NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SUMMER INSTITUTE 2005

Impulse and Propagation Mechanisms

Lawrence Christiano and Martin Eichenbaum, Organizers

Royal Sonesta Hotel

5 Cambridge Parkway

Cambridge, Massachusetts

July 18-22, 2005

PRELIMINARY PROGRAM

MONDAY, JULY 18:
8:30 am	Coffee and Pastries
9:00 am	MICHAEL WOODFORD, Columbia University and NBER
	PIERPAOLO BENIGNO, New York University and NBER
	Optimal Inflation Targeting Under Fiscal Stress
10:00 am	Break
10:15 am	OLIVIER BLANCHARD, MIT and NBER
	JORDI GALI, Universitat Pompeu Fabra and NBER
	Real Wage Rigidities and the New Keynesian Model
11:15 am	Break
11:30 am	MARK GERTLER and JOHN LEAHY, New York University and NBER
	A Phillips Curve with an Ss Foundation
12:30 pm	Lunch and Adjourn
TUESDAY, JULY 19:
8:30 am	Coffee and Pastries
9:00 am	STEFANIA ALBANESI, Duke University
	CHRIS SLEET, University of Iowa
	Optimal Dynamic Taxation with Productive Assets
10:00 am	Break
10:15 am	JESUS FERNANDEZ-VILLAVERDE, University of Pennsylvania and NBER
	JUAN F. RUBIO-RAMIREZ, Federal Reserve Bank of Atlanta
	THOMAS J. SARGENT, New York University and NBER
	A, B, C's (and D)'s For Understanding VARS
11:15 am	Break
11:30 am	LAWRENCE CHRISTIANO and MARTIN EICHENBAUM,
	Northwestern University and NBER
	ROB VIGFUSSON, Federal Reserve Board
	Assessing Structural VARs
12:30 n	Lunch and Adjourn
WEDNESDAY, JULY 20:
8:30 am	Coffee and Pastries
9:00 am	BORAGAN ARUOBA, University of Maryland
	CHRIS WALLER, University of Notre Dame
	RANDALL WRIGHT, University of Pennsylvania and NBER
	Money and Capital
10:00 am	Break
10:15 am	FLORIN BILBIIE, University of Oxford
	FABIO GHIRONI, Boston College
	MARC J. MELITZ, Harvard University and NBER
	Business Cycles and Firm Dynamics
11:15 am	Break
11:30 am	HENRY SIU, University of British Columbia
	Time Consistent Monetary Policy with Endogenous Price Rigidity
12:30 pm	Lunch and Adjourn
6:00 pm	Clambake, Harvard Faculty Club, 20 Quincy Street, Cambridge, MA
THURSDAY, JULY 21:
8:30 am	Coffee and Pastries
9:00 am	MARIOS ANGELETOS, MIT and NBER
	Information and the Dynamics of Crises
10:00 am	Break
10:15 am	BEN EDEN, Vanderbilt University
	Substitution and Risk Aversion: Is Risk Aversion Important for Understanding Asset Prices?
11:15 am	Break
11:30 am	VALERIE RAMEY, UC, San Diego and NBER
	NEVILLE FRANCIS, Lehigh University
	A Century of Work and Leisure
12:30 pm	Lunch and Adjourn
FRIDAY, JULY 22:
8:30 am	Coffee and Pastries
9:00 am	IVAN WERNING, MIT and NBER
	Crises and Prices: Information Aggregation, Multiplicity and Volatility
10:00 am	Break
10:15 am	ANDREW ATKESON and HAL COLE, UC, Los Angeles and NBER
	A Dynamic Theory of Optimal Capital Structure and Executive Compensation
11:15 am	Break
11:30 am	LEVON BARSEGHYAN, Cornell University
	Total Factor Productivity and Barriers to Entry
12:30 pm	Lunch and Adjourn
6/2/05