System Committee on Macroeconomics 
This Event Has Ended
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
Agenda
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"  Presenter: Toni Braun (FRB-Atlanta) Discussant: John Roberts (Board of Governors) |
| 9:30 | "Targeting Long Rates in a Model with Segmented Markets" 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" 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" 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" 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?" 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" Presenter: Sebastian Infante (Board of Governors) Discussant: Borghan Narajabad (Board of Governors) |
| 4:00 | "The Political Polarization Index" Presenter: Marina Azzimonti (FRB-Philadelphia) Discussant: Andrew Foerster (FRB-Kansas City) |
| 4:45 | "The Magnitude of Menu Costs: A Structural Estimation" 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" Presenter: Mathias Trabandt (Board of Governors) Discussant: Toni Braun (FRB-Atlanta) |
| 9:30 | "Escaping the Great Recession" 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" Presenter: Christian Matthes (FRB – Richmond) Discussant: Ryan Chahrour (Boston College) |
| 11:15 | "Central Bank Credibility and the Persistence of Inflation and Inflation Expectations" Presenter: Scott Davis (FRB – Dallas) Discussant: Keith Sill (FRB – Philadelphia) |
| 12:00 pm | "A Dynamic Model of Leverage and Interest Rates" Presenter: David Rappoport (Board of Governors) Discussant: Jianjun Miao (Boston University) |
| 12:45 | Box lunch and adjourn |