Conference on Monetary Economics: Theory, History, and Policy - February 17-18, 2012

Conference to honor the contributions of Warren Weber, senior research officer of the Federal Reserve Bank of Minneapolis

Conference organizer: Will Roberds
Sponsored by the Federal Reserve Banks of Atlanta and Minneapolis
Federal Reserve Bank of Atlanta

Note: This conference is by invitation only.

Papers and Presentations

Friday, February 17

Welcome
Dennis P. Lockhart, President, Federal Reserve Bank of Atlanta

Session 1
Session chair: Pedro Silos, Federal Reserve Bank of Atlanta

"Could the United States Have Had a Better Central Bank: An Historical Counterfactual Speculation" pdf
Presenter: Michael Bordo, Rutgers University Presentation pdf
Discussant: Peter Rousseau, Vanderbilt University Presentation pdf

"A Model of Commodity Money with Minting and Melting" pdf
Presenter: Angela Redish, University of British Columbia Presentation pdf
(Coauthor: Warren Weber)
Discussant: Valerie Bencivenga, University of Texas Presentation pdf

Session 2
Session chair: Tao Zha, Federal Reserve Bank of Atlanta

"Collateral Crises" pdf
Presenter: Gary Gorton, Yale University Presentation pdf
(Coauthor: Guillermo Ordoñez)
Discussant: Todd Keister, Federal Reserve Bank of New York Presentation pdf

Session 3
Session chair: Dave Altig, Federal Reserve Bank of Atlanta

"Capital Requirements in a Quantitative Model of Banking Industry Dynamics" pdf
Presenter: Dean Corbae, University of Wisconsin Presentation pdf
(Coauthor: Pablo D'Erasmo)
Discussant: Charles Kahn, University of Illinois Presentation pdf

"The Return of the Gibson Paradox" pdf
Presenter: Thomas Sargent, New York University Presentation pdf
(Coauthors: Timothy Cogley and Paolo Surico)
Discussant: Larry Christiano, Northwestern University Presentation pdf

Session 4
Session chair: Kei-Mu Yi, Federal Reserve Bank of Minneapolis

"Innovation and Growth with Financial, and Other, Frictions" pdf
Presenter: Randall Wright, University of Wisconsin Presentation pdf
(Coauthors: Césaire Meh and Jonathan Chiu)
Discussant: David Andolfatto, Federal Reserve Bank of St. Louis Presentation pdf

"Idea Flows, Economic Growth, and Trade" pdf
Presenter: Robert Lucas, University of Chicago Presentation pdf
(Coauthors: Fernando Alvarez and Francisco Buera)
Discussant: Edward C. Prescott, Arizona State University and Federal Reserve Bank of Minneapolis

Dinner and after-dinner remarks
Narayana Kocherlakota, President, Federal Reserve Bank of Minneapolis


Saturday, February 18

Session 5
Session chair: Toni Braun, Federal Reserve Bank of Atlanta

"On the Origins of Specie" pdf
Presenter: François Velde, Federal Reserve Bank of Chicago Presentation pdf
Discussant: Cyril Monnet, University of Bern Presentation pdf

"Responding to a Shadow Banking Crisis: The Lessons of 1763" pdf
Presenter: Stephen Quinn, Texas Christian University Presentation pdf
(Coauthor: William Roberds)
Discussant: Ellis Tallman, Oberlin College and Federal Reserve Bank of Cleveland Presentation pdf

Session 6
Session chair: John Robertson, Federal Reserve Bank of Atlanta

"Optimal Inflation in a Model of Inside Money" pdf
Presenter: Neil Wallace, Pennsylvania State University Presentation pdf
(Coauthor: Alexei Deviatov)
Discussant: Ed Nosal, Federal Reserve Bank of Chicago Presentation pdf

"Credit Markets, Limited Commitment, and Government Debt" pdf
Presenter: Stephen Williamson, Washington University in St. Louis Presentation pdf
Discussant: Francesca Carapella, Federal Reserve Board Presentation pdf