Papers Presented

Presentations by Federal Reserve Bank of New York economists at academic conferences, university seminars, and business and policy meetings.
Browse Papers Presented:
2005
Tobias Adrian and Joshua Rosenberg
"Stock Returns and Volatility: Pricing the Short-Run
and Long-Run Components of Market Risk"

(PDF50pages / 483 kb)
  • University of Massachusetts finance seminar, Amherst, Massachusetts, February18
  • Adam Smith Asset Pricing conference, cosponsored by the London Business School, the London School of Economics, and Oxford University, London, England, March11
  • China International Conference, cosponsored by the China Center for Financial Research, Tsinghua University, and MIT's Sloan School of Management, Kunming, China, July6
  • Econometric Society World Congress, London, England, August24
  • European Finance Association annual meeting, Moscow, Russia, August26
  • Financial Management Association annual meeting, Chicago, Illinois, October13
  • Harvard Business School, Cambridge, Massachusetts, November30
  • Queen's University School of Business invited seminar, Kingston, Ontario, Canada, December 8
Roc Armenter
"Does the Time Inconsistency Problem Make Flexible Exchange Rates Look Worse Than You Think?" with MartinBodenstein
  • Centre de Recerca en Economia Internacional macroeconomics workshop, Universitat Pompeu Fabra, Barcelona, Spain, June21
"Time-Consistent Fiscal Policy and Heterogeneous Agents"
  • Society for Economic Dynamics annual meeting, Central European University, Budapest, Hungary, June 25
  • University of British Columbia, Vancouver, British Columbia, Canada, November 21
"Endogenous Productivity and Development Accounting," with AmartyaLahiri
  • Bank of Spain, Madrid, Spain, December 13
Adam Ashcraft
"Borrowers' Financial Constraints and the Transmission of Monetary Policy: Evidence from Financial Conglomerates," with MurilloCampello
  • NBER Summer Institute 2005 Monetary Economics Workshop, Cambridge, Massachusetts, July 12
Morten Bech
"Illiquidity in the Interbank System Payment Following Widespread Disruptions," with Rod Garratt
  • De Nederlandsche Bank research seminar, Amsterdam,
    the Netherlands, April14
  • Bank of England seminar, London, England, April24
  • European Central Bank, Frankfurt, Germany, November 8
Michele Braun
"Corporate Payments Services Survey Results," with SandyKrieger
  • National Automated Clearing House Association conference, San Antonio, Texas, April11
Nicola Cetorelli
"Finance as a Barrier to Entry," with PhilipStrahan
  • Conference cosponsored by the World Bank and New York University's Stern School of Business, Washington,D.C., January10
Astrid Dick
"Entry into Banking Markets and the Early-Mover Advantage," with AllenN.Berger
  • Bank of Canada, Ottawa, Ontario, Canada, November 8
Stefano Eusepi
"Central Bank Transparency under Model Uncertainty"
  • National Bank of Poland conference, Warsaw, Poland, June 2
  • Econometric Society World Congress, University College London, London, England, August22
  • European Economic Association 20th Annual Congress, Amsterdam, the Netherlands, August26
"Estimating the Deep Parameters of RBC Model with Learning," with StefaniaD'Amico
  • Society for Computational Economics conference, George Washington University, Washington, D.C., June24
Michael Fleming
"Monetary Policy Tick-by-Tick," with Monika Piazzesi
  • Vrije Universiteit Amsterdam seminar, Amsterdam, the Netherlands, September20
  • Conference on Open Market Operations and the Financial Markets, cosponsored by the Société Universitaire Européenne de Recherches Financières (SUERF) and the Bank of Finland, Helsinki, Finland, September23
Michael Fleming and Kenneth Garbade
"The Specials Market for U.S. Treasury Securities and the FederalReserve's Securities LendingProgram"
  • Danmarks Nationalbank workshop, Copenhagen, Denmark, November 28

Linda Goldberg
"Distribution Margins, Imported Inputs, and the Insensitivity of the CPI to ExchangeRates"

  • European Central Bank and Bank of Canada conference, held at the European Central Bank, Frankfurt, Germany, December7
"Establishing Credibility: Evolving Perceptions of the European Central Bank," with MichaelKlein
  • Allied Social Science Association meetings, Philadelphia, Pennsylvania, January7
  • Conference cosponsored by the Journal of International Money and Finance, the FrankJ.Petrilli Center for Research in International Finance at Fordham University, and the Trans-Atlantic Finance Institute, SanJuan, PuertoRico, March17
"Global Issues Affecting International Business"
  • American Institute of Certified Public Accountants convention, NewYorkCity, October27
  • Rockland County Economic Development Corporation conference, NewYorkCity, November18
"Trade Invoicing in the Accession Countries: Are They Suited
to the Euro?"
  • NBER conference, Budapest, Hungary, June18

Linda Goldberg and Cédric Tille
"Vehicle Currency Use in International Trade"

  • NBER conference, Cambridge, Massachusetts, April1
  • University of Houston Department of Economics seminar, Houston, Texas, May2
  • Conference cosponsored by Northwestern University and the European University Institute, Florence, Italy, June14
  • Boston College Department of Economics seminar, Boston, Massachusetts, November9

Erica Groshen
"The Interaction of Labor Markets and Inflation: Analysis of Micro Data from the International Wage Flexibility Project," with WilliamDickens, LorenzGoette, SteinarHolden, JulianMessina, MarkSchweitzer, JarkkoTurunen, and MelanieWard

  • NBER conference, Cambridge, Massachusetts, November5

Erica Groshen and Simon Potter
"Was the 2001 Recession Different in the Labor Market? Comparing Measures," with RebeccaSela

  • Conference cosponsored by the American Economic Association and the Allied Social Science Association, Philadelphia, Pennsylvania, January18
  • New School University Department of Economics seminar, NewYorkCity, November10

Andrew Haughwout
"How Should Cities Help Their Suburbs?" with RobertInman

  • University of California, Berkeley, Haas School of Business, Berkeley, California, May2

Rebecca Hellerstein
"A Decomposition of the Sources of Incomplete
Cross-Border Transmission: The Case of Beer"(PDF57pages / 475kb)

  • International Monetary Fund seminar, Washington,D.C., March22
  • University of California at Los Angeles Department of Economics seminar, Los Angeles, California, April 6
  • University of Southern California Department of Economics seminar, Los Angeles, California, April 7
  • Cornell University Department of Economics seminar, Ithaca, New York, April20
  • Northwestern University-European University Institute conference on Inflation, Interest Rates, and Relative Prices, Florence, Italy, June 14
  • Society for Economic Dynamics annual meeting, Budapest, Hungary, June 24
  • Purdue University Department of Economics seminar, WestLafayette, Indiana, October20
"Information Technology Erodes Cross-Border Segmentation:
The Case of Antiretrovirals"
  • American Economic Association annual conference, Philadelphia, Pennsylvania, January8
"Vertical Contracts and Exchange Rate Pass-Through"
  • Econometric Society winter meeting, Philadelphia, Pennsylvania, January8
"Vertical Contracts as a Source of Incomplete Cross-Border Transmission: The Case of Autos," with Sofia Berto Villas-Boas
  • Workshop on Globalization and Contracts, cosponsored by the Centre for Economic Policy Research and the Department and Laboratory of Theoretical and Applied Economics at the Ecole Normale Supérieure, Paris, France, April28
Bart Hobijn and Andrea Tambalotti
"Menu Costs at Work: Restaurant Prices and the Introduction of the Euro," with Federico Ravenna
  • Universitá di Pavia Department of Economics seminar, Pavia, Italy, March14
  • Society for Economic Dynamics annual meeting, Budapest, Hungary, June23
  • Econometric Society World Congress, London, England, August22
Miklós Koren
"Technological Diversification," with SilvanaTenreyro
  • Cornell University Economics Department seminar, Ithaca, NewYork, October12
Antoine Martin
"Banks, Markets, and Efficiency," with Falko Fecht
  • University of Connecticut Department of Economics seminar, Storrs, Connecticut, September 9
Jonathan McCarthy
"Has the Response of Investment to Financial Market Signals Changed?"
  • Eastern Economic Association conference, NewYorkCity, March4
Jonathan McCarthy and Richard Peach
"Is There a Bubble in the Housing Market Now?"
  • Networks Financial Institute conference, Indianapolis, Indiana, October12
Margaret McConnell and Joseph Tracy
"Unemployment Insurance and the Diminished Importance of Temporary Layoffs over the Business Cycle"
  • Society of Labor Economics meetings, San Francisco, California, June2
Hamid Mehran
"Board Committee Structure, Incentives, and Firm Performance," with RachelHayes and ScottSchaefer
  • University of Alabama seminar, Tuscaloosa, Alabama, March11
  • Rutgers University seminar, NewBrunswick, NewJersey, June10
  • European Financial Management Association annual meeting, Milan, Italy, July1
"Evidence on Outside Directors from Japan"
  • Vanderbilt University seminar, Nashville, Tennessee, March18
Donald Morgan
"Predatory Lending?" with SamuelHanson
  • Federal Reserve Bank of Chicago Conference on Bank Structure and Competition, Chicago, Illinois, May4
Andrea Moro and Giorgio Topa
"The Empirical Content of Models with Multiple Equilibria," with Alberto Bisin
  • Society for the Advancement of Economic Theory Conference on Current Trends in Economics, Vigo, Spain, June30
Paolo Pesenti
"Current Accounts and Global Rebalancing in a Multi-Country Simulation Model," with HamidFaruqee, DouglasLaxton, and DirkMuir
  • NBER conference on G7 Current Account Imbalances, Newport, RhodeIsland, June1
"The Global Economy Model (GEM): Design and Applications"
  • Bank of Canada International Department seminar, Ottawa, Canada, May10
"New Open-Economy Macroeconomic Theory and Applications"
  • IMF Institute Economics Training Program, International Monetary Fund, Washington, D.C., November14-16
"Productivity Spillovers, Terms of Trade, and the 'Home Market Effect,'" with GiancarloCorsetti and PhilippeMartin
  • American Economic Association annual meeting, Philadelphia, Pennsylvania, January7
  • NBER International Finance and Macroeconomics meeting, Cambridge, Massachusetts, March18
  • Centre for Economic Policy Research and Central Bank of Cyprus European Summer Symposium in International Macroeconomics, Limassol, Cyprus, May28
"Shocks, Reforms, and Monetary Rules: A Scenario Analysis forJapan"
  • Eighteenth Annual Trio Conference supported by the NBER, the Tokyo Center for EconomicResearch, the CEPR, and the Center for International Research on the Japanese Economy, held at the University of Tokyo, Tokyo, Japan, December10
"The Simple Geometry of Transmission and Stabilization in Closed and Open Economies," with GiancarloCorsetti
  • Harvard University Department of Economics lecture, Cambridge, Massachusetts, May9
"Smooth Landing or Crash? Model-Based Scenarios of Global Current Account Rebalancing," with HamidFaruqee, DouglasLaxton, and DickMuir
  • DSGE Modeling at Policymaking Institutions: Progress and Prospects, held at the Board of Governors of the FederalReserve System, Washington,D.C., December3
"Toward a Model for Monetary Policy Evaluation in Open Economy"
  • Bank of Japan invited lecture, Tokyo, Japan, December7
"Welfare-Based Monetary Policy Rules in an Estimated Model of the U.S. Economy," with MichelJuillard, PhilippeKaram, and DouglasLaxton
  • International Research Forum on Monetary Policy, European Central Bank, Frankfurt, Germany, May21
Robert Rich and Charles Steindel
"A Review of Core Inflation and an Evaluation of Its Measures"
  • Bank for International Settlements conference, Basel, Switzerland, October27
João Santos
"Bank Loans, Bonds, and Informational Monopolies across the Business Cycle," with AndrewWinton
  • Federal Reserve Bank of Chicago Conference on Bank Structure and Competition, Chicago, Illinois, May4
Asani Sarkar
"Intra-Day Trade Clustering and Two-Sided Markets," with RobertSchwartz and AvnerWolf
  • Conference on the Microstructure of Equity and Currency Markets, Norges Bank, Oslo, Norway, September9
  • Binghamton University seminar, Binghamton, New York, September23
  • NBER Market Microstructure Meeting, Cambridge, Massachusetts, October7
  • Rice University Graduate School of Management, Houston, Texas, November2
"Liquidity Dynamics and Cross-Autocorrelations,"
(PDF58pages / 504 kb) with Tarun Chordia and AvanidharSubrahmanyam
  • International Conference on New Financial Market Structures, held at HEC Montréal, Montreal, Canada, April8
Argia Sbordone
"A Limited Information Approach to the Simultaneous Estimation of Wage and Price Dynamics"
  • Society for Computational Economics, Eleventh International Conference on Computing in Economics and Finance, George Washington University, Washington, D.C., June 24
"A Search for a Structural Phillips Curve," with Timothy Cogley
  • Columbia Business School seminar, NewYork City, March15
  • Banque de France Workshop on Monetary Models and Aggregate Dynamics, Paris, France, June20
  • Symposium on Economics and Institutions, cosponsored by the Centre for Studies in Economics and Finance (CSEF) and the Innocenzo Gasparini Institute for Economic Research (IGIER), Capri, Italy, June29
  • NBER conference, Cambridge, Massachusetts, November4
Til Schuermann
"Firm Heterogeneity and Credit Risk Diversification," with SamuelHanson and HashemPesaran
  • NBER conference, Cambridge, Massachusetts, November10
"Scope for Credit Risk Diversification," with M. Hashem Pesaran and SamuelHanson
  • University of Massachusetts Department of Finance seminar, Amherst, Massachusetts, March11
  • Rutgers University Conference on Pacific Basin Finance, Economics, and Accounting, NewBrunswick, NewJersey, June11
Til Schuermann and Joshua Rosenberg
"A General Approach to Integrated Risk Management with Skewed, Fat-Tailed Risks"
  • Global Association of Risk Professionals 6th Annual Risk Management Convention, NewYorkCity, February2
  • Georgia Tech University seminar, Atlanta, Georgia, April1
  • Journal of Applied Econometrics Annual Lecture Series and Conference, Venice, Italy, June2
David Skeie
"Money and Modern Bank Runs" (PDF58pages / 434 kb)
  • Financial Management Association annual meeting, Chicago, Illinois, October13
Charles Steindel
"The Consumption-Wealth Effect"
  • Eastern Economic Association conference, NewYorkCity, March4
"Owners' Equivalent Rent and the Cost of Living"
  • National Association for Business Economics annual meeting, Chicago, Illinois, September26
Kevin Stiroh
"New Evidence on the Determinants of Bank-Specific Risk"(PDF36pages / 209 kb)
  • Basel Committee on Banking Supervision workshop, Oesterreichische Nationalbank, Vienna, Austria, April22
"Volatility Accounting: A Production View of Increased Economic Stability"(PDF56pages / 209 kb)
  • NBER 2005 Summer Institute Conference on Research in Income and Wealth, Cambridge, Massachusetts, July25
  • International Monetary Fund, Washington, D.C., December7
Cédric Tille
“Current Account Adjustment with High Financial Integration:
A Scenario Analysis,” with Michele Cavallo
  • Graduate Institute of International Economics, University of Geneva, Geneva, Switzerland, December20
"Current Avenues of Research in New Open Economy Macroeconomics"
  • Yale University Department of Economics lecture, NewHaven, Connecticut, February22
"Financial Integration and the Wealth Effect of Exchange Rate Fluctuations"
  • Yale University Department of Economics seminar, NewHaven, Connecticut, February22
  • City University of New York Graduate Center seminar, NewYorkCity, March1
  • National Bureau of Economic Research meeting, Cambridge, Massachusetts, March18
  • Cornell University seminar, Ithaca, NewYork, April13
  • Society for Economic Dynamics annual meeting, Budapest, Hungary, June23
  • Twentieth Annual Congress of the European Economic Association, University of Amsterdam, Amsterdam, the Netherlands, August27
Cédric Tille and Paolo Pesenti
"Stabilization, Competitiveness, and Risk-Sharing: A Model of Monetary Interdependence"
  • International Monetary Fund seminar, Washington,D.C., February1
Zhenyu Wang
"Public Provision of Private Liquidity," with SureshSundaresan
  • Kellogg School of Management, Northwestern University, Evanston, Illinois, September28
  • Binghamton University School of Management, Binghamton, NewYork, October31
  • International Association of Financial Engineers 2005 Liquidity Risk Symposium, NewYorkCity, December1
  • Bank of England, London, England, December7
George Zanjani
"Regulation, Capital, and the Evolution of Organizational Form in U.S. Life Insurance"
  • NBER conference, Cambridge, Massachusetts, February18