PROGRAM
Detailed List of Sessions
Session: Development and Misallocation
November 1, 2019 13:00 to 14:30
Ernst Bessey Hall 112
The Role of Adjustment Costs and Distortions in Misallocation; What Can We Learn from the Exit Margin?
By Yaser Sattari; Simon Fraser University
presented by: Yaser Sattari, Simon Fraser University
Mobility Frictions and Misallocation: An Analysis of China's Land Tenure System
By Tasso Adamopoulos; York University
Loren Brandt; University of Toronto
Chaoran Chen; York University
Diego Restuccia; University of Toronto
presented by: Chaoran Chen, York University
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The Capital Matthew Effect
By Dan Su; University of Minnesota
presented by: Dan Su, University of Minnesota
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Session: Exchange Rates
November 1, 2019 13:00 to 14:30
Engineering Building 1300
Optimal Monetary Policy under Dollar Pricing
By Konstantin Egorov; New Economic School
Dmitry Mukhin; University of Wisconsin-Madison
presented by: Konstantin Egorov, New Economic School
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International Spillovers and the Exchange Rate Channel of Monetary Policy
By Vito Cormun; Boston College
Pierre De Leo; University of Maryland
presented by: Pierre De Leo, University of Maryland
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Inflation and Exchange Rate Pass-Through
By Jongrim Ha; World Bank
Marc Stocker; World Bank
Hakan Yilmazkuday; Florida International University
presented by: Hakan Yilmazkuday, Florida International University
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Session: Growth Empirics
November 1, 2019 13:00 to 14:30
Eppley Center 109
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Data in Growth Model
By Danxia Xie; Tsinghua University
Longtian Zhang; Tsinghua University
Ke Tang; Tsinghua University
Zhen Sun; Tsinghua University
presented by: Longtian Zhang, Tsinghua University
Industrial Policy in an Innovation-based Growth Model: Theory and Data
By Huong Dang; George Washington University
Roberto Samaniego; George Washington University
presented by: Huong Dang, George Washington University
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Inequality, Openness, and Growth through Creative Destruction
By Adrian Jaeggi; University of St.Gallen
Ulrich Schetter; Harvard University
Maik Schneider; University of Bath
presented by: Ulrich Schetter, Harvard University
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Session: Inequality
November 1, 2019 13:00 to 14:30
Ernst Bessey Hall 313
Finance and Inequality: A Tale of Two Tails
By Alexander Ludwig; Research Center SAFE, Goethe University
Alexander Monge-Naranjo; Federal Reserve Bank of St. Louis
Ctirad Slavik; CERGE-EI
Faisal Sohail; University of Melbourne
presented by: Ctirad Slavik, CERGE-EI
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Migrant Labor and Remittances: Macroeconomic Consequences and Policy Responses
By Sokchea Lim; John Carroll University
AKM Morshed; Southern Illinois University Carbondale
Stephen Turnovsky; University of Washington
presented by: AKM Morshed, Southern Illinois University Carbondale
Public Debt, Redistribution, and Growth
By Axelle Ferriere; PSE
Philipp Gruebener; European University Institute
Dominik Sachs; LMU Munich
presented by: Philipp Gruebener, European University Institute
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Session: Macroeconomic Uncertainty
November 1, 2019 13:00 to 14:30
Ernst Bessey Hall 310
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Fiscal Policy and Uncertainty
By Jonathan Wolff; Miami University
Samuel Jerow; Federal Reserve Board
presented by: Jonathan Wolff, Miami University
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Surveying the survey. What can we learn about the effect of monetary policy on inflation expectations?
By Michael Pedersen; Central Bank of Chile
presented by: Michael Pedersen, Central Bank of Chile
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Uncertainty and Expectation Formation over the Business Cycles: Evidence from Japan and the Globe
By Cheng Chen; Clemson University
Tatsuro Senga; Queen Mary University of London
Chang Sun; The University of Hong Kong
Hongyong Zhang; RIETI
presented by: Cheng Chen, Clemson University
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Session: Markets and Products
November 1, 2019 13:00 to 14:30
Ernst Bessey Hall 316
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Value v.s. Profit Limit Price: Implication for the Reallocation Effect in Lentz and Mortensen (2008)
By Hugo Hopenhayn; University of California Los Angeles
Koki Oikawa; Waseda University
presented by: Koki Oikawa, Waseda University
Efficient Reallocation and Productivity during Commodity Price Cycles
By Rodrigo Heresi; University of Maryland
presented by: Rodrigo Heresi, University of Maryland
Spillovers and Redistribution through Intra-Firm Networks: The Product Replacement Channel
By Jay Hyun; Columbia University
Ryan Kim; Johns Hopkins University
presented by: Jay Hyun, Columbia University
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Session: Monetary Policy 1
November 1, 2019 13:00 to 14:30
Engineering Building 1230
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Pricing-to-Market, Imperfect Financial Integration, and Optimal Monetary Policy
By Wontae Han; The Chinese University of Hong Kong, Shenzhen
presented by: Wontae Han, The Chinese University of Hong Kong, Shenzhen
Unconventional Monetary Policy, (A)Synchronicity and the Yield Curve
By Karlye Dilts Stedman; Federal Reserve Bank of Kansas City
presented by: Karlye Dilts Stedman, Federal Reserve Bank of Kansas City
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Mind the gap! - A monetarist view of the open-economy Phillips curve
By Ayse Kabukcuoglu; North Carolina State University
Enrique Martinez-Garcia; Federal Reserve Bank of Dallas
presented by: Ayse Kabukcuoglu, North Carolina State University
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Session: Money and Monetary Policy
November 1, 2019 13:00 to 14:30
Engineering Building 2245
Efficient Demonetization
By Shiv Dixit; University of Minnesota
presented by: Shiv Dixit, University of Minnesota
Interest on Reserves, Banking Contracts and Monetary Policy
By Jaevin Park; The University of Mississippi
presented by: Jaevin Park, The University of Mississippi
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Testing Superneutrality when Money Growth is Endogenous: Implications for New-Keynesian Models
By John Keating; University of Kansas
Victor Valcarcel; University of Texas at Dallas
presented by: John Keating, University of Kansas
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Session: Plenary Talk 1: Emmanuel Farhi (Harvard University)
November 1, 2019 15:00 to 16:00
Ernst Bessey Hall 108
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Session: Bank Regulation and Macroprudential Policies
November 1, 2019 16:45 to 18:15
Business College Complex N106
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Looking outside the banking sector: The impact of macroprudential policies on shadow-banking activities
By Xianglong Liu; University of Melbourne
presented by: Xianglong Liu, University of Melbourne
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Bank Heterogeneity and Size-Based Capital Requirements
By Jordan Pandolfo; University of Minnesota
presented by: Jordan Pandolfo, University of Minnesota
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The Impact of the Dodd-Frank Act on Small U.S. Banks
By Kuan Liu; University of Wisconsin-Madison
presented by: Kuan Liu, University of Wisconsin-Madison
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Session: Emerging Economies
November 1, 2019 16:45 to 18:15
Business College Complex Pavilion M036
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Commodity Cycles and Financial Instability in Emerging Economies
By Mikhail Andreyev; Bank of Russia
Udara Peiris; NRU Higher School of Economics
Aleksandr Shirobokov; NRU Higher School of Economics
Dimitrios Tsomocos; University of Oxford
presented by: Udara Peiris, NRU Higher School of Economics
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Liquidity Constraints and MPCs in an Emerging Economy: An Empirical Investigation
By Seungki Hong; Columbia University
presented by: Seungki Hong, Columbia University
House Prices, Frictions, and Consumption Volatility
By Wonmun Shin; Columbia University
presented by: Wonmun Shin, Columbia University
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Mortgage Spreads, House Prices, and Business Cycles in Emerging Countries
By Jaroslav Horvath; University of New Hampshire
Philip Rothman; East Carolina University
presented by: Jaroslav Horvath, University of New Hampshire
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Session: Growth and Trade
November 1, 2019 16:45 to 18:15
Business College Complex Pavilion M010
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Specialization, Market Access and Medium-Term Growth
By Dominick Bartelme; University of Michigan
Ting Lan; University of Michigan
Andrei Levchenko; University of Michigan
presented by: Dominick Bartelme, University of Michigan
Trade Wars, Technology and Productivity
By Ching-mu Chen; Zhongnan University of Economics and Law
Wan-Jung Cheng; Academia Sinica
Shin-Kun Peng; Academia Sinica
Raymond Riezman; Aarhus University
Ping Wang; Washington University in St. Louis
presented by: Ping Wang, Washington University in St. Louis
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When local knowledge is too local: financial development and firm export
By Raoul Minetti; Michigan State University
Pierluigi Murro; LUISS University
Nick Rowe; Michigan State University
presented by: Nick Rowe, Michigan State University
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Session: Housing
November 1, 2019 16:45 to 18:15
Business College Complex N103
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Regulation and Trade in the Secondary Mortgage Market
By Salomon Garcia; University of Minnesota
presented by: Salomon Garcia, University of Minnesota
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Aggregate and Distributional Impacts of Housing Policy: China's Experiment
By Kaiji Chen; Emory University
Qing Wang; SWUFE
Tong Xu; SWUFE
Tao Zha; Emory University
presented by: Tong Xu, SWUFE
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Rural-Urban Migration, Structural Transformation, and Housing Markets in China
By Aaron Hedlund; University of Missouri
presented by: Aaron Hedlund, University of Missouri
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Session: International Capital Flows
November 1, 2019 16:45 to 18:15
Business College Complex Pavilion M210
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Bought, Sold and Bought Again: The Impact of Complex Value Chains on Export Elasticities
By Francois de Soyres; World Bank
Erik Frohm; Sveriges Riksbank
Vanessa Gunnella; European Central Bank
Elena Pavlova; European Commission
presented by: Francois de Soyres, World Bank
Foreign Direct Investment as a Determinant of Cross-Country Stock Market Comovement
By Alexis Anagnostopoulos; Stony Brook University
Orhan Erem Atesagaoglu; Istanbul Bilgi University
Elisa Faraglia; Cambridge University
Chryssi Giannitsarou; University of Cambridge
presented by: Alexis Anagnostopoulos, Stony Brook University
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Implications of Slow Moving Capital for International Portfolio Choices
By Annie Soyean Lee; UW-Madison
presented by: Annie Soyean Lee, UW-Madison
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Currency Manipulation in a Model of Money, Banking, and Trade
By Caroline Betts; USC
presented by: Caroline Betts, USC
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Session: Labor and Business Cycles
November 1, 2019 16:45 to 18:15
Business College Complex N021
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Labor Market Sorting over the Business Cycle
By Hyejin Park; University of Chicago
presented by: Hyejin Park, University of Chicago
Duration Dependence and Business Cycles
By Ismail Baydur; Singapore Management University
Jianhuan Xu; Singapore Management Universit
presented by: Ismail Baydur, Singapore Management University
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Asymmetric Business Cycles in Segmented Labour Markets
By Srinivasan Murali; Indian Institute of Management, Bangalore
Jong Kook Shin; Newcastle University
Chetan Subramanian; IIM Bangalore
presented by: Chetan Subramanian, IIM Bangalore
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Session: Mobility and Inequality
November 1, 2019 16:45 to 18:15
Business College Complex N124
A Three-Factor Model of the Earnings Distribution
By Byoungchan Lee; Hong Kong University of Science and Technology
presented by: Byoungchan Lee, Hong Kong University of Science and Technology
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Costly Commuting and the Job Ladder
By Jean Flemming; Board of Governors of the Federal Reserve System
presented by: Jean Flemming, Board of Governors of the Federal Reserve System
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Skilled Tradable Services: The Transformation of U.S. High-Skill Labor Markets
By Fabian Eckert; Yale University
Sharat Ganapati; Georgetown University
Conor Walsh; Yale University
presented by: Fabian Eckert, Yale University
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Session: Taxation
November 1, 2019 16:45 to 18:15
Business College Complex N125
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The Fiscal State-Dependent Effects of Capital Income Tax Cuts
By Wenyi Shen; Oklahoma State University
Shu-Chun Yang; International Monetary Fund; National Sun Yat-Sen University
presented by: Wenyi Shen, Oklahoma State University
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Austerity Measures: Do they avert solvency crises?
By Christos Shiamptanis; Wilfrid Laurier University
presented by: Christos Shiamptanis, Wilfrid Laurier University
Optimal Taxation Under Capital-Skill Complementarity
By Ozlem Kina; European University Institute
Ctirad Slavik; CERGE-EI
Hakki Yazici; Sabanci University
presented by: Ozlem Kina, European University Institute
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Tax Smoothing under Balanced Budget Rules in the U.S.
By Eva de Francisco; Bureau of Economic Analysis
presented by: Eva de Francisco, Bureau of Economic Analysis
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Session: Credit 1
November 2, 2019 8:00 to 9:30
Business College Complex Pavilion M2422
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Credit Boom, Debt Overhang, and Aggregate Productivity Trap
By Sichuang Xu; HKUST
presented by: Sichuang Xu, Chinese University of Hong Kong (Shenzhen)
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On the cost of financial intermediation
By Gang Zhang; Cheung Kong Graduate School of Business
presented by: Gang Zhang, Cheung Kong Graduate School of Business
Sectoral Price Dynamics during the Asian Financial Crisis: The Role of Financial Constraints
By Junhyong Kim; University of Wisconsin-Madison
Annie Soyean Lee; UW-Madison
presented by: Junhyong Kim, University of Wisconsin-Madison
Credit Supply Driven Boom-Bust Cycles
By Yavuz Arslan; Bank for International Settlements
Bulent Guler; Indiana University Bloomington
Burhanettin Kuruscu; University of Toronto
presented by: Bulent Guler, Indiana University Bloomington
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Session: Export, Trade, and Allocation
November 2, 2019 8:00 to 9:30
Business College Complex N022
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Capital-Reallocation Frictions and Trade Shocks
By Andrea Lanteri; Duke University
Pamela Medina; University of Toronto
Eugene Tan; University of Toronto
presented by: Eugene Tan, University of Toronto
Input-Output Linkages and Sectoral Volatility
By Michael Olabisi; Michigan State University
presented by: Michael Olabisi, Michigan State University
Internal Geography and the Effect of Imports on Non-Homothetic Consumption Patterns within the U.S.
By Volodymyr Lugovskyy; Indiana University
presented by: Volodymyr Lugovskyy, Indiana University
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Session: Financial Fragility
November 2, 2019 8:00 to 9:30
Business College Complex N106
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Back to the Real Economy: The Effects of Risk Perception Shocks on the Term Premium and Bank Lending
By Julieta Yung; Bates College
Kristina Bluwstein; Bank of England
presented by: Julieta Yung, Bates College
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Banking Competition, Fragility, and the Incentive Effects of Bailout Policy
By Jiahong Gao; University of Alabama
presented by: Jiahong Gao, University of Alabama
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Macroeconomic transmission of a financial fire sale: A story of aggregate demand
By Nicolas Maeder; Vanderbilt University
presented by: Nicolas Maeder, Vanderbilt University
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Session: Firm Productivity and Growth
November 2, 2019 8:00 to 9:30
Business College Complex N124
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Sequential Movement Pattern of Firm Births and Deaths at the State Level
By Mi Luo; Emory University
Can Tian; University of North Carolina
Gang Zhang; Cheung Kong Graduate School of Business
presented by: Mi Luo, Emory University
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Compositional Nature of Firm Growth and Aggregate Fluctuations
By Vladimir Smirnyagin; University of Minnesota
presented by: Vladimir Smirnyagin, University of Minnesota
International Trade, Lobbying and Endogenous Misallocation
By Jaedo Choi; University of Michigan
presented by: Jaedo Choi, University of Michigan
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Session: Fiscal Policy 1
November 2, 2019 8:00 to 9:30
Business College Complex N105
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The Consequences of Policy Uncertainties on Macroeconomics and Asset Returns in The Era of Fiscal Limit
By Junjie Guo; Indiana University
presented by: Junjie Guo, Indiana University
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Government Spending during Sudden Stop Crises
By Siming Liu; Shanghai University of Finance and Economics
presented by: Siming Liu, Shanghai University of Finance and Economics
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Public Pension Reforms and Fiscal Foresight: Narrative Evidence and Aggregate Implications
By Huixin Bi; Federal Reserve Bank of Kansas City
Sarah Zubairy; Texas A&M University
presented by: Huixin Bi, Federal Reserve Bank of Kansas City
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Session: Macroeconometrics and Forecasting
November 2, 2019 8:00 to 9:30
Business College Complex N102
Bayesian Inference of Threshold Vector Autoregressive Models
By Gabriel Bruneau; Bank of Canada
James Chapman; Bank of Canada
presented by: Gabriel Bruneau, Bank of Canada
Heterogeneity and Aggregate Fluctuations
By Minsu Chang; Georgetown University
presented by: Minsu Chang, Georgetown University
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The Macroeconomic Impact of Oil Industry Uncertainty: New Evidence from Millions of Financial Analyst Forecasts
By Xiaohan Ma; Texas Tech University
Roberto Samaniego; George Washington University
presented by: Xiaohan Ma, Texas Tech University
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Session: Monetary Policy 2
November 2, 2019 8:00 to 9:30
Business College Complex N021
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Monetary Policy with Judgment
By Paolo Gelain; Federal Reserve Bank of Cleveland
Simone Manganelli; European Central Bank
presented by: Paolo Gelain, Federal Reserve Bank of Cleveland
Monetary Policy and Inequality: How Does One Affect the Other?
By Eunseong Ma; Louisiana State University
presented by: Eunseong Ma, Louisiana State University
Monetary policy gradualism and the nonlinear effects of monetary shocks
By Luca Rossi; Bank of Italy
Filippo Natoli; Bank of Italy
Luca Metelli; Bank of Italy
presented by: Luca Rossi, Bank of Italy
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Session: Structural Change and Growth
November 2, 2019 8:00 to 9:30
Business College Complex N103
Structural Change Under Home Production with Time to Consume
By William Bednar; Tepper School of Business
Nick Pretnar; Carnegie Mellon University, Tepper School of Business
presented by: Nick Pretnar, Carnegie Mellon University, Tepper School of Business
Structural Change, Gender Gaps and Educational Choice
By Paul Reimers; Goethe University
presented by: Paul Reimers, Goethe University
Rule of Law, Economic Structure and Development
By Roberto Samaniego; George Washington University
Juliana Yu Sun; Singapore Management University
presented by: Roberto Samaniego, George Washington University
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Session: Credit Frictions
November 2, 2019 10:00 to 11:30
Business College Complex N100
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Earnings-Based Borrowing Constraints and Macroeconomic Fluctuations
By Thomas Drechsel; University of Maryland
presented by: Thomas Drechsel, University of Maryland
Global Macro-Financial Cycles and Spillovers
By Jongrim Ha; World Bank
M. Ayhan Kose; World Bank
Christopher Otrok; University of Missouri
Eswar Prasad; Cornell University
presented by: Jongrim Ha, World Bank
Bank Monitoring and Liquidity in the Business Cycles
By Qingqing Cao; Michigan State University
Marco Di Pietro; Sapienza University of Rome
Sotirios Kokas; University of Glasgow
Raoul Minetti; Michigan State University
presented by: Qingqing Cao, Michigan State University
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Session: Durable Goods
November 2, 2019 10:00 to 11:30
Business College Complex N021
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Financial Frictions, Durable Goods and Monetary Policy
By Ugochi Emenogu; Bank of Canada
Leo Michelis; Ryerson University
presented by: Ugochi Emenogu, Bank of Canada
Did Durable Goods Producing States Suffer a Greater Great Depression?
By Dong Cheng; Union College
Mario Crucini; Vanderbilt University
Hanjo Kim; Vanderbilt University
presented by: Mario Crucini, Vanderbilt University
Computerizing households and the role of investment-specific productivity in business cycles
By Seunghoon Na; Purdue University
Hyunseung Oh; Federal Reserve Board
presented by: Hyunseung Oh, Federal Reserve Board
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Session: Firms
November 2, 2019 10:00 to 11:30
Business College Complex N106
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Dispersed Information, Learning, and Firm Dynamics in a Stochastic Equilibrium
By Can Tian; University of North Carolina
presented by: Can Tian, University of North Carolina
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The price theory and empirics of inventory management
By Fei Li; University of North Carolina Chapel Hill
Charles Murry; Boston College
Can Tian; University of North Carolina
Yiyi Zhou; Stony Brook University
presented by: Fei Li, University of North Carolina Chapel Hill
Markups and Market Power: Evidence from the National Accounts
By Benjamin Bridgman; U.S. Bureau of Economic Analysis
presented by: Benjamin Bridgman, U.S. Bureau of Economic Analysis
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Session: Inflation
November 2, 2019 10:00 to 11:30
Business College Complex N022
The Perils of Tracking r-Star
By Saroj Bhattarai; University of Texas at Austin
Jae Won Lee; University of Virginia
Woong Yong Park; Seoul National University
presented by: Jae Won Lee, University of Virginia
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Inflation Expectations and nonlinearities in the Phillips Curve
By Alexander Doser; Northwestern University
Ricardo Nunes; University of Surrey
Nikhil Rao; University of Michigan
Viacheslav Sheremirov; Federal Reserve Bank of Boston
presented by: Nikhil Rao, University of Michigan
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Thinking Outside the Box: Do SPF Respondents Have Anchored Inflation Expectations?
By Carola Binder; Haverford College
Wesley Janson; Federal Reserve Bank of Cleveland
Randal Verbrugge; Federal Reserve Bank of Cleveland
presented by: Randal Verbrugge, Federal Reserve Bank of Cleveland
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Session: International Capital Markets
November 2, 2019 10:00 to 11:30
Business College Complex N103
Sticky Capital Controls
By Miguel Acosta Henao; Graduate Center, CUNY
Laura Alfaro; Harvard Business School
Andres Fernandez; Inter American Development Bank
presented by: Miguel Acosta Henao, Graduate Center, CUNY
Risk Sharing, Asset Prices and the Terms of Trade: Effects of Capital Market Integration
By Giancarlo Corsetti; University of Cambridge
Anna Lipinska; Federal Reserve Board
Giovanni Lombardo; BIS
presented by: Anna Lipinska, Federal Reserve Board
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Tolerance of Flexibility: Foreign Exchange Intervention and Managed Floating Redux
By dong lu; Renmin University of China
Hang Zhou; University of International Business and Economics
presented by: Hang Zhou, University of International Business and Economics
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Session: Political Economy
November 2, 2019 10:00 to 11:30
Business College Complex N105
Partisan Politics in Fiscal Unions: Evidence from U.S. States
By Gerald Carlino; Federal Reseve Bank of Philadelphia
Thorsten Drautzburg; Federal Reserve Bank of Philadelphia
Robert Inman; Wharton School, University of Pennsylvania
Nicholas Zarra; New York University
presented by: Thorsten Drautzburg, Federal Reserve Bank of Philadelphia
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Political Connections and Government Spending Allocation in the U.S.
By Joonkyu Choi; Federal Reserve Board
Veronika Penciakova; Federal Reserve Bank of Atlanta
Felipe Saffie; University of Maryland
presented by: Joonkyu Choi, Federal Reserve Board
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Are State Governments Patient Stewards of the Public Purse?
By Xavier Martin Bautista; University of Houston
Steven Craig; University of Houston
Yuhsin Hsu; University of Houston
Bent Sorensen; University of Houston
Vasundhara Tanwar; University of Houston
Priyam Verma; University of Houston
presented by: Steven Craig, University of Houston
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Session: Technological Change
November 2, 2019 10:00 to 11:30
Business College Complex N102
Asset Pricing Implications of Disruptive Technological Change
By John Laitner; University of Michigan
Dmitriy Stolyarov; University of Michigan
presented by: Dmitriy Stolyarov, University of Michigan
A Model of Entry, Exit, and Endogenous Productivity Dispersion
By Daisoon Kim; North Carolina State University
Yoonsoo Lee; Sogang University
presented by: Daisoon Kim, North Carolina State University
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Growing through Spinoffs: Corporate Governance and Firm Entry
By Raoul Minetti; Michigan State University
Pierluigi Murro; LUISS University
Maurizio Iacopetta; OFCE Sciences Po and Skema Business School
presented by: Maurizio Iacopetta, OFCE Sciences Po and Skema Business School
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Session: Plenary Talk 2: Veronica Guerrieri (University of Chicago, Booth School of Business)
November 2, 2019 12:00 to 13:00
Business College Complex N100
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Session: Panel "Women in Macroeconomics"
November 2, 2019 14:00 to 15:00
Business College Complex N130
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Lisa Cook (Michigan State University - Chair)
Anna Paulson (Federal Reserve Bank of Chicago)
Alessandra Fogli (Federal Reserve Bank of Minneapolis)
Ugochi Emenogu (Bank of Canada)
Anna Stansbury (Harvard)
Session: Credit 2
November 2, 2019 15:30 to 17:00
Business College Complex N022
Overcoming Borrowing Stigma: The Design of Lending-of-Last-Resort Policies
By Yunzhi Hu; UNC Kenan-Flagler
Hanzhe Zhang; Michigan State University
presented by: Hanzhe Zhang, Michigan State University
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Asymmetric Effects of Sectoral Shifts under Low and High Uncertainty
By Kimberly Berg; Miami University
Nam Vu; Miami University
presented by: Nam Vu, Miami University
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Monetary Policy and Firm Heterogeneity: The Role of Leverage Since the Financial Crisis
By Aeimit Lakdawala; Michigan State University
Timothy Moreland; Michigan State University
presented by: Timothy Moreland, Michigan State University
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Session: Experimental Monetary Economics
November 2, 2019 15:30 to 17:00
Business College Complex N103
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Playing With Money
By Peter Norman; University of North Carolina Chapel Hill
presented by: Peter Norman, University of North Carolina Chapel Hill
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Inflation and Welfare in the Laboratory
By Janet Hua Jiang; Bank of Canada
Daniela Puzzello; Indiana University
Cathy Zhang; Purdue University
presented by: Cathy Zhang, Purdue University
The Friedman Rule in the Laboratory
By John Duffy; University of California, Irvine
Daniela Puzzello; Indiana University
presented by: Daniela Puzzello, Indiana University
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Session: Firm and Industry Dynamics
November 2, 2019 15:30 to 17:00
Business College Complex N021
The Role of Nonemployers in Business Dynamism and Aggregate Productivity
By Pedro Bento; Texas A&M University
Diego Restuccia; University of Toronto
presented by: Pedro Bento, Texas A&M University
Strategic Innovation, Markups, and Industry Dynamics
By Laurent Cavenaile; University of Toronto
Murat Celik; University of Toronto
Xu Tian; University of Toronto
presented by: Murat Celik, University of Toronto
Relationship Banking and Firm Entry Dynamics
By Qingqing Cao; Michigan State University
Paolo Giordani; LUISS
Raoul Minetti; Michigan State University
Pierluigi Murro; LUISS University
presented by: Raoul Minetti, Michigan State University
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Session: Growth and Demography
November 2, 2019 15:30 to 17:00
Business College Complex N102
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Institutional Responses to Aging Populations and Economic Growth: A Panel Data Approach
By Patrick Emerson; Oregon State University
Shawn Knabb; Western Washington University
Anca-Ioana Sirbu; Western Washington University
presented by: Anca-Ioana Sirbu, Western Washington University
Regulatory Growth Theory
By Danxia Xie; Tsinghua University
presented by: Danxia Xie, Tsinghua University
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Disappearing Routine Occupations and Declining Prime-Age Labor Force Participation
By Didem Tuzemen; Federal Reserve Bank of Kansas City
presented by: Didem Tuzemen, Federal Reserve Bank of Kansas City
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Session: Prices and Wages
November 2, 2019 15:30 to 17:00
Business College Complex N106
Downward Nominal Wage Rigidity in the United States
By Yoon J. Jo; Texas A&M University
presented by: Yoon J. Jo, Texas A&M University
Using Brexit to Identify the Nature of Price Rigidities
By Adam Shapiro; Federal Reserve Bank of San Francisco
presented by: Adam Shapiro, Federal Reserve Bank of San Francisco
Product Revenue and Price Setting: Evidence and Aggregate Implications
By DongIk Kang
Andrew Usher; University of Michigan
presented by: Andrew Usher, University of Michigan
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Session: Public Debt and Fiscal Policy
November 2, 2019 15:30 to 17:00
Business College Complex Pavilion M036
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Questioning the puzzle: fiscal policy, real exchange rate and inflation
By Laurent Ferrara; Banque de France
Luca Metelli; Bank of Italy
Filippo Natoli; Bank of Italy
Daniele Siena; Banque de France
presented by: Daniele Siena, Banque de France
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Optimal public debt indexation in advanced economies
By Patricia Gomez-Gonzalez; Fordham University
presented by: Patricia Gomez-Gonzalez, Fordham University
The Granular Origins of Sovereign Default
By Jun Hee Kwak; University of Maryland, College Park
presented by: Jun Hee Kwak, University of Maryland, College Park
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Session: Search
November 2, 2019 15:30 to 17:00
Business College Complex N105
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Search and Credit Frictions in the Housing Market
By Miroslav Gabrovski; University of Hawaii, Manoa
Victor Ortego-Marti; University of California Riverside
presented by: Miroslav Gabrovski, University of Hawaii, Manoa
The Impact of Referrals on Sectoral Reallocation
By Benjamin Raymond; Bureau of Labor Statistics
presented by: Benjamin Raymond, Bureau of Labor Statistics
Precautionary Search and Human Capital over the Business Cycle
By Benjamin Griffy; University at Albany, SUNY
Stanislav Rabinovich; University of Pennsylvania
presented by: Benjamin Griffy, University at Albany, SUNY
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Session: Search and Barganining in Labor Markets
November 2, 2019 15:30 to 17:00
Business College Complex N124
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Selective Bargain Hunting. A Concise Test of Rational Consumer Search
By Chloe Lee; Federal Reserve Bank of Boston
Wen Long; University of Houston
Maria Luengo-Prado; Federal Reserve Bank of Boston
Bent Sorensen; University of Houston
presented by: Bent Sorensen, University of Houston
Misallocation Effects of Labor Market Frictions
By Stanislav Rabinovich; University of Pennsylvania
Ronald Wolthoff; University of Toronto
presented by: Stanislav Rabinovich, University of Pennsylvania
Informal Caregiving, Family Power Dynamics, and Labor Market Rigidities
By Neha Bairoliya; University of Southern California
presented by: Neha Bairoliya, University of Southern California
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Session: Sovereign Debt
November 2, 2019 15:30 to 17:00
Business College Complex Pavilion M010
Interest Rate Uncertainty and Sovereign Default Risk
By Alok Johri; McMaster University
Shahed Khan; University of Western Ontario
Cesar Sosa-Padilla; Notre Dame
presented by: Shahed Khan, University of Western Ontario
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Sovereign Debt Recovery After Default: Bygones No Longer
By Xiaohan Wang; Stony Brook University
presented by: Xiaohan Wang, Stony Brook University
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Co-movements and Determinants of Sovereign Credit Default Swaps
By Hasan Isomitdinov; The University of Alabama
Junsoo Lee; University of Alabama
presented by: Junsoo Lee, University of Alabama
Financial Development and Vulnerability to External Shocks: The Role of Sovereign Debt Composition
By Eugenia Gonzalez-Aguado; University of Minnesota
presented by: Eugenia Gonzalez-Aguado, University of Minnesota
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Session: Capital Markets
November 3, 2019 8:00 to 9:30
Business College Complex N022
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Corporate Debt Maturity and the Real Economy
By Ram Yamarthy
presented by: Ram Yamarthy,
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ECB Announcements and Stock Market Volatility
By Frederik Neugebauer; WHU - Otto Beisheim School of Management
presented by: Frederik Neugebauer, WHU - Otto Beisheim School of Management
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Recurrent Bubbles and Economic Growth
By Pablo Guerron-Quintana; Boston College
Tomohiro Hirano; The University of Tokyo
Ryo Jinnai; Hitotsubashi University
presented by: Ryo Jinnai, Hitotsubashi University
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Session: Currencies, money, and finance
November 3, 2019 8:00 to 9:30
Business College Complex N125
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Currency Manipulation in a Model of Money, Banking, and Trade
By Caroline Betts; USC
presented by: Caroline Betts, USC
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Central Bank Digital Currency: A Corporate Finance Perspective
By Mei Dong; University of Melbourne
Xiaolin(Sylvia) Xiao; Peking University
presented by: Xiaolin(Sylvia) Xiao, Peking University
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The Athey, Atkeson, and Kehoe Model with Periodic Revelation of Private Information
By Eunmi Ko; Rochester Institute of Technology
Narayana Kocherlakota; University of Rochester
presented by: Eunmi Ko, Rochester Institute of Technology
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Session: Heterogeneity
November 3, 2019 8:00 to 9:30
Business College Complex N021
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Identify Aggregate Shocks with Micro-level Heterogeneity: Financial Shocks and Investment Fluctuation
By Xing Guo; Bank of Canada
presented by: Xing Guo, Bank of Canada
Heterogeneity in Individual Expectations, Optimism/Pessimism, and Constant-Gain Learning
By Stephen Cole; Marquette University
Fabio Milani; University of California, Irvine
presented by: Stephen Cole, Marquette University
The Demographic Composition of Cyclical Consumption Volatility
By Anson Zhou; University of Wisconsin Madison
presented by: Anson Zhou, University of Wisconsin Madison
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Session: Labor Markets
November 3, 2019 8:00 to 9:30
Business College Complex N105
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Technological Advancements and Labor Markets
By Hakki Ozdenoren; Carnegie Mellon University
presented by: Hakki Ozdenoren, Carnegie Mellon University
The Aggregate Effects of Labor Market Concentration
By Miren Azkarate-Askasua; Toulouse School of Economics
Miguel Zerecero; Toulouse School of Economics
presented by: Miren Azkarate-Askasua, Toulouse School of Economics
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Comparative Advantage and Moonlighting
By Stephane Auray; CREST-Ensai
David Fuller; University of Wisconsin-Oshkosh
Guillaume Vandenbroucke; Federal Reserve Bank of Saint Louis
presented by: David Fuller, University of Wisconsin-Oshkosh
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Session: Monetary and Fiscal Policy
November 3, 2019 8:00 to 9:30
Business College Complex N012
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Distributional Response to Fiscal Stimulus
By François-Michel Boire; University of Western Ontario
Thibaut Duprey; Bank of Canada
Alexander Ueberfeldt; Bank of Canada
presented by: François-Michel Boire, University of Western Ontario
The strength of the Credit Channel in the US and Canada and Balance Sheet Based Bank Conditions and Financial Stability Indices
By Xiangjin Shen; Bank of Canada
Norman Swanson; Rutgers University
presented by: Xiangjin Shen, Bank of Canada
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Monetary Stimulus Policy in China: the Bank Credit Channel
By Min Zhang; East China Normal University
Yahong Zhang; University of Windsor
presented by: Yahong Zhang, University of Windsor
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Session: Sovereign Risk
November 3, 2019 8:00 to 9:30
Business College Complex Pavilion M010
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Corporate Balance Sheets and Sovereign Risk Premia
By Steve Pak Yeung Wu; UW-Madison
presented by: Steve Pak Yeung Wu, UW-Madison
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Sovereign Risk, Exchange Rate Volatility, and Economic Activity
By Nils Mattis Gornemann; Federal Reserve Board
presented by: Nils Mattis Gornemann, Federal Reserve Board
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Fiscal Commitment and Sovereign Default Risk
By Siming Liu; Shanghai University of Finance and Economics
Hewei Shen; University of Oklahoma
presented by: Hewei Shen, University of Oklahoma
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Session: Taxation and Welfare
November 3, 2019 8:00 to 9:30
Business College Complex N102
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Tax Attitudes and Optimal Income Taxation
By Marcelo Arbex; University of Windsor
Enlinson Mattos; Fundacao Getulio Vargas
presented by: Marcelo Arbex, University of Windsor
Welfare and Property Transaction Taxes
By Yunho Cho; Jinan University
Shuyun Li; University of Melbourne
Lawrence Uren; University of Melbourne
presented by: Yunho Cho, Jinan University
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Using Advance Layoff Notices as a Labor Market Indicator
By Pawel Krolikowski; Federal Reserve Bank of Cleveland
Kurt Lunsford; Federal Reserve Bank of Cleveland
Meifeng Yang; Federal Reserve Bank of Cleveland
presented by: Pawel Krolikowski, Federal Reserve Bank of Cleveland
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Session: Business Cycle
November 3, 2019 10:00 to 11:30
Business College Complex N022
Synchronization of Informal and Formal Economy Business Cycles
By Shu Yu; The World Bank Group
M. Ayhan Kose; World Bank
Franziska Ohnsorge; World Bank
Ceyhun ELGIN; Boston University & Bogazici University
presented by: Shu Yu, The World Bank Group
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Business Cycles with Oligopsonistic Competition in Labor Markets
By Sami Alpanda; University of Central Florida
presented by: Sami Alpanda, University of Central Florida
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Leveraged housing and job dynamics during the Great Recession
By Joaquin Garcia-Cabo; Federal Reserve Board
Eva De Francisco; Bureau of Economic Analysis
presented by: Joaquin Garcia-Cabo, Federal Reserve Board
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Session: Fiscal Policy 2
November 3, 2019 10:00 to 11:30
Business College Complex N021
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Fiscal Stimulus and Inflation Expectations in a Policy Constrained Environment
By Ruoyun Mao; Indiana University
Shu-Chun Yang; International Monetary Fund; National Sun Yat-Sen University
presented by: Ruoyun Mao, Indiana University
Fiscal Expansions in Secular Stagnation: What if it isn't Secular?
By Vaishali Garga; Federal Reserve Bank of Boston
presented by: Vaishali Garga, Federal Reserve Bank of Boston
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Health Inequality: Role of Insurance and Technological Progress
By Siddhartha Sanghi; Washington University in St. Louis
presented by: Siddhartha Sanghi, Washington University in St. Louis
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Session: Inequality and Welfare State
November 3, 2019 10:00 to 11:30
Business College Complex N102
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Rethinking the Welfare State
By Nezih Guner; CEMFI
Remzi Kaygusuz; Sabanci University
Gustavo Ventura; Arizona State University
presented by: Remzi Kaygusuz, Sabanci University
Observed and Unobserved Sources of Wealth Inequality
By Heejeong Kim; Concordia University
presented by: Heejeong Kim, Concordia University
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The Economics of Shotgun Marriage
By Egor Kozlov; Northwestern Universtiy
presented by: Egor Kozlov, Northwestern Universtiy
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Session: Liquidity and Collateral
November 3, 2019 10:00 to 11:30
Business College Complex N124
Inflation, Interest Rates, Stock Returns and Velocity of Money in a Model of Precautionary Money Demand
By Sergio Salas; Pontifical Catholic University of Valparaiso
presented by: Sergio Salas, Pontifical Catholic University of Valparaiso
The International Spillover Effects of U.S. Monetary Policy Uncertainty
By Aeimit Lakdawala; Michigan State University
Timothy Moreland; Michigan State University
Matthew Schaffer; University of North Carolina - Greensboro
presented by: Matthew Schaffer, University of North Carolina - Greensboro
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Patents as Collateral: Innovative Financing for Innovation
By Suleyman Gozen; The University of Chicago
presented by: Suleyman Gozen, The University of Chicago
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Session: Macroeconomic Theory and Applications
November 3, 2019 10:00 to 11:30
Business College Complex N103
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Finite-State Markov Chain Approximation and Its Applications in Economics
By Keyvan Eslami; Ryerson University
Thomas Phelan; Federal Reserve Bank of Cleveland
presented by: Thomas Phelan, Federal Reserve Bank of Cleveland
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Perceived Uncertainty Shocks, Excess Optimism-Pessimism, and Learning in the Business Cycle
By Pratiti Chatterjee; University of New South Wales
Fabio Milani; University of California, Irvine
presented by: Pratiti Chatterjee, University of New South Wales
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Rational Inattention and Ignorance Equivalence
By Zachary Stangebye; University of Notre Dame
Michele Muller-Itten; University of Notre Dame
Roc Armenter; Federal Reserve Bank of Philadelphia
presented by: Zachary Stangebye, University of Notre Dame