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SI 2026 Monetary Economics
Organized by Emi Nakamura and Jón Steinsson
July 13-17, 2026
Royal Sonesta Hotel, 40 Edwin H. Land Blvd., Cambridge, MA
Format: Authors present for 45 minutes with questions throughout
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Monday, July 13
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12:15 pm
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Lunch
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1:15 pm
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Rethinking Monetary Policy Rules
Jordi Galí, Center for Research in International Economics and NBER
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2:00 pm
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Spend What You Learn: Heterogeneous Agents, Sentiments, and Aggregate Demand
Adrien Auclert, Stanford University and NBER
Hugo Monnery, Harvard University
Matthew Rognlie, Northwestern University and NBER
Ludwig Straub, Harvard University and NBER
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2:45 pm
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Break
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3:00 pm
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When the Fed Reveals Its Hand: The SEP and Monetary Policy Surprises
Andrew B. Martinez, American University
Tara M. Sinclair, The George Washington University
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3:45 pm
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Price Gaps and Inflation Dynamics
Miguel Bandeira, Insper Institute for Education and Research
Laura Castillo-Martinez, Duke University
Shiyuan Wang, Duke University
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4:30 pm
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Adjourn
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Tuesday, July 14
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12:15 pm
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Lunch
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1:15 pm
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How Responsive are Durables Expenditures to Transitory Income Shocks?
Christoph Boehm, University of Texas at Austin and NBER
Changseok Ma, Korea Development Institute (KDI)
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2:00 pm
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Price Passthrough without Intertemporal Substitution: Evidence from Germany’s Temporary VAT Cut
Guenter W. Beck, University of Siegen
Syed Muzzamil Hussain, Universal Barber College
Xavier Jaravel, London School of Economics and Political Science (LSE)
Sebastian G. Kessing, University of Siegen
Sebastian Siegloch, University of Cologne
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2:45 pm
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Break
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3:00 pm
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Real Effects of Nominal Interest Rates
Joshua K. Hausman, University of Michigan and NBER
John Mondragon, Federal Reserve Bank of San Francisco
Johannes Wieland, University of California, San Diego and NBER
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3:45 pm
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Reaching for Duration
Thomas Mertens, Federal Reserve Bank of San Francisco
Pascal Paul, Federal Reserve Bank of San Francisco
Andres M. Schneider, Federal Reserve Board of Governors
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4:30 pm
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Adjourn
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Wednesday, July 15
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8:30 am
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Monetary Shocks and Long-Run Neutrality in Asset Pricing
Anna Cieslak, Duke University and NBER
Paymon Khorrami, Duke University
Discussant:
TBA
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Morning Joint Session with IFM and MEFM in Ballroom A
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9:45 am
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Banking on Inattention
Xu Lu, University of Washington
Lingxuan Sean Wu, New York University
Discussant:
TBA
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11:00 am
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Exchange Rate Stabilization and Monetary Transmission
Paul Fontanier, Yale University
Alp Simsek, Yale University and NBER
Discussant:
TBA
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Thursday, July 16
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12:15 pm
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Lunch
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1:15 pm
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Monetary Policy and Corporate Investment: Sufficient Statistics with Heterogeneous Firms
Antoine Hubert de Fraisse, National Bureau of Economic Research
Peter Maxted, University of California, Berkeley
Kunal Sangani, Northwestern University and NBER
David Sraer, University of California, Berkeley and NBER
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2:00 pm
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Inelastic Capital
Matthieu Gomez, Columbia University
Émilien Gouin-Bonenfant, HEC Montreal
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2:45 pm
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Break
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3:00 pm
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How Do Interest Rates Affect Consumption? Household Debt and the Role of Asset Prices
Jonathon Hazell, London School of Economics and Political Science (LSE)
Angus K. Foulis, Bank of England
Atif R. Mian, Princeton University and NBER
Belinda Tracey, Bank of England
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3:45 pm
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Bank Runs With and Without Bank Failure
Sergio A. Correia, Federal Reserve Bank of Richmond
Stephan Luck, Federal Reserve Bank of New York
Emil Verner, Massachusetts Institute of Technology and NBER
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4:30 pm
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Adjourn
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Friday, July 17
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12:15 pm
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Lunch
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1:15 pm
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Tradability and Goods’ Prices: A Tale of Two Regions
German Gutierrez, University of Washington
Joseba Martinez, London Business School
Thomas Philippon, New York University and NBER
Sophie Piton, Bank of England
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2:00 pm
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Homeownership and the Cost of Living
Gabriel Chodorow-Reich, Harvard University and NBER
Edward L. Glaeser, Harvard University and NBER
Xavier Jaravel, London School of Economics and Political Science (LSE)
Avi Lipton, Harvard University
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2:45 pm
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Break
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3:00 pm
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Monetary Policy Implementation Regimes and Reserve Demand in the US
Saki Bigio, University of California, Los Angeles and NBER
Pablo D'Erasmo, Federal Reserve Bank of Philadelphia
Luis Yepez, University of Chicago
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3:45 pm
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The Macroeconomic Effects of Tariffs: Insights from 180 Years of U.S. Trade Policy
Tamar den Besten, Northwestern University
Regis Barnichon, Federal Reserve Bank of San Francisco
Diego R. Känzig, Northwestern University and NBER
Aayush Singh, Federal Reserve Bank of San Francisco
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4:30 pm
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Adjourn
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