Programme and Papers

Cambridge

May 9-10, 2014

King’s College, Cambridge

Programme
(Presenters indicated in Bold)

Friday 9 May

08:00 – Registration and Coffee

8:45-9:00 – Welcome and Opening Remarks

09:00-09:50
"Take the Short Route: How to Repay and Restructure Sovereign Debt with Multiple Maturities" by Mark Aguiar (Princeton University), Manuel Amador (Federal Reserve Bank of Minneapolis)

Discussant: Stéphane Guibaud (London School of Economics)

09.50-10:40
"Managing Credit Bubbles" by Alberto Martin (CREI and CEPR) and Jaume Ventura (CREI and CEPR)

Discussant: François Geerolf (Toulouse School of Economics)

10:40-11:00   Coffee Break

11:00-11:50
"Inflating Away the Public Debt? An Empirical Assessmentby Jens Hilscher (Brandeis University), Alon Raviv (Brandeis University) and Ricardo Reis (Columbia University and CEPR)

Discussant: Elisa Faraglia (University of Cambridge and CEPR)

11:50-12:40
"The Safety Trap", by Ricardo Caballero (MIT) and Emmanuel Farhi (Harvard University and CEPR)

Discussant: Klaus Adam (University of Mannheim and CEPR)

12:40-14:00  Lunch break

14:00-14:50
"The Expected Inflation Channel of Government Spending in the Postwar U.S." by William Dupor (Federal Reserve Bank of St Louis) and Rong Li (Ohio State University)

Discussant: Rüdiger Bachmann (Goethe University and CEPR)

14:50-15:40
"Credit Spreads and Credit Policies" by Isabel Correia (Banco de Portugal and CEPR), Fiorella De Fiore (ECB), Pedro Teles (Banco de Portugal and CEPR) and Oreste Tristani (ECB)

Discussant: Antonio Mele (University of Surrey)

15:40-16:00 Coffee Break

16:00-16:50 
"Sovereigns versus Banks: Credit, Crises and Consequences by Oscar Jorda (Federal Reserve of San Francisco), Moritz Schularick (University of Bonn and CEPR) and Alan Taylor (University of California Davis and CEPR) 

Discussant: Nicola Gennaioli (Bocconi University and CEPR)

17:00-18:15  Policy Panel

Mark Aguiar (Princeton University)
Frank Smets (ECB and CEPR)
Coen Teulings (University of Cambridge and CEPR)
Giancarlo Corsetti (University of Cambridge and CEPR) – Moderator

19:00 Dinner: King’s College (By invitation only)

Saturday 10 May

09:00-09:50
"Bank Portfolio Choice and Regulatory Constraints" by Jochen Mankart (University of St. Gallen), Alexander Michaelides (Imperial College and CEPR) and Spyros Pagratis (Athens University of Economics and Business)

Discussant: Vania Stavrakeva (London Business School)

09:50-10:40 
"Breaking the Spell with Credit-Easing: Self-Confirming Credit Crises in Competitive Search Economies Gaetano Gaballo (Banque de France) and Ramon Marimon (European University Institute and CEPR)

Discussant: Marco Bassetto (University College London) 

10:40-11:00 Coffee Break

11:00-11:50
"Sticky Leverage by Joao Gomes (Wharton), Urban Jermann (Wharton) and Lukas Schmid (Duke University) 

Discussant: Andrea Ferrero (University of Oxford) 

11:50-12:40
"Capital Regulation in a Macroeconomic Model with Three Layers of Default” by Laurent Clerc (Banque de France), Alexis Derviz (Czech National Bank), Caterina Mendicino (Banco de Portugal), Stéphane Moyen (Bundesbank), Kalin Nikolov (ECB), Livio Stracca (ECB), Javier Suarez (CEMFI and CEPR), Alexandros Vardoulakis (Federal Reserve Board)

Discussant: Rafael Wouters (National Bank of Belgium)

12:40-14:00 Lunch

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Organisers: Klaus Adam (University of Mannheim and CEPR); Giancarlo Corsetti (University of Cambridge and CEPR); Elisa Faraglia (University of Cambridge and CEPR) and Albert Marcet (Institut d'Anàlisi Econòmica CSIC, ICREA, BGSE and CEPR).

 

Timing: 30 minutes for presenter, 10 minutes for discussants, 10 for general audience.