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1999
Annual Meetings
of the Society for Economic Dynamics and Control
Porto
Conte Research Center
Alghero,
Sardinia, ITALY
June
27 - July 30
Conference
Program
Plenary
Sessions:
Sunday,
June 27,
5:30 6:30 p.m.
Guido Tabellini, Università Bocconi and IGIER,
Fiscal Policy in Representative
Democracies.
Monday, June 28,
5:30 6:30 p.m.
Andrew Postlewaite, University of Pennsylvania,
Social Arrangements
and Economic Behavior.
Tuesday, June
29, 5:30 6:30 p.m.
Robert E. Lucas, Jr., University of
Chicago, Externalities
and Cities.
Regular
Sessions:
There
will be three time slots for each day on Sunday,
Monday and Tuesday:
1
= 9:30 11:30 a.m.
2
= 1:00 3:00 p.m.
3
= 3:15 5:15 p.m.
There
will be two time slots on Wednesday:
1
= 9:00 11:00 a.m.
2
= 11:15 a.m. 12:45 p.m.
Presenter
is highlighted in bold.
Sunday
1
Session
A: Localized Spillovers
and Agglomeration
Room:
Anghelu Ruju
Chair:
Francesco Pigliaru
- Agglomeration
and Trade Revisited,
Gianmarco Ottaviano, Università di Bologna,
Jacques-François Thisse, Université Catholique
de Louvain
- Geography
of Innovation and Production in Europe and their
Effects on Specialization and Trade,
Laura Bottazzi, Università Bocconi and IGIER,
Giovanni Peri, Università Bocconi
and IGIER.
- Death
and Birth of a City: The Myth of the (Arabian)
Phoenix,
Andrea Lamorgese, Université
Libre de Bruxelles.
- Information
Spillovers and Factors Adjustment,
Luigi Guiso, Università di
Sassari and Ente "Luigi Einaudi",
Fabiano Schivardi, Banca d'Italia.
Session
B: Dynamic
Contracts and Bargaining
Room:
Foradada
Chair:
Leonardo Felli
- Learning,
Commitment and Downward-Flexible Wage Dynamics,
Thomas de Garidel-Thoron, University
College of London.
- Gradual
Concessions, Delays, and the Role of Outside
Options in Bargaining,
Olivier Compte, Ecole Nationale des Ponts
et Chaussées, Philippe Jehiel, Ecole Nationale
des Ponts et Chaussées and University College
London.
- Costly
Bargaining and Renegotiation,
Luca Anderlini, St. John's College, Cambridge,
Leonardo Felli, London School
of Economics.
- Providing
Managerial Incentives: Do Benchmarks Matter?
Juan Pedro Gomez, ITAM and Universidad
Carlos III de Madrid, Tridib Sharma, ITAM.
Session
C:
Crimes and Misdemeanors
Room:
Cabirol
Chair:
Peter Rupert
- What
Accounts for the Decline in Crime in the 1990's?
Ayse Imrohoroglu, University of Southern California,
Antonio Merlo, New York University, Peter Rupert,
Federal Reserve Bank of Cleveland.
- Crime
and Unemployment,
Kenneth Burdett, Essex University, Ricardo
Lagos, London School of Economics, Randall Wright,
University of Pennsylvania.
- Dynastic
Criminal Organizations,
Daria Zakharova, University
of Minnesota and Federal Reserve Bank of Minneapolis.
- Smuggling,
Black Markets in Currencies, and the Inflation
Tax: A Welfare Analysis,
Alex Mourmouras, International
Monetary Fund.
Session
D:
Investment Dynamics
Room:
Baratz
Chair:
Michael Horvath
- Do
Adjustment Costs Explain Investment-Cash Flow
Insensitivity?,
Sangeeta Pratap, ITAM.
- Firm
Specific Learning and the Investment Behavior
of Large and Small Firms,
Wenli Li, Federal Reserve Bank of Richmond,
John Weinberg, Federal Reserve Bank of
Richmond.
- Business
Cycles and the Failure of Marginal Firms,
Michael Horvath, Stanford University.
- Strategic
Technology Investment under Uncertainty,
Kuno Huisman,Tilburg University, Peter
Kort, Tilburg University.
Session
E:
International Business Cycles
Room:
Nettuno
Chair: Christian Zimmermann
- Static
Labor Supply in a Two-Good Two-Country Model:
Explaining International Comovements,
J.O. Hairault, Université de
Paris I.
- International
Business Cycles; Facts and Fiction,
Steve Ambler, Université du Québec à Montréal,
Emanuela Cardia, Université de Montréal, Christian
Zimmermann, Université du Québec
à Montréal.
- Optimal
and Simple Monetary Rules and Exchange Regimes
in an Open-Economy Business Cycle Model,
Luca Dedola, Banca d'Italia, Sylvain Leduc,
Federal Reserve Bank of Philadelphia.
- Effects
of Government Spending in Open Economies: Empirical
Evidence and Predictions of a Dynamic General
Equilibrium Model With Nominal Rigidities,
Robert Kollmann, Université
de Paris XII.
Session
F:
Monetary Policy I
Room:
Calik
Chair: Vincenzo Quadrini
- Why
do Prices Respond so Sluggishly to Monetary
Policy Shocks?
David Andolfatto, Bank of Canada,
Guang-Jia Zhang, Bank of Canada
- Is
Monetary Policy Based on the Phillips Curve
Relation Optimal?
Thomas F. Cooley, University of Rochester,
Vincenzo Quadrini, Duke University.
- Unemployment
Dynamics and Monetary Policy,
Gil Mehrez, Georgetown University,
Natacha Valla, European University Institute.
Session
G:
Optimal Taxation
Room:
Dragunara
Chair: Paul Klein
- Time-Consistent
Optimal Taxation,
Paul Klein, Stockholm University,
José-Víctor Ríos-Rull, University of Pennsylvania.
- On
Optimal Taxation in Overlapping Generations
Economies,
Thomas I. Renström, Tilburg
University.
- Optimal
Taxation: An Overlapping Generations Approach,
Carlos Garriga, Universitat
de Barcelona.
- The
Optimal Mix of Taxes on Money, Consumption and
Income,
Fiorella De Fiore, European
Central Bank, Pedro Teles, Banco de Portugal
and Universidade Católica Portuguesa.
Sunday
2
Session
A:
Equilibrium Models of
Political Processes
Room:
Nettuno
Chair: Thomas Palfrey
- An
Experimental Study of Jury Decisions,
Richard D. McKelvey, California Institute of
Technology, Thomas R. Palfrey, California
Institute of Technology.
- Ambiguity
in Equilibrium for Two Party Electoral Competition,
Enriqueta Aragones, Universitat Pompeu
Fabra, Andrew Postlewaite, University of Pennsylvania.
- Government
Turnover in Parliamentary Democracies,
Daniel Diermeier, Northwestern University, Antonio
Merlo, New York University.
Session
B: Industry Dynamics
& the Organization of Production
Room:
Calik
Chair: Matthew Mitchell
- Does
Technological Change Spur Venture Capital?
Masako Ueda, Universitat Pompeu Fabra.
- Regional
Employment Dynamics,
Keith Sill, Federal Reserve
Bank of Philadelphia.
- Industry
Dynamics: Aggregate Uncertainty, Heterogeneity,
and the Entry and Exit of Firms,
Mallika Ishwaran, Carnegie
Mellon University.
Session
C: Finance and
Growth
Room:
Anghelu Ruju
Chair: Marco Vannini
- Interactions
Between Economic and Financial Development,
Luca Deidda, University of
London, Università di Sassari, and CRENoS.
- Financial
Structure, Inequalities and Growth,
Thierry Tressel, DELTA and
Université de Cergy-Pontoise.
- Financial
Development and Economic Growth,
Aubhik Khan, University of
Virginia and Federal Reserve Bank of Philadelphia.
- Banking
Market Structure, Financial Dependence and Growth:
International Evidence from Industry Data,
Nicola Cetorelli, Federal Reserve
Bank of Chicago, Michele Gambera, Federal Reserve
Bank of Chicago.
Session
D: Dynamic Fiscal
Policy
Room:
Foradada
Chair: Gerhard Glomm
- Capital
versus Labor Taxation with Heterogeneous Agents,
Jonathan Heathcote, Stockholm
School of Economics, David Domeij, Stockholm
School of Economics.
- Long-run
Growth with Distortionary Government Expenditures
and Transfers,
Scott Baier, University of Notre Dame, Gerhard
Glomm, Michigan State University.
- Tax
Policy, Growth Convergence and Level Convergence,
Steven P. Cassou, Kansas State
University, M. Junaid Khawaja, Kansas State
University.
Session
E: Monetary Policy
II
Room:
Dragunara
Chair: Andres Erosa
- Inflation,
Heterogeneity and Costly Credit: How Regressive
is the Inflation Tax?
Andres Erosa, University of
Western Ontario, Gustavo Ventura, University
of Western Ontario.
- Optimal
Inflation Tax with Imperfect Competition in
the Banking Sector,
Bernardino Adao, Banco de Portugal.
- Poole
Revisited,
Fabrice Collard, CEPREMAP, Harris Dellas, University
of Bern, Guy Ertz, Université Catholique
de Louvain.
Session
F: International
Finance
Room:
Baratz
Chair: Gaetano Antinolfi
- International
Financial Crises and the Term Structure of Debt
Contracts,
Marco Espinosa-Vega, Federal Reserve
Bank of Atlanta,
Steve Russell, IUPUI.
- On
Domestic Financial Market Frictions, Unrestricted
International Capital Flows, and Crises in Small
Open Economies,
Gaetano Antinolfi, Washington
University, Elisabeth Huybens, ITAM.
- Parameterizing
Currency Risk in the EMS: The Irish Pound and
Spanish Peseta against the German Mark,
G.C. Lim, University of Melbourne, Paul D.
McNelis, Georgetown University.
Session
G: Economics
of the Household
Room:
Cabirol
Chair: Peter Rupert
- Household
Production with Time to Build,
Paul Gomme, Federal Reserve Bank of Cleveland,
Finn Kydland, Carnegie Mellon University,
Peter Rupert, Federal Reserve Bank of Cleveland.
- Social
Norms and Intergenerational Transfers: Evidence
from a Pre-Modern Economy,
Maristella Botticini, Boston
University.
- An
Economic Analysis of Family Structure: Inheritance
Rules and Marriage Systems,
Nezih Guner, University of
Rochester.
- Endogenous
Labor Market Rigidities and Family Ties,
Alessandra Fogli, University of Pennsylvania.
Sunday
3
Session
A: Time Series
Room:
Foradada
Chair: Oliver Linton
- Contemporaneous
Aggregation of Linear Dynamic Models in Large
Economies,
Marco Lippi, Università di Roma "La Sapienza,"
Paolo Zaffaroni, Banca d'Italia.
- Business
Cycle Asymmetries: Characterisation and Testing
Based on Markov-Switching Autoregressions,
Michael P. Clements, University
of Warwick, Hans-Martin Krolzig, Nuffield College,
Oxford.
- Sectoral
Business Cycle Dynamics Using Spatial Methods,
Timothy G. Conley, Northwestern
University, Bill Dupor, University of Pennsylvania.
- The
Asymptotic Distribution of Nonparametric Estimates
of the Lyapunov Exponent for Stochastic Time
Series,
Yoon-Jae Whang , Ewha University, Oliver Linton,
Yale University.
Session
B:
Dynamic Games and Dynamic Contracts
Room:
Anghelu Ruju
Chair: Alessandro Lizzeri
- Interim
Evaluations in Dynamic Tournaments: the Effects
of Midterm Exams,
Alessandro Lizzeri, Princeton University, Margaret
Meyer, Nuffield College, Oxford, Nicola Persico,
University of Pennsylvania.
- Dynamic
Costly State Verification,
Cheng Wang, Carnegie Mellon
University.
- Dynamic
Games with Hidden Actions and Hidden States,
Harold Cole, Federal Reserve
Bank of Minneapolis, Narayana Kocherlakota,
University of Minnesota.
- Optimal
Dynamic Contracts: Theory and Evidence from
the Life Insurance Industry,
Igal Hendel, Princeton University, Alessandro
Lizzeri, Princeton University.
Session
C: Firm
Dynamics
Room:
Calik
Chair: Gautam Gowrisankaran
- On
the Nature of Capital Adjustment Costs,
Russell Cooper, Boston University,
John Haltiwanger, University of Maryland.
- Firm
Investment under Imperfect Capital Markets:
A Structural Estimation,
Sangeeta Pratap, ITAM, Silvio Rendon,
Universitat Pompeu Fabra.
- Financial
Constraints and Firm Dynamics,
Andrea Caggese, London School
of Economics.
- Demand-Side
Increasing Returns: Implications for Firm Investment
Policy,
Andrew Young, Emory University.
Session
D: Financial
Intermediation
Room:
Dragunara
Chair: Pietro Reichlin
- Adverse
Selection of Investment Projects and the Business
Cycle,
Pietro Reichlin, Università
di Roma "La Sapienza," Paolo Siconolfi, Columbia
University.
- Financial
Intermediaries as Matchmakers: The Role of Market
Informational Frictions,
Zsolt Becsi, Federal Reserve
Bank of Atlanta, Victor Li, Princeton University,
Ping Wang, Vanderbilt University.
- Dynamic
Credit Relationships in General Equilibrium,
Anthony A. Smith, Jr., Carnegie
Mellon University, Cheng Wang, Carnegie Mellon
University.
- Credit
Crunch, Bank Lending Behaviour and Monetary
Policy: A Model of Financial Intermediation
with Heterogeneous Projects,
Mingwei Yuan, Bank of Canada,
Christian Zimmermann, Université du Québec à
Montréal.
Session
E: Trade
and Growth
Room:
Cabirol
Chair: Jonathan Eaton
- Diffusion
of Countries' Growth through Specialization
and Trade of Intermediate Inputs,
Antonio Manresa, Universitat de Barcelona, Monica
Pigem, Universitat de Barcelona.
- Is
Openness Relevant for Growth?
Jonathan Eaton, Boston University,
Samuel Kortum, Boston University.
- Dynamic
Interaction: A North-South Story of Technological
Diffusion,
Michelle P. Connolly, Duke
University.
- Vertical
Specialization and the Growth of World Trade,
Kei-Mu Yi, Federal Reserve
Bank of New York.
Session
F: Indeterminacy
Room:
Baratz
Chair: Guido Cozzi
- Ruling
Out Indeterminacy and Multiplicity: The Role
of Heterogeneity,
Berthold Herrendorf, University
of Warwick, Ákos Valentinyi, University of
Southampton, Robert Waldmann, Università di
Chieti.
- Technological
Volatility as a Route to Indeterminacy,
Guido Cozzi, Cornell University
and Università di Roma "La Sapienza."
- Indeterminacy
and Stabilization Policy in a Two Sector Model
with Externalities,
Jang-Ting Guo, University of California, Riverside,
Sharon Harrison, Barnard College.
- Infinite
Lived Agent Economy with Myopia and Overlapping
Generation,
Stefano M. Lovo, Université
Catholique de Louvain.
Session
G: Monetary
Union
Room:
Nettuno
Chair: Hubert Kempf
- Designing
a Monetary Union: Monetary Rules and Fiscal
Constraints,
Russell Cooper, Boston University, Hubert Kempf,
Université de Paris I.
- Labor
Markets and Monetary Union: a Preliminary Strategic
Analysis,
Alex Cukierman, Tel Aviv University, Francesco
Lippi, Banca di Italia.
- Public
Debt, Default Risk and European Monetary Union,
Silvia Valli, Ente per gli
Studi Monetari Bancari e Finanziari "Luigi Einaudi"
and University of Warwick.
- Welfare
Reform, Unemployment, and Growth in Europe,
Francesco Daveri, Università
di Parma and IGIER, Marco Maffezzoli, Università
Bocconi.
Monday
1
Session
A: Theory
of the Firm
Room:
Foradada
Chair: Luigi Zingales
- A
Theory of Supervision with Endogenous Transaction
Costs,
A. Faure-Grimaud, London School of Economics,
J.J. Laffont and D. Martimort, Université de
Toulouse.
- The
Firm as a Dedicated Hierarchy: A Theory of the
Origins and Growth of Firms,
R. Rajan and Luigi Zingales, University
of Chicago.
- Endogenous
Spillovers, Increased Competition and Reorganization
Waves,
Diego Rodriguez-Palenzuela,
Universitat Pompeu Fabra.
- Competition
and Reputation,
Ramon Marimon, European University Institute
and Universitat Pompeu Fabra, Juan Pablo Nicolini,
Universidad Torcuato di Tella and Universitat
Pompeu Fabra, Pedro Teles, Banco de Portugal
and Universidade Católica Portuguesa.
Session
B: Political
Economics
Room:
Anghelu Ruju
Chair: Guido Tabellini
- Privatisation,
Politics and Institutions: A Cross Country Analysis,
Bernardo Bortolotti, Università di Torino
and Fondazione eni Enrico Mattei, Domenico Siniscalco,
Università di Torino and Fondazione eni Enrico
Mattei.
- Suboptimal
Rules Rather than Discretion in Representative
Democracies,
V.V. Chari, University of Minnesota, Larry
Jones, Northwestern University, Ramon Marimon,
European University Institute and Universitat
Pompeu Fabra.
- Electoral
Competition and Political Rents,
Michele Polo, Università Bocconi.
- Inequality,
Inflation and Central Bank Independence,
Jim Dolmas, Southern Methodist
University, Gregory W. Huffman, Southern Methodist
University and Federal Reserve Bank of Dallas,
Mark A. Wynne, Federal Reserve Bank of Dallas.
Session
C: Applications
in Structural Estimation of Multi-Agent Models
Room:
Cabirol
Chair: Kenneth Wolpin
- The
Minimum Wage and Labor Market Outcomes: Theory
and Evidence,
Christopher Flinn, New York
University.
- The
Effect of Statistical Discrimination on Black-White
Wage Differentials: Estimating a Model with
Multiple Equilibria,
Andrea Moro, University of
Minnesota.
- Estimating
a Bargaining Model with Asymmetric Information:
Evidence from Medical Malpractice Disputes,
Holger Sieg, Duke University.
- Multiple
Equilibria and Minimum Wages in Labor Markets
with Informational Frictions and Heterogeneous
Production Technologies,
Gerard van den Berg, Free University
Amsterdam.
Session
D: Labor
Market Search
Room:
Calik
Chair: Randall Wright
- Equilibrium
Search Models with Firm-Specific Capital: Theory
and Estimation,
Kenneth Burdett, Essex University, Michael S.
Nielsen, University of Aarhus.
- The
Dynamics of Informal Employment,
Jane Ihrig, University of Virginia, Karine
Moe, Macalester College.
- A
Matching Model of Endogenous Skill Requirements
with On-the-Job Search,
James Albrecht, Georgetown
University, Susan Vroman, Georgetown University.
- Efficiency
and Labor-Market Search in a Dynamic General
Equilibrium Model,
Arnaud Cheron, Université de
Paris I.
Session
E: Capacity
Utilization
Room:
Dragunara
Chair: Pamela Labadie
- Capital
Utilization: A (Another?) Fully Worked-Out General
Equilibrium Model,
Martial Dupaigne, Université
de Cergy-Pontoise and CREST.
- Agency
Costs, Capital Utilization and the Real Business
Cycle,
Pamela Labadie, George Washington
University.
- Time-to-Build
and Capacity Choice,
Avner Bar-Ilan, University
of Haifa, Agnès Sulem, INRIA , Alessandro Zanello,
International Monetary Fund.
- Inventories
and Capacity Utilization in a Real Business
Cycle Model
Carlo A. Favero and Marco Maffezzoli,
Università Bocconi.
Session
F: International
Trade and Factor Movements
Room:
Baratz
Chair: Graziella Bertocchi
- Labor
Market Institutions, International Capital Mobility,
and the Persistence of Underdevelopment,
Graziella Bertocchi, Università
di Modena.
- Altruism
and International Labour Migration,
Alice Mesnard, CREST and Université
de Paris II, Damien Gaumont, Université de Paris
II.
- A
Model of Sequential Trade Bloc Formation,
Jessica D. Tjornhom, University of Minnesota.
Session
G: Social
Security
Room:
Nettuno
Chair: Selo Imrohoroglu
- Social
Security and Myopia,
Ayse Imrohoroglu, Selahattin Imrohoroglu,
Douglas H. Joines, University of Southern California.
- Social
Security and Labor Markets,
Douglas H. Joines,
Ayse Imrohoroglu, Selahattin Imrohoroglu, University
of Southern California.
- A
Macro-Market Alternative to Unemployment Insurance,
Marco Del Negro, ITAM.
- What
Can We Learn About Pension Reform from Generational
Accounts for the UK?
James Banks, Institute for Fiscal Studies and
University College London, Richard Disney,
Institute for Fiscal Studies and University
of Nottingham, Zoe Smith, Institute for Fiscal
Studies.
Monday
2
Session
A:
Fund Management Takeovers
Room:
Baratz
Chair: Francesca Cornelli
- General
Equilibrium Implications of Fund Managers' Compensation
Fees,
Domenico Cuoco, Ron Kaniel, University
of Pennsylvania.
- A
Model of Dynamic Loss Aversion,
Nick Barberis, University of Chicago, Ming
Huang, Stanford University, Jesus Santos,
University of Chicago.
- A
Theory of Takeover Bidding,
Bilge Yilmaz, University of
Pennsylvania.
- Risk
Arbitrage in Takeovers,
Francesca Cornelli, London Business School,
David D. Li, University of Michigan.
Session
B:
Applications in Structural Estimation of Single-Agent
Models
Room:
Anghelu Ruju
Chair: Chris Flinn
- Training
and Occupation Choice of Highly Skilled Immigrants,
Sarit Cohen, Zvi Eckstein, Yoram Weiss,
Tel Aviv University.
- An
Empirical Model of Inventory Investment by Durable
Commodity Intermediaries,
George Hall, John Rust, Yale University.
- The
Effect of Parental Transfers and Borrowing Constraints
on Educational Attainment,
Michael Keane, University of Minnesota, Kenneth
Wolpin, University of Pennsylvania.
- On
the Use of Expectations Data in Estimating Structural
Dynamic Models: An Analysis of Career Choices,
Wilbert van der Klaauw, New
York University.
Session
C:
Economic Growth I
Room:
Anghelu Ruju
Chair: Manuel Santos
- Growth
Under Perfect Competition: Heterogeneous Agents,
Michele Boldrin, Universidad
Carlos III de Madrid, David K. Levine, UCLA.
- Economic
Growth with Physical and Human Capital,
Manuel Santos, University of
Minnesota.
- Malthus
to Solow,
Ed Prescott, University of Minnesota, Gary
Hansen, UCLA.
- Growth
under Habit Formation and Keeping Up with the
Joneses,
Guiseppe Ferraguto, Università Bocconi, Patrizio
Pagano, Banca d'Italia.
Session
D:
Applications of Search Models I
Room:
Foradada
Chair: Randall Wright
- Policy
Analysis in the Search Model of the Islands,
Fernando Alvarez, University of Chicago, Marcelo
Veracierto, Federal Reserve
Bank of Chicago.
- On
the Neutrality for Severance Payments in the
Theory of Search Unemployment,
Pietro Garibaldi, International Monetary
Fund, Giovanni Violante, University College
London.
- Taking
Another Look at the Diamond Search Model: Asymmetrical
Cycles and Fluctuations,
Masanao Aoki, UCLA.
Session
E:
Political Economy of Taxation
Room:
Calik
Chair: Marco Bassetto
- A
Coalition Theory of Social Security,
Vincenzo Galasso, Universidad
Carlos III de Madrid, Jose Ignacio Conde Ruiz,
Universitat Autònoma de Barcelona.
- Why
Non-Social-Security Taxes are Important for
Assessing Social Security Reforms,
Monika Bütler, Tilburg University.
- Political
Economy of Taxation in an Overlapping-Generations
Economy,
Marco Bassetto, Northwestern
University.
- Voting
on Unemployment Insurance Generosity: Different
Voters, Different Votes,
Stephane Pallage and Christian Zimmermann,
Université du Québec à Montréal.
Session
F:
Deviations from the Law of One Price
Room:
Cabirol
Chair: Caroline Betts
- Tradability
for Goods and Real Exchange Rate Fluctuations,
Caroline M. Betts, University
of Southern California, Timothy J. Kehoe, University
of Minnesota.
- What
Can We Learn from Deviations from the Law of
One Price?
Mario J. Crucini, Ohio State University, Chris
I. Telmer, Carnegie-Mellon University,
Marios Zachariadis.
- Fixed
Versus Floating Exchange Rate,
Michael Devereux, University
of British Columbia and Hong Kong University
of Science and Technology, Charles Engel, University
of Washington.
- Consumer
Search and International Deviations from the
Law of One Price,
George A. Alessandria, University
of Pennsylvania.
Session
G:
Monetary Policy III
Room:
Dragunara
Chair: Pablo Andres Neumeyer
- Should
Honest Governments Sell Futures?
Pablo Andres Neumeyer, Universidad
Torcuato di Tella and New York University, Fernando
Alvarez, University of Chicago and Universidad
Torcuato di Tella.
- On
the Optimality for Activist Policies with a
Less Informed Government,
Jean-Pascal Benassy, CEPREMAP.
- Nominal
Debt as a Burden to Monetary Policy,
Giorgia Giovannetti, Università
di Firenze and European University Institute,
Ramon Marimon, European University Institute
and Universitat Pompeu Fabra, Pedro Teles, Banco
de Portugal and Universidade Católica Portuguesa.
- Global
Price Stability with Adaptive Agents and Fiscal
Constraints,
Gian Italo Bischi, Università di Urbino,
Ramon Marimon, European University Institute
and Universitat Pompeu Fabra.
Monday
3
Session
A:
Macroeconomics
Room:
Nettuno
Chair: Ellen McGrattan
- The
Macroeconomic Effects of Big Fiscal Shocks:
The Case of World War II,
Ellen McGrattan, Federal Reserve
Bank of Minneapolis, Lee Ohanian, University
of Minnesota.
- The
IT Revolution and Stock Prices,
Jeremy Greenwood, University of Rochester,
Boyan Jovanovic, New York University.
- Aggregate
Car Purchases: a Dynamic Discrete Choice Explanation,
Jerome Adda, University College London,
Russell Cooper, Boston University.
- The
Replacement of Durable Goods: an Application
to Car Scrappage Schemes,
Omar Licandro, FEDEA, Antonio Sampayo,
Universidad de Santiago.
Session
B: Search and
Matching Theory
Room:
Cabirol
Chair: Kenneth Burdett
- The
Economics of `New Blood': Vintage Human Capital,
Involuntary Unemployment and Endogenous Wage
Structures,
Derek Laing, Penn State University, Theodore
Palivos, Louisiana State University, Ping Wang,
Vanderbilt University.
- Policy
Analysis of Aggregate Demand Management in Search-Based
Models,
Yiting Li, Tsing Hua University, Randall Wright,
University of Pennsylvania.
-
Heterogeneity as a Coordination Mechanism,
Melvyn Coles, Essex University, Jan Eeckhout,
Universitat Pompeu Fabra.
Session
C:
Political Economy of Education
Room:
Anghelu Ruju
Chair: Elisabeth Caucutt
- The
Political Economy of Means-Tested Education
Vouchers,
Peter Bearse, University of
North Carolina at Greensboro, Gerhard Glomm,
Michigan State University, B. Ravikumar, University
of Iowa.
- Higher
Education Subsidies and Heterogeneity,
Elisabeth Caucutt, University of Rochester,
Krishna Kumar, University of
Southern California.
- Beyond
Serrano vs. Priest: National Funding of Education,
Jorge Soares, George Washington
University.
- Evaluating
the Long-Run Effectiveness of Poverty Policy:
A General-Equilibrium Approach,
John Knowles, University of
Pennsylvania.
Session
D:
Empirical Health Economics
Room:
Dragunara
Chair: Chris Flinn
- Cigarette
Consumption over the Life-Cycle: Quantifying
Health and Price Effects,
Jerome Adda and Valerie Lechene,
University College London.
- Estimating
Hospital Quality Using a Bayesian Selection
Model,
John Geweke and Gautam Gowrisankaran,
University of Minnesota, Robert Town, University
of California, Irvine.
- Parental
Investments in the Mental Health of Children,
Morris Davis, Federal Reserve
Board, Michael Foster, Georgia State University.
Session
E:
Experimentation and Learning
Room:
Baratz
Chair: Marcelle Chauvet
- Market
Structure and Experimentation,
Matteo Bugamelli, Banca d'Italia and
Columbia University, Paolo De Santis, McKinsey
& Company.
- Learning
Premia,
Marcelle Chauvet, University
of California, Riverside, Simon Potter, Federal
Reserve Bank of New York.
- Strategic
Experimentation and Disruptive Technological
Change,
Fabiano Schivardi, Banca d'Italia,
Martin Schneider, Stanford University.
- Strategic
Investment in Technological Innovations,
Kuno Huisman and Peter Kort,
Tilburg University.
Session
F:
Dynamic Contracts
Room:
Calik
Chair: Beth Allen
- Quantitative
Asset Pricing Implications of Endogenous Solvency
Constraints,
Fernando Alvarez, University of Chicago and
Universidad Torcuato Di Tella, Urban J. Jermann,
University of Pennsylvania.
- Endogenous
Risk, Incentives and Aggregate Fluctuations,
Adriano A. Rampini, Northwestern
University.
- On
the Timing of Transactions,
Beth Allen, University of
Minnesota.
Session
F:
Growth and Business Cycles
Room:
Foradada
Chair: Omar Licandro
- Endogenous
vs. Exogenously Driven Fluctuations in Vintage
Capital Models,
Raouf Boucekkine, Université Catholique de Louvain,
Fernando del Rio, CEPREMAP, Omar Licandro,
FEDEA.
- Linkages
between Growth and Business Cycles,
Keith Blackburn, University of Manchester,
Alessandra Pelloni, Università
di Sassari.
- A
Multi-Technique Model of Capital Accumulation
and Growth,
Juan Carlos Cordoba, University
of Rochester.
- On
Output Dynamics and Shock Propagation in Real
Business Cycle Models with Endogenous Growth,
Bernd Lucke, Universität Hamburg.
Tuesday
1
Session
A:
Housing
Room:
Anghelu Ruju
Chair: François Ortalo-Magne
- Loss
Aversion and Seller Behavior: Evidence From
the
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