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Event Recap

The Becker Friedman Institute was pleased to host the Macro Finance Society’s Eighth Macro Finance Workshop.

The society organizes two conferences annually where researchers present recent work at the intersection of financial economics and macroeconomics. The methodological focus is on dynamic structural models that are grounded in data.

The conference began Nov. 3 with two methodological lectures presented by University of Chicago economists. Fernando Alvarez of the Department of Economics spoke on “State and Time-Dependent Models of Price Setting.” Chicago Booth’s Pietro Veronesi presented “Governments and Asset Prices.”

The conference resumed Nov. 4 with an international finance session in honor of the late David Backus. Douglas Diamond of Chicago Booth, a Distinguished Fellow of the society, delivered the keynote address, “Liquidity Requirements, Liquidity Choice, and Financial Stability.”

 

Agenda

Thursday, November 3, 2016
State and Time Dependent Models of Price Setting
Fernando Alvarez, Charles F. Grey Distinguished Service Professor, the Kenneth C. Griffin Department of Economics
Governments and Asset Prices
Pietro Veronesi, Chicago Board of Trade Professor of Finance at the University of Chicago, Booth School of Business
Friday, November 4, 2016
International Finance Session in honor of David Backus
Chair: Michael Chernov
Bond Convenience Yields and Exchange Rate Dynamics
Rosen Valchev (Boston College)
Discussant: Adrien Verdelhan (Massachusetts Institute of Technology Sloan School of Business)
Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy
Wenxin Du (Federal Reserve Bank)
Carolin Pflueger, Associate Professor of Finance, University of British Columbia
Jesse Schreger (Harvard Business School)
Discussant: Juan Carlos Hatchondo (Indiana University)
Keynote Address: Liquidity Requirements, Liquidity Choice and Financial Stability
Douglas W. Diamond, Merton H. Miller Distinguished Service Professor of Finance, Booth School of Business
The Finance-Uncertainty Multiplier
Ivan Alfaro (Ohio State University)
Nicholas Bloom, Professor of Economics, Stanford University
Xiaoji Lin (OSU)
Discussant: Ian Dew-Becker (Northwestern University)
Risk, Unemployment, and the Stock Market: A Rare-Event-Based Explanation of Labor Market Volatility
Mete Kilic (University of Pennsylvania Wharton School)
Jessica A. Wachter (Wharton)
Discussant: Nicolas Petrovsky-Nadeau (Federal Reserve Bank of San Francisco)
The Mortgage Credit Channel of Macroeconomic Transmission
Daniel Greenwald (MIT Sloan)
Amir Sufi, Bruce Lindsay Distinguished Service Professor of Economics and Public Policy, Booth School of Business