Conference program
Macroeconomic Policies and Business Cycles
Co-sponsored with the Shanghai Advanced Institute of Finance, the Bank of Canada, Tsinghua University, and the Federal Reserve Bank of Atlanta.
Monday, March 24, 2014
09:10–10:00
High Discounts and High Unemployment
Bob Hall, Stanford University
Discussant: Andy Levin, IMF
10:00–10:50
International Liquidity and Exchange Rate Dynamics
Matteo Maggiori, New York University
Xavier Gabaix, New York University,NBER and CEPR
Discussant: Federico Mandelman, Atlanta Fed
11:10–12:00
Non-linear Effects of Taxation on Growth
Sergio Rebelo, Northwestern University
Nir Jaimovich, Duke University
Discussant: Wen Yao, Tsinghua University
12:00–12:50
Measuring Income and Wealth of Chinese Households
Gan Li, Texas A&M University and Southwestern University of Finance and Economics
Jijun Tan, Southwestern University of Finance and Economics
Discussant: Mark Kruger, Bank of Canada
Afternoon session
13:50–14:40
Valuation Risk and Asset Pricing
Marty Eichenbaum, Northwestern University
Rui Albuquerque, Boston University, Portuguese Catholic University
Sergio Rebelo, Northwestern University
Discussant: Jun Liu, SAIF, Shanghai Jiao Tong University
14:40–15:30
Optimal Time-Consistent Macroprudential Policy
Javier Bianchi, University of Wisconsin
Enrique G. Mendoza University of Pennsylvania
Discussant: Zheng Liu, San Francisco Fed and SAIF
15:50–17:50
Policy roundtable: Current challenges facing monetary policy
Dave Altig, Executive Vice President, Federal Reserve Bank of Atlanta
Jim Bullard, President, Federal Reserve Bank of St. Louis
Chun Chang, Executive Dean, SAIF (leading the discussion)
Charlie Evans, President, Federal Reserve Bank of Chicago
Tao Guan, Head, Balance of Payment Department, SAFE, People’s Bank of China
Haizhou Huang, Chief Strategist, China International Capital Corporation
John Murray, Deputy Governor, Bank of Canada
Tuesday, March 25, 2014
Morning session
09:00–09:50
The Safety Trap
Emmanuel Farhi, Harvard University
Ricardo J. Caballero, MIT
Discussant: Bing Li, Tsinghua University
09:50–10:40
On the Importance of Sales for Aggregate Price Flexibility
Oleksiy Kryvtsov, Bank of Canada
Nicolas Vincent , HEC Montr´eal
Discussant: Xue Qiao, Tsinghua University
11:00–11:50
The Great Housing Boom in China
Yi Wen, Federal Reserve Bank of St Louis and Tsinghua University
Kaiji Chen, Emory Universit
Discussant: Jun Qian, SAIF, Shanghai Jiao Tong University
11:50–12:40
Banks, Liquidity Management and Monetary Policy
Saki Bigio, Columbia University
Javier Bianchi, University of Winsconsin and NBER
Discussant: Yuan Xu, Tsinghua University
Afternoon session
13:50–14:40
Understanding the Great Recession
Lawrence Christiano, Northwestern University
Martin S. Eichenbaum, Northwestern University
Mathias Trabandt, Board of Governors of the Federal Reserve System
Discussant: Rhys Mendes, Bank of Canada
15:00–15:50
Trends and Cycles in China’s Macroeconomy: A Multivariate Approach
Tao Zha, Federal Reserve Bank of Atlanta, SAIF and Emory University
Chun Chang, SAIF, Shanghai Jiao Tong University
Daniel F. Waggoner, Federal Reserve Bank of Atlanta
Mei Zhu, Shanghai University of Finance and Economics
Discussant: Xiaodong Zhu, University of Toronto and SAIF
15:50–16:40
Good and Bad Uncertainty: Macroeconomic and Financial Market Implications
Amir Yaron, University of Pennsylvania
Gill Segal, University of Pennsylvania
Ivan Shaliastovich, University of Pennsylvania
Discussant: Kaiji Chen, Emory University