NATIONAL BUREAU OF ECONOMIC RESEARCH, INC

MONETARY ECONOMICS PROGRAM MEETING

Susanto Basu and Michael Woodford, Organizers

April 11, 2003

3^rd Floor Conference Room

1050 Massachusetts Avenue

Cambridge, Massachusetts

PROGRAM

THURSDAY, APRIL 10:

7:00 PM Dinner

Sandrine's Restaurant

8 Holyoke Street

Cambridge, MA

FRIDAY, APRIL 11:

8:15 AM Shuttle Van Departs Royal Sonesta Hotel for 1050 Mass. Avenue.

8:30 AM Shuttle Van Departs Royal Sonesta Hotel for 1050 Mass. Avenue.

8:30 AM Continental Breakfast

9:00 AM PAUL BEAUDRY, University of British Columbia and NBER

FRANCK PORTIER, University of Toulouse

Stock Prices, News and Economic Fluctuations

Discussant: JULIO ROTEMBERG, Harvard University and NBER

10:00 AM Break

10:15 AM CHRISTINA D. ROMER, UC, Berkeley and NBER

DAVID H. ROMER, UC, Berkeley and NBER

A New Measure of Monetary Shocks:

Derivation and Implications

Discussant: JEFFREY FUHRER, Federal Reserve Bank of Boston

11:15 AM ANDREAS BEYER, European Central Bank

ROGER E.A. FARMER, UC, Los Angeles

Identifying the Monetary Transmission Mechanism using Structural Breaks

Discussant: MARK WATSON, Princeton University and NBER

12:15 PM Lunch

Over, Please!

Monetary Economics Program, Page 2:

1:15 PM THOMAS SARGENT, New York University and NBER

NOAH WILLIAMS, Princeton University and NBER

Impacts of Priors on Convergence and Escapes from Nash Inflation

Discussant: TAO ZHA, Federal Reserve Bank of Atlanta

2:15 PM Break

2:30 PM SYLVAIN LEDUC, KEITH SILL, and

TOM STARK, Federal Reserve Bank of Philadelphia

Self-Fulfilling Expectations and the Inflation of the 1970's:

Evidence from the Livingston Survey

Discussant: ATHANASIOS ORPHANIDES, Federal Reserve Board

3:30 PM Break

3:45 PM MICHELLE ALEXOPOULOS, University of Toronto

A Monetary Business Cycle Model with Unemployment

Discussant: GAREY RAMEY, UC, San Diego

Adjourn

4/9/03