41st Annual Conference on Macroeconomics
Organized by John V. Leahy, Valerie A. Ramey, and Giovanni L. Violante
April 16-17, 2026
Royal Sonesta Hotel, 40 Edwin H. Land Blvd., Cambridge, MA
Format: Authors and discussants each have 20 minutes for their presentations. Remaining 15 minutes will be for Q&A.
Thursday, April 16
1:15 pm

What About Japan?

Yi-Li Chien, Federal Reserve Bank of St. Louis
Harold L. Cole, University of Pennsylvania and NBER
Hanno Lustig, Stanford University and NBER

Discussants:
Takeo Hoshi, The University of Tokyo
Cristina Arellano, Federal Reserve Bank of Minneapolis
2:30 pm
Break
2:45 pm

Macroeconomic and Fiscal Consequences of Quantitative Easing

Tobias Adrian, International Monetary Fund
Christopher Erceg, International Monetary Fund
Marcin Kolasa, International Monetary Fund
Jesper Lindé, Sveriges Riksbank
Pawel Zabczyk, International Monetary Fund

Discussants:
Mark Gertler, New York University and NBER
Marco Del Negro, Federal Reserve Bank of New York
4:00 pm
Break
4:15 pm

Growing Data, Slowing Productivity

Ankit Bhutani, Columbia University
Guillermo Ordoñez, University of Pennsylvania and NBER
Laura Veldkamp, Columbia University and NBER

Discussant:
John Fernald, INSEAD
Dimitris Papanikolaou, Northwestern University and NBER
5:30 pm
Adjourn
5:45 pm
Reception and Group Dinner at the Royal Sonesta Hotel
Friday, April 17
8:30 am
Continental Breakfast
9:00 am

The Postpandemic U.S. Immigration Surge: New Facts and Inflationary Implications

Anton Cheremukhin, Federal Reserve Bank of Dallas
Sewon Hur, Federal Reserve Bank of Dallas
Ronald R. Mau, Federal Reserve Bank of Dallas
Karel Mertens, Federal Reserve Bank of Dallas
Alexander W. Richter, Federal Reserve Bank of Dallas
Xiaoqing Zhou, Federal Reserve Bank of Dallas

Discussant:
Wendy Edelberg, The Brookings Institution
Alisdair McKay, Federal Reserve Bank of Minneapolis
10:15 am
Break
10:30 am

Scaling Up the American Dream: A Dynamic Analysis

Alessandra Fogli, Federal Reserve Bank of Minneapolis
Veronica Guerrieri, University of Chicago and NBER
Mark Ponder, NERA Economic Consulting
Marta Prato, Bocconi University

Discussant:
Edward L. Glaeser, Harvard University and NBER
Diego Daruich, University of Southern California
11:45 am
Break
12:00 pm

Falling Dominoes? The Impact of the US Exit from Free Trade on the Sustainability of Trade Cooperation

Barthélémy Bonadio, New York University Abu Dhabi
Andrei A. Levchenko, University of Michigan and NBER
Nitya Pandalai-Nayar, University of Texas at Austin and NBER

Discussant:
Gene M. Grossman, Princeton University and NBER
George A. Alessandria, University of Rochester and NBER
1:15 pm
Adjourn and Lunch