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Fiscal Policy after the Financial Crisis

 

 

 

an NBER Conference

 

to be held at IGIER-Bocconi University
N01 Piazza Sraffa 13
Milan, Italy

 

December 12-13, 2011

 

 

 

Organizers: Alberto Alesina and Francesco Giavazzi

 

 

 

 

 

 

 

Program

 

 

REPORT

Monday, December 12

 

 

8.30 am

Coffee

 

 

9:00 am

Government Spending and Private Activity

 

Valerie Ramey, University of California at San Diego and NBER

 

 

 

Discussant: Roberto Perotti, Bocconi University and NBER

 

 

10:15 am

Fiscal Multipliers in Recession and Expansion

 

Alan Auerbach, Univeristy of California at Berkeley and NBER

 

Yuriy Gorodnichenko, Univeristy of California at Berkeley and NBER

 

 

 

Discussant: Robert Hall, Stanford University and NBER

 

 

11.15 am

Coffee break

 

 

11.45 am

The Household Effects of Government Spending

 

Francesco Giavazzi, Bocconi University and NBER

 

Michael McMahon, University of Warwick

 

 

 

Discussant: Lawrence Christiano, Northwestern University and NBER

 

 

12.45 pm

Lunch

 

 

2:00 pm

How Do Laffer Curves Differ Across Countries?

 

Mathias Trabandt, European Central Bank

 

Harald Uhlig, University of Chicago and NBER

 

 

 

Discussant: Jaume Ventura, University Pompeu Fabra and NBER

 

 

3:00 pm

The Role of Growth Slowdowns and Forecast Errors in Public Debt Crises

 

William Easterly, New York University and NBER

 

 

 

Discussant: Indira Rajaraman, Indian Statistical Institute

 

 

4:00 pm

Coffee break

 

 

4.30 pm

Game Over: Quantifying and Simulating Unsustainable Fiscal Policy

 

Richard Evans, Brigham Young University

 

Laurence Kotlikoff, Boston University and NBER

 

Kerk Phillips, Brigham Young University

 

 

 

Discussant: Douglas Elmendorf, Congressional Budget Office

 

 

5.30 pm

Adjourn

 

 

7:15 pm

Dinner

 

Dinner Speech: Political Economy and Fiscal Reform

 

by Martin Feldstein, Harvard University and NBER

 

 

Tuesday, December 13

 

 

8.30 am

Coffee

 

 

9:00 am

Perceptions and Misperceptions of Fiscal Inflation

 

Eric Leeper, Indiana University and NBER

 

Todd Walker, Indiana University

 

 

 

Discussant: Jordi Gali, University Pompeu Fabra and NBER

 

 

10:00 am

Tax Reform and Fiscal Policy

 

Michael Keen, International Monetary Fund

 

Ruud de Mooij, International Monetary Fund

 

 

 

Discussant: James Poterba, Massachusetts Institute of Technology and NBER

 

 

11:00 am

Coffee break

 

 

11:30 am

Can Public Sector Wage Bills Be Reduced?

 

Pierre Cahuc, Ecole Polytechnique and CREST (INSEE)

 

Stephane Carcillo, OECD and Sciences Po, Paris

 

 

 

Discussant: Paolo Pinotti, Bocconi University

 

 

12:30 pm

Lunch

 

 

1:30 pm

Entitlement Reforms in Europe: Policy Mixes in the Current Pension Reform Process

 

Axel Boersch-Supan, University of Mannheim and NBER

 

 

Discussant: David Wise, Harvard University and NBER

 

 

 

2:30 pm

The "Austerity Myth": Gain Without Pain?

 

Roberto Perotti, Bocconi University and NBER

 

 

 

Discussant: Philip Lane, Trinity College Dublin

 

 

3:30 pm

Coffee break

 

 

4:00 pm

The Electoral Consequences of Large Fiscal Adjustments

 

Alberto Alesina, Harvard University and NBER

 

Dorian Carloni, University of California at Berkeley

 

Giampaolo Lecce, Bocconi University

 

 

 

Discussant: Thomas Romer, Princeton University

 

 

5:00 pm

Fiscal Rules: Theoretical Issues and Historical Experiences

 

Charles Wyplosz, The Graduate Institute, Geneva

 

 

 

Discussant: Lucio Pench, European Commission

 

 

6:00 pm

Adjourn

 

==================================

 

 

 

 

 

 

 

 

 

Format:

 

Authors: 25 minutes

 

Discussants: 20 minutes

 

General discussion: 15 minutes