7th DYNARE CONFERENCE
Conference program
(Each session is chaired by the last speaker on that session.)
September 9, 2011
08:30-09:00 Continental breakfast
09:00-10:30 Parallel session A
- Session A1: Forecasting
- R. Edge, R. Gurkaynak and B. Kisacikoglu Judging the DSGE model by its forecast.
- M. Wolters Forecasting under model uncertainty.
- Session A2: Investment and the business cycle
- J. Miao and P. Wang Does lumpy investment matter for business cycles?
- F. Verona Lumpy investment in sticky information general equilibrium.
- Session A3: Financial stress and term structure of interest rates
- K. Hubrich Financial stress and macroeconomic dynamics: The transmission of crises.
- T. Doh Long run risks in the term structure of interest rates: Estimation.
10:30-11:00 Coffee break
11:00-12:30 Parallel session B
- Session B1: Search models and occasionally binding constraints
- D. Martin and O. Pierrard On-the-job search and cyclical unemployment: Crowding out vs. vacancy effects.
- H. Li Accuracy of numerical policies for dynamic models with occasionally binding constraints.
- Session B2: Advances in methodology
- J. Maih An object-oriented application for estimating Markov-switching rational expectations models.
- K. Mavromatis Markov-switching monetary policy in a two-country DSGE model.
- Session B3: Learning
- G. Cateau, C. Meh and A. Ueberfeldt Financial imbalances, learning, and credibility of the inflation target.
- D. Tortorice Credit constraints, learning and aggregate consumption volatility.
12:30-14:00 Lunch
14:00-15:00 Plenary session
15:00-15:30 Coffee break
15:30-17:00 Parallel sessions C
- Session C1: Monetary policy
- W. Gavin and B. Keen The zero lower bound and the dual mandate.
- D. Debortoli, J. Maih and R. Nunes Loose commitment in medium-scale macroeconomic models: Theory and an application.
- Session C2 Asset prices
- M. Kliem and H. Uhlig Bayesian estimation of a DSGE model with asset prices.
- E. Swanson Risk aversion and the labor margin in dynamic equilibrium models.
- Session C3 Downward rigidities
- M. Abbritti and S. Fahr Accounting for downward wage rigidities with perturbation methods: Issues in simulation and estimation.
- E. Gaffeo, I. Petrella, D. Pfajfar and E. Santoro Loss aversion and the transmission of monetary policy.
17:15-18:00 Reception
18:00 Conference Dinner
September 10, 2011
08:30-09:00 Continental breakfast
09:00-11:15 Parallel session D
- Session D1: Open economy models
- Session D2: Optimal policy and commitment
- E. Mertens Discreet commitments of policymakers with private information.
- L. Coroneo, V. Corradi and P. Santos Monteiro Testing for the degree of commitment via set-identification.
- R. Anton Braun, L. Mareen Koerber and Y. Waki Some unpleasant properties of log-linearized solutions when the nominal rate is zero.
- Session D3: Business cycles and finance
- C. Yepez Financial cycles in business cycles.
- A. Ortiz and J. Wishart A comparison between real business cycles and financial frictions models.
- T. Kurozumi Sources of business fluctuations: Financial or technology shocks?
11:15-11:45 Coffee break
11:45-12:45 Plenary session
- L. Hansen Exploring macroeconomic models through the lens of asset pricing based on joint work with J. Borovicka.
12:45-14:00 Lunch
14:00-15:30 Parallel session E
- Session E1: Macroprudential policy and asset prices
- P. Gelain Macro-prudential policies in a DSGE model with financial frictions.
- R. Bidder and M. Smith Doubts and variability.
- Session E2: Optimal and robust monetary policy
- S. Davis and K. Huang Optimal monetary policy under financial sector risk.
- R. Gerke and F. Hammermann Robust monetary policy in a New Keynesian model with imperfect interest rate pass-through.
- Session E3: Indexation in the New Keynesian model
- R. Alstadheim Neo-classical or New-Keynesian Phillips curve? Implications for optimal monetary policy.
- G. Ascari, N. Branzoli and E. Castelnuovo Trend inflation, wage indexation, and determinacy in the U.S.
15:30-16:00 Coffee break
16:00-17:30 Parallel session F
- Session F1: Fiscal policy
- R. Van der Kerckhove and F. Heylen Heterogeneous ability and the effects of fiscal policy composition on employment and growth.
- J. Fernández-Villaverde, P. Guerrón-Quintana, K. Kuester and J. Rubio-Ramírez Fiscal volatility shocks and economic activity.
- Session F2: Advances in estimation
- J. Benes and M. Fukac (Log)-linear approximation of stochastic growth models. Why scratch the right ear with the left hand?
- S. Ivashchenko DSGE model estimation on the basis of second order approximation.
The conference is organized by the Center for Quantitative Economic Research (QCER) at the Federal Reserve Bank of Atlanta, Bank of France, DSGE-NET and the Dynare Project at CEPREMAP.