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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

Universities Research Conference

The Macroeconomic Consequences of Risk and Uncertainty

Xavier Gabaix and Nicholas Bloom, Organizers

September 19-20, 2014

Royal Sonesta Hotel

Riverfront Room
40 Edwin H. Land Boulevard
Cambridge, Massachusetts

PROGRAM

Friday, September 19:
12:00 pm	Lunch – Longfellow Room
1:00 pm	Pedro Bordalo, University of London Nicola Gennaioli, Bocconi University Andrei Shleifer, Harvard University and NBER Stereotypes Discussant: Wei Xiong, Princeton University and NBER
1:45 pm	Anna Orlik, Federal Reserve Board Laura Veldkamp, New York University and NBER Understanding Uncertainty Shocks and the Role of Black Swans Discussant: Ruediger Bachmann, University of Notre Dame
2:30 pm	Break
3:00 pm	Gill Segal, University of Pennsylvania Ivan Shaliastovich, University of Pennsylvania Amir Yaron, University of Pennsylvania and NBER Good and Bad Uncertainty: Macroeconomic and Financial Market Implications Discussant: Pietro Veronesi, University of Chicago and NBER
3:45 pm	George Alessandria, University of Rochester and NBER Horag Choi, Monash University Joseph Kaboski, University of Notre Dame and NBER Virgiliu Midrigan, New York University and NBER Microeconomic Uncertainty, International Trade, and Aggregate Fluctuations Discussant: Kyle Handley, University of Michigan and NBER
4:30 pm	Break
4:45 pm	Marina Azzimonti, Federal Reserve Bank of Philadelphia Partisan Conflict Discussant: Scott Baker, Northwestern University
5:30 pm	Adjourn
6:00 pm	Reception and Dinner – Skyline Rooms A, B, C, D
Saturday, September 20:
8:00 am	Continental Breakfast – Riverfront Room
8:30 am	John Campbell, Harvard University and NBER Carolin Pflueger, University of British Columbia Luis Viceira, Harvard University and NBER Monetary Policy Drivers of Bond and Equity Risks Discussant: Olivier Coiboin, University of Texas, Austin and NBER
9:15 am	Jesus Fernandez-Villaverde, University of Pennsylvania and NBER Pablo Guerrón-Quintana, Federal Reserve Bank of Philadelphia Keith Kuester, University of Bonn Juan Rubio-Ramírez, Duke University Fiscal Volatility Shocks and Economic Activity Discussant: Julia Thomas, Ohio State University
10:00 am	Break
10:30 am	Dario Caldara, Federal Reserve Board Cristina Fuentes-Albero, Federal Reserve Board Simon Gilchrist, Boston University and NBER Egon Zakrajsek, Federal Reserve Board The Macroeconomic Impact of Financial and Uncertainty Shocks Discussant: James Stock, Harvard University
11:15 am	Francois Gourio, Federal Reserve Bank of Chicago and NBER Michael Siemer, Federal Reserve Board Adrien Verdelhan, Massachusetts Institute of Technology and NBER Uncertainty Betas and International Capital Flows Discussant: Fabrizio Perri, Bocconi University and NBER
12:00 pm	Lunch – Parkview Room
1:00 pm	Zhaogang Song, Federal Reserve Board George Gao, Cornell University Rare Disaster Concerns Everywhere Discussant: Dmitriy Sergeyev, Bocconi University
1:45 pm	Pablo Fajgelbaum, University of California at Los Angeles and NBER Edouard Schaal, New York University Mathieu Taschereau-Dumouchel, University of Pennsylvania Uncertainty Traps Discussant: Lars-Alexander Kuehn, Carnegie Mellon University
2:30 pm	Break
2:45 pm	Bryan Kelly, University of Chicago and NBER Hanno Lustig, University of California at Los Angeles and NBER Stijn Van Nieuwerburgh, New York University and NBER Firm Volatility in Granular Networks Discussant: Jennifer La’O, Columbia University and NBER
3:30 pm	Adjourn