NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

 

SUMMER INSTITUTE 2004

 

Monetary Economics Workshop

 

Christina D. Romer and David H. Romer, Organizers

 

Royal Sonesta Hotel

5 Cambridge Parkway

Cambridge, Massachusetts

 

July 12 - 16, 2004

 

Program

 

MONDAY, JULY 12:

 

 

12:00 N

Lunch

 

 

1:00 p.m.

GIORGIO PRIMICERI, Princeton University

 

Why Inflation Rose and Fell:  Policymakers= Beliefs and US Postwar Stabilization Policy

 

 

1:55 p.m.

CHRISTOPHER SIMS, Princeton University and NBER

 

TAO ZHA, Federal Reserve Bank of Atlanta

 

Were There Regime Switches in US Monetary Policy?

 

 

2:50 p.m.

Break

 

 

3:05 p.m.

EDWARD NELSON, Federal Reserve Bank of St. Louis

 

The Great Inflation of the Seventies:  What Really Happened?

 

 

4:00 p.m.

Adjourn

 

 

TUESDAY, JULY 13:

 

 

12:00 N

Lunch

 

 

1:00 p.m.

JULIAN DI GIOVANNI, International Monetary Fund

 

JUSTIN MCCRARY, University of Michigan

 

TILL VON WACHTER, Columbia University

 

Following the Leader: Simple Estimates of the Effect of Monetary Policy on the Economy 

 

 

 

1:55 p.m.

Break

 

 

2:10 p.m.

IGNAZIO ANGELONI, European Central Bank

 

European Central Bank Project on Inflation Persistence in the Euro Area:

 

A Progress Report

 

 

 

Presentations by HERVE LE BIHAN, Banque de France

 

and KARL WHELAN, Central Bank and Financial Services Authority of Ireland

 

3:40 p.m.

Adjourn

 

 

 

 

WEDNESDAY, JULY 14:

 

 

12:00 N

Lunch

 

 

1:00 p.m.

MONIKA PIAZZESI, University of Chicago and NBER

 

ERIC SWANSON, Federal Reserve Board

 

Futures Prices as Risk Adjusted Forecasts of Monetary Policy

 

 

1:55 p.m.

GLENN RUDEBUSCH and TAO WU, Federal Reserve Bank of San Francisco

 

A Macro-Finance Model of the Term Structure, Monetary Policy, and the Economy

 

 

2:50 p.m.

Break

 

 

3:05 p.m.

Discussion with DONALD L. KOHN, Member, Federal Reserve Board

 

 

4:00 p.m.

Adjourn

 

 

6:00 p.m.

Clambake, Harvard Faculty Club, 20 Quincy Street, Cambridge, MA

 

 

THURSDAY, JULY 15:

 

 

12:00 N

Lunch

 

 

1:00 p.m.

PETER J. KLENOW, Stanford University and NBER

 

OLEKSIY KRYVTSOV, Bank of Canada

 

State-Dependent or Time-Dependent Pricing:  Does It Matter for Recent U.S. Inflation?

 

 

1:55 p.m.

Break

 

 

2:10 p.m.

JOHN M. ROBERTS, Federal Reserve Board

 

Monetary Policy and Inflation Dynamics

 

 

3:05 p.m.

Adjourn

 

 

FRIDAY, JULY 16:

 

 

12:00 N

Lunch

 

 

1:00 p.m.

CHRISTOPHER HOUSE, University of Michigan

 

MATTHEW SHAPIRO, University of Michigan and NBER

 

Phased-In Tax Cuts and Economic Activity

 

 

1:55 p.m.

OLIVIER JEANNE, International Monetary Fund

 

LARS E.O. SVENSSON, Princeton University and NBER

 

Credible commitment to Optimal Escape from a Liquidity Trap:

 

The Role of the Balance Sheet of an Independent Central Bank

 

 

2:50 p.m.

Break

 

 

3:05 p.m.

Discussion with N. GREGORY MANKIW

 

Chairman, Council of Economic Advisers and NBER

 

 

4:00 p.m.

Adjourn

 

 

5/4/04