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Conference Program
Friday, March 21, 2014
7:45 a.m.
Registration and Continental Breakfast
8:45 a.m.
Welcoming Remarks
Steven Kamin, Director, Division of International Finance
Session I
9:00 a.m.
A Theory of Macroprudential Policies in the Presence of Nominal Rigidities
Emmanuel Farhi (Harvard) and Ivan Werning (MIT)
Discussant: Olivier Jeanne (Johns Hopkins)
10:00 a.m.
Credit Spreads and Credit Policies
Isabel Correia (Banco de Portugal), Fiorella de Fiore (ECB), Pedro Teles (Banco de Portugal) and Oreste Tristani* (ECB)
Discussant: Albert Queralto (FRB)
11:10 a.m.
Coffee Break
11:30 a.m.
Coordination and Crisis in a Monetary Union
Mark Aguiar (Princeton), Manuel Amador (Minneapolis Fed), Emmanuel Farhi (Harvard) and Gita Gopinath* (Harvard)
Discussant: Tomasso Monacelli (Bocconi and Columbia)
12:30 p.m.
Buffet Lunch
Session II
2:00 p.m.
Bank Leverage Cycles: PDF | Accessible Version (.zip)
Galo Nuño* (ECB) and Carlos Thomas (Banco de España)
Discussant: Luc Laeven (IMF)
3:00 p.m.
Banks, Liquidity Management, and Monetary Policy: PDF | Accessible Version (.zip)
Javier Bianchi* (University of Wisconsin) and Saki Bigio (Columbia)
Discussant: Peter Karadi (ECB)
4:00 p.m.
Coffee Break
4:30 p.m.
Panel Discussion – Transitional and Longer-Term Challenges for Monetary Policy
Moderator: David Wilcox, Director, Division of Research and Statistics
Stephen Cecchetti (Brandeis University)
Spencer Dale (Chief Economist and MPC member, Bank of England)
Narayana Kocherlakota (President, Federal Reserve Bank of Minneapolis)
Lars Svensson (Stockholm University)
6:30 p.m.
Dinner and Keynote Speech
Jeremy Stein, Governor, Federal Reserve Board
Saturday, March 22, 2014
7:45 a.m.
Registration and Continental Breakfast
Session III
9:00 a.m.
Reallocation in the Great Recession: Cleansing or Not?
Lucia Foster (U.S. Census Bureau), Cheryl Grim (U.S. Census Bureau) and John Haltiwanger* (University of Maryland)
Discussant: Andrew Figura (FRB)
10:00 a.m.
Slow Recoveries, Worker Heterogeneity, and the Zero Lower Bound
Federico Ravenna* (HEC Montreal) and Carl Walsh (UC Santa Cruz)
Discussant: Keith Kuester (University of Bonn)
11:00 a.m.
Coffee Break
11:30 a.m.
Inflation Dynamics During the Financial Crisis
Simon Gilchrist (Boston University), Raphael Schoenle (Brandeis University), Jae Sim (FRB), and Egon Zakrajšek (FRB)
Discussant: Marc Giannoni (New York Fed)
12:30 p.m.
Lunch and Keynote Speech
Vítor Constâncio, Vice President of the ECB
Session IV
1:45 p.m.
When Does a Central Bank Balance Sheet Require Fiscal Support?
Marco Del Negro* (New York Fed) and Christopher Sims (Princeton)
Discussant: Behzad Diba (Georgetown)
2:45 p.m.
Booms and Banking Crises: PDF | Accessible Version (.zip)
Frédéric Boissay (ECB), Fabrice Collard (University of Bern), and Frank Smets* (ECB)
Discussant: Nobuhiro Kiyotaki (Princeton)
3:45 p.m.
Adjourn
* Presenter Return to text
