NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

 

SUMMER INSTITUTE 2008

 

Capital Markets and the Economy Workshop

 

Janice Eberly and Deborah Lucas, Organizers

 

July 14-16, 2008

 

Royal Sonesta Hotel

Charles A

40 Edwin H. Land Boulevard

Cambridge, Massachusetts

 

Program

 

 

MONDAY, JULY 14:

 

 

12:00 pm

Lunch

 

 

1:00 pm

FRANCISCO GOMES, London Business School

 

ALEXANDER MICHAELIDES, London School of Economics

 

VALERY POLKOVNICHENKO, University of Texas

 

Fiscal Policy in an Incomplete Markets Economy

 

 

 

Discussant:  JOSE-VICTOR RIOS RULL, University of Pennsylvania and NBER

 

 

1:50 pm

ADRIANO RAMPINI and S. VISWANATHAN, Duke University

 

Collateral, Financial Intermediation, and the Distribution of Debt Capacity

 

 

 

Discussant:  Emmanuel Farhi, Harvard University

 

 

2:40 pm

Break

 

 

2:55 pm

ITAMAR DRECHSLER, University of Pennsylvania

 

AMIR YARON, University of Pennsylvania and NBER

 

What's Vol Got to Do With It?

 

 

 

Discussant:  LUCA BENZONI, Federal Reserve Bank of Chicago

 

 

3:45 pm

ROBERT HALL, Stanford University and NBER

 

SUSAN WOODWARD, Sand Hill Econometrics, Inc.

 

The Burden of the Nondiversifiable Risk of Entrepreneurship

 

 

 

Discussant:  Matthew Rhodes-Kropf, Harvard University

 

 

4:35 pm

Adjourn

 

 

6:00 pm 

Group Dinner – Dante at the Royal Sonesta Hotel

 

 

TUESDAY, JULY 15:

 

 

12:00 pm

Lunch

 

 

1:00 pm

PETER DE MARZO, Stanford University

 

MICHAEL FISHMAN and ZHIGUO HE, Northwestern University

 

NENG WANG, Columbia University

 

Dynamic Agency and the q Theory of Investment

 

 

 

Discussant:  Guido Lorenzoni, MIT

 

 

2:00 pm

Break

 

 

2:15 pm

FRANCOIS GOURIO, Boston University

 

Estimating Firm-Level Risk

 

 

 

Discussant:  Dimitris Papanikolaou, Northwestern University

 

 

3:15 pm

Break

 

 

3:30 pm

RUSSELL COOPER, Boston University and NBER

 

JOHN HALTIWANGER, University of Maryland and NBER

 

JONATHAN WILLIS, Federal Reserve Bank of Kansas City

 

Euler Equation Methods for Discrete Choice Models: A Capital Accumulation Application

 

 

 

Discussant:  NicHOLAS Bloom, Stanford University and NBER

 

 

4:30 pm

Adjourn

 

 

WEDNESDAY, JULY 16:

 

 

12:00 pm

Lunch

 

 

1:00 pm

ANNAMARIA LUSARDI, Dartmouth College

 

PETER TUFANO, Harvard University and NBER

 

Debt Literacy, Financial Experience, and Over-Indebtedness

 

 

 

Discussant:  Annette Vissing-Jorgensen, Northwestern University and NBER

 

 

2:00 pm

Break

 

 

2:15 pm

MOTOHIRO YOGO, University of Pennsylvania

 

Portfolio Choice in Retirement: Health Risk and the Demand for Annuities, Housing, and Risky Assets

 

 

 

Discussant:  John Ameriks, The Vanguard Group

 

 

3:15 pm

Break

 

 

3:30 pm

ATIF MIAN and AMIR SUFI, University of Chicago

 

The Consequences of Mortgage Credit Expansion: Evidence from the 2007 Mortgage Default Crisis

 

 

 

Discussant:  Paul Willen, Federal Reserve Bank of Boston and NBER

 

 

4:30 pm

Adjourn

 

 

 

 

 

 

 

 

 

 

 

 

5/28/08