EURO AREA BUSINESS CYCLE NETWORK (EABCN)11th EABCN Workshop - After the Crisis: A New Agenda for Business Cycle Research
21-22 September 2009
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University of Amsterdam
Sponsored by NWO (The Netherlands Organisation for Scientific Research)
and the Euro Area Business Cyle Network
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Programme |
Monday 21 September |
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08.45-09.00 |
Registration and Lunch Introductory remarks |
Session 1 - Assessments of the Past |
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09.00-09.40 |
Monetary Policy Regimes and Economic Performance: The Historical Record 1979-2008 *Luca Benati (European Central Bank) Discussant: Mike Wickens (University of York and CEPR) |
09.40-10.20 |
Equilibrium Credit Spreads and the Macroeconomy João Gomes (University of Pennsylvania) Discussant: Mathias Trabandt (European Central Bank) |
10.20-11.00 |
Letting Different Views of the Business Cycle Compete *Paul Beaudry (University of Oxford) Discussant: Vasco Carvalho (CREI) |
11.00-11.30 |
Coffee Break |
Session 2 - Monetary Policy |
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11.30-12.10 |
Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound *Andrew Levin (Federal Reserve Board and CEPR) Discussant: Klaus Adam (University of Mannheim and CEPR) |
12.10-12.50 |
Monetary Policy and the Financing of Firms Fiorella de Fiore (European Central Bank) Discussant: Kevin Sheedy (London School of Economics) |
12.50-13.30 |
Regulatory Competition and Bank Risk Taking Itai Agur (European University Institute and de Nederlandsche Bank) Discussant: Christian Stoltenberg (University of Amsterdam) |
13.30-15.00 |
Lunch |
Session 3 - Fiscal Policy |
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15.00-15.40 |
New Keynesian versus Old Keynesian Government Spending Multipliers John Cogan (The Hoover Institution) Discussant: Harris Dellas (University of Bern and CEPR) |
15.40-16.20 |
Monetary-Fiscal Policy Interactions and Fiscal Stimulus Troy Davig (Federal Reserve Bank of Kansas City) Discussant: Florin Bilbiie (HEC Paris and CEPR) |
16.20-17.00 |
Fiscal Policy, Wealth Effects and Markups Tommaso Monacelli (Università Bocconi and CEPR) Discussant: Gernot Müller (University of Bonn) |
19.30 |
Conference Dinner |
Tuesday 22 September |
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Session 4 - Interaction Between Financial Markets and Real Activity |
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09.00-09.40 |
The Unconventional U.S. Monetary Policy of 2008-9 Ricardo Reis (Columbia University and CEPR) Discussant: Adam Posen (Bank of England - Monetary Policy Committee) |
09.40-10.20 |
Financial Integration, Liquidity and the Depth of Systemic Crises *Fabio Castiglionesi (Tilburg University) Discussant: Enrico Perotti (University of Amsterdam and CEPR) |
10.20-11.00 |
Monetary Policy and Herd Behaviour in New-Tech Investment Olivier Loisel (Banque de France) Discussant: Chryssi Giannitsarou (University of Cambridge and CEPR) Coffee Break |
Session 5 - Panel – Research Implications of the Great Recession |
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11.00-11.30 |
Panellists: Thomas Cooley, Dean of the Stern School of Business of New York University |
13:00-14:30 |
Lunch |
Session 6 - Matching Frictions |
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14.00-14.40 |
An Incentive Theory of Matching Alessio Brown (The Kiel Institute for the World Economy) Discussant: Pieter Gautier (Free University Amsterdam and CEPR) |
14.40-15.20 |
Confidence Crashes and Animal Spirits Roger Farmer (University of California, Los Angeles and CEPR) Discussant: Martin Ellison (Oxford University) |
15.20-15.40 |
Coffee Break |
Session 6 - Information |
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15.40-16.20 |
Information, Heterogeneity and Market Incompleteness Liam Graham (University College London) Discussant: Bartosz Mackowiak (European Central Bank and CEPR) |
16.20-17.00 |
Asset Price Bubbles and Crashes Klaus Adam (Mannheim University and CEPR)
*Albert Marcet (London School of Economics and CEPR)
Discussant: Kristoffer Nimark (CREI) |
17.00 |
End of Conference |
* Indicates the presenter.
Speakers have 20 minutes for the presentations, leaving 10 minutes for the designated discussants and 10 minutes for general discussion.
Organizers:
Wouter den Haan (University of Amsterdam and CEPR)
Andrew Scott (London Business School and CEPR)