Friday, November 2, 2007 – Saturday, November 3, 2007
Agenda Download (PDF – 61kb)
| Friday, November 2 | |
| 8:15 a.m. | Continental Breakfast |
| 8:45 a.m. | Welcoming Remarks |
| Janet Yellen, President, Federal Reserve Bank of San Francisco | |
| Morning Session: Financial Innovation and the Consumer | |
|
Chair:
|
John Fernald, Federal Reserve Bank of San Francisco |
| 9:00 a.m. | “On the Sources of the Great Moderation” |
| Authors: | Luca Gambetti, Universitat Autònoma de Barcelona Jordi Galí, CREI and Universitat Pompeu Fabra |
| Discussants: | Mark W. Watson, Princeton University Todd Walker, Indiana University |
|
10:20 a.m.
|
Break |
| 10:40 a.m. | “Technological Diversification” |
| Authors: | Miklós Koren, Federal Reserve Bank of New York Silvana Tenreyro, London School of Economics |
| Discussants: | Jonathan Eaton, New York University David K. Levine, Washington University in St. Louis |
| 12:00 p.m. | Lunch |
| Afternoon Session | |
|
Chair:
|
John Williams, Federal Reserve Bank of San Francisco |
|
1:30 p.m.
|
“Macroeconomic Implications of Changes in Micro Volatility” |
| Authors: | Steven J. Davis, University of Chicago and NBER James A. Kahn, Federal Reserve Bank of New York |
| Discussants: | Nick Bloom, Stanford University Douglas Elmendorf, Brookings Institution |
| 2:50 p.m. | Break |
| 3:20 p.m. | “A Theory of Growth and Volatility at the Aggregate and Firm Level” |
|
Presenter:
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Diego Comin, Harvard Business School and NBER Sunil Mulani, Commonfund Capital, Inc. |
|
Discussants:
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Rasmus Lentz, University of Wisconsin Chad Jones, University of California, Berkeley |
| 4:40 p.m. | “Scale without Mass: Business Process Replication and Industry Dynamics” |
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Authors:
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Erik Brynjolfsson, MIT Sloan Andrew McAfee, Harvard Business School Michael Sorell, Harvard Business School Feng Zhu, Harvard Business School |
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Discussants:
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Zhu Wang, Federal Reserve Bank of Kansas City Shane Greenstein, Kellogg School of Management, Northwestern University |
| 6:00 p.m. | Reception, West Market Street Lounge, Fourth Floor |
| 7:00 p.m. | Dinner, Market Street Dining Room, Fourth Floor |
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Keynote Speaker:
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Robert Shiller, Yale University |
|
Title:
|
“Thoughts on Financial Innovation and Volatility” |
| Saturday, November 3 | |
| 8:30 a.m. | Breakfast |
| Morning Session: Financial Innovations, Risk Sharing and Systemic Risk | |
|
Chair:
|
Dan Wilson, Federal Reserve Bank of San Francisco |
| 9:00 a.m. | “Business Volatility, Job Destruction and Unemployment” |
| Authors: | Steven J. Davis, University of Chicago and NBER R. Jason Faberman, US Bureau of Labor Statistics John Haltiwanger, University of Maryland and NBER Ron Jarmin, Center for Economic Studies, US Census Bureau Javier Miranda, Center for Economic Studies, US Census Bureau |
| Discussants: | John Abowd, Cornell University Robert E. Hall, Stanford University |
| 10:20 a.m. | Break |
| 10:40 a.m. | “The Roles of Comovement and Inventory Investment in the Reduction of Output Volatility” |
| Authors: | Owen Irvine, Michigan State University and Federal Reserve Bank of Boston Scott Schuh, Federal Reserve Bank of Boston |
| Discussants: | Robert Gordon, Northwestern University Valerie Ramey, University of California, San Diego |
| 12:00 p.m. | Lunch |
| 1:00 p.m. | Adjourn |