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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SUMMER INSTITUTE 2012

Impulse and Propagation Mechanisms

Lawrence Christiano and Martin S. Eichenbaum, Organizers

July 9-13, 2012

Royal Sonesta Hotel
Charles B
40 Edwin H. Land Blvd.
Cambridge, MA

PROGRAM

Monday, July 9:
8:30 am	Coffee and pastries
9:00 am	Nir Jaimovich, Duke University and NBER Henry E. Siu, University of British Columbia and NBER The Trend is the Cycle: Job Polarization and Jobless Recoveries
10:00 am	Break
10:15 am	Jordi Gali, CREI and NBER Frank Smets, European Central Bank Raf Wouters, National Bank of Belgium Slow Recoveries: A Structural Interpretation
11:15 am	Break
11:30 am	Francesco Bianchi, Duke University Leonardo Melosi, London Business School Dormant Shocks and Fiscal Virtue
12:30 pm	Adjourn and lunch
Tuesday, July 10:
8:30 am	Coffee and pastries
9:00 am	R. Anton Braun, Federal Reserve Bank of Atlanta Tomoyuki Nakajima, Kyoto University Why Prices Don't Respond Sooner to a Prospective Sovereign Debt Crisis..
10:00 am	Break
10:15 am	Olivier Jeanne, Johns Hopkins University and NBER Anton Korinek, University of Maryland and NBER Macroprudential Regulation Versus Mopping Up After the Crash
11:15 am	Break
11:30 am	Patrick A. Pintus, Aix-Marseille University Jacek Suda, Paris School of Economics Learning Financial Structural Change and the Great Recession
12:30 pm	Adjourn and lunch
7:30 pm	Dinner - Legal Sea Foods at Kendall Square
Wednesday, July 11:
8:30 am	Coffee and pastries
9:00 am	Olivier Coibion, College of William and Mary and NBER Yuriy Gorodnichenko, University of California at Berkeley and NBER Gee Hee Hong, University of California at Berkeley The Cyclicality of Effective Prices: Sales, Store-Switching and the Mismeasurement of Inflation
10:00 am	Break
10:15 am	Fernando Alvarez, University of Chicago and NBER Francisco Lippi, University of Sassari Luigi Paciello, Einaudi Institute for Economics and Finance Monetary Shocks with Observation and Menu Costs
11:15 am	Break
11:30 am	Filip Matejka, Princeton University Rationally Inattentive Seller: Sales and Discrete Pricing
12:30 pm	Adjourn and lunch
6:00 pm	Clambake, Harvard Faculty Club, 20 Quincy Street, Cambridge, MA
Thursday, July 12:
8:30 am	Coffee and pastries
9:00 am	Emi Nakamura, Columbia University and NBER Dmitriy Sergeyev, Columbia University Jon Steinsson, Columbia University and NBER Growth-Rate and Uncertainty Shocks in Consumption: Cross-Country Evidence
10:00 am	Break
10:15 am	Steve Davis, University of Chicago and NBER Scott Baker, Stanford University Nicholas Bloom, Stanford University and NBER Measuring Economic Policy Uncertainty
11:30 am	Xavier Gabaix, New York University and NBER Sparse Dynamic Programming and Aggregate Fluctuations
12:30 pm	Adjourn and lunch
Friday, July 13:
8:30 am	Coffee and pastries
9:00 am	Gauti Eggertsson, Federal Reserve Bank of New York Deficits, Public Debt Dynamics, and Tax and Spending Multipliers
10:00 am	Break
10:15 am	Johannes Wieland, University of California at Berkeley Are Negative Supply Shocks Expansionary at the Zero Lower Bound?
11:15 am	Break
11:30 am	Narayana R. Kocherlakota, Federal Reserve Bank of Minneapolis and NBER Incomplete Labor Markets
12:30 pm	Adjourn and lunch