Carnegie-Rochester-NYU Past Conferences
2010-2017 Conferences
The principal objectives of the Conferences are (a) to stimulate policy relevance and empirical research in economic science, (b) to encourage interchange of scientific ideas among analysts with different approaches, and (c) to generate greater understanding by academic economists of practitioners' environments.
Each conference is organized around a particular theme or topic with papers prepared by leading scholars with expertise in the area. Participants are united by their interest in the issues discussed and by their belief that analysis, evidence, and informed discussion have lasting effects on the public and its institutions.
Archives of past conferences also are available here.
2017: The Consequences of Transformative Technical Progress for the Macroeconomy
November 10-11, 2017
Pittsburgh, PA
Program (Download pdf)
Conference Session 1 | November 10, 2017 A.M
Chairman: Sevin Yeltekin- Computerizing Industries and Routinizing Jobs: Explaining Trends in Aggregate Productivity
Authors: Peter Sangmin Aum, Sang Yoon (Tim) Lee, Yongseok Shin
Discussant: Matthias Kehrig - Short-Run Pain, Long-Run Gain? Recessions and Technological Transformation
Authors: Alexandr Kopytov, Nikolai Roussanov and Mathieu Taschereau-Dumouche
Discussant: Henry Siu
Conference Session 2 | November 10, 2016 P.M.
Chairman:Christopher Sleet- New Technologies and the Labor Market
Authors: Enghin Atalay, Phai Phongthiengtham, Sebastian Sotelo and Daniel Tannenbaum
Discussant: Brad Hershbein - Big and Bigger: Big Data in Finance and the Growth of Large Firms
Authors: Juliane Begenau, Maryam Farboodi and Laura Veldkamp
Discussant: Bryan Routledge
Conference Session 3 | November 11, 2017 A.M.
Chairman: Burton Hollifield- Why Has I.T. Grown? Structural Transformation and the Rise of Information Technology
Authors: Giovanni Gallipoli and Christos A. Makridis
Discussant: Benjamin Pugsley - Should We Fear the Robot Revolution?
Authors: Andrew Berg, Ed Buffie, Felipe Zanna
Discussant: Doug Hanley
2016: The Macroeconomics of Liquidity in Capital Markets and the Corporate Sector
November 11-12, 2016
Pittsburgh, PA
Program (Download pdf)
Conference Session 1 | November 11, 2016 A.M
Chairman: Marvin Goodfriend- The Global Rise of Corporate Saving
Authors: Peter Chen, Loukas Karabarbounis and Brent Neiman
Discussant: Andrea Eisfeldt - Bank Liabilities Channel
Authors: Vincenzo Quadrini
Discussant: Egon Zakrajsek
Conference Session 2 | November 11, 2016 P.M.
Chairman: Burton Hollifield- Network Reactions to Banking Regulations
Authors: Selman Erol and Guillermo Ordonez
Discussant: Maryam Farboodi - Liquidity Regulation, Extended Repo, and the Real Economy
Authors: Franklin Allen and Douglas Gale
Discussant: Douglas Diamond
Conference Session 3 | November 12, 2016 A.M.
Chairman: Sevin Yeltekin- Redemption Risk and Procyclical Cash Hoarding by Asset Managers
Authors: Stephen Morris, Ilhyock Shim and Hyun Song Shin
Discussant: Itay Goldstein - Dealer Balance Sheets and Bond Liquidity Provision
Authors: Tobias Adrian, Nina Boyarchenko and Or Shachar
Discussant: Marco Di Maggio
2015: Political Economy, Public Policy and Financial Markets
November 13-14, 2015
Pittsburgh, PA
Program (Download pdf)
Conference Session 1: The Financial and Real Effects of Government Regulation | November 13, 2015 A.M.
Chairman: Marvin Goodfriend- Income Inequality and Asset Prices under Redistributive Taxation
Authors: Lubos Pastor and Pietro Veronesi
Discussant: Philippe Mueller - The Intended and Unintended Consequences of Financial-Market Regulations: A General Equilibrium Analysis
Authors: Adrian Buss, Bernard Dumas, Raman Uppal and Grigory Vilkov
Discussant: Johan Walden
Conference Session 2: The Political Economy of Banking Regulation | November 13, 2015 P.M.
Chairman: Burton Hollifield- Credit Market Frictions and Political Failure
Authors: Madhav Aney, Maitreesh Ghatak and Massimo Morelli
Discussant: Guillermo Ordonez - Bailouts, Moral Hazard and Banks’ Home Bias for Sovereign Debt
Authors: Gaetano Gaballo and Ariel Zetlin-Jones
Discussant: Charlie Kahn
Conference Session 3: Public Policy and Housing Markets | November 14, 2015 A.M.
Chairman: Mark Bils- Lending on Hold: Regulatory Uncertainty and Bank Credit Standards
Authors: Stefan Gissler, Doriana Ruffino and Jeremy Oldfather
Discussant: Nancy Wallace - Phasing Out the GSEs
Authors: Vadim Elenev, Tim Landvoigt and Stijn Van Nieuwerburgh
Discussant: Jack Favilukis
2014: Monetary Policy: An Unprecedented Predicament
November 14-15, 2014
Pittsburgh, PA
Program (Download pdf)
Conference Session 1 | November 14, 2014 A.M.
Chairman: Marvin Goodfriend- When Does a Central Bank’s Balance Sheet Require Fiscal Support?
Authors: Marco Del Negro and Christopher Sims
Discussant: Ricardo Reis - A Probability-Based Stress Test of Federal Reserve Assets and Income
Authors: Jens Christensen, Jose Lopez and Glenn Rudebusch
Discussant: David Archer
Conference Session 2 | November 14, 2014 P.M.
Chairman: Bennett McCallum- On the Stability of Money Demand
Authors: Juan Pablo Nicolini and Robert E. Lucas Jr.
Discussant: Peter Ireland
Collateral Scarcity, Inflation and the Policy Trap: A New Monetarist Perspective
Authors: David Andolfatto and Stephen Williamson
Discussant: Huberto Ennis
Conference Session 3 | November 15, 2014 A.M.
Chairman: Thomas Cooley- Speculative Runs on Interest Rate Pegs
Authors: Marco Bassetto and Christopher Phelan
Discussant: Tim Fuerst - Monetary Policy, Bond Returns and Debt Dynamics
Authors: Antje Berndt and Sevin Yeltekin
Discussant: Carolin Pflueger
2013: A Century of Money, Banking and Financial Instability
November 15-16, 2013
Pittsburgh, PA
Conference Session 1 | November 15, 2013 A.M.
Chairman: Marvin Goodfriend
- On the Social Usefulness of Fractional Reserve Banking
Authors: V. V. Chari and Christopher Phelan
Discussant: Ed Nosal - Regulatory Capture in Banking and Consequences for Financial Market Regulation: A First Look at the Evidence
Authors: David Lucca, Amit Seru and Francesco Trebbi
Discussant: Ed Kane
Conference Session 2 | November 15, 2013 P.M.
Chairman: Thomas Cooley- Testing Macro-prudential Stress Tests: The Risk of Regulatory Risk Weights
Authors: Viral Acharya, Robert Engle and Diane Pierret
Discussant: Deborah Lucas - Predatory Trading and Credit Freeze
Author: Jennifer La’O
Discussant: Richard Lowery
Conference Session 3 | November 16, 2013 A.M.
Chairman:Bennett McCallum- Liquidity Provision, Interest Rates and Unemployment
Authors: Guillaume Rocheteau and Antonio Rodriguez-Lopez
Discussant: Nicolas Petrosky-Nadeau - Can Moral Hazard Be Avoided? The Banque de France and the Crisis of 1889
Authors: Pierre Cyrille Hautcoeur, Angelo Riva and Eugene N. White
Discussant: Stefano Ugolini
2012: Aggregate Implications of Local Public Finance
November 9-10, 2012
Pittsburgh, PA
Conference Session 1 | November 9, 2012 A.M.
Chairman: Marvin Goodfriend- Systemic Sovereign Credit Risk: Lessons from the US and Europe
Authors: Andrew Ang and Francis A. Longstaff
Discussant: Hui Chen - Local Deficits and Aggregate Stabilization: Evidence from US States
Authors: Gerald Carlino and Robert P. Inman
Discussant: David E. Wildasin
Conference Session 2 | November 9, 2012 P.M.
Chairman: Thomas Cooley- The American Recovery and Reinvestment Act: Solely a Government Jobs Program?
Authors: Timothy G. Conley and Bill Dupor
Discussant: Henning Bohn - The Impact of Unions on Municipal Elections and Fiscal Policies in US Cities
Authors: Holger Sieg and Yu Wang
Discussant: Laura Feiveson
Conference Session 3 | November 10, 2012 A.M.
Chairman: Burton Hollifield- Vertical Fiscal Imbalances and Fiscal Performance in Advanced Economies
Authors: Luc Eyraud and Lusine Lusinyan
Discussant: Daniele Coen Pirani - Tax-Subsidized Underpricing: Issuers and Underwriters in the Market for Build America Bonds
Authors: Dario Cestau, Richard Green and Norman Schurhoff
Discussant: Erik R. Sirri
2011: Robust Macroeconomic Policy
November 11-12, 2011
Pittsburgh, PA
Conference Session 1 | November 11, 2011 A.M.
Chairman: Marvin Goodfriend- The Price of Fiscal Uncertainty
Authors: Max Croce and Lukas Schmid
Discussant: Tasos Karantounias - Robust Ramsey Problems
Authors: Lars Hansen and Tom Sargent
Discussant: Sevin Yeltekin
Conference Session 2 | November 11, 2011 P.M.
Chairman: Christopher Sleet- Monetary Policy under Financial Uncertainty
Author: Noah Williams
Discussant: Chris Sims - Robustly Optimal Monetary Policy in a Microfounded Model
Author: Klaus Adam and Mike Woodford
Discussant: Pierpaolo Benigno
Conference Session 3 | November 12, 2011 A.M.
Chairman: Stan Zin- Capital Flows in Times of Crisis: Flight to Quality or Flight from Uncertainty?
Author: Anna Orlik
Discussant: Itamar Drechsler - Robust Policymaking in the Face of Sudden Stops
Author: Eric Young
Discussant: Cristina Arellano
2010: Normalizing Central Bank Practice in Light of the Credit Turmoil
November 12-13, 2010
Pittsburgh, PA
Conference Session 1 | November 12, 2010 A.M.
Chairman: Marvin Goodfriend- Mechanics of a Graceful Exit: Interest on Reserves and Segmentation in the Federal Funds Market
Authors: Morten L. Bech and Elizabeth Klee
Discussant: Craig Furfine - A Model of Liquidity Hoarding and Term Premia in Interbank Markets
Authors: Viral Acharya and David Skeie
Discussant: Huberto Ennis
Conference Session 2 | November 12, 2010 P.M.
Chairman: Christopher Sleet- Complexity, Concentration and Contagion
Authors: Prasanna Gai, Andrew Haldane and Sujit Kapadia
Discussant: Andrew Lo - Monetary Policy and Corporate Default
Authors: Harjoat Bhamra, Adlai Fisher and Lars-Alexander Kuehn
Discussant: Joao Gomes
Conference Session 3 | November 13, 2010 A.M.
Chairman: Mark Bils- Did the Federal Reserve's MBS Purchase Program Lower Mortgage Rates?
Authors: Diana Hancock and Wayne Passmore
Discussant: Burton Hollifield - Securitization Markets and Central Banking: An Evaluation of the Term Asset-Backed Securities Loan Facility (TALF)
Authors: Sean Campbell, Daniel Covitz, William Nelson and Karen Pence
Discussant: Suresh Sundaresan