SI 2019 Monetary Economics

Emi Nakamura and Jón Steinsson, Organizers

July 8-12, 2019


Charles Room

Royal Sonesta Hotel, Edwin H. Land Blvd., Cambridge, MA

Conference Code of Conduct

Monday, July 8
12:00 pm
Lunch
Afternoon joint with Impulse and Propagation Mechanisms
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
12:00 pm
Lunch
1:00 pm
Alisdair McKay, Federal Reserve Bank of Minneapolis
Johannes Wieland, University of California, San Diego and NBER

Lumpy Durable Consumption Demand and the Limited Ammunition of Monetary Policy
Discussant: Stephen J. Terry, University of Michigan and NBER
2:00 pm
Break
2:30 pm
Cynthia Doniger, Federal Reserve Board of Governors

Do Greasy Wheels Curb Inequality? (slides)
Discussant: Ayşegül Şahin, Princeton University and NBER
3:30 pm
Margherita Bottero, Bank of Italy
Camelia Minoiu, Federal Reserve Bank of Atlanta
José-Luis Peydro, Universitat Pompeu Fabra
Andrea F. Presbitero, International Monetary Fund and CEPR
Enrico Sette, Bank of Italy
Andrea Polo, Pompeu Fabra University

Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data
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
Ballroom
Oleg Itskhoki, Harvard University and NBER
Dmitry Mukhin, London School of Economics

Mussa Puzzle Redux
Discussant: Fabrizio Perri, Federal Reserve Bank of Minneapolis
2:00 pm
Break
2:30 pm
Ballroom
Urban Jermann, University of Pennsylvania and NBER
Bin Wei, Federal Reserve Bank of Atlanta
Vivian Yue, Emory University and NBER

The Two-Pillar Policy for the RMB
Discussant: Wenxin Du, Harvard University and NBER
3:30 pm
Ballroom
Itamar Drechsler, University of Pennsylvania and NBER
Alexi Savov, New York University and NBER
Philipp Schnabl, New York University and NBER

How Monetary Policy Shaped the Housing Boom
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
Haelim Anderson, Bank Policy Institute
Selman Erol, Carnegie Mellon University, Tepper
Guillermo Ordoñez, University of Pennsylvania and NBER

Interbank Networks in the Shadows of the Federal Reserve Act
Discussant: Gary Richardson, University of California, Irvine and NBER
2:00 pm
Break
2:30 pm
Kurt G. Lunsford, Federal Reserve Bank of Cleveland

Policy Language and Information Effects in the Early Days of Federal Reserve Forward Guidance
Discussant: Philippe Andrade, Federal Reserve Bank of Boston
3:30 pm
Gabriel Chodorow-Reich, Harvard University and NBER
Plamen T. Nenov, Norges Bank
Alp Simsek, Yale University and NBER

Stock Market Wealth and the Real Economy: A Local Labor Market Approach
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
Charles Suites
George-Marios Angeletos, Northwestern University and NBER
Karthik Sastry, Princeton University and NBER

Managing Expectations without Rational Expectations (slides)
Discussant: Gauti B. Eggertsson, Brown University and NBER
2:00 pm
Break
2:30 pm
Charles Suites
Stefano Eusepi, Brown University
Marc Giannoni, Barclays Corporate and Investment Bank
Bruce Preston, University of Melbourne

On the Limits of Monetary Policy
Discussant: Athanasios Orphanides, Massachusetts Institute of Technology
3:30 pm
Charles Suites
Stefan Nagel, University of Chicago and NBER
Zhengyang Xu, City University of Hong Kong

Asset Pricing with Fading Memory
Discussant: Stefano Giglio, Yale University and NBER
4:30 pm
Adjourn