With joint authors, an * denotes presenting author.

THURSDAY, NOVEMBER 7

RECEPTION: The Slip Lounge in the Holiday Inn
8:00 pm -- 10:00 pm




FRIDAY, NOVEMBER 8

Coffee, Tea, Muffins, Donuts
8:30 - 9:00

Session I:  FISCAL POLICY
9:00 - 10:30

Chair/president:  Gregor Smith,  Queen's University

``Replicating Ricardian Equivalence Tests with Simulated Series"
EMANUELA CARDIA, Universite de Montreal

``Estimating the Savings from Optimal Fiscal Risk Management"
HUW LLOYD-ELLIS* and XIAODONG ZHU, University of Toronto

Discussants/commentateurs:
ANGELO MELINO, University of Toronto
ALAIN PAQUET, Universite du Quebec a Montreal

Coffee
10:30-10:45

Session II:  OPEN ECONOMY MACRO I
10:45 - 12:15

Chair/president:  Beverly Lapham, Queen's University

``Oil and the Volatility of the Terms of Trade"
DAVID BACKUS, New York University and 
MARIO CRUCINI*, Ohio State University

``International Business Cycle Models with Endogenous Market Incompleteness"
PATRICK KEHOE* and FABRIZIO PERRI University of Pennsylvania

Discussants/commentateurs:  
CHRISTIAN ZIMMERMANN, Universite du Quebec a Montreal
STEVE AMBLER, Universite du Quebec a Montreal


Lunch at the University Club
12:15 - 2:00


Session III: TOPICS IN FINANCIAL ECONOMICS
2:00 - 3:30

Chair/president:  Louis Phaneuf, Universite du Quebec a Montreal

``Persistent Idiosyncratic Income Shocks and Incomplete Markets"
KJETIL STORESLETTEN, Stockholm University, CHRIS TELMER*,  
Carnegie Mellon University, and AMIR YARON, 
Carnegie Mellon University

``Irreversible Investment, Financing Choice, and Asymmetric Corporate Taxation"
MIQUEL FAIG*, University of Toronto and PAULINE SHUM, Atkinson College

Discussants/commentateurs:  
RENE GARCIA, Universite de Montreal
HUNTLEY SCHALLER, Carleton University


Coffee, Tea, Cookies
3:30 - 4:00

Session IV:  FRICTIONS
4:00 - 5:30

Chair/president:  Anthony Smith, Carnegie Mellon University

``Inflation, Welfare, and the Time-Costs of Transacting"
DAVID LOVE*, Brock University and JEAN-FRANCOIS WEN,  Wilfrid 
Laurier University

``Can the Mortensen-Pissarides Matching Model 
   Match the Business Cycle Facts?"
RICHARD ROGERSON*, University of Minnesota and HAL COLE, Federal 
Reserve Bank of Minneapolis

Discussants/commentateurs: 
JEANNINE FARAZLI, University of Calgary
PATRICK FRANCOIS, Queen's University




SATURDAY, NOVEMBER 9

Coffee, Tea, Muffins, Donuts
8:30 - 9:00

Session V:  OPEN ECONOMY MACRO II
9:00 - 10:30

Chair/president:  Shouyong Shi, Queen's University

``Financial Market Frictions, Monetary Policy, 
   and Capital Accumulation in a Small Open Economy"
BRUCE SMITH, Cornell University and ELISABETH HUYBENS*, 
Centro de Investigacion Economica

"How do Non-tradable Goods Matter for Current 
   Account Fluctuations?"
JAMES NASON*, University of British Columbia and
JOHN ROGERS, Board of Governors of the Federal Reserve System

Discussants/commentateurs:  
MERWAN ENGINEER, University of Victoria
MARTIN BOILEAU, University of Toronto

Coffee
10:30 - 10:45

Session VI: TECHNOLOGICAL CHANGE
10:45 - 12:15

Chair/president:  Per Krusell, University of Rochester

``Exploring General Equilibrium Implications 
   of Skill-Based Technological Change"
PAUL BEAUDRY and MICHAEL DEVEREUX*, University of British Columbia


``1974"
JEREMY GREENWOOD*, University of Rochester and MEHMET YORUKOGLU, 
University of Chicago
 
Discussants/commentateurs:  
DESIRE VENCATACELLUM, Ecole des HEC, Universite de Montreal
ALOK JOHRI, McMaster University

Lunch in the Foyer
12:15 - 2:00


Session VII: MONETARY POLICY
2:00 - 3:30

Chair/president: Simon van Norden, Bank of Canada

``Monetary Policy Regimes, Beliefs, and Economic Activity"
DAVID ANDOLFATTO, University of Waterloo, and PAUL GOMME*,
Simon Fraser University

``The Liquidity Effect Revisited"
MICHEL NORMANDIN* and LOUIS PHANEUF, Universite du Quebec a  Montreal

Discussants/commentateurs:  
DON COLETTI, Bank of Canada
PIERRE SIKLOS, Wilfrid Laurier University


Coffee, Tea, Cookies
3:30 - 4:00

Session VIII:  LABOUR ECONOMICS
4:00 - 5:30

Chair/president:  Allen Head, Queen's University

``Unemployment Insurance Analysis in a Search Economy"
GUANG-JIA ZHANG, University of Guelph

``Welfare Effects of Job Security 
Provisions Under Imperfect Insurance Markets"
FERNANDO ALVAREZ, University of Pennsylvania & MARCELO VERACIERTO*, 
Cornell University

Discussants/commentateurs:  
JOHN KENNES, University of Victoria
DAVID ANDOLFATTO, Waterloo University

We are grateful to the Bank of Canada, the Bank Credit Analyst Research Group, the Conference Board of Canada, the Department of Economics at Queen's University, the Ministry of Finance of the Government of Canada, ITP Nelson Publishers, and Oxford University Press for financial support. We also wish to thank Sharon Sullivan of the John Deutsch Institute for assistance with local arrangements.