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New Roman"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=756 style='width:567.0pt;mso-cellspacing:0in;mso-yfti-tbllook:1184;mso-padding-alt: 0in 5.4pt 0in 5.4pt'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=756 colspan=3 valign=top style='width:567.0pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'><!--<div id="topstuff" style="text-align:center"> -->Authors, please upload your paper <a href="http://www.nber.org/confsubmit/backend/form?id=EFGs15">here</a>. <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1;mso-row-margin-right:1.25in'> <td width=636 colspan=2 valign=top style='width:477.0pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.<o:p></o:p></span></p> </td> <td style='mso-cell-special:placeholder;border:none;padding:0in 0in 0in 0in' width=120><p class='MsoNormal'>&nbsp;</td> </tr> <tr style='mso-yfti-irow:2;mso-row-margin-right:1.25in'> <td width=636 colspan=2 valign=top style='width:477.0pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'><b style='mso-bidi-font-weight:normal'><span style='font-size:11.0pt;font-family: "Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>EF&amp;G Research Meeting<o:p></o:p></span></b></p> </td> <td style='mso-cell-special:placeholder;border:none;padding:0in 0in 0in 0in' width=120><p class='MsoNormal'>&nbsp;</td> </tr> <tr style='mso-yfti-irow:3;mso-row-margin-right:1.25in'> <td width=636 colspan=2 valign=top style='width:477.0pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Giovanni <span class=SpellE>Violante</span> and Ivan <span class=SpellE>Werning</span>, Organizers<o:p></o:p></span></p> </td> <td style='mso-cell-special:placeholder;border:none;padding:0in 0in 0in 0in' width=120><p class='MsoNormal'>&nbsp;</td> </tr> <tr style='mso-yfti-irow:4;mso-row-margin-right:1.25in'> <td width=636 colspan=2 valign=top style='width:477.0pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>July 11, 2015<o:p></o:p></span></p> </td> <td style='mso-cell-special:placeholder;border:none;padding:0in 0in 0in 0in' width=120><p class='MsoNormal'>&nbsp;</td> </tr> <tr style='mso-yfti-irow:5;mso-row-margin-right:1.25in'> <td width=636 colspan=2 valign=top style='width:477.0pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Royal <span class=SpellE>Sonesta</span> Hotel<br> </span><span style='font-size:11.0pt;font-family:"Arial","sans-serif"'>Grand Ballroom A</span><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><br> 40 Edwin H. Land Boulevard<br> Cambridge, Massachusetts<o:p></o:p></span></p> </td> <td style='mso-cell-special:placeholder;border:none;padding:0in 0in 0in 0in' width=120><p class='MsoNormal'>&nbsp;</td> </tr> <tr style='mso-yfti-irow:6;mso-row-margin-right:1.25in'> <td width=636 colspan=2 valign=top style='width:477.0pt;padding:.75pt .75pt .75pt .75pt'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='border-collapse:collapse;mso-yfti-tbllook:1184;mso-padding-alt:0in 5.4pt 0in 5.4pt'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=623 valign=top style='width:467.25pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> <tr style='mso-yfti-irow:1'> <td width=623 valign=top style='width:467.25pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> <tr style='mso-yfti-irow:2;mso-yfti-lastrow:yes'> <td width=623 valign=top style='width:467.25pt;padding:0in 5.4pt 0in 5.4pt'></td> </tr> </table> </td> <td style='mso-cell-special:placeholder;border:none;padding:0in 0in 0in 0in' width=120><p class='MsoNormal'>&nbsp;</td> </tr> <tr style='mso-yfti-irow:7;mso-row-margin-right:1.25in'> <td width=636 colspan=2 valign=top style='width:477.0pt;padding:.75pt .75pt .75pt .75pt'> <h2 align=center style='text-align:center'><u><span style='font-size:11.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>PROGRAM<o:p></o:p></span></u></h2> </td> <td style='mso-cell-special:placeholder;border:none;padding:0in 0in 0in 0in' width=120><p class='MsoNormal'>&nbsp;</td> </tr> <tr style='mso-yfti-irow:8'> <td width=756 colspan=3 valign=top style='width:567.0pt;padding:.75pt .75pt .75pt .75pt'><u><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman";mso-ansi-language:EN-US;mso-fareast-language:EN-US; mso-bidi-language:AR-SA'><!-- </div> --></span></u> <p class=MsoNormal><u><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p><span style='text-decoration: none'>&nbsp;</span></o:p></span></u></p> </td> </tr> <tr style='mso-yfti-irow:9'> <td width=756 colspan=3 valign=top style='width:567.0pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><u><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><a href="part.pdf">Participant List</a><o:p></o:p></span></u></p> </td> </tr> <tr style='mso-yfti-irow:10'> <td width=756 colspan=3 valign=top style='width:567.0pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><u><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><br> <br> <b style='mso-bidi-font-weight:normal'>Friday, July 10:<br style='mso-special-character: line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></b></span></u></p> </td> </tr> <tr style='mso-yfti-irow:11'> <td width=756 colspan=3 valign=top style='width:567.0pt;padding:.75pt .75pt .75pt .75pt'> <table class=MsoNormalTable border=0 cellpadding=0 width=625 style='width:468.75pt;mso-cellspacing:1.5pt;mso-yfti-tbllook:1184; mso-padding-alt:0in 5.4pt 0in 5.4pt'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=99 valign=top style='width:74.25pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>6:30 pm<o:p></o:p></span></p> </td> <td valign=top style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt;text-indent:15.75pt'><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Reception and Dinner - </span><span style='font-size: 11.0pt;font-family:"Arial","sans-serif"'>Grand Ballroom B</span><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'><br> <span style='mso-spacerun:yes'> </span><o:p></o:p></span></p> </td> </tr> </table> </td> </tr> <tr style='mso-yfti-irow:12'> <td width=756 colspan=3 valign=top style='width:567.0pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><b style='mso-bidi-font-weight:normal'><u><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Saturday, July 11:<br style='mso-special-character:line-break'> <![if !supportLineBreakNewLine]><br style='mso-special-character:line-break'> <![endif]><o:p></o:p></span></u></b></p> </td> </tr> <tr style='mso-yfti-irow:13'> <td width=126 valign=top style='width:94.3pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>8:30 am<o:p></o:p></span></p> </td> <td width=630 colspan=2 valign=top style='width:472.7pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif"'>Continental Breakfast</span><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:14'> <td width=126 valign=top style='width:94.3pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>9:00 am<o:p></o:p></span></p> </td> <td width=630 colspan=2 valign=top style='width:472.7pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Charles Jones, Stanford University and NBER<br> <span class=SpellE>Jihee</span> Kim, KAIST<br> <i><a href="Jones_Kim.pdf">A Schumpeterian Model of Top Income Inequality</a></i><br> <br> Discussant:<span style='mso-spacerun:yes'>  </span>Daron <span class=SpellE>Acemoglu</span>, Massachusetts Institute of Technology and NBER<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:15'> <td width=126 valign=top style='width:94.3pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>10:00 am<o:p></o:p></span></p> </td> <td width=630 colspan=2 valign=top style='width:472.7pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Break<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:16'> <td width=126 valign=top style='width:94.3pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>10:30 am<o:p></o:p></span></p> </td> <td width=630 colspan=2 valign=top style='width:472.7pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Gita <span class=SpellE>Gopinath</span>, Harvard University and NBER<br> <span class=SpellE>Sebnem</span> <span class=SpellE>Kalemli-Ozcan</span>, University of Maryland and NBER<br> <span class=SpellE>Loukas</span> <span class=SpellE>Karabarbounis</span>, </span><em><span style='font-size:11.0pt;font-family:"Arial","sans-serif";font-style:normal; mso-bidi-font-style:italic'>Federal Reserve Bank of Minneapolis</span></em><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'> and NBER<br> Carolina Villegas-Sanchez, ESADE-<span class=SpellE>Universitat</span> Ramon <span class=SpellE>Llull</span><br> </span><span style='font-size:11.0pt;font-family:"Arial","sans-serif"'><a href="https://www.dropbox.com/s/x3l3h5ihjgvfkno/Paper_LK_NBER_SI.pdf?dl=0"><i>Capital Allocation and Productivity in South Europe </i></a></span><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'><br> <br> Discussant:<span style='mso-spacerun:yes'>  </span>Peter <span class=SpellE>Klenow</span>, Stanford University and NBER<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:17'> <td width=126 valign=top style='width:94.3pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>11:30 am<o:p></o:p></span></p> </td> <td width=630 colspan=2 valign=top style='width:472.7pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Gary Gorton, Yale University and NBER<br> Guillermo Ordonez, University of Pennsylvania and NBER<br> <i><a href="../SI2015/EFGs15/Gorton_Ordonez.pdf">Good Booms, Bad Booms</a></i><br> <br> Discussant:<span style='mso-spacerun:yes'>  </span>Pablo <span class=SpellE>Kurlat</span>, Stanford University and NBER<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:18'> <td width=126 valign=top style='width:94.3pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>12:30 pm<o:p></o:p></span></p> </td> <td width=630 colspan=2 valign=top style='width:472.7pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Lunch - </span><span style='font-size:11.0pt;font-family:"Arial","sans-serif"'>Grand Ballroom B</span><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:19'> <td width=126 valign=top style='width:94.3pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>1:30 pm<o:p></o:p></span></p> </td> <td width=630 colspan=2 valign=top style='width:472.7pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Xavier <span class=SpellE>Giroud</span>, Massachusetts Institute of Technology and NBER<br> Holger Mueller, New York University and NBER<br> </span><span style='font-size:11.0pt;font-family:"Arial","sans-serif"'><a href="http://www.nber.org/confer/2015/SI2015/EFGs15/Giroud_Mueller.pdf"><i>Firm Leverage and Unemployment during the Great Recession </i></a></span><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'><br> <br> Discussant:<span style='mso-spacerun:yes'>  </span>Ali <span class=SpellE>Shourideh</span>, University of Pennsylvania<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:20'> <td width=126 valign=top style='width:94.3pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>2:30 pm<o:p></o:p></span></p> </td> <td width=630 colspan=2 valign=top style='width:472.7pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Break<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:21'> <td width=126 valign=top style='width:94.3pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>3:00 pm<o:p></o:p></span></p> </td> <td width=630 colspan=2 valign=top style='width:472.7pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Marcus <span class=SpellE>Hagedorn</span>, Institute for Advanced Studies <br> Jessie <span class=SpellE>Handbury</span>, University of Pennsylvania and NBER<br> <span class=SpellE>Iourii</span> <span class=SpellE>Manovskii</span>, University of Pennsylvania and NBER<br> <i><a href="HHM.pdf">Demand Stimulus, Inflation and Marginal Costs: Empirical Evidence</a></i><br> <br> Discussant:<span style='mso-spacerun:yes'>  </span>Mark <span class=SpellE>Bils</span>, University of Rochester and NBER<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:22'> <td width=126 valign=top style='width:94.3pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>4:00 pm<o:p></o:p></span></p> </td> <td width=630 colspan=2 valign=top style='width:472.7pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Martin <span class=SpellE>Beraja</span>, University of Chicago<br> Erik Hurst, University of Chicago and NBER<br> Juan <span class=SpellE>Ospina</span>, University of Chicago<br> </span><span style='font-size:11.0pt;font-family:"Arial","sans-serif"'><a href="http://www.nber.org/confer/2015/SI2015/EFGs15/Beraja_Hurst_Ospina.pdf"><i>The Aggregate Implications of Regional Business Cycles </i></a></span><span style='font-size:11.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'><br> <br> Discussant:<span style='mso-spacerun:yes'>  </span>Robert Hall, Stanford University and NBER<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:23;mso-yfti-lastrow:yes'> <td width=126 valign=top style='width:94.3pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'>5:00 pm<o:p></o:p></span></p> </td> <td width=630 colspan=2 valign=top style='width:472.7pt;padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-size:11.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Adjourn<o:p></o:p></span></p> </td> </tr> <![if !supportMisalignedColumns]> <tr height=0> <td width=126 style='border:none'></td> <td width=510 style='border:none'></td> <td width=120 style='border:none'></td> </tr> <![endif]> </table> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> </div> </body> </html>