SI 2019 Impulse and Propagation Mechanisms

Lawrence Christiano and Martin S. Eichenbaum, Organizers

July 8-12, 2019

University Room

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	Adrien Auclert, Stanford University and NBER Matthew Rognlie, Northwestern University and NBER Ludwig Straub, Harvard University and NBER Micro Jumps, Macro Humps: Monetary Policy and Business Cycles in an Estimated HANK Model
2:00 pm	Break
2:30 pm	Yuriy Gorodnichenko, University of California, Berkeley and NBER Walker Ray, London School of Economics Unbundling of Quantitative Easing: Taking a Cue from Treasury Auctions (slides)
3:30 pm	Daniel Greenwald, New York University and NBER Firm Debt Covenants and the Macroeconomy: The Interest Coverage Channel (slides)
4:30 pm	Adjourn
Tuesday, July 9
8:30 am	Coffee and Pastries
	Tuesday in University BC Room
9:00 am	Germán Gutiérrez, University of Washington Thomas Philippon, New York University and NBER Callum J. Jones, Federal Reserve Board Entry Costs and the Macroeconomy
10:00 am	Break
10:15 am	David R. Baqaee, University of California, Los Angeles and NBER Emmanuel Farhi, Harvard University Productivity and Misallocation in General Equilibrium
11:15 am	Break
11:30 am	Leena Rudanko, Federal Reserve Bank of Philadelphia Firm Wages in a Frictional Labor Market
12:30 pm	Adjourn and Lunch
Wednesday, July 10
8:30 am	Coffee and Pastries
	Wednesday in University BC Room
9:00 am	Michael Woodford, Columbia University and NBER Rava Azeredo da Silveira, Ecole Normale Superieure Yeji Sung, Federal Reserve Bank of San Francisco Noisy Memory and Over-Reaction to News
10:00 am	Break
10:15 am	Christopher Gust, Federal Reserve Board Edward P. Herbst, Federal Reserve Board David López-Salido, Federal Reserve Board Short-Term Planning, Monetary Policy, and Macroeconomic Persistence (slides)
11:15 am	Break
11:30 am	George-Marios Angeletos, Northwestern University and NBER Fabrice Collard, Toulouse School of Economics Harris Dellas, University of Bern Business Cycle Anatomy (slides)
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 Parkview room	Ricardo J. Caballero, Massachusetts Institute of Technology and NBER Alp Simsek, Yale University and NBER A Risk-centric Model of Demand Recessions and Macroprudential Policy
10:00 am	Break
10:15 am Parkview room	Javier Bianchi, Federal Reserve Bank of Minneapolis Jorge Mondragon, University of Minnesota Monetary Independence and Rollover Crises (slides)
11:15 am	Break
11:30 am Parkview room	Mark Gertler, New York University and NBER Simon Gilchrist, New York University and NBER The Channels of Financial Distress During the Great Recession: Some Evidence on the Aggregate Effects
12:30 pm	Adjourn and Lunch
Friday, July 12
8:30 am	Coffee and Pastries
	Friday meeting in Parkview Room
9:00 am Parkview room	Yueran Ma, University of Chicago and NBER Tiziano Ropele, Bank of Italy David Sraer, University of California, Berkeley and NBER David Thesmar, Massachusetts Institute of Technology and NBER Do Managerial Forecasting Biases Matter?
10:00 am	Break
10:15 am Parkview room	Zheng Liu, Federal Reserve Bank of San Francisco Pengfei Wang, Peking University Tao Zha, Emory University and NBER A Theory of Housing Demand Shocks
11:15 am	Break
11:30 am Parkview room	Philippe Andrade, Federal Reserve Bank of Boston Jordi Galí, CREI and NBER Herve Le Bihan, Banque de France Julien Matheron, Banque de France The Optimal Inflation Target and the Natural Rate of Interest
12:30 pm	Adjourn and Lunch