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<o:shapedefaults v:ext="edit" spidmax="1026"/> </xml><![endif]--><!--[if gte mso 9]><xml> <o:shapelayout v:ext="edit"> <o:idmap v:ext="edit" data="1"/> </o:shapelayout></xml><![endif]--> </head> <body lang=EN-US link=blue vlink=purple style='tab-interval:.5in'> <div class=WordSection1> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=625 style='width:468.75pt;mso-cellspacing:0in;mso-yfti-tbllook:1184;mso-padding-alt: 0in 5.4pt 0in 5.4pt'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Authors, please upload your paper <a href="http://www.nber.org/confsubmit/backend/form?id=si14me">here</a>. <br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:0in;margin-bottom:.0001pt; text-align:center;line-height:normal'><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>NATIONAL BUREAU OF ECONOMIC RESEARCH, INC. <br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:0in;margin-bottom:.0001pt; text-align:center;line-height:normal'><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>SI 2014 Monetary Economics Workshop <br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:0in;margin-bottom:.0001pt; text-align:center;line-height:normal'><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>Christina D. <span class=SpellE>Romer</span> and David H. <span class=SpellE>Romer</span>, Organizers <br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:0in;margin-bottom:.0001pt; text-align:center;line-height:normal'><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>July 7-11, 2014 <br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:5'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:0in;margin-bottom:.0001pt; text-align:center;line-height:normal'><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>Charles Suite<o:p></o:p></span></p> <p class=MsoNormal align=center style='margin-bottom:0in;margin-bottom:.0001pt; text-align:center;line-height:normal'><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>Royal Sonesta Hotel<br> 40 Edwin H. Land Blvd<br> Cambridge, MA<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:6;mso-yfti-lastrow:yes'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:0in;margin-bottom:.0001pt; text-align:center;line-height:normal;mso-outline-level:2'><b><u><span style='font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>PROGRAM</span></u></b><span style='font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 style='mso-cellspacing:1.5pt; mso-yfti-tbllook:1184;mso-padding-alt:0in 5.4pt 0in 5.4pt'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=626 colspan=2 valign=top style='width:469.5pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><b style='mso-bidi-font-weight:normal'><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>Monday, July 7<o:p></o:p></span></b></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:2'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>12:00 n<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Lunch<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:4'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>1:00 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Johannes F. Wieland, University of California at San Diego<br> Mu-<span class=SpellE>Jeung</span> Yang, University of Washington<br> </span><span style='font-family:"Arial","sans-serif"'><a href="http://www.nber.org/confer/2014/SI2014/ME/Wieland_Yang.pdf"><i>Financial Dampening </i></a></span><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:5'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:6'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>1:55 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Break<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:7'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:8'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>2:05 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span class=SpellE><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>Haelim</span></span><span style='font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'> M. Park, Department of the Treasury<br> Patrick Van Horn, Southwestern University<br> </span><span style='font-family:"Arial","sans-serif"'><a href="http://www.nber.org/confer/2014/SI2014/ME/Park_Van_Horn.pdf"><i>Did the Reserve Requirement Increases of 1936-1937 Reduce Bank Lending? Evidence from a Natural Experiment </i></a></span><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:9'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:10'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>3:00 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Break<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:11'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:12'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>3:10 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Stephen Eliot. Hansen, <span class=SpellE>Universitat</span> <span class=SpellE>Pompeu</span> <span class=SpellE>Fabra</span><br> Michael McMahon, University of Warwick<br> Andrea <span class=SpellE>Prat</span>, Columbia University<br> </span><span style='font-family:"Arial","sans-serif"'><a href="http://www.nber.org/confer/2014/SI2014/ME/Hansen_McMahon_Prat.pdf"><i>Transparency and Deliberation within the FOMC: a Computational Linguistics Approach </i></a></span><span style='font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:13'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:14'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>4:05 pm <o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Adjourn<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:15'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:16'> <td width=626 colspan=2 valign=top style='width:469.5pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><b style='mso-bidi-font-weight:normal'><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>Tuesday, July 8:<o:p></o:p></span></b></p> </td> </tr> <tr style='mso-yfti-irow:17'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:18'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>12:00 n<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Lunch<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:19'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:20'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>1:00 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Matthew Baron, Princeton University<br> Wei <span class=SpellE>Xiong</span>, Princeton University and NBER<br> </span><span style='font-family:"Arial","sans-serif"'><a href="http://www.nber.org/confer/2014/SI2014/ME/Baron_Xiong.pdf"><i>Credit Expansion and Neglected Crash Risk </i></a></span><span style='font-family: "Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:21'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:22'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>1:55 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Break<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:23'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:24'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>2:05 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Marco Di Maggio, Columbia Business School<br> Amir <span class=SpellE>Kermani</span>, University of California at Berkeley<br> </span><span style='font-family:"Arial","sans-serif"'><a href="http://www.nber.org/confer/2014/SI2014/ME/Di_Maggio_Kermani.pdf"><i>Credit-Induced Boom and Bust </i></a></span><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:25'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:26'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>3:00 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Break<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:27'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:28'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>3:10 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Markus <span class=SpellE>Behn</span>, Bonn Graduate School of Economics<br> Rainer <span class=SpellE>Haselmann</span>, Bonn Graduate School of Economics<br> Vikrant <span class=SpellE>Vig</span>, London Business School<br> </span><span style='font-family:"Arial","sans-serif"'><a href="http://www.nber.org/confer/2014/SI2014/ME/Behn_Haselmann_Vig.pdf"><i>The Limits of Model-Based Regulation </i></a></span><span style='font-family: "Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:29'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:30'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>4:05 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Adjourn<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:31'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:32'> <td width=626 colspan=2 valign=top style='width:469.5pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><b style='mso-bidi-font-weight:normal'><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>Wednesday, July 9:<o:p></o:p></span></b></p> </td> </tr> <tr style='mso-yfti-irow:33'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:34'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>12:00 n<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Lunch<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:35'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:36'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>1:00 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Anton <span class=SpellE>Korinek</span>, Johns Hopkins University and NBER<br> Alp <span class=SpellE>Simsek</span>, Massachusetts Institute of Technology and NBER<br> </span><span style='font-family:"Arial","sans-serif"'><a href="http://www.korinek.com/download/LiquidityTrap.pdf"><i>Liquidity Trap and Excessive Leverage </i></a></span><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:37'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:38'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>1:55 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Break <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:39'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:40'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>2:05 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>John H. Cochrane, University of Chicago and NBER<br> </span><span style='font-family:"Arial","sans-serif"'><a href="http://faculty.chicagobooth.edu/john.cochrane/research/papers/zero_bound_2.pdf"><i>The New Keynesian Liquidity Trap </i></a></span><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:41'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:42'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>3:00 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Break<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:43'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:44'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>3:10 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Olivier <span class=SpellE>Coibion</span>, University of Texas, Austin and NBER<br> <span class=SpellE>Yuriy</span> <span class=SpellE>Gorodnichenko</span>, University of California at Berkeley and NBER<br> Marianna <span class=SpellE>Kudlyak</span>, Federal Reserve Bank of Richmond<br> John A. Mondragon, University of California at Berkeley<br> </span><span style='font-family:"Arial","sans-serif"'><a href="http://www.nber.org/confer/2014/SI2014/ME/Coibion_Gorodnichenko_Kudlyak_Mondragon.pdf"><i>Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data </i></a></span><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:45'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:46'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>4:05 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Adjourn<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:47'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:48'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>6:00 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";color:black'>Clambake, Royal <span class=SpellE>Sonesta</span> Hotel, 40 Edwin H. Land Boulevard, Cambridge, MA</span><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:49'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:50'> <td width=626 colspan=2 valign=top style='width:469.5pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><b style='mso-bidi-font-weight:normal'><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>Thursday, July 10:</span></b><b style='mso-bidi-font-weight:normal'><span style='font-family:"Arial","sans-serif"; color:black'><o:p></o:p></span></b></p> </td> </tr> <tr style='mso-yfti-irow:51'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:52'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>12:00 n<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Lunch<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:53'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:54'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>1:00 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Jing Cynthia Wu, University of Chicago and NBER<br> Fan Dora Xia, UC San Diego<br> </span><span style='font-family:"Arial","sans-serif"'><a href="http://faculty.chicagobooth.edu/jing.wu/research/pdf/WX.pdf"><i>Measuring the Macroeconomic Impact of Monetary Policy at the Zero Lower Bound </i></a></span><span style='font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:55'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:56'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>1:55 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Break<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:57'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:58'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>2:05 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Tao Wu, International Monetary Fund<br> </span><span style='font-family:"Arial","sans-serif"'><a href="http://www.nber.org/confer/2014/SI2014/ME/Wu.pdf"><i>Unconventional Monetary Policy and Long-Term Interest Rates </i></a></span><span style='font-family: "Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:59'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:60'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>3:00 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Break<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:61'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:62'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>3:10 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p style='margin:0in;margin-bottom:.0001pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";color:black'>Anna <span class=SpellE>Cieslak</span>, Northwestern University</span><span style='font-size:11.0pt;font-family:"Arial","sans-serif"'><br> <span style='color:black'>Adair Morse, University of California at Berkeley and NBER</span><br> <span style='color:black'>Annette <span class=SpellE>Vissing</span>-Jorgensen, University of California at Berkeley and NBER</span><br> <a href="http://www.nber.org/confer/2014/SI2014/ME/Cieslak_Morse_Vissing-Jorgensen.pdf"><i>Stock Returns over the FOMC Cycle </i></a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:63'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:64'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>4:05 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p style='margin:0in;margin-bottom:.0001pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";color:black'>Adjourn<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:65'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:66'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>4:30 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p style='margin:0in;margin-bottom:.0001pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif"'>Feldstein Lecture by Stanley Fischer (Grand Ballroom, West Tower)<span style='color:black'><o:p></o:p></span></span></p> </td> </tr> <tr style='mso-yfti-irow:67'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:68'> <td width=626 colspan=2 valign=top style='width:469.5pt;padding:.75pt .75pt .75pt .75pt'> <p style='margin:0in;margin-bottom:.0001pt'><b style='mso-bidi-font-weight: normal'><span style='font-size:11.0pt;font-family:"Arial","sans-serif"'>Friday, July 11:<span style='color:black'><o:p></o:p></span></span></b></p> </td> </tr> <tr style='mso-yfti-irow:69'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:70'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><b style='mso-bidi-font-weight:normal'><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>Joint meeting with the Macro, Money and Financial Frictions Group</span></b><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><br> </span><span style='font-family:"Arial","sans-serif";color:black'>Andrew <span class=SpellE>Metrick</span>, David <span class=SpellE>Scharfstein</span> Markus <span class=SpellE>Brunnermeier</span>, <span class=SpellE>Arvind</span> Krishnamurthy and Guillermo Ordonez  Organizers<br> <br> </span><span style='font-family:"Arial","sans-serif"'>Hotel Marlowe<br> 25 Edwin H. Land Blvd.<br> Cambridge, MA<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><span style='color:black'><o:p></o:p></span></span></p> </td> </tr> <tr style='mso-yfti-irow:71'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><span style='font-family:"Arial","sans-serif"'>8:00 am<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal'><b style='mso-bidi-font-weight:normal'><span style='font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>Coffee and Pastries<o:p></o:p></span></b></p> </td> </tr> <tr style='mso-yfti-irow:72'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:73'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>8:30 am<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>Samuel Hanson, Harvard University and NBER<br> Andrei <span class=SpellE>Shleifer</span>, Harvard University and NBER<br> Jeremy C. Stein, Federal Reserve Board of Governors<br> Robert W. <span class=SpellE>Vishny</span>, University of Chicago and NBER<br> <a href="http://www.nber.org/confer/2014/SI2014/MEFM/Hanson_Shleifer_Stein_Vishny.pdf"><i>Banks as Patient Fixed Income Investors </i></a><br> <br> Discussant: <span class=SpellE>Bengt</span> <span class=SpellE>Holmstrom</span>, Massachusetts Institute of Technology and NBER<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:74'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:75'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>9:30 am<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>Gabriel <span class=SpellE>Chodorow</span>-Reich, Harvard University and NBER<br> <a href="http://www.nber.org/confer/2014/SI2014/MEFM/Chodorow-Reich.pdf"><i>Effects of Unconventional Monetary Policy on Financial Institutions </i></a><br> <br> Discussant: Anil <span class=SpellE>Kashyap</span>, University of Chicago and NBER<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:76'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:77'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>10:30 am<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>Break<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:78'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:79'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>11:00 am<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>Pietro <span class=SpellE>Bonaldi</span>, University of Chicago<br> Ali <span class=SpellE>Hortacsu</span>, University of Chicago and NBER<br> Jakub <span class=SpellE>Kastl</span>, Stanford University and NBER<br> <a href="http://www.nber.org/confer/2014/SI2014/MEFM/Bonaldi_Hortacsu_Kastl.pdf"><i>An Empirical Analysis of Systemic Risk in the EURO-zone </i></a><br> <br> Discussant: Thomas <span class=SpellE>Philippon</span>, New York University and NBER<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:80'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:81'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>12:00 n<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>Lunch<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:82'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:83'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>1:00 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span class=SpellE><span style='font-family:"Arial","sans-serif"'>Gauti</span></span><span style='font-family:"Arial","sans-serif"'> B. <span class=SpellE>Eggertsson</span>, Brown University and NBER<br> Neil <span class=SpellE>Mehrotra</span>, Brown University<br> <a href="http://www.nber.org/confer/2014/SI2014/MEFM/Eggertsson.pdf"><i>A Model of Secular Stagnation </i></a><br> <br> <span class=SpellE>Discussant:Olivier</span> J. Blanchard, International Monetary Fund and NBER<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:84'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:85'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>2:00 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>Break<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:86'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:87'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>2:30 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>Alberto Martin, CREI<br> <span class=SpellE>Jaume</span> Ventura, CREI and <span class=SpellE>Universitat</span> <span class=SpellE>Pompeu</span> <span class=SpellE>Fabra</span> and NBER<br> <a href="http://www.crei.cat/people/martin/macrebu.pdf"><i>Managing Credit Bubbles </i></a><br> <br> Discussant: Jennifer <span class=SpellE>La'O</span>, Columbia University and NBER<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:88'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:89'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>3:30 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>Luigi <span class=SpellE>Bocola</span>, University of Pennsylvania<br> <a href="http://www.nber.org/confer/2014/SI2014/MEFM/Bocola.pdf"><i>The Pass-Through of Sovereign Risk </i></a><br> <br> <span class=SpellE>Discussant:Martin</span> Schneider, Stanford University and NBER<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:90'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'></td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'></td> </tr> <tr style='mso-yfti-irow:91;mso-yfti-lastrow:yes'> <td width=96 valign=top style='width:1.0in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>4:30 pm<o:p></o:p></span></p> </td> <td width=528 style='width:5.5in;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;tab-stops:1.0in'><span style='font-family:"Arial","sans-serif"'>Adjourn<o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-family:"Arial","sans-serif"'><br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></p> </div> </body> </html>