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Friday, April 12, and Saturday, April 13, 2013
Federal Reserve Bank of Philadelphia


Friday, April 12, 2013

Session I

9:30 a.m. – 10: 00 a.m.


10:00 a.m. – 12:30 p.m.

Mark Gertler and Nobuhiro Kiyotaki, Banking Liquidity and Bank Runs in an Infinite Horizon Economy Discussant: Marios Angeletos PDF (435 KB, 32 pages)

Lawrence Christiano, Martin Eichenbaum and Mathias Trabandt, Unemployment and Business Cycles Discussant: Iourii Manovskii PDF 793 KB, 60 pages)

12:30 p.m. – 1:30 p.m.


Session II

1:30 p.m. – 4:00 p.m.

Mark Aguiar, Manuel Amador, Emmanuel Farhi and Gita Gopinath, Crisis and Commitment:
Inflation Credibility and Vulnerability to Sovereign Debt Crises
, Discussant: Pablo Nicolini
PDF (442 KB, 45 pages)

Emmanuel Farhi and Ivan Werning, Fiscal Unions, Discussant: Marco Bassetto PDF (492 KB, 55 pages)

4:00 p.m.

15-Minute Coffee Break

Session III

4:15 p.m. – 5:30 p.m.

Gary Hansen, Minchung Hsu and Junsang Lee, Health Insurance Reform: The Impact of a
Medicare Buy-In
, Discussant: Gianluca Violante PDF (201 KB, 32 pages)

Saturday, April 13, 2013

8:30 a.m.


Session IV

9:00 a.m. – 11:30 a.m.

Greg Kaplan and Guido Menzio, Shopping Externalities and Self-Fulfilling Unemployment Fluctuations, Discussant: Jaromir Nosal PDF (394 KB, 59 pages)

Zhen Huo and Victor Rios-Rull, Engineering a Paradox of Thrift Recession, Discussant: Francois Gourio PDF (1.28 MB, 57 pages)

Session V

11:45 a.m. – 1:00 p.m.

Nir Jaimovic and Sergio Rebelo, Nonlinear Effects of Taxation and Growth, Discussant: Francisco Buera PDF (497 KB, 49 pages)



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