Federal Reserve Bank of San Francisco

Economic Research

Conference on Empirical Macroeconomics Using Geographical Data Location: Federal Reserve Bank of San Francisco Janet Yellen Conference Center 101 Market Street San Francisco, CA March 18, 2011

March 18, 2011

On March 18, 2011, the Federal Reserve Bank of San Francisco and the B.E. Journal of Macroeconomics (BEJM) will host a conference exploring the use of geographical data in empirical macroeconomics. The papers to be presented use geographically disaggregated data to explore a range of macroeconomic issues, including wealth effects on consumption, the effectiveness of fiscal and monetary policies, and the impact of banking regulations. The conference will feature luncheon remarks from Hal Varian, Chief Economist of Google, who will discuss the use of internet query and shopping data in the construction of real-time economic indicators, along with some geographical applications. Proceedings from the conference will be published in a special issue of the Advances tier of the BEJM. There is no charge to attend the conference, but advance registration by Friday, March 4 is required. A block of rooms has been reserved at the Hyatt Regency San Francisco, across the street from the San Francisco Fed. The deadline for hotel reservations is February 16.

Agenda

8:30 a.m.

Continental Breakfast


8:55 a.m.

Opening Remarks
Dan Wilson (Federal Reserve Bank of San Francisco)


9:00 a.m.

Session 1: The Local Effects of Monetary Policy
Neville Francis (University of North Carolina)
Michael T. Owyang (Federal Reserve Bank of St. Louis)
Tatevik Sekhposyan (Bank of Canada)
Discussant: Keith Sill (Federal Reserve Bank of Philadelphia)


10:00 a.m.

Coffee Break


10:30 a.m.

Session 2: Banking Conditions and the Effects of Monetary Policy: Evidence from U.S. States
Skander J. Van den Heuvel (Federal Reserve Board of Governors)
Discussant: John Driscoll (Federal Reserve Board of Governors)


11:30 a.m.

Session 3: Interstate Banking Deregulation and Bank Loan Commitments
Ki Young Park (Yonsei University)
Discussant: Alexey Levkov (Federal Reserve Bank of Boston)


12:30 p.m.

Lunch, Market Street Dining Room, 4th Floor
Luncheon Remarks by Hal Varian (Chief Economist, Google)
Remarks Part I
Remarks Part II
“Economic Nowcasting with Search-Engine Data”


2:00 p.m.

Session 4: Measuring Wealth Effects Using U.S. State Data
Xia Zhou (Fannie Mae)
Christopher D. Carroll (Johns Hopkins University)
Discussant: Erik Hurst (Chicago Booth School of Business)


3:00 p.m.

Coffee Break (30 minutes)


3:30 p.m.

Session 5: Fiscal Policy Cyclicality and Growth within the U.S. States
Ayako Kondo (Osaka University)
Justin Svec (College of the Holy Cross)
Discussant: Daniel Wilson (Federal Reserve Bank of San Francisco)


4:30 p.m.

Adjourn


For questions regarding the conference program, please contact Christopher Foote. For questions regarding registration and logistics, please contact Christel Magalong