The Second Boston University/Boston Fed Conference on Macro-Finance Linkages

October 28-29, 2011
Federal Reserve Bank of Boston
600 Atlantic Avenue, Boston MA

The Federal Reserve Bank of Boston and the Department of Economics at Boston University are organizing a conference on recent developments in macroeconomics and finance. The goal of the conference is to improve our understanding of the linkages between the financial markets and the real economy in light of the recent recession.

For more information please contact

Full program pdf
(updated 9/21/11)

  • Agenda
  • Organizers
  • Previous Conference


Friday, October 28, 2011

12:00 – 1:00pm

Welcome and lunch

1:00 – 2:00

Uncertainty Shocks in a Model of Effective Demand pdf
Susanto Basu (Boston College) and Brent Bundick (Boston College)

Presenter: Susanto Basu
Presentation pdf

Discussant: Francois Gourio (Boston University)
Discussion pdf

2:00 – 3:00

Ambiguous Business Cyclesoffsite
Cosmin Ilut (Duke University) and Martin Schneider (Stanford University)

Presenter: Cosmin Ilut
Presentation pdf

Discussant: George-Marios Angeletos (MIT)
Discussion pdf

3:00 – 3:30

Coffee Break

3:30 – 4:30

Financial Markets and Unemployment pdf
Tommaso Monacelli (Università Bocconi) and Vincenzo Quadrini (USC)

Presenter: Vincenzo Quadrini
Presentation pdf

Discussant: Nicolas Petrosky-Nadeau (CMU Tepper) Discussion pdf

4:30– 5:30

Financing Constraints and Unemployment: Evidence from the Great Recession"
Burcu Duygan-Bump (Boston Fed), Alexey Levkov (Boston Fed), and Judit Montoriol-Garriga (Universitat Autònoma de Barcelona)

Presenter: Alexey Levkov
Presentation pdf

Discussant: Simon Gilchrist (Boston University)
Discussion pdf



Saturday, October 29, 2011

8:00 – 8:30am

Welcome and breakfast

8:30 – 9:30

Collateral Crises offsite
Gary Gorton (Yale University) and Guillermo Ordoñez (Yale University)

Presenter: Guillermo Ordoñez
Presentation pdf

Discussant: Alp Simsek (Harvard University)
Discussion pdf

9:30 – 10:30

Do Low Interest Rates Sow the Seeds of Financial Crises?pdf
Simona Cociuba (University of Western Ontario), Malik Shukayev (Bank of Canada), and Alexander Ueberfeldt (Bank of Canada)

Presenter: Simona Cociuba
Presentation pdf

Discussant: Skander J. Van den Heuvel (Board of Governors)
Discussion pdf

10:30 – 11:00

Coffee Break

11:00 – 12:00pm

A Quantitative Model of Banking Industry Dynamics pdf
Dean Corbae (University of Texas at Austin) and Pablo D’Erasmo (University of Maryland)

Presenter: Dean Corbae
Presentation pdf

Discussant: Jeff Campbell (Chicago Fed)
Discussion pdf

12:00 – 1:00

Too-Systemic-To-Fail: What Option Markets Imply About Sector-wide Government Guarantees pdf
Bryan Kelly (Chicago Booth), Hanno Lustig (UCLA Anderson), and Stijn van Nieuwerburgh (NYU Stern)

Presenter: Bryan Kelly
Presentation pdf

Discussant: Satadru Hore (Boston Fed)




José L. Fillat and Ali Ozdagli
Federal Reserve Bank of Boston

Simon Gilchrist and Francois Gourio
Boston University

Previous Conference

The program of last year’s conference, held on November 12 and 13, 2010, can be found here: pdf