Schedule

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2016
Wednesday, July 6th
8:50 AM

Welcome

Pericles A. Mitkas, Aristotle University of Thessaloniki
Costas Karfakis, University of Macedonia

8:50 AM - 9:00 AM

9:00 AM

Keynote Address 1

George Tavlas Keynote Address

George Tavlas

9:00 AM - 10:00 AM

10:30 AM

Parallel Sessions A: How Best to Measure Hedonic Property Price Indexes

Developing Land and Structure Price Indexes for Ottawa Condominium Apartments

Kate Burnett-Isaacs, Statistics Canada
Ning Huang, Statistics Canada
Erwin Diewert

10:30 AM - 12:30 PM

Parallel Sessions A: How Best to Measure Hedonic Property Price Indexes

Hedonic Regression Models for Tokyo Condominium Sales

Erwin Diewert
Chihiro Shimizu, National University of Singapore

10:30 AM - 12:30 PM

Parallel Sessions A: How Best to Measure Hedonic Property Price Indexes

Quantile Regressions and the Decomposition of House Price Distributions

Chihiro Shimizu, National University of Singapore
Yongheng Deng, National University of Singapore
Xiangyu Guo, National University of Singapore
Daniel McMillen, National Univesity of Singapore

10:30 AM - 12:30 PM

Parallel Sessions A: How Best to Measure Hedonic Property Price Indexes

How Best to Measure Hedonic Property Price Indexes

Mick Silver

10:30 AM - 12:30 PM

Parallel Sessions B: New Developments in the Measurement of Technical Change and Productivity

Estimation of Technical Change and Price Elasticities: A Categorical Time-varying Coefficient Approach

Guohua Feng, University of North Texas
Xiaohui Zhang, Murdoch University

10:30 AM - 12:30 PM

Parallel Sessions B: New Developments in the Measurement of Technical Change and Productivity

Flexible Productivity Analysis with Nonparametric Panel Data Models using Penalized Splines

Gholamreza Hajargasht, University of Melbourne
Prasada Rao, University of Queensland

10:30 AM - 12:30 PM

Parallel Sessions B: New Developments in the Measurement of Technical Change and Productivity

Another Explanation of Labour Productivity Change

Christopher O'Donnell, University of Queensland

10:30 AM - 12:30 PM

Parallel Sessions B: New Developments in the Measurement of Technical Change and Productivity

Measuring Total Factor Productivity in International Production Chains

Marcel Timmer, University of Groningen

10:30 AM - 12:30 PM

Parallel Sessions C: Transcending Traditional Measurement

Digital, global, fast, complex: Finance has changed radically. What does that mean for measurement?

Francis Gross, European Central Bank

10:30 AM - 12:30 PM

Parallel Sessions C: Transcending Traditional Measurement

Standards and business data

Karla McKenna, International Organization for Standardization
Francois Laurent, European Central Bank

10:30 AM - 12:30 PM

Parallel Sessions C: Transcending Traditional Measurement

Measuring new business formation using administrative data

Kimberly N. Bayard, The Board of Governors of the Federal Reserve System

10:30 AM - 12:30 PM

Parallel Sessions C: Transcending Traditional Measurement

Building a U.S. national mortgage database: Linking administrative, commercial and survey data

Robert Avery, Federal Housing Finance Administration

10:30 AM - 12:30 PM

Parallel Sessions D: Measurement Issues in Health Economics

Prices and spending of medical treatment after physician consolidation with health systems: outpatient prescription drug-based cancer care

Rena M. Conti, Uinversity of Chicago
Mary Beth Landrum, Harvard Medical School
Mireille Jacobson, University of California at Irvine

10:30 AM - 12:30 PM

Parallel Sessions D: Measurement Issues in Health Economics

Government Free Riding in Medical Research

Margaret Kyle, MINES Paris Tech
David Ridley, Duke University
Su Zhang, Duke University

10:30 AM - 12:30 PM

Parallel Sessions D: Measurement Issues in Health Economics

Trends in the Costs of Outsourced R&D: Evidence from Clinical Trials

Ernst R. Berndt, Massachusetts Institute of Technology
Iain M. Cockburn, Boston University and NBER

10:30 AM - 12:30 PM

Parallel Sessions D: Measurement Issues in Health Economics

Digitization and Innovation in Medical Technology

Ariel Dora Stern

10:30 AM - 12:30 PM

12:30 PM

Conference Lunch

12:30 PM - 2:00 PM

2:00 PM

Parallel Sessions A: The Measurement of Productivity: Problems and Solutions

Has the Labour Share Declined

Paul Schreyer, OECD
Taehyoung Cho
Soobin Hwang

2:00 PM - 4:00 PM

Parallel Sessions A: The Measurement of Productivity: Problems and Solutions

Alternative User Costs, Rates of Return and TFP Growth Rates for the US Nonfinancial Corporate and Noncorporate Business Sectors: 1960-2014

Erwin Diewert
Kevin J. Fox

2:00 PM - 4:00 PM

Parallel Sessions A: The Measurement of Productivity: Problems and Solutions

Natural Resources and Cross-Country Income Differences

Robert Inklaar, University of Groningen, Netherlands
Daan Freeman, University of Groningen

2:00 PM - 4:00 PM

Parallel Sessions A: The Measurement of Productivity: Problems and Solutions

The Productivity of Financial Service Providers

Dennis Fixler
Kimberly Zieschang, International Monetary Fund

2:00 PM - 4:00 PM

Parallel Sessions B: Financial Services Indices, Economic Activity and Liquidity

Multi-stage learning of US price levels using forecasts from sluggish state-based neural networks

Jane Binner, University of Birmingham
Jonathan Tepper, The Nottingham Trent University

2:00 PM - 4:00 PM

Parallel Sessions B: Financial Services Indices, Economic Activity and Liquidity

Divisia Money and Asset Price Movements In Europe

Wenjuan Chen, Free University of Berlin
Dieter Nautz, Free University of Berlin

2:00 PM - 4:00 PM

Parallel Sessions B: Financial Services Indices, Economic Activity and Liquidity

Superlative Index Numbers and Revealed Preference Rankings

James Swofford, University of South Alabama
Gerald Whitney, University of New Orleans
Per Hjertstrand, Research Institute of Industrial Economics, Sweden

2:00 PM - 4:00 PM

Parallel Sessions B: Financial Services Indices, Economic Activity and Liquidity

What can we learn from country level liquidity in the EMU

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

2:00 PM - 4:00 PM

Parallel Sessions C: Efficiency/Productivity Analysis at the Aggregate Level

On Aggregating Efficiency and Productivity Indicators

Giannis Karagiannis, University of Macedonia
Rolf Fare, Oregon State University
Shawna Grosskopf, Oregon State University

2:00 PM - 4:00 PM

Parallel Sessions C: Efficiency/Productivity Analysis at the Aggregate Level

Productivity Growth in Network Models: An Appliaction to Banking During the Financial Crisis

Nikolaos Tzeremes, Aristotle University of Thessaloniki
Stavros Kourtzidis, Aristotle University of Thessaloniki

2:00 PM - 4:00 PM

Parallel Sessions C: Efficiency/Productivity Analysis at the Aggregate Level

A Decomposition of US Business Sector TFP Growth into Technical Progress and Inefficiency Components

Kevin J. Fox
Erwin Diewert

2:00 PM - 4:00 PM

Parallel Sessions C: Efficiency/Productivity Analysis at the Aggregate Level

Industry Inefficiency Measures: A Unifying Approximation Proposition

Antonio Peyrache, University of Queensland
Hien Thu Pham, University of Queensland

2:00 PM - 4:00 PM

Thursday, July 7th
9:00 AM

Keynote Address 2

Theory in the Age of Big Data

Stephen E. Spear, Carnegie Mellon University

9:00 AM - 10:00 AM

10:30 AM

Parallel Sessions A: Real-Time Nowcasting of Nominal GDP with Structural Breaks

Weighted-Covariance Factor Decomposition of VARMA Models for Forecasting Macroeconomic Data

Peter A. Zadrozny, U.S. Bureau of Labor Statistics
Baoline Chen, Bureau of Economic Analysis

10:30 AM - 12:30 PM

Parallel Sessions A: Real-Time Nowcasting of Nominal GDP with Structural Breaks

Predicting Belgium’s GDP Using Targeted Bridge Models

Christophe Piette, Bank of Belgium

10:30 AM - 12:30 PM

Parallel Sessions A: Real-Time Nowcasting of Nominal GDP with Structural Breaks

Norges Banks System for Short-term Forecasting of Macroeconomic Variables

Anne Sofie Jore, Norges Bank, Norway
Knut Are Aastveit, Norges Bank, Norway
Francesco Ravazzolo, Free University of Bozen
Claudia Foroni, Norges Bank, Norway

10:30 AM - 12:30 PM

Parallel Sessions A: Real-Time Nowcasting of Nominal GDP with Structural Breaks

Real-Time Nowcasting of Nominal GDP with Structural Breaks

Marcelle Chauvet, UC Riverside
William A. Barnett, University of Kansas
Danilo Leiva-Leon, Bank of Chile

10:30 AM - 12:30 PM

Parallel Sessions B: How Rich are our Measurements of Household Wealth

From the household to the data point: Measuring private wealth within the HFCS

Pirmin Fessler, Austrian Nationalbank
Verena Halsmayer

10:30 AM - 12:30 PM

Parallel Sessions B: How Rich are our Measurements of Household Wealth

Our research is frittered away at the tails: The extremes of the distribution of wealth in cross-country comparisons

Sebastien Perez Duarte, European Central Bank
Robin Chakraborty

10:30 AM - 12:30 PM

Parallel Sessions B: How Rich are our Measurements of Household Wealth

The concentration of wealth: evidence from five data sources

Facundo Alvaredo, Paris School of Economics

10:30 AM - 12:30 PM

Parallel Sessions B: How Rich are our Measurements of Household Wealth

Sensitivity of Wealth and Income Measurements

Jesse Bricker, The Board

10:30 AM - 12:30 PM

Parallel Sessions C: Topics in Applied Economics and Growth

An asymmetric cointegration analysis of Crude oil prices - carbon emissions relationship

Eleni Zafeiriou, Democritus Unniversity of Thrace
Nikolaos Sariannidis, Technological Education Institute of West Macedonia
Constantinos Katrakilidis, Aristotle University of Thessaloniki

10:30 AM - 12:30 PM

Parallel Sessions C: Topics in Applied Economics and Growth

What do convergence-measures really indicate?

Grigoris Zarotiadis, Aristotle University of Thessaloniki

10:30 AM - 12:30 PM

Parallel Sessions C: Topics in Applied Economics and Growth

Global and Local Price Co-movement in EU Pork Markets:An Empirical Analysis with Kernel-based Multivariate Copulas

Panos Fousekis, Aristotle University of Thessaloniki
Vasilis Grigoriadis, Aristotle University of Thessaloniki

10:30 AM - 11:30 AM

Parallel Sessions C: Topics in Applied Economics and Growth

Price Transmission in the Swedish Pork Chain: New Evidence from Asymmetric ARDL modeling

Kostas Karantininis, University of Copenhagen
Constantinos Katrakilidis, Aristotle University of Thessaloniki
Costas Karfakis, University of Macedonia
Morten Persson, Lund University

10:30 AM - 12:30 PM

Parallel Sessions D: Search and Bargaining in Markets

Gasoline Price Wars: Spatial Dependence Awakens

Michael Polemis, University of Piraeus
Konstantinos Eleftheriou, University of Piraeus

10:30 AM - 12:30 PM

Parallel Sessions D: Search and Bargaining in Markets

Project Modiffications and Bidding in Highway Procurement Auctions

Dakshina de Silva, Lancaster University
Timothy Dunne, Federal Reserve Bank of Atlanta
Georgia Kosmopoulou, University of Oklahoma
Carlos Lamarche, University of Kentucky

10:30 AM - 12:30 PM

Parallel Sessions D: Search and Bargaining in Markets

Free Riding on the Search of Others: Search Spillovers in the Mortgage Market

George Deltas, University of Illinois at Urbana-Champaign
Zening Li, University of Illinois at Urbana-Champaign

10:30 AM - 12:30 PM

Parallel Sessions D: Search and Bargaining in Markets

An Experimental Test of the Lucas Asset Pricing Model

Sean Crockett, Baruch College, CUNY
John Duffy, University of California at Irvine

10:30 AM - 12:30 PM

12:30 PM

Executive Committee Lunch

Electra Palace Excelsior Room

12:30 PM - 2:00 PM

Conference Lunch

12:30 PM - 2:00 PM

2:00 PM

Keynote Address 3

Measuring GDP in the Digitalised Economy

Paul Schreyer, OECD

2:00 PM - 3:00 PM

3:30 PM

Paralle Sessions A: Growth Panel Discussion

Growth theory and measurement: issues and debates in historical perspective: A panel discussion

Erwin Diewert
Leonard Nakamura, Federal Reserve Bank of Philadelphia
Marcel Timmer, University of Groningen
Anthony Smith, Yale University

3:30 PM - 5:30 PM

Parallel Sessions B: Nonlinear Dynamics in Economics and Finance

Oil Volatility and Exchange Rate Jumps: An Intrady Analysis

Fredj Jawadi, University of Evry Val d'Essonne
Hachmi Ben Ameur, INSEEC Business School
Wael Louhichi, ESSCA School of Management
Karim Idi Cheffou, EDC Paris Business School

3:30 PM - 5:30 PM

Parallel Sessions B: Nonlinear Dynamics in Economics and Finance

Debt Deflation, Financial Market and Regime Change – Evidence from Europe using MRVAR

Alexander Haider, New School for Social Research
Willi Semmler, New School for Social Research
Ekkehard Ernst, International Labor Organization

3:30 PM - 5:30 PM

Parallel Sessions B: Nonlinear Dynamics in Economics and Finance

Capital Control, Exchange Rate Regimes, and Monetary Policy: Indeterminacy and Bifurcation

Jingxian Hu, University of Kansas
William A. Barnett, University of Kansas

3:30 PM - 5:30 PM

Parallel Sessions B: Nonlinear Dynamics in Economics and Finance

Taylor Rules, Instability, and the Liquidity Trap

Antoine Parent
Francesco Magris, Universite de Tours
Antoine Le Riche, Aix-Marseille School of Economics

3:30 PM - 5:30 PM

Parallel Sessions C: Productivity Change - Measurement, decomposition and analysis

Dissecting aggregate output and labour productivity change: Additivity and misallocation

Bert M. Balk, Rotterdam School of Management Erasmus University

3:30 PM - 4:30 PM

Parallel Sessions C: Productivity Change - Measurement, decomposition and analysis

Decomposing value added growth over sectors into explanatory factors

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

3:30 PM - 5:30 PM

Parallel Sessions C: Productivity Change - Measurement, decomposition and analysis

Wage-productivity growth gap: An analysis of industry data

Abdul Erumban, The Conference Board
Klaas de Vries, The Conference Board

3:30 PM - 5:30 PM

Parallel Sessions C: Productivity Change - Measurement, decomposition and analysis

The Multiprod project: Building a cross-country analysis of productivity using official firm-level data

Giuseppe Berlingieri, OECD and ESSEC Business School
Patrick Blanchenay, OECD and University of Toronto
Chiara Criscuolo, OECD

3:30 PM - 5:30 PM

6:00 PM

Conference Dinner

Meet buses at hotel

6:00 PM - 12:30 AM

Friday, July 8th
10:00 AM

Keynote Address 4

Anthony Smith Keynote

Anthony A. Smith, Yale University

10:00 AM - 11:00 AM

11:30 AM

Parallel Sessions A: Advances in Economic Measurement at the Center for Financial Stability

Chinese Divisia Monetary Index and GDP Nowcasting

Biyan Tang, University of Kansas
William A. Barnett, University of Kansas

11:30 AM - 1:30 PM

Parallel Sessions A: Advances in Economic Measurement at the Center for Financial Stability

Construction of Divisia Monetary Aggregates for Mexico: Methods and Sources

Ryan Mattson, West Texas A&M University and the Center for Financial Stability
Tino Frausto, West Texas A&M University

11:30 AM - 1:30 PM

Parallel Sessions A: Advances in Economic Measurement at the Center for Financial Stability

Nowcasting Nominal GDP with the Credit-Card Augmented Divisia Monetary Aggregates

William A. Barnett, University of Kansas and The Center for Financial Stability
Marcelle Chauvet, University of California at Riverside
Danilo Leiva-Leon, Central Bank of Chile
Liting Su, University of Kansas

11:30 AM - 1:30 PM

Parallel Sessions A: Advances in Economic Measurement at the Center for Financial Stability

Why CFS Divisia Matters

Lawrence Goodman, The Center for Financial Stability

11:30 AM - 1:30 PM

Parallel Sessions B: Intangibles In The Public Sector: The SPINTAN project

Estimating public intangibles in real time

Fabio Bacchini Istat, ISTAT
Roberto Iannaccone, ISTAT

11:30 AM - 1:30 PM

Parallel Sessions B: Intangibles In The Public Sector: The SPINTAN project

Spillovers to public intangibles

Cecilia Jona-Lasinio, Istituto Nazionale di Statistica
Carol Corrado, The Conference Board
Jonathan Haskel, Imperial College Business School

11:30 AM - 1:30 PM

Parallel Sessions B: Intangibles In The Public Sector: The SPINTAN project

A Methodology for disentangling public funded R&D (GBAORD) by industries

Juan Fernandez, University of Valencia and IVIE
Matilde Mas, IVIE and University of Valencia
Eva Benages, University of Valencia and IVIE

11:30 AM - 1:30 PM

Parallel Sessions B: Intangibles In The Public Sector: The SPINTAN project

Education as Social Infrastructure

Mary O'Mahony, Kings College
Carol Corrado, The Conference Board
Lea Samek, King's College London

11:30 AM - 1:30 PM

Parallel Sessions C: New Economic Measurement Issues

Where is the iPhone in GDP?

Leonard Nakamura, Philadelphia Federal Reserve Bank
Charles Hulten, University of Maryland
Ryan Michaels, Philadelphia Rederal Reserve Bank

11:30 AM - 1:30 PM

Parallel Sessions C: New Economic Measurement Issues

New Technology Indicator for Technological Progress

Wendy Li, Bureau of Economic Analysis

11:30 AM - 12:30 PM

Parallel Sessions C: New Economic Measurement Issues

Sources of country-sector productivity growth: Total factor productivity and intangible capital in the EU15 and the US.

Cecilia Jona-Lasinio, Istituto Nazionale di Statistica
Jonathan Haskel, Imperial College London
Massimiliano Iommi, ISTAT and LUISS Lab

11:30 AM - 1:30 PM

Parallel Sessions C: New Economic Measurement Issues

Including Valuables in Household Wealth

Rachel Soloveichik

11:30 AM - 1:30 PM

Parallel Sessions D: Contemporary Studies in Economic Measurement

Oil Prices and Trade Balance: A Wavelet Based Analysis for Turkey

Nuray Terzi, Marmara University
Sadullah Celik, Marmara University Istanbul

11:30 AM - 1:30 PM

Parallel Sessions D: Contemporary Studies in Economic Measurement

Measuring Price Differentiation in Provinces of Turkey

Emel Baydan, Marmara University

11:30 AM - 1:30 PM

Parallel Sessions D: Contemporary Studies in Economic Measurement

Survival Maximizing Leverage of an Economy: The Case of Greece

Haluk Yener, Kadir Has University
Thanasis Stengos, Guelph University
Ege Yazgan, Kadir Has University

11:30 AM - 1:30 PM

Parallel Sessions D: Contemporary Studies in Economic Measurement

Nowcasting Capital Flows for the Emerging Market of Turkey

Emel Odabasi, Marmara University

11:30 AM - 1:30 PM

1:30 PM

Conference Lunch

1:30 PM - 3:00 PM

3:00 PM

Parallel Sessions A: Monetary Policy and Wholesale Finance

Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry

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

3:00 PM - 5:00 PM

Parallel Sessions A: Monetary Policy and Wholesale Finance

Bond Market Liquidity and the Role of Repo

Yesol Huh, Board of Governors, U.S. Federal Reserve
Sebastian Bilbao, The Board of Governors of the Federal Reserve System

3:00 PM - 5:00 PM

Parallel Sessions A: Monetary Policy and Wholesale Finance

The Network of Large-Value Loans in the U.S.: Concentration and Segregation

Andon Badev, The Board of Governors of the Federal Reserve System
Francesca Carapella, Board of Governors, U.S. Federal Reserve
Garth Baughman, The Board of Governors of the Federal Reserve System

3:00 PM - 5:00 PM

Parallel Sessions A: Monetary Policy and Wholesale Finance

Competitive Search in Money Markets and Implementation of Monetary Policy

Francesca Carapella, Board of Governors, U.S. Federal Reserve
Garth Baughman, The Board of Governors of the Federal Reserve System

3:00 PM - 5:00 PM

Parallel Sessions B: Intangible Capital

Capturing Productivity Impacts of the ‘Free’ Apps and Other Advertising-Supported Media

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

3:00 PM - 5:00 PM

Parallel Sessions B: Intangible Capital

Modeling Intangible Investment in a Macro-econometric Framework

Fabio Bacchini, ISTAT
Cecilia Jona-Lasinio, Istituto Nazionale di Statistica

3:00 PM - 5:00 PM

Parallel Sessions B: Intangible Capital

An Experimental Human Capital Satellite Account for Canada

Wulong Gu, Statistics Canada
Ryan Macdonald, Statistics Canada

3:00 PM - 5:00 PM

Parallel Sessions B: Intangible Capital

Incorporating Health into Measures of Human Capital Stocks

Mary O'Mahony, Kings College
Lea Samek, King's College London

3:00 PM - 5:00 PM

Parallel Sessions C: Money and the Economy

Monetary Policy and Leverage Shocks

Apostolos Serletis, University of Calgary
Khandokar Istiak, University of South Alabama

3:00 PM - 5:00 PM

Parallel Sessions C: Money and the Economy

Divisia User Costs of Monetary Assets and the Federal Funds Rate

Victor Valcarcel, University of Texas at Dallas

3:00 PM - 5:00 PM

Parallel Sessions C: Money and the Economy

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

3:00 PM - 5:00 PM

Parallel Sessions C: Money and the Economy

A New Interpretation of Money Growth Targeting and the Monetarist Experiment

John Keating, University of Kansas
Andrew Lee Smith, Federal Reserve Bank of Kansas City

3:00 PM - 5:00 PM