Programme for 17 December
Morning session
Session chair: John McDermott (Reserve Bank of New Zealand)
Welcome: Alan Bollard, Reserve Bank of New Zealand
Session 1
When is the government spending multiplier large?
Presented by: Lawrence Christiano, Martin Eichenbaum, and Sergio Rebelo (Northwestern University)
Discussant: John Leahy (New York University)
- Download the paper (PDF 828KB)
Session 2
A defence of the federal reserve open market committee (FOMC)
Presented by: Thomas Sargent (New York University) and Craig Burnside (Duke University)
Discussant: Craig Burnside (Duke University)
- Download the paper (PDF 965KB)
Session 3
A model of unconventional monetary policy
Presented by: Mark Gertler and Peter Karadi (New York University)
Discussant: Robert Hall (Stanford University)
- Download the paper (PDF 314KB)
Afternoon session
Session chair: Chris Kent (Reserve Bank of Australia)
Session 4
Do credit constraints amplify macroeconomic fluctuations?
Presented by: Tao Zha, Zheng Liu and Pengfei Wang (Federal Reserve Bank of Atlanta)
Discussant: Simon Gilchrist (Boston University)
- Download the paper (PDF 363KB)
Session 5
On a tractable small open economy model with endogenous monetary policy trade-offs
Presented by: Jaime Alonso-Carrera (Universidade de Vigo) and Timothy Kam (Australian National University)
Discussant: Christoph Thoenissen (University of St Andrews)
- Download the paper (PDF 283KB)
Session 6
Long and short interest rate targets
Presented by: Bernardino Adao, Isabel Correia and Pedro Teles (Banco de Portugal)
Discussant: Pablo Andres Neumeyer (Torcuato Di Tella University)
- Download the paper (PDF 183KB)
Programme for 18 December
Morning session
Session chair: Bernard Hodgetts (Reserve Bank of New Zealand)
Session 7
Bailouts, time inconsistency and optimal regulation
Presented by: V. V. Chari and Patrick J. Kehoe (Federal Reserve Bank of Minneapolis)
Discussant: Timo Henckel (Australia National University)
- Download the paper (PDF 198KB)
Session 8
The high sensitivity of economic activity to financial friction
Presented by: Robert Hall (Stanford University)
- Download the paper (PDF 922KB)
Afternoon session
Session chair: Lawrence Christiano (Northwestern University and CIED)
Session 9
Sunspots and credit frictions
Presented by: Sharon Harrison (Columbia University) and Mark Weder (University of Adelaide)
Discussant: Martin Fukac (Reserve Bank of New Zealand)
- Download the paper (PDF 234KB)
Session 10
Inflation and the natural rate of unemployment in the US business cycles
Presented by: Nicolas Groshenny (Reserve Bank of New Zealand)
Discussant: Thomas Lubik (Federal Reserve Bank of Richmond)
- Download the paper (PDF 435KB)