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Program
Friday, March 16, 2012
8:15 a.m.
Registration and Coffee
8:55 a.m.
Opening Remarks
Session I – Financial Crises: Causes and Consequences
9:00 a.m.
Inattention to Rare Events
Bartosz Mackowiak* (ECB) and Mirko Wiederholt (Northwestern University)
Discussant: Kristoffer Nimark (CREI)
10:00 a.m.
Welcome Address
Mario Draghi, President of the ECB
10:15 a.m.
Household Leverage and the Recession
Virgiliu Midrigan (New York University) and Thomas Philippon* (New York University)
Discussant: Valery Polkovnichenko (FRB)
11:15 a.m.
Coffee
11:45 a.m.
When Credit Bites Back: Leverage, Business Cycles, and Crises
Òscar Jordà (San Francisco Fed), Moritz Schularick (Freie Universität Berlin) and Alan M. Taylor* (University of Virginia)
Discussant: Marcel Fratzscher (ECB)
Session II – Macro-prudential Policies
2:00 p.m.
Financial Capital and the Macroeconomy: Policy Considerations
Michael T. Kiley (FRB) and Jae W. Sim* (FRB)
Discussant: Kalin Nikolov (ECB)
3:00 p.m.
Macro-prudential Policy in a Fisherian Model of Financial Innovation
Javier Bianchi (University of Wisconsin), Emine Boz (IMF) and Enrique Mendoza* (University of Maryland)
Discussant: Paolo Pesenti (New York Fed)
4:00 p.m.
Coffee
4:30 p.m.
Panel Discussion – Monetary and Fiscal Policy Interactions in an Era of High Debt
Alberto Alesina, Harvard University
Stefan Gerlach, Central Bank of Ireland (moderator)
Otmar Issing, CFS
José Viñals, IMF
7:30 p.m.
Dinner
8:00 p.m.
Keynote Speech
Charles Evans, President of the Federal Reserve Bank of Chicago
Saturday, March 17, 2012
Session III – Fiscal Sustainability
8:45 a.m.
Registration and Coffee
9:00 a.m.
How Do Laffer Curves Differ Across Countries?
Mathias Trabandt* (FRB) and Harald Uhlig (University of Chicago)
Discussant: Roel Beetsma (University of Amsterdam)
10:00 a.m.
Sovereign Risk and the Effects of Fiscal Retrenchment in Deep Recessions
Giancarlo Corsetti* (University of Cambridge), André Meier (IMF) and Gernot Müller (University of Bonn)
Discussant: Tommaso Monacelli (Bocconi)
11:00 a.m.
Coffee
11:30 a.m.
The Dynamics of Sovereign Debt Crises and Bailouts
Francisco Roch (University of Chicago) and Harald Uhlig* (University of Chicago)
Discussant: Russell Cooper (EUI)
12:30 p.m.
Lunch
Session IV – The Conduct of Monetary Policy
1:30 p.m.
Managing a Liquidity Trap: Monetary and Fiscal Policy
Iván Werning (MIT)
Discussant: Pedro Teles (Banco de Portugal)
2:30 p.m.
Monetary Policy and Rational Asset Price Bubbles
Jordi Galí (CREI)
Discussant: William A. Branch (University of California, Irvine)
3:30 p.m.
End of Conference
* Presenter Return to text
