Seminars (April 2022-Nov 2023)

I have given the following presentations over the last 18 months.

• “Doit-on avoir peur de la dette publique“, Université de tous les savoirs, Villefranche-de-Rouergue, 19 April 2022
• “Monetary Policy when the Phillips Curve is Quite Flat” (with Paul Beaudry and Chenyu Hou), conference “Recent Advances in Macroeconomics and Financial Markets”, Peking University HSBC Business School, UK Campus (Oxford), 30-31 May 2022
• “Macroeconomic Analysis with Weak Complementarities“, conference “More Is Different”, Collège de France. 2-3 June 2022
• “Dynamic Identification in VARs” (with Paul Beaudry, Fabrice Collard, Patrick Fève and Alain Guay), Barcelona Summer Forum. 14-17 June 2022
• “Monetary Policy when the Phillips Curve is Quite Flat” (with Paul Beaudry and Chenyu Hou), 6th BdF-AMSE workshop on Macroeconomics, Marseille, 24 June 2022
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), Uppsala University, 6 October 2022
• “Monetary Policy when the Phillips Curve is Quite Flat” (with Paul Beaudry and Chenyu Hou), Bank of Sweden, 7 October 2022
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), Conférence pour les 30 ans du GAINS, Le Mans, 29-30 November 2022
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), University of York, 26 April 2023
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), HEC Paris, 9 May 2023
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), Banque de France, Paris, 16 May 2023
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), Barcelona Summer Forum, 7-9 June 2023
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), University of Turku, 13 June 2023
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), University of Durham, 22 June 2023
• “Dynamic Cooper & John [1988] Economies” (with Paul Beaudry and Dana Galizia), University of Surrey, 26 June 2023
• Discussion of “”Safe asset demand and the maturity structure of debt” by Julia Schmidt, Olivier Sirello and Miklos Vari, 7th BdF-AMSE workshop on Macroeconomics, Marseille, 7 July 2023
• “The Macroeconomics of Complementarities“, EABCN Training School, Brussels, 4-6 September 2023
• Discussion of “Can Deficits Finance Themselves?” by George-Marios Angeletos, Chen Lian and Christian K. Wolf, Hydra conference, Taormina, 28-29 September 2023
• “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (with Paul Beaudry and Andrew Preston), Statistics Norway, 7 November 2023
• “The Dominant Role of Expectations and Broad-Based Supply Shocks in Driving Inflation” (with Paul Beaudry and Chenyu Hou), National University of Singapore, 21 November 2023

Academic life at the time of Covid-19

To paraphrase Gabriel García Márquez, this is what I have done during the 2020-2021 academic year. Besides the teaching and the UCL seminars I did the following:

• November 22, 2020: I gave a distant seminar at University of Michigan. I presented “Monetary Policy when the Phillips Curve is Quite Flat” (co-authored with Paul Beaudry and Chenyu Hou).
• I was appointed Managing Editor of the Economy Journal.
• I was appointed chair of the “comité d’évaluation scientifique” of the “Observatoire Français des Conjonctures Économiques (OFCE)June 14-15, 2021: I attended the “Advances in Structural Shocks Identification” Barcelona workshop.
• I presented “Dynamic Identification in VARs” (co-authored with Paul Beaudry, Fabrice Collard, Patrick Fève and Alain Guay)
• June 18, 2021: I organised with Moritz Kuhn the first LonBonn Macro Workshop (UCL & Bonn)
• August 26-27, 2021: I attended the Salento Macro Workshop. I presented “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (co-authored with Paul Beaudry and Andy Preston)
• September 20, 2021: I attended the Hydra workshop in Rhodes, and presented “Does it Matter to Assume that U.S. Monetary Authorities Follow a Taylor Rule?” (co-authored with Paul Beaudry and Andy Preston)
• October 21-22, 2021: I gave a keynote speech that the annual conference of the TEPP federation in Evry (Travail, Emploi et Politiques Publiques). The title of the talk was “What do we really know about the sources of macroeconomic fluctuations?” and the slides can be found here.
• December 16-17, 2021,: I gave a keynote speech at the New Directions for Inflation Forecasting workshop, Paris, organised by Frédérique Bec (Cergy Paris University), Dick van Dijk (Erasmus University Rotterdam) and Laurent Ferrara (Skema Business School, Paris). The title of the talk was “Non Inflationary Business Cycles” and the slides can be found here.

2019 Hydra Workshop on Dynamic Macroeconomics – Palma de Mallorca, Spain, 27 –28 October, 2019

Harris Dellas has organized a new edition of a great series of conferences (named after the original location, the island of Hydra near Athens in Greece). I have been lucky to be invited again to discuss a paper of V. V. Chari, Juan Pablo Nicolini & Pedro Teles entitled “Optimal Cooperative Taxation in the Global Economy” (see the discussion page).

Here is the program of the workshop:

1. Information Acquisition, Efficiency, and Non-Fundamental Volatility , Benjamin Hebert (Stanford), Jennifer La’O (Columbia)
2. Managing Expectations: Instruments vs Targets, George-Marios Angeletos (MIT), Karthik Sastry (MIT)
3. Collateral Booms and Information Depletion, Vladimir Asriyan (CREI), Luc Laeven (ECB), Alberto Martin (CREI, ECB)
4. Intangibles, Inequality and Stagnation, Nobu Kiyotaki (Princeton), Shengxing Zhang (LSE)
5. Optimal Cooperative Taxation in the Global Economy, Varadarajan Chari (Minnesota), Juan Pablo Nicolini (FRB Minnesota), Pedro Teles (Bank of Portugal, Cattolica)
6. Networks, Barriers, and Trade, David Baqaee (LSE), Emmanuel Fahri (Harvard)
7. Wealth, Wages, and Employment, Per Krusell (IIES), Jinfeng Luo (Penn José-Víctor Ríos-Rull (Penn)

XXIV Workshop on Dynamic Macroeconomics, July 9, 10, 11 , 2019, Pazo de Soutomaior, Vigo, Spain

 With a group of good friends, (Tim Kehoe (University of Minnesota), Árpád Ábráhám (European University Institute), Jaime Alonso-Carrera (Universidade de Vigo), Juan Carlos Conesa (Universitat Autònoma de Barcelona), Antonia Díaz (Universidad Carlos III de Madrid), Omar Licandro (Instituto del Análisis Económico-CSIC) and J. Víctor Ríos-Rull (University of Minnesota)), I have organized the XXIVth edition of the Vigo Workshop on Dynamic Macroeconomics.  (Jaime is  the real organiser of the workshop). 

The workshop takes place in a fantastic location. It is the perfect combination of good economics (a lot of) and fun (a lot of). Presentation are done by PhD students.

As far as economics is conerned, here wass the program:

Tuesday, 9 July
 
10:00-11:00:  Vladimir Smirnyagin (University of Minnesota), “Uncertainty driven entry and exit over the business cycle.”
 
11:00-12:00:  Andrey Alexandrov (University of Mannheim), “Trends and business cycle asymmetry.”
 
12:30-13:30:  Nicholas Pretnar (Carnegie Mellon University), “The costs and benefits of caring: Aggregate burdens of an aging population.”
 
13:30-14:30:  Diana Van Patten Rivera (University of California, Los Angeles), “International diffusion of technology: Accounting for heterogeneous learning abilities.”
 
16:00-17:00:  Agustín Samano Peñaloza (University of Minnesota), “International reserves and central bank independence.”
 
17:00-18:00:  Oliko Vardishvili (European University Institute), “The macroeconomic cost of college dropouts.”
  
Wednesday, 10 July

10:00-11:00:  Ismael Gálvez Iniesta (Universidad Carlos III de Madrid), “The role of immigration in a deep recession: The case of Spain.”

11:30-12:30:  Ana Moreno Maldonado (European University Institute), “Mums and the city: Female labour force participation and city size.”
 
12:30-13:30:  Francisco Javier Rodríguez Román (Universidad Carlos III de Madrid), “The sex ratio, marital sorting and labor supply: A Chinese story.”
 
 
Thursday, 11 July

9:30-10:30:  Patrick Donnolley Moran (University of Oxford), “Temptation and Commitment: Understanding the Demand for Illiquidity.”

10:30-11:30:  Christian Hoynck (Universitat Pompeu Fabra), “Assessing the network effects of monetary policy.”

12:00-13:00:  Timo Reinelt (University of Mannheim), “The misallocation channel of monetary policy.”
 
13:00-14:00:  Sergio Feijoo Moreira (Universidad Carlos III de Madrid), “Inside the decline of the labor share: Bringing the tales together.”

Post-Crisis Macroeconomics Workshop, University of Edinburgh, Tuesday 17th October, 2017

I am attending the Post-Crisis Macroeconomics Workshop organized at University of Edinburgh on Tuesday 17th October, 2017. I will present some new work with Paul Beaudry “Real Keynesian Models and Sticky Prices”

According to the MacCaLM page of the workshop,

On Tuesday 17th October the project will host a Post-Crisis Marcoeconomics Workshop in Edinburgh. We welcome speakers:

• Paul Beaudry (University of Oxford) ‘The Business Cycle and the Financial Cycle: Properties and Links’
• David Romer (University of California, Berkeley) ‘New Evidence of the Aftermath of Financial Crises in Advanced Countries’
• Franck Portier (UCL) ‘Real Keynesian Models and Sticky prices’
• John Moore (University of Edinburgh & LSE) ‘Leverage Stacks and the Financial System’

MacCaLM has teamed up the David Hume Institute to host a public lecture in the evening with Christina Romer presenting her paper ‘Why Some Times Really Are Different: Macroeconomic Policy and the Aftermath of Financial Crises’.

Reserve Bank of Australia Quantitative Macroeconomic Workshop, December 19-20 2016, Sydney

 I am attending the Reserve Bank of Australia Quantitative Macroeconomic Workshop in Sydney. I will present my joint work with Paul Beaudry and Dana Galizia,: “Putting the Cycle Back into Business Cycle Analysis“.

The program the workshop is:

Monday 19 December 2016

08:55 – 09:00 Welcome John Simon, Reserve Bank of Australia

09:15 – 10:15 Session One Chair: John Simon, Reserve Bank of Australia

Presenter Thomas Winberry, Chicago Booth

Efficient Computation of Heterogeneus Agent Models with Aggregate Shocks with an Application to Consumption Dynamics

Discussant John Stachurski, Australian National University

10:15 – 10:30 Morning Break

10:30 – 12:30 Session Two Chair: Luci Ellis, Reserve Bank of Australia

10:30 – 11:30 Presenter Franck Portier, Toulouse School of Economics

Putting the Cycle Back into Business Cycle Analysis and Is the Macroeconomy Locally Unstable and Why Should We Care?

Discussant Chris Gibbs, University of New South Wales

11:30 – 12:30 Presenter Neil Mehrotra, Brown University

A Model of Secular Stagnation: Theory and Quantitative Evaluation

Discussant Ed Nelson, University of Sydney

12:30 – 14:00 Lunch Level 5 Dining Room

14:00 – 15:00 Session Three Chair: Anthony Brassil, Reserve Bank of Australia

Presenter Patricia Gomez-Gonzalez, Fordham University

Same Spain, Less Pain

Discussant Ippei Fujiwara, Keio University

15:00 – 15:15 Afternoon Break

15:15 – 16:15 Session Four Chair: Bruce Preston, Reserve Bank of Australia

Keynote Presenter Martin Eichenbaum, Northwestern University

Monetary Policy and the Predictability of Nominal Exchange Rates

Tuesday 20 December 2016

09:15 – 10:15 Session Five Chair: Daniel Rees, Reserve Bank of Australia

Presenter Linda Tesar, University of Michigan

Austerity in the Aftermath of the Great Recession

Discussant Efrem Castelnuovo, University of Melbourne

10:15 – 10:30 Morning Break

10:30 – 12:30 Session Six Chair: Greg Kaplan, University of Chicago

10:30 – 11:30 Presenter Inui Masayuki, Bank of Japan

The Power of Unconventional Monetary Policy in a Liquidity Trap

Discussant Bruce Preston, University of Melbourne

11:30 – 12:30 Presenter Alisdair McKay, Boston University

Optimal Automatic Stabilizers

Discussant Mei Dong, University of Melbourne

12:30 – 13:30 Lunch Level 5 Dining Room

14:00 – 15:00 Session Seven Chair: Adam Cagliarini, Reserve Bank of Australia

Presenter John Romalis, University of Sydney

Tariff Reductions, Entry, and Welfare: Theory and Evidence for the Last Two Decades

Discussant Mark Razhev, University of Melbourne

15:00 – 16:00 Session Eight Chair: Adam Cagliarini, Reserve Bank of Australia

Keynote Presenter Jonathan Parker, MIT

Accelerator or Brake? Cash for Clunkers, Household Liquidity, and Aggregate Demand

16:00 – 16:10 Closing remarks Adam Cagliarini, Reserve Bank of Australia

University of Melbourne – Toulouse School of Economics Workshop, December 15-16 2016, Melbourne

 I am attending the first University of Melbourne – Toulouse School of Economics workshop in Melbourne. I will present my joint work with Paul Beaudry and Dana Galizia,: “Putting the Cycle Back into Business Cycle Analysis“.

The program the workshop is:

Thursday December 15

9.00 – 9.15am Welcome: Nilss Olekalns

President (elect) University’s Academic Board

9.15 – 10.45am Session 1

Frédérique Feve

Demand models with geolocalized explanatory variables

Leslie Martin

I’m Sitting This One Out: What non-participants reveal about counterfactual emissions

Chair: Kevin Staub

10.45 – 11.15am Morning Tea Break

11.15 – 12.45pm Session 2

Shruti Sinha

Identification and Estimation in One-to-One Matching Model with Nonparametric Unobservables

David Delacretaz (Melbourne PhD Student)

Refugee Resettlement

Chair: Leslie Martin

12.45 – 2.15pm Lunch @ Middle Fish

122-128 Berkeley St, Carlton VIC 3053

2.15 – 3.45pm Session 3

Franck Portier

Putting the Cycle Back into Business Cycle Analysis

Matthew Greenwood-Nimmo

What’s Mine is Yours: Sovereign Risk Transmission during the European Debt Crisis

Chair: Bruce Preston

3.45 – 4.15pm Afternoon Tea Break

4.15 – 5.00pm Session 4

Patrick Rey

On multilateral vertical relations

Chair: Nisvan Erkal

6.00pm Dinner: Woodward Conference Centre

Level 10, Melbourne Law School, 185 Pelham St, Carlton

 

Friday December 16

9.00 – 10.30am Session 1

Ivan Balbuzanov

Endowments, Exclusion, and Exchange

Bruno Jullien

Privacy Protection

Chair: Steve Williams

10.30 – 11.00am Morning Tea Break

11.00 – 12.30pm Session 2

Tom Wilkening

Getting Implementation to Work:  Theory and Experiments

Simon Fuchs (TSE PhD Student)

Trade-induced Structural Change in a Spatial Framework. Evidence from two Natural Experiments in Spain during the first World War

Chair: Mark Razhev

12.30-2.00pm Lunch

2.00 – 3.30pm Session 3

Tomasz Woźniak

Assessing Monetary Policy Models: Bayesian Inference for Heteroskedastic Structural VARs

Patrick Feve

Persistent Government Spending and Fiscal Multipliers: the Investment-Channel

Chair: Kalvinder Shields

3.30 – 4.00pm Afternoon Tea Break

4.00 – 4.45pm Session 4

Chris Edmond

Industry Dynamics with Variable Markups

Chair: Phil McCalman

 

XXth Workshop on Dynamic Macroeconomics, June 30 and July 1-2, 2015, Pazo de Soutomaior, Vigo, Spain

 With a group of good friends, (Tim Kehoe (University of Minnesota), Jaime Alonso-Carrera (Universidade de Vigo), Juan Carlos Conesa (Universitat Autònoma de Barcelona), José Maria Da-Rocha (Universidade de Vigo), Antonia Díaz (Universidad Carlos III de Madrid), Omar Licandro (Instituto del Análisis Económico-CSIC) and J. Víctor Ríos-Rull (University of Minnesota)), I have organized the XXth edition of the Vigo Workshop on Dynamic Macroeconomics.

The workshop takes place in a fantastic location. It is the perfect combination of good economics (a lot of) and fun (a lot of). Presentation are done by PhD students.

As far as economics is conerned, here is the program:

TUESDAY, 30 JUNE 

10:00-11:00:  Radek Paluszynski, University of Minnesota, “International Bailouts and Sovereign Default Risk.” [PDF]

11:00-12:00:  Christoph Große Steffen, German Institute for Economic Research, “Uncertainty Shocks and Self-fulfilling Debt Crises: An Ambiguity Approach.” [PDF]

12:00-12:30 break 

12:30-14:30: Anil Ari, University of Camdbrige, “Sovereign Risk and Bank Risk.” [PDF]

13:30-14:30:  Dominik Thaler, European University Institute, “Monetary Policy Effectson Bank Risk Taking.” [PDF]

14:30-16:00:  lunch

16:00-17:00:  Stefanie Huber, Universidad Pompeu Fabra, “Preference for HousingServices and Rational House Price Bubbles.” [PDF]

17:00-18:00:  Lan Lan, Toulouse School of Economics, “Understanding the SavingBehavior of Chinese Households: Intergenerational Transfer and Housing.” [PDF]

18:00-18:30:  break 

18:30-19:30:  Noëmie Lisack, European University Institute, “Alternative Finance and Firms’ Development: The Case of China.” [PDF]

WEDNESDAY, 1 JULY

9:30-10:30:  Salvatore Lo Bello, Universidad Carlos III Madrid, “Structural Change and Growth: The Role of Income Distribution.” [PDF]

10:30-11:30:  Bettina Brüggemann, Goethe University Frankfurt, “Higher Taxes at theTop: The Role of Entrepreneurs.” [PDF]

11:30-12:00:  break 

12:00-13:00:  Pavel Brendler, European University Institute, “Life-Time EarningsInequality and Within-Cohort Redistribution through Social Security in the U.S.” [PDF]

13:00-14:00:  Yingnan Zhao, University of Zurich, “Bank Lending and Firm Dynamics in General Equilibrium.” [PDF]

14:00:  lunch 

THURSDAY, 2 JULY

9:30-10:30:   Florian Exler, University of Mannheim, “Personal Bankruptcy and WageGarnishment.” [PDF]

10:30-11:30:  Iacopo Morchio, Universidad Carlos III Madrid, “Information Frictions, Match Quality, and Lifetime Unemployment.” [PDF]

11:30-12:00:  break 

12:00-13:00:  Jose Rodolfo Morales, Universidad de Murcia, “An Economic GeographyModel with Natural Resources.” [PDF]

13:00-14:00: Paweł Doligalski, European University Institute, “Optimal Redistributionwith a Shadow Economy.” [PDF]

14:00:  lunch

Canadian Macroeconomics Study Group, 28th Annual Meeting, McMaster University, November 7th and 8th, 2014

I have attended this week-end the 28th Annual Meeting of the Canadian Macroeconomics Study Group at McMaster University, Ontario, Canada. My coauthor Dana Galicia presented our joint work (with Paul Beaudry)  “Reconciling Hayek’s and Keynes’ Views of Recessions“.

I also discussed a interesting paper on the allocation of time in the U.S. and in France, written by Georg Duernecker (Mannheim) and Berthold Herrendorf (Arizona State University), “On the Allocation of Time“. You can find the paper on the webpage of Georg Duernecker and my discussion in the Discussions page of this website. 

Below is the full program of the CMSG.

Friday, November 7, 2014

Session 1: (Chair: Pau Pujolas)

9:00 – 9:45
Julien Bengui (Montréal) and Javier Bianchi (Wisconsin-Madison)
Capital Flow Management when Capital Controls Leak
Discussant: Yan Bai (Rochester)
9:45 – 10:30
Jacek Rothert (U.S. Naval Academy) and Jacob Short (UWO)
Non-Traded Goods and Capital Flows to Developing Countries
Discussant: Kevin Donovan (Notre-Dame)

Session 2: (Chair: Svetlana Demidova)

11:00 – 11:45
George Alessandria (Rochester), Horag Choi (Monash), and Kim Ruhl (NYU)
Trade Adjustment Dynamics and the Welfare Gains from Trade
Discussant: Joseph Steinberg (Toronto)
11:45 – 12:30
Kim Ruhl (NYU)
The Aggregate Impact of Antidumping Policies
Discussant: Wyatt Brooks (Notre Dame)

Session 3: Keynote Speaker (Introduction by Cesar Sosa-Padilla)

1:30 – 2:30
Enrique G. Mendoza (UPenn)
Optimal Domestic Sovereign Default (joint with Pablo N. D’Erasmo)

Session 4: (Chair: Marc-Andre Letendre)

2:45 – 3:30
Shouyong Shi (Penn State) and Christine Tewfik (Toronto)
Financial Frictions, Investment Delay and Asset Market Interventions
Discussant: Leonardo Martinez (IMF)
3:30 – 4:15
Antonio Doblas-Madrid (Michigan State) and Kevin Lansing (FRB San Francisco)
Credit-Fuelled Bubbles
Discussant: Huw Lloyd-Ellis (Queen’s)

Session 5: (Chair: Cesar Sosa-Padilla)

4:45 – 5:30
Daphne Chen (Florida State), Fatih Guvenen (Minessota), Gueorgui Kambourov (Toronto), and Burhan Kuruscu (Toronto)
Use It or Lose It: Efficiency Gains from Wealth Taxation
Discussant: Martin Gervais (Iowa)

5:30 – 7:00 Conference Reception. The Jean and Ross Fischer Gallery at the Art Gallery of Hamilton

Saturday, November 8, 2014.

Session 6: (Chair: Alok Johri)

9:00 – 9:45
Paul Beaudry (UBC), Dana Galizia (UBC) and Franck Portier (TSE)
Reconciling Hayek’s and Keynes’ Views of Recessions
Discussant: Hashmat Khan (Carleton)
9:45 – 10:30
Georg Duernecker (Mannheim) and Berthold Herrendorf (ASU)
On the Allocation of Time
Discussant: Franck Portier (TSE)

Session 7: (Chair: Shintaro Yamaguchi)

11:00 – 11:45
Matias Cortes (Manchester), Nir Jaimovich (Duke), Christopher Nekarda (FRB Board of Governors), and Henry Siu (UBC)
The Micro and Macro of Disappearing Routin Jobs: A Flows Approach
Discussant: Gueorgui Kambourov (Toronto)
11:45 – 12:30
Avihai Lifschitz (Tel Aviv), Ofer Setty (Tel Aviv) and Yaniv Yadid-Levi (UBC)
Who Cares about Unemployment Insurance?
Discussant: Aspen Gorry (Utah State)

Session 8: Bank of Canada Session (Chair: William Scarth)

1:30 – 2:15
Jinill Kim (Korea U.) and Francisco Ruge-Murcia (McGill)
Extreme Events and the Fed
Discussant: Allen Head (Queen’s)
2:15 – 3:00
Michael Plante (FRB Dallas), Alexander Richter (Auburn) and Nathaniel Throckmorton (Indiana)
The Zero Lower Bound and Endogenous Uncertainty
Discussant: Fernando Martin (FRB St. Louis)

Session 9: (Chair: Pau Pujolas)

3:30 – 4:15
Brant Abbot (Yale) and Giovanni Gallipolli (UBC)Skill Complementarity and the Geography of Intergenerational Mobility Discussant: Baris Kaymak (Montréal)

4:15 – 5:00
Ezra Oberfield (Princeton) and Devesh Raval (Federal Trade Commision)
Micro Data and Macro Technology
Discussant: Julieta Caunedo (Cornell)

 

12th Hydra Workshop on Dynamic Macroeconomics – Palma de Mallorca, Spain, 3 –4 October, 2014

Harris Dellas organize this great series of conferences (named after the original location, the island of Hydra near Athens in Greece). TSE is a sponsor of the workshop and I co-orgaznized the 2014 edition. I discussed Krusell and Smith’s Global Warminf paper (see the discussion page)

Here is the program of the workshop:

Learning from Market Share when Consumers are Rationally Inattentive (download), Andrew Caplin (NYU), John Leahy* (NYU) and Filip Matějka (Charles University)

Macroeconomics and Global Climate Change: Transition for a Many-Region Economy, Per Krusell* (IIES, Stockholm University) and A. Smith (Yale University)

Austerity (download),Harris Dellas (University of Bern), Dirk Niepelt* (SZG, University of Bern)

Debt Maturity (download) ,Mark Aguiar (Princeton University)

Sovereign Default: The Role of Expectations (download),Gaston Navarro, Juan Pablo Nicolini, Pedro Teles* (Bank of Portugal, Universita Cattolica)

Social Insurance, Information Revelation, and Lack of Commitment (download),Mikhail Golosov (Princeton University) and Luigi Iovino (Bocconi)

Risk-Taking, Rent-Seeking, and Investment when Financial Markets are Noisy (download),Elias Albagli (USC), Christian Hellwig* (Toulouse University),   Aleh Tsyvinski (Yale University)

Precautionary saving and aggregate demand (download), Edward Challe (CNRS, Ecole Polytechnique, BdFR), Julien Matheron (Banque de France), Xavier Ragot (CNRS, PSE)  Juan Rubio Ramirez (Duke University)

6th Joint French Macro Workshop –June 5, 2014, Paris

Pierre-Olivier Weil  (PSE) and my colleague Christian Hellwig from TSE organized the  7th Joint French Macro Workshop. The workshop was (almost)  as usual held in the Banque de France.

This series of workshop is jointly organized by CREST/Polytechnique, the Paris School of Economics, SciencesPo and the Toulouse School of Economics; with the financial and logistic support of the Fondation Banque de France pour la recherche en économie.

Roger Guesnerie was this edition keynote speaker.

The (again exciting) program was:

• David Hémous (INSEAD and CEPR) “The rise of the machines: automation, horizontal innovation and income inequality” (with Morten Olse, IESE)
• Julia Schmidt (Banque de France) « Technological standardization, endogeneous productivity and transitory dynamics » (with Justus Baron, Northwestern U.)
• Michael Weber (Haas School of Business, University of California at Berkeley) “Nominal rigidities and asset pricing”
• Keynote paper. Thomas Philippon (New York University) “Inspecting the mechanism : leverage and the great recession in Europe” (with Philippe Martin, Sciences Po). Paper funded by the Foundation.
• Keynote paper. Mariacristina De Nardi (UCL, FRB Chicago and NBER) Paper to be decided
• Roberto Pancrazi (University of Warwick) “Natural expectations and home equity extraction” (with Mario Pietrunti, Banca d’Italia and TSE)
• Sergei Guriev (Sciences Po and NES Moscow) “The economy of People’s Republic of China from 1953” (with Anton Cheremukhin, FRB Dallas, Mikhail Golosov, Princeton and NES, and Aleh Tsyvinski, Yale)

5th Joint French Macro Workshop – December 6, 2013, Paris

Florin Bilbiie (PSE) and myself  organized the  5th Joint French Macro Workshop. The workshop was (almost)  as usual held in the Banue de France.

This series of workshop is jointly organized by CREST/Polytechnique, the Paris School of Economics, SciencesPo and the Toulouse School of Economics; with the financial and logistic support of the Fondation Banque de France pour la recherche en économie.

Roger Guesnerie was this edition keynote speaker.

The (always exciting) program was:

Maren Froeml (EUI Florence), “General Equilibrium Effects of Targeted Transfers: The case of the Earned Income Tax Credit (EITC)” (with Charles Gottlieb)

Jean Barthélemy (Banque de France), “Monetary Policy Switching and Indeterminacy” (with Magali Marx)

Jean-Paul L’Huillier (Einaudi Institute), “Technological Revolutions and Debt Hangovers: Is There a Link?” (with Dan Cao)

Roger Guesnerie (PSE et Collège de France), « Eductive Stability in Real Business Cycle Models » (with Georges Evans and Bruce McGough)

Christian Hellwig (Toulouse School of Economics), Keynote Speech: “Risk- taking, Rent-seeking, and CEO compensation when financial markets are noisy”

Hitoshi Tsujiyama (Goethe University Frankfurt), “Optimal Income Taxation” (with Jonathan Heathcote)

Taneli Mäkinen (Banca d’Italia) “Information Acquisition and Learning from Prices Over the Business Cycle” (with Björn Ohl)

The first SAFE Exploratory Workshop on Transparency: Information generation, disclosure, and their effects on the economy – Frankfurt, Germany, October 4-5, 2103

I am attending the first SAFE Exploratory Workshop on Transparency. I am presenting some pieces of my  paper Paul Beaudry”News Driven Business Cycles: Insights and Challenges”.

The conference program is below:

4th October

9.30 am: Welcome coffee and registration
10.00 am: Ruben Enikolopov (Pompeu Fabra, New Economic School Moscow), Maria Petrova, and Konstantin Sonin, “Do political blogs matter? Corruption in state-controlled companies, blog postings, and DDoS attacks”, Discussant: Devesh Rustagi (Goethe University)

11.15 am Abbie Smith (University of Chicago Booth School of Business), Robert Davidson and Aiyesha Dey, “Executives’ and Legal Records, Lavish Lifestyles and Insider Trading Activities”, Discussant: Christine Zulehner (University Vienna and Goethe University)

1.45 pm Franck Portier (Toulouse School of Economics), Paul Beaudry, “News Driven Business Cycles: Insights and Challenges”, Discussant: Laura Moretti (Goethe University)

3.00 pm Brainstorming session animated by Christian Leuz (University of Chicago Booth School of Economics), “Economic consequences and real-effects of transparency regulation”

4.30 pm Richard Holden (University of New South Wales) and Roland Fryer, “Multitasking, Learning and Incentives: A Cautionary Tale”, Discussant: Alex White (Tsinghua University)

5th October

9.00 am Fanny Camara (Toulouse School of Economics), “Competition, Information Acquisition and Disclosure: Evidence from the Pharmaceutical Industry”, Discussant: Sascha Baghestanian (Goethe University)

10.15 am Christian Laux (WU Wien), Gyöngyi Loranth and Alan Morrison, “Internal Auditing and Capital Structure”, Discussant: Guido Friebel (Goethe University)

11.30 am Thomas Mosk (Goethe University Frankfurt), “Delegation of Authority and Information Manipulation: Evidence from Bank Lending Decisions”, Discussant: Nick Zubanov (Goethe University)

1.30 pm Florian Ederer (Yale School of Management), Richard Holden and Margaret Meyer, “Gaming and Strategic Ambiguity in Incentive Provision”, Discussant: Ferdinand von Siemens (Goethe University)

2.45 pm Eugene Soltes (Harvard Business School), “Who Consumes Public Disclosure? Evidence from Conference Call Engagement”, Discussant: Martin Götz (Goethe University)

11th Hydra Workshop on Dynamic Macroeconomics – Taormina, Italy, 27 –28 September, 2013

Harris Dellas organize this great series of conferences (named after the original location, the island of Hydra near Athens in Greece). TSE is a sponsor of the workshop and  I am lucky enough to be invited once more. I am presenting there my work with Paul Beaudry.

Here is the program of the workshop:

Day 1 (Friday, 27 September)

09:45 – 10:45    Mandatory disclosure and contagion of interconnected banks (paper)    
Fernando E. Alvarez* (University of Chicago) and Gadi Barlevy
Discussant:    Jennifer La’O (Columbia University)

11:00 – 12:00    Job uncertainty and deep recessions (paper)
Morten Ravn* (UCL) and Vincent Stark
Discussant:    Christian Helwig (University of Toulouse)

12:00 – 13:00    Sentiments and the business cycle
George-Marios Angeletos* (MIT, UTZ), Fabrice Collard and Harris Dellas
Discussant:    Patrick Feve (University of Toulouse)

13:00 – 14:00 Lunch

14:00 – 15:00    Understanding non-inflationary demand driven business cycles (paper)
Paul Beaudry (University of British Columbia) and Franck Portier* (Toulouse University)
Discussant:    George-Marios Angeletos (MIT, UTZ)

15:15 – 16:15    Debt Deleveraging and the Exchange Rate
Pierpaolo Benigno (Luiss University)
Discussant:    Behzad Diba (Georgetown University)

Day 2 (Saturday, 28 September)

09:45 – 10:45    Taxation, debt, and redistribution (paper)
Anmol Bhandari, David Evans, Mikhail Golosov, Thomas J. Sargent* (NYU)
Discussant:    Francesco Lippi (EIEF, University of Sassari)

11:00 – 12:00    Dynamics of Firms and Trade in General Equilibrium (paper)
Robert Dekle, Hyeok Jeong and Nobu Kiyotaki* (Princeton University)
Discussant:    John Leahy (NYU)

12:00 – 13:00    Credit Spreads and Credit Policies (paper)
Isabel Correia, Fiorella de Fiore, Pedro Teles and Oreste Tristani*(ECB)
Discussant:    Pietro Reichlin  (Luiss University)

13:00 – 14:30  Lunch

4th Joint French Macro Workshop –June 5, 2013, Toulouse

Olivier Loisel (CREST) and Romain Rancière (PSE) are organizing the  4th Joint French Macro Workshop. The workshop will be  in Toulouse at the Toulouse School of Economics (Université Toulouse 1 Capitole, Site des Anciennes Facultés, 11 rue des Puits Creusés, 31000 Toulouse, Amphithéâtre Dupeyroux).

The workshop is jointly organized by CREST/Polytechnique, the Paris School of Economics, SciencesPo and the Toulouse School of Economics; with the financial and logistic support of the Fondation Banque de France pour la recherche en économie.

Marios Angeletos is this edition keynote speaker.

Check on the TIGER forum website for more info.

Here is the (exciting) program:

Kalin Nikolov (European Central Bank), “Financial Disintermediation and Financial Fragility” (with Kosuke Aoki)

Luca Fornaro (London School of Economics), “International Debt Deleveraging”

Pedro Gomes (Universidad Carlos III), “Technological Change and the Composition of Taxes and Public Expenditures” (with Davide Debortoli)

George-Marios Angeletos (Massachusetts Institute of Technology), “Optimal Public Debt Management and Liquidity Provision” (with Fabrice Collard, Harris Dellas and Behzad Diba)

Ander Perez (Universitat Pompeu Fabra and Barcelona GSE), “Credit Constraints, Firms’ Precautionary Investment, and the Business Cycle”

Timo Boppart (Stockholm University IIES and University of Zurich), “Structural Change and the Kaldor Facts in a Growth Model with Relative Price Effects and Non-Gorman Preferences”

3rd Joint French Macro Workshop – November 30, 2012, Paris

Edouard Challe (Ecole Poltytechnique) and Nicolas Coeurdacier (Sciences Po) organized on November 30 the 3rd Joint French Macro Workshop. The workshop was be held at the Banque de France (espace conférence),  20 rue du Colonel Driant, 75001 Paris.

This workshop is jointly organized by CREST/Polytechnique, the Paris School of Economics, SciencesPo and the Toulouse School of Economics; with the financial and logistic support of the Fondation Banque de France pour la recherche en économie

The (always exciting) program was:

9h00-10h00 Frédéric Boissay (European Central Bank), “Boom and systemic banking crises” (with F. Colard and F. Smets)

10h00-11h00 Daniel Harenberg (ETH Zürich), “The welfare effects of social security in a Model with Aggregate and Idiosyncratic Risk” (with A. Ludwig)

11h00-11h30 Break

11h30-12h30 Isabelle Méjean (École Polytechnique), “Firms, destinations and aggregate fluctuations” (with J. di Giovanni and A. Levchenko)

12h30-13h30 Lunch

13h30-14h30 Hélène Rey (London Business School), Keynote speaker.

14h30-15h30 Kevin Sheedy (London School of Economics), “Debt and risk sharing in incomplete financial markets: A case for nominal GDP targeting”

15h30-16h00 Break

16h00-17h00 Manuel Garcia Santana (ECARES), “Foreign ownership, financial frictions and size distribution of plants”

JME-SNB-SCG Conference 2012, Gerzensee, October 19-20

Dirk Niepelt and Bob King organized the annual Journal of Monetary-Swiss National Bank Conference in Gerzensee. I went there to listen to the siw speakers of the day and a half conference. Lot of good economics.

Below is the program. Here is the site of the conference. (note that I took the photo on the left with my telephone on a saturday trip that we made in the mountains)

October 19, 2012

Session I, Chair: Dirk Niepelt, Study Center Gerzensee

Internal Debt Crises and Sovereign Defaults

Authors: Cristina Arellano and Narayana Kocherlakota, Federal Reserve Bank of Minneapolis

Discussants: Aleksander Berentsen, University of Basel and Cédric Tille, Graduate Institute for International and Development Studies

Coffee Break

Analyzing Fiscal Sustainability

Authors: Huixin Bi, Bank of Canada and Eric Leeper, Indiana University

Discussant: Craig Burnside, Duke University

Session II, Chair: Robert King, Boston University

The Economic Stimulus Payments of 2008 and the Aggregate Demand for Consumption

Authors: Christian Broda, University of Chicago and Jonathan A. Parker, Northwestern University

Discussants: Greg Kaplan, University of Pennsylvania and Jordi Galí, CREI, Universitat Pompeu Fabra

Coffee Break

The Social Value of Bank Capital and the Redistributive Effects of Financial Deregulation

Author: Anton Korinek, University of Maryland

Discussants: Robert Bichsel, Swiss National Bank and Jean-Charles Rochet, University Zurich

Dinner

Dinner address by Fritz Zurbruegg, Member of the Governing Board, Swiss National Bank

October 20, 2012

Session III, Chair: Marcel Savioz, Swiss National Bank

A Reconciliation of SVAR and Narrative Estimates of Tax Multipliers

Authors: Karel Mertens, Cornell University and Morten Ravn, University College London

Discussants: Elmar Mertens, Board of Governors of the Federal Reserve System and

Matthew Shapiro, University of Michigan

Debt Maturity without Commitment

Author: Dirk Niepelt, Study Center Gerzensee

Discussant: Robert G. King, Boston University

10th Hydra Workshop on Dynamic Macroeconomics – Ajaccio, Corsica, 28 –29 September, 2012

 Harris Dellas organize this great series of conferences (named after the original location, the island of Hydra near Athens in Greece). I have already been to a few. I am lucky enough to be invited once more. I am discussing there a paper of Pat Kehoe and Virgiliu Midrigan, “The Puzzling Behavior of Sectoral Real
Exchange Rates“.

Below is the program. Here is the site of the conference.

Friday, September 28

09:45-10:45 Chair: Benoit Mojon (Bank of France)
Fiscal Multipliers: Liquidity Traps and Currency Unions [download]
Emmanuel Farhi* (Harvard University) and Ivan Werning (MIT, NBER) Discussant: Behzad Diba (Georgetown University)

11:00-12:00 Chair: Carlos Lenz (SNB)
Public Debt as Private Liquidity: Optimal Policy
George-Marios Angeletos* (MIT, NBER), Fabrice Collard, Harris Dellas, and Behzad Diba
Discussant: Pedro Teles (Bank of Portugal and Catholic University of Portugal)

12:00-13:00
Fiscal Unions [download]
Emmanuel Farhi (Harvard University) and Ivan Werning* (MIT, NBER)
Discussant: Patrick Kehoe (University of Minnesota, FRB Minneapolis, NBER)

14:00-15:00 Chair: Jouko Vilmunen (Bank of Finland)
A Theory of Asset Prices Based on Heterogeneous Information
Elias Albagli, Christian Hellwig* (University of Toulouse), Aleh Tsyvinski
Discussant: Felix Kubler (UZH, SFI)

15:00-16:00
Precautionary Saving over the Business Cycle [download]
Edouard Challe* (Ecole Polytechnique, CREST and Banque de France ) and Xavier Ragot (Paris School of Economics and Banque de France)
Discussant:  Morten Ravn (UCL)

Saturday, September 29

10.00-11.00 Chair: Antti Ripatti (University of Helsinki)
The Role of Automatic Stabilizers in the U.S. Business Cycle [download]
Alisdair McKay and Ricardo Reis* (Columbia University, NBER)
Discussant: Mark Bils (University of Rochester)

11.15-12.15 Chair: Daniele Terlizzese (EIEF, Bank of Italy)
The Puzzling Behavior of Sectoral Real Exchange Rates [download]
Patrick Kehoe (University of Minnesota, FRB Minneapolis, NBER)
Discussant: Franck Portier  (University of Toulouse)

12.15-13.15
Financial Health Economics [download]
Ralph Koijen, Tomas Philipson and Harald Uhlig* (University of Chicago, CentER, NBER and CEPR)
Discussant:  Oreste Tristani (ECB)

3rd Joint French Macro Workshop – November 30, 2012, Paris

 Nicolas Coeurdacier (Sciences Po) and Édouard Challe (École Polytechnique) are orgazing the  3rd Joint French Macro Workshop.

The call for paper is on the Banque de France-TSE partnership website.

XVII Workshop on Dynamic Macroeconomics, June 12-14, Pazo de Soutomaior, Vigo, Spain

 With a group of good friends, (Tim Kehoe (University of Minnesota), Jaime Alonso-Carrera (Universidade de Vigo), Juan Carlos Conesa (Universitat Autònoma de Barcelona), José Maria Da-Rocha (Universidade de Vigo), Antonia Díaz (Universidad Carlos III de Madrid), Omar Licandro (Instituto del Análisis Económico-CSIC) and J. Víctor Ríos-Rull (University of Minnesota)), I am organizing the XVIIth edition of the Vigo Workshop on Dynamic Macroeconomics.

The workshop takes place in a fantastic location. It is the perfect combination of good economics (a lot of) and fun (a lot of). Presentation are done by PhD students.

As far as economics is conerned, here is the program:

TUESDAY, 12 JUNE

9:30-10:30: Illenin O. Kondo, University of Minnesota, “Trade Reforms, Foreign Competition, and Labor Market Adjustments in the U.S.”

10:30-11:30: Arantxa Crespo Rodríguez, Universidad Carlos III de Madrid, “Trade, Innovation and Productivity unemployment in France and United Kingdom.”

11:30-12:00 break

12:00-13:00: Sara Eugeni, University of York, “An OLG model of global imbalances.”

13:00-14:00: Timo Boppart, Universtiy of Zurich, “Structural change and the Kaldor facts in a growth model with relative price effects and non-Gorman preferences.”

14:00-15:30: lunch

15:30-16:30: Paula Gobbi, Université Catholique de Louvain, “DINKS, DEWKS & Co. Marriage, Fertility and Childlessness in the United States.”

16:30-17:30: Sébastien Langlois, University of Evry, “Bubbles and Public Debt in a Simple Macroeconomic Model with Financial Constraints.”

17:30-18:00: break

18:00-19:00: Julieta Caunedo, Washnington University, St Louis, “Industry Dynamics, Investment and Business Cycles.”

19:00-20:00: José Asturias, University of Minnesota, “A Model of Trade with Endogenous Transportation Costs.”

 WEDNESDAY, 13 JUNE

9:30-10:30: Joseph Steinberg, University of Minnesota, “Financial Markets, Misallocation and Total Factor Productivity: The Role of Informational Efficiency.”

10:30-11:30: Daniel Osorio, London School of Economics, “Flows of Information and Inefficiency in the Unsecured Consumer Credit Market: A Simple Framework.”

11:30-12:00: break

12:00-13:00: Dominik Menno, European Univerity Institute, “Financial Intermediation, House Prices, and the Great Recession.”

13:00-14:00: Joachim Jungherr, European Univerity Institute, “Financial Amplification, Executive Compensation, and Optimal Capital Structure.”

14:00: lunch

 THURSDAY, 14 JUNE

9:30-10:30: Pau Pujolas, Universitat Autònoma de Barcelona, “From Ricardo to New Trade Theory with a Pit Stop for Heckcsher-Ohlin.”

10:30-11:30: Maren Froemel, European University Institute, “Default risk and fiscal policy: the role of government consumption.”

11:30-12:00: break

12:00-13:00: Pietro Dallari, Universitat Pompeu Fabra, “Testing Rule-of-Thumb Using IRFs Matching.”

13:00-14:00: Pier Lauro Lopez, University of Lugano, “Welfare and Policy Implications of Asset Pricing Models.” [pdf]

14:00: lunch