NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

MONETARY ECONOMICS PROGRAM MEETING

Laurence Ball and Justin Wolfers, Organizers

March 20, 2009

FEDERAL RESERVE BANK OF NEW YORK

33 Maiden Lane, 10 th Floor

New York, NY 10045

PROGRAM

THURSDAY, MARCH 19:

6:00 pm Reception and Dinner

Federal Reserve Bank of New York

44 Maiden Lane, 1st Floor West Wing

New York, NY 10045

FRIDAY, MARCH 20:

8:30 am Continental Breakfast

9:00 am FRANCESCO TREBBI , University of Chicago and NBER

The Political Economy of the U.S. Mortgage Default Crisis

(Joint with Atif Mian and Amir Sufi)

Discussant: JUSTIN WOLFERS, University of Pennsylvania and NBER

10:00 am Break

10:20 am THOMAS PHILIPPON, New York University and NBER

PHILIPP SCHNABL, New York University

Cost-Efficient Mechanisms Against Debt Overhang

Discussant: LUIGI ZINGALES, University of Chicago and NBER

11:20 am Break

11:40 am SIMON GILCHRIST, Boston University and NBER

VLADIMIR YANKOV, Boston University

EGON ZAKRAJSEK, Federal Reserve Board

Credit Market Shocks and Economic Fluctuations: Evidence from Corporate Bond and Stock Markets

Discussant: JON FAUST, John Hopkins University and NBER

12:40 pm Lunch

1:40 pm CARMEN REINHART, University of Maryland and NBER

KENNETH S. ROGOFF, Harvard University and NBER

Banking Crises: An Equal Opportunity Menace

Discussant: RICARDO REIS, Columbia University and NBER

2:40 pm Break

3:00 pm JONATHAN PARKER and

ANNETTE VISSING-JORGENSEN, Northwestern University and NBER

Who Bears Aggregate Fluctuations and How?

Discussant: CHRISTOPHER CARROLL, John Hopkins University

and NBER

4:00 pm OLIVIER BLANCHARD, International Monetary Fund

Thoughts on the Financial Crisis

5:00 pm Adjourn

2/17/09