New Directions in Macroeconomics and Monetary Policy

room N04, Velodromo Building, Sraffa 13


Friday, June 9th

9:00 Registration and welcome address

09:30-10:30 The Transmission of Monetary Policy through Redistributions and Durable Purchases
Vincent Sterk (University College London) and Silvana Tenreyro* (London School of Economics)
discussant: Edouard Challe (CREST & Ecole Polytechnique)

10:30-11:30 Forward Guidance and the Exchange Rate
Jordi Galί* (CREI, Universitat Pompeu Fabra and Barcelona GSE)
discussant: Phillippe Bacchetta (HEC Lausanne)


12:00-13:00 Safety, Liquidity, and the Natural Rate of Interest
Marco Del Negro, Domenico Giannone, Marc P. Giannoni*, Andrea Tambalotti (Federal Reserve Bank of New York)
discussant: Refet Gurkaynak (Bilkent University)

13:00 – 14:00 LUNCH

14:00-15:00 Monetary Policy, Bounded Rationality, and Incomplete Markets
Emmanuel Farhi* (Harvard University) and Iván Werning (MIT)
discussant: Luigi Iovino (Bocconi University and IGIER)

15:00-16:00 IKEA: A Model for Multination Pricing
Anthony Landry* (Bank of Canada)
discussant: Francesco Lippi (EIEF)


16:30-17:30 Monetary Policy, Heterogeneity, and the Housing Channel
Aaron Hedlund (University of Missouri), Fatih Karahan* (FRB of New York), Kurt Mitman (IIES, Stockholm University and CEPR), Serdar Ozkan (University of Toronto)
discussant: Christian Bayer (Univ. of Bonn)

Saturday, June 10th

09:30-10:30 Internal Devaluation and Macroeconomic Adjustment: Lessons from the Great Recession in the US
Giancarlo Corsetti (Cambridge and CEPR), Luca Dedola* (European Central Bank and CEPR), Riccardo Trezzi (Federal Reserve Board)
discussant: Cedric Tille (GIIDS Geneva)

10:30-11:30 The Dire Effects of the Lack of Monetary and Fiscal Coordination
Francesco Bianchi (Duke University CEPR and NBER) and Leonardo Melosi* (FRB of Chicago)
discussant: Bartosz Mackowiak (European Central Bank)


12-13:00 Fiscal Policy, Sovereign Risk, and Unemployment
Javier Bianchi (Federal Reserve Bank of Minneapolis and NBER), Pablo Ottonello (University of Michigan), Ignacio Presno* (Federal Reserve Board)
discussant: Franck Portier (Toulouse School of Economics)

13:00 LUNCH


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