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CSEF - Center for Studies in Economics and Finance

15 June 2015 – 16 June 2015
CSEF-CIM-UCL Conference "Macroeconomics after the Great Recession"

The conference is held in Ischia at the Albergo Della Regina Isabella and is organized jointly with the Center for International Macroeconomics (Northwestern University) and University College London (UCL),


Monday, 15 June 2015

9.15 - 9.30 Welcome address

Morning Sessions - Chair: Martin Eichenbaum (Northwestern University)

9.30 - 10.30 Klaus Adam (University of Mannheim)
“Can a Financial Transactions Tax Prevent Stock Price Booms?” (joint with A. Marcet, S. Merkel and J. Beutel) III Slides
Discussant: Martin Ellison (Oxford University) III Slides

10.30 - 11.00 Coffee Break

11.00 - 12.00 Marco Bassetto (University College London)
"Forward Guidance: Communication, Commitment, or Both?" III Slides
Discussant: Luigi Paciello (Einaudi Institute for Economics and Finance) III Slides

12.00 - 13.00 Giancarlo Corsetti (Cambridge University)
"The Mystery of the Printing Press” (joint with L. Dedola) III Slides
Discussant: Marco Bassetto (University College London) III Slides
13.00- 14.30 Lunch

Afternoon Sessions - Chair: Morten Ravn (University College London)

14.30 - 15.30 Martin Eichenbaum (Northwestern University)
“Is There a Uniqueness Problem In New Keynesian Model?” (joint with L. Christiano and B. Johansen) III Slides
Discussant: Morten Ravn III Slides

15.30 - 16.30 Sergio Rebelo (Northwestern University)
"Trading down and the business cycle" (joint with N. Jaimovich and A. Wong)
Discussant: Tommaso Oliviero (CSEF)

16.30 - 17.30 Coffee Break

17.30- 18.30 Raffaella Giacomini (University College London)
“Rationally heterogeneous forecasters” (joint with V. Skreta and J. Turen) III Slides
Discussant: Jean-Paul L’Huillier (Einaudi Institute for Economics and Finance) III Slides

20.30 Reception and Dinner

Tuesday, 16 June 2015

Morning Sessions - Chair: Saverio Simonelli (University of Naples Federico II and CSEF)

9.00 - 10.00 Morten Ravn (University College London)
"(S)cars in the Great Recession" (joint with O. Attanasio and M. Padula)
Discussant: Annalisa Scognamiglio (CSEF)

10.00 - 10.30 Coffee Break

10.30 - 11.30 Guido Lorenzoni (Northwestern University)
"House Prices and Consumer Spending" (joint with D. Berger, V. Guerrieri and J. Vavra) III Slides
Discussant: Joao Cocco (London Business School) III Slides

11.30-12.30 Marco Pagano (University of Naples Federico II and CSEF)
“Banks Exposures and Sovereign Stress Transmission” (joint with C. Altavilla and S. Simonelli) III Slides
Discussant: Tim Eisert (Erasmus University Rotterdam) III Slides

12.30- 13.30 Lunch

Afternoon Sessions - Chair: Morten Ravn (University College London)

13.30 - 14.30 Pontus Rendahl (Cambridge University)
"Fiscal Policy in an Unemployment Crisis" III Slides
Discussant: Vincent Sterk (University College Lonodon) III Slides

14.30 - 15.30 Alp Simsek (MIT)
"Investment Hangover and the Great Recession" (joint with M. Rognlie and A. Shleifer) III Slides
Discussant: Guido Lorenzoni (Northwestern University) III Slides

Martin Eichenbaum (Northwestern University)
Morten Ravn (University College London)
Saverio Simonelli (University of Naples Federico II and CSEF)