Society for Economic Dynamics
SED Annual Meeting
is co-hosted by Yonsei University (Global Research Team) Ministry of Strategy and Finance SED Annual Meeting The Bank of Korea June 27-29, 2013 Korea Development Institute Seoul, Korea
Society for Economic Dynamics gratefully acknowledges additional sponsorship of
© National Museum of Korea SED Annual Meeting 2013
is hosted by
SED 2013 | Society for Economic Dynamics http://www.economicdynamics.org/sed2013.htm
Program Chairs Virgiliu Midrigan - NYU Josep Pijoan-Mas - CEMFI
Local Organizers Yongsung Chang - University of Rochester & Yonsei University Jang-Ok Cho - Sogang University Sun-Bin Kim - Yonsei University Hyun Song Shin - Princeton University Kwanho Shin - Korea University Tack Yun - Seoul National University
SED 2013 | Society for Economic Dynamics SED 2013 | Society for Economic Dynamics
Contents
Message from the President 3
Program Committee Members 4
SED 2013 Schedule 5
Overview of Sessions by Day 6
Complete List of Sessions 9
Local Information 49
Transportation 51
Map of Conference Site 53
Restaurants Suggestions 55
City Map 60
List of Presenters 62
1
SED 2013 | Society for Economic Dynamics
Message from the President
Dear participants in our 2013 Annual Meeting, Welcome to the first SED meeting in Asia!
It’s a pleasure for me to welcome all of you to Seoul. For many of you it has been a long trip, for others at last a short one. But in any case, the SED meeting is home to all of us. Thanks to the excellent work of the program chairs, Virgiliu Midrigan and Josep Pijoan-Mas, and their collaborators, we have an exciting program and in our exchange of ideas, distances blur. As in previous years, many papers presented here will later appear in RED and other leading economic journals; I am sure they will benefit from discussions in and out of our sessions; so, there is much to thank the program organizers for.
Great papers, sessions and discussions are the landmark of our meetings, but the place, logistics and social events also define their success. On this score we should thank Yonsei University for hosting us, as well as thanking those who have provided financial support (Korean Ministry of Strategy and Finances, Bank of Korea, Korea Development Institute, and Samsung Corporation) and especially the local organizers who, behind the scenes, have collaborated through their efforts: Yongsung Chang, Jang-Ok Cho, Sun-Bin Kim, Hyun Song Shin, Kwanho Shin and Tack Yun. I am sure this year’s meeting is going to be fun too!
What is new for us – having a meeting in Asia – is only a reflection of something that is certainly not new in Economic Dynamics: the increasing number of Asian scholars contributing to our research, meetings, and journals. For many of you this meeting in Seoul may be a discovery of a vibrant city, while for the Society it is no more than an overdue recognition that excellent economic research is also spreading East.
Enjoy the meeting!
Ramon Marimon President of the Society for Economic Dynamics
3 SED 2013 | Society for Economic Dynamics
Program Committee Members
Program Chairs Virgiliu Midrigan New York Univ. Josep Pijoan-Mas CEMFI
Committee Azzimonti, Marina FRB of Philadelphia Moll, Benjamin Princeton Univ. Bai, Yan Univ. of Rochester Nakajima, Makoto FRB of Philadelphia Bianchi, Francesco Duke Univ. Nosal, Jaromir Duke Univ. Carvalho, Vasco CREI Ordonez, Guillermo Univ. of Pennsylvania Casanova, Maria Univ. of California, Los Angeles Ramondo, Natalia Arizona State Univ. Chien, Yili FRB of St. Louis Rendhal, Pontus Cambridge Univ. Colacito, Riccardo Univ. of North Carolina Rudanko, Leena Boston Univ. Cunha, Flavio Univ. of Pennsylvania Schaal, Edouard New York Univ. Fajgelbaum, Pablo Univ. of California, Los Angeles Scheuer, Florian Stanford Univ. Hassan, Tarek Univ. of Chicago (Booth) Schoellman, Todd Arizona State Univ. Hong, Jay Univ. of Rochester Schoonbroodt, Alice Univ. of Iowa Ilut, Cosmin Duke Univ. Schulhofer-Wohl, Sam FRB of Minneapolis Itskhoki, Oleg Princeton Univ. Shin, Yongseok Washington Univ. in St. Louis Kaboski, Joe Univ. of Notre Dame Shourideh, Ali Univ. of Pennsylvania (Wharton) Kaplan, Greg Princeton Univ. Simsek, Alp MIT Koehne, Sebastian IIES Song, Zheng Michael Univ. of Chicago (Booth) Kredler, Matthias Universidad Carlos III Waugh, Mike New York Univ. (Stern) Kurlat, Pablo Stanford Univ. Wiederholt, Mirko Goethe Univ. La'o, Jennifer Univ. of Chicago (Booth) Xu, Daniel Duke Univ. Lagakos, David Arizona State Univ. Yared, Pierre Columbia Univ. Lise, Jeremy Univ. College London Yogo, Motohiro FRB of Minneapolis Maziero, Pricila Univ. of Pennsylvania (Wharton) Yue, Vivian Federal Reserve Board Mertens, Thomas New York Univ.
4 SED 2013 | Society for Economic Dynamics
SED 2013 Schedule
Day Wednsday Thursday Friday Saturday Time June 26 June 27 June 28 June 29
09:00-09:45 Registration Registration Registration
09:45-11:45 Parallel Sessions Parallel Sessions Parallel Sessions
11:45-13:00 Lunch Lunch Lunch
13:00-15:00 Parallel Sessions Parallel Sessions Parallel Sessions
15:00-15:30 Coffee Break Coffee Break Coffee Break
15:30-17:30 Parallel Sessions Parallel Sessions Parallel Sessions
17:30-17:45 Coffee Break Coffee Break Coffee Break
Plenary Session Plenary Session Plenary Session 17:45-18:45 Mark Watson Hal Cole Gianluca Violante B130 B130 B130
Welcome Reception Lotte Hotel Sapphire Room BBQ and Beer (18:30 - 20:30) Conference Dinner Party Lotte Hotel Yonsei University Crystal Room President’s House (20:00-22:00) (19:00-21:00)
5 SED 2013 | Society for Economic Dynamics
Overview of Parallel Sessions Thursday, June 27
Time 09:45 - 11:45 13:00 - 15:00 15:30 - 17:30 Room
Productivity and Firm Dynamics and Fiscal Policy, Public Debt B106 Economic Growth Aggregate Productivity and Risk Sharing
Monetary and Labor Markets and B109 China Macroprudential Policy Unemployment
Uncertainty and Networks and B112 Sovereign Debt and Default the Macroeconomy Supply Chains
Housing, Leverage, Inflation and B120 Development and Growth Demand and the Recession Currency Risk
Fluctuations in Labor Supply Imports, Productivity B121 Macro and Finance and Insurance and Trade Reform
Dynamic Models of Topics in Credit Booms. 101 Old-Age Risks International Trade I Early Warnings?
Housing and 102 Trade and Inequality Political Economy Inventory Dynamics
Culture, Social Learning 110 Topics in IO Open Economy Macro and Human Development
Economic Growth and Earnings and 112 Financial Regulation Structural Change Labor Supply Dynamics
Labor and Technology Adoption, 113 Bankruptcy and Repayment Capital Market Frictions Innovation and Diffusion
Marriage, Divorce, Housing and Firm Dynamics 115 and Fertility Portfolio Choice and Financial Frictions
Information in 201 Macro Labor Advances in NDPF Finacial Markets
6 SED 2013 | Society for Economic Dynamics
Overview of Parallel Sessions Friday, June 28
Time 09:45 - 11:45 13:00 - 15:00 15:30 - 17:30 Room
Exchange Rates and Empirical Industrial B106 Inflation Dynamics Capital Controls Organization
Unemployment in B109 Wage Inequality I Expectations the Great Recession
Topics in Demand Effects and Labour Macroeconomics across B112 International Trade II Market Interactions Time and Space
Structural Transformation, Labor Market Search: Search and B120 Development, and Heterogeneity and Information Frictions Urbanization Aggregate Uncertainty
Macroeconomic Tax Policy in B121 Externalities with Financial International Capital Flows a Diverse World Frictions
Exchange Rates Firm Dynamics, Growth, 101 Productivity and Growth and Prices Trade, and Productivity
Default, Crises, and 102 Pricing Frictions International Macro Financial Intermediation
The Big Recession: Perspectives on 110 Aggregate Demand or Household Risk Sharing the Arab Spring Frictions to Reallocation?
Labor Supply and 112 Corporate Finance Macro Finance Aggregate Fluctuations
Robustness and Advances in 113 Asset Pricing Heterogeneous Beliefs Public Finance
Migration and Geography, Risk Sharing, 115 Labor Market Shocks Labor Markets and Income Inequality
Public Finance Financial Intermediation Policy Making and 201 in Aging Societies and the Macroeconomy the Great Recession
7 SED 2013 | Society for Economic Dynamics
Overview of Parallel Sessions Saturday, June 29
Time 09:45 - 11:45 13:00 - 15:00 15:30 - 17:30 Room
Bubbles and Identification Family, Demography, and Parameter Instability in B106 in DSGE Models the Macroeconomy DSGE Models
Monetary Policy Entry Costs, Firm Sizes, Tax Distortions and Political B109 and the Zero Bound and Development Economy on Interest Rates
Dynamic Taxation and Information Frictions: Unemployment, Product B112 Insurance Theory and Evidence Markets and Search
Human Capital and Search in the Housing Uncertainty, Expectations B120 Development Market and Business Cycles
International B121 Government Spending Barriers to Reallocation Macro-Finance
Uncertainty and Sovereign Default, Savings 101 Global Production Fluctuations and Capital Flows
Output, Inflation, Longevity, Fertility, and 102 and International Solution Methods Health Macroeconomic Dynamics
Monetary Policy and Human Capital and 110 Search Theory Welfare Technical Change
Household Insurance and Global and Repeated 112 Risk and Portfolio Choice Credit Games
Inequality and 113 Labor and Finance Wage Inequality II Intergenerational Mobility
Financial Frictions Money, Liquidity, and The Service Sector across 115 and Field Experiments Trading in OTC Markets Time and Countries in General Equilibrium
Networks in 201 Sovereign Debt Trade and Development Macroeconomics
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Thursday June 27, 09:45 - 11:45
Productivity and Economic Growth Location: B106
Size-Dependent Regulations, Firm Size Distribution, and Reallocation Francois Gourio; Nicolas Roys, University of Wisconsin – Madison
Investment and Productivity Dynamics at the Plant and the Firm Level Matthias Kehrig, University of Texas at Austin; Nicolas Vincent
Dynamic Sorting Simeon Alder, University of Notre Dame; Moritz Meyer-ter-Vehn; Lee Ohanian
Rethinking the Growth of Nations Alexander Monge-Naranjo; Juan Sanchez, FRB of St. Louis; Raul Santaeulalia-Llopis
Dynamic Models of Old-Age Risks Location: 101
The Joint Implications of Medicaid and Social Security for Savings and Welfare Karen Kopecky, FRB of Atlanta; R. Braun; Tatyana Koreshkova
Explaining the Decline of the U.S. Saving Rate: the Joint Role of Health Expenditure and Employer Contributions Bela Szemely, Boston University
Dynamic Wage and Employment Effects of Elder Parent Care Meghan Skira, University of Georgia
Long-Term Care: Macroeconomic Implications and Policy Daniel Barczyk; Matthias Kredler, Universidad Carlos III Madrid
Macro Labor Location: 201
Worker Flows under Mismatch William Hawkins, Yeshiva University
The Joint Dynamics of Capital and Employment at the Plant Level Ryan Michaels, University of Rochester
How Sticky Wages in Existing Jobs Can Affect Hiring Mark Bils, University of Rochester; Yongsung Chang; Sun-Bin Kim
Monetary Policy with Heterogeneous Agents Makoto Nakajima; FRB of Philadelphia
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Thursday June 27, 09:45 - 11:45
Sovereign Debt and Default Location: B112
In for a Penny, In for a 100 Billion Pounds: Quantifying the Welfare Benefits from Debt Relief Daniel Dias; Christine Richmond; Mark Wright, UCLA
Efficient Sovereign Default Alessandro Dovis; University of Minnesota
Partial Default Cristina Arellano; Xavier Mateos-Planas, Queen Mary University of London; Jose-Victor Rios-Rull
Maturity Structure and Debt Renegotiation in International Lending Jaromir Nosal, Columbia University
Fluctuations in Macro and Finance Location: B121
Liquidity Management and Monetary Policy Javier Bianchi, University of Wisconsin - Madison; Saki Bigio
Investor Polarization, Trading Volume, and Return Dynamics Marcin Kacperczyk; Jaromir Nosal; Luminita Stevens, University of Maryland
Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models David Berger, Northwestern University
A Traffic Jam Theory of Recessions Jennifer La'O, University of Chicago
China Location: B109
Multiplier Effects of Government Spending: A Tale of China Xin Wang, Tsinghua University; Yi Wen
The One-Child Policy and Household Savings in China Nicolas Coeurdacier, Sciences Po Paris; Keyu Jin
A Model of China’s State Capitalism Xi Li; Wuewen Liu; Yong Wang, Hong Kong University of Science and Technology
The Effect of Economic Reform and Industrial Policy in a Panel of Chinese Cities Simon Alder; Lin Shao, Washington University of St. Louis; Fabrizio Zilibotti
10 SED 2013 | Society for Economic Dynamics
Thursday June 27, 09:45 - 11:45
Housing, Leverage, Demand and the Recession Location: B120
Demand Shocks and Open Economy Puzzles Yan Bai, University of Rochester; Jose-Victor Rios-Rull
Household Leverage and the Recession Virgiliu Midrigan, New York University; Thomas Philippon
Did the Housing Bust Cause the Great Recession? Greg Kaplan; Kurt Mitman, University of Pennsylvania; Gianluca Violante
Wealth and Volatility Jonathan Heathcote; Fabrizio Perri, University of Minnesota
Culture, Social Learning and Human Development Location: 110
Cultures, Worldviews, and Intergenerational Altruism Kohei Kubota; Akiko Kamesaka; Masao Ogaki, Keio University; Fumio Ohtake
Why Do Europeans Steal So Much More Than Americans? Marek Kapicka, University of California Santa Barbara; Peter Rupert; Giulio Zanella
The Human Value Index Christian Zimmermann, FRB of St. Louis
Supervised Social Learning Johannes Horner, Yale University
Labor and Capital Market Frictions Location: 113
Equilibrium Default and Slow Recoveries Julio Blanco; Joseph Mullins; Gaston Navarro, New York University
Startups, Credit, and the Jobless Recovery Immo Schott, European University Institute
Net Leverage, Risk, and Credit Spreads Berardino Palazzo, Boston University, School of Management
Bank Leverage Cyles Galo Nuno; Carlos Thomas, Banco de España
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Thursday June 27, 09:45 - 11:45
Marriage, Divorce, and Fertility Location: 115
The Demographic Consequences of Gender Selection Technology Qi Li; Juan Pantano, Washington University in St. Louis
Marriage, Social Insurance and Labor Supply Hamish Low; Costas Meghir; Luigi Pistaferri; Alessandra Voena, University of Chicago
Sex Ratios and Long-Term Marriage Trends Satoshi Tanaka, University of Queensland; Jose-Victor Rios-Rull; Shannon Seitz
Divorce, Remarriage and Old Age Poverty Maria Casanova, UCLA; Clement Joubert
Trade and Inequality Location: 102
Trade Imbalances and Wage Inequality Rosario Crinò, CEMFI; Paolo Epifani
Offshoring, Low-skilled Immigration and Labor Market Polarization Federico Mandelman; Andrei Zlate, Board of Governors of the Federal Reserve System
Import Switching and the Impact of a Large Devaluation Dan Lu, the University of Rochester
Financial Regulation Location: 112
The Regulation of Money Market Funds: Adding Discipline to the Policy Debate Cecilia Parlatore Siritto, University of Pennsylvania
Optimal Policy for Macro-Financial Stability Gianluca Benigno; Huigang Chen; Christopher Otrok, University of Missouri and St Louis Fed; Alessandro Rebucci; Eric Young
Managing Financial Crises: Lean or Clean? Mitsuru Katagiri; Ryo Kato; Takayuki Tsuruga, Kyoto Unviersity
Interest Rate Policy and Financial Regulation: How to Control Excessive Risk Taking? Simona Cociuba, University of Western Ontario; Malik Shukayev; Alexander Ueberfeldt
12 SED 2013 | Society for Economic Dynamics
Thursday June 27, 13:00 - 15:00
Uncertainty and the Macroeconomy Location: B112
Financial Distress and Endogenous Uncertainty Francois Gourio, Boston University
Identifying Long-Run Risks: A Bayesian Mixed-Frequency Approach Frank Schorfheide; Dongho Song, University of Pennsylvania; Amir Yaron
Beliefs and Fluctuations: A Quantitative Exploration George-Marios Angeletos; Fabrice Collard, University of Bern; Harris Dellas
Uncertainty Shocks, Asset Supply and Pricing over the Business Cycle Francesco Bianchi; Cosmin Ilut, Duke University; Martin Schneider
Topics in International Trade I Location: 101
Love for Quality, Comparative Advantage, and Trade Esteban Jaimovich, University of Surrey; Vincenzo Merella
Trade Patterns, Income Differences and Gains from Trade Wyatt Brooks, University of Notre Dame; Pau Pujolas
Trade and Interdependence in a Spatially Complex World Michal Fabinger, Pennsylvania State University
Financial Development and International Trade Fernando Leibovici, New York University and York University
Inflation and Currency Risk Location: B120
Money, Markets & Intermediaries Martin Schneider, Stanford University
Expectations from the Term Structure Arunima Sinha, Santa Clara University
What Do Nominal Rigidities and Monetary Policy Tell Us about the Real Yield Curve? Alex Hsu, Georgia Tech; Francisco Palomino
Who Bears Long-Run Inflation Risk? Implications for Bond Risk Premia YiLi Chien, FRB of St. Louis; Harold Cole; Hanno Lustig
13 SED 2013 | Society for Economic Dynamics
Thursday June 27, 13:00 - 15:00
Housing and Portfolio Choice Location: 115
Renegotiating Distressed Mortgage Loans: A Structural Estimation Hanming Fang; You Suk Kim; Wenli Li, FRB of Philadelphia
Mortgage Market Concentration, Foreclosures and House Prices Giovanni Favara, Federal Reserve Board
House Prices, Household Leverage, and Entrepreneurship Stefano Corradin, European Central Bank
The Home Bias of the Poor: Terms of Trade Effects and Portfolios across the Wealth Distribution Tobias Broer, Stockholm University
Labor Supply and Insurance Location: B121
A Life-Cycle Model of Unemployment and Disability Insurance Sagiri Kitao, Hunter College
Hours and Occupations Andres Erosa; Luisa Fuster; Gueorgui Kambourov, University of Toronto; Richard Rogerson
Heterogeneity and Government Revenues: Does Tax Progressivity Matter? Nezih Guner, ICREA-MOVE; Martin López Daneri; Gustavo Ventura
Labor Supply, Endogenous Wage Dynamics and Tax policy Árpád Ábrahám, European University Institute; Jay Hong; Ricardo Santos
Firm Dynamics and Aggregate Productivity Location: B106
Industry Dynamics, Investment and Business Cycles Julieta Caunedo, Washington University in St. Louis
Financing Constraints, Firm Dynamics and Innovation Andrea Caggese, Pompeu Fabra University
Financial Stress and Economic Dynamics: The Transmission of Crises Kirstin Hubrich, European Central Bank; Robert Tetlow
The Financing and Growth of Firms in China and India: Evidence from Capital Markets Tatiana Didier, World Bank; Sergio Schmukler
14 SED 2013 | Society for Economic Dynamics
Thursday June 27, 13:00 - 15:00
Information in Finacial Markets Location: 201
Intermediating Adverse Selection Christian Opp, University of Pennsylvania; Vincent Glode
Trading Dynamics with Adverse Selection and Search Jonathan Chiu, Bank of Canada; Thorsten Koeppl
Markets with Multidimensional Private Information Veronica Guerrieri; Robert Shimer, University of Chicago
The Social Value of Expertise Pablo Kurlat, Stanford University
Monetary and Macroprudential Policy Location: B109
Monetary Policy in Korea through the Lense of Taylor Rule in DSGE Model Tae Bong Kim, Korea Development Institute
Monetary Policy, External Finance Dependence, and the Cross-section of Stock Returns: A FAVAR Approach Tiago Berriel, EPGE-FGV; Carlos Carvalho; Victor Duarte
Expectations and Fluctuations: The Role of Monetary Policy Michael Rousakis, European University Institute
Assessing the Effects of Macroprudential Policy Measures in Korea Changho Choi, Bank of Korea
Topics in IO Location: 110
Campaign Finance in U.S. House Elections Kei Kawai, New York University
Market Effects of Patent Reform in the US Semiconductor Industry Jeff Thurk, University of Notre Dame
The Role of Entrepreneurial Wealth in Team Formation Galina Vereshchagina, Arizona State University
Customer Driven Establishment Dynamics and Allocative Efficiency Allen Tran, UCLA
15 SED 2013 | Society for Economic Dynamics
Thursday June 27, 13:00 - 15:00
Bankruptcy and Repayment Location: 113
Austerity and Bailouts in Sovereign Debt Restructuring David Benjamin, SUNY Buffalo; Mark Wright
Debt Dilution and Seniority in a Model of Defaultable Sovereign Debt Burcu Eyigungor, Phildalephia FRB; Satyajit Chatterjee
Modeling the Credit Card Revolution: The Role of Debt Collection and Informal Bankruptcy Lukasz Drozd, Wharton School of the University of Pennsylvania
Screening as a Unified Theory of Delinquency, Renegotiation and Bankruptcy Natalia Kovrijnykh; Igor Livshits, University of Western Ontario
Economic Growth and Structural Change Location: 112
Asymmetric Information, Government Credit Subsidy, and Economic Growth Yong Wang, City University of Hong Kong
Redefining Industrial Revolution: Song China and England Ronald A. Edwards, Tamkang University
Structural Change and the Kaldor Facts in a Growth Model with Relative Price Effects and Non-Gorman Preferences Timo Boppart, IIES and Stockholm University
Economic Reforms and the Evolution of China's TFP Chadwick Curtis, University of Richmond
Political Economy Location: 102
Implications of Fiscal Constraints Fernando Martin, FRB of St. Louis
Political Economy in a Changing World Daron Acemoglu; Georgy Egorov, Northwestern University; Konstantin Sonin
Efficiency Gains from Wealth Taxation Daphne Chen; Fatih Guvenen; Gueorgui Kambourov; Burhanettin Kuruscu, University of Toronto
The Political Economy of Entry Barriers Toshihiko Mukoyama; Latchezar Popov, The University of Virginia
16 SED 2013 | Society for Economic Dynamics
Thursday June 27, 15:30 - 17:30
Fiscal Policy, Public Debt and Risk Sharing Location: B106
Expiring Budgets and Wasteful Year-End Spending in Federal Procurement Neale Mahoney, University of Chicago
How Well Did Social Security Mitigate the Effects of the Great Recession? William Peterman, Federal Reserve Board of Governors; Kamila Sommer
Public Deficit Bias and Immigration Michael Ben-Gad, City University London
Tax Competition and Migration Laurent Simula, Uppsala University
Networks and Supply Chains Location: B112
Losing to Win: Reputation Management of Online Sellers Ying Fan; Jiandong Ju; Mo Xiao, University of Arizona
Financial Constraints and Franchising Decisions Ying Fan, University of Michigan; Kai-Uwe Kuhn; Francine Lafontaine
Institutions and the Sectoral Organization of Production Ana Fernandes, University of Bern; Berner Fachhochschule
The Welfare Effects of Vertical Integration in Multichannel Television Markets Gregory Crawford; Robin Lee, Stern School of Business of NYU; Michael Whinston; Ali Yurukoglu
Credit Booms. Early Warnings? Location: 101
When Credit Bites Back Oscar Jorda, FRB of San Francisco; Moritz Schularick; Alan Taylor
Aggregate Uncertainty and the Supply of Credit Fabian Valencia, International Monetary Fund; Jeanne Verrier
Anatomy of Credit Booms and Their Demise Enrique Mendoza; Marco Terrones, International Monetary Fund
Political Booms, Financial Crises Helios Herrera, Columbia University; Guillermo Ordonez; Christoph Trebesch
17 SED 2013 | Society for Economic Dynamics
Thursday June 27, 15:30 - 17:30
Imports, Productivity and Trade Reform Location: B121
Imported Inputs, Quality Complementarity, and Skill Demand Diego Saravia; Nico Voigtlaender, UCLA
International Trade with Inattentive Importers Kunal Dasgupta; Jordi Mondria, University of Toronto
Using the New Products Margin to Predict the Sectoral Impact of Trade Reform Timothy Kehoe, University of Minnesota; Jack Rossbach; Kim Ruhl
Firms, Destinations, and Aggregate Fluctuations Julian di Giovanni; Andrei Levchenko; Isabelle Mejean, Ecole Polytechnique
Firm Dynamics and Financial Frictions Location: 115
Intangibles and Endogenous Firm Volatility over the Business Cycle Pablo D'Erasmo; Hernan Moscoso Boedo, University of Virginia
Dynamics of Firms and Trade in General Equilibrium Robert Dekle; Hyeok Jeong, KDI School; Nobuhiro Kiyotaki
Financial Frictions, Investment and Tobin’s q Dan Cao, Georgetown University; Guido Lorenzoni; Karl Walentin
Diversification, Cost Structure, and the Stock Returns of Multinational Corporations Jose Fillat; Stefania Garetto, Boston University; Lindsay Oldenski
Development and Growth Location: B120
Long-Run Misallocation in the Labor Market: Evidence from Germany's Post-War Population Transfers Michael Peters, Yale University
Apprenticeship and Technological Progress in the Malthusian World David de la Croix; Matthias Doepke, Northwestern University; Joel Mokyr
Constraints to the Growth of Firms: All in the Family? David Atkin; Francisco Buera, UCLA; Amit Khandelwal; Yongseok Shin
Financial Frictions and Industrial Policies Oleg Itskhoki; Benjamin Moll, Princeton University
18 SED 2013 | Society for Economic Dynamics
Thursday June 27, 15:30 - 17:30
Advances in NDPF Location: 201
Social Security is NOT a Substitute for Annuities Frank Caliendo; Lei (Nick) Guo; Roozbeh Hosseini, Arizona State University
Machines, Buildings, and Optimal Dynamic Taxes Ctirad Slavik, Goethe University in Frankfurt; Hakki Yazici
Strategic Default Antonio Mele, University of Surrey
Taxation and Redistribution of Residual Income Inequality Pricila Maziero, University of Pennsylvania
Open Economy Macro Location: 110
Third-Country Effects on the Exchange Rate Kimberly Berg, University of Notre Dame; Nelson Mark
The Risk Premium and Long-Run Global Imbalances YiLi Chien; Kanda Naknoi, University of Connecticut
The Great Recession: A Self-Fulfilling Global Panic Philippe Bacchetta, University of Lausanne; Eric van Wincoop
Exchange Rates as an Instrument of Monetary Policy Ilian Mihov; Ana Maria Santacreu, INSEAD
Technology Adoption, Innovation and Diffusion Location: 113
Cumulative Innovation, Growth and Welfare-Improving Patent Policy Edwin Lai, Hong Kong University of Science and Technology
Shared Rights and Technological Progress Matthew Mitchell; Yuzhe Zhang, Texas A&M University
Directed Technological Change: A Quantitative Analysis Robert Tamura, Clemson University; Michal Jerzmanowski
Spin-offs: Theory and Evidence from the Early U.S. Automobile Industry Luis Cabral; Zhu Wang, FRB of Richmond
19 SED 2013 | Society for Economic Dynamics
Thursday June 27, 15:30 - 17:30
Housing and Inventory dynamics Location: 102
House Prices and Monetary Policy: Focus on The Elasticity of Intra-Temporal Substitution between Housing and Consumption In Ho Song, Korea Development Institute
Mortgage Guarantees and House Price Inflation: A Quantitative Analysis Omer Acikgoz; James Kahn, Yeshiva University
House Price Dynamics with Household Debt: the Korean Case Hyun Jeong Kim; Jong Chil Son, The Bank of Korea; Myoung-Soo Yie
Can News Shocks Account for the Business-cycle Dynamics of Inventories? Nicolas Crouzet; Hyunseung Oh, Columbia University
Earnings and Labor Supply Dynamics Location: 112
Post Schooling Human Capital Investments and the Life Cycle Variance of Earnings Nicolas Pistolesi, Toulouse School of Economics (GREMAQ); Thierry Magnac; Sebastien Roux
Better Workers Move to Better Firms: A Simple Test to Identify Sorting Cristian Bartolucci, Collegio Carlo Alberto; Francesco Devicienti
Career Progression, Economic Downturns, and Skills Jerome Adda; Christian Dustmann, University College London; Costas Meghir; Jean-Marc Robin
Employer Learning, Job Mobility, and Wage Dynamics Seik Kim; Emiko Usui, Nagoya University
Labor Markets and Unemployment Location: B109
Endogenous Dual Labor Markets Enchuan Shao; Pedro Silos, FRB of Atlanta
The Cyclical Behavior of Equilibrium Unemployment and Vacancies Across OECD Countries Pedro Amaral, FRB of Cleveland; Murat Tasci
On Households and Unemployment Sekyu Choi, Universitat Autonoma de Barcelona
Optimal Unemployment Insurance with Monitoring Ofer Setty, Tel Aviv University
20 SED 2013 | Society for Economic Dynamics
Thursday June 27, 17:45 - 18:45
Mark Watson Plenary Location: B130
Friday June 28, 09:45 - 11:45
Inflation Dynamics Location: B106
Inflation Announcements and Social Dynamics Kinda Hachem, University of Chicago; Jing Cynthia Wu
Indeterminacy and Learning: An Analysis of Monetary Policy in the Great Inflation Thomas Lubik, FRB of Richmond; Christian Matthes
What Explains Japan's Persistent Deflation? Carlos Carvalho, Pontificia Universidade Catolica do Rio de Janeiro; Andrea Ferrero
Inflation Dynamics During the Financial Crisis Simon Gilchrist; Raphael Schoenle; Jae Sim, Federal Reeserve Board; Egon Zakrajsek
Topics in International Trade II Location: B112
Inter-Regional Trade, Inter-Sectoral Trade, and Productivity Lorenzo Caliendo, Yale University; Fernando Parro; Esteban Rossi-Hansberg; Pierre-Daniel Sarte
Trade Reforms, Foreign Competition, and Labor Market Adjustments in the U.S. Illenin Kondo, Federal Reserve Board
The Intensive Margin of Imports and Firm Productivity Joaquin Blaum, Brown University; Claire Lelarge; Michael Peters
Measuring the Unequal Gains From Trade Pablo Fajgelbaum, UCLA; Amit Khandelwal
21 SED 2013 | Society for Economic Dynamics
Friday June 28, 09:45 - 11:45
Macroeconomic Externalities with Financial Frictions Location: B121
Macroprudential Regulation versus Mopping Up after the Crash Olivier Jeanne; Anton Korinek, Johns Hopkins University and IMF
Fiscal Unions Emmanuel Farhi, Harvard University
Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area Dominic Quint, Free University Berlin
Liquidity Trap and Excessive Leverage Anton Korinek; Alp Simsek, Massachusetts Institute of Technology
Structural Transformation, Development, and Urbanization Location: B120
Urbanization with and without Structural Transformation Remi Jedwab, George Washington University and LSE
Sectoral Technology and Structural Transformation Akos Valentinyi, Cardiff Business School
Financial Frictions and Agricultural Productivity Differences Junmin Liao; Wei Wang, Washington University in St. Louis
Stages of Diversification and Industry Productivity Differences Roberto Samaniego, George Washington University
Migration and Labor Markets Location: 115
Dual Income Couples and Interstate Migration Bulent Guler, Indiana University - Bloomington
Immigration Restrictions and Skill Premia John Kennan, University of Wisconsin - Madison
The Native-Immigrant Wage Gap in the United States Rebecca Lessem; Carl Sanders, Washington University in St. Louis
Regional Mismatch and Labor Reallocation in an Equilibrium Model of Migration Plamen Nenov, Norwegian Business School (BI)
22 SED 2013 | Society for Economic Dynamics
Friday June 28, 09:45 - 11:45
Unemployment in the Great Recession Location: B109
Sectoral Shocks, the Beveridge Curve and Monetary Policy Dmitriy Sergeyev, Columbia University; Neil Mehrotra
Job Search Behavior over the Business Cycle Toshihiko Mukoyama, University of Virginia; Christina Patterson; Aysegul Sahin
Unemployment Benefits and Unemployment in the Great Recession: The Role of Macro Effects Marcus Hagedorn; Fatih Karahan, FRB of New York; Iourii Manovskii; Kurt Mitman
Hysteresis in Unemployment and Jobless Recoveries Dmitry Plotnikov, UCLA
Perspectives on the Arab Spring Location: 110
Medieval Universities, Legal Institutions, and the Commercial Revolution Davide Cantoni; Noam Yuchtman, UC Berkeley
"The People Want the Fall of the Regime": Schooling, Political Protest, and the Economy Filipe Campante, Harvard University
Corruption Networks and the Balance of Power in Egypt's Arab Spring Daron Acemoglu; Tarek Hassan, The University of Chicago; Ahmed Tahoun
Exchange Rates and Prices Location: 101
Pass-through Across Products and Time David Berger; Joseph Vavra, University of Chicago
Product Introductions, Currency Unions, and the Real Exchange Rate Alberto Cavallo, MIT; Brent Neiman; Roberto Rigobon
IKEA: Product, Pricing, and Pass-Through Marianne Baxter; Anthony Landry, University of Pennsylvania
Importers, Exporters, and Exchange Rate Disconnect Oleg Itskhoki, Princeton University
23 SED 2013 | Society for Economic Dynamics
Friday June 28, 09:45 - 11:45
Robustness and Heterogeneous Beliefs Location: 113
The Role of Bounded Rationality in Macro-Finance Affine Term-Structure Models Jinsook Kim; Eunmi Ko; Tack Yun, Seoul National University
Robust Preference Expansions Jaroslav Borovicka, New York University; Lars Hansen
Woodford's Approach to Robust Policy Analysis in a Linear-Quadratic Framework Hyosung Kwon, Boston University; Jianjun Miao
Policy Design with Private Sector Skepticism in the Textbook New Keynesian Model Robert King; Yang Lu, Hong Kong University of Science and Technology; Ernesto Pasten
Pricing Frictions Location: 102
Learning to Price Isaac Baley, New York University; Julio Blanco
Time- and State-Dependent Pricing: A Unified Framework Marco Bonomo, Fundação Getulio Vargas; Carlos Carvalho; Rene Garcia
Estimating Quarterly Different Price and Wage Rigidity and Its Implication for Monetary Policy Sung Ho Park, Bank of Korea
Menu Costs, Trade Flows, and Exchange Rate Volatility Logan Lewis, Federal Reserve Board
Public Finance in Aging Societies Location: 201
The Role of Social Insurance Programs in Accounting for Cross-Country Differences in Retirement Behavior Tobias Laun; Johanna Wallenius, Stockholm School of Economics
On Financing Retirement with an Aging Population Ellen McGrattan, FRB of Minneapolis; Edward Prescott
Achieving Fiscal Balance in Japan Selahattin Imrohoroglu, University of Southern California; Sagiri Kitao; Tomoaki Yamada
Health Heterogeneity and the Preferences for Consumption Growth Jay Hong; Josep Pijoan-Mas, CEMFI; Jose-Victor Rios-Rull
24 SED 2013 | Society for Economic Dynamics
Friday June 28, 09:45 - 11:45
Corporate Finance Location: 112
Financing Growth without Banks: Korean Housing Repo Contract Se-Jik Kim, Seoul National University; Hyun Shin
Is Bank Debt Special for the Transmission of Monetary Policy? Evidence from the Stock Market Filippo Ippolito; Ali Ozdagli, FRB of Boston; Ander Perez
Contingent Convertible Bonds and Capital Structure Decisions Boris Albul; Dwight Jaffee; Alexei Tchistyi, Haas School of Business of UC Berkeley
Dynamic Corporate Liquidiy Lukas Schmid; Roberto Steri, Duke University
25 SED 2013 | Society for Economic Dynamics
Friday June 28, 13:00 - 15:00
Tax Policy in a Diverse World Location: B121
Taxation and the Allocation of Talent Ben Lockwood; Charles Nathanson; Eric Weyl, University of Chicago
Financial Transaction Taxes and Fire Sales Felix Bierbrauer, University of Cologne
Taxing Top Earners: A Human Capital Perspective Alejandro Badel, St. Louis Fed; Mark Huggett
Capital Taxation with Multidimensional Heterogeneity Casey Rothschild; Florian Scheuer, Stanford University
Financial Intermediation and the Macroeconomy Location: 201
Banking, Liquidity and Bank Runs in an Infinite Horizon Economy Nobuhiro Kiyotaki, Princeton University
A Macroeconomic Framework for Quantifying Systemic Risk Zhiguo He, University of Chicago, Booth School of Busniess
The I-Theory of Money Markus Brunnermeier; Yuliy Sannikov, Princeton University
Deleveraging versus Default Guillermo Ordonez; David Perez-Reyna; Motohiro Yogo, FRB of Minneapolis
Exchange Rates and Capital Controls Location: B106
Capital Controls or Real Exchange Rate Policy? A Pecuniary Externality Perspective Christopher Otrok; Alessandro Rebucci; Eric Young, University of Virginia
FX Funding Risks and Exchange Rate Volatility - Korea's Case Kyoungsoo Yoon, The Bank of Korea
Capital Inflows and Exchange Rate Volatility in Korea Kyuil Chung, The Bank of Korea
Capital Controls: a Normative Analysis Bianca De Paoli; Anna Lipinska, Federal Reserve Board
26 SED 2013 | Society for Economic Dynamics
Friday June 28, 13:00 - 15:00
Search and Information Frictions Location: B120
Consumers' Imperfect Information and Price Rigidities Jean-Paul L'Huillier, Einaudi Institute for Economics and Finance
Informational Fragility of Dynamic Rational Expectations Equilibria Giacomo Rondina, University of California, San Diego
Customer Relationship and Sales Shouyong Shi, University of Toronto
The Social Value of Private Information Thomas Mertens, New York University
Wage Inequality I Location: B109
Occupational Complexity, Experience, and the Gender Wage Gap Elisa Keller, University of Iowa
Cyclical Employment and Learning Ability Jongsuk Han, University of Rochester
Math Matters: Student Ability, College Majors, and Wage Inequality Andrew Rendall, University of Zurich; Michelle Rendall
Job Polarization : Market Responses to Interindustry Wage Differentials Myungkyu Shim, UCSD; Hee-Seung Yang
The Big Recession: Aggregate Demand or Frictions to Reallocation? Location: 110
Long-term Unemployment: Attached and Mismatched? David Wiczer, University of Minnesota
Sectoral Shocks, Reallocation and Unemployment in a Model of Competitive Labor Markets Maximiliano Dvorkin, Yale University
Job Destruction without Job Creation: Structural Trasformation in the Overborrowed America Alessandro Galesi; Claudio Michelacci, CEMFI
Job Uncertainty and Deep Recessions Morten Ravn; Vincent Sterk, University College London
27 SED 2013 | Society for Economic Dynamics
Friday June 28, 13:00 - 15:00
Firm Dynamics, Growth, Trade, and Productivity Location: 101
Eventually, Noise and Imitation Implies Balanced Growth Erzo Luttmer, University of Minnesota
Dynamic Selection and the New Gains from Trade with Heterogeneous Firms Thomas Sampson, London School of Economics
The Informativeness of Stock Prices, Misallocation and Aggregate Productivity Joel David, USC; Hugo A. Hopenhayn; Vaidyanathan Venkateswaran
Equilibrium Technology Diffusion, Trade, and Growth Jesse Perla; Christopher Tonetti, New York University; Mike Waugh
Demand Effects and Labour Market Interactions Location: B112
Understanding Non-Inflationary Demand Driven Business Cycles Paul Beaudry; Franck Portier, Toulouse School of Economics
A Theory of Aggregate Supply and Aggregate Demand as Functions of Market Tightness with Prices as Parameters Pascal Michaillat, London School of Economics; Emmanuel Saez
Precautionary Saving and Aggregate Demand Edouard Challe, Ecole Polytechnique; Julien Matheron; Xavier Ragot; Juan Rubio-Ramirez
Unemployment (Fears), Precautionary Savings, and Aggregate Demand Pontus Rendahl, University of Cambridge
Asset Pricing Location: 113
"Shooting" the CAPM Hang Bai; Howard Kung, University of British Columbia; Lu Zhang
Asset Prices with Heterogeneity in Preferences and Beliefs Harjoat Bhamra, University of British Columbia; Raman Uppal
Financial Expertise and Asset Prices Andrea Eisfeldt, UCLA Anderson School of Management; Hanno Lustig; Lei Zhang
Asset Pricing in the Frequency Domain: Theory and Empirics Ian Dew-Becker, FRB of San Francisco; Stefano Giglio
28 SED 2013 | Society for Economic Dynamics
Friday June 28, 13:00 - 15:00
Labor Market Shocks Location: 115
Time and Space Aggregation of the Labor Market Flows Katarina Borovickova, New York University
The Effect of Moral Hazard on Wage Inequality with On-the-Job Search and Employer Competition Árpád Ábrahám; Susanne Forstner, Institute for International Economic Studies
On The Welfare Costs Of Unemployment Fluctuations Michael Reiter, Institute for Advanced Studies
What Do Data on Millions of U.S. Workers Say About Labor Income Risk? Fatih Guvenen, University of Minnesota; Fatih Karahan; Serdar Ozkan; Jae Song
International Macro Location: 102
Real Exchange Rate Dynamics in Sticky-Price Models with Capital Carlos Carvalho; Fernanda Nechio, FRB of San Francisco
Distribution Capital and the Short- and Long-run Import Demand Elasticity Mario Crucini; Scott Davis, FRB of Dallas
Trade, Unemployment, and Monetary Policy Matteo Cacciatore, HEC Montreal
Global Gains from Reduction of Trade Costs Edwin Lai; Han Qi, Hong Kong University of Science and Technology; Haichao Fan
Labor Supply and Aggregate Fluctuations Location: 112
Hours Worked With and Without Capital Income Jeffrey Campbell; Christine Ostrowski, FRB of Chicago
Coordinated Labor Supply within the Firm: Evidence and Implications Michele Battisti, Ifo Institute at University of Munich; Ryan Michaels
Bargaining with Existing Workers, Over-hiring of Firms, and Labor Market Fluctuations Jiwoon Kim, University of Minnesota
Sorting by Skill over the Course of Job Search Marianna Kudlyak, FRB of Richmond; Damba Lkhagvasuren; Roman Sysuyev
29 SED 2013 | Society for Economic Dynamics
Friday June 28, 15:30 - 17:30
Expectations Location: B121
Wage Dynamics with Private Learning-by-doing and On-the-job Search Seung-Gyu Sim, University of Tokyo
First- and Second-order Subjective Expectations in Strategic Decision-Making: Experimental Evidence Claudia Neri, University of St.Gallen; Charles Manski
Eliciting Maternal Beliefs about the Technology of Skill Formation Flavio Cunha, University of Pennsylvania
Empirical Industrial Organization Location: B106
Signaling in Online Credit Markets Kei Kawai; Ken ONISHI, Northwestern University; Kosuke Uetake
Very Simple Markov-Perfect Industry Dynamics Jaap Abbring; Jeffrey Campbell, FRB of Chicago; Jan Tilly; Nan Yang
Agglomeration Matters for Trade Enrique Moral-Benito, Bank of Spain
Estimating Platform Market Power in Two-Sided Markets with an Application to Magazine Advertising Minjae Song, University of Rochester
Policy making and the Great Recession Location: 201
Household Debt and Foreign Capital Flows Alejandro Justiniano, Federal Reserve Chicago; Giorgio Primiceri; Andrea Tambalotti
Monetary Policy at the Zero Lower Bound: An Endogenous Switching Approach to Forward Guidance Daniel Waggoner, FRB of Atlanta; Tao Zha
Emergency Lending in a Monetary Union Harald Uhlig, University of Chicago
Escaping the Great Recession Francesco Bianchi, Duke University; Leonardo Melosi
30 SED 2013 | Society for Economic Dynamics
Friday June 28, 15:30 - 17:30
International Capital Flows Location: B109
Two-Way Capital Flows and Global Imbalances: A Neoclassical Approach Pengfei Wang; Yi Wen; Zhiwei XU, Hong Kong University of Science and Technology
International Capital Flows, Financial Frictions and Welfare Filippo Taddei, SAIS - The Johns Hopkins University and Collegio Carlo Alberto
Global Imbalances and Structural Change in the United States Timothy Kehoe; Kim Ruhl; Joseph Steinberg, University of Minnesota
Rising Intangible Capital, Shrinking Debt Capacity, and the US Corporate Savings Glut Antonio Falato, Federal Reserve Board; Dalida Kadyrzhanova; Jae Sim
Labor Market Search: Heterogeneity and Aggregate Uncertainty Location: B120
Stochastic Search Equilibrium Giuseppe Moscarini; Fabien Postel-Vinay, University of Bristol
Efficient Firm Dynamics in a Frictional Labor Market Leo Kaas, University of Konstanz; Philipp Kircher
Job, Employment and Occupation Flows over the Business Cycle Carlos Carrillo-Tudela; Lodewijk Visschers, Universidad Carlos III
The Macro-dynamics of Sorting between Workers and Firms Jeremy Lise, University College London; Jean-Marc Robin
Default, Crises, and Financial Intermediation Location: 110
Sovereign Default Risk and Bank Balance Sheets Emine Boz; Pablo D'Erasmo; Bora Durdu, Federal Reserve Board
Sovereign Debt Crises and Financial Contagion: Estimating Effects in an Endogenous Network Brent Glover, Carnegie Mellon University; Seth Richards-Shubik
Financial Intermediation, Sudden Stops and Financial Crises Ozge Akinci; Albert Queralto, Federal Reserve Board
Time-Varying Risk Premia and Capital Flows to Developing Countries Espen Henriksen; Ina Simonovska, University of California Davis
31 SED 2013 | Society for Economic Dynamics
Friday June 28, 15:30 - 17:30
Advances in Public Finance Location: 113
Optimal Taxation and Occupational Choice: The Redistributive Role of Production Inefficiencies Renato Gomes, Toulouse School of Economics; Jean-Marie Lozachmeur; Alessandro Pavan
Social Insurance, Information Revelation, and Lack of Commitment Mikhail Golosov; Luigi Iovino, Bocconi University
Market-based Incentives Borys Grochulski, FRB of Richmond; Yuzhe Zhang
Optimal Taxation of Wealthy Individuals Ali Shourideh, University of Pennsylavnia
Macroeconomics across Time and Space Location: B112
Trends in Hours Worked across Countries: Evidence using Micro Data Alexander Bick, Arizona State University; Bettina Brueggemann; Nicola Fuchs-Schuendeln
Explaining Educational Attainment across Countries and over Time Diego Restuccia, University of Toronto; Guillaume Vandenbroucke
Labor Supply Incentives of Medicaid Svetlana Pashchenko; Ponpoje (Poe) Porapakkarm, University of Macau
Consumption, Income and Wealth of the Very Poor: An Empirical Investigation of Cross- sectional and Lifetime Inequality in Sub-Saharan Africa Leandro De Magalhaes, University of Bristol; Raul Santaeulalia-Llopis
Household Risk Sharing Location: 102
Implications of Labor Market Frictions for Risk Aversion and Risk Premia Eric Swanson, FRB of San Francisco
Risk Aversion Heterogeneity, Risky Jobs and Wealth Inequality Marco Cozzi, Queen's University
Household Income Risk, Nominal Frictions, and Incomplete Markets Christian Bayer, Bonn University; Ralph Lütticke; Lien Pham; Volker Tjaden
Efficient Risk Sharing with Model Uncertainty Anmol Bhandari, New York University
32 SED 2013 | Society for Economic Dynamics
Friday June 28, 15:30 - 17:30
Productivity and Growth Location: 101
Binding Up the Nation's Wounds: An Economic Analysis of the Korean Reunification Sang Yoon (Tim) Lee; Yongseok Shin, Washington University in St. Louis
A Unified Model of Structural Adjustments and International Trade: Theory and Evidence from China Jiandong Ju, Tsinghua University; Vivian Yue
Is the GDP Growth Rate in NIPA a Welfare Measure? Omar Licandro, IAE-CSIC and Barcelona GSE; Jorge Duran
The Role of Allocative Efficiency in A Decade of Recovery Kaiji Chen, Emory University
Macro Finance Location: 112
Means of Payment and Timing of Mergers and Acquisitions in a Dynamic Economy Alexander Gorbenko, London Business School; Andrey Malenko
Who Should Pay for Credit Ratings and How? Anil Kashyap; Natalia Kovrijnykh, Arizona State University
Household Risk Management Adriano Rampini, Duke University; S. Viswanathan
Dynamic Debt Runs and the Market for Variable Rate Demand Obligations Bin Wei, Federal Reserve Board; Vivian Yue
Geography, Risk Sharing, and Income Inequality Location: 115
Contagion and Risk Sharing Antonio Cabrales; Piero Gottardi, European University Institute; Fernando Vega Redondo
The Geography of the Great Recession Alessandra Fogli, University of Minnesota; Enoch Hill; Fabrizio Perri
Macroeconomic Implications of Agglomeration Morris Davis; Jonas Fisher, FRB of Chicago; Toni Whited
Fiscal Policy and Inequality in Economies with Large, Unproductive, Agricultural Sectors Adrian Peralta-Alva, International Monetary Fund and FRB of St. Louis
33 SED 2013 | Society for Economic Dynamics
Friday June 28, 17:45 - 18:45
Hal Cole Plenary Location: B130
Saturday June 29, 09:45 - 11:45
Human Capital and Development Location: B120
Instability, Misallocation and Productivity Rody Manuelli, Washington University in St. Louis; Thomas Sargent
Human Capital and the Urban and Structural Transformation of Countries Alexander Monge-Naranjo, FRB of St. Louis; Alejandro Badel; Pedro Ferreira
The Option Value of Human Capital Sang Yoon (Tim) Lee, University of Mannheim; Yongseok Shin
Refugees and Early Childhood Human Capital Todd Schoellman, Arizona State University
Bubbles and Identification in DSGE models Location: B106
A Bayesian DSGE Model of Stock Market Bubbles and Business Cycles Jianjun Miao; Pengfei Wang, Hong Kong University of Science and Technology; Zhiwei Xu
On the Distribution of Information in the Moment Structure of DSGE Models Nikolay Iskrev, Bank of Portugal
On the Identification of Financial and Uncertainty Shocks Dario Caldara, Federal Reserve Board of Governors; Cristina Fuentes Albero; Simon Gilchrist; Egon Zakrajsek
Stock Market Bubbles and Unemployment Jianjun Miao; Pengfei Wang; Lifang Xu, The Hong Kong University of Science and Technology
34 SED 2013 | Society for Economic Dynamics
Saturday June 29, 09:45 - 11:45
Networks in Macroeconomics Location: 201
Business Networks, Production Chains, and Productivity: A Theory of Input-Output Architecture Ezra Oberfield, FRB of Chicago
Interaction-based Foundation of Aggregate Investment Shocks Makoto Nirei, Hitotsubashi University
Financial Frictions in Production Networks Saki Bigio, Columbia Business School
The Rise of General Purpose Technologies Vasco Carvalho, CREI and Universitad Pompeu Fabra; Nico Voigtlaender
Money, Liquidity, and Trading in OTC Markets Location: 115
On the Stability of Money Demand Juan Nicolini, FRB of Minneapolis
A Model of Monetary Exchange in Over-the-Counter Markets Ricardo Lagos; Shengxing Zhang, New York University
Trading and Information Diffusion in Over-the-Counter Markets Ana Babus, Imperial College London; Peter Kondor
Dealers' Insurance, Market Structure And Liquidity Francesca Carapella, Federal Reserve Board; Cyril Monnet
Dynamic Taxation and Insurance Location: B112
Dynamic Tax Reforms Mikhail Golosov; Aleh Tsyvinski; Nicolas Werquin, Yale University
Welfare Programs and Motivation Bias of Social Workers Pierre Boyer; Jean-Marie Lozachmeur, Toulouse School of Economics
Taxes, Wedges and Aggregate Uncertainty: A Mirrleesian Approach. Carlos da Costa, Fundação Getulio Vargas
Optimal Capital Taxation for Time-nonseparable Preferences Sebastian Koehne, Stockholm University; Moritz Kuhn
35 SED 2013 | Society for Economic Dynamics
Saturday June 29, 09:45 - 11:45
Entry Costs, Firm Sizes, and Development Location: B109
Foreign Firms, Distribution of Income, and the Welfare of Developing Countries Manuel García-Santana, ECARES
Entry Costs Rise with Development Albert Bollard; Peter Klenow; Huiyu Li, Stanford University
Capital Account Openness and the Losses from Financial Frictions Minsoo Han, Pennsylvania State University
The Role of Establishment Heterogeneity in the Recovery from Sudden Stops Horag Choi, Monash University
Search Theory Location: 110
Efficient Entry in Competitive Search with Nonrival Meetings and Asymmetric Information James Albrecht, Georgetown University
Mixed Search Anna Godøy, The Ragnar Frisch Centre for Economic Research; Espen Moen
Bidding for Teams Benoit Julien; John Kennes; Moritz Ritter, Temple University
Stochastic Sorting Hector Chade, Arizona State University
Uncertainty and Fluctuations Location: 101
Modeling the Evolution of Expectations and Uncertainty in General Equilibrium Leonardo Melosi, FRB of Chicago
Entrepreneurial Tail Risk: Implications for Employment Dynamics Thorsten Drautzburg, University of Chicago
Uncertainty and Investment Options Nancy Stokey, University of Chicago
Uncertainty Shocks Are Aggregate Demand Shocks Sylvain Leduc; Zheng Liu, FRB of San Francisco
36 SED 2013 | Society for Economic Dynamics
Saturday June 29, 09:45 - 11:45
Government Spending Location: B121
Fiscal Reform and Government Debt in Japan: A Neoclassical Perspective Gary Hansen, UCLA; Selahattin Imrohoroglu
On the Optimal Size of Public Employment Anna Dos Reis; Eduardo Zilberman, PUC-Rio
Are Government Spending Multipliers State Dependent? Evidence from U.S. and Canadian Historical Data Michael Owyang; Valerie Ramey, University of California San Diego; Sarah Zubairy
Deficits, Gifts, and Bequests Daniel Barczyk, McGill University
Inequality and Intergenerational Mobility Location: 113
Accounting for the Trends in Inequality and Intergenerational Mobility in the U.S. Marina Mendes Tavares, ITAM; Carlos Urrutia
The Inheritance of Advantage Jose Rodriguez Mora, University of Edinburgh
Public Education Financing Systems, Earnings Inequality, and Intergenerational Mobility Christopher Herrington, Arizona State University
It's Not Me, It's You: Social Skills and Human Capital in the Labor and Marriage Markets Gueorgui Kambourov; Aloysius Siow; Laura Turner, University of Toronto
Longevity, Fertility, and Health Location: 102
The Longevity of Famous People from Hammurabi to Einstein David de la Croix, Université Catholique de Louvain; Omar Licandro
Does Longevity Improvement Always Raise the Length of Schooling through the Longer- horizon Mechanism? Sau-Him Lau, University of Hong Kong
Female Employment and Fertility: The Effects of Rising Female Wages Christian Siegel, University of Exeter
Cross-subsidization in Employer-based Health Insurance and the Effects of Tax Subsidy Reform Svetlana Pashchenko, Uppsala University; Ponpoje (Poe) Porapakkarm
37 SED 2013 | Society for Economic Dynamics
Saturday June 29, 09:45 - 11:45
Household Insurance and Credit Location: 112
Does the Social Safety Net Improve Welfare?: A Dynamic General Equilibrium Analysis Kai (Jackie) Zhao, University of Western Ontario
Health Insurance over the Life Cycle with Adverse Selection Martin Dumav, Institut für Mathematische Wirtschaftsforschung
Tax Avoidance, Welfare Transfers, and Asset Prices Denis Gorea, Goethe University Frankfurt
A Quantitative Theory of Credit Scoring Kartik Athreya, FRB of Richmond; Xuan Tam; Eric Young
38 SED 2013 | Society for Economic Dynamics
Saturday June 29, 13:00 - 15:00
Sovereign Debt Location: 201
Secondary Markets in Turbulent Times Alberto Martin, CREI and Universitat Pompeu Fabra
Optimal Domestic Sovereign Default Enrique Mendoza, University of Pennsylvania
Evaluating the Welfare Effects of International Bankruptcy Regimes in a Political Economy Model Satyajit Chatterjee, FRB of Philadelphia; Burcu Eyigungor
Sovereign Risk and Financial Risk Simon Gilchrist; Vivian Yue, Federal Reserve Board of Governors; Egon Zakrajsek
Search in the Housing Market Location: B120
Housing and Liquidity Chao He, Renmin University of China; Randall Wright; Yu Zhu
Search, Liquidity and the Dynamics of House Prices and Construction Allen Head, Queen's University; Huw Lloyd-Ellis; Hongfei Sun
Trading Places Monika Piazzesi, Stanford University
Learning from Search in the Housing Market Leena Rudanko, Boston University; Irina Telyukova
Family Macro Location: B106
Jobless Recoveries and Gender Biased Technological Change Stefania Albanesi, FRB of New York; Aysegul Sahin
Female Migration, Human Capital and Fertility Vincenzo Caponi, Ryerson University
An Equilibrium Model of the African HIV/AIDS Epidemic Jeremy Greenwood; Philipp Kircher; Cezar Santos, University of Mannheim; Michele Tertilt
39 SED 2013 | Society for Economic Dynamics
Saturday June 29, 13:00 - 15:00
The Service Sector across Time and Countries Location: 115
Home Work and Market Work in the US and Continental Europe Georg Duernecker, University of Mannheim; Berthold Herrendorf
Quantifying the Growth in Services: the Role of Skills, Scale, and Female Labor Supply Francisco Buera; Joseph Kaboski; Min Qiang (Kent) Zhao, Xiamen University
The Service Sector and Female Market Work: Europe vs the US Michelle Rendall, University of Zurich
Services, Skill and Labor Supply: A Cross-Country Perspective Francisco Buera; Joseph Kaboski, University of Notre Dame; Richard Rogerson
Tax Distortions and Political Economy Location: B109
Will a Decline in the Corporate Income Tax Rate Generate Jobs? Daphne Chen, Florida State University; Shi Qi; Don Schlagenhauf
Fiscal Policy Coordination in Monetary Unions Josef Schroth, Bank of Canada
Sand in the Wheels of Capitalism, On the Political Economy of Capital Market Frictions Mario Bersem, Copenhagen Business School; Enrico Perotti; Ernst-Ludwig von Thadden
Political Turnover, Dynamic Separation of Power and Efficiency Facundo Piguillem, Einaudi Institute for Economics and Finance; Alessandro Riboni
Information Frictions: Theory and Evidence Location: B112
Marginal Tax Rates and Reported Incomes: New Time Series Evidence Karel Mertens, Cornell University
Attention Discrimination: Theory and Field Experiments Filip Matejka, CERGE-EI
Public Information in Populations with Heterogenous Interests Kristoffer Nimark, Universitat Pompeu Fabra
Information Processing and Limited Liability Bartosz Mackowiak; Mirko Wiederholt, Goethe University Frankfurt
40 SED 2013 | Society for Economic Dynamics
Saturday June 29, 13:00 - 15:00
Global Production Location: 101
The Perfect Match: Assortative Matching in International Acquisitions Maria Guadalupe; Veronica Rappoport, London School of Economics; Bernard Salanie; Catherine Thomas
Global Production with Export Platforms Felix Tintelnot, The Pennsylvania State University
Global Welfare Impact of China: Trade Integration and Technology Change Jing Zhang, University of Michigan
Measuring Horizontal and Vertical Foreign Direct Investment Natalia Ramondo; Veronica Rappoport; Kim Ruhl, New York University Stern School of Business
Barriers to Reallocation Location: B121
Delayed Capital Reallocation Wei Cui, Princeton University
On the Measure of Distortions Hugo A. Hopenhayn, UCLA
The Market for Used Capital: Endogenous Irreversibility and Reallocation over the Business Cycle Andrea Lanteri, London School of Economics
Monetary Policy and Welfare Location: 110
Optimal Monetary Policy in an Open Economy under Asset Market Segmentation Rajesh Singh, Iowa State University
Search-Based Endogenous Illiquidity, Business Cycles and Monetary Policy Wei Cui; Soeren Radde, German Institute for Economic Research
Demand for Liquidity and Welfare Cost of Inflation by Cohort and Age of Households Shutao Cao; Césaire Meh; Jose-Victor Rios-Rull; Yaz Terajima, Bank of Canada
Monetary Policy in Private Money Economies David Andolfatto; Aleksander Berentsen; Christopher Waller, University of Notre Dame
41 SED 2013 | Society for Economic Dynamics
Saturday June 29, 13:00 - 15:00
Labor and Finance Location: 113
On the Composition Effects on the Labor Market Outcomes Javier Fernandez-Blanco, University Carlos III of Madrid; Pedro Gomes
Unemployment Risk and the Distribution of Assets Jan Eeckhout, University College London and GSE-UPF
Labor and Finance: Mortensen and Pissarides Meet Holmstrom and Tirole Pietro Garibaldi, University of Torino and Collegio Carlo Alberto
Can Employer Credit Checks Create Poverty Traps? Daphne Chen; Dean Corbae; Andrew Glover, University of Texas at Austin
Output, Inflation, and International Macroeconomic Dynamics Location: 102
The Inflation Output Trade-Off Revisited Gauti Eggertsson; Marc Giannoni, FRB of New York
Okun’s Macroscope: Changes in the Cyclical Behavior of Productivity and the Comovement between Output and Unemployment Mary Daly; John Fernald, FRB of San Francisco; Oscar Jorda; Fernanda Nechio
Labor Market Polarization and International Macroeconomic Dynamics Federico Mandelman, FRB of Atlanta
Investment-Specific Technology Shocks and Recursive Preferences Hakon Tretvoll, BI Norwegian Business School
Global and Repeated Games Location: 112
Limits to Reputations Nuh Dalkiran, Bilkent University; Mehmet Ekmekci
Strongly Symmetric Equilibria in Bandit Games Johannes Horner; Nicolas Klein, University of Montreal; Sven Rady
Avoidance and Mitigation of Public Harm Ruilin Zhou; Bruno Salcedo; Bruno Sultanum, The Pennsylvania State University
The Power of Whispers: A Theory of Rumor, Communication and Revolution Heng Chen, University of Hong Kong; Yang Lu; Wing Suen
42 SED 2013 | Society for Economic Dynamics
Saturday June 29, 15:30-17:30
Parameter Instability in DSGE Models Location: B106
How Credible is the Federal Reserve?: A Structural Estimation of Policy Re-optimizations Davide Debortoli; Aeimit Lakdawala, Michigan State University
Monetary Policy Regime Switches and Macroeconomic Dynamics Andrew Foerster, FRB of Kansas City
Inflation Dynamics: The Role of Public Debt and Policy Regimes Saroj Bhattarai; Jae Won Lee; Woong Yong Park, University of Hong Kong
State-Dependent Probability Distributions in Non Linear Rational Expectations Models Jean Barthelemy, Banque de France; Magali Marx
Financial Frictions and Field Experiments in General Equilibrium Location: 115
Structural Experimentation to Distinguish between Models of Risk Sharing with Frictions Ethan Ligon, University of California Berkeley; Laura Schechter
Understanding Peer Effects in Financial Decisions: Evidence from a Field Experiment Leonardo Bursztyn; Florian Ederer, UCLA; Bruno Ferman; Noam Yuchtman
How Does Risk Management Influence Production Decisions? Evidence From a Field Experiment Shawn Cole; Xavier Gine; James Vickery, FRB of New York
Welfare Losses from Financial Frictions: The Role of Fixed Costs Ahrang Lee, The Bank of Korea
International Macro-Finance Location: B121
The U.S. Dollar Safety Premium Matteo Maggiori, New York University
Differences of Opinion and International Equity Markets Bernard Dumas, INSEAD; Karen Lewis; Emilio Osambela
Inflation Risk and Sovereign Spreads Sewon Hur; University of Pittsburgh; Illenin Kondo; Fabrizio Perri
BKK the EZ way. An International Production Economy with Recursive Preferences. Riccardo Colacito, University of North Carolina Chapel Hil; Mariano Croce; Steven Ho; Philip Howard
43 SED 2013 | Society for Economic Dynamics
Saturday June 29, 15:30-17:30
Monetary Policy and the Zero Bound on Interest Rates Location: B109
Structural Reforms in a Monetary Union: The Role of the ZLB Gauti Eggertsson; Andrea Ferrero; Andrea Raffo, Board of Governors of the Federal Reserve
The Shadow Rate, Taylor Rules, and Monetary Policy Lift-off Michael Bauer, FRB of San Francisco; Glenn Rudebusch
Credit Spreads and the Zero Bound on Interest Rates Isabel Correia; Fiorella De Fiore, European Central Bank; Pedro Teles; Oreste Tristani
Uncertainty at the Zero Lower Bound Taisuke Nakata, Federal Reserve Board
Risk and Portfolio Choice Location: 112
Life Cycle Uncertainty and Portfolio Choice Puzzles Marios Karabarbounis, FRB of Richmond; Yongsung Chang; Jay Hong
Limited Stock Market Participation among Renters and Home Owners Roine Vestman, Stockholm University and SIFR
Market Preferences for Risk Distributions: Evidence from Lottery Loans Francois Velde, FRB of Chicago
Liquidity and Welfare Yi Wen, FRB of St. Louis
Unemployment, Product Markets and Search Location: B112
A Theory of Targeted Search Anton Cheremukhin; Paulina Restrepo-Echavarria, The Ohio State University; Antonella Tutino
Wage Dynamics in Long-term Contracts Moritz Kuhn, University of Bonn; Philip Jung
Viewing Job-Seekers' Reservation Wages and Acceptance Decisions through the Lens of Search Theory Robert Hall; Andreas Mueller, Columbia University
Five Facts about Price Dispersion Greg Kaplan, Princeton University; Guido Menzio
44 SED 2013 | Society for Economic Dynamics
Saturday June 29, 15:30-17:30
Uncertainty, Expectations and Business Cycles Location: B120
Understanding Uncertainty Shocks Anna Orlik, Federal Reserve Board of Governors; Laura Veldkamp
Firms' Optimism and Pessimism Ruediger Bachmann, RWTH Aachen University; Steffen Elstner
Robust Animal Spirits Rhys Bidder, FRB of San Francisco; Matthew Smith
Uncertainty Traps Pablo Fajgelbaum; Edouard Schaal, New York University; Mathieu Taschereau-Dumouchel
Trade and Development Location: 201
Internal Geography, International Trade, and Regional Outcomes A. Kerem Cosar, University of Chicago; Pablo Fajgelbaum
Competition, Markups, and the Gains from International Trade Daniel Yi Xu, Duke University
International Trade and Inequality with Multiple Types of Labor and Capital Ariel Burstein, UCLA
Grasp the Large, Let Go of the Small: The Transformation of the State Sector in China Chang-Tai Hsieh; Zheng Song, Booth School of Business
Sovereign Default, Savings and Capital Flows Location: 101
Explaining World Savings Colin Caines; Amartya Lahiri, University of British Columbia
The Size of the Precautionary Component of Household Saving: China and the U.S. Horag Choi; Steven Lugauer; Nelson Mark, University of Notre Dame
Credibility for Sale Harris Dellas; Dirk Niepelt, Gerzensee/Univ. of Bern/ IIES/ Stockholm Univ.
Migration and The Welfare State: Political-Economy Perspective on Tax Competition Assaf Razin, Cornell University and Tel Aviv University
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Saturday June 29, 15:30-17:30
Human Capital and Technical Change Location: 110
Age Earnings Profiles and TFP Differences: Financial Institutions in a Vintage Human Capital Model Yong Kim, Yonsei University
The Composition of Knowledge and Economic Growth in a Path-Dependent World Jie Cai; Nan Li, International Monetary Fund
Occupational Choice, Human Capital, and Financing Constraints Rui Castro; Pavel Sevcik, Ecole des Sciences de Gestion, Universite du Quebec a Montreal (ESG UQAM)
Non-homothetic Preferences and Industry Directed Technical Change Timo Boppart; Franziska Weiss, University of Zurich
Wage Inequality II Location: 113
Worker Betas Fatih Guvenen; Serdar Ozkan, Federal Reserve Board; Sam Schulhofer-Wohl; Jae Song
Earnings Losses and Labor Mobility over the Lifecycle Philip Jung, University of Bonn
On the Time-varying Substitutability between Skilled and Unskilled Workers and the Rise of Wage Inequality in the U.S. 1960-2010 Jay Hong; Raul Santaeulalia-Llopis, Washington University in St. Louis
Comparative Advantage and Risk Premia in Labor Markets GERMAN CUBAS, Central Bank of Uruguay; Pedro Silos
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Saturday June 29, 15:30-17:30
Solution Methods Location: 102
Applying Negishi's Method to Stochastic Models with Overlapping Generations Johannes Brumm, University of Zurich; Felix Kubler
Estimation of Non-linear DSGE Models Made Easy: Taking Second-order Model Approximations to the Data (with an Application to a DSGE Model with a Banking Sector) Robert Kollmann, ECARES and Université Libre de Bruxelles
Global Dynamics at the Zero Lower Bound William Gavin, FRB of St. Louis; Benjamin Keen; Alexander Richter; Nathaniel Throckmorton
International Portfolios: A Comparison of Solution Methods Katrin Rabitsch; Serhiy Stepanchuk, University of Pennsylvania; Serhiy Stepanchuk
Saturday June 29, 17:45 - 18:45
Gianluca Violante Plenary Location: B130
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MEMO
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Local Information
Conference Venue Yonsei University, College of Business and Economics (Daewoo Hall) Tel. +82-2-2123-2452~5 Detailed maps of the conference venues in Yonsei University are located on pages 53 and 54.
Reception Wednesday June 26, Lotte Hotel 3rd floor, Sapphire room.
Registration Registration starts on Wednesday June 26 from 18:00 until 20:00 at Lotte Hotel, Sapphire room during the reception. Registration opens from 9AM to 3PM during the conference period. For local information, please use the registration desk or ask a member of our staff who will be wearing black shirts with the SED 2013 logo.
Name Badge Your name badge is your security pass for entrance into the conference venues. We request all conference participants to wear their name badge at all times. Your badge will be checked at lunch and coffee. Separate tickets, received upon registration, are needed for admission to the social events.
Presentations All presentations will be made by using data projectors. Please bring a USB key containing your presentation in PDF or Powerpoint format. The staff will help you with loading the presentation onto the computers.
Internet Access Access to computers and printers is available at room B104. ID: sed2013 PW: seoul (lowercase) Wireless internet is available at Yonsei. ID: yonsei_open (no password necessary)
Lunch and Coffee Lunch can be picked-up at lounge 2. There will be tables outside (in front of and behind the 1st floor) of the building where you can enjoy your lunch. Also, you can freely use the session rooms if you prefer eating inside. Lunch menus: Bibimbap or a Sandwich of your choice (BLT or Mushroom). Coffee and snacks are available at lounge 1 for your convenience all day. (on map pg 53)
Tourist Information Tourist information is available online at http://www.visitkorea.or.kr Also, official Seoul tour books are available at the information desk upon request.
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Social Events
Upon registration, you will receive tickets for the social events that you have registered for. You will be asked for these tickets at the entrance.
Wednesday, June 26, 18:30 - 20:30 Welcome Reception at Lotte Hotel Sapphire Hall 30, Eulji-Ro, Jung-Gu, Seoul, Korea 100-721
Friday, June 28, 20:00 - 22:00 Conference Dinner at Lotte Hotel Crystal Room 30, Eulji-Ro, Jung-Gu, Seoul, Korea 100-721
Saturday, June 29, 19:00 - 21:00 BBQ and Beer Party at Yonsei University President's House (3 min walk from the Main Conference Site, College of Business and Economics)
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Shuttle Bus Plan
During the conference period, we will operate shuttle buses between Lotte Hotel and Yonsei University. Below is the timetable for the shuttle bus service.
Schedule
Departure Time
From Lotte Hotel From Yonsei University To Yonsei University To Lotte Hotel 08:45 09:30 10:30 11:30 12:00 12:30 13:00 13:30 14:00 14:30 15:00 15:30 16:00 16:30 17:00 18:00 19:00
Additional bus service will be provided on the 28th and the 29th for the convenience of conference dinner and BBQ & Beer Party participants.
·On the 28th, a shuttle bus will depart from Lotte Hotel at 22:00 and head to Shinchon. ·On the 29th, a shuttle bus will run from Lotte Hotel at 18:30 to Yonsei University, and the retuning bus to the hotel will leave Yonsei at 21:00.
We expect the travel time to be approximately 20 minutes from the hotel to the conference site, and vice versa. However, it might take additional time during the rush hour.
Bus Stops
·Yonsei: See page 53. The bus stop is located right behind the building on the first floor. ·Lotte Hotel: You will see a sign and our staff when you walk out of the lobby.
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Other Transportation
This page is prepared to help you getting to/from the conference site if you have conflicts with the shuttle bus schedule or if you wish to come from or go to places other than Lotte Hotel.
To the Conference Site from Lotte Hotel or Other City Center Area Ask the driver to go to ‘Yonsei dae-hak-gyo, Daewoo-gwan’ or show him this message with directions.
“연세대학교 대우관으로 가주세요. 금화터널을 지나자마자 우측 도로로 빠져서 동문으로 진입 후 처음 나오는 사거리에서 우회전, 그 후에 나오는 삼거리에서 다시 우회전 해주세요. 조금 올라오시다 보면 좌회전해서 내려오실 수 있습니다. 쭉 내려와서 주차장 입구에 세워주시면 됩니다. 감사합니다.”
Fares should be around 7,000 won (Regular taxi) or around 13,000 won (Deluxe taxi).
To Lotte Hotel or Other Destination of Your Interest from the Conference Site or Elsewhere Tell the driver ‘[Name of destination] ga-joo-se-yo.’ For example, to go to Lotte Hotel, say ‘Lotte Hotel ga-joo-se-yo.’, which means ‘please go to Lotte Hotel.’
Please do not hesitate to ask our staffs if you have a question regarding transportation. We will be happy to help you.
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Conference Site Map
1st Basement Floor
·Information Desk - Registration - Information ·Lounge 1 -Coffee and Snacks ·Lounge 2 - Lunch Box Pick-up ·Computer Lab - Computers & Printers - Wired Internet
1st Floor
·Shuttle Bus Stop - To/From Lotte Hotel
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2nd Floor
6th Floor
·Room 607 -Reserved for Business Meeting
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Restaurants & Nightlife For detailed description of our selection, please refer to our local site: https://sites.google.com/site/sedseoul2013/travel-guide/entertainment-and-restaurants.
1. Restaurants Seoul is a huge city and has numerous good restaurants. We have selected three areas that you will be likely to stay at or pass by frequently. They are 1) Myeong-dong, where hotels including Lotte are located at, 2) Samcheong-dong, a unique neighborhood near Gyeongbokgung Palace, and 3) Insa-dong, which is one of the most visited places among foreign travelers.
1) Myeong-dong (See Map 1 on page 60) Myeong-dong is one of the most dynamic and exciting areas in Seoul with the floating population estimated to be around 2 million a day. Being a mecca of shopping, finance and culture, there are many hotels, cinemas, cafes and of course, great restaurants where you can taste gourmet Korean cuisines at reasonable prices. You can also find a lot of international restaurant chains on the main street of Myeong-dong. ① Hanil Kwan (http://www.hanilkwan.co.kr) Price: 10,000 – 45,000 won per person Location: B1, Ferum Tower, 66, Suha-dong, Jung-gu, Seoul (+82-2-1577-9963) Open: 11:00-22:00 Menu: Bansang (Soup and rice special), Grilled short ribs, Galbitang, Seafood pancake ② Yongsusan (http://www.yongsusan.co.kr) Price: 50,000 – 150,000 won (for a course menu), 12000 – 55000 won (for a la carte) per person Location: B1, Seoul Finance Center building, 71-84, Taepyeongno 1(il)-ga, Jung-gu, Seoul (+82-2-771-5553) Open: 11:30-15:00, 18:00-22:00 Menu: Korean beef of tender short-rib patties, Steamed fresh abalone, Beef cooked in a Dragon firepot. ③ Dalgaebi (http://dalgaebi.co.kr) Price: 45,000 – 110,000 won (for a course menu) per person Location: 3-7, Jeong-dong, Jung-gu, Seoul (+82-2-765-2035) Open: 12:00-14:00, 18:00-22:00 Menu: Couse including Daenamu-tongbap (rice steamed in bamboo), Salad and Grilled short ribs ④ Gogoong Price: 11,000 – 20,000 won per person Location: 2F, Woori bank building, 11-1, Chungmuro 2(i)-ga, Jung-gu, Seoul ( +82-2-776-3211) Open: 11:00-22:00 Menu: Jeongju traditional bibimbap, Bibimbap in a Hot Stone Pot ⑤ Jeonjoo Jungang Restaurant (http://www.jeonjoo.co.kr) Price: 10,000 – 20,000 won per person Location: 24-11, Chungmuro 1(il)-ga Jung-gu, Seoul (+82-2-776-3525) Open: 8:30-22:30 Menu: Jeonju bibimbap in a hot stone pot, Samgyetang (Chicken soup with ginseng)
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⑥ Nampo Myeonok Price: 10,000 – 15,000 won per person Location: 125, Da-dong, Jung-gu, Seoul (+82-2-777-3131) Open: 11:30-22:00 Menu: Naengmyeon (Cold buckwheat noodles), Galbi Tang (Beef rib soup), Mandutguk (Dumpling soup) ⑦ Hadongkwan Price: 10,000 – 20,000 won per person Location: 10-4, Myeong-dong1(il)-ga, Jung-gu, Seoul (+82-2-776-5656) Open: 07:00-16:30 Menu: Gomtang(beef-broth soup), Suyuk (Boiled Beef or Pork Slices) ⑧ Baek Jae Samgyetang Price: 10,000 – 20,000 won per person Location: 50-11, Myeongdong 2(i)-ga Jung-gu, Seoul (+82-2-776-3267) Open: 09:00-22:00 Menu: Samgyetang (Chicken soup with ginseng), Jeonbokjuk (Rice porridge with abalone) ⑨ Hanmiri Price: 33,000 – 120,000 won (for a course menu) per person Location: 2F, Premier Place Building, 96, Mugyo-dong, Jung-gu, Seoul (+82-2-757-5707~8) Open: 11:00-15:00, 17:30-22:00 Menu: Course including grilled beef and steamed king prawn, Course including seasonal seafood cuisine ⑩ Da-dong Traditional Food Street Price: 5,000 – 20,000 won per person Location: Namdaemun-ro 9-gil, Seoul Description: Famous for various local food restaurants located on it. (Nampo Myeonok is one of the restaurants located on it.) Here are some well-known stores on the street. Selected restaurants: * Taesung Golbang-i: serving Golbang-i(gastropods), +82-2-779-0595 * O-neun Joung: serving Korean rib, +82-2-756-1658 * Yonggum Ok: serving Chu-tang(loach soup), +82-2-777-1689 ⑪ O'sulloc Price: 5,000 – 10,000 won per person Location: 47-1, Myeong-dong1(il)-ga, Jung-gu, Seoul (+82-2-774-5460) Open: 9:00-22:30 Menu: Master's Tea 'Sejac', Green Tea Latte, Freddo Green Tea, Jeju Tangerine Milk Tea ⑫ Vecchia E Nuovo (http://www.echosunhotel.com/seoul.action) Price: 30,000 – 55,000 won per person Location: B1F, Westin Chosun hotel, 87, Sogong-dong, Jung-gu, Seoul (+82-2-317-0022) Open: 11:30-22:00 Menu: Breads, Cakes, Tarts, coffees ⑬ Andrea (http://www.andrea.co.kr) Price: 30,000 – 70,000 won per person Location: 9F, Lotte Department Store Avenuel, 130, Namdaemunno2(i)-ga, Jung-gu, Seoul (+82- 2-2118-6211)
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Open: 11:30-22:00 Menu: Pasta, Risotto, Grilled beef ⑭ Luii (http://www.luii.co.kr) Price: 20,000 – 70,000 won per person Location: 61-21, Taepyeongno 1(il)-ga, Jung-gu, Seoul (+82-2-736-8889) Open: 11:30-14:30, 17:30-21:30 Menu: Chinese noodle soup, Fried oysters, crispy sweet and sour pork ⑮ Dintaifung (http://www.dintaifung.co.kr/) Price: 20,000 – 40,000 won per person Location: 104, Myeongdong 2(i)-ga, Jung-gu, Seoul Open: 11:00-21:15 Menu: Chinese Dumpling, Chinese noodle soup
2) Samcheong-dong (See Map 2 on pag 60) Samcheong-dong is one of the most unique places in Seoul. Gyeongbokgung Palace (the home of royalty during the Joseon Dynasty) lies to its left and Changdeokgung Palace (a secondary palace during the Joseon Dynasty) to its right, and it is home to distinctive cafés, shops, and galleries. Samcheong-dong radiates serenity, comfort and character not readily seen in other places crowded with giant shopping malls. ① Baedongbaji Price: 20,000 – 40,000 won per person Location: 158-24, Samcheong-dong, Jongno-gu, Seoul (+82-2-720-9644) Open: 11:00-22:00 Menu: Course Menu including boiled beef with Kimchi, Bulgogi and rice in a hot stone pot ② Hwangsaengga Kalguksu Price: 10,000 – 40,000 won per person Location: 84, Sogyeok-dong, Jongno-gu, Seoul (+82-2-739-6334) Open: 11:00-21:30 Menu: Sagol Son Kalguksu (hand-rolled noodles in beef broth), Wang mandoo (king-sized dumpling) ③ Bukmakgul (http://www.7300980.com/) Price: 10,000 – 40,000 won per person Location: 30-2, Samcheong-dong, Jongno-gu, Seoul (+82-2-730-0980) Open: 11:00-21:30 Menu: Korean rip, Dumpling soup, Grilled dudeok (vegetable similar to ginseng) ④ Danpungnamujip (http://www.mapletreehouse.co.kr/) Price: 10,000 – 40,000 won per person Location: 31-1, Samcheong-dong, Jongno-gu, Seoul (+82-2-730-7461) Open: 11:00-21:30 Menu: Korean beef sirloin, Bulgogi, Korean pork belly, Beef rib soup ⑤ Soseonjae Price: 10,000 – 30,000 won per person Location: 113-3, Samcheong-dong, Jongno-gu, Seoul (+82-2-730-7002) Open: 11:00-15:30, 17:30-21:30 Menu: Course menu including Korean herb salads and tofu (bean curd)
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⑥ Dalhangari (http://blog.naver.com/dlahangari_) Price: 10,000 – 30,000 won per person Location: 95-1, Samcheong-dong, Jongno-gu, Seoul (+82-2-733-7902) Open: 11:30-22:00 Menu: Doenjang (bean paste) soup, Bulgogi, Small octopus ⑦ Cha Mashineun Teul Price: 10,000 – 20,000 won per person Location: 35-169, Samcheong-dong, Jongno-gu, Seoul (+82-2-722-7006) Open: 11:00-22:30 Menu: Korean green tea, Korean rice cake ⑧ Jaha Sonmandoo (http://www.sonmandoo.com/htm/buam_index.htm) Price: 10,000 – 40,000 won per person Location: 245-2, Buam-dong, Jongno-gu, Seoul (+82-2-379-2648) Open: 11:00-21:30 Menu: Hand-made dumpling soup and hot pot ⑨ Tosokchon Price: 20,000 – 40,000 won per person Location: 85-1, Chebu-dong, Jongno-gu, Seoul (+82-2-737-7444) Open: 10:00-22:00 Menu: Samgyetang (Chicken soup with ginseng), Roasted chicken ⑩ Samcheonggak (http://www.samcheonggak.or.kr/) Price: 50,000 – 130,000 won per person Location: 330-115, Seongbuk-dong, Seongbuk-gu, Seoul (+82-2-765-3700) Open: 12:00-15:00, 18:00-22:00 Menu: Course menu including grilled beef and Bulgogi
3) Insa-dong (See Map 3 on page 61) Insa-dong, located in the heart of the city, is an important place where old but precious and traditional goods are on display. There is one main road in Insa-dong with alleys on each side. Within these alleys are galleries, traditional restaurants, traditional teahouses, and cafes. ① Jihwaja (http://eng.jihwajafood.co.kr/) Price: 45,000 – 180,000 won per person Location: 1F, SK Hub Plaza, 89-4, Gyeongun-dong, Jongno-gu, Seoul (+82-2-2269-5834) Open: 11:30-15:00, 17:30-21:00 Menu: Daejanggeum Special Course, Beef Ribs Course, Seasonal Course ② Gaesung Mandoo ‘Goong’ Price: 10,000 – 30,000 won per person Location: 30-11, Gwanhun-dong Jongno-gu, Seoul (+82-2-733-9240) Open: 11:30-21:30 Menu: Mandu jeongol (Dumpling casserole), Mandutguk (Dumpling soup), Dwaeji Bossam (Pork with vegetable wraps) ③ Min’s Club (http://www.minsclub.co.kr/min/index.html) Price: 30,000 – 85,000 won per person (for a course menu) Location: 66-7, Gyeongun-dong, Jongno-gu, Seoul (+82-2-733-2966) Open: 12:00-14:30, 18:00-21:30
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Menu: Courses including Nobiani (Marinated grilled sliced beef strip loin) or Bibimbab ④ Bärlin (http://baerlin.co.kr) Price: 20,000 – 90,000 won per person Location: 1F, Somerset Palace Hotel, 85, Susong-dong, Jongno-gu, Seoul (+82-2-722-5623) Open:11:30-23:30 Menu: German sausage, Smoked pork, Draft beer, Wine ⑤ The Kitchen Salvatore & Bar (http://www.kitchensalvatore.kr/restaurant/restaurant2.jsp) Price: 20,000 – 90,000 won per person Location: 1F, Somerset Palace Hotel, 85, Susong-dong, Jongno-gu, Seoul (+82-2-730-5545) Open: 11:30-01:00 Menu: Napoli style food (pizza, pasta, etc.), Draft beer, Wine
2. Pubs & Clubs (See Map 4 on page 61) We have selected a few pubs, clubs, and bars mainly in Itaewon area, which is considered to be an international borough beckoning travelers and foreign residents to its shopping, restaurants, and vibrant nightlife. It takes approximately 15 minutes to get to the area on taxi from the city center. ① J.J. Mahoney’s http://www.seoul.grand.hyattrestaurants.kr/jjmahoneys/location-ko.html) Location: GL floor, Grand Hyatt Hotel, SoWall-Rho332, Yong-San Gu, Seoul (+82-2-799-8601) Open: 18:00-02:00 Description: Bar, pleasant, live band available ② Prost Location:1F, 116-1 Itaewon-dong, Yongsan-gu, Seoul (+82-2-796-6854) Description: Irish Pub, crowded, upscale Glam Location: 2F, 116-1 Itaewon-dong, Yongsan-gu, Seoul (+82-2-796-6853)- Description: Lounge & Club, crowded, upscale ③ 3 Alley Pub (http://www.3alleypub.com/) Location:116-15, Itaewon-dong, Yongsan-gu, Seoul (+82-2-749-3336) Description: Pub, billiards & dart available, crowded, casual and lively (Please check official site for exact location information. Location information in Google Map is wrong.) ④ Gecko's Terrace Location: 2F, IBK building, 128-5 Itaewon 1(il)-dong Yongsan-gu, Seoul (+82-2-749-9425) Description: Pub, crowded, casual and lively ⑤ Pierre’s Bar (in Lotte Hotel) Location: NewWing 35F, Lotte Hotel, 1 Sogong-dong, Jung-gu, Seoul (+82-2-317-7183) Description: Crowded even in weekdays, DJ available, pleasant ⑥ NuLook +(plus) Location: 38-1, Myeongdong 1(il)-ga Jung-gu, Seoul (+82-2-772-9555) Description: Korean traditional alcohol (Makgeolli) and traditional foods
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Map 1 Myeong-dong
Map 2 Samcheong-dong
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Map 3 Insa-dong
Map 4 Itaewon
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List of Participants
Last Institution Email Page Ábrahám, Árpád European Univ. Institute [email protected] 14, 29 Acikgoz, Omer Yeshiva University [email protected] 20 Albanesi, Stefania FRB of New York [email protected] 39 Albrecht, James Georgetown University [email protected] 36 Alder, Simeon University of Notre Dame [email protected] 9, 10 Amaral, Pedro FRB of Cleveland [email protected] 20 Athreya, Kartik FRB of Richmond [email protected] 38 Babus, Ana Imperial College London [email protected] 35 Bacchetta, Philippe University of Lausanne [email protected] 19 Bachmann, Ruediger RWTH Aachen University [email protected] 45 Badel, Alejandro FRB of St. Louis [email protected] 26, 34 Bai, Yan University of Rochester [email protected] 11 Baley, Isaac New York University [email protected] 24 Barczyk, Daniel McGill University [email protected] 9, 37 Barthelemy, Jean Banque de France [email protected] 43 Bartolucci, Cristian Collegio Carlo Alberto [email protected] 20 Battisti, Michele Ifo Institute [email protected] 29 Bauer, Michael FRB of San Francisco [email protected] 44 Bayer, Christian University of Bonn [email protected] 32 Ben-Gad, Michael City University London [email protected] 17 Benjamin, David SUNY-Buffalo [email protected] 16 Berg, Kimberly University of Notre Dame [email protected] 19 Berger, David Northwestern University [email protected] 10, 23 Berriel, Tiago Fundação Getulio Vargas [email protected] 15 Bersem, Mario Copenhagen Business School [email protected] 40 Bhamra, Harjoat University of British Columbia [email protected] 28 Bhandari, Anmol New York University [email protected] 32 Bianchi, Francesco Duke university [email protected] 13, 30 Bianchi, Javier University of Wisconsin [email protected] 10 Bick, Alexander Arizona State University [email protected] 32 Bidder, Rhys FRB of San Francisco [email protected] 45 Bierbrauer, Felix University of Cologne [email protected] 26 Bigio, Saki Columbia University [email protected] 10, 35 Bils, Mark University of Rochester [email protected] 9 Blanco, Julio New York University [email protected] 11, 24 Blaum, Joaquin Brown University [email protected] 21 Bonomo, Marco Fundação Getulio Vargas [email protected] 24
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List of Participants
Last Institution Email Page Boppart, Timo Stockholm University [email protected] 16, 46 Borovicka, Jaroslav New York University [email protected] 24 Borovickova, Katarina New York University [email protected] 29 Boz, Emine International Monetary Fund [email protected] 31 Broer, Tobias IIES [email protected] 14 Brooks, Wyatt University of Notre Dame [email protected] 13 Brumm, Johannes University of Zurich [email protected] 47 Buera, Francisco UCLA [email protected] 19, 40 Burstein, Ariel UCLA [email protected] 45 Bursztyn, Leonardo UCLA [email protected] 43 Cacciatore, Matteo HEC Montréal [email protected] 29 Caggese, Andrea Pompeu Fabra University [email protected] 14 Cajner, Tomaz Federal Reserve Board [email protected] Caldara, Dario Federal Reserve Board [email protected] 34 Caliendo, Lorenzo Yale -School of Management [email protected] 21 Campante, Filipe Harvard University [email protected] 23 Campbell, Jeffrey FRB of Chicago [email protected] 29, 30 Cao, Dan Georgetown [email protected] 18 Caponi, Vincenzo IfW-Kiel and Ryerson [email protected] 39 Carapella, Francesca Federal Reserve Board [email protected] 35 Carvalho, Carlos PUC-Rio [email protected] 15, 21, 24, 29 Carvalho, Vasco CREI/ UPF/ Barcelona GSE [email protected] 35 Casanova, Maria UCLA [email protected] 12 Caunedo, Julieta Washington University in St. Louis [email protected] 14 Cavallo, Alberto MIT [email protected] 23 Chade, Hector Arizona State University [email protected] 36 Challe, Edouard Ecole Polytechnique [email protected] 28 Chang, Yongsung Univ. of Rochester / Yonsei Univ. [email protected] 9 Chatterjee, Satyajit FRB of Philadelphia [email protected] 16, 39 Chen, Daphne Florida State University [email protected] 16, 40, 42 Chen, Heng The University of Hong Kong [email protected] 42 Chen, Kaiji Emory University [email protected] 33 Chien, YiLi FRB of St. Louis [email protected] 13, 19 Chiu, Jonathan Bank of Canada [email protected] 15 Cho, Jang Ok Sogang University [email protected] Choi, Changho Bank of Korea [email protected] 15 Choi, Dong Beom FRB of New York [email protected]
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List of Participants
Last Institution Email Page Choi, Horag Monash University [email protected] 36, 45 Choi, Hyung Sun Kyung Hee University [email protected] Choi, Sekyu Universitat Autonoma de Barcelona [email protected] 20 Choi, Youjin University of Western Ontario [email protected] Chung, Kyuil Bank of Korea [email protected] 26 Clymo, Alex London School of Economics [email protected] Cociuba, Simona University of Western Ontario [email protected] 12 Coeurdacier, Nicolas Sciences Po [email protected] 10 Colacito, Riccardo UNC at Chapel Hill [email protected] 43 Cole, Harold University of Pennsylvania [email protected] 13 Collard, Fabrice University of Bern [email protected] 13 Corradin, Stefano European Central Bank [email protected] 14 Cosar, Kerem University of Chicago [email protected] 45 Cozzi, Marco Queen's University [email protected] 32 Cravino, Javier UCLA [email protected] Crinò, Rosario CEMFI [email protected] 12 Cubas, German CENTRAL BANK OF URUGUAY [email protected] 46 -FCS UNIV. OF THE REPUBLIC Cui, Wei Princeton University [email protected] 41 Cunha, Flavio University of Pennsylvania [email protected] 30 Curtis, Chadwick University of Richmond [email protected] 16 da Costa, Carlos Fundação Getulio Vargas [email protected] 35 Dalkiran, Nuh Aygun Bilkent University [email protected] 42 David, Joel University of Southern California [email protected] 28 Davis, Scott FRB of Dallas [email protected] 29 De Fiore, Fiorella European Central Bank [email protected] 44 de la Croix, David UC Louvain [email protected] 18, 37 De Magalhaes, Leandro University of Bristol [email protected] 32 Dew-Becker, Ian FRB of San Francisco [email protected] 28 Didier, Tatiana World Bank [email protected] 14 Doepke, Matthias Northwestern University [email protected] 18 Domeij, David Stockholm School of Economics [email protected] Donovan, Kevin Arizona State University [email protected] Dovis, Alessandro University of Minnesota [email protected] 10 Drautzburg, Thorsten University of Chicago [email protected] 36 Drozd, Lukasz Wharton School [email protected] 16 Duernecker, Georg University of Mannheim [email protected] 40
64 SED 2013 | Society for Economic Dynamics
List of Participants
Last Institution Email Page Dumas, Bernard INSEAD [email protected] 43 Dumav, Martin Bielefeld University [email protected] 38 Durdu, Bora Federal Reserve Board [email protected] 31 Dustmann, Christian University College London [email protected] 20 Dvorkin, Maximiliano Yale University [email protected] 27 Ederer, Florian UCLA [email protected] 43 Edwards, Ronald A. Tamkang University [email protected] 16 Eeckhout, Jan Univ. College London / GSE-UPF [email protected] 42 Egorov, Georgy Northwestern University [email protected] 16 Eisfeldt, Andrea UCLA [email protected] 28 Epifani, Paolo Universita' Bocconi [email protected] 12 Eyigungor, Burcu FRB of Philadelphia [email protected] 16, 39 Fabinger, Michal Pennsylvania State University [email protected] 13 Fajgelbaum, Pablo UCLA [email protected] 21, 45 Falato, Antonio Federal Reserve Board [email protected] 31 Fan, Ying University of Michigan [email protected] 17 Farhi, Emmanuel Harvard University [email protected] 22 Fattal Jaef , Roberto World Bank [email protected] Favara, Giovanni Federal Reserve Board [email protected] 14 Fernald, John FRB of San Francisco [email protected] 42 Fernandes, Ana Bern Univ. of Applied Sciences [email protected] 17 Fernandez-Blanco, Javier University Carlos III [email protected] 42 Fillat, Jose FRB of Boston [email protected] 18 Fisher, Jonas FRB of Chicago [email protected] 33 Foerster, Andrew FRB of Kansas City [email protected] 43 Fogli, Alessandra Universita' Bocconi [email protected] 33 Forstner, Susanne Stockholm University [email protected] 29 García-Santana, Manuel Universitè Libre de Bruxelles [email protected] 36 Garetto, Stefania Boston University [email protected] 18 Garibaldi, Pietro Collegio Carlo Alberto [email protected] 42 Gavin, William FRB of St. Louis [email protected] 47 Giannoni, Marc FRB of New York [email protected] 42 Glover, Andrew University of Texas Austin [email protected] 42 Glover, Brent Carnegie Mellon University [email protected] 31 Godøy, Anna Ragnar Frisch Centre for [email protected] 36 Economic Research Gomes, Renato Toulouse School of Economics [email protected] 32
65 SED 2013 | Society for Economic Dynamics
List of Participants
Last Institution Email Page Gomis Porqueras, Pedro Monash University [email protected] Gorbenko, Alexander London Business School [email protected] 33 Gorea, Denis Goethe University Frankfurt [email protected] 38 Gottardi, Piero European University Institute [email protected] 33 Gourio, Francois FRB Chicago / Boston University [email protected] 9, 13 Grochulski, Borys Federal Reserve Bank [email protected] 32 Guler, Bulent Indiana University [email protected] 22 Guner, Nezih ICREA-MOVE [email protected] 14 Guvenen, Fatih University of Minnesota [email protected] 16, 46 Hachem, Kinda University of Chicago [email protected] 21 Han, Jongsuk University of Rochester [email protected] 27 Han, Minsoo Pennsylvania State University [email protected] 36 Hansen, Gary UCLA [email protected] 37 Hassan, Tarek University of Chicago [email protected] 23 Hawkins, William Yeshiva University [email protected] 9 He, Chao Renmin University [email protected] 39 He, Hui Shanghai Univ. of Finance & [email protected] Economics He, Zhiguo University of Chicago [email protected] 26 Head, Allen Queen's University [email protected] 39 Herrera, Helios HEC Montreal/ SIPA Columbia [email protected] 17 Herrington, Christopher Arizona State University [email protected] 37 Hidalgo-Cabrillana, Ana Universidad Autonoma de Madrid [email protected] Hong, Jay University of Rochester [email protected] 14, 24, 44, 46 Hopenhayn, Hugo UCLA [email protected] 28, 41 Horner, Johannes Yale University [email protected] 11, 42 Hosseini, Roozbeh Arizona State University [email protected] 19 Hsu, Alex Georgia Institute of Technology [email protected] 13 Hsu, Minchung GRIPS [email protected] Hubrich, Kirstin European Central Bank [email protected] 14 Hur, Sewon University of Pittsburgh [email protected] 43 Ilut, Cosmin Duke University [email protected] 13 Imrohoroglu, Selahattin USC Marshall Business School [email protected] 24, 37 (Selo) Inaba, Masaru Kansai University [email protected] Iovino, Luigi Universita' Bocconi [email protected] 32 Iskrev, Nikolay Bank of Portugal [email protected] 34
66 SED 2013 | Society for Economic Dynamics
List of Participants
Last Institution Email Page Itskhoki, Oleg Princeton University [email protected] 18, 23 Jaimovich, Esteban University of Surrey [email protected] 13 Jedwab, Remi George Washington University [email protected] 22 Jeong, Hyeok KDI School [email protected] 18 Jin, Hyeongsuk University of Western Ontario [email protected] Jin, Keyu London School of Economics [email protected] 10 Jinnai, Ryo Texas A&M University [email protected] Jorda, Oscar FRB of San Francisco / UC Davis [email protected] 17, 42 Ju, Jiandong Tsinghua Univ./Univ. of Oklahoma [email protected] 33 Jung, Jae Wook University of California Davis [email protected] Jung, Philip University of Bonn [email protected] 44, 46 Justiniano, Alejandro FRB of Chicago [email protected] 30 Kaas, Leo University of Konstanz [email protected] 31 Kaboski, Joseph University of Notre Dame [email protected] 40 Kahn, James Yeshiva University [email protected] 20 Kambourov, Gueorgui University of Toronto [email protected] 14, 16, 37 Kang, Hyunju Korea Capital Market Institute [email protected] Kapicka, Marek UC Santa Barbara [email protected] 11 Kaplan, Greg Princeton University [email protected] 11, 44 Karabarbounis, Marios FRB of Richmond [email protected] 44 Karahan, Fatih FRB of New York [email protected] 23, 29 Kawai, Kei New York University Stern [email protected] 15, 30 Kehoe, Timothy University of Minnesota [email protected] 18, 31 Kehrig, Matthias University of Texas Austin [email protected] 9 Keller, Elisa University of Iowa [email protected] 27 Kennan, John University of Wisconsin [email protected] 22 Kim, Chansoo Korea Institute of Science & Technology [email protected] Kim, Hyun Jeong The Bank of Korea [email protected] 20 Kim, Jiwoon University of Minnesota [email protected] 29 Kim, Kyungmin University of Iowa [email protected] Kim, Seik University of Washington [email protected] 20 Kim, Se-Jik Seoul National University [email protected] 25 Kim, Sun-Bin Yonsei University [email protected] 9 Kim, Tae Bong Korea Development Institute [email protected] 15 Kim, Yong Yonsei University [email protected] Kitao, Sagiri Hunter College [email protected] 14, 24 Kiyotaki, Nobuhiro Princeton University [email protected] 18, 26
67 SED 2013 | Society for Economic Dynamics
List of Participants
Last Institution Email Page Klein, Nicolas University of Montreal [email protected] 42 Kocherlakota, Narayana FRB of Minneapolis [email protected] Koehne, Sebastian Stockholm University [email protected] 35 Kollmann, Robert Université Libre de Bruxelles [email protected] 47 Kondo, Illenin Federal Reserve Board [email protected] 21 Kopecky, Karen FRB of Atlanta [email protected] 9 Koreinek, Anton University of Maryland/ IMF [email protected] Kovacs, Agnes University College London [email protected] Kovrijnykh, Natalia Arizona State University [email protected] 16, 33 Kredler, Matthias Universidad Carlos III de Madrid [email protected] 9 Kudlyak, Marianna FRB of Richmond [email protected] 29 Kuhn, Moritz University of Bonn [email protected] 35, 44 Kung, Howard University of British Columbia [email protected] 28 Kurlat, Pablo Stanford University [email protected] 15 Kuruscu, Burhanettin University of Toronto [email protected] 16 Kwon, Hyosung Boston University [email protected] 24 Lahiri, Amartya University of British Columbia [email protected] 45 Lai, Edwin HKUST [email protected] 19 Lakdawala, Aeimit Michigan State University [email protected] 43 Landry, Anthony The Wharton School [email protected] 23 Lanteri, Andrea London School of Economics [email protected] 41 La'O, Jennifer University of Chicago [email protected] 10 Laosuthi, Thanarak Kasersart University [email protected] Lau, Sau-Him University of Hong Kong [email protected] 37 Lee, Ahrang The Bank of Korea [email protected] 43 Lee, Dongkyu Korea Institute of Science & Technology [email protected] Lee, Heon Kyunghee University [email protected] Lee, Junghoon Emory University [email protected] Lee, Junsang SKKU [email protected] Lee, Robin New York University [email protected] 17 Lee, Sanglim Korea Energy Economics Institute [email protected] Lee, Sang Yoon (Tim) University of Mannheim [email protected] 33, 34 Leibovici, Fernando NYU / York University [email protected] 13 Lewis, Logan Federal Reserve Board [email protected] 24 L'Huillier, Jean-Paul Einaudi Institute for Econ & [email protected] 27 Finance Li, Anyong Sun Yat-sen University [email protected]
68 SED 2013 | Society for Economic Dynamics
List of Participants
Last Institution Email Page Li, Huiyu Stanford University [email protected] 36 Li, Nan International Monetary Fund [email protected] 46 Li, Wenli Philadelphia fed [email protected] 14 Licandro, Omar Barcelona GSE [email protected] 33, 37 Ligon, Ethan UC Berkeley [email protected] 43 Lipinska, Anna Federal Reserve Board [email protected] 26 Lise, Jeremy University College London [email protected] 31 Liu, Zheng FRB of San Francisco [email protected] 36 Livshits, Igor University of Western Ontario [email protected] 16 Lozachmeur, Jean-Marie Toulouse School of Economics [email protected] 32, 35 Lu, Dan University of Rochester [email protected] 12 Lu, Yang HKUST [email protected] 24 Lubik, Thomas FRB of Richmond [email protected] 21 Lucas, Robert University of Chicago [email protected] Luttmer, Erzo University of Minnesota [email protected] 28 Maggiori, Matteo New York University [email protected] 43 Mahoney, Neale University of Chicago [email protected] 17 Mandelman, Federico FRB of Atlanta [email protected] 12, 42 Manuelli, Rody Washington University in St. Louis [email protected] 34 Marimon Sunyol, Ramon European Univ. Institute [email protected] & UPF - Barcelona GSE Mark, Nelson University of Notre Dame [email protected] 19, 45 Martin, Alberto CREI [email protected] 39 Martin, Fernando FRB of St. Louis [email protected] 16 Matejka, Filip CERGE-EI [email protected] 40 Mateos-Planas, Xavier Queen Mary University of London [email protected] 10 Maziero, Pricila University of Pennsylvania [email protected] 19 McGrattan, Ellen FRB of Minneapolis [email protected] 24 Mejean, Isabelle Ecole Polytechnique [email protected] 18 Mele, Antonio University of Surrey [email protected] 19 Melosi, Leonardo Chicago Fed [email protected] 30, 36 Mendes Tavares, Marina ITAM [email protected] 37 Mendoza, Enrique University of Pennsylvania/ SAS [email protected] 17, 39 Mertens, Karel Cornell University [email protected] 40 Mertens, Thomas New York University [email protected] 27 Michaels, Ryan University of Rochester [email protected] 9, 29 Michaillat, Pascal London School of Economics [email protected] 28
69 SED 2013 | Society for Economic Dynamics
List of Participants
Last Institution Email Page Michelacci, Claudio CEMFI [email protected] 27 Midrigan, Virgiliu New York University [email protected] 11 Mitchell, Matthew University of Toronto [email protected] 19 Mitman, Kurt University of Pennsylvania [email protected] 11, 23 Moll, Benjamin Princeton University [email protected] 18 Mondria, Jordi University of Toronto [email protected] 18 Monge-Naranjo, Alexander FRB of St. Louis [email protected] 9, 34 Moral-Benito, Enrique Bank of Spain [email protected] 30 Moscoso Boedo, Hernan University of Virginia [email protected] 18 Mueller, Andreas Columbia University [email protected] 44 Mukoyama, Toshihiko Federal Reserve Board [email protected] 16, 23 Nakajima, Makoto FRB Philadelphia [email protected] 9 Nakata, Taisuke Federal Reserve Board [email protected] 44 Nakata, Takeshi Niigata University [email protected] Naknoi, Kanda University of Connecticut [email protected] 19 Navarro, Gaston New York University [email protected] 11 Nechio, Fernanda FRB of San Francisco [email protected] 29, 42 Nenov, Plamen Norwegian Business School (BI) [email protected] 22 Neri, Claudia University of St.Gallen [email protected] 30 Nicolini, Juan Pablo FRB of Minneapolis [email protected] 35 Niepelt, Dirk Study Center Gerzensee [email protected] 45 Nimark, Kristoffer CREI/ Universitat Pompeu Fabra [email protected] 40 Nirei, Makoto Hitotsubashi University [email protected] 35 Nosal, Jaromir Columbia University [email protected] 10 Nutahara, Kengo University College London [email protected] Oberfield, Ezra FRB of Chicago [email protected] 35 Ogaki, Masao Keio University [email protected] 11 Oh, Hyunseung Columbia University [email protected] 20 Oikawa, Koki Waseda University [email protected] Onishi, Ken Northwestern [email protected] 30 Opp, Christian University of Pennsylvania [email protected] 15 Orlik, Anna Federal Reserve Board [email protected] 45 Ostrowski, Christine FRB of Chicago [email protected] 29 Otrok, Christopher University of Missouri [email protected] 12, 26 Ozdagli, Ali FRB of Boston [email protected] 25 Ozkan, Serdar Federal Reserve Board [email protected] 46 Palazzo, Berardino Boston University [email protected] 11
70 SED 2013 | Society for Economic Dynamics
List of Participants
Last Institution Email Page Pantano, Juan Washington University in St. Louis [email protected] 12 Park, Sung Ho The Bank of Korea [email protected] 24 Park, Woong Yong University of Hong Kong [email protected] 43 Park, Youngmin University of Western Ontario [email protected] Parlatore Siritto, Cecilia The Wharton School, Univ. [email protected] 12 of Penn Pashchenko, Svetlana Uppsala University [email protected] 32, 37 Peralta-Alva, Adrian International Monetary Fund [email protected] 33 Perri, Fabrizio Universita' Bocconi [email protected] 11, 33 Peterman, William Federal Reserve Board of [email protected] 17 Governors Peters, Michael Yale University/LSE [email protected] 18, 21 Phillips, Kerk Brigham Young University [email protected] Piazzesi, Monika Stanford [email protected] 39 Piguillem, Facundo Einaudi Institute for Econ & [email protected] 40 Finance Pijoan-Mas, Josep CEMFI [email protected] 24 Pistolesi, Nicolas Toulouse School of Economics [email protected] 20 Plesca, Miana University of Guelph [email protected] Plotnikov, Dmitry UCLA [email protected] 23 Popov, Latchezar University of Virginia [email protected] 16 Porapakkarm, Ponpoje University of Macau [email protected] 32, 37 (Poe) Portier, Franck University of Toulouse [email protected] 28 Postel-Vinay, Fabien University of Bristol [email protected] 31 Prescott, Edward Arizona State University [email protected] 24 Punyasavatsut, Arunee Kasersart University [email protected] Qi, Han HKUST [email protected] 29 Qi, Shi Florida State University [email protected] 40 Queralto, Albert Federal Reserve Board [email protected] 31 Quint, Dominic Free University Berlin [email protected] 22 Rabinovich, Stanislav Amherst College [email protected] Radde, Sören DIW Berlin [email protected] Raffo, Andrea Federal Reserve Board [email protected] 44 Ramanarayanan, Ananth University of Western Ontario [email protected] Ramey, Valerie University of California, San Diego [email protected] 37 Rampini, Adriano Duke University [email protected] 33 Rappoport, Veronica London School of Economics [email protected] 41
71 SED 2013 | Society for Economic Dynamics
List of Participants
Last Institution Email Page Razin, Assaf Tel Aviv University [email protected] 45 Reiter, Michael IHS [email protected] 29 Rendahl, Pontus University of Cambridge [email protected] 28 Rendall, Andrew University of Zurich [email protected] 27 Rendall, Michelle University of Zurich [email protected] 27, 37 Restrepo-Echavarria, The Ohio State University [email protected] 44 Paulina Restuccia, Diego University of Toronto [email protected] 32 Ritter, Moritz Temple University [email protected] 36 Rodríguez Mora, José V. University of Edinburgh [email protected] 37 Rogerson, Richard Princeton University [email protected] 14, 40 Rondina, Giacomo UC San Diego [email protected] 27 Rousakis, Michael European University Institute [email protected] 15 Roys, Nicolas UW Madison [email protected] 9 Rudanko, Leena Boston University [email protected] 39 Ruhl, Kim New York University Stern [email protected] 18, 41 Samaniego, Roberto George Washington University [email protected] 22 Sampson, Thomas London School of Economics [email protected] 28 Sanchez, Juan FRB of St. Louis [email protected] 9 Sanders, Carl Washington University in St. Louis [email protected] 22 Sannikov, Yuliy Princeton University [email protected] 26 Santacreu, Ana Maria INSEAD [email protected] 19 Santaeulalia, Raul Washington University in St Louis [email protected] 9, 32, 46 Santos, Cezar University of Mannheim [email protected] 39 Schaal, Edouard New York University [email protected] 45 Scheuer, Florian Stanford University [email protected] 26 Schneider, Martin Stanford University [email protected] 13 Schoellman, Todd Arizona State University [email protected] 34 Schott, Immo European University Institute [email protected] 11 Schroth, Josef Bank of Canada [email protected] 40 Seccia, Giulio Kyoto University [email protected] Seo, Jeong Jun Korea Institute of Science & [email protected] Technology Sergeyev, Dmytriy Columbia University [email protected] 23 Setty, Ofer Tel Aviv University [email protected] 20 Sevcik, Pavel Universite du Quebec a Montreal [email protected] 46 Shao, Lin Washington Unviersity in St. Louis [email protected] 10
72 SED 2013 | Society for Economic Dynamics
List of Participants
Last Institution Email Page Shi, Shouyong University of Toronto [email protected] 27 Shim, Myungkyu University of California, San Diego [email protected] 27 Shimer, Robert University of Chicago [email protected] 15 Shin, Kwanho Korea University [email protected] Shin, Yongseok Washington University in St. Louis [email protected] 18, 33, 33 Shioji, Etsuro Hitotsubashi University [email protected] Shirai, Daichi The Canon Institute for [email protected] Global Studies Shourideh, Ali Wharton School [email protected] 32 Siegel, Christian University of Exeter [email protected] 37 Silos, Pedro FRB of Atlanta [email protected] 20 Sim, Jae Federal Reserve Board [email protected] 21, 31 Sim, Seung-Gyu University of Tokyo [email protected] 30 Simonovska, Ina University of California Davis [email protected] 31 Simsek, Alp MIT [email protected] 22 Simula, Laurent Uppsala University [email protected] 17 Singh, Rajesh Iowa State University [email protected] 41 Sinha, Arunima Santa Clara University [email protected] 13 Skira, Meghan University of Georgia [email protected] 9 Slavik, Ctirad Goethe University Frankfurt [email protected] 19 Son, Jong Chil The Bank of Korea [email protected] 20 Song, Dongho University of Pennsylvania [email protected] 13 Song, In Ho Korea Development Institute [email protected] 20 Song, Minjae University of Rochester [email protected] 30 Song, Zheng (Michael) University of Chicago [email protected] 45 Stefanski, Radek Laval University [email protected] Steinberg, Joseph University of Minnesota [email protected] 31 Stepanchuk, Serhiy Magyar Nemzeti Bank [email protected] 47 Steri, Roberto Università Commerciale [email protected] 25 L. Bocconi Sterk, Vincent University College London [email protected] 27 Stevens, Luminita University of Maryland [email protected] 10 Stokey, Nancy L University of Chicago [email protected] 36 Sultanum, Bruno The Pennsylvania State University [email protected] 42 Suzuki, Shiba Meisei University [email protected] Swanson, Eric FRB of San Francisco [email protected] 32 Szemely, Bela Boston University [email protected] 9
73 SED 2013 | Society for Economic Dynamics
List of Participants
Last Institution Email Page Taddei, Filippo Collegio Carlo Alberto [email protected] 32 Tamura, Robert Clemson University [email protected] 19 Tanaka, Hiroatsu Board of Governors of the [email protected] Federal Reserve System Tanaka, Satoshi University of Queensland [email protected] 12 Taschereau-Dumouchel, University of Pennsylvania [email protected] 45 Mathieu Tchistyi, Alexei UC Berkeley [email protected] 25 Terajima, Yaz Bank of Canada [email protected] 41 Terrones, Marco International Monetary Fund [email protected] 17 Thomas, Carlos Banco de España [email protected] 11 Thurk, Jeff University of Notre Dame [email protected] 15 Tintelnot, Felix Penn State [email protected] 41 Tonetti, Christopher Stanford GSB [email protected] 28 Toommongkol, Worawan Kasetsart University [email protected] Tran, Allen UCLA [email protected] 15 Tretvoll, Hakon BI Norwegian Business School [email protected] 42 Tsuruga, Takayuki Kyoto University [email protected] 12 Turner, Laura University of Toronto [email protected] 37 Uhlig, Harald University of Chicago [email protected] 30 Usui, Emiko Nagoya University [email protected] 20 Valencia, Fabian International Monetary Fund [email protected] 17 Valentinyi, Akos Cardiff Business School [email protected] 22 Vavra, Joseph University of Chicago [email protected] 23 Vazquez -Grande, Federal Reserve Board [email protected] Francisco Velde, Francois FRB of Chicago [email protected] 44 Vereshchagina, Galina Arizona State University [email protected] 15 Vestman, Roine Stockholm University [email protected] 44 Vickery, James FRB of New York [email protected] 43 Violante, Gianluca New York University [email protected] 11 Virag, Gabor University of Toronto [email protected] Visschers, Lodewijk Universidad Carlos III Madrid [email protected] 31 Voena, Alessandra University of Chicago [email protected] 12 Voigtlaender, Nico UCLA [email protected] 18, 35 Vroman, Susan Georgetown University [email protected] Waggoner, Daniel FRB of Atlanta [email protected] 30 Waki, Yuichiro University of Queensland [email protected]
74 SED 2013 | Society for Economic Dynamics
List of Participants
Last Institution Email Page Wallenius, Johanna Stockholm School of Economics [email protected] 24 Waller, Christopher FRB of St. Louis [email protected] 41 Wang, Pengfei HKUST [email protected] 31, 34 Wang, Wei Washington University [email protected] 22 Wang, Xin Tsinghua University [email protected] 10 Wang, Yong HKUST [email protected] 10 Wang, Yong City University of Hong Kong [email protected] 16 Wang, Zhu FRB of Richmond [email protected] 19 Watson, Mark Princeton University [email protected] Wei, Bin Federal Reserve Board [email protected] 33 Weiss, Franziska University of Zurich [email protected] 46 Wen, Yi FRB of St. Louis [email protected] 31 Werquin, Nicolas Yale University [email protected] 35 Weyl, Eric Glen University of Chicago [email protected] 26 Whang, Yu Jung Yale University [email protected] Wiczer, David University of Minnesota [email protected] 27 Wiederholt, Mirko Goethe University Frankfurt [email protected] 40 Worrall, Tim Edinburgh University [email protected] Wright, Mark FRB of Chicago / UCLA [email protected] 10, 16 Xiao, Mo University of Arizona [email protected] 17 Xu, Daniel Yi Duke University [email protected] 45 Xu, Lifang HKUST [email protected] 34 Xu, Zhiwei HKUST [email protected] 31, 34 Yamada, Tomoaki Meiji University [email protected] 24 Yang, Hee-Seung Monash University [email protected] 27 Yared, Pierre Columbia Business School [email protected] Yedid-Levi, Yaniv University of British Columbia [email protected] Yi, Kei-Mu FRB of Minneapolis [email protected] Yogo, Motohiro FRB of Minneapolis [email protected] 26 Yoon, Kyoungsoo The Bank of Korea [email protected] 26 Young, Eric University of Virginia [email protected] 38 Yuchtman, Noam UC-Berkeley [email protected] 23, 43 Yue, Vivian Federal Reserve Board [email protected] 39 Yun, Tack Seoul National University [email protected] 24 Zhang, Jing FRB of Chicago [email protected] 41 Zhang, Lei [email protected] 28 Zhang, Shengxing New York University [email protected] 35
75 SED 2013 | Society for Economic Dynamics
List of Participants
Last Institution Email Page Zhang, Yuzhe Texas A&M University [email protected] 19, 32 Zhao, Kai (Jackie) University of Western Ontario [email protected] 38 Zhao, Min Qiang (Kent) Xiamen University [email protected] 40 Zheng, Yu City University of Hong Kong [email protected] Zilberman, Eduardo PUC-Rio [email protected] 37 Zimmermann, Christian St. Louis Fed [email protected] 11 Zlate, Andrei Federal Reserve Board [email protected] 12
76 SED 2013 | Society for Economic Dynamics
MEMO
77 SED 2013 | Society for Economic Dynamics
MEMO
78 SED 2013 | Society for Economic Dynamics
MEMO
79 SED 2013 | Society for Economic Dynamics
MEMO
80 SED Annual Meeting 2013
is hosted by
SED 2013 | Society for Economic Dynamics http://www.economicdynamics.org/sed2013.htm
Program Chairs Virgiliu Midrigan - NYU Josep Pijoan-Mas - CEMFI
Local Organizers Yongsung Chang - University of Rochester & Yonsei University Jang-Ok Cho - Sogang University Sun-Bin Kim - Yonsei University Hyun Song Shin - Princeton University Kwanho Shin - Korea University Tack Yun - Seoul National University
SED 2013 | Society for Economic Dynamics Society for Economic Dynamics
SED Annual Meeting
is co-hosted by Yonsei University (Global Research Team) Ministry of Strategy and Finance SED Annual Meeting The Bank of Korea June 27-29, 2013 Korea Development Institute Seoul, Korea
Society for Economic Dynamics gratefully acknowledges additional sponsorship of
© National Museum of Korea