NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

Macroeconomics and Individual Decision Making Conference

George Akerlof and Robert Shiller, Organizers

November 5, 2005

NBER

2^nd Floor Conference Room

1050 Massachusetts Avenue

Cambridge, Massachusetts

PROGRAM

SATURDAY, NOVEMBER 5:

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

8:30 AM Continental Breakfast

9:00 AM NABIL AL-NAJJAR, SANDEEP BALIGA, and

DAVID BESANKO, Northwestern University

The Sunk Cost Bias and Managerial Pricing Practices

Discussant: TRUMAN BEWLEY, Yale University

10:00 AM Coffee Break

10:30 AM WILLIAM DICKENS, Brookings Institution

LORENZ GOETTE, University of Zurich

ERICA GROSHEN, Federal Reserve Bank of New York

STEINAR HOLDEN, University of Oslo

JULIAN MESSINA, JARKKO TURUNEN, and

MELANIE WARD, European Central Bank

MARK SCHWEITZER, Federal Reserve Bank of Cleveland

The Interaction of Labor Markets and Inflation:

Analysis of Micro Data from the International Wage Flexibility Project

Discussant: RICARDO REIS, Princeton University and NBER

11:30 AM REFET GURKAYNAK, Bilkent University

JUSTIN WOLFERS, University of Pennsylvania and NBER

Macroeconomic Derivatives: An Initial Analysis of Market-Based Macro Forecasts, Uncertainty and Risk

Discussant: PAUL WILLEN, Federal Reserve Bank of Boston and NBER

12:30 PM Lunch

1:30 PM RICARDO CABALLERO, MIT and NBER

ARVIND KRISHNAMURTHY, Northwestern University

Financial System Risk and Flight to Quality

Discussant: JON FAUST, Federal Reserve Board

2:30 PM Coffee Break

3:00 PM ANNAMARIA LUSARDI, Dartmouth College and NBER

OLIVIA MITCHELL, University of Pennsylvania and NBER

Financial Literacy and Planning: Implications for Retirement Well-Being

Discussant: ANDREW CAPLIN, New York University and NBER

4:00 PM GEORGE AKERLOF, UC, Berkeley

The Missing Motivation in Macroeconomics

Discussant: ROBERT SOLOW, MIT

5:00 PM Adjourn

10/19/05