NATIONAL BUREAU OF ECONOMIC RESEARCH

Eighteenth Annual Conference on Macroeconomics

Mark Gertler and Kenneth Rogoff, Organizers

April 4-5, 2003

The Royal Sonesta Hotel

5 Cambridge Parkway

Cambridge, MA

PROGRAM

FRIDAY APRIL 4:

8:30 AM Continental Breakfast

9:00 AM SUSANTO BASU, University of Michigan and NBER

JOHN FERNALD, Federal Reserve Bank of Chicago

NICK OULTON and SYLAJA SRINIVASAN, Bank of England

The Case of Missing Productivity Growth: Or: Why Has Productivity Accelerated

in the United States but not the United Kingdom

Discussants: OLIVIER BLANCHARD, MIT and NBER

GIANLUCA VIOLANTE, New York University

10:30 AM Break

10:45 AM DIRK KRUEGER, Stanford University and NBER

FABRIZIO PERRI, New York University and NBER

On the Welfare Consequences of the Increase in Inequality in the United States

Discussants, STEVE DAVIS, University of Chicago and NBER

KJETIL STORESLETTEN, Institute for International Economics

12:15 PM Lunch

1:45 PM ANNETTE VISSING JORGENSEN, Northwestern University and NBER

Perspectives on Behavioral Finance: Does Irrationality Disappear

with Wealth? Evidence from Expectations and Actions

Discussants, JOHN CAMPBELL, Harvard University and NBER

OWEN LAMONT, University of Chicago and NBER

3:15 PM Break

3:30 PM N. GREGORY MANKIW, Harvard University and NBER

RICARDO REIS, Harvard University

JUSTIN WOLFERS, Stanford University

Disagreement About Inflation Expectations

Discussants, ROBERT KING, Boston University and NBER

JOHN WILLIAMS, Federal Reserve Bank of San Francisco

5:00 PM Adjourn

6:00 PM Group Dinner

Royal Sonesta Hotel

SATURDAY, APRIL 5:

8:30 AM Continental Breakfast

9:00 AM PIERPAOLO BENIGNO, New York University

MICHAEL WOODFORD, Princeton University and NBER

Optimal Monetary and Fiscal Policy: A Linear-Quadratic Approach

Discussants: STEFANIA ALBANESI, Bocconi University

MARIOS ANGELETOS, MIT and NBER

10:30 AM Break

11:00 AM ARMINIO FRAGA, ILAN GOLDFAJN and ANDRE MINELLA, Central Bank of Brazil

Inflation Targeting in Emerging Market Economies

Discussants: FREDERIC MISHKIN, Columbia University and NBER

ROBERT HALL, Stanford University and NBER

12:30 PM Adjourn

2/20/03