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, Federal Reserve Bank of Chicago

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

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 and Political Science (LSE)

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, The 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, Andersen Institute for Finance and Economics
Selman Erol, Carnegie Mellon University
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, University of Texas at Austin
Marc Giannoni, Barclays Investment Bank
Bruce Preston, University of New South Wales

On the Limits of Monetary Policy
Discussant: Athanasios Orphanides, Massachusetts Institute of Technology
3:30 pm
Charles Suites
Stefan Nagel, The 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