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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

 

SUMMER INSTITUTE 2011

 

Monetary Economics Workshop

 

July 11 - 15, 2011

 

Christina D. Romer and David H. Romer, Organizers

 

Royal Sonesta Hotel

Charles Suite A

40 Edwin H. Land Boulevard

Cambridge, Massachusetts

 

PROGRAM

 

Monday, July 11:

 

12:00 n

Lunch

 

 

1:00 pm

Emi Nakamura, Columbia University and NBER

 

Jón Steinsson, Columbia University and NBER

 

Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions

 

 

1:55 pm

Price Fishback, University of Arizona and NBER
Valentina Kachanovskaya, University of Arizona

 

In Search of the Multiplier for Federal Spending in the States during the New Deal

 

 

2:50 pm

Break

 

 

3:05 pm

Olivier Coibion, College of William and Mary and NBER
Yuriy Gorodnichenko, University of California at Berkeley and NBER

 

Information Rigidity and the Expectations Formation Process: A Simple Framework and New Facts

 

 

4:00 pm

Adjourn

 

 

Tuesday, July 12:

 

 

12:00 n

Lunch

 

 

1:00 pm

Ruediger Bachmann, University of Michigan and NBER
Eric Sims, University of Notre Dame and NBER

 

Confidence and the Transmission of Government Spending Shocks

 

 

1:55 pm

N. Gregory Mankiw, Harvard University and NBER
Matthew Weinzierl, Harvard University and NBER

 

An Exploration of Optimal Stabilization Policy

 

 

2:50 pm

Break

 

 

3:05 pm

Atif Mian, University of California at Berkeley and NBER
Joao Santos, Federal Reserve Bank of New York

 

Liquidity Risk and Maturity Management over the Credit Cycle

 

 

4:00 pm

Adjourn

 

 

Wednesday, July 13:  Meeting this day in Parkview Room

 

12:00 n

Lunch

 

 

1:00 pm

Discussion with Axel Weber, former president, Deutsche Bundesbank

 

 

2:30 pm

Break

 

 

3:00 pm

Gauti Eggertsson, Federal Reserve Bank of New York

 

Paul Krugman, Princeton University and NBER

 

Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach

 

 

3:55 pm

Adjourn

 

 

6:00 pm

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

 

 

Thursday, July 14:

12:00 n

Lunch

 

 

1:00 pm

Arvind Krishnamurthy, Northwestern University and NBER
Stefan Nagel, Stanford University and NBER

Dmitry Orlov, Stanford University

 

Sizing Up Repo

 

 

1:55 pm

Bo Becker, Harvard University and NBER
Victoria Ivashina
, Harvard University and NBER

 

Cyclicality of Credit Supply: Firm Level Evidence

 

 

2:50 pm

Break

 

 

3:05 pm

Burcu Duygan-Bump, Federal Reserve Bank of Boston
Alexey Levkov, Federal Reserve Bank of Boston
Judit Montoriol-Garriga, Federal Reserve Bank of Boston

 

Financing Constraints and Unemployment: Evidence from the Great Recession

 

 

4:00 pm

Adjourn

 

 

Friday, July 15:

 

JOINT MEETING WITH SESSION ON FINANCE AND MACROECONOMICS

Andrew Metrick, Jeremy C. Stein, and David Scharfstein, Organizers

  

 

PROGRAM

 

 

 

 8:00 am

Coffee and Pastries

 

 

 

 8:30 am

Nicola Gennaioli, CREI

 

Andrei Shleifer, Harvard University and NBER

 

Robert W. Vishny, University of Chicago and NBER

 

A Model of Shadow Banking

 

 

 

Discussant: Guillermo Ordonez, Yale University

 

 

 

 9:20 am

Javier Bianchi, University of Maryland

 

Enrique G. Mendoza, University of Maryland and NBER

 

Overborrowing, Financial Crises, and Macro-prudential Policy

 

 

 

Discussant: Martin Oehmke, Columbia University

 

 

 

 10:10 am

Break

 

 

 

 10:30 am

Michael Woodford, Columbia University and NBER

 

Monetary Policy and Financial Stability

 

 

 

Discussant: Emmanuel Farhi, Harvard University and NBER

 

 

 

 11:20 am

Atif Mian, University of California at Berkeley and NBER

 

Amir Sufi, University of Chicago and NBER

 

Francesco Trebbi, University of British Columbia and NBER

 

Foreclosures, House Prices and the Real Economy

 

 

 

 

Discussant: Parag Pathak, Massachusetts Institute of Technology and NBER

 

 

 

 12:10 pm

Lunch

 

 1:10 pm

PANEL DISCUSSION: Macro-Prudential Regulation: The State of Play

 

 

 

Panelists

 

Stephen Cecchetti, Bank for International Settlements and NBER

 

 

Paul Tucker, Bank of England

 

 

Nellie Liang, Federal Reserve Board

 

  

 

 

Moderator

 

 

Anil Kashyap, University of Chicago and NBER

 

 2:30 pm

Break

 

 

 

 2:50 pm

Arvind Krishnamurthy, Northwestern University and NBER

 

Annette Vissing-Jorgensen, Northwestern University and NBER

 

The Effects of Quantitative Easing on Interest Rates

 

 

 

Discussant: Robin Greenwood, Harvard University

 

 

 

 3:40 pm

Viral V. Acharya, New York University and NBER

 

Itamar Drechsler, New York University

 

Philipp Schnabl, New York University

 

A Pyrrhic Victory? -- Bank Bailouts and Sovereign Credit Risk

 

 

 

Discussant: Stijn Claessens, International Monetary Fund

 

 

 

 4:30 pm

Adjourn