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Joint Central Banker's Conference: Unconventional Government Policies - November 16-17, 2012

Conference jointly sponsored by the Bank of Canada, the Swiss National Bank, the Federal Reserve Bank of Cleveland, and the Federal Reserve Bank of Atlanta


Friday, November 16, 2012
8:30 a.m. Continental breakfast
9:00 Welcome remarks
David Altig, Senior Vice President and Director of Research, Federal Reserve Bank of Atlanta
Session 1
9:05 "Banking, Liquidity, and Bank Runs in an Infinite Horizon Economy" PDF icon
Nobuhiro Kiyotaki, Princeton University

Discussant: Steve Williamson, Washington University and Federal Reserve Bank of St. Louis
10:05 Coffee break
10:20 "Can a Transaction Tax or Capital Gains Tax Smooth House Prices?" PDF icon
Enzo Rossi, Swiss National Bank and University of Zurich

Discussant: Mehmet Pasaogullari, Federal Reserve Bank of Cleveland
11:20 Coffee break
11:30 "A Quantitative Model of Banking Industry Dynamics" PDF icon
Dean Corbae, University of Wisconsin

Discussant: John Rust, Georgetown University
12:30 p.m. Lunch
Session 2
1:45 "A Macroeconomic Framework for Quantifying Systemic Risk" PDF icon
Zhiguo He, University of Chicago

Discussant: Josef Schroth, Bank of Canada
2:45 Coffee break
3:00 "A General Equilibrium Model with Banks and Default on Loans" PDF icon
Tamon Takamura, Bank of Canada

Discussant: Pablo D'Erasmo, University of Maryland
4:00 Coffee break
4:30 "The Macroeconomic Effects of Large-Scale Asset Purchase Programs" PDF icon
Andrea Ferrero, Federal Reserve Bank of New York

Discussant: Marcel Savioz, Swiss National Bank
6:00 Conference dinner
Saturday, November 17, 2012
8:30 a.m. Continental breakfast
Session 3
9:00 "International Recessions" PDF icon
Vincenzo Quadrini, University of Southern California

Discussant: Anastasios Karantounias, Federal Reserve Bank of Atlanta
10:00 Coffee break
10:15 "Inflation and Output in New Keynesian Models with a Transient Interest Rate Peg" PDF icon
Charles Carlstrom, Federal Reserve Bank of Cleveland

Discussant: Alex Wolman, Federal Reserve Bank of Richmond
11:15 Coffee break
11:30 "Responding to a Shadow Banking Crisis: The Lessons of 1763" PDF icon
William Roberds, Federal Reserve Bank of Atlanta

Discussant: James Chapman, Bank of Canada
12:30 Boxed lunch