Institute for Advanced Studies, Josefstädter Straße 39, 1080, Vienna, Austria

Thirteenth Annual Vienna Macroeconomic Workshop on Current Topics in Macroeconomic Theory and Policy 21 - 22 October 2016 Organized by David Andolfatto, SFU/FRB St. Louis, Martin Gervais, Univ. of Iowa, and Gabe Lee, Univ. of Regensburg / IHS Sponsors: IHS, Rutgers Center for Real Estate & FRB St. Louis

Friday, 21 October 2016 9:00

Registration

9:25-9:30

Opening Remarks by Martin Kocher (Director of IHS)

9:40-10:25

Joao Alfredo Galindo da Fonseca (UBC), Giovanni Gallipoli (UBC)*, and Yaniv Yedid-Levi (UBC)

10:25-10:40

10:50-11:35

Discussant: Ludo Visschers (Univ. of Edinburgh) Aaron Hedlund (University of Missouri), Fatih Karahan (FRB New York), Kurt Mitman (IIES, Stockholm University), and Serdar Ozkan (University of Toronto)*

11:35-11:50

12:00-12:45

Finn E Kydland (UC Santa Barbara), Carlos Garriga (FRB St. Louis), and Roman Sustek (Queen Mary)*

Lunch

14:00-14:45

David Fieldhouse (Moody's Analytics), Igor Livshits (Univ. of Western Ontario)*, and James MacGee (Univ. of Western Ontario)

14:45-15:00

Mariacristina De Nardi (UCL), Giulio Fella (Queen Mary Univ. of London)*, and Gonzalo Paz-Pardo (UCL)

The implications of richer earnings dynamics for consumption and wealth : Discussant: Kathrin Schlafmann (IIES)

Allen Head (Queen's Univ)*, Hongfei Sun (Queen's Univ.), and Chenggang Zhou (Univ. of Waterloo)

Default, Mortgage Standards and Housing Liquidity

17:05-17:20

Discussant: Aaron Hedlund (Univ. of Missouri) Paul Beaudry (UBC)*, Dana Galizia (Carleton Univ.), and Franck Portier (Toulouse School of Economics)

18:15-18:30

20:00

Aggregate Fluctuations, Consumer Credit and Bunkruptcy Discussant: Leo Kaas (Univ. of Konstanz)

15:55-16:10

17:30-18:15

Nominal rigidities in debt and product markets Discussant: Toni Braun (FRB Atlanta)

13:00-13:50

16:20-17:05

Monetary Policy, Heterogeneity, and the Housing Channel

Discussant: Antonia Diaz (Carlos III)

12:45-13:00

15:10-15:55

Revisiting the Relationship Between Unemployment and Wages

.Reviving the Limit Cycle View of Macroeconomic Fluctuations Discussant: Paul Klein (Stockholm University

Dinner * Presenters

Institute for Advanced Studies, Josefstädter Straße 39, 1080, Vienna, Austria

Thirteenth Annual Vienna Macroeconomic Workshop on Current Topics in Macroeconomic Theory and Policy 21 - 22 October 2016 Organized by David Andolfatto, SFU/FRB St. Louis, Martin Gervais, Univ. of Iowa, and Gabe Lee, Univ. of Regensburg / IHS Sponsor: IHS, Rutgers Center for Real Estate & FRB St. Louis

Saturday, 22 October 2016 9:15 9:40-10:25

Registration David Andolfatto (FRB St. Louis and Simon Fraser Univ.), Aleksander Berentsen (Univ. of Basel), and Fernando Martin (FRB St. Louis)*

10:25-10:40

10:50-11:35

Discussant: Mariana Rojas Breu (Paris Dauphine Univ.) Orazio Attanasio (Univ. College London and IFS), Agnes Kovacs (Univ. of Oxford), and Krisztina Molnar (Norwegian School of Economics)*

11:35-11:50

12:00-12:45

Patrick A. Pintus (Banque de France)*, Yi Wen (FRB St. Louis and Tsinghua Univ.), and Xiaochuan Xing (Tsinghua Univ.)

Lunch

14:00-14:45

Nathan Foley-Fisher (Board of Governors), Borghan Narajabad (Board of Governors)*, and Stephane Verani (Board of Governors)

14:45-15:00

Self-fulfilling Runs: Evidence from the U.S. Life Insurance Industry

Discussant: Francesca Carapella (Board of Governors) Espen Henriksen (UC Davis)* and Thomas Cooley (NYU - Stern)

15:55-16:10

The Demographic Deficit

Discussant: Aspen Gorry (Utah State Univ.) David Comerford (Univ. of Stirling), Jose V. Rodriguez Mora (Univ. of Edinburgh)*, and Michael J. Watts (Univ. of Edinburgh)

17:05-17:20

17:30-18:15

Interest Rate Dynamics, Variable-Rate Loans, and the Business Cycle Discussant: Paul Gomme (Concordia Univ.)

13:00-13:50

16:20-17:05

Euler Equations and Income Shocks using Survey Data

Discussant: Felicia Lonescu (Board of Governors)

12:45-13:00

15:10-15:55

Monetary Policy and Financial Stability

The Rise of Meritocracy and the Inheritance of Advantages Discussant: Todd Schoellman (Arizona State Univ.)

Maya Eden (The World Bank) and Paul Gaggl (UNC Charlotte)*

18:15-18:30

On the Welfare Implications of Automation Discussant: Henry Siu (UBC)

18:30_18:45

General Wrap Up

20:00

Dinner

* Presenters

Institute for Advanced Studies, Josefstädter Straße 39, 1080, Vienna, Austria

Thirteenth Annual Vienna Macroeconomic Workshop on Current Topics in Macroeconomic Theory and Policy 21 - 22 October 2016 Organized by David Andolfatto, SFU/FRB St. Louis, Martin Gervais, Univ. of Iowa, and Gabe Lee, Univ. of Regensburg / IHS Sponsor: IHS, Rutgers Center for Real Estate & FRB St. Louis

Official Participants: Potential Discussants (as of October 17, 2016): Aleksander Berentsen (Univ. of Basel), Alex Karaivanov (Simon Fraser Univ.), Alessandro Mennuni (Southhampton),Harris Dellas (Univ. of Bern), Chris Waller (FRB St. Louis), Carlos Garriga (FRB St. Louis),Gabe Lee (Regensburg and IHS), Martin Gervais (Univ. of Iowa), David Andolfatto (FRB St. Louis and Simon Fraser Univ .), Nathan FoleyFisher (Board of Governors), Morris Davis (Rutgers), Johannes Strobel (Regensburg), Emilio Espino(UTdT), Christian Haefke (NYU, Abu Dhabi), Michael Reiter (IHS), Felix Strobel (HU Berlin), Jelena Zivanovic (HU Berlin), Mohammed Aït Lahcen (Basel), Derya Filiz Unsal Portillo Ocando (IMF), Kurt e. w. v. Mitman (IIES), Alessandro Marchesiani (Minho), Minchul Yum (Mannheim), Anna Heller (Regensburg), Sabrina Genz (Regensburg), Ina Meier (Regensburg), Kerstin Zeise (Regensburg), Susanne Forstner (IHS), Florian Madison (Basel)

Friday Workshop Dinner Sponsor: Rutgers Center for Real Estate Saturday Workshop Dinner Sponsor: FRB St. Louis

MACRO-WORKSHOP-IHS-2016_program_v3 oct 17.pdf

14:00-14:45 David Fieldhouse (Moody's Analytics), Igor. Livshits (Univ. of Western Ontario)*, and. James MacGee (Univ. of Western Ontario). Aggregate Fluctuations, Consumer. Credit and Bunkruptcy. 14:45-15:00 Discussant: Leo Kaas (Univ. of Konstanz). 15:10-15:55 Mariacristina De Nardi (UCL), Giulio. Fella (Queen ...

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