CMSG

Vingtième rencontre annuelle du
Groupe d'étude canadien en macroéconomique

Twentieth Annual Meeting of the
Canadian Macroeconomics Study Group

PROGRAMME / PROGRAM

VENDREDI 3 NOVEMBRE

FRIDAY, NOVEMBER 3


8:00 - 8:30	Petit déjeuner et inscription / Breakfast and registration

8:30 - 10:00	Session I: CREDIT MARKETS Présidente/Chair: Emanuela CARDIA (Université de Montréal, CIREQ)

	André KURMANN, Nicolas Petrovski-Nadeau (Université du Québec à Montréal) Credit Market Frictions with Costly Capital Reallocation as a Propagation Mechanism Commentateur/Discussant: Beverly LAPHAM (Queen's University) Francisco COVAS (Bank of Canada), Wouter Den Haan (London Business School) The Role of Debt and Equity Finance over the Business Cycle Commentateur/Discussant: Antonio FALATO (HEC Montréal & University of Maryland)

10:00 - 10:15	Pause / Break

10:15 - 11:45	Session II: LOCATION Président/Chair: Marc-André LETENDRE (McMaster University)

	Elizabeth CAUCUTT (University of Western Ontario), Thomas Cooley (New York University), Nezih Guner (Universidad Carlos III) The Farm, the City, and the Emergence of Social Security Commentateur/Discussant: Stéphane PALLAGE (Université du Québec à Montréal) Berthold HERRENDORF (Arizona State University), James Schmitz (Federal Reserve Bank of Minneapolis), Arilton Teixeira (Fundacão Capixaba de Pesquisa) Exploring the Implications of Large Decreases in Transportation Costs Commentateur/Discussant: Diego RESTUCCIA (University of Toronto)

11:45 - 13:30	Lunch

13:30 - 14:15	CEA KEYNOTE ADDRESS Président/Chair: Francisco RUGE-MURCIA (Université de Montréal, CIREQ) Larry CHRISTIANO (Northwestern University) The Money and Credit in Monetary Policy

14:15 - 14:30	Pause / Break

14:30 - 16:00	Session III: HETEROGENEOUS AGENTS Présidente/Chair: Margarida DUARTE (University of Toronto)

	Martin GERVAIS (University of Western Ontario), Jonas Fisher (Federal Reserve Bank of Chicago) First-Time Home Buyers and the Decline in Aggregate Volatility Commentateur/Discussant: Hajime TOMURA (Bank of Canada) Burhanettin KURUSCU, Fatih Guvenen (University of Texas) Ben-Porath Meets Skill-Biased Technical Change: A Theoretical Analysis of Rising Inequality Commentateur/Discussant: Gueorgui KAMBOUROV (University of Toronto)

16:00 - 16:15	Pause / Break

16:15 - 17:45	Session IV: BUSINESS CYCLES AND TAXATION Président/Chair: Hashmat KHAN (Carleton University)

	Henry SIU (University of British Columbia), Nir Jaimovich (Stanford University) The Young, the Old, and the Restless: Demographics and Business Cycle Volatility Commentateur/Discussant: Karen KOPECKY (University of Western Ontario) Mike GOLOSOV, Daron Acemoglu (MIT), Aleh Tsyvinski (Harvard University) Market versus Governments: Political Economy of Mechanisms Commentateur/Discussant: Paul KLEIN (University of Western Ontario)

17:45-19:15	Cocktail


SAMEDI 4 NOVEMBRE	SATURDAY, NOVEMBER 4

8:30 - 9:00	Petit déjeuner / Breakfast

9:00 - 10:30	Session V: BUSINESS CYCLES Président/Chair: Hafedh BOUAKEZ (HEC Montréal, CIREQ)

	Paul BEAUDRY (University of British Columbia), Fabrice Collard, Franck Portier (Université de Toulouse) Gold Rush Fever in Business Cycles Commentateur/Discussant: Larry JONES (University of Minnesota) B. RAVIKUMAR (University of Iowa), Paul Gomme (Concordia University), Peter Rupert (University of Western Ontario & Federal Reserve Bank of Cleveland) The Return to Capital and the Business Cycle Commentateur/Discussant: David ANDOLFATTO (Simon Fraser University)

10:30 - 10:45	Pause / Break

10:45 - 12:15	Session VI: BANK OF CANADA SESSION ON MONETARY POLICY Président/Chair: Jack SELODY (Advisor to the Governor, Bank of Canada)

	Jinill KIM, Andrew Levin, Tack Yun (Board of Governors) Diagnosing and Treating Bifurcations in Perturbation Analysis of Dynamic Macro Models Commentateur/Discussant: Jean BOIVIN (HEC Montréal) Julia THOMAS (University of Minnesota), Aubhik Khan (Federal Reserve Bank of Philadelphia) Inflation and Interest Rates with Endogenous Market Segmentation Commentateur/Discussant: Igor LIVSHITS (University of Western Ontario)

12:15 - 14:00	LUNCH

14:00 - 16:15	Session VII: BRUCE D. SMITH SESSION ON MONETARY THEORY Président/Chair: Alessandro RIBONI (Université de Montréal)

	Miquel FAIG (University of Toronto), Belen Jerez (Universidad Carlos III) Precautionary Balances and the Velocity of Circulation of Money Commentateur/Discussant: Ed NOSAL (Federal Reserve Bank of Cleveland) Allen HEAD, Beverly Lapham (Queen's University) Search, Market Power, and International Prices Commentateur/Discussant: Miguel MOLICO (Bank of Canada) S. Boragan ARUOBA (University of Maryland), Christopher Waller (University of Notre Dame), Randall Wright (University of Pennsylvania) Money and Capital Commentateur/Discussant: Gabriele CAMERA (Purdue University)

16:15 - 16:30	Pause / Break

16:30 - 17:15	Session VIII: THE FAMILY Président/Chair: Martin BOILEAU (University of Colorado)

	John KNOWLES (University of Pennsylvania) Why are Married Men Working so Much? Commentateur/Discussant: Shannon SEITZ (Boston College)

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