NATIONAL
BUREAU OF ECONOMIC RESEARCH, INC. |
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SUMMER
INSTITUTE 2004 |
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Capital
Markets and the Economy Workshop |
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Janice
Eberly and Deborah Lucas, Organizers |
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Royal
Sonesta Hotel |
5
Cambridge Parkway |
Cambridge,
Massachusetts |
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July
19 - 21, 2004 |
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PROGRAM
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MONDAY,
JULY 19: |
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8:15 a.m. |
Coffee
and Pastries |
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Asset
Pricing, Participation and Risk Sharing |
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8:45 a.m. |
ROBERT
DAMMON and CHESTER SPATT, Carnegie Mellon University |
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HAROLD
ZHANG, University of North Carolina |
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Diversification and Capital Gains Taxes with Multiple
Risky Assets |
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Discussant:
ROBERT MCDONALD, Northwestern University |
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9:35 a.m. |
YANNIS
BILIAS and MICHAEL HALIASSOS, University of Cyprus |
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The Distribution of Gains from Access to Stocks |
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Discussant:
STEVEN ZELDES, Columbia University and NBER |
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10:25
a.m. |
Break |
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10:40
a.m. |
JOHN
HEATON, University of Chicago and NBER |
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DEBORAH LUCAS,
Northwestern University and NBER |
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Discussant:
PETER DIAMOND, MIT and NBER |
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11:30
a.m. |
FRANCISCO
GOMES, London Business School |
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ALEXANDER
MICHAELIDES, London School of Economics |
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Asset
Pricing with Limited Risk Sharing and Heterogeneous Agents |
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Discussant:
JOHN HEATON, University of Chicago and NBER |
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12:20
p.m. |
Lunch
and Adjourn |
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6:30
p.m. |
Group
Dinner at Davio's Restaurant, Royal Sonesta Hotel |
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TUESDAY,
JULY 20: |
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8:15 a.m. |
Coffee
and Pastries |
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Financing
Constraints |
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8:45 a.m. |
RICARDO
CABALLERO, MIT and NBER |
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ARVIND KRISHNAMURTHY,
Northwestern University |
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Discussant:
GITA GOPINATH, University of Chicago |
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9:45 a.m. |
Break |
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10:00
a.m. |
GARY
GORTON, University of Pennsylvania and NBER |
|
PING HE,
University of Pennsylvania |
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Discussant:
CHARLIE KAHN, University of Illinois |
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11:00
a.m. |
Break |
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11:15
a.m. |
MICHAEL
HANSON, Wesleyan University |
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ERIK
HURST, University of Chicago and NBER |
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KI-YOUNG
PARK, |
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Discussant:
ERIC ROSENGREN, Federal Reserve Bank of Boston |
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12:15
p.m. |
Lunch
and Adjourn |
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WEDNESDAY,
JULY 21: |
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8:15 a.m. |
Coffee
and Pastries |
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Factors
and Frictions |
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8:45 a.m. |
JOHN
LAITNER and DMITRIY STOLYAROV, University of Michigan |
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Owned Ideas:
When are Stock Market Run-ups Too Fast to be Rational? |
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Discussant:
ANDREW ABEL, University of Pennsylvania and NBER |
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9:35 a.m. |
NICK
BLOOM, London School of Economics |
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Excavating
the Dynamics of Investment, Employment, and Uncertainty |
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Discussant:
RUSSELL COOPER, University of Texas and NBER |
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10:25
a.m. |
Break |
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10:40
a.m. |
CLAUDIO
MICHELACCI, CEMFI |
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VINCENZO
QUADRINI, New York University and NBER |
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Discussant:
RICHARD ROGERSON, Arizona State University and NBER |
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11:30
a.m. |
NARAYANA
KOCHERLAKOTA, Stanford University and NBER |
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LUIGI
PISTAFERRI, Stanford University |
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Asset Pricing Implications of Pareto Optimality
with Private Information |
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Discussant:
ADRIANO RAMPINI, Northwestern University |
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12:20
p.m. |
Lunch
and Adjourn |
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7/6/04 |
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