Yale Department of Economics

Macroeconomics Workshop, 1999–2008

2008
February 26 George-Marios Angeletos, MIT, "Policy with Dispersed Information"
March 4 Yongsung Chang, University of Rochester, "Can A Representative Agent Model Represent a Heterogeneous Agent Economy?" (with Sungbae An and Sun-Bin Kim)
March 25 Jesus Fernandez-Villaverde, University of Pennsylvania, "Likelihood Estimation of DSGE Models with Epstein-Zin Preferences"
April 1 Cristina Arellano, University of Minnesota, "Default and the Maturity Structure in Sovereign Bonds"
April 8 Laura Veldkamp, NYU Stern, "Information Acquisition and Under-Diversification" (with Stijn Van Nieuwerburgh)
April 15 Gauti Eggertsson, NY Fed, "Was the New Deal Contractionary?" CANCELLED
April 22 Fabrizio Perri, University of Minnesota, "The International Diversification Puzzle Is Not as Bad as You Think" (with Jonathan Heathcote)
April 29 Nicola Fuchs-Schundeln, Harvard University, "Explaining the Low Labor Productivity in East Germany — A Spatial Analysis"
2007
February 27 Mark Huggett, Georgetown University, "Sources of Lifetime Inequality" (with Gustavo Ventura and Amir Yaron)
March 6 Fabien Postel-Vinay, University of Bristol, "A Feasible Equilibrium Search Model of Individual Wage Dynamics with Experience Accumulation" (with Jesper Bagger, Francois Fontaine and Jean-March Robin)
March 27 Esteban Rossi-Hansberg, Princeton University, "Spin-offs and the Market for Ideas" (with Satyajit Chatterjee)
April 3 Francisco Buera, Northwestern University, "Financial Frictions and the Persistence of History:  A Quantitative Exploration" (with Yongseok Shin)
April 10 Randy Wright, University of Pennsylvania, "Inflation and Unemployment: Lagos-Wright meets Mortensen-Pissarides"
April 17 Michael Reiter, Universitat Pompeu Fabra, "Endogenous Labor Market Participation and the Business Cycle" (with Christian Haefke)
April 24 Narayana Kocherlakota, University of Minnesota, "Household Heterogeneity and Real Exchange Rates"
May 1 Diego Restuccia, University of Toronto, "How Important is Human Capital?  A Quantitative Theory Assessment of World Income Inequality" (with Andrés Erosa and Tatyana Koreshkova)
September 11 Mike Golosov, MIT, "Decentralized trading with private information" (with Guido Lorenzoni and Aleh Tsyvinski)
September 18 Simon Gilchrist, Boston University, "Investment and the Cost of Capital: New Evidence from the Corporate Bond Market"
September 25 Giuseppe Moscarini, Yale University, "The Timing of Labor Market Expansions:  New Facts and a New Hypothesis"
October 2 Pieter Gautier, Tinbergen Institute and Georgetown University, "Structural Estimation of Search Intensity: Do Non-Employed Workers Search Enough?" (with Jose Luis Moraga Gonzales and Ronald Wolthoff)
October 9 Boyan Jovanovic, NYU, "U.S. Investment 1901-2005:  Incumbents, Entrants, and Q" (with Peter L. Rousseau)
October 16 Bruce Preston, Columbia University, "Stabilizing Expectations under Monetary and Fiscal Policy Coordination" (with Stefano Eusepi)
October 23 Roberto Perotti, University of Bocconi, "In search of the transmission mechanism of fiscal policy"
October 30 Christian Broda, University of Chicago, GSB, "Product Creation and Destruction: Evidence and Price Implications" (with David E. Weinstein)
November 6 Erik Hurst, University of Chicago, GSB, "Decomposing Lifecycle Expenditure" (with Mark Aguiar)
November 13 Ricardo Reis, Princeton University, "Relative Goods' Prices and Pure Inflation" (with Mark W. Watson)
November 27 Michael Woodford, Columbia University, "Information-Constrained State-Dependent Pricing"
December 4 Gueorgui Kambourov, University of Toronto, "Accounting for the Changing Life-Cycle Profile of Earnings" (with Iourii Manovskii)
2006
February 21 Eva Nagypal, Northwestern, "On the Extent of Job-to-Job Transitions"
February 28 Aleh Tsyvinski, Harvard, "Markets Versus Governments: Political Economy of Mechanisms" (with Daron Acemoglu and Michael Golosov)
March 21 Ricardo Caballero, MIT, "An Equilibrium Model of Global Imbalances and Low Interest Rates"
March 28 Claudia Olivetti, Boston University and Radcliffe Institute, "Home Production, Market Production, and the Gender Wage Gap: Incentives and Expectations" (with Stefania Albanesi)
April 4 Diego Comin, New York University, "A Theory of Growth and Volatility at the Firm and Aggregate Level" (with Sunil Mulani)
April 11 Robert King, Boston University, "Aggregate Dynamics of Inflation and Real Activity with Firm-level Productivity Shocks"
April 18 Matthias Doepke, UCLA, "Patience Capital, Occupational Choice, and the Spirit of Capitalism" (with Fabrizio Zilibotti)
April 25 Adriano Rampini, Northwestern University, "New or Used?  Investment with Credit Constraints"
September 12 Kenneth Burdett, UPENN, "Wage-Tenure Contracts with Heterogeneous Firms" (with Melvyn Coles)
September 19 Michael Woodford, Columbia, "Robustly Optimal Monetary Policy with Near-Rational Expectations"
September 26 Mark Gertler, NYU, "Unemployment Fluctuations with Staggered Nash Wage Bargaining" (with Antonella Trigari)
October 10 Nick Bloom, LSE and Stanford, "The Impact of Uncertainty Shocks:  Firm Level Estimation and a 9/11 Simulation"
October 17 Jordi Gali, U Pompeu Fabra, "A New Keynesian Model with Unemployment" (with O. Blanchard)
October 24 Daron Acemoglu, MIT, visiting Yale, "Political Economy and the Structure of Taxation" (with Mike Golosov and Aleh Tsyvinski)
November 7 Thomas Philippon, NYU Stern, "The y-Theory of Investment"
November 14 Fatih Guvenen, University of Texas Austin, "Ben-Porath Meets Skill-Biased Technical Change:  A Theoretical Analysis of Rising Inequality" (with Burhanettin Kuruscu)
November 28 Iourii Manovskii, UPENN, "Occupational Mobility and Wage Inequality" (with Gueorgui Kambourov) 
December 5 Shouyong Shi, University of Toronto, "Directed Search for Equilibrium Wage-Tenure Contracts"
2005
February 15 Martin Weitzman, Harvard University, "A Unified Bayesian Theory of Equity 'Puzzles'"
February 22 Cédric Tille, Federal Reserve Bank of New York, "Financial Integration and the Wealth Effect of Exchange Rate Fluctuations"
March 1 Luigi Guiso, visiting University of Chicago, "Cultural Biases in Economic Exchange" (with Paola Sapienza, and Luigi Zingales)
March 22 Harald Uhlig, Humboldt University, "Macroeconomics and Asset Markets:  some Mutual Implications"
March 29 Graciela Kaminksy, George Washington University, "When It Rains, It Pours:  Procyclical Capital Flows and Macroeconomic Policies" (with Carmen M. Reinhart and Carlos A. Vegh)
April 5 Helene Rey, Princeton University, "International Financial Adjustment" (with Pierre-Olivier Gourinchas)
April 12 Martin Schneider, NYU, "Real Effects of Inflation through the Redistribution of Nominal Wealth" (with Matthias Doepke)
April 19 Robert J. Shiller, Yale University, "The Life-Cycle Personal Accounts Proposal for Social Security: An Evaluation"
April 26 Enrique Mendoza, University of Maryland, "Sudden Stops in a Business Cycle Model with Credit Constraints:  A Fisherian Deflation of Tobin's Q"
May 3 Jonathan Parker, Princeton University, "Optimal Expectations" (with Markus K. Brunnermeier)
September 6 George Hall, Yale University, "The Response of Prices, Sales, and Output to Temporary Changes in Demand" (with Adam Copeland)
September 13 Stephen Williamson, University of Iowa, "Monetary Policy and Distribution"
September 20 John Kennan, University of Wisconsin, "Private Information, Wage Bargaining and Employment Fluctuations"
September 27 Gadi Barlevy, Chicago Fed, "Identification of Search Models Using Record Statistics"
October 4 Lawrence Christiano, Northwestern University, "Assessing VARs" (with Martin Eichenbaum and Robert Vigfusson)
October 11 William Fuchs, Stanford University, "Contracting with Repeated Moral Hazard and Private Evaluations"
October 18 Kjetil Storesletten, University of Oslo, "The Macroeconomic Implications of Rising Wage Inequality in the United States" (with Jonathan Heathcote and Giovanni L. Violante)
October 25 Giuseppe Moscarini and Bjoern Bruegemann, Yale University, "Asymmetric Information and Employment Fluctuations"
November 1 Stefania Albanesi, Columbia University, "Optimal Taxation of Risky Capital with Private Information"
November 8 Matteo Iacoviello, Boston College, "Household Debt and Income Inequality, 1963-2003"
November 15 Noah Williams, Princeton University, "Monetary Policy with Model Uncertainty:  Distribution Forecast Targeting"
November 29 Ricardo Lagos, NYU, "Asset Prices and Liquidity in an Exchange Economy"
December 6 Mariacristina De Nardi, University of Minnesota and Federal Reserve Bank of Minneapolis, "Taxation, Entrepreneurship, and Wealth" (with Marco Cagetti)
2004
February 24 Fabio Ghironi, Boston College & European University Institute, "International Trade and Macroeconomic Dynamics with Heterogeneous Firms" (with Marc Melitz)
March 2 Andrew Postlewaite, University of Pennsylvania, visiting Cowles, "Do Children Learn to Save from Their Parents?" (with John Knowles)
March 23 Paul Bergin, UC Davis, "Endogenous Tradability and Macroeconomic Implications"
March 30 Christian Hellwig, UCLA, "The Social Cost of Heterogeneous Information"
April 6 Robert Shimer, University of Chicago, "The Cyclical Behavior of Equilibrium Unemployment and Vacancies: Evidence and Theory"
April 13 Guido Lorenzoni, Princeton University, "Imperfect Information, Consumers' Expectations and Business Cycles"
April 20 Amartya Lahiri, NY Fed, "Segmented Asset Markets and Optimal Exchange Rate Regimes" (with Rajesh Singh and Carlos Vegh)
September 7 Ricardo Reis, Princeton University, "Inattentive Consumers"
September 14 Fatih Guvenen, University of Rochester, "Learning Your Earning:  Are Labor Income Shocks Really Very Persistent?"
September 21 Mike Golosov, MIT, "Menu Costs and Phillips Curves" (with Robert Lucas)
September 28 Mark Bils, University of Rochester, "Measuring Growth from Better and Better Goods"
October 5 Jesus Fernandez-Villaverde, UPENN, "A,B,C's (And D)'s for understanding VARs" (with Juan Rubio, Atlanta Fed, and Tom Sargent)
October 19 Allan Drazen, University of Maryland, "Political Budget Cycles in New versus Established Democracies" (with Adi Brender) and "Political Budget Cycles Without Deficits:  How to Play Favorites" (with Marcela Eslava)
October 26 Chris House, University of Michigan, "Temporary Investment Tax Incentives:   Theory with Evidence from Bonus Depreciation" (with Matthew Shapiro)
November 9 Richard Rogerson, Arizona State University, "Structural Transformation and the Deterioration of European Labor Market Outcomes"
November 16 Frank Schorfheide, UPENN, "On the Fit and Forecasting Performance of New-Keynesian Models" (with Marco Del Negro, Frank Smets and Raf Wouters)
November 30 Xavier Gabaix, MIT, "Power Laws and the Mega-Idiosyncratic Origins of Aggregate Fluctuations"
December 2 Huw Lloyd-Ellis, Queen's University, "Schumpeterian Restructuring" (with Patrick Francois)  Joint with Macro Lunch
December 7 Gian Luca Violante, NYU, "Optimal Welfare-to-Work Programs"

2003

February 25 John Leahy, NYU, "Wealth Accumulation and the Propensity to Plan"
March 4 Joseph Zeira, Hebrew Univ., visiting Kennedy School). "Innovations, Patent Races and Endogenous Growth"
March 25 Orazio Attanasio, UCL, "Empirical Implications of Limited Commitment:  Evidence from Mexican Villages" (with Pedro Albarran)
April 1 Francesco Caselli, Harvard, "Dynastic Management" (with Nicola Gennaioli)
April 8 Hyun Song Shin, LSE, "Beauty Contests, Bubbles and Iterated Expectations in Asset Markets"  (with Franklin Allen and Stephen Morris)   Joint with Micro Theory Workshop
April 15 Andres Velasco, Kennedy School, "Tough Policies, Incredible Policies"
April 22 Jeff Frankel, Kennedy School, "A Proposed Monetary Regime for Small Commodity-Exporters: Peg the Export Price ("PEP")"
April 24 Maurice Obstfeld, UC Berkeley, "The Case for Open-Market Purchases in a Liquidity Trap" (with Alan J. Auerbach)
May 2 Ayse Imrohoroglu, University of Southern California, "Entry Costs, Intermediation, and Capital Flows" (with Krishna Kumar)
May 6 Scott Schuh, Boston Fed, "Inventory Investment and Output Volatility" (with Owen Irvine)
September 9 Eduardo Engel, Yale University, "Adjustment is Much Slower than You Think"
September 16 Roberto Rigobon, MIT Sloan, "Asset Prices and Exchange Rates" (with Anna Pavlova)
September 23 Giuseppe Moscarini, Yale University, "Competence Implies Credibility"
September 30 Randy Wright, University of Pennsylvania, "Search, Money and Capital:  A Neoclassical Dichotomy" (with S. Boragan Aruoba)
October 7   Dirk Krueger, University of Pennsylvania, "Does Income Inequality Lead to Consumption Inequality? Evidence and Theory"
October 14  Monika Piazzesi, UCLA, "Housing, Consumption and Asset Pricing"
October 21  Chad Syverson, University of Chicago, "Reallocation, Firm Turnover, and Efficiency: Selection on Productivity or Profitability?"
October 28 Andrew Abel, Wharton School at UPENN, "Investment, Valuation, and Growth Options" (with Janice Eberly, Northwestern)
November 4 Urban Jermann, Wharton School at UPENN, "Using Asset Prices to Measure the Persistence of the Marginal Utility of Wealth" (with Fernando Alvarez)
November 11 Julio Rotemberg, Harvard Business School, The Benevolence of the Baker:  Fair Pricing under the Threat of Customer Anger
November 18 Ivan Werning, MIT, Optimal Commitment
December 2 Fernando Alvarez, University of Chicago, On the Sluggish Response of Prices to Money in an Inventory-Theoretic Model of Money Demand (with Andrew Atkeson and Chris Edmond)
December 9 George Hall, Yale University, "Price Discrimination in the Steel Market" (with Hiu Man Chan and John Rust)

2002

 
February 19 Anil Kashyap, University of Chicago GSB, Why Don't Prices Rise During Periods of Peak Demand? Evidence from Scanner Data
February 26 Peter Klenow, Federal Reserve Bank if Minneapolis, The Variety and Quality of a Nation's Trade (with David Hummels)
March 26 Christian Gollier, University of Toulouse, Time Horizon and the Discount Rate AND Transitory Shocks to GNP and the Consumption-Based Term Structure of Interest Rates
April 1 Owen Lamont, University of Chicago, GSB, Evaluating Value Weighting: Corporate Events and Market Timing
April 9 Olivier Jeanne, IMF, External Debt Crises and the International Financial Architecture
September 10 Pierre-Olivier Gourinchas, Princeton University, "On the Benefits of Capital Account Liberalization for Emerging Economies"
September 13 Sydney Ludvigson, NYU, "Expected Returns and Expected Dividend Growth"   Joint with Finance Workshop
September 17 Sergio Rebelo, Northwestern University, "When is it Optimal to Abandon a Fixed Exchange Rate?" (with Carlos Vegh)
September 24 Oded Galor, Brown University, "Natural Selection and the Origin of Economic Growth"
October 1 Olivier Jeanne, IMF, "Short-term Capital Flows and the International Financial Architecture"
October 8 Lee Ohanian, UCLA,"New Deal Policies and the Persistence of the Great Depression" Joint with Economic History Workshop
October 15 Tom Krebs, Brown, "Recursive Equilibrium in Endogenous Growth Models with Incomplete Markets"
October 22 Aubhik Khan, Philadelphia Fed, "Inventories and the Business Cycle:  An Equilibrium Analysis of (S,s) Policies"
October 29 Giuseppe Moscarini, Yale University,"Aggregate Worker Reallocation and Occupational Mobility in the US: 1971-2000" (with Francis Vella, European University Institute). Joint with Labor and Population Workshop
November 5 Christopher Otrok, Virginia, "A Generalized Volatility Bound for Dynamic Economies"
November 15 Robert Hall, Stanford, "Dynamics of Corporate Earnings" Joint with Cowles Seminar
November 19 Laurent Calvet, Harvard, "Idiosyncratic Production Risk, Growth, and the Business Cycle"
December 3 Carlos Vegh, UCLA, "On the Non-Monotonic Relation between Interest Rates and the Exchange Rate" (with Amartya Lahiri)

2001

 
February 27 Per Krusell, Rochester, "Temptation and Taxation" (with Burhanettin Kuruscu and Anthony Smith)
March 30 Edward Prescott, Minnesota, "Taxes, Regulations, and Asset Prices" (with Ellen McGrattan)  Joint with Cowles Seminar
April 3 V.V. Chari, Minnesota, "Financial Crises as Herds" (with Patrick Kehoe)
April 10 N. Gregory Mankiv, Harvard, "The Inexorable and Mysterious Tradeoff Between Inflation and Unemployment"
April 17 In-Koo Cho, Illinois, "Escape Dynamics" (with Lars Hansen, Chicago and Thomas Sargent, Stanford)
April 18 Lars Peter Hansen, University of Chicago, "Robustness and Pricing with Uncertain Growth" Joint with Cowles Seminar and Microeconomic Theory Workshop
September 18 Andres Velasco, Harvard JFK School of Government, "Third Generation Models of Financial Crises"
September 25 David Laibson, Harvard University, "The 6D Bias and the Equity Premium Puzzle"
October 2 Nicholas Souleles, University of Pennsylvania, Wharton School, "Consumer Credit"
October 9 Ricardo Lagos, New York University, "A Model of TFP"
October 16 Mark Huggett, Georgetown University, "Precautionary Wealth Accumulation"
October 23 Guido Lorenzoni, Princeton, "The Real Bills vs. Monetary Control"
October 30 Victor Rios-Rull, University of Pennsylvania, "A Quantitative Theory of Unsecured Consumer Credit with Risk of Default"
November 13 Mark Bils, University of Rochester, "Some Evidence on the Importance of Sticky Prices" (with Pete Klenow)
November 27 Ennio Stacchetti, University of Michigan, "Sequential Equilibrium in a Ramsey Tax Model" (with Chris Phelan)
December 4 Luca Dedola, Bank of Italy, "Macroeconomics of International Price Discrimination" (with Giancarlo Corsetti)

2000

 
February 8 Helene Rey, LSE/Berkeley, "Financial Super-Markets: Size Matters for Asset Trade"
February 22 David Laibson, Harvard, "A Debt Puzzle"
February 29 Richard Clarida, Columbia University, The Empirics of Monetary Policy Rules in Open Economies
March 21 N. Kiyotaki, LSE, "Credit Chains" (with John Moore)
April 4 Roland Benabou, Princeton University, "Self-Confidence: Intrapersonal Strategies" (with Jean TiroleJoint with Microeconomic Theory Workshop AND "Self-Confidenceand Social Interactions"
April 11 Marco Bassetto, Northwestern University, "Game-Theoretic Foundations of the Fiscal Theory of the Price Level"
April 18 Eduardo Engel, Chile, "Lumpy Adjustment and Aggregate Dynamics"
April 25 Matthew Shapiro, Michigan, "Displaced Capital: A Study of Aerospace Plant Closings" (with Valerie E. Ramey)
May 2 Fernando Alvarez, University of Chicago, "Using Asset Prices to Measure the Cost of Business Cycles" (with Urban Jermann)   Figures & Tables
September 15 Steven Davis, University of Chicago, "On the Gains to International Trade in Risky Financial Assets" (with Jeremy Nalewaik and Paul Willen)
September 19 Pat Kehoe, University of Pennsylvania and Minneapolis FED, "The Transition to a New Economy" (with Andrew Atkeson)
September 26 Luis Viceira, Harvard University, "A Multivariate Model of Strategic Asset Allocation" (with John Y. Campbell and Y. Lewis Chan) Appendix
October 3 Giuseppe Moscarini, Yale University, "Gross and Net Worker Reallocation: Evidence from the NLSY79" (with Francis Vella)
October 10 Narayana Kocherlakota, University of Minnesota, "Societal Benefits of Nominal Bonds"
November 1 Akihiko Matsui, Tokyo and Georgetown University, "A Theory of Money with Market Places"' (with Takashi Shimizu) Joint with Microeconomic Theory
November 10 Steven Durlauf, University of Wisconsin at Madison, "Growth Economics and Reality" (with William Brock, University of Wisconsin)
November 14 Thomas Cooley, New York University, "Limited Enforceability, Heterogeneity and the Macroeconomy"

1999

 
September 14 Robert J. Shiller and Stefano Athanasoulis, Yale University, "World Income Components: Some New Results"
September 21 William Dupor, Wharton School, University of Pennsylvania, "Keynesian Conundrum: Multiplicity and Time Consistent Stabilization"
October 12 Skander van den Heuvel, Yale University, "The Bank Capital Channel of Monetary Policy"
October 19 Stephen Zeldes, Columbia GSB, "Do the Rich Save More?" (with Karen Dynan and Jonathan Skinner)
October 26 Andrew Atkeson, University of Minnesota, "Volatile Exchange Rates and the Forward Premium Anomaly: A Segmented Asset Market View"
November 2 Carlos Vegh, UCLA, "Delaying the Inevitable: Optimal Interest Rate Policy and BOP Crises" (with Amartya Lahiri)
November 9 Charles Engel, University of Washington and John H. Rogers, Board of Governors, "Deviations from the Law of One Price: Sources and Welfare Costs"
November 30 Jonathan Parker, Princeton University, "The Consumption Function Revisited"
December 7 Francesco Giavazzi, Bocconi University, "The Transmission Mechanism of Monetary Policy in Europe: Evidence from Banks' Balance Sheets" (with Carlo A. Favero and Luca Flabbi)