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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SI 2015 Monetary Economics Workshop

Christina D. Romer and David H. Romer, Organizers

July 6-10, 2015

Charles Suite
Royal Sonesta Hotel
40 Edwin H. Land Blvd.
Cambridge, MA

PROGRAM

Monday, July 06
12:00 noon		Lunch
1:00 pm		Matthew Rognlie, Massachusetts Institute of Technology Andrei Shleifer, Harvard University and NBER Alp Simsek, Massachusetts Institute of Technology and NBER Investment Hangover and the Great Recession
1:55 pm		Break
2:05 pm		Carlos Carvalho, Pontifical Catholic University of Rio de Janeiro Tiago T. Florido, Pontifical Catholic University of Rio de Janeiro Eduardo Zilberman, Pontifical Catholic University of Rio de Janeiro Transitions in Central Bank Leadership
3:00 pm		Break
3:10 pm		Alisdair McKay, Boston University Emi Nakamura, Columbia University and NBER Jón Steinsson, Columbia University and NBER The Power of Forward Guidance Revisited
4:05 pm		Adjourn
Tuesday, July 07
12:00 noon		Lunch
1:00 pm		Discussion with Haruhiko Kuroda, Governor of the Bank of Japan
2:30 pm		Break
3:00 pm		James S. Cloyne, Bank of England Paolo Surico, London Business School Clodomiro Ferreira, European University Institute Monetary Policy When Households Have Debt: New Evidence on the Transmission Mechanism.
3:55 pm		Olivier Coibion, University of Texas at Austin and NBER Yuriy Gorodnichenko, University of California at Berkeley and NBER Saten Kumar, AUT University How Do Firms Form Their Expectations? New Survey Evidence
4:50 pm		Adjourn
Wednesday, July 08
12:00 noon		Lunch
1:00 pm		Michael Gelman, University of Michigan Shachar Kariv, University of California at Berkeley Matthew D. Shapiro, University of Michigan and NBER Dan Silverman, Arizona State University and NBER Steven Tadelis, University of California at Berkeley and NBER How Individuals Smooth Spending: Evidence from the 2013 Government Shutdown Using Account Data
1:55 pm		Break
2:05 pm		Marco Di Maggio, Columbia University Amir Kermani, University of California at Berkeley The Importance of Unemployment Insurance as an Automatic Stabilizer
3:00 pm		Break
3:10 pm		Gary B. Gorton, Yale University and NBER Ellis Tallman, Federal Reserve Bank of Cleveland How Did Pre-Fed Banking Panics End?
4:05 pm		Adjourn
6:00 pm		Clambake, Royal Sonesta Hotel
Thursday, July 09
12:00 noon		Lunch
1:00 pm		Kinda Cheryl Hachem, University of Chicago and NBER Zheng Michael Song, University of Chicago The Rise of China's Shadow Banking System
1:55 pm		Break
2:05 pm		Pierluigi Balduzzi, Boston College Emanuele Brancati, LUISS Guido Carli Fabio Schiantarelli, Boston College Financial Markets, Banks' Cost of Funding, and Firms' Decisions: Lessons from Two Crises
3:00 pm		Break
3:10 pm		Arvind Krishnamurthy, Stanford University and NBER Tyler Muir, Yale University Credit Spreads and the Severity of Financial Crises
4:05 pm		Adjourn
Friday, July 10
8:00 am	Coffee and pastries
8:30 am	Douglas W. Diamond, University of Chicago and NBER Anil Kashyap, University of Chicago and NBER Liquidity Requirements, Liquidity Choice and Financial Stability Discussant: Gary B. Gorton, Yale University and NBER
9:30 am	Sebastian Di Tella, Stanford University Optimal Financial Regulation and the Concentration of Aggregate Risk Discussant: Peter Kondor, Central European University
10:30 am	Break
11:00 am	Jeremy C. Stein, Harvard University and NBER Adi Sunderam, Harvard University and NBER Gradualism in Monetary Policy: A Time-Consistency Problem? Discussant: Michael Woodford, Columbia University and NBER
12:00 noon	Lunch
1:00 pm	José-Luis Peydró, Universitat Pompeu Fabra Bernardo C. Morais, Federal Reserve Board Claudia Ruiz Ortega, World Bank The International Bank Lending Channel of Monetary Policy Rates and QE: Credit Supply, Reach-for-Yield and Real Effects Discussant: Gabriel Chodorow-Reich, Harvard University and NBER
2:00 pm	Break
2:30 pm	Simon Gilchrist, Boston University and NBER Raphael Schoenle, Brandeis University Jae Sim, Federal Reserve Board Egon Zakrašjek, Federal Reserve Board Financial Heterogeneity and Monetary Union Discussant: Ricardo Reis, Columbia University and NBER
3:30 pm	Valentin Haddad, Princeton University and NBER David Sraer, University of California at Berkeley and NBER The banking view of bond risk premia Discussant: Monika Piazzesi, Stanford University and NBER
4:30 pm	Adjourn