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SI 2026 Impulse and Propagation Mechanisms
Organized by Lawrence Christiano and Martin S. Eichenbaum
July 13-17, 2026
Royal Sonesta Hotel, Edwin H. Land Blvd., Cambridge, MA
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Monday, July 13
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9:00 am
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Coffee and Pastries
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9:30 am
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A Behavioral Foundation for the Investment Wedge
Jean-Paul L'Huillier, Brandeis University
Pierlauro Lopez, Federal Reserve Bank of Cleveland
Sanjay R. Singh, Federal Reserve Bank of San Francisco
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10:15 am
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Strategic Complementarity = Persistence in Linear-Quadratic Mean Field Games
Fernando E. Alvarez, The University of Chicago and NBER
David Argente, Yale University and NBER
Thomas J. Sargent, New York University and NBER
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11:00 am
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Break
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11:15 am
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Doing Macroeconomics with Excess Demands: New Keynesians meet Disequilibrium
Guido Lorenzoni, The University of Chicago and NBER
Iván Werning, Massachusetts Institute of Technology and NBER
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12:00 pm
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Fiscal Transfers and Macroeconomic Stabilization
Michael Woodford, Columbia University and NBER
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12:45 pm
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Lunch and Adjourn
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Tuesday, July 14
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9:00 am
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Coffee and Pastries
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9:30 am
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Pricing and Production without the Invisible Hand
Joel P. Flynn, Yale University and NBER
George Nikolakoudis, The University of Chicago
Karthik Sastry, Princeton University and NBER
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10:15 am
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Heterogeneous Beliefs, Asset Prices, and Business Cycles
Saki Bigio, University of California, Los Angeles and NBER
Dejanir Silva, Purdue University
Eduardo Zilberman
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11:00 am
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Break
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11:15 am
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Complexity Aversion: Macroeconomic Consequences
Xavier Gabaix, Harvard University and NBER
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12:00 pm
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Consumption Wedges: Measuring and Diagnosing Distortions
Sasha Indarte, University of Pennsylvania
Raymond Kluender, Harvard University and NBER
Ulrike Malmendier, University of California, Berkeley and NBER
Michael Stepner, University of Toronto
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12:45 pm
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Lunch and Adjourn
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Wednesday, July 15
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9:00 am
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Coffee and Pastries
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9:30 am
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Fiscal Inaction as Monetary Support
George-Marios Angeletos, Northwestern University and NBER
Chen Lian, University of California, Berkeley and NBER
Christian K. Wolf, Massachusetts Institute of Technology and NBER
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10:15 am
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A Model of Leveraged Bubbles
Nina Biljanovska, International Monetary Fund
Jordi Galí, Center for Research in International Economics and NBER
Lucyna Gornicka, International Monetary Fund
Alexandros Vardoulakis, Board of Governors of the Federal Reserve System
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11:00 am
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Break
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11:15 am
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The Redistributive Power of Business Cycle Fluctuations
Marcin Bielecki Michal Brzoza-Brzezina, National Bank of Poland
Marcin Kolasa, International Monetary Fund
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12:00 pm
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The Future in Today’s Prices: Evidence from a Survey of US Firms
Philippe Andrade, Federal Reserve Bank of Boston
Alexander Dietrich, Danish National Bank
John C. Leer, Morning Consult
Raphael Schoenle, Brandeis University
Jenny Tang, Federal Reserve Bank of Boston
Egon Zakrajšek, Federal Reserve Bank of Boston
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12:45 pm
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Lunch and Adjourn
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Thursday, July 16
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9:00 am
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Coffee and Pastries
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9:30 am
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The Welfare Cost of Inflation in Production Networks
Hassan Afrouzi, Columbia University and NBER
Saroj Bhattarai, University of Texas at Austin
Edson Wu, Board of Governors of the Federal Reserve System
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10:15 am
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The Macroeconomic Effects of Stimulus Checks: Evidence from Postwar Veterans’ Payments
Joao Guerreiro, University of California, Los Angeles and NBER
Jonathan Hazell, London School of Economics and Political Science (LSE)
Diego Kaenzig, Northwestern University and NBER
Ed Manuel, London School of Economics and Political Science (LSE)
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11:00 am
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Break
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11:15 am
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Macroeconomic Effects of Production Networks: A Deep Learning Approach
Jesús Fernández-Villaverde, University of Pennsylvania and NBER
Christian Matthes, University of Notre Dame
Hikaru Saijo, University of California, Santa Cruz
Felipe Schwartzman, Federal Reserve Bank of Richmond
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12:00 pm
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Supply Shocks in a Heterogeneous-Firm New Keynesian Model: The Entry Multiplier
Florin O. Bilbiie, University of Cambridge
Marc Melitz, Harvard University and NBER
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12:45 pm
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Lunch and Adjourn
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Friday, July 17
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9:00 am
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Coffee and Pastries
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9:30 am
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International Currency Competition
Christopher Clayton, Yale University and NBER
Amanda Dos Santos, New York University
Matteo Maggiori, Stanford University and NBER
Jesse Schreger, Columbia University and NBER
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10:15 am
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Financial Conditions Targeting in a Multi-Asset Open Economy
Ricardo J. Caballero, Massachusetts Institute of Technology and NBER
Alp Simsek, Yale University and NBER
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11:00 am
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Break
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11:15 am
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The Perils of Narrowing Fiscal Spaces
Hanno Kase Leonardo Melosi, European University Institute
Matthias Rottner, Bank for International Settlements
Sebastian Rast, De Nederlandsche Bank
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12:00 pm
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Monetary Policy without an Anchor
Luigi Bocola, Stanford University and NBER
Alessandro Dovis, University of Pennsylvania and NBER
Kasper Jørgensen, European Central Bank
Rishabh Kirpalani, University of Wisconsin - Madison
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12:45 pm
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Lunch and Adjourn
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