Federal Reserve Bank of San Francisco

Economic Research

Macroeconomic Models for Monetary Policy

March 6, 2009

PDF agenda (PDF – 32kb)
Attendees (PDF – 49kb)

Agenda

8:10 A.M. Continental Breakfast
 
8:50 A.M. Welcoming Remarks:
Janet Yellen, Federal Reserve Bank of San Francisco

Morning Session Chair: John Fernald, Federal Reserve Bank of San Francisco

9:00 A.M. Reset Price Inflation and the Impact of Monetary Policy Shocks(PDF – 394KB)
Presenters:
Mark Bils, University of Rochester
Peter Klenow, Stanford University
Benjamin Malin, Federal Reserve Board
Discussants:
Virgiliu Midrigan, New York University
Ricardo Reis, Columbia University
 
10:20 A.M. Break
 
10:40 A.M. Estimating a Medium-Scale DSGE Model with Expectations Based on Small Forecasting Models (PDF – 946KB)
Presenters:
Sergey Slobodyan, Charles University CERGE and Czech Economics Institute
Raf Wouters, National Bank of Belgium
Discussants:
Marco Del Negro, Federal Reserve Bank of New York
George Evans, University of Oregon
 
12:00 P.M. Lunch — Market Street Dining Room, Fourth Floor
 
Afternoon Session Chair: Eric Swanson, Federal Reserve Bank of San Francisco

1:15 P.M. A Monetary Business Cycle Model With Labor Market Frictions (PDF – 860KB)
Presenters:
Lawrence Christiano, Northwestern University
Mathias Trabandt, European Central Bank and Sveriges Riksbank
Karl Walentin, Sveriges Riksbank
Discussants:
Shin-Ichi Nishiyama, Bank of Canada
Simon Gilchrist, Boston University
 
2:35 P.M. Break
 
2:50 P.M. Optimal Monetary Policy in a Model of the Credit Channel (PDF – 263KB)
Presenters: Fiorella De Fiore, European Central Bank
Oreste Tristani, European Central Bank
Discussants: Vasco Cúrdia, Federal Reserve Bank of New York
Tao Zha, Federal Reserve Bank of Atlanta
 
4:10 Break
4:25 P.M. Potential and Natural Output (PDF – 367KB)
Presenters:
Alejandro Justiniano, Federal Reserve Bank of Chicago
Giorgio Primiceri, Northwestern University
Discussants:
John Leahy, New York University
Carl Walsh, University of California, Santa Cruz
 
5:45 P.M. Reception – West Market Street Lounge, Fourth Floor
 
6:30 P.M. Dinner – Market Street Dining Room, Fourth Floor
Introduction:
Janet Yellen, Federal Reserve Bank of San Francisco
Speaker:
Eric Rosengren, Federal Reserve Bank of Boston