SI 2019 Impulse and Propagation Mechanisms
Organized by Lawrence Christiano and Martin S. Eichenbaum
July 8-12, 2019
Royal Sonesta Hotel, Edwin H. Land Blvd., Cambridge, MA
Monday, July 8
12:00 pm
Lunch
Joint session with ME in Charles Room
1:00 pm

Micro Jumps, Macro Humps: Monetary Policy and Business Cycles in an Estimated HANK Model

Adrien Auclert, Stanford University and NBER
Matthew Rognlie, Northwestern University and NBER
Ludwig Straub, Harvard University and NBER
2:00 pm
Break
2:30 pm

Unbundling of Quantitative Easing: Taking a Cue from Treasury Auctions (slides)

Yuriy Gorodnichenko, University of California, Berkeley and NBER
Walker Ray, London School of Economics and Political Science (LSE)
3:30 pm

Firm Debt Covenants and the Macroeconomy: The Interest Coverage Channel (slides)

Daniel Greenwald, New York University and NBER
4:30 pm
Adjourn
Tuesday, July 9
8:30 am
Coffee and Pastries
Tuesday in University BC Room
9:00 am

Entry Costs and the Macroeconomy

Germán Gutiérrez, University of Washington
Thomas Philippon, New York University and NBER
Callum J. Jones, Federal Reserve Board of Governors
10:00 am
Break
10:15 am

Productivity and Misallocation in General Equilibrium

David R. Baqaee, University of California, Los Angeles and NBER
Emmanuel Farhi, Harvard University
11:15 am
Break
11:30 am

Firm Wages in a Frictional Labor Market

Leena Rudanko, Federal Reserve Bank of Philadelphia
12:30 pm
Adjourn and Lunch
Wednesday, July 10
8:30 am
Coffee and Pastries
Wednesday in University BC Room
9:00 am

Noisy Memory and Over-Reaction to News

Michael Woodford, Columbia University and NBER
Rava Azeredo da Silveira, Ecole Normale Superieure
Yeji Sung, Federal Reserve Bank of San Francisco
10:00 am
Break
10:15 am

Short-Term Planning, Monetary Policy, and Macroeconomic Persistence (slides)

Christopher Gust, Federal Reserve Board of Governors
Edward P. Herbst, Federal Reserve Board of Governors
David López-Salido, Federal Reserve Board of Governors
11:15 am
Break
11:30 am

Business Cycle Anatomy (slides)

George-Marios Angeletos, Northwestern University and NBER
Fabrice Collard, Toulouse School of Economics
Harris Dellas, University of Bern
12:30 pm
Adjourn and Lunch
6:00 pm
Clambake at the Royal Sonesta Hotel
Thursday, July 11
8:30 am
Coffee and Pastries
Thursday meeting in Parkview Room
9:00 am

A Risk-centric Model of Demand Recessions and Macroprudential Policy

Ricardo J. Caballero, Massachusetts Institute of Technology and NBER
Alp Simsek, Yale University and NBER
10:00 am
Break
10:15 am

Monetary Independence and Rollover Crises (slides)

Javier Bianchi, Federal Reserve Bank of Minneapolis
Jorge Mondragon, University of Minnesota
11:15 am
Break
11:30 am

The Channels of Financial Distress During the Great Recession: Some Evidence on the Aggregate Effects

Mark Gertler, New York University and NBER
Simon Gilchrist, New York University and NBER
12:30 pm
Adjourn and Lunch
Friday, July 12
8:30 am
Coffee and Pastries
Friday meeting in Parkview Room
9:00 am

Do Managerial Forecasting Biases Matter?

Yueran Ma, University of Chicago and NBER
Tiziano Ropele, Banca d'Italia
David Sraer, University of California, Berkeley and NBER
David Thesmar, Massachusetts Institute of Technology and NBER
10:00 am
Break
10:15 am

A Theory of Housing Demand Shocks

Zheng Liu, Federal Reserve Bank of San Francisco
Pengfei Wang, Peking University
Tao Zha, Emory University and NBER
11:15 am
Break
11:30 am

The Optimal Inflation Target and the Natural Rate of Interest

Philippe Andrade, Federal Reserve Bank of Boston
Jordi Galí, Center for Research in International Economics and NBER
Herve Le Bihan, Banque de France
Julien Matheron, Banque de France
12:30 pm
Adjourn and Lunch