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Eighth Philadelphia Workshop on Monetary and Macroeconomics

March 26-27, 2010
Federal Reserve Bank of Philadelphia


Session I (March 26, 2010)
Chair: Roc Armenter

2:00 p.m.

Fabrizio Mattesini, Cyril Monnet, and Randall Wright
"Banking: A Mechanism Design Approach" PDF (340 KB, 49 pages)

Discussant: Ned Prescott

3:15 p.m.

Todd Keister
"Bailouts and Financial Fragility" PDF (274 KB, 29 pages)

Discussant: Alex Monge-Naranjo

4:30 p.m.

Coffee Break

Session II (March 26, 2010)
Chair: Urban Jermann

4:45 p.m.

Bjorn Brugemann and Iourii Manovskii
"Fragility: A Quantitative Analysis of the US Healthcare System" PDF (460 KB, 57 pages)

Discussant: Marcelo Veracierto

Adjourn and dinner on your own; then gather after dinner at a venue to be named.

Session III (March 27, 2010)
Chair: Marina Azzimonti

10:30 a.m.

Bora─čan Aruoba
"Informal Sector, Government Policy and Institutions" PDF (451 KB, 41 pages)

Discussant: Morris Davis

11:45 a.m.

Peter Rupert and Etienne Wasmer
"Housing and the Labor Market: Time to Move and Aggregate Unemployment" PDF (254 KB, 39 pages)

Discussant: Aysegul Sahin

1:00 - 2:00 p.m.

Box Lunch

Session IV (March 27, 2010)
Chair: Esteban Rossi-Hansberg

2:00 p.m.

Vincenzo Quadrini and Urban Jermann
"Macroeconomic Effects of Financial Shocks" PDF (411 KB, 41 pages)

Discussant: John Leahy

3:15 p.m.

Varadarajan V. Chari and Patrick Kehoe
"Bailouts, Time Consistency and Optimal Regulation" PDF (157 KB, 31 pages)

Discussant: Steve Williamson

4:30 p.m.

Coffee Break

Session V (March 27, 2010)
Chair: Kei-Mu Yi

4:45 p.m.

George Alessandria, Joseph Kaboski, and Virgiliu Midrigan
"The Great Trade Collapse of 2008-09" PDF (431 KB, 58 pages)

Discussant: Fabrizio Perri

7:00 p.m.

Dinner at L2 (22nd and South)
Presenters, Discussants, and Out-of-Town Guests

9:00 p.m.

The Contractions at L2 (22nd and South)
All are invited.