Monday, July 8
12:00 pm
Lunch
Afternoon joint with Impulse and Propagation Mechanisms
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
12:00 pm
Lunch
1:00 pm

Lumpy Durable Consumption Demand and the Limited Ammunition of Monetary Policy

Alisdair McKay, Federal Reserve Bank of Minneapolis
Johannes Wieland, University of California, San Diego and NBER

Discussant:
Stephen J. Terry, University of Michigan and NBER
2:00 pm
Break
2:30 pm

Do Greasy Wheels Curb Inequality? (slides)

Cynthia Doniger, Federal Reserve Board of Governors

Discussant:
Ayşegül Şahin, Princeton University and NBER
3:30 pm

Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data

Margherita Bottero, Banca d'Italia
Camelia Minoiu, Federal Reserve Bank of Atlanta
José-Luis Peydro, Universitat Pompeu Fabra
Andrea F. Presbitero, International Monetary Fund
Enrico Sette, Banca d'Italia
Andrea Polo, Pompeu Fabra University

Discussant:
Mauricio Ulate, Federal Reserve Bank of San Francisco
4:30 pm
Adjourn
Wednesday, July 10
12:00 pm
Lunch
Afternoon joint with Macro, Money and Financial Frictions and with International Finance and Macroeconomics in the Ballroom
1:00 pm

Mussa Puzzle Redux

Oleg Itskhoki, Harvard University and NBER
Dmitry Mukhin, London School of Economics and Political Science (LSE)

Discussant:
Fabrizio Perri, Federal Reserve Bank of Minneapolis
2:00 pm
Break
2:30 pm

The Two-Pillar Policy for the RMB

Urban Jermann, University of Pennsylvania and NBER
Bin Wei, Federal Reserve Bank of Atlanta
Vivian Yue, Emory University and NBER

Discussant:
Wenxin Du, Harvard University and NBER
3:30 pm

How Monetary Policy Shaped the Housing Boom

Itamar Drechsler, University of Pennsylvania and NBER
Alexi Savov, New York University and NBER
Philipp Schnabl, New York University and NBER

Discussant:
Joseph S. Vavra, University of Chicago and NBER
4:30 pm
Adjourn
6:00 pm
Clambake at the Royal Sonesta Hotel
Thursday, July 11
12:00 pm
Lunch
1:00 pm

Interbank Networks in the Shadows of the Federal Reserve Act

Haelim Anderson, Bank Policy Institute
Selman Erol, Carnegie Mellon University, Tepper
Guillermo Ordoñez, University of Pennsylvania and NBER

Discussant:
Gary Richardson, University of California, Irvine and NBER
2:00 pm
Break
2:30 pm

Policy Language and Information Effects in the Early Days of Federal Reserve Forward Guidance

Kurt G. Lunsford, Federal Reserve Bank of Cleveland

Discussant:
Philippe Andrade, Federal Reserve Bank of Boston
3:30 pm

Stock Market Wealth and the Real Economy: A Local Labor Market Approach

Gabriel Chodorow-Reich, Harvard University and NBER
Plamen T. Nenov, Norges Bank
Alp Simsek, Yale University and NBER

Discussant:
Anthony A. DeFusco, University of Wisconsin - Madison and NBER
4:30 pm
Adjourn
Friday, July 12
12:00 pm
Lunch
Afternoon joint with Behavioral/Macro
1:00 pm

Managing Expectations without Rational Expectations (slides)

George-Marios Angeletos, Northwestern University and NBER
Karthik Sastry, Princeton University and NBER

Discussant:
Gauti B. Eggertsson, Brown University and NBER
2:00 pm
Break
2:30 pm

On the Limits of Monetary Policy

Stefano Eusepi, Brown University
Marc Giannoni, Barclays Corporate and Investment Bank
Bruce Preston, University of New South Wales

Discussant:
Athanasios Orphanides, Massachusetts Institute of Technology
3:30 pm

Asset Pricing with Fading Memory

Stefan Nagel, University of Chicago and NBER
Zhengyang Xu, City University of Hong Kong

Discussant:
Stefano Giglio, Yale University and NBER
4:30 pm
Adjourn