22nd Annual NBER-TCER-CEPR Conference on

Sticky Prices and Inflation Dynamics

 

December 17-18, 2008

 

Asian Development Bank Institute

Kasumigaseki Building 8F

3-2-5, Kasumigaseki, Chiyoda-ku

Tokyo, Japan

 

Jordi Gali, Takeo Hoshi, Anil Kashyap, and Tsutomu Watanabe, Organizers

 

Sponsors: Center for Economic Policy Research, Hitotsubashi University, National Bureau of Economic Research, and Tokyo Center for Economic Research

 

Program

 

December 17, 2008:

 

 

Chair: Anil Kashyap, University of Chicago and NBER

 

 

9:30 am

Chihiro Shimizu, Reitaku University

 

Kiyohiko Nishimura, Former Professor of Economics, University of Tokyo

 

Tsutomu Watanabe, Hitotsubashi University and TCER

 

Residential Rents and Price Rigidity:Micro Structure and Macro Consequences

 

 

 

Discussant: Takatoshi Ito, University of Tokyo and NBER

 

 

10:30 am

Coffee Break

 

 

11:00 am

Kenn Ariga, Kyoto University

 

Ryo Kambayashi, Hitotsubashi University

 

Employment and Wage Adjustments at Firms under Distress in Japan: An Analysis Based upon a Survey

 

 

 

Discussant: Jordi Gali, CREI and NBER

 

 

12:00 pm

Lunch

 

 

Chair: Jordi Gali, CREI and NBER

 

 

1:30 pm

Fabio Canova, ICREA-UPF

 

Tobias Menz, University of Bern

 

Does Money have a Role in Shaping Domestic Business Cycles? An International Investigation

 

 

 

Discussant: Andrew Levin, Federal Reserve Board

 

 

2:30 pm

Tea Break

 

 

3:00 pm

Morten Ravn, European University Institute and CEPR

 

Stephanie Schmitt-Grohe, Columbia University and NBER

Martin Uribe, Columbia University and NBER

Lenno Uuskula, European University Institute

 

Deep Habits and the Dynamic Effects of Monetary Policy Shocks

 

 

 

Discussant: Tomoyuki Nakajima, Kyoto University

 

 

4:00 pm

Naohito Abe, Hitotsubashi University

 

Daiji Kawaguchi, Hitotsubashi University

 

Incumbentís Price Response to New Entry: The Case of Japanese Supermarkets

 

 

 

Discussant: Anil Kashyap, University of Chicago and NBER

 

 

5:00 pm

Adjourn

 

 

6:30 pm

Dinner

 

China Garden "IWAEN"

3F Tokyo Club Building

3-2-6 Kasumigaseki, Chiyoda-ku, Tokyo

 

December 18, 2008:

 

 

Chair: Takeo Hoshi, UC, San Diego and NBER

 

 

9:30 am

Oleksiy Kryvtsov, Bank of Canada

 

Virgiliu Midrigan, New York University and NBER

 

Inventories and Real Rigidities in New Keynesian Business Cycle Models

 

 

 

Discussant: Etsuro Shioji, Hitotsubashi University

 

 

10:30 am

Coffee Break

 

 

11:00 am

Kevin Clinton, Consultant

 

Marianne Johnson, Bank of Canada

 

Ondra Kamenik, International Monetary Fund

Douglas Laxton, International Monetary Fund

 

Deflation Risks Under Alternative Monetary Policy Rules

 

 

 

Discussant: Gauti Eggertsson, Federal Reserve Bank of New York

 

12:00 pm

Lunch and Adjourn

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12/11/08