NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SUMMER INSTITUTE 2008

Impulse and Propagation Mechanisms

Lawrence Christiano and Martin Eichenbaum, Organizers

Royal Sonesta Hotel

40 Edwin H. Land Blvd.

Charles A

Cambridge, MA

July 7 – July 11, 2008

PROGRAM

MONDAY, JULY 7:
8:30 am	Coffee and Pastries
9:00 am	JESS BENHABIB, New York University and NBER
	Age, Luck and Inheritance
	(Joint with Shenghao Zhu, New York University)
10:00 am	Break
10:15 am	LAWRENCE CHRISTIANO, Northwestern University and NBER
	Signal shocks in Business Cycles, and implications for monetary policy
	(Joint with Cosmin Ilut, Northwestern University, Roberto Motto, ECB, and Massimo Rostagno, ECB)
11:15 am	Break
11:30 am	MARK WRIGHT, UC, Los Angeles
	Recovery Before Redemption? A Theory of Delays in Sovereign Debt Renegotiations
	(Joint with David Benjamin, University of Southampton)
12:30 pm	Lunch and Adjourn
TUESDAY, JULY 8:
8:30 am	Coffee and Pastries
9:00 am	CHARLES ENGEL, University of Wisconsin and NBER
	International Trade in Durable Goods: Understanding Volatility, Cyclicality and Elasticities
	(Joint with Jian Wang, Federal Reserve Bank of Dallas)
10:00 am	Break
10:15 am	XAVIER GABAIX, New York University and NBER
	Rare Disasters and Exchange Rates
	(Joint with Emmanuel Fahri, Harvard University)
11:15 am	Break
11:30 am	ERIC SWANSON, Federal Reserve Bank of San Francisco
	Optimal Time-Consistent Monetary Policy in the New Keynesian Model with Repeated Simultaneous Play
	(Joint with Gauti Eggertsson, Federal Reserve Bank of New York)
12:30 pm	Lunch and Adjourn
WEDNESDAY, JULY 9:
8:30 am	Coffee and Pastries
9:00 am	MICHAEL WOODFORD, Columbia University and NBER
	Information-Constrained State-Dependent Pricing
10:00 am	Break
10:15 am	RHYS MENDES, Bank of Canada
	Information, Expectations and the Business Cycle
11:15 am	Break
11:30 am	MIRKO WIEDERHOLT, Northwestern University
	Bartosz Maækowiak, European Central Bank
	Business Cycle Dynamics under Rational Inattention
12:30 pm	Lunch and Adjourn
6:00 pm	Clambake, Harvard Faculty Club, 20 Quincy Street, Cambridge, MA
THURSDAY, JULY 10:
8:30 am	Coffee and Pastries
9:00 am	MARK GERLER, New York University and NBER
	Future Technology, Endogenous Diffusion, Economic Fluctuations and the Stock Market
	(Joint with Diego Comin, Harvard University and NBER
	and Maria Santacreu, New York University)
10:00 am	Break
10:15 am	GUIDO LORENZONI, MIT and NBER
	Noise and Fluctuations
	(Joint with Olivier Blanchard, MIT and NBER
	and Jean-Paul L'Huillier, MIT)
11:15 am	Break
11:30 am	JORDI GALI, CREI and NBER
	Changing Labor Market Dynamics: Evidence and Implications
	(Joint with Thijs Van Rens, CREI)
12:30 pm	Adjourn and lunch
FRIDAY, JULY 11:
8:30 am	Coffee and Pastries
9:00 am	ANDREW LEVIN, Federal Reserve Board
	The Micro Foundations of Price-Setting Behavior
	(Joint with Tack Yun, Federal Reserve Board)
10:00 am	Break
10:15 am	V.V. CHARI, University of Minnesota and NBER
	Sophisticated Monetary Policies
	(Joint with Andy Atkeson, UC, Los Angeles and NBER
	and Patrick Kehoe, University of Minnesota and NBER)
11:15 am	Break
11:30 am	THIJS VAN RENS, CREI
	Cyclical Skill-Biased Technological Change
	(Joint with Almut Balleer, University of Bonn)
12:30 pm	Lunch and Adjourn
5/19/08