steinsson Jon Harvard Univeristy [email protected]

Stokey Nancy University of Chicago [email protected]

Sutherland Alan St Andrews [email protected]

Svensson Lars Princeton University [email protected]

Swanson Eric Federal Reserve Bank of San Francisco [email protected]

Tambalotti Andrea Federal Reserve Bank of New York [email protected]

Tedongap Nguefack Romeo Raymond Universite de Montreal, Cireq and Cirano [email protected]

Teixeira Arilton Fucape [email protected]

Telmer Chris Carnegie Mellon [email protected]

Telyukova Irina UC San Diego [email protected]

Temzelides Ted University of Pittsburgh [email protected]

Tetlow Robert Federal Reserve Board [email protected]

Thomas Julia Federal Reserve Bank of Philadelphia [email protected]

Tong Hui IMF [email protected]

Topa Giorgio Federal Reserve Bank of New York [email protected]

Trigari Antonella IGIER, Università Bocconi [email protected]

Tsyrennikov Viktor New York University [email protected]

Uhlig Harald Humboldt-Universitaet zu Berlin [email protected]

Uren Lawrence University of Melbourne [email protected]

Urrutia Carlos ITAM [email protected]

Valentinyi Akos University of Southampton [email protected]

Van Nieuwerburgh Stijn New York University [email protected]

van Rens Thijs CREI and Universitat Pompeu Fabra [email protected]

Veldkamp Laura NYU Stern [email protected]

Ventura Gustavo University of Iowa [email protected]

Vereshchagina Galina University of Iowa [email protected]

Vigfusson Robert Federal Reserve Board [email protected]



Violante Giovanni NYU [email protected]

Visschers Lodewijk University of Pennsylvania / [email protected] Simon Fraser University

von Thadden Leopold European Central Bank [email protected]

Vroman Susan Georgetown University [email protected]

Wachter Jessica University of Pennsylvania [email protected]

Waller Christopher University of Notre Dame [email protected]

Watanabe Makoto Universidad Carlos III [email protected]

Waugh Michael University of Iowa [email protected]

Wei Chao George Washington University [email protected]

Westerfield Mark USC [email protected]

Williams Noah Princeton University [email protected]

Willis Jonathan Federal Reserve Bank of Kansas City [email protected]

Wilson Andrea Harvard University [email protected]

Wiseman Kevin University of Minnesota [email protected]

Wolpin Kenneth University of Pennsylvania [email protected]

Wolthoff Ronald Vrije Universiteit [email protected]

Wright Mark UCLA [email protected]

Yakadina Irna IMF [email protected]

Yamada Katsunori Osaka University [email protected]

Yamaguchi Shintaro McMaster University [email protected]

Yaron Amir University of Pennsylvania-Wharton [email protected]

Yashiv Eran Tel Aviv University [email protected]

Yesilirmak Muharrem Koc University [email protected]

Yildiz Muhamet MIT [email protected]

Yogo Motohiro University of Pennsylvania [email protected]

Yue Vivian Zhanwei New York University [email protected]

Yun Tack Federal Reserve Board [email protected]

Zavadil Tibor VU University [email protected]

Zhang Yuzhe University of Iowa [email protected]

Zhu Xiaodong University of Toronto [email protected]

Zilibotti Fabrizio University of Zurich [email protected]

Zimmermann Christian University of Connecticut [email protected]

Zin Stanley Carnegie Mellon University [email protected]

17

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MAP OF PRAGUE

MAP OF MALÁ STRANA (LESSER TOWN)

PROFESNÍ DŮMDINNER

CONCERT

ORIENTATION PLANS OF PROFESNI DUM

Aula: Plenary Sessions, Welcome Reception, Coffee Breaks and Lunch

Hallway: Registration Desk, Coffee Breaks, Lunch

S8-12 Parallel Sessions

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ORIENTATION PLANS OF PROFESNI DUM



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THE SED 2007 ANNUAL MEETING IS ORGANIZED BY · Francisco Buera (Northwestern University) Ariel...

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Transcript of THE SED 2007 ANNUAL MEETING IS ORGANIZED BY · Francisco Buera (Northwestern University) Ariel...