Schedule

Subscribe to RSS Feed

2015
Wednesday, July 22nd
8:30 AM

Registration and Coffee

8:30 AM - 9:15 AM

9:15 AM

Opening Remarks and Welcome Address

Paul Schreyer, OECD

9:15 AM - 9:30 AM

9:30 AM

Parallel Sessions A: New Methods for Constructing Price Indexes for Commercial and Residential Property

Sunk Costs and the Measurement of Commercial Property Depreciation

Erwin Diewert, University of British Columbia and University of New South Wales
Kevin J. Fox, University of New South Wales

9:30 AM - 10:00 AM

Parallel Sessions A: New Methods for Constructing Price Indexes for Commercial and Residential Property

Housing Rent in the Japanese CPI: Bias from Nominal Rigidity of Rents

Chihiro Shimizu, National University of Singapore
Satoshi Imai, Statistics Bureau of Japan
Tsutomu Watanabe, University of Tokyo

9:30 AM - 11:30 AM

Parallel Sessions A: New Methods for Constructing Price Indexes for Commercial and Residential Property

Using Smoothing Methods in the Computation of Hedonic Imputed Price Indexes for Properties and their Land and Structure Components

Alicia Rambaldi, University of Queensland
Ryan R.J. McAllister, CSIRO
Cameron S. Fletcher, CSIRO

9:30 AM - 11:30 AM

Parallel Sessions A: New Methods for Constructing Price Indexes for Commercial and Residential Property

Accounting for Spatial Variation of Land Prices in Hedonic Imputation House Price Indexes: A Semiparametric Approach

Jan de Haan, Netherlands and Delft University of Technology
Yunlong Gong, Delft University of Technology

9:30 AM - 11:30 AM

Parallel Sessions B: Applied General Equilibrium Theory

Errors in Variables: Comments on the State of Economic Science

Stephen E. Spear, Carnegie Mellon University

9:30 AM - 11:30 AM

Parallel Sessions B: Applied General Equilibrium Theory

Beyond Laissez-faire: The Case of Heterogeneous Priors

Mich Tvede, University of Newcastle

9:30 AM - 11:30 AM

Parallel Sessions B: Applied General Equilibrium Theory

The Law of Proportionality of Factor Contents, Reality or Artifact of CGE Modeling

Octavio Tourinho, State University of Rio de Janeiro
Yves Balasko, University of York

9:30 AM - 11:30 AM

Parallel Sessions B: Applied General Equilibrium Theory

Product market competition and the severity of distressed asset sales

Vinicius Carrasco, PUC_Rio de Janeiro

9:30 AM - 11:30 AM

Parallel Sessions C: RAstaNews Special Session on Macro-financial Imbalances in the Euro Area

Discovering SIFIs, a Temporal Complex Approach

Alessandro Spelta, Catholic University of Milan
Pablo Kaltwasser, University of Leuven

9:30 AM - 11:30 AM

Parallel Sessions C: RAstaNews Special Session on Macro-financial Imbalances in the Euro Area

The Financial Kuznets Curve: Evidence for the Euro Area

Donatella Baiardi, University of Milan - Bicocca
Claudio Morana, University of Milan - Bicocca

9:30 AM - 11:30 AM

Parallel Sessions C: RAstaNews Special Session on Macro-financial Imbalances in the Euro Area

GIPSI in the Euro Area. An Empirical DSGE Model

Alice Albonico, University of Milan - Bicocca
Alessia Paccagnini, University of Milan - Bicocca
Patrizio Tirelli, Università Milano Bicocca

9:30 AM - 11:30 AM

Parallel Sessions C: RAstaNews Special Session on Macro-financial Imbalances in the Euro Area

In Search of the Eurozone Global Fiscal Stance

Patrizio Tirelli, University of Milan - Bicocca
Alice Albonico, University of Milan - Bicocca
Alessia Paccagnini, University of Milan - Bicocca

9:30 AM - 11:30 AM

Parallel Sessions D: Reaching for Sense in Large Bodies of Data

Statistical and Supervisory Data Standards

Michal Piechocki
Karla McKenna
Michal Skopowski

9:30 AM - 11:30 AM

Parallel Sessions D: Reaching for Sense in Large Bodies of Data

ACTUS: A Data Standard That Enables Forward-Looking Analysis

Allan Mendelowitz
Willi Bramertz
Wolfgang Breymann, Zurich Univeristy of Applied Sciences

9:30 AM - 11:30 AM

Parallel Sessions D: Reaching for Sense in Large Bodies of Data

Social and Technical Infrastructure for Managing Data on a Global Scale

Larry Lannom, Center for National Research Initiatives
Giridhar Manipalli, Center for National Research Initiatives

9:30 AM - 11:30 AM

Parallel Sessions D: Reaching for Sense in Large Bodies of Data

A Report on the Federal Reserve’s Efforts to Better Assess Economic Activity

Norman J. Morin, Board of Governors, Federal Reserve
John J. Stevens, Board of Governors, Federal Reserve

9:30 AM - 11:30 AM

Parallel Sessions E: New Research on Intangibles

Cross-Country Income Differences Revisited: Accounting for the Role of Intangible Capital

Wen Chen, University of Groningen

9:30 AM - 11:30 AM

Parallel Sessions E: New Research on Intangibles

Organizational Capital, R&D Assets, and Offshore Outsourcing

Wendy C.Y. Li, Bureau of Economic Analysis

9:30 AM - 11:30 AM

Parallel Sessions E: New Research on Intangibles

Valuing ‘Free’ Media Across Counties in GDP

Rachel Soloveichik, Bureau of Economic Analysis
Leonard Nakamura, Philadelphia Federal Reserve Bank

9:30 AM - 11:30 AM

Parallel Sessions E: New Research on Intangibles

Private and Public Intangible Capital: Productivity Growth and New Policy Challengers

Cecilia Jona-Lasinio, Istituto Nazionale di Statistica

9:30 AM - 11:30 AM

Parallel Sessions F: Productivity and Structural Policies

Fiscal and Structural Reforms in DSGE Models: Long-term and Short-term Analysis

Aurelien Poissonnier, Insee-Crest-Ecole Polytechnique
Olfa Alouni, European Commission
Benoit Campagne, Insee-Crest

9:30 AM - 11:30 AM

Parallel Sessions F: Productivity and Structural Policies

Offshoring, Biased Technical Change and the Increasing Capital Share: an Analysis of Global Manufacturing Production

Marcel P. Timmer, University of Groningen
Xianjia Ye, University of Groningen

9:30 AM - 10:30 AM

Parallel Sessions F: Productivity and Structural Policies

Product and Labor Market Regulations, Production Prices, Wages and Productivity

Gilbert Cette, Banque de France
Jimmy Lopez Universite de Dijon
Jacques Mairesse, CREST

9:30 AM - 11:30 AM

Parallel Sessions F: Productivity and Structural Policies

The Impact of Structural Policies on Productivity: New Evidence from Macroeconomic Estimates

Balazs Egert, OECD

9:30 AM - 11:30 AM

11:30 AM

Coffee Break

11:30 AM - 12:00 PM

Poster Session A (Posters will be up throughout the conference)

Outside Lending in the NYC Call Loan Market

Jon R. Moen, University of Mississippi Main Campus
Ellis W. Tallman, Oberlin College

11:30 AM - 12:00 PM

Poster Session A (Posters will be up throughout the conference)

The Behavior of Interest Rates and Exchange Rates: Assessing the merits of Monetary Policy Coordination Among Emerging Economies

Semih Cekin
Menelik Geremew

11:30 AM - 12:00 PM

Poster Session A (Posters will be up throughout the conference)

The Shadow Rate of Interest, Macroeconomic Trends, and Time{Varying Uncertainty

Elmer Mertens, Federal Reserve Board of Governors
Benjamin K. Johannsen, Federal Reserve Board of Governors

11:30 AM - 12:00 PM

12:00 PM

Presidential Address

Robustness of Dynamical Inferences to Measurement Error

William A. Barnett, University of Kansas, Lawrence, and Center for Financial Stability, New York City

12:00 PM - 1:00 PM

1:00 PM

Conference Lunch

1:00 PM - 2:30 PM

2:30 PM

Parallel Sessions A: Reproducible Research on Private and Proprietary Data

Reproducible Research: the Need for Data Access

Stefan Bender, Deutsche Bundesbank

2:30 PM - 4:30 PM

Parallel Sessions A: Reproducible Research on Private and Proprietary Data

Privacy, Big Data, and Public Access: Frameworks for Engagement

Julia Ingrid Lane, American Institutes for Research

2:30 PM - 4:30 PM

Parallel Sessions A: Reproducible Research on Private and Proprietary Data

The Economics of Privacy

Daniel Goroff, Alfred P. Sloan Foundation

2:30 PM - 4:30 PM

Parallel Sessions A: Reproducible Research on Private and Proprietary Data

Reproducibility and Privacy from an Informatics Perspective (NOT FRI. PM)

Micah Altman, Massachusetts Institute of Technology

2:30 PM - 4:30 PM

Parallel Sessions B: Residential and Commercial Real Estate Price Indexes

Alternative Approaches to Commercial Property Price Indexes for Tokyo

Erwin Diewert, University of British Columbia
Chihiro Shimizu, Reitaku University

2:30 PM - 4:30 PM

Parallel Sessions B: Residential and Commercial Real Estate Price Indexes

Going Beyond Averages: Quantile-Specific House Price Indices

Sofie Waltl, University of Graz

2:30 PM - 3:30 PM

Parallel Sessions B: Residential and Commercial Real Estate Price Indexes

Age, Time, Depreciation and House Prices: A Hedonic Imputation Approach

Iqbal Syed, University of New South Wales
Jan de Haan, Statistics Netherlands and Delft University of Technology

2:30 PM - 4:30 PM

Parallel Sessions B: Residential and Commercial Real Estate Price Indexes

Using Kalman Filters and Geospatial Splines to Improve House Price Indexes: A Hedonic Imputation Approach

Michael Scholz, University of Graz
Robert J. Hill, University of Graz
Alicia Rambaldi, University of Queensland

2:30 PM - 4:30 PM

Parallel Sessions C: Financial Structure and Economic Volatility

Endogenous Credit and Investment Cycles with Asset Price Volatility

Francesco Carli, Catolica Lisbon - Protugal
Leonor Modesto, Catolica Lisbon - Portugal

2:30 PM - 4:30 PM

Parallel Sessions C: Financial Structure and Economic Volatility

Information Insensitive Securities: The Benefits of Central Counterparties

Francesca Carapella, Board of Governors, U.S. Federal Reserve
David Mills, Board of Governors, U.S. Federal Reserve

2:30 PM - 4:30 PM

Parallel Sessions C: Financial Structure and Economic Volatility

Measuring Systemicness in the U.S. Insurance Industry

Anton Badev, Board of Governors, U.S. Federal Reserve

2:30 PM - 4:30 PM

Parallel Sessions C: Financial Structure and Economic Volatility

Self-fulfilling Runs: Evidence from the US Life Insurance Industry

Stephane Verani, Board of Governors, U.S. Federal Reserve
Nathan Foley-Fisher, Board of Governors, U.S. Federal Reserve
Borghan Narajabad, Board of Governors, U.S. Federal Reserve

2:30 PM - 4:30 PM

Parallel Sessions D: Measuring Capital and Wealth

National Accounting and the Valuation of Ecosystem Assets and Their Services

Carl Obst, University of Melbourne
Lars Hein, University of Wageningen
Bram Edens, Statistics Netherlands

2:30 PM - 4:30 PM

Parallel Sessions D: Measuring Capital and Wealth

Human Capital

Mary O'Mahony, Kings College

2:30 PM - 4:30 PM

Parallel Sessions D: Measuring Capital and Wealth

Public Capital: Measurement Issues

Matilde Mas, IVIE and University of Valencia

2:30 PM - 4:30 PM

Parallel Sessions D: Measuring Capital and Wealth

Accounting for the inclusive wealth of nations: empirical evidence

Pablo Munoz, United Nations University

2:30 PM - 4:30 PM

Parallel Sessions E: Advances in Integration of Large System Economic Data: Theory and Practice

'Bayesian' Orientation of SNA and Satellite Accounts in Compilation and Analysis

Jan W. van Tongeren, Tilburg University
Arjan Bruil, Central Bureau for Statistics, Netherlands

2:30 PM - 4:30 PM

Parallel Sessions E: Advances in Integration of Large System Economic Data: Theory and Practice

Wavelet Benchmarking with Seasonal Adjustment

Homesh Sayal, University of Cambridge
John Aston, University of Cambridge
Duncan Elliott, Office of National Statistics
Hernando Ombao, University of California - Irvine
Jennifer Davies, Office of National Statistics

2:30 PM - 4:30 PM

Parallel Sessions E: Advances in Integration of Large System Economic Data: Theory and Practice

Solving Large Data Consistency Problems at Statistics Netherlands Using Macro Integration Techniques

Nino Mushkudiani, Central Bureau for Statistics, Netherlands
Jacco Daalmans, Central Bureaus for Statistics, Netherlands
Reinier Bikker, Central Bureau for Statistics, Netherlands

2:30 PM - 5:30 PM

Parallel Sessions E: Advances in Integration of Large System Economic Data: Theory and Practice

Simultaneous Reconciliation of Large Disaggregated Time Series of Accounts after a Benchmark Revision with an Application to the U.S. Input-output Accounts

Baoline Chen, Bureau of Economic Analysis
Tommaso di Fonzo, University of Padova
Marco marini, International Monetary Fund

2:30 PM - 4:30 PM

Parallel Sessions F: RAstaNews special session on Advances in Macro-Financial Stress Assessment

Foreign Currency Borrowing in Hungary: the Pricing Behavior of Banks

Zoltan Schepp, University of Pecs
Monika Pitz, University of Pecs

2:30 PM - 4:30 PM

Parallel Sessions F: RAstaNews special session on Advances in Macro-Financial Stress Assessment

Inflation and Professional Forecast Dynamics: An Evaluation of Stickiness, Persistence, and Volatility

Elmar Mertens, Federal Reserve Board
James Nason, North Caroline State University

2:30 PM - 4:30 PM

Parallel Sessions F: RAstaNews special session on Advances in Macro-Financial Stress Assessment

Forecast Efficiency in Two Dimensions

Dean Croushore, University of Richmond
Katherine Marsten, Federal Reserve Board

2:30 PM - 4:30 PM

Parallel Sessions F: RAstaNews special session on Advances in Macro-Financial Stress Assessment

Long Waves in External Imbalances, Credit Growth and Asset Prices: An Historical Perspective on Global Financial Crisis

Marco Gallegati, Polytechnic University of Marche and eCampus online University

2:30 PM - 12:30 AM

4:30 PM

Coffee Break

4:30 PM - 5:00 PM

5:00 PM

Plenary Session

Labour Supply and Taxation: A New Look

Guy Laroque, University College London and Sciences Po

5:00 PM - 6:00 PM

Thursday, July 23rd
9:00 AM

Parallel Sessions A: Wealth and Occupational Persistence Across Time and Space

Intergenerational Occupational Mobility Across Six Generations in the U.S., 1850-2000

Joseph P. Ferrie, Northwestern University
Catherine G. Massey, U.S. Census Bureau
Jonathan L. Rothbaum, U.S. Census Bureau

9:00 AM - 11:00 AM

Parallel Sessions A: Wealth and Occupational Persistence Across Time and Space

The impact of the American Civil War on Wealth Persistence

Joshua Rosenbloom, University of Kansas
Brandon Dupont, Western Washington University

9:00 AM - 11:00 AM

Parallel Sessions A: Wealth and Occupational Persistence Across Time and Space

Is Most Wealth Inherited or Created? England, 1858-2012

Gregory Clark, University of California - Davis
Neil Cummins, London School of Economics

9:00 AM - 11:00 AM

Parallel Sessions A: Wealth and Occupational Persistence Across Time and Space

The Intergenerational Persistence of Entrepreneurship during Economic Transition: Evidence from Eastern Europe, Russia, and China

John S. Earle, Geoge Mason University
Kyung-Min Lee, George Mason University

9:00 AM - 11:00 AM

Parallel Sessions B: Empirical Advances in Monetary Policy, Measurement and Inflation

Deriving the Risk Adjusted User Cost for the CFS US Divisia Monetary Aggregates

Ryan S. Mattson, West Texas A&M University

9:00 AM - 11:00 AM

Parallel Sessions B: Empirical Advances in Monetary Policy, Measurement and Inflation

Transitory Movements, Inflation Trends and Volatilities During the Great Recession

Semih Cekin, Governor's State University
Victor Valcarcel, Texas Tech University

9:00 AM - 11:00 AM

Parallel Sessions B: Empirical Advances in Monetary Policy, Measurement and Inflation

Monetary Transmission Mechanism Through an Expectation Augmented Channel

Taniya Ghosh, Reserve Bank of India
Soumya Suvra Bhadury, University of Kansas

9:00 AM - 11:00 AM

Parallel Sessions B: Empirical Advances in Monetary Policy, Measurement and Inflation

SVAR Approach to Monetary Policy Evaluation in India

Soumya Suvra Bhadury, University of Kansas
Taniya Ghosh, Reserve Bank of India

9:00 AM - 11:00 AM

Parallel Sessions C: Applications of Stochastic Dominance Comparisons

Ranking Alternative Non-Combinable Prospects: A Stochastic Dominance Based Second Best Solution

Gordon Anderson, University of Toronto
Teng Wah Leo, St. Francis Xavier University

9:00 AM - 11:00 AM

Parallel Sessions C: Applications of Stochastic Dominance Comparisons

The state of female autonomy in India: A stochastic dominance approach

Gaston Yalonetzky, University of Leeds
Kausik Chaudhuri, University of Leeds

9:00 AM - 11:00 AM

Parallel Sessions C: Applications of Stochastic Dominance Comparisons

Well-being of female-headed Indian households: A multidimensional analysis using nonparametric stochastic dominance Presenters

Juan Tellez, Harvard University
Jaya Krishnakumar, University of Geneva

9:00 AM - 11:00 AM

Parallel Sessions C: Applications of Stochastic Dominance Comparisons

More on multidimensional, intertemporal and chronic poverty orderings

Florent Bresson, University of Auvergne
Jean-Yves Duclos, University of Laval

9:00 AM - 11:00 AM

Parallel Sessions D: Measurement Issues in Health Economics

Introducing the New BEA Health Care Satellite Account

Bryn Whitmire, U.S. Bureau of Economic Analysis
Abe Dunn, U.S. Bureau of Economic Analysis
Lindsey Rittmueller, U.S. Bureau of Economic Analysis

9:00 AM - 11:00 AM

Parallel Sessions D: Measurement Issues in Health Economics

Drug Shortages in the US: A Tale of Two Prices

Rena M. Conti, Uinversity of Chicago
Ernst R. Berndt, Massachusetts Institute of Technology

9:00 AM - 11:00 AM

Parallel Sessions D: Measurement Issues in Health Economics

Adopting Average Acquisition Cost: Are Drugs Now Cheaper for Medicaid

Christopher Stomberg, Bates-White Consultants
W David Bradford, University of Georgia

9:00 AM - 11:00 AM

Parallel Sessions D: Measurement Issues in Health Economics

Off-Label Use of Pharmaceuticals: Trends and Drivers

John L. Turner, University of Georgia
W. David Bradford, University of Georgia
Jonathan W. Williams, University of Georgia

9:00 AM - 11:00 AM

Parallel Sessions E: Uncertainty and Disagreement in Economic Forecasting

Measuring Global and Country-specific Macroeconomic Uncertainty

Exgi Ozturk, International Monetary Fund
Xuguang Sheng, American University

9:00 AM - 11:00 AM

Parallel Sessions E: Uncertainty and Disagreement in Economic Forecasting

Economic Policy Uncertainty and Inflation Expectations

Klodiana Istrefi, Banque de France
Anamaria Piloiu, Deutsche Bank Research

9:00 AM - 11:00 AM

Parallel Sessions E: Uncertainty and Disagreement in Economic Forecasting

Fundamental Disagreement

Philippe Andrade, Banque de France
Richard Crump, Federal Reserve Bank of New York
Stefano Eusepi, Federal Reserve Bank of New York
Emanuel Moench, Federal Reserve Bank of New York

9:00 AM - 11:00 AM

Parallel Sessions E: Uncertainty and Disagreement in Economic Forecasting

A Multivariate Analysis of Forecast Disagreement: Confronting Models of Disagreement with Survey Data

Jonas Dovern, Heidelberg University

9:00 AM - 11:00 AM

Parallel Sessions F: Econometric and Economic Theoretic Approaches to International Price and Real Expenditure Comparisons

Spatial Chaining Methods for International Comparisons of Prices and Real Expenditures under Heterogeneous Prices and Heterogenous Preferences

Robert Hill, University of Graz
Prasada Rao, University of Queensland
Sriram Shankar, University of Western Sydney
Golamreza Hajarghasht, University of Melbourne

9:00 AM - 11:00 AM

Parallel Sessions F: Econometric and Economic Theoretic Approaches to International Price and Real Expenditure Comparisons

Measuring Industry Productivity and Cross Country Convergence

Robert Inklaar, University of Groningen
Erwin Diewert, University of British Columbia

9:00 AM - 11:00 AM

Parallel Sessions F: Econometric and Economic Theoretic Approaches to International Price and Real Expenditure Comparisons

International Comparisons of Living Standards with Heterogeneous Tastes

Peter Neary, Oxford University
Ingvild Almas, Norwegian School of Economics
Ian Crawford, Oxford University

9:00 AM - 11:00 AM

Parallel Sessions F: Econometric and Economic Theoretic Approaches to International Price and Real Expenditure Comparisons

Stochastic Approach to the Measurement of Purchasing Power Parities of Currencies and Real Expenditures and the Estimation of Standard Errors

Prasada Rao, University of Queensland
Golamreza Hajarghasht, University of Melbourne

9:00 AM - 11:00 AM

11:00 AM

Coffee Break

11:00 AM - 11:30 AM

11:30 AM

Plenary Session

Consumer Demand with Multidimensional Unobserved Heterogeneity

Rosa Matzkin, University of California - Los Angeles

11:30 AM - 12:30 PM

12:30 PM

Executive Committee Lunch atRestaurant Le Bon 25 rue de la Pompe 75116 Paris

12:30 PM - 2:30 PM

Conference Lunch

12:30 PM - 2:30 PM

2:30 PM

Parallel Sessions A: Financial Services in the Economy

The Joint Services of Money and Credit

Liting Su, University of Kansas
William A. Barnett, University of Kansas, Lawrence, and Center for Financial Stability, New York City

2:30 PM - 4:30 PM

Parallel Sessions A: Financial Services in the Economy

Why Did Bank Lending Rates Diverge from Policy Rates After the Financial Crisis

Anamaria Illes, Bank of International Settlements
Paul Mizen, University of Nottingham
Marco Lombardi, Bank for International Settlements

2:30 PM - 4:30 PM

Parallel Sessions A: Financial Services in the Economy

Adding Creditor's Perspective Information to National Accounts

Marshall Reinsdorf, International Monetary Fund
Kyle Hood, Bureau of Economic Analysis

2:30 PM - 3:30 PM

Parallel Sessions A: Financial Services in the Economy

Producing Liquidity

Dennis Fixler, Bureau of Economic Analysis
Kimberly Zieschang, International Monetary Fund

2:30 PM - 4:30 PM

Parallel Sessions B: Complexity and Nonlinear Dynamics

Unconventional Monetary Policy Rules

Luca Agnello, University of Palermo
Vitor Castro, University of Coimbra
Gilles Dufrenot, Aix-Marseille School of Economics
Fredj Jawadi, University of Evry Val d'Essone
Ricardo M. Sousa, University of Minho

2:30 PM - 4:30 PM

Parallel Sessions B: Complexity and Nonlinear Dynamics

Capital deepening in OECD countries: the non-linear impact of structural policies

Balazs Egert, OECD, Economics Department

2:30 PM - 4:30 PM

Parallel Sessions B: Complexity and Nonlinear Dynamics

New Investigations on the Public Debt - Economic Growth Relation using Directed Information Tools

Brieuc Guinard, ENS Lyon, IXXI Complex Systems Institute
Pierre Borgnat, ENS Lyon, IXXI Complex Systems Institute
Pablo Jensen, ENS Lyon, IXXI Complex Systems Institute
Antoine Parent, Sciences Po Lyon, Complex Systems Institute

2:30 PM - 4:30 PM

Parallel Sessions B: Complexity and Nonlinear Dynamics

Understanding Financial Risk Through Complexity: Application to Real Time Series

Catherine Kyrtsou, University of Macedonia, CAC, IXXI-ENS Lyon, and University of Paris 10 and Strasbourg
Anastasios Malliaris, Loyola University Chicago
Christina Mikropoulou, University of Macedonia

2:30 PM - 4:30 PM

Parallel Sessions C: The Demand for Money and Liquid Assets

A Disaggregated Liquid Assets Demand System Based on the NQ Expenditure Function

Apostolos Serletis, University of Calgary
Ali Jadidzadeh, University of Calgary

2:30 PM - 4:30 PM

Parallel Sessions C: The Demand for Money and Liquid Assets

The Demand for Liquid Assets: Evidence from Stochastic Volatility Demand Systems

Dongfeng Chang, Shandong University
Apostolos Serletis, University of Calgary

2:30 PM - 4:30 PM

Parallel Sessions C: The Demand for Money and Liquid Assets

Separable Monetary Aggregates: An Investigation of Weak and Additive Separability for the Euro Zone

Barry Jones, Binghamton University
Per Hjertstrand, Institutet for Naringslivsforskning
Livio Stracca, European Central Bank

2:30 PM - 4:30 PM

Parallel Sessions C: The Demand for Money and Liquid Assets

Measuring Economies of Scale in the Financial Services Industry

Shyam Sunder, Yale University

2:30 PM - 4:30 PM

Parallel Sessions D: Systemic Risk Measurements and Networks

Emergence of the EU Corporate Lending Network

Grzegorz Halaj, European Central Bank

2:30 PM - 4:30 PM

Parallel Sessions D: Systemic Risk Measurements and Networks

A Network View on Interbank Market Freezes

Co-Pierre Georg, University of Cape Town

2:30 PM - 4:30 PM

Parallel Sessions D: Systemic Risk Measurements and Networks

Measuring Systemic Illiquidity and Optimal Policy Options: a Dynamic Approach

Gerardo Ferrara, Bank of England
Sam Langfield, European Central Bank
Zijun Liu, Bank of England
Tomohiro Ota, Goldman Sachs

2:30 PM - 4:30 PM

Parallel Sessions D: Systemic Risk Measurements and Networks

Intraday Liquidity and Delays in the European Payments System

Ben Craig, Cleveland Federal Reserve Bank

2:30 PM - 4:30 PM

Parallel Sessions E: Contemporary Country Studies in Economic Measurement

An Unconventional Empirical Analysis of the Relationship between Poverty and Income Inequality for Turkey

Sadullah Celik, Marmara University Istanbul
Deniz Satiroglu, Frankfurt Goethe University

2:30 PM - 4:30 PM

Parallel Sessions E: Contemporary Country Studies in Economic Measurement

Nowcasting Turkish GDP and News Decomposition

Ege Yazgan, Kadir Has University
Michele Modugno, U.S. Federal Reserve Board
Baris Soybilgen, Bilgi University and Bahcesehir University Center for Economic and Social Research

2:30 PM - 4:30 PM

Parallel Sessions E: Contemporary Country Studies in Economic Measurement

An Assessment on Graham’s Approach for Stock Selection: The Case of Turkey

Nuray Terzi, Marmara University Istanbul

2:30 PM - 4:30 PM

Parallel Sessions E: Contemporary Country Studies in Economic Measurement

Empirical Evidence on Indirect Spillover Effects

Aysu Insel, Istanbul Kemerburgaz University
Abdurrahman Korkmaz, Izmir Katip Celebi University
Arigiro Moudatsou, Technological Educational Institute of Crete

2:30 PM - 4:30 PM

Parallel Sessions F: Systemic Risk Analytics

Network Linkages to Predict Bank Distress

Tuomas Peltonen, ESRB
Andreea Piloiu, University of Lausanne
Peter Sarlin, Haken School of Economics and Risklab Finland

2:30 PM - 4:30 PM

Parallel Sessions F: Systemic Risk Analytics

Toward Robust Early Warning Models: a Horse Race, Ensembles and Model Uncertainty

Markus Holopainen, Risklab Finland and Arcada University of Applied Sciences
Peter Sarlin, Haken School of Economics and Risklab Finland

2:30 PM - 4:30 PM

Parallel Sessions F: Systemic Risk Analytics

How Does Credit Risk Flow in the CDS Market?

Marco D'Errico, University of Zurich
Stefano Battison, University of Zurich
Tuomas Peltonen, ESRB
Martin Scheicher, ECB

2:30 PM - 4:30 PM

Parallel Sessions F: Systemic Risk Analytics

Leveraging the Network: A Stress-Test Framework Based on DebtRank

Stefano Battison, University of Zurich
Stefano Gurciullo, University College London
Guid Caldarelli, IMT Lucca

2:30 PM - 4:30 PM

4:30 PM

Coffee Break

4:30 PM - 5:00 PM

5:00 PM

Plenary Session

Measurement Matters: The Case of Capital in the 21st Century

Steven Durlauf, University of Wisconsin, Madison

5:00 PM - 6:00 PM

6:30 PM

Conference Dinner and Lecture at Cercle National des Armées 8 Place Saint-Augustin 75008 PARIS

Ideosynchratic Reflections on Economics as a Science

Assar Lindbeck, Stockholm University

6:30 PM - 9:00 PM

Friday, July 24th
9:30 AM

Parallel Sessions A: Total Factor Productivity, Potential Outpupt, and Economic Growth

Total Output Productivity Accounted for Automatically in Terms of Individual Input Productivities

Peter A. Zadrozny, U.S. Bureau of Labor Statistics

9:30 AM - 11:30 AM

Parallel Sessions A: Total Factor Productivity, Potential Outpupt, and Economic Growth

Evidence on Cross-Industry Input Allocation and Country-Level TFP Growth

Jon D. Samuels, U.S. Bureau of Economic Analysis

9:30 AM - 11:30 AM

Parallel Sessions A: Total Factor Productivity, Potential Outpupt, and Economic Growth

A Cross-Country Database of Total Factor Productivity and Potential Output

Jamus Jerome Lim, World Bank
Delfin Sia Go, World Bank
Sergio Kurlat, World Bank

9:30 AM - 11:30 AM

Parallel Sessions A: Total Factor Productivity, Potential Outpupt, and Economic Growth

Productivity Trends from 1890 to 2012 in Advanced Countries

Gilbert Cette, Banque de France
Antonin Bergeaud, Banque de France
Remy Lecat, Bank de France

9:30 AM - 11:30 AM

Parallel Sessions B: Macroeconomic Modelling of Liquidity, Signals, Forecasts and Policy

A Signal Approach to Liquidity Risk in Europe

Logan Kelly, University of Wisconsin - River Falls
Makram El Shagi, Henan Univeristy

9:30 AM - 11:30 AM

Parallel Sessions B: Macroeconomic Modelling of Liquidity, Signals, Forecasts and Policy

Forecasting Macroeconomic Time Series: A Comparison of Regime Switching and Recurrent Neural Network Methods

Jonathan Tepper, Nottingham Trent University
Marcelle Chauvet, University of California - Riverside
Logan Kelly, University of Wisconsin - River Falls
Jane M. Binner, University of Birmingham

9:30 AM - 11:30 AM

Parallel Sessions B: Macroeconomic Modelling of Liquidity, Signals, Forecasts and Policy

Can Volatility Spillovers in Divisia User Costs Describe Monetary Transmission?

Victor Varcarecel, University of Texas at Dallas

9:30 AM - 11:30 AM

Parallel Sessions B: Macroeconomic Modelling of Liquidity, Signals, Forecasts and Policy

Does Money Matter in the Euro Area? Evidence from a New Divisia Index

Zsolt Darvas, Bruegel

9:30 AM - 11:30 AM

Parallel Sessions C: Unresolved Measurement Problems in the System of National Accounts

The User Cost of a Nonrenewable Resource and Green Accounting

Kevin J. Fox, University of New South Wales
Erwin Diewert, University of British Columbia and University of New South Wales

9:30 AM - 11:30 AM

Parallel Sessions C: Unresolved Measurement Problems in the System of National Accounts

Productivity Measurement with Natural Capital

Paul Schreyer, OECD
Nicola Brandt, OECD
Vera Zipperer, OECD

9:30 AM - 11:30 AM

Parallel Sessions C: Unresolved Measurement Problems in the System of National Accounts

Accounting for Intangible, Non-Marketed and Sunk Capital

Robert D. Cairns, McGill University

9:30 AM - 11:30 AM

Parallel Sessions C: Unresolved Measurement Problems in the System of National Accounts

Accounting for Government Activities

John Hartwick, Queen's University

9:30 AM - 11:30 AM

Parallel Sessions D: Monetary Policy

Bond Market Exposures to Macroeconomic and Monetary Policy Risks

Dongho Song, Boston College

9:30 AM - 11:30 AM

Parallel Sessions D: Monetary Policy

Measuring Monetary Policy Uncertainty

Shu Wu, Kansas University
Shangwen Huang, University of Kansas

9:30 AM - 11:30 AM

Parallel Sessions D: Monetary Policy

Effects of U.S. Quantitative Easing on Emerging Market Economies

Woong Yong Park, University of Illinois
Saroj Bhattarai, University of Texas at Austin
Arpita Chatterjee, University of New South Wales

9:30 AM - 11:30 AM

Parallel Sessions D: Monetary Policy

Federal Reserve Credibility and the Term Structure of Interest Rates

Aeimit Lakdawala, Michigan State University
Shu Wu, University of Kansas

9:30 AM - 11:30 AM

Parallel Sessions E: Evaluation of Behavior and Heuristic Strategies

Evaluating adoption and scope of heuristics in the business environment

Simone Guercini, University of Florence

9:30 AM - 11:30 AM

Parallel Sessions E: Evaluation of Behavior and Heuristic Strategies

Culture, Compliance, and Confidentiality: A Study of Taxpayer Behavior in the United States and Italy

Sally Wallace, Georgia State University
James Alm, Tulane University of Louisiana
Michele Bernasconi, Ca'Foscari University of Venice
Susan Laury, Georgia State University

9:30 AM - 11:30 AM

Parallel Sessions E: Evaluation of Behavior and Heuristic Strategies

How do managers perceive risk

Shabnam Mousavi, Johns Hopkins University
Reza Kheirandish, Clayton State University

9:30 AM - 11:30 AM

Parallel Sessions E: Evaluation of Behavior and Heuristic Strategies

Decision Models Derived From Process Data

Eduard Brandstatter, Johannes Kepler University of Linz

9:30 AM - 11:30 AM

Parallel Sessions F: Real Time Data

Measuring Uncertainty Using Survey-Based Diffusion Indices

Pierre-Daniel G. Sarte, Federal Reserve Bank of Richmond

9:30 AM - 11:30 AM

Parallel Sessions F: Real Time Data

Optimal Monetary Policy Revisited: Does Considering Real-Time Data Change Things?

Jesus Vazquez, Universidad del Pais Vasco
Steven P. Cassou, Kansas State University
Patrick Scott, Missouri State University)

9:30 AM - 11:30 AM

Parallel Sessions F: Real Time Data

Assessing Macro Uncertainty in Real Time When Data Are Subject to Revision

Michael P. Clements, University of Reading

9:30 AM - 11:30 AM

Parallel Sessions F: Real Time Data

Indeterminacy and Learning: An Analysis of Monetary Policy in the Great Inflation

Thomas A. Lubik, Federal Reserve Bank of Richmond
Christian Matthes, Federal Reserve Bank of Richmond

9:30 AM - 11:30 AM

11:30 AM

Coffee Break

11:30 AM - 12:00 PM

12:00 PM

Uzawa Memorial Lecture

Direct Elicitation of Indirect Preferences

Daniel McFadden, University of California - Berkeley

12:00 PM - 1:00 PM

1:00 PM

Conference Lunch

1:00 PM - 2:30 PM

2:30 PM

Parallel Sessions A: Risk Measurement Partie Deux

What is the Best Risk Measure in Practice? A Comparison of Standard Measures

Marie Kratz, ESSEC Business School, CREAR risk research center

2:30 PM - 4:30 PM

Parallel Sessions A: Risk Measurement Partie Deux

Model Risk and Culture

Andreas Tsanakas, Cass Business School, City University London

2:30 PM - 4:30 PM

Parallel Sessions A: Risk Measurement Partie Deux

Endogenous Risks in Central Clearing

Travis Nesmith, Board of Governors, U.S. Federal Reserve Bank

2:30 PM - 4:30 PM

Parallel Sessions A: Risk Measurement Partie Deux

On the Nature of Financial Risk: Why Risk is so Hard to Measure and Why Risk Models Fail so Often

Jon Danielsson, London School of Economics

2:30 PM - 4:30 PM

Parallel Sessions B: Panel Discussion

Panel Discussion on “Future Challenges and Opportunities in Producing Economic Statistics”

Erica Groshen, U.S. Bureau of Labor Statistics
Yoel Finkel, Israel Central Bureau of Statistics
Brian Moyer, U.S. Bureau of Economic Analysis
Silke Stapel-Weber, Eurostat

2:30 PM - 4:30 PM

Parallel Sessions C: Comparisons in the Spatial-temporal Domain

Market Imperfections, Skills and Total Factor Productivity: Firm-level Evidence on Belgium and the Netherlands

Mark Vancauteren, Hasselt University
Sabien Dobbelaere, VU University

2:30 PM - 4:30 PM

Parallel Sessions C: Comparisons in the Spatial-temporal Domain

Incorporating Temporal and Country Heterogeneity in the Measurement of Labour Productivity Growth, TFP and Structural Change

Alicia Rambaldi, University of Queensland
Antonio Peyrache, University of Queensland

2:30 PM - 4:30 PM

Parallel Sessions C: Comparisons in the Spatial-temporal Domain

On Measuring Regional or Global Growth and Inflation

Bert Balk, Erasmus University of Rotterdam
Prasada Rao, University of Queensland
Alicia N. Rambaldi, University of Queensland

2:30 PM - 4:30 PM

Parallel Sessions C: Comparisons in the Spatial-temporal Domain

Multilateral Divisia Monetary Aggregation for the EU and EMU.

Neepa Gaekwad-Babulal, University of Kansas Main Campus
William A. Barnett, University of Kansas, Lawrence, and Center for Financial Stability, New York City

2:30 PM - 4:30 PM

Parallel Sessions D: Measuring Capital

Accumulation of Human and Nonhuman Capital Revisited

Barbara Fraumeni, Central University for Finance and Economics
Michael Christian, Wisconsin Center for Education Research
Jon D. Samuels, U.S. Bureau of Economic Analysis

2:30 PM - 4:30 PM

Parallel Sessions D: Measuring Capital

BLS Research on Capital Asset Service Lives

Michael D. Giandrea, U.S. Bureau of Labor Statistics
Peter Meyer, U.S. Bureau of Labor Statistics
Susan G. Powers, U.S. Bureau of Labor Statistics
Steve Rosenthal, Bureau of Labor Statistics
Randy M. Kinoshita, U.S. Bureau of Labor Statistics
Corby A. Garner, U.S. Bureau of Labor Statistics
Brian D. Chansky, U.S. Bureau of Labor Statistics

2:30 PM - 4:30 PM

Parallel Sessions D: Measuring Capital

Getting Rental Prices Right for Computers

Erwin Diewert, University of British Columbia and University of New South Wales
Hui Wei

2:30 PM - 4:30 PM

Parallel Sessions D: Measuring Capital

Capital Input and the Sources of U.S. Economic Growth across Industries: A Comparison of Alternative Approaches

Jon D. Samuels, U.S. Bureau of Economic Analysis
Jay Stewart, Bureau of Labor Statistics
Erich H. Strassner, U.S. Bureau of Economic Analysis
David B. Wasshausen, U.S. Bureau of Economic Analysis

2:30 PM - 4:30 PM

Parallel Sessions E: Macroeconomic Policy

Real-time Forecasting with a Large, Mixed Frequency, Bayesian VAR

Tatevik Sekhposyan, Texas A & M University - College Station
Michael McCracken, Federal Reserve Bank of St. Louis
Michael Owyang, Federal Reserve Bank of St. L

2:30 PM - 4:30 PM

Parallel Sessions E: Macroeconomic Policy

Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective

Christopher Otrok, University of Missouri
Gianluca Benigno, London School of Economics
Huigant Chen, MarketShare Partners
Alessandro Rebucci, Johns Hopkins University
Eric Young, University of Virginia - Main Campus

2:30 PM - 4:30 PM

Parallel Sessions E: Macroeconomic Policy

Taylor Rules and Financial Market Expectations

Michael Owyang, Federal Reserve Bank of Saint Louis
Eric Ghysels, Universityof North Carolina, Chapel Hill

2:30 PM - 4:30 PM

Parallel Sessions E: Macroeconomic Policy

Nonlinearities, Smoothing and countercyclical Monetary Policy

Laura E. Jackson, Bentley University
Michael T. Owyang, Federal Reserve Bank of St. Louis
Daniel Soques, University of North Carolina

2:30 PM - 4:30 PM

Parallel Sessions F: Measurement Issues in Economics and Finance

Monetary Policy and Shadow Banking

Ricardo M. Sousa, University of Minho
Luca Agnello, University of Palermo
Vitor Castro, University of Coimbra

2:30 PM - 4:30 PM

Parallel Sessions F: Measurement Issues in Economics and Finance

Gathering the Pieces of the U.S. Real Output Dynamics: New Challenges for Economic Policy

Christina Mikropoulou, University of Macedonia
Stella Karagianni, University of Macedonia
Catherine KYRTSOU, University of Macedonia, Department of Economics, Thessaloniki

2:30 PM - 4:30 PM

Parallel Sessions F: Measurement Issues in Economics and Finance

France's International Insertion: Specializations, Intra-industry Trade and Quality Positioning in Long-run Perspective 1836-1938: A New Measurement Approach

Bertrand Blancheton, University of Bordeaux
Stephane Becuwe, Univeristy of Bordeaux
Christopher Meissner, University of California - Davis

2:30 PM - 4:30 PM

Parallel Sessions F: Measurement Issues in Economics and Finance

Capital Account Liberalization and Growth in Emerging Markets: Linking Concepts to Measurement

Zorobabel Bicaba, African Development Bank
Zuzana Brixiova, African Development Bank

2:30 PM - 4:30 PM

4:30 PM

Coffee Break

4:30 PM - 5:00 PM

5:00 PM

Plenary Session

Virtual Coinage: Network Evidence on Decentralized Currencies

Ester Faia, Goethe University Frankfurt

5:00 PM - 6:00 PM