NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

 

SUMMER INSTITUTE 2007

 

Monetary Economics Workshop

 

Christina Romer and David Romer, Organizers

 

Royal Sonesta Hotel

Charles A Room

40 Edwin H. Land Boulevard

Cambridge, Massachusetts

 

July 9 - 13, 2007

 

PROGRAM

 

MONDAY, JULY 9:

 

 

12:00 n

Lunch

 

 

 1:00 pm

OLIVIER BLANCHARD, MIT and NBER

 

JORDI GALÍ, Universitat Pompeu Fabra and NBER

 

The Macroeconomic Effects of Oil Price Shocks:  Why are the 2000s So Different from the 1970s?

 

 

 1:55 pm

Michele Cavallo, Federal Reserve Bank of San Francisco

 

TAO WU, Federal Reserve Bank of Dallas

 

Measuring Oil-Price Shocks Using Market-Based Information

 

 

 2:50 pm

Break

 

 

 3:05 pm

LUCA BENATI, European Central Bank

 

PAOLO SURICO, Bank of England

 

VAR Analysis and the Great Moderation

 

 

 4:00 pm

Adjourn

 

 

TUESDAY, JULY 10:

 

 

12:00 n

Lunch

 

 

 1:00 pm

Discussion with BEN S. BERNANKE, Chairman, Board of Governors of the Federal Reserve System

 

 

 2:30 pm

Break

 

 

 3:00 pm

KENNETH KUTTNER, Oberlin College and NBER

 

ADAM POSEN, Peterson Institute for International Economics

 

Do Markets Care Who Chairs the Central Bank?

 

 

 3:55 pm

Adjourn

 

 

WEDNESDAY, JULY 11:

 

 

12:00 n

Lunch

 

 

 1:00 pm

MARK ZBARACKI, University of Pennsylvania

 

MARK BERGEN, University of Minnesota

 

DANIEL LEVY, Bar-Ilan University

 

The Anatomy of a Price Cut:  Discovering Organizational Sources of the Costs of Price Adjustment

 

 

 1:55 pm

CHRISTIAN BRODA, University of Chicago and NBER

 

DAVID WEINSTEIN, Columbia University and NBER

 

Product Creation and Destruction:  Evidence and Price Implications

 

 

 2:50 pm

Break

 

 

 3:05 pm

Discussion of Recent Developments in the Conduct of Monetary Policy

 

in Scandinavia

 

LARS E. O. SVENSSON, Princeton University, and NBER

 

KNUT ANTON MORK, Handelsbanken Capital Markets

 

FRANCESCO GIAVAZZI, Università Bocconi and NBER

 

 

 

Report on Sweden, Report on Norway

 

 

 4:15 pm

Adjourn

 

 

 6:00 pm

Clambake, Harvard Faculty Club, 20 Quincy Street, Cambridge, MA

 

 

THURSDAY, JULY 12:

 

 

12:00 n

Lunch

 

 

 1:00 pm

SIMON GILCHRIST, Boston University and NBER

 

EGON ZAKRAJSEK, Federal Reserve Board

 

Investment and the Cost of Capital: New Evidence from the Corporate Bond Market

 

 

 1:55 pm

THOMAS PHILIPPON, New York University and NBER

 

The Y-Theory of Investment

 

 

 2:50 pm

Break

 

 

 3:05 pm

PETER KLENOW, Stanford University and NBER

 

JONATHAN WILLIS, Federal Reserve Bank of Kansas City

 

Sticky Information and Sticky Prices

 

 

 4:00 pm

Adjourn

 

 

FRIDAY, JULY 13:

 

 

12:00 n

Lunch

 

 

 1:00 pm

YURIY GORODNICHENKO, UC, Berkeley

 

Endogenous Information, Menu Costs and Inflation Persistence

 

 

 1:55 pm

ROBERT HALL, Stanford University and NBER

 

Equilibrium Sticky Prices

 

 

 2:50 pm

Break

 

 

 3:05 pm

RICARDO REIS and MARK WATSON, Princeton University and NBER

 

Measuring Changes in the Value of the Numeraire

 

 

 4:00 pm

Adjourn

 

 

 

 

 

 

5/9/07