System Committee on Macroeconomics System Committee on Macroeconomics

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Thursday, November 21
8:00 a.m. - 5:30 p.m.
Friday, November 22
8:00 a.m. - 12:45 p.m.
Connolly Center, 4th Floor
Federal Reserve Bank of Boston
600 Atlantic Avenue
Boston, MA 02210


Day One - Thursday, November 21, 2013

8:00 am Breakfast
8:30 Welcome & Introductions
8:45 "Small and Orthodox Fiscal Multipliers at the Zero Lower Bound" pdf
Presenter: Toni Braun (FRB-Atlanta)
Discussant: John Roberts (Board of Governors)
9:30 "Targeting Long Rates in a Model with Segmented Markets" pdf
Presenter: Charles Carlstrom (FRB-Cleveland)
Discussant: Han Chen (Board of Governors)
10:15 Break
10:30 "The Effect of Unemployment Duration on Future Earnings and Other Outcomes" pdf
Presenter: Daniel Cooper (FRB –Boston)
Discussant: David Ratner (Board of Governors)
11:15 "Assessing the Effects of Large-Scale Asset Purchases in a Zero-Interest Rate Environment through the Lens of DSGE and VAR Models" pdf
Presenter: Han Chen (Board of Governors)
Discussant: Christian Matthes (FRB-Richmond)
12:00 pm Lunch (New England Room) 4th Floor
1:30 "Commitment versus Discretion in a Political Economy Model of Fiscal and Monetary Policy Interaction" pdf
Presenter: David Miller (Board of Governors)
Discussant: Troy Davig (FRB – Kansas City)
2:15 "Designing a Simple Loss Function for the Fed: Does the Dual Mandate Make Sense?" pdf
Presenter: Jesper Linde (Board of Governors)
Discussant: Tom Tallarini (FRB – Minneapolis)
3:00 Break
3:15 "Repo Collateral Fire Sales: The Effects of Exemption from Automatic Stay" pdf
Presenter: Sebastian Infante (Board of Governors)
Discussant: Borghan Narajabad (Board of Governors)
4:00 "The Political Polarization Index" pdf
Presenter: Marina Azzimonti (FRB-Philadelphia)
Discussant: Andrew Foerster (FRB-Kansas City)
4:45 "The Magnitude of Menu Costs: A Structural Estimation" pdf
Presenter: Andrea Stella (Board of Governors)
Discussant: Ed Knotek (FRB- Cleveland)
5:30 Reception (Harborview Dining Room) 31st Floor

Day Two - Friday, November 22, 2013

8:00 am Breakfast
8:45 "Fiscal Multipliers in a Nonlinear World" pdf
Presenter: Mathias Trabandt (Board of Governors)
Discussant: Toni Braun (FRB-Atlanta)
9:30 "Escaping the Great Recession" pdf
Presenter: Leonardo Melosi (FRB- Chicago)
Discussant: Dario Caldara (Board of Governors)
10:15 Break
10:30 "Indeterminacy and Learning: An Analysis of Monetary Policy in the Great Inflation" pdf
Presenter: Christian Matthes (FRB – Richmond)
Discussant: Ryan Chahrour (Boston College)
11:15 "Central Bank Credibility and the Persistence of Inflation and Inflation Expectations" pdf
Presenter: Scott Davis (FRB – Dallas)
Discussant: Keith Sill (FRB – Philadelphia)
12:00 pm "A Dynamic Model of Leverage and Interest Rates" pdf
Presenter: David Rappoport (Board of Governors)
Discussant: Jianjun Miao (Boston University)
12:45 Box lunch and adjourn