The NBER Reporter 2015 Number 3: Conferences

The NBER's 38th International Seminar on Macroeconomics took place in Zürich, Switzerland on June 26-27. The seminar was organized by research associates Jeffrey Frankel of Harvard University, Francesco Giavazzi of Bocconi University, Hélène Rey of London Business School, and Kenneth West of University of Wisconsin–Madison. These papers were discussed:

Tarek A. Hassan, University of Chicago and NBER; Thomas Mertens, New York University; and Tony Zhang, University of Chicago, "Not so Disconnected: Exchange Rates and the Capital Stock" (NBER Working Paper No. 21445)

Lorenzo Bretscher and Christian Julliard, London School of Economics, and Carlo Rosa, Federal Reserve Bank of New York, "Human Capital and International Portfolio Diversification: A Reappraisal"

Harris Dellas and Dirk Niepelt, University of Bern, "Sovereign Debt with Heterogeneous Creditors"

Anton Korinek, Johns Hopkins University and NBER, and Damiano Sandri, International Monetary Fund, "Capital Controls or Macroprudential Regulation?" (NBER Working Paper No. 20805)

Javier Bianchi, University of Wisconsin–Madison and NBER; Chenxin Liu, University of Wisconsin–Madison; and Enrique G. Mendoza, University of Pennsylvania and NBER, "Phases of Global Liquidity, Fundamentals News, and the Design of Macroprudential Policy"

Luigi Guiso, Einaudi Institute for Economics and Finance; Helios Herrera, HEC Montréal; and Massimo Morelli, Columbia University and NBER, "Cultural Differences and Institutional Integration"

Joel David, University of Southern California, and Ina Simonovska, University of California, Davis, and NBER, "Correlated Beliefs, Correlated Returns, and the Cross-Section of Stock Market Volatility"

Stephen Hansen, Universitat Pompeu Fabra, and Michael McMahon, University of Warwick, "Shocking Language: Understanding the Macroeconomic Effects of Central Bank Communication"

Summaries of these papers are at: http://www.nber.org/confer/2015/ISOM15/summary.html

The NBER in collaboration with the Center for Advanced Research in Finance, the Center on Japanese Economy and Business, and the Australia-Japan Research Centre held a meeting on the Japanese economy in Tokyo, Japan on July 30-31. Shiro Armstrong, Australian National University; Charles Horioka, Osaka University and NBER; Takeo Hoshi, Stanford University and NBER; Tsutomu Watanabe, University of Tokyo; and David Weinstein, Columbia University and NBER, organized the meeting. These papers were discussed:

Sebastian Heise, Yale University; Justin R. Pierce, Federal Reserve Board; Georg Schaur, University of Tennessee; and Peter K. Schott, Yale University and NBER, " 'American' vs 'Japanese' Procurement: Theory and Evidence from Transaction-Level Trade Data"

Yukiko Asai, University of Tokyo; Ryo Kambayashi, Hitotsubashi University; and Takao Kato, Colgate University, "Careers of Married Women and the Nature of Husbands' Work: Evidence from Japan"

Nobuko Nagase, Ochanomizu University, "The Effect of Family-Friendly Regulation on Fertility: Evidence from Japan Using Natural Experiments"

Christina Atanasova, Simon Fraser University, and Jess Diamond, Hitotsubashi University, "Japan's Diversification Discount"

William N. Goetzmann, Yale University and NBER; Yasushi Hamao, University of Southern California; and Hidenori Takahashi, Kobe University, "Selective Disclosure: The Case of Nikkei Preview Articles"

Koichiro Ito, University of Chicago and NBER, and James M. Sallee, University of California, Berkeley, and NBER, "The Economics of Attribute-Based Regulation: Theory and Evidence from Fuel-Economy Standards" (NBER Working Paper No. 20500)

Chie Hanaoka, Kyoto Sangyo University; Hitoshi Shigeoka, Simon Fraser University and NBER; and Yasutora Watanabe, Hong Kong University of Science and Technology, "Do Risk Preferences Change? Evidence from Panel Data before and after the Great East Japan Earthquake" (NBER Working Paper No. 21400)

Arito Ono, Chuo University; Daisuke Miyakawa and Iichiro Uesugi, Hitotsubashi University; Kaoru Hosono, Gakushuin University; Hirofumi Uchida, Kobe University; and Taisuke Uchino, Daito Bunka University, "Transaction Partners and Firm Relocation Choice: Evidence from the Tohoku Earthquake"

Summaries of these papers are at: http://www.nber.org/confer/2015/JPMs15/summary.html