Friday, March 28, 2014

Morning Session Chair: Eric Swanson, Federal Reserve Bank of San Francisco

8:15 a.m. Continental Breakfast
8:50 a.m. Welcoming Remarks

John Williams, President, Federal Reserve Bank of San Francisco

9:00 a.m Learning the Macro-Dynamics of U.S. Treasury Yields With Arbitrage-free Term Structure Models

Marco Giacoletti, Stanford Graduate School of Business
Kristoffer Laursen, Stanford Graduate School of Business
Kenneth Singleton, Stanford Graduate School of Business

Gregory Duffee
, Johns Hopkins University
Jessica Wachter, Wharton School at the University of Pennsylvania

Download discussion presentation (Duffee) (pdf, 679 kb)
Download discussion presentation (Wachter) (pdf, 637 kb)

10:20 a.m. Break


10:40 a.m. Exiting from QE

Fumio Hayashi, Hitotsubashi University
Junko Koeda, University of Tokyo

Roger Farmer
, University of California, Los Angeles
Mark Watson, Princeton University

Download paper (pdf, 311 kb)
Download author presentation (pdf, 191 kb)
Download discussion presentation (Farmer) (pdf, 209 kb)
Download discussion presentation (Watson) (pdf, 662 kb)

12:00 p.m. Lunch – Market Street Dining Room, Fourth Floor

Afternoon Session Chair: Michael Bauer, Federal Reserve Bank of San Francisco

1:15 p.m. Monetary Policy Drivers of Bond and Equity Risks

John Campbell, Harvard University
Carolin Pflueger, University of British Columbia
Luis Viceira, Harvard Business School

Jules van Binsbergen
, Stanford Graduate School of Business
Martin Lettau, Haas School of Business, UC Berkeley

Download paper (pdf, 2.3 mb)
Download author presentation (pdf, 470 kb)
Download discussion presentation (van Binsbergen) (pdf, 281 kb)
Download discussion presentation (Lettau) (pdf, 862 kb)

2:35 p.m. Break
2:50 p.m. Optimal Monetary and Macroprudential Policies: Gains and Pitfalls in a Model of Financial Intermediation

Michael Kiley, Federal Reserve Board
Jae Sim, Federal Reserve Board

Vincenzo Quadrini
, University of Southern California
Oreste Tristani, European Central Bank

Download paper (pdf, 659 kb)
Download author presentation (pdf, 326 kb)
Download discussion presentation (Quadrini) (pdf, 594 kb)

Download discussion presentation (Tristani) (pdf, 168 kb)

4:10 p.m. Break
4:25 p.m. A Theory of Macroprudential Policies in the Presence of Nominal Rigidities

Emmanuel Farhi, Harvard University
Iván Werning, Massachusetts Institute of Technology

Gauti Eggertsson
, Brown University
Anton Korinek, Johns Hopkins University

Download paper (pdf, 303 kb)
Download author presentation (pdf, 4.0 mb)
Download discussion presentation (Eggertsson) (pdf, 157 kb)
Download discussion presentation (Korinek) (pdf, 257 kb)

5:45 p.m. Reception – West Market Street Lounge, Fourth Floor
6:30 p.m. Dinner – Market Street Dining Room, Fourth Floor

Introduction: John Williams, President, Federal Reserve Bank of San Francisco

Speaker: Charles Bean, Deputy Governor, Bank of England

Download speaker presentation (pdf, 293 kb)