NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.



Economic Fluctuations and Growth Research Meeting

Mark Bils and Matthew Shapiro, Organizers



July 17, 2004



Royal Sonesta Hotel

5 Cambridge Parkway

Cambridge, Massachusetts



PROGRAM

FRIDAY, JULY 16:



6:30 PM Reception and Dinner

Royal Sonesta Hotel





SATURDAY, JULY 17:



8:30 AM Continental Breakfast



9:00 AM DAVID JOHNSON, Bureau of Labor Statistics

JONATHAN PARKER, Princeton University and NBER

NICHOLAS SOULELES, University of Pennsylvania and NBER

Household Expenditure and the Income Tax Rebates of 2001



Discussant: NICOLA FUCHS-SCHUNDELN, Yale University



10:00 AM Coffee Break



10:30 AM MARCO BATTAGLINI, Princeton University

STEPHEN COATE, Yale University and NBER

Pareto Efficient Income Taxation with Stochastic Abilities



Discussant: NARAYANA KOCHERLAKOTA, Stanford University and NBER



11:30 AM GIORGIO PRIMICERI, Princeton University

Why Inflation Rose and Fell:

Policymakers' Beliefs and US Postwar Stabilization Policy



Discussant: ERIC LEEPER, Indiana University and NBER



12:30 PM Lunch



1:30 PM CHRISTINA ROMER and DAVID ROMER, UC, Berkeley and NBER

A New Measure of Monetary Shocks:

Derivation and Implications



Discussant: JOHN COCHRANE, University of Chicago and NBER



2:30 PM Coffee Break



3:00 PM YONGSUNG CHANG, ANDREAS HORNSTEIN, and

PIERRE-DANIEL SARTE, Federal Reserve Bank of Richmond

Productivity, Employment, and Inventories



Discussant: VALERIE RAMEY, UC, San Diego and NBER



4:00 PM RICARDO CABALLERO, MIT and NBER

EDUARDO ENGEL,Yale University and NBER

Adjustment is Much Slower than You Think



Discussant: ROBERT HALL, Stanford University and NBER



5:00 PM Adjourn









6/28/04